Plug Power Inc.

US$1.45As of Sun 8 Nov 2026, 12:00 UTC

NASDAQ:PLUGIndustrials

Country USA

PE (Fwd) •••

TSR 10Y CAGR (0.53%)

Div yield —

ROE (144.96%)

Electrical Equipment & Parts

Beta (5Y) 2.15

PE TTM —

TSR TTM (46.10%)

Mkt cap US$2.026B

ROIC (15.48%)

SE Grade™

—

Value

Quality

Moat

Consensus

Reference

$1.65

14.11%

(93.41%)

Buy 10|4|1|4|0

TTM

FYE 31 Dec USD

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026E

Trend

10Y

Peers

205.4

Revenue$M

211.7

217.4

224.0

232.4

244.1

255.7

268.1

285.1

293.6

310.8

215.2

4.95%

4.33%

8.48

Revenue growth%

7.43

8.33

5.66

5.77

2.81

5.37

4.33

4.85

3.46

3.34

13.90

4.33

5.11

24.01

Gross margin%

10.82

10.80

10.65

13.05

14.06

14.72

14.22

12.28

14.72

17.33

28.16

14.72

13.56

20.25

Operating margin%

17.01

16.47

17.09

14.18

14.48

16.68

13.90

13.20

11.56

14.36

14.15

13.90

14.42

7.25

Net margin%

13.87

16.51

16.66

16.78

15.41

14.62

16.11

15.28

15.59

15.52

16.43

15.52

15.55

28.50

P/E ratio (avg)x

10.96

10.97

10.09

11.35

11.10

12.65

13.86

12.63

13.88

13.62

18.66

13.62

11.99

11.62

EV/EBITx

44.73

48.66

54.16

52.17

48.45

53.55

60.75

68.69

71.32

79.32

28.50

68.69

53.85

17.83

FCF yield (avg)%

16.56

18.29

18.06

18.07

16.96

17.58

14.78

11.96

13.00

12.52

7.98

13.00

16.76

2.89

FCF margin%

14.88

14.94

16.08

15.04

14.15

14.86

16.03

16.09

16.67

15.00

13.38

16.03

15.02

1.108

FCF / Net incomex

0.693

0.740

0.663

0.712

0.773

0.729

0.783

0.766

0.718

0.725

1.636

0.729

0.727

9.03

ROIC%

1.79

1.15

3.46

6.34

7.51

5.20

6.34

8.13

6.38

5.35

3.61

6.34

5.84

2.32

Return on equity%

18.53

18.21

16.90

19.06

19.20

18.36

17.66

15.08

15.93

12.97

24.26

15.93

17.93

21.79

Return on assets%

31.69

33.70

33.03

32.62

33.34

35.31

32.92

34.36

36.38

38.96

14.90

35.31

33.52

0.27

EPS$

0.11

0.12

0.14

0.16

0.17

0.18

0.17

0.19

0.28

3.27%

5.98%

—

29.47

EPS growth%

11.85

10.42

12.53

14.89

16.68

16.16

17.47

16.05

15.74

15.13

25.13

16.05

15.43

0.12

Bookvalue per sh$

0.11

0.10

0.11

0.12

0.11

0.12

0.11

0.10

0.09

0.12

(4.20%)

(2.03%)

—

0.13

FCF per share$

0.22

0.23

0.22

0.23

0.22

0.20

0.19

0.17

0.16

0.26

(6.48%)

(2.42%)

—

0.27

Dividend per sh$

0.11

0.12

0.11

0.10

0.09

0.08

0.09

(4.78%)

(5.32%)

—

11.93

Div yield (avg)%

7.31

8.73

9.50

7.80

8.43

11.02

12.24

9.86

12.16

12.93

8.04

12.16

9.68

7.54

Payout ratio%

19.52

22.23

21.37

19.29

17.77

20.33

21.49

19.37

21.13

23.10

3.90

21.13

20.73

1.422

Shares (diluted)B

1.176

1.090

1.094

1.144

1.241

1.323

1.322

1.241

1.321

1.230

1.382

(0.18%)

(0.22%)

6.25

Buyback yield%

21.60

18.92

19.34

17.41

15.07

12.64

14.73

14.64

15.63

16.20

3.35

14.73

15.91

0.335

D/E ratiox

1.528

1.704

1.891

1.845

1.843

2.136

2.494

2.903

3.518

3.556

0.588

2.903

2.013

315.7

Enterprise value$M

103.0

100.2

96.97

101.3

92.00

82.62

82.50

76.15

67.77

73.25

306.9

(4.46%)

(4.43%)

108.7

LT debt$M

390.6

364.8

355.5

342.8

330.6

353.1

351.5

400.7

454.8

429.0

246.7

5.34%

1.09%

Peers (US$2.026B)

Cap (US$)

Energizer Holdings…

1.633B

20.30x

Preformed Line…

1.279B

22.02x

Amprius Technologies…

1.274B

—

AQ Group AB (publ)

2.018B

26.47x

Capital

TTM

10Y

Leveragex

6.141

(0.048)

EBIT/Intx

0.733

0.284

0.252

Own earn%

80.00

69.68

79.77

Sh yield%

18.18

26.97

27.31

Owners

Insiders/Inst%

3.11

43.71

Short interest%

3.72

SBC / revenue%

2.35

Record

10Y

Profitable years

10/10

Revenue growth years

10/10

EPS growth years

10/10

Dividend streakyrs

Op margin range%

12–17

$1 testx

0.1

Incr. ROIC%

Plug Power Inc. designs, develops and sells hydrogen products in Europe, Australia, North America and internationally, including GenDrive fuel cell systems for forklifts and other material handling EVs, GenFuel hydrogen fueling systems, GenEco electrolyzers, cryogenic equipment and liquid hydrogen. It serves material handling, fuel cell vehicle fleet and stationary power customers through direct sales, OEMs and dealer networks.

Growth vs revenue

Latest

Trend

10Y CAGR

Rel growth

Revenue

$310.8M

4.33%

1.00×

Cost of revenue

$167.1M

4.57%

1.02×

Operating expenses

$50.99M

4.49%

1.02×