Saturday 17 October 2026
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Plug Power, Inc.
PLUG Industrials Electrical Equipment & Parts
Plug Power, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $709.9 million, up 12.9% from fiscal 2024. In the quarter to June 2026, revenue grew 2.49%, EPS grew 30.0%, free cash flow grew 56.9% and total debt rose 52.6%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
1.38
0.11
−7.38%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
3 | 3 | 5 | 4 | — | — | 2 | 2 | 2 | 4 |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/S ratio |
2.64 | 5.23 | 1.56 | 3.26 | 0.00 | 31.37 | 10.07 | 3.07 | 2.66 | 3.18 |
Altman Z-Score |
(5.42) | (5.39) | (4.27) | (1.58) | 7.83 | 7.12 | 2.06 | (1.00) | (3.44) | (4.81) |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
(13.89) | (16.23) | (11.68) | (5.11) | 1.42 | 6.23 | 2.98 | (2.21) | (7.35) | (11.45) |
P/Operating CF |
6,622.73 | 24.80 | (16.24) | (492.06) | 11,680.51 | (1,628.68) | (23.03) | (11.26) | (12.74) | (15.20) |
Beneish M-Score |
(5.24) | — | — | (5.04) | — | — | — | — | — | — |
P/B ratio |
2.57 | 7.11 | 100.04 | 5.77 | 8.20 | 3.42 | 1.74 | 0.94 | 0.93 | 2.25 |
Price to Tangible BV |
3.00 | 8.67 | 0.00 | 6.49 | 8.88 | 3.73 | 1.96 | 1.01 | 0.97 | 2.32 |
EV/Sales |
2.77 | 5.88 | 2.80 | 4.02 | (119.07) | 24.62 | 7.58 | 3.35 | 3.12 | 3.41 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
(7.75) | (9.78) | (8.36) | (17.32) | (71.40) | (34.53) | (6.41) | (2.70) | (2.69) | (4.52) |
EV/FCF |
(7.09) | (9.16) | (7.57) | (15.03) | (61.50) | (23.20) | (4.19) | (1.68) | (1.93) | (3.75) |
Quick Ratio |
1.04 | 0.54 | 0.64 | 1.64 | 6.38 | 9.70 | 3.85 | 0.62 | 0.75 | 1.13 |
Current Ratio |
1.67 | 1.03 | 1.06 | 2.34 | 7.21 | 10.58 | 5.20 | 1.85 | 1.97 | 2.31 |
Net Debt/EBITDA |
(0.25) | (0.71) | (3.76) | (6.71) | 1.68 | 8.44 | 2.80 | (0.20) | (0.15) | (0.11) |
Debt/Assets |
28.38% | 38.30% | 69.82% | 55.90% | 19.86% | 10.07% | 9.89% | 12.31% | 19.27% | 27.69% |
Debt/Equity |
0.80 | 1.41 | 100.45 | 2.84 | 0.30 | 0.13 | 0.14 | 0.21 | 0.38 | 0.72 |
Asset Turnover |
0.37 | 0.39 | 0.53 | 0.44 | (0.06) | 0.12 | 0.12 | 0.17 | 0.15 | 0.23 |
Operating CF/Net income |
0.51 | 0.46 | 0.68 | 0.62 | 0.26 | 0.78 | 1.14 | 0.81 | 0.35 | 0.33 |
Capex/Depreciation |
(0.39) | (0.39) | (0.32) | (0.37) | (0.75) | (4.86) | (7.90) | (9.96) | (3.51) | (2.43) |
Interest Coverage |
(4.81) | (10.08) | (3.36) | (1.29) | (9.65) | (10.12) | (17.41) | (29.72) | (43.32) | (22.53) |
| (54.89%) | (164.02%) | (224.36%) | (129.03%) | (74.67%) | (15.15%) | (16.71%) | (39.34%) | (89.45%) | (116.08%) | |
| (25.58%) | (50.89%) | (25.91%) | (16.30%) | (40.96%) | (11.22%) | (12.36%) | (25.66%) | (49.49%) | (52.65%) | |
ROIC |
(33.47%) | (45.89%) | (21.79%) | (9.78%) | (67.92%) | (22.47%) | (18.36%) | (26.66%) | (60.17%) | (78.62%) |
Return on Tangible Assets |
(109.29%) | (910.34%) | (387.36%) | (43.95%) | (40.96%) | (10.74%) | (21.36%) | (60.61%) | (131.93%) | (150.98%) |
Average Days of Receivables |
52.55 | 88.12 | 78.25 | 40.90 | (168.49) | 67.34 | 67.36 | 99.84 | 91.27 | 69.28 |
Research and Development Expense of Revenue |
25.57% | 28.65% | 7.32% | 6.55% | (29.87%) | 12.89% | 14.20% | 12.76% | 12.28% | 8.16% |
Selling, General and Administrative Expense of Revenue |
41.40% | 44.94% | 21.63% | 18.79% | (85.10%) | 35.80% | 51.88% | 47.40% | 59.81% | 53.47% |
Intangible Assets out of Total Assets |
0.05 | 0.05 | 0.03 | 0.02 | 0.05 | 0.06 | 0.08 | 0.04 | 0.02 | 0.01 |
Share Based Compensation of Revenue |
11.22% | 9.19% | 5.03% | 4.74% | (18.38%) | 15.22% | 25.61% | 18.28% | 13.07% | 7.12% |
Graham Net Nets |
(0.20) | (0.15) | (0.85) | (0.29) | 0.07 | 0.20 | 0.23 | (0.08) | (0.19) | (0.08) |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
(26.45%) | (24.38%) | (31.60%) | (12.34%) | (4.26%) | (2.90%) | (10.26%) | (49.89%) | (127.70%) | (68.53%) |
Free Cash Flow Yield |
(14.82%) | (12.28%) | (23.74%) | (8.20%) | (1.50%) | (3.38%) | (17.96%) | (64.83%) | (60.71%) | (28.61%) |
Revenue per Share |
0.46 | 0.46 | 0.80 | 0.97 | (0.26) | 0.90 | 1.21 | 1.50 | 0.80 | 0.62 |
Operating CF per Share |
(0.16) | (0.28) | (0.27) | (0.22) | (0.44) | (0.64) | (1.43) | (1.86) | (0.93) | (0.47) |
Capex per Share |
(0.02) | (0.02) | (0.03) | (0.03) | (0.07) | (0.31) | (0.75) | (1.12) | (0.37) | (0.10) |
Free Cash Flow per Share |
(0.18) | (0.30) | (0.29) | (0.26) | (0.51) | (0.95) | (2.18) | (2.97) | (1.29) | (0.56) |
Cash per Share |
0.32 | 0.18 | 0.26 | 0.82 | 3.88 | 7.14 | 4.00 | 0.59 | 0.51 | 0.48 |
Shareholders Equity per Share |
0.47 | 0.34 | 0.01 | 0.55 | 4.13 | 8.25 | 7.00 | 4.87 | 2.30 | 0.88 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
0.47 | 0.34 | 0.01 | 0.55 | 4.13 | 8.25 | 7.00 | 4.87 | 2.30 | 0.88 |
Free Cash Flow |
(32.38) | (64.27) | (64.42) | (61.41) | (179.96) | (531.27) | (1,265.23) | (1,770.67) | (1,015.24) | (647.00) |
Working Capital |
44.45 | 3.89 | 9.25 | 179.70 | 1,380.83 | 4,027.97 | 2,670.02 | 822.17 | 729.00 | 799.68 |
Capital Expenditures |
(2.74) | (4.09) | (6.07) | (8.09) | (24.48) | (173.09) | (436.61) | (664.10) | (286.60) | (111.16) |
Net Current Asset Value |
(44.81) | (77.56) | (232.00) | (215.95) | 818.83 | 3,104.15 | 1,601.24 | (217.65) | (317.61) | (180.99) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.04 | 0.03 | 0.04 | (0.26) | 0.34 | 0.62 | 0.75 | 0.46 | 0.16 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.85 | 1.01 | 1.47 | 1.45 | 0.44 | 0.14 | 0.08 | 0.05 | 0.09 | 0.16 |
Cash ROIC |
(15.37%) | (29.74%) | (19.45%) | (8.86%) | (5.47%) | (5.78%) | (18.21%) | (45.95%) | (34.94%) | (28.41%) |
Accounts Receivable Turnover |
4.79 | 5.55 | 5.66 | 7.29 | (2.71) | 7.40 | 6.32 | 4.78 | 3.14 | 4.86 |
Accounts Payable Turnover |
3.00 | 3.44 | 5.19 | 5.83 | 8.31 | 9.45 | 6.30 | 6.22 | 5.71 | 5.44 |
Inventory Turnover |
2.52 | 3.26 | 4.14 | 3.65 | 3.55 | 3.30 | 1.96 | 1.74 | 1.53 | 1.58 |
Average Days of Payables |
148.60 | 120.57 | 63.48 | 67.19 | 48.71 | 50.01 | 78.19 | 67.26 | 52.69 | 64.70 |
Days of Inventory on Hand |
138.55 | 138.83 | 87.34 | 120.47 | 135.24 | 145.84 | 263.07 | 250.77 | 198.74 | 199.75 |
Average Receivables |
17.29 | 18.05 | 30.76 | 31.56 | 34.40 | 67.86 | 111.06 | 186.63 | 200.53 | 146.00 |
Average Payables |
26.28 | 37.24 | 38.59 | 37.60 | 45.29 | 71.25 | 142.10 | 224.86 | 219.40 | 174.86 |
Average Inventory |
31.35 | 39.36 | 48.34 | 60.15 | 105.89 | 204.27 | 457.40 | 803.44 | 821.95 | 601.81 |
Average Assets |
225.14 | 255.82 | 330.57 | 524.92 | 1,455.40 | 4,100.68 | 5,857.18 | 5,333.51 | 4,252.79 | 3,098.71 |
Average Common Equity |
104.91 | 79.37 | 38.18 | 66.31 | 798.41 | 3,036.31 | 4,332.96 | 3,479.17 | 2,352.94 | 1,405.54 |
Columns are period end dates