Plug Power Balance Sheet Health
Financial Health criteria checks 4/6
Plug Power has a total shareholder equity of $1.8B and total debt of $655.6M, which brings its debt-to-equity ratio to 37.2%. Its total assets and total liabilities are $3.4B and $1.6B respectively.
Key information
37.16%
Debt to equity ratio
US$655.56m
Debt
| Interest coverage ratio | n/a |
| Cash | US$140.74m |
| Equity | US$1.76b |
| Total liabilities | US$1.59b |
| Total assets | US$3.35b |
Recent financial health updates
No updates
Recent updates
Market Participants Recognise Plug Power Inc.'s (NASDAQ:PLUG) Revenues Pushing Shares 27% Higher
Sep 18
Plug Power: Tax Credit Losses Aren't The Real Issue
Jul 02
Project Quantum Leap Will Streamline Costs And Improve Net Margins
Streamlining costs and refining product focus through Project Quantum Leap can enhance net margins and improve facility utilization.Plug Power: Restructuring While Waiting For The DOE Funding
Mar 14Plug Power Inc.'s (NASDAQ:PLUG) 29% Cheaper Price Remains In Tune With Revenues
Feb 02Plug Power: Electrolyzer Deployments And Increased Institutional Confidence, Amid Financial Challenges Loom
Dec 15With Plug Power Inc. (NASDAQ:PLUG) It Looks Like You'll Get What You Pay For
Dec 06Plug Power: Potential Asymmetric Upside
Nov 05Plug Power: Poor Results But Upgrading On Margin Progress - Hold
Aug 26Plug Power's Strategy Looks Poised To Bear Fruit
Aug 15Plug Power: Stock Offering Ahead Of Q2 Results Is A Huge Red Flag - Sell
Jul 19Plug Power: Broken Growth Story Needs More Than Just Hope
Jul 01Plug Power Inc.'s (NASDAQ:PLUG) Popularity With Investors Under Threat As Stock Sinks 27%
Jun 29Plug Power Inc.'s (NASDAQ:PLUG) Stock Retreats 27% But Revenues Haven't Escaped The Attention Of Investors
Apr 23Plug Power: Don't Be Early On A Longshot
Apr 04Revenues Not Telling The Story For Plug Power Inc. (NASDAQ:PLUG) After Shares Rise 32%
Feb 16Plug Power: $1 Billion ATM Facility Likely To Result In Major Dilution - Sell
Jan 18There's Reason For Concern Over Plug Power Inc.'s (NASDAQ:PLUG) Massive 30% Price Jump
Dec 26Financial Position Analysis
Short Term Liabilities: PLUG's short term assets ($1.3B) exceed its short term liabilities ($835.8M).
Long Term Liabilities: PLUG's short term assets ($1.3B) exceed its long term liabilities ($754.1M).
Debt to Equity History and Analysis
Debt Level: PLUG's net debt to equity ratio (29.2%) is considered satisfactory.
Reducing Debt: PLUG's debt to equity ratio has reduced from 177% to 37.2% 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 less than a year of cash runway based on its current free cash flow.
Forecast Cash Runway: PLUG has less than a year of cash runway if free cash flow continues to reduce at historical rates of 33.1% each year
Discover healthy companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/10/04 14:21 |
| End of Day Share Price | 2025/10/03 00:00 |
| Earnings | 2025/06/30 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Plug Power Inc. is covered by 49 analysts. 22 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Ishan Majumdar | Baptista Research |
| Moses Sutton | Barclays |
| Moses Sutton | Barclays |