Reading the tape
NASDAQ: PLUG
Plug Power Inc.
Industrials · Electrical Equipment & Parts
Market Cap
$3.91B
52w High
$4.58
52w Low
$0.69
P/E
-2.42
Volume
131.43M
Outstanding Shares
1.15B
Price vs Fundamentals
Why The Stock Is Moving
Optimism is getting priced inModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: 255.5%Revenue (TTM): 12.9%FCF (TTM): 38.46%P/S: 74th pct
What changed
The stock rose 255.5% over the last year. Revenue grew 12.9% over the trailing twelve months. Operating margin moved from -321.21% to -114.28%. Free cash flow grew 38.46% over the trailing twelve months.
What the market seems to be pricing
The stock is trading toward the richer end of its historical P/S range (74th percentile) while business metrics are improving. More of the upside is already embedded in the multiple now.
What would invalidate this read
Operating margin is at -114.28% — continued expansion would be needed to justify the premium. Revenue growth of 12.9% is encouraging, but any deceleration puts the stretched multiple at risk. This read changes if revenue, margins, and cash flow continue to improve faster than expected — in that case the richer multiple could still prove conservative.
Company profile
Plug Power Inc. delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally.
CEOJose Luis Crespo
SectorIndustrials
IndustryElectrical Equipment & Parts
Employees3,224
IPO dateOct 29, 1999
Valuation
Forward P/E—
EV/EBITDA-4.29
Enterprise value$2.72B
Stock splits
May 20, 2011↓ Reverse
Every 10 shares became 1
Profitability & growth
Revenue growth17.63%
Gross margin-34.09%▲65.69%vs FY2024
Operating margin-114.28%▲70.20%vs FY2024
ROE-166.82%▼37.45%vs FY2024
Analyst consensus
RatingBuy
Target price$3.91▲14.66%
17
Buy
16
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 11, 2026
Q2 FY26 · EPS est -$0.10 · Revenue est $142.12M
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