Plug Power Valuation

Is PLUG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PLUG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate PLUG's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate PLUG's fair value for valuation analysis.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for PLUG?

Key metric: As PLUG is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PLUG. This is calculated by dividing PLUG's market cap by their current revenue.
What is PLUG's PS Ratio?
PS Ratio2.7x
SalesUS$659.51m
Market CapUS$1.75b

Price to Sales Ratio vs Peers

How does PLUG's PS Ratio compare to its peers?

The above table shows the PS ratio for PLUG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3x
AMSC American Superconductor
7x18.0%US$1.2b
RUN Sunrun
1.1x13.3%US$2.2b
POWL Powell Industries
3.1x8.1%US$3.7b
ARRY Array Technologies
1x11.7%US$926.9m
PLUG Plug Power
2.7x24.8%US$1.7b

Price-To-Sales vs Peers: PLUG is good value based on its Price-To-Sales Ratio (2.7x) compared to the peer average (3x).


Price to Sales Ratio vs Industry

How does PLUG's PS Ratio compare vs other companies in the US Electrical Industry?

22 CompaniesPrice / SalesEstimated GrowthMarket Cap
BW Babcock & Wilcox Enterprises
0.2x-0.03%US$183.47m
TPIC TPI Composites
0.07x13.5%US$96.08m
CBAT CBAK Energy Technology
0.4x21.1%US$79.14m
STEM Stem
0.2x30.7%US$55.56m
PLUG 2.7xIndustry Avg. 1.8xNo. of Companies22PS0246810+
22 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: PLUG is expensive based on its Price-To-Sales Ratio (2.7x) compared to the US Electrical industry average (1.8x).


Price to Sales Ratio vs Fair Ratio

What is PLUG's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PLUG PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.7x
Fair PS Ratio0.07x

Price-To-Sales vs Fair Ratio: PLUG is expensive based on its Price-To-Sales Ratio (2.7x) compared to the estimated Fair Price-To-Sales Ratio (0.1x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PLUG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$1.92
US$2.73
+42.2%
43.6%US$5.00US$1.40n/a21
Nov ’25US$2.09
US$3.92
+87.7%
86.2%US$18.00US$1.50n/a23
Oct ’25US$2.06
US$4.01
+94.6%
83.3%US$18.00US$1.50n/a23
Sep ’25US$1.88
US$4.01
+113.2%
83.3%US$18.00US$1.50n/a23
Aug ’25US$2.32
US$4.63
+99.7%
70.7%US$18.00US$1.50n/a24
Jul ’25US$2.28
US$4.79
+110.3%
66.7%US$18.00US$2.00n/a24
Jun ’25US$3.33
US$4.79
+44.0%
66.7%US$18.00US$2.00n/a24
May ’25US$2.30
US$5.05
+119.7%
61.9%US$18.00US$2.00n/a25
Apr ’25US$3.44
US$5.12
+49.0%
60.1%US$18.00US$2.50n/a25
Mar ’25US$3.89
US$5.28
+35.7%
59.9%US$18.00US$2.50n/a24
Feb ’25US$4.70
US$5.97
+27.0%
60.6%US$18.00US$2.50n/a25
Jan ’25US$4.50
US$8.24
+83.0%
64.6%US$25.00US$2.30n/a25
Dec ’24US$4.54
US$8.53
+87.9%
59.2%US$25.00US$3.50n/a26
Nov ’24US$5.75
US$14.74
+156.4%
48.8%US$37.00US$6.50US$2.0929
Oct ’24US$7.60
US$17.22
+126.6%
77.0%US$78.00US$7.50US$2.0629
Sep ’24US$8.51
US$17.83
+109.5%
74.6%US$78.00US$7.50US$1.8829
Aug ’24US$12.76
US$18.93
+48.4%
68.0%US$78.00US$9.00US$2.3229
Jul ’24US$10.39
US$18.82
+81.1%
70.1%US$78.00US$7.50US$2.2828
Jun ’24US$8.46
US$19.00
+124.6%
70.1%US$78.00US$7.50US$3.3328
May ’24US$8.83
US$23.73
+168.8%
52.4%US$78.00US$10.00US$2.3028
Apr ’24US$11.72
US$25.42
+116.9%
45.3%US$78.00US$13.00US$3.4430
Mar ’24US$14.21
US$26.60
+87.2%
42.0%US$78.00US$13.00US$3.8930
Feb ’24US$17.68
US$27.23
+54.0%
41.6%US$78.00US$13.00US$4.7030
Jan ’24US$12.37
US$29.63
+139.5%
39.4%US$78.00US$15.00US$4.5030
Dec ’23US$15.75
US$29.72
+88.7%
40.0%US$78.00US$15.00US$4.5429
Nov ’23US$15.69
US$33.34
+112.5%
37.0%US$78.00US$16.00US$5.7529

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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