Plug Power (NasdaqCM:PLUG) - Share price, News & Analysis

PLUG fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	5/6
Past Performance	0/6
Financial Health	5/6
Dividends	0/6

PLUG Stock Overview

Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally.

Rewards

Earnings are forecast to grow 69.37% per year

Risk Analysis

Volatile share price over the past 3 months

Plug Power Competitors

Sunrun

NasdaqGS:RUN

US$4.9b

Advent Technologies Holdings

NasdaqCM:ADN

US$71.2m

Toyota Motor

TSE:7203

JP¥28.1t

Raytheon Technologies

NYSE:RTX

US$138.8b

Price History & Performance

Summary of all time highs, changes and price drops for Plug Power
Historical stock prices
Current Share Price	US$15.76
52 Week High	US$46.50
52 Week Low	US$12.70
Beta	1.72
1 Month Change	-30.73%
3 Month Change	-27.94%
1 Year Change	-46.92%
3 Year Change	508.49%
5 Year Change	747.31%
Change since IPO	-90.15%

Recent News & Updates

May 10

Plug Power: There's No Bottom In Sight - Sell And Move On

Plug Power's Q1 card was nothing short of a disaster, as it missed estimates on revenue and profitability. The company was impacted by natural gas costs and supply chain snarls. We believe that Plug's path to profitability by 2025 could be at significant risk. Furthermore, the Street analysts haven't proved that they could model its profitability accurately. We urge investors to get out of PLUG stock. The stock also broke below a key consolidation zone, with no bottom in sight. We revise our rating on PLUG stock from Hold to Sell.

Apr 26

Where Will Plug Power Stock Be In 5 Years?

Plug Power guided for 2022 revenue in the $900-925 million range; if that guidance is met, PLUG will get closer to its 2025 top line target of $3 billion. The key short-term catalysts for PLUG are news flow with respect to new hydrogen supply contract announcements, and new policies that are positive for renewables and hydrogen-based fuels. My Buy rating for PLUG stays unchanged, as I see the company growing its top line and achieving decent profitability in five years' time in line with management guidance.

Apr 20

Walmart is Testing, Europe Might be Next - the Growth Potential for Plug Power Inc. (NASDAQ:PLUG)

Investors looking to hold a company during its high growth period may be interested in Plug Power Inc. (NASDAQ:PLUG). In this article, We will review their business along with the latest Walmart deal, and translate it into an estimate for their growth potential.

Shareholder Returns

	PLUG	US Electrical	US Market
7D	-0.8%	0.9%	1.0%
1Y	-46.9%	-21.5%	-15.1%

Return vs Industry: PLUG underperformed the US Electrical industry which returned -21.4% over the past year.

Return vs Market: PLUG underperformed the US Market which returned -13.2% over the past year.

Price Volatility

Is PLUG's price volatile compared to industry and market?
PLUG volatility
PLUG Average Weekly Movement	13.5%
Electrical Industry Average Movement	11.2%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: PLUG is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: PLUG's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

Founded	Employees	CEO	Website
1997	2,249	Andy Marsh	https://www.plugpower.com

Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure. The company offers GenDrive, a hydrogen-fueled PEM fuel cell system that provides power to material handling electric vehicles; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing internet of things-based maintenance and service program for GenDrive and GenSure fuel cells, GenFuel hydrogen storage and dispensing products, and ProGen engines; and GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors.

Plug Power Fundamentals Summary

How do Plug Power's earnings and revenue compare to its market cap?
PLUG fundamental statistics
Market Cap	US$9.11b
Earnings (TTM)	-US$555.71m
Revenue (TTM)	US$571.19m

16.0x

P/S Ratio

-16.4x

P/E Ratio

Is PLUG overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PLUG income statement (TTM)
Revenue	US$571.19m
Cost of Revenue	US$693.13m
Gross Profit	-US$121.94m
Other Expenses	US$433.77m
Earnings	-US$555.71m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	-0.96
Gross Margin	-21.35%
Net Profit Margin	-97.29%
Debt/Equity Ratio	12.2%

How did PLUG perform over the long term?

See historical performance and comparison

Valuation

Is Plug Power undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

2.04x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: PLUG ($15.76) is trading above our estimate of fair value ($11.67)

Significantly Below Fair Value: PLUG is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: PLUG is unprofitable, so we can't compare its Price-To-Earnings Ratio to the US Electrical industry average.

PE vs Market: PLUG is unprofitable, so we can't compare its Price-To-Earnings Ratio to the US market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate PLUG's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: PLUG's Price-To-Book Ratio (2x) is in line with the US Electrical industry average.

Future Growth

How is Plug Power forecast to perform in the next 1 to 3 years based on estimates from 28 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

69.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLUG is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: PLUG is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: PLUG's is expected to become profitable in the next 3 years.

Revenue vs Market: PLUG's revenue (35.4% per year) is forecast to grow faster than the US market (7.7% per year).

High Growth Revenue: PLUG's revenue (35.4% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PLUG is forecast to be unprofitable in 3 years.

Past Performance

How has Plug Power performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-47.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PLUG is currently unprofitable.

Growing Profit Margin: PLUG is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: PLUG is unprofitable, and losses have increased over the past 5 years at a rate of 47.9% per year.

Accelerating Growth: Unable to compare PLUG's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: PLUG is unprofitable, making it difficult to compare its past year earnings growth to the Electrical industry (33.9%).

Return on Equity

High ROE: PLUG has a negative Return on Equity (-12.41%), as it is currently unprofitable.

Financial Health

How is Plug Power's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: PLUG's short term assets ($4.1B) exceed its short term liabilities ($358.3M).

Long Term Liabilities: PLUG's short term assets ($4.1B) exceed its long term liabilities ($969.2M).

Debt to Equity History and Analysis

Debt Level: PLUG has more cash than its total debt.

Reducing Debt: PLUG's debt to equity ratio has reduced from 51.6% to 12.2% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: PLUG has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if PLUG has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.

Dividend

What is Plug Power current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate PLUG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate PLUG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if PLUG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if PLUG's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as PLUG has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

5.2yrs

Average management tenure

CEO

Andy Marsh (65 yo)

14.08yrs

Tenure

US$52,248,305

Compensation

Mr. Andrew J. Marsh, also known as Andy, has been the Chief Executive Officer and President of Plug Power Inc. since April 8, 2008. Mr. Marsh Co-Founded Valere Power Inc. in 2001 and served as its Presiden...

CEO Compensation Analysis

Compensation vs Market: Andy's total compensation ($USD52.25M) is above average for companies of similar size in the US market ($USD8.23M).

Compensation vs Earnings: Andy's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: PLUG's management team is seasoned and experienced (5.2 years average tenure).

Board Members

Experienced Board: PLUG's board of directors are considered experienced (6.9 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/25 00:00
End of Day Share Price	2022/05/25 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31