Overview Dividends

(PLUG) Plug Power - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US72919P2020

Fuel Cells, Electrolyzers, Hydrogen Storage, Fuel Delivery

Electrical Components & Equipment
Market Cap in USD: 2,936m
IPO / Inception: 1999-10-29
Return 12m vs S&P 500: -24.0%

EPS (Earnings per Share)

EPS (Earnings per Share) of PLUG over the last years for every Quarter: "2020-12": -1.12, "2021-03": -0.12, "2021-06": -0.18, "2021-09": -0.18, "2021-12": -0.23, "2022-03": -0.27, "2022-06": -0.3, "2022-09": -0.3, "2022-12": -0.38, "2023-03": -0.35, "2023-06": -0.4, "2023-09": -0.45, "2023-12": -1.08, "2024-03": -0.46, "2024-06": -0.36, "2024-09": -0.246, "2024-12": -0.4086, "2025-03": -0.2012, "2025-06": -0.2, "2025-09": -0.12,
EPS CAGR: 3.18%
EPS Trend: 10.8%
Last SUE: 0.04
Qual. Beats: 0

Revenue

Revenue of PLUG over the last years for every Quarter: 2020-12: 14.367, 2021-03: 71.958, 2021-06: 124.557, 2021-09: 143.922, 2021-12: 161.905, 2022-03: 140.804, 2022-06: 151.267, 2022-09: 188.628, 2022-12: 220.742, 2023-03: 210.286, 2023-06: 260.182, 2023-09: 198.711, 2023-12: 222.161, 2024-03: 120.264, 2024-06: 143.35, 2024-09: 173.73, 2024-12: 191.47, 2025-03: 133.674, 2025-06: 173.97, 2025-09: 177.055,
Rev. CAGR: 2.41%
Rev. Trend: -9.6%
Last SUE: 0.04
Qual. Beats: 0

Dividends

Currently no dividends paid
Risk via 5d forecast
Volatility 93.3%
Value at Risk 5%th 127%
Relative Tail Risk -17.22%
Reward TTM
Sharpe Ratio 0.37
Alpha -44.27
CAGR/Max DD -0.47
Character TTM
Hurst Exponent 0.528
Beta 1.584
Beta Downside 2.071
Drawdowns 3y
Max DD 96.09%
Mean DD 73.14%
Median DD 84.60%

Description: PLUG Plug Power November 10, 2025

Plug Power (NASDAQ: PLUG) designs, manufactures, and sells hydrogen-fuel-cell systems for material-handling vehicles (GenDrive), stationary power (GenSure), and integrated turnkey solutions (GenKey), complemented by hydrogen infrastructure products such as GenFuel storage/dispensing units, electrolyzers, and cryogenic equipment. The company serves customers across North America, Europe, and Asia through direct sales, OEM partnerships, and dealer networks, and it has been operating since 1997 from its Latham, NY headquarters.

Key recent metrics: FY 2023 revenue reached $1.0 billion, up ~30 % YoY, driven by a 45 % increase in GenDrive shipments and a growing backlog of GenSure contracts in the telecom and utility sectors. The hydrogen market is projected to expand at a CAGR of ~9 % through 2030, with green-hydrogen policy incentives in the EU and U.S. Infrastructure Investment and Jobs Act (IIJA) expected to boost demand for electrolyzers and liquid-hydrogen logistics-core growth levers for Plug Power.

For a deeper, data-driven assessment of Plug Power’s valuation and risk profile, you may find the analytical tools on ValueRay useful.

Piotroski VR‑10 (Strict, 0-10) 0.5

Net Income (-2.12b TTM) > 0 and > 6% of Revenue (6% = 40.6m TTM)
FCFTA -0.21 (>2.0%) and ΔFCFTA 6.46pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 42.65% (prev 128.4%; Δ -85.79pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA -0.17 (>3.0%) and CFO -518.4m > Net Income -2.12b (YES >=105%, WARN >=100%)
NO Net Debt/EBITDA fails (EBITDA <= 0)
Current Ratio 1.32 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (1.16b) change vs 12m ago 34.96% (target <= -2.0% for YES)
Gross Margin -71.29% (prev -85.88%; Δ 14.59pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 17.27% (prev 13.96%; Δ 3.31pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio -34.15 (EBITDA TTM -2.01b / Interest Expense TTM 60.5m) >= 6 (WARN >= 3)

Altman Z'' -15.50

(A) 0.09 = (Total Current Assets 1.19b - Total Current Liabilities 902.5m) / Total Assets 3.10b
(B) -2.38 = Retained Earnings (Balance) -7.38b / Total Assets 3.10b
warn (B) unusual magnitude: -2.38 — check mapping/units
(C) -0.53 = EBIT TTM -2.07b / Avg Total Assets 3.91b
(D) -4.58 = Book Value of Equity -7.36b / Total Liabilities 1.61b
Total Rating: -15.50 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 30.08

1. Piotroski 0.50pt
2. FCF Yield -17.74%
3. FCF Margin -98.67%
4. Debt/Equity 0.70
5. Debt/Ebitda -0.41
7. RoE -126.8%
8. Rev. Trend -9.64%
9. EPS Trend 10.81%

What is the price of PLUG shares?

As of December 26, 2025, the stock is trading at USD 2.10 with a total of 47,485,666 shares traded.
Over the past week, the price has changed by -7.08%, over one month by +7.69%, over three months by -11.02% and over the past year by -11.76%.

Is PLUG a buy, sell or hold?

Plug Power has received a consensus analysts rating of 3.08. Therefor, it is recommend to hold PLUG.
  • Strong Buy: 4
  • Buy: 2
  • Hold: 13
  • Sell: 2
  • Strong Sell: 3

What are the forecasts/targets for the PLUG price?

Issuer Target Up/Down from current
Wallstreet Target Price 2.8 32.9%
Analysts Target Price 2.8 32.9%
ValueRay Target Price 1.4 -34.8%

PLUG Fundamental Data Overview December 24, 2025

Market Cap USD = 2.94b (2.94b USD * 1.0 USD.USD)
P/S = 4.3426
P/B = 2.1612
P/EG = -0.27
Beta = 1.749
Revenue TTM = 676.2m USD
EBIT TTM = -2.07b USD
EBITDA TTM = -2.01b USD
Long Term Debt = 122.3m USD (from longTermDebt, last quarter)
Short Term Debt = 429.4m USD (from shortTermDebt, last quarter)
Debt = 991.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 825.5m USD (from netDebt column, last quarter)
Enterprise Value = 3.76b USD (2.94b + Debt 991.4m - CCE 165.9m)
Interest Coverage Ratio = -34.15 (Ebit TTM -2.07b / Interest Expense TTM 60.5m)
FCF Yield = -17.74% (FCF TTM -667.2m / Enterprise Value 3.76b)
FCF Margin = -98.67% (FCF TTM -667.2m / Revenue TTM 676.2m)
Net Margin = -313.7% (Net Income TTM -2.12b / Revenue TTM 676.2m)
Gross Margin = -71.29% ((Revenue TTM 676.2m - Cost of Revenue TTM 1.16b) / Revenue TTM)
Gross Margin QoQ = -67.87% (prev -30.73%)
Tobins Q-Ratio = 1.21 (Enterprise Value 3.76b / Total Assets 3.10b)
Interest Expense / Debt = 1.66% (Interest Expense 16.5m / Debt 991.4m)
Taxrate = -0.03% (negative due to tax credits) (92.0k / -363.4m)
NOPAT = -2.07b (EBIT -2.07b * (1 - -0.03%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 1.32 (Total Current Assets 1.19b / Total Current Liabilities 902.5m)
Debt / Equity = 0.70 (Debt 991.4m / totalStockholderEquity, last quarter 1.42b)
Debt / EBITDA = -0.41 (negative EBITDA) (Net Debt 825.5m / EBITDA -2.01b)
Debt / FCF = -1.24 (negative FCF - burning cash) (Net Debt 825.5m / FCF TTM -667.2m)
Total Stockholder Equity = 1.67b (last 4 quarters mean from totalStockholderEquity)
RoA = -68.32% (Net Income -2.12b / Total Assets 3.10b)
RoE = -126.8% (Net Income TTM -2.12b / Total Stockholder Equity 1.67b)
RoCE = -115.2% (out of range, set to none) (EBIT -2.07b / Capital Employed (Equity 1.67b + L.T.Debt 122.3m))
RoIC = -101.8% (out of range, set to none) (NOPAT -2.07b / Invested Capital 2.03b)
WACC = 9.28% (E(2.94b)/V(3.93b) * Re(11.85%) + D(991.4m)/V(3.93b) * Rd(1.66%) * (1-Tc(-0.00)))
Discount Rate = 11.85% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 38.25%
Fair Price DCF = unknown (Cash Flow -667.2m)
EPS Correlation: 10.81 | EPS CAGR: 3.18% | SUE: 0.04 | # QB: 0
Revenue Correlation: -9.64 | Revenue CAGR: 2.41% | SUE: 0.04 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.09 | Chg30d=+0.000 | Revisions Net=-1 | Analysts=6
EPS next Year (2026-12-31): EPS=-0.32 | Chg30d=+0.019 | Revisions Net=-1 | Growth EPS=+53.8% | Growth Revenue=+21.9%

Additional Sources for PLUG Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle