PLUG
Plug Power Inc.
PLUG lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink, though they disagree widely on how much.
PLUG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Unavailable |
PLUG's revenue is currently stable, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
PLUG PE Valuation
PLUG has no meaningful PE right now: it lost money over the past year.
PLUG Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect PLUG's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
PLUG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$1.33 | +$0.94 |
| Q1 2026 | -$1.39 | +$1.04 |
| Q4 2025 | -$1.42 | +$1.26 |
| Q3 2025 | -$2.33 | -$0.18 |
| Q2 2025 | -$2.27 | +$0.10 |
| Q1 2025 | -$2.43 | -$0.02 |
| Q4 2024 | -$2.68 | -$0.38 |
| Q3 2024 | -$2.15 | -$0.54 |
PLUG is still losing money, but far less than before: $1.33 per share over the past year, against $2.68 at its worst in late 2024.
PLUG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $200.6M | +13% |
| Q2 2026 | $178.3M | +2.5% |
| Q1 2026 | $163.5M | +22% |
| Q4 2025 | $225.2M | +18% |
| Q3 2025 | $177.1M | +1.9% |
| Q2 2025 | $174M | +21% |
| Q1 2025 | $133.7M | +11% |
| Q4 2024 | $191.5M | -14% |
PLUG's revenue is recovering but still below its 2020 peak: $201M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -38% | +160 points |
| Q2 2026 | -36% | +66 points |
| Q1 2026 | -67% | +67 points |
| Q4 2025 | -339% | +340 points |
| Q3 2025 | -197% | -73 points |
| Q2 2025 | -102% | +69 points |
| Q1 2025 | -134% | +82 points |
| Q4 2024 | -679% | -397 points |
PLUG's operating margin was −38% last quarter, up 159 points from the same quarter a year ago.
PLUG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$79.7M | +$37.8M |
| Q2 2026 | -$100.4M | +$130.1M |
| Q1 2026 | -$152.4M | -$6.4M |
| Q4 2025 | -$153M | +$12.2M |
| Q3 2025 | -$117.5M | +$116.6M |
| Q2 2025 | -$230.4M | +$125.6M |
| Q1 2025 | -$146M | +$114.3M |
| Q4 2024 | -$165.2M | +$258.6M |
PLUG has burned cash in almost every quarter: −$486M over the past year, against −$659M the year before.
PLUG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +1.5M shares |
| 1 year | +23% | +265M shares |
| 3 years | +136% | +802M shares |
| 5 years | +171% | +878M shares |
PLUG has 1.4B diluted shares, up 23% from a year ago.
PLUG Net Leverage
PLUG's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
PLUG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 28.4 | Oversold |
| Stochastic | 5.2 | Oversold |
PLUG's weekly RSI is 28 (oversold) and its Stochastic is 5 (oversold).
PLUG PE vs Industrials Sector
PLUG has no meaningful PE right now: it lost money over the past year.
PLUG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.55 | 20% below |
| 20 week MA | $1.94 | 36% below |
| 50 week MA | $2.31 | 46% below |
| 100 week MA | $2.06 | 40% below |
| 200 week MA | $4.02 | 69% below |
PLUG is in a downtrend: it's below all five of its weekly moving averages, and 69% below its 200-week average.
PLUG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $3.08 | $35.6 | +1055% |
| 2021 | $35.6 | $29.4 | -17% |
| 2022 | $29.4 | $12.3 | -58% |
| 2023 | $12.3 | $4.50 | -64% |
| 2024 | $4.50 | $2.38 | -47% |
| 2025 | $2.38 | $2.07 | -13% |
| 2026 YTD | $2.07 | $1.24 | -40% |
PLUG has finished five years in a row lower, and it's down 40% so far in 2026.