NasdaqCM:PLUG

Stock Analysis Report

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Executive Summary

Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe.


Snowflake Analysis

Slightly overvalued with limited growth.


Similar Companies

Share Price & News

How has Plug Power's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PLUG's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

7.1%

PLUG

2.0%

US Electrical

2.3%

US Market


1 Year Return

313.0%

PLUG

8.2%

US Electrical

6.7%

US Market

Return vs Industry: PLUG exceeded the US Electrical industry which returned 6.4% over the past year.

Return vs Market: PLUG exceeded the US Market which returned 6% over the past year.


Shareholder returns

PLUGIndustryMarket
7 Day7.1%2.0%2.3%
30 Day79.9%-6.4%-0.7%
90 Day148.7%18.4%17.1%
1 Year313.0%313.0%10.5%8.2%9.0%6.7%
3 Year361.2%361.2%19.5%12.5%36.7%27.8%
5 Year314.8%314.8%13.2%4.1%65.2%46.9%

Price Volatility Vs. Market

How volatile is Plug Power's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

27.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PLUG ($9.5) is trading below our estimate of fair value ($13.09)

Significantly Below Fair Value: PLUG is trading below fair value by more than 20%.


Price To Earnings Ratio

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

PE vs Market: PLUG is unprofitable, so we can't compare its PE 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 is overvalued based on its PB Ratio (26.7x) compared to the US Electrical industry average (2.4x).


Next Steps

Future Growth

How is Plug Power forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

66.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PLUG is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: PLUG is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: PLUG is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: PLUG's revenue (30.6% per year) is forecast to grow faster than the US market (9.3% per year).

High Growth Revenue: PLUG's revenue (30.6% 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.


Next Steps

Past Performance

How has Plug Power performed over the past 5 years?

-15.4%

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 -15.4% 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 (-14.4%).


Return on Equity

High ROE: PLUG has a negative Return on Equity (-83.76%), as it is currently unprofitable.


Next Steps

Financial Health

How is Plug Power's financial position?


Financial Position Analysis

Short Term Liabilities: PLUG's short term assets ($277.1M) exceed its short term liabilities ($151.6M).

Long Term Liabilities: PLUG's short term assets ($277.1M) do not cover its long term liabilities ($487.1M).


Debt to Equity History and Analysis

Debt Level: PLUG's debt to equity ratio (200.1%) is considered high.

Reducing Debt: PLUG had negative shareholder equity 5 years ago, but is now positive and has therefore improved.


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


Next Steps

Dividend

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


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.


Current Payout to Shareholders

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


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of PLUG's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

5.5yrs

Average management tenure


CEO

Andy Marsh (64yo)

12.25yrs

Tenure

US$3,695,570

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 ($USD3.70M) is below average for companies of similar size in the US market ($USD5.83M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Andrew Marsh
President12.25yrsUS$3.70m0.034% $992.0k
Paul Middleton
Senior VP & CFO5.58yrsUS$1.73m0.035% $1.0m
Keith Schmid
Senior VP & COO6.75yrsUS$1.76m0.022% $655.5k
Gerard Conway
Senior VP15.83yrsUS$1.37m0.0034% $99.8k
Jose Crespo
Vice President of Global Sales5.5yrsUS$1.49m0.026% $776.8k
Martin Hull
Chief Accounting Officer & Corporate Controller5.25yrsno data0.012% $347.0k
Teal Hoyos
Director of Marketing Communicationsno datano datano data
Tammy Kimble
Vice President of Human Resources0.50yrno datano data
Sanjay K. Shrestha
Chief Strategy Officer1.25yrsno data0.011% $330.9k
Chris Suriano
Executive Vice President of Service1.5yrsno datano data

5.5yrs

Average Tenure

53yo

Average Age

Experienced Management: PLUG's management team is seasoned and experienced (5.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Andrew Marsh
President12.25yrsUS$3.70m0.034% $992.0k
Jonathan Silver
Independent Director2.08yrsUS$152.41k0.015% $426.6k
George McNamee
Independent Chairman23.08yrsUS$197.41k0.28% $8.3m
Gary Willis
Independent Director17.33yrsUS$177.41k0.13% $3.8m
Maureen Helmer
Independent Director16.5yrsUS$172.41k0.076% $2.2m
Johannes Roth
Independent Director7.25yrsUS$157.41k0.069% $2.0m
Gregory Kenausis
Independent Director6.75yrsUS$165.06k0.061% $1.8m
Lucas Schneider
Independent Director3.33yrsUS$152.41k0.038% $1.1m

9.8yrs

Average Tenure

63yo

Average Age

Experienced Board: PLUG's board of directors are considered experienced (9.8 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.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 25.9%.


Top Shareholders

Company Information

Plug Power Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Plug Power Inc.
  • Ticker: PLUG
  • Exchange: NasdaqCM
  • Founded: 1997
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: US$2.936b
  • Shares outstanding: 309.02m
  • Website: https://www.plugpower.com

Number of Employees


Location

  • Plug Power Inc.
  • 968 Albany Shaker Road
  • Latham
  • New York
  • 12110
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PLUGNasdaqCM (Nasdaq Capital Market)YesCommon SharesUSUSDOct 1999
PLUNDB (Deutsche Boerse AG)YesCommon SharesDEEUROct 1999
PLUNXTRA (XETRA Trading Platform)YesCommon SharesDEEUROct 1999
PLUGSWX (SIX Swiss Exchange)YesCommon SharesCHCHFOct 1999
0R1JLSE (London Stock Exchange)YesCommon SharesGBUSDOct 1999
PLUGWBAG (Wiener Boerse AG)YesCommon SharesATEUROct 1999
PLUNETLX (Eurotlx)YesCommon SharesITEUROct 1999

Biography

Plug Power Inc. provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen 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 hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing maintenance and service program for GenDrive and GenSure fuel cells, GenFuel products, and ProGen engines; and GenSure, a stationary fuel cell solution that provides modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors. It also provides GenKey, a turn-key solution for transitioning to fuel cell power; and ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans. The company offers its products to retail-distribution and manufacturing businesses through direct product sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was founded in 1997 and is headquartered in Latham, New York. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/08 23:53
End of Day Share Price2020/07/08 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


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 here.