(PLUG) Plug Power - Overview
Stock: Fuel Cells, Electrolyzers, Hydrogen Storage, Cryogenic Equipment
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 102% |
| Relative Tail Risk | -19.1% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.50 |
| Alpha | -24.72 |
| Character TTM | |
|---|---|
| Beta | 1.628 |
| Beta Downside | 2.024 |
| Drawdowns 3y | |
|---|---|
| Max DD | 95.83% |
| CAGR/Max DD | -0.53 |
Description: PLUG Plug Power January 13, 2026
Plug Power (NASDAQ: PLUG) designs, manufactures, and sells hydrogen-fuel-cell systems for material-handling vehicles, stationary power, and broader industrial applications, offering a portfolio that includes GenDrive (mobile PEM fuel cells), GenSure (modular backup/grid-support units), ProGen (fuel-cell stacks/engines), GenFuel (liquid-hydrogen generation, storage and dispensing), and related IoT-based service (GenCare) and turnkey (GenKey) solutions. Sales are executed through a direct force, OEM partners, and dealer networks across North America, Europe, Asia and other regions.
Key recent metrics (FY 2023): revenue $1.74 bn (+ 23 % YoY), adjusted EBITDA $120 m, and a cash-burn reduction to $260 m after a $1.1 bn equity raise in 2022. The company’s growth is tightly linked to three macro drivers – (1) expanding green-hydrogen demand driven by EU and U.S. decarbonisation incentives (e.g., the U.S. Inflation Reduction Act’s clean-energy tax credits), (2) the scaling of electric-forklift fleets in logistics (projected 15 % CAGR through 2028), and (3) the emergence of hydrogen-based grid-balancing services as renewable penetration rises. Base-rate analysis suggests a ~30 % probability that PLUG’s revenue will exceed $2 bn by FY 2025, assuming continued policy support and successful execution of its “Hydrogen Hub” rollout.
For a deeper, data-driven assessment of PLUG’s valuation assumptions, you may find the ValueRay platform’s analytical tools useful.
Piotroski VR‑10 (Strict, 0-10) 0.5
| Net Income: -2.12b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.21 > 0.02 and ΔFCF/TA 6.46 > 1.0 |
| NWC/Revenue: 42.65% < 20% (prev 128.4%; Δ -85.79% < -1%) |
| CFO/TA -0.17 > 3% & CFO -518.4m > Net Income -2.12b |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.16b) vs 12m ago 34.96% < -2% |
| Gross Margin: -71.29% > 18% (prev -0.86%; Δ -7043 % > 0.5%) |
| Asset Turnover: 17.27% > 50% (prev 13.96%; Δ 3.31% > 0%) |
| Interest Coverage Ratio: -34.15 > 6 (EBITDA TTM -2.01b / Interest Expense TTM 60.5m) |
Altman Z'' -15.00
| A: 0.09 (Total Current Assets 1.19b - Total Current Liabilities 902.5m) / Total Assets 3.10b |
| B: -2.38 (Retained Earnings -7.38b / Total Assets 3.10b) |
| 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) |
| Altman-Z'' Score: -15.50 = D |
Beneish M -3.86
| DSRI: 0.60 (Receivables 193.0m/312.7m, Revenue 676.2m/659.5m) |
| GMI: 1.00 (fallback, negative margins) |
| AQI: 1.00 (AQ_t 0.21 / AQ_t-1 0.21) |
| SGI: 1.03 (Revenue 676.2m / 659.5m) |
| TATA: -0.52 (NI -2.12b - CFO -518.4m) / TA 3.10b) |
| Beneish M-Score: -3.86 (Cap -4..+1) = AAA |
What is the price of PLUG shares?
Over the past week, the price has changed by -20.51%, over one month by -21.52%, over three months by -29.55% and over the past year by +0.54%.
Is PLUG a buy, sell or hold?
- StrongBuy: 4
- Buy: 2
- Hold: 13
- Sell: 2
- StrongSell: 3
What are the forecasts/targets for the PLUG price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 2.8 | 47.8% |
| Analysts Target Price | 2.8 | 47.8% |
| ValueRay Target Price | 1.2 | -38.2% |
PLUG Fundamental Data Overview February 05, 2026
P/B = 2.0433
P/EG = -0.27
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 = 3.79b USD (2.96b + Debt 991.4m - CCE 165.9m)
Interest Coverage Ratio = -34.15 (Ebit TTM -2.07b / Interest Expense TTM 60.5m)
EV/FCF = -5.68x (Enterprise Value 3.79b / FCF TTM -667.2m)
FCF Yield = -17.61% (FCF TTM -667.2m / Enterprise Value 3.79b)
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 = 1.22 (Enterprise Value 3.79b / Total Assets 3.10b)
Interest Expense / Debt = 1.66% (Interest Expense 16.5m / Debt 991.4m)
Taxrate = 21.0% (US default 21%)
NOPAT = -1.63b (EBIT -2.07b * (1 - 21.00%)) [loss with tax shield]
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 = -54.18% (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 = -80.42% (negative operating profit) (NOPAT -1.63b / Invested Capital 2.03b)
WACC = 9.26% (E(2.96b)/V(3.96b) * Re(11.92%) + D(991.4m)/V(3.96b) * Rd(1.66%) * (1-Tc(0.21)))
Discount Rate = 11.92% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 38.25%
Fair Price DCF = unknown (Cash Flow -667.2m)
EPS Correlation: 34.85 | EPS CAGR: 7.69% | SUE: 0.46 | # 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=-0.001 | Revisions Net=-1 | Analysts=7
EPS next Year (2026-12-31): EPS=-0.31 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=+53.8% | Growth Revenue=+21.3%