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PLUG POWER INC (PLUG) Stock Fundamental Analysis

USA - NASDAQ:PLUG - US72919P2020 - Common Stock

1.52 USD
+0.01 (+0.66%)
Last: 9/12/2025, 8:08:36 PM
1.5291 USD
+0.01 (+0.6%)
After Hours: 9/12/2025, 8:08:36 PM
Fundamental Rating

2

Overall PLUG gets a fundamental rating of 2 out of 10. We evaluated PLUG against 92 industry peers in the Electrical Equipment industry. PLUG may be in some trouble as it scores bad on both profitability and health. PLUG is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

PLUG had negative earnings in the past year.
PLUG had a negative operating cash flow in the past year.
PLUG had negative earnings in each of the past 5 years.
PLUG had a negative operating cash flow in each of the past 5 years.
PLUG Yearly Net Income VS EBIT VS OCF VS FCFPLUG Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -500M -1B -1.5B -2B

1.2 Ratios

PLUG has a worse Return On Assets (-58.75%) than 79.35% of its industry peers.
PLUG has a worse Return On Equity (-117.21%) than 66.30% of its industry peers.
Industry RankSector Rank
ROA -58.75%
ROE -117.21%
ROIC N/A
ROA(3y)-32.97%
ROA(5y)-26.62%
ROE(3y)-62.14%
ROE(5y)-47.41%
ROIC(3y)N/A
ROIC(5y)N/A
PLUG Yearly ROA, ROE, ROICPLUG Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -50 -100 -150 -200

1.3 Margins

PLUG does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
PLUG Yearly Profit, Operating, Gross MarginsPLUG Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300

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1

2. Health

2.1 Basic Checks

PLUG does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for PLUG has been increased compared to 1 year ago.
Compared to 5 years ago, PLUG has more shares outstanding
PLUG has a worse debt/assets ratio than last year.
PLUG Yearly Shares OutstandingPLUG Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
PLUG Yearly Total Debt VS Total AssetsPLUG Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B 5B

2.2 Solvency

PLUG has an Altman-Z score of -2.80. This is a bad value and indicates that PLUG is not financially healthy and even has some risk of bankruptcy.
PLUG has a worse Altman-Z score (-2.80) than 71.74% of its industry peers.
PLUG has a Debt/Equity ratio of 0.23. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.23, PLUG is in line with its industry, outperforming 59.78% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF N/A
Altman-Z -2.8
ROIC/WACCN/A
WACC7.7%
PLUG Yearly LT Debt VS Equity VS FCFPLUG Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B

2.3 Liquidity

PLUG has a Current Ratio of 1.59. This is a normal value and indicates that PLUG is financially healthy and should not expect problems in meeting its short term obligations.
PLUG has a Current ratio (1.59) which is comparable to the rest of the industry.
PLUG has a Quick Ratio of 1.59. This is a bad value and indicates that PLUG is not financially healthy enough and could expect problems in meeting its short term obligations.
PLUG has a Quick ratio of 0.82. This is in the lower half of the industry: PLUG underperforms 64.13% of its industry peers.
Industry RankSector Rank
Current Ratio 1.59
Quick Ratio 0.82
PLUG Yearly Current Assets VS Current LiabilitesPLUG Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

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5

3. Growth

3.1 Past

The Earnings Per Share has been growing slightly by 1.70% over the past year.
PLUG shows a decrease in Revenue. In the last year, the revenue decreased by -1.70%.
PLUG shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 22.28% yearly.
EPS 1Y (TTM)1.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.44%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y7.77%
Revenue growth 5Y22.28%
Sales Q2Q%21.36%

3.2 Future

PLUG is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 14.00% yearly.
Based on estimates for the next years, PLUG will show a very strong growth in Revenue. The Revenue will grow by 20.36% on average per year.
EPS Next Y76.7%
EPS Next 2Y36.9%
EPS Next 3Y23.85%
EPS Next 5Y14%
Revenue Next Year1.12%
Revenue Next 2Y12.49%
Revenue Next 3Y16%
Revenue Next 5Y20.36%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
PLUG Yearly Revenue VS EstimatesPLUG Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 500M 1B 1.5B 2B 2.5B
PLUG Yearly EPS VS EstimatesPLUG Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 -1 -2

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1

4. Valuation

4.1 Price/Earnings Ratio

PLUG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year PLUG is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
PLUG Price Earnings VS Forward Price EarningsPLUG Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
PLUG Per share dataPLUG EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 -2

4.3 Compensation for Growth

A more expensive valuation may be justified as PLUG's earnings are expected to grow with 23.85% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y36.9%
EPS Next 3Y23.85%

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0

5. Dividend

5.1 Amount

No dividends for PLUG!.
Industry RankSector Rank
Dividend Yield N/A

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PLUG POWER INC

NASDAQ:PLUG (9/12/2025, 8:08:36 PM)

After market: 1.5291 +0.01 (+0.6%)

1.52

+0.01 (+0.66%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)08-11 2025-08-11/amc
Earnings (Next)11-10 2025-11-10/amc
Inst Owners39.05%
Inst Owner Change0.62%
Ins Owners0.54%
Ins Owner Change7.32%
Market Cap1.76B
Analysts64.67
Price Target2.4 (57.89%)
Short Float %31.26%
Short Ratio5.12
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-17.41%
Min EPS beat(2)-27.02%
Max EPS beat(2)-7.79%
EPS beat(4)0
Avg EPS beat(4)-162.1%
Min EPS beat(4)-612.34%
Max EPS beat(4)-1.24%
EPS beat(8)0
Avg EPS beat(8)-111.47%
EPS beat(12)0
Avg EPS beat(12)-87.18%
EPS beat(16)0
Avg EPS beat(16)-84.81%
Revenue beat(2)1
Avg Revenue beat(2)3.58%
Min Revenue beat(2)-0.84%
Max Revenue beat(2)7.99%
Revenue beat(4)1
Avg Revenue beat(4)-10.13%
Min Revenue beat(4)-28.67%
Max Revenue beat(4)7.99%
Revenue beat(8)1
Avg Revenue beat(8)-14.02%
Revenue beat(12)3
Avg Revenue beat(12)-12.81%
Revenue beat(16)4
Avg Revenue beat(16)-10.62%
PT rev (1m)4.91%
PT rev (3m)-5.53%
EPS NQ rev (1m)4.38%
EPS NQ rev (3m)13.43%
EPS NY rev (1m)-6.16%
EPS NY rev (3m)-3.05%
Revenue NQ rev (1m)-7.58%
Revenue NQ rev (3m)-20.38%
Revenue NY rev (1m)-2.74%
Revenue NY rev (3m)-7.18%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.61
P/FCF N/A
P/OCF N/A
P/B 1.04
P/tB 1.1
EV/EBITDA N/A
EPS(TTM)-2.31
EYN/A
EPS(NY)-0.34
Fwd EYN/A
FCF(TTM)-0.71
FCFYN/A
OCF(TTM)-0.52
OCFYN/A
SpS0.58
BVpS1.46
TBVpS1.39
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -58.75%
ROE -117.21%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-32.97%
ROA(5y)-26.62%
ROE(3y)-62.14%
ROE(5y)-47.41%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score3
Asset Turnover0.2
Health
Industry RankSector Rank
Debt/Equity 0.23
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 312.46%
Cap/Sales 32.06%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.59
Quick Ratio 0.82
Altman-Z -2.8
F-Score3
WACC7.7%
ROIC/WACCN/A
Cap/Depr(3y)757.88%
Cap/Depr(5y)684.65%
Cap/Sales(3y)65.8%
Cap/Sales(5y)50.45%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)1.7%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.44%
EPS Next Y76.7%
EPS Next 2Y36.9%
EPS Next 3Y23.85%
EPS Next 5Y14%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y7.77%
Revenue growth 5Y22.28%
Sales Q2Q%21.36%
Revenue Next Year1.12%
Revenue Next 2Y12.49%
Revenue Next 3Y16%
Revenue Next 5Y20.36%
EBIT growth 1Y22.06%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year54.25%
EBIT Next 3Y25.53%
EBIT Next 5Y20.54%
FCF growth 1Y51.15%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y42.39%
OCF growth 3YN/A
OCF growth 5YN/A