PLUG
Plug Power Inc.
PLUG's outlook is improving, though it still trails on the overall score.
VRT
Vertiv Holdings Co
VRT has the edge over PLUG overall, supported by stronger valuation and stronger fundamentals.
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.
VRT Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
VRT's revenue, profitability, cash flow and balance sheet are all currently strong.
PLUG PE Valuation
PLUG has no meaningful PE right now: it lost money over the past year.
VRT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 23x | $210 | — |
| Current | 39x | $210 | — |
| Cheap | 58x | $308 | +47% |
| Fair | 72x | $383 | +83% |
| Expensive | 88x | $472 | +125% |
Historical ranges are pointers, not guarantees.
VRT's PE is in its cheap range at 39x. If earnings grow as analysts expect, today's price would be 23x next year's earnings.
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.
VRT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Moderate |
Analysts expect strong earnings and revenue growth for VRT, with profitability improving.
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.
VRT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.14 | +71% |
| Q3 2026 | $5.35 | +102% |
| Q2 2026 | $4.42 | +111% |
| Q1 2026 | $3.98 | +131% |
| Q4 2025 | $3.41 | +166% |
| Q3 2025 | $2.65 | +75% |
| Q2 2025 | $2.09 | +62% |
| Q1 2025 | $1.72 | +64% |
| Q4 2024 | $1.28 | +7.6% |
VRT has the edge over PLUG on earnings quality, reporting a profit while its opponent remains loss making.
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.
VRT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.3B | +61% |
| Q2 2026 | $3.3B | +24% |
| Q1 2026 | $2.6B | +30% |
| Q4 2025 | $2.9B | +23% |
| Q3 2025 | $2.7B | +29% |
| Q2 2025 | $2.6B | +35% |
| Q1 2025 | $2B | +24% |
| Q4 2024 | $2.3B | +26% |
VRT has the edge over PLUG on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +3.5 points |
| Q2 2026 | 19% | +2.7 points |
| Q1 2026 | 17% | +2.3 points |
| Q4 2025 | 20% | +0.7 points |
| Q3 2025 | 19% | +1.4 points |
| Q2 2025 | 17% | -0.4 points |
| Q1 2025 | 14% | +1.9 points |
| Q4 2024 | 19% | +4.2 points |
VRT has the edge over PLUG on profitability, with a higher operating margin.
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.
VRT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $654.9M | +41% |
| Q2 2026 | $926.5M | +233% |
| Q1 2026 | $654.2M | +145% |
| Q4 2025 | $885.6M | +143% |
| Q3 2025 | $463.5M | +36% |
| Q2 2025 | $277.9M | -19% |
| Q1 2025 | $266.8M | +162% |
| Q4 2024 | $364.5M | +18% |
VRT has the edge over PLUG on cash generation, producing positive trailing cash flow while its opponent burns cash.
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.
VRT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -64.9K shares |
| 1 year | +0.4% | +1.8M shares |
| 3 years | +1.1% | +4.4M shares |
| 5 years | +10% | +36M shares |
| Available history | +63% | +152M shares |
VRT has the edge over PLUG on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $599.9M |
PLUG Net Leverage
PLUG's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
VRT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.3x | Very low |
| Q4 2025 | 0.6x | Very low |
| Q3 2025 | 0.8x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.8x | Very low |
| Q4 2024 | 1.0x | Healthy |
VRT has more cash than debt.
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).
VRT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.4 | Neutral |
VRT's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
PLUG PE vs Industrials Sector
PLUG has no meaningful PE right now: it lost money over the past year.
VRT PE vs Industrials Sector
| Metric | VRT | Sector median | Relative |
|---|---|---|---|
| PE | 39x | 24x | 63% above |
| PE % | 3 | 58 | 55 pts below |
VRT is trading at 39x earnings, a 63% premium to the Industrials sector's median of 24x.
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.
VRT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $221.8 | 5.5% below |
| 20 week MA | $254.4 | 18% below |
| 50 week MA | $253.9 | 17% below |
| 100 week MA | $189.1 | 11% above |
| 200 week MA | $123.5 | 70% above |
VRT has the edge over PLUG on trend strength, trading above more of its moving averages.
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.
VRT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.9 | $18.9 | +73% |
| 2021 | $18.9 | $24.9 | +31% |
| 2022 | $24.9 | $12.8 | -48% |
| 2023 | $12.8 | $48.0 | +275% |
| 2024 | $48.0 | $115.1 | +140% |
| 2025 | $115.1 | $167.6 | +46% |
| 2026 YTD | $167.6 | $209.6 | +25% |
VRT has the edge over PLUG on returns for 2026, with the stronger performance.