Plug Power Inc
NASDAQ:PLUG

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Plug Power Inc
NASDAQ:PLUG
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Price: 2.51 USD 20.1% Market Closed
Market Cap: 2.2B USD
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Intrinsic Value

PLUG's intrinsic value estimate is unreliable because it is based only on its multiples and doesn't use a DCF valuation.

The intrinsic value of one PLUG stock under the Base Case scenario is 3.39 USD. Compared to the current market price of 2.51 USD, Plug Power Inc is Undervalued by 26%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

PLUG Intrinsic Value
3.39 USD
Undervaluation 26%
Intrinsic Value
Price
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Base Case
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Plug Power Inc

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
Plug Power Inc

Current Assets 1.7B
Cash & Short-Term Investments 62.4m
Receivables 322.8m
Other Current Assets 1.3B
Non-Current Assets 3.1B
Long-Term Investments 96.8m
PP&E 2.1B
Intangibles 178.3m
Other Non-Current Assets 774.4m
Current Liabilities 809.6m
Accounts Payable 253.7m
Accrued Liabilities 179m
Other Current Liabilities 376.9m
Non-Current Liabilities 981.7m
Long-Term Debt 486.6m
Other Non-Current Liabilities 495.1m
Efficiency

Earnings Waterfall
Plug Power Inc

Revenue
684.5m USD
Cost of Revenue
-1.3B USD
Gross Profit
-650.6m USD
Operating Expenses
-483.1m USD
Operating Income
-1.1B USD
Other Expenses
-350.3m USD
Net Income
-1.5B USD

Free Cash Flow Analysis
Plug Power Inc

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

Plug Power's second quarter saw significant strides towards leadership in the hydrogen economy, with final commissioning of 55 MW electrolyzers and plans for an additional 100 MW by year's end. Despite operational timing issues, the revenue recognition of over $50M in electrolyzer sales is deferred to H2 2024. The company has strengthened cash management, reduced operational expenses, and optimized resources, targeting a $1.5B revenue potential from ongoing partnerships. Firm plans include expanding hydrogen plants in Louisiana and leveraging existing sites in Georgia and Tennessee. Forecasted revenues for 2024 are between $825M and $925M.

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Fundamental Scores

PLUG Profitability Score
Profitability Due Diligence

Plug Power Inc's profitability score is 16/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Years Revenue Growth
Exceptional Revenue Growth Forecast
ROIC is Increasing
Negative 1-Year Revenue Growth
16/100
Profitability
Score

Plug Power Inc's profitability score is 16/100. The higher the profitability score, the more profitable the company is.

PLUG Solvency Score
Solvency Due Diligence

Plug Power Inc's solvency score is 35/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Short-Term Solvency
Positive Net Debt
35/100
Solvency
Score

Plug Power Inc's solvency score is 35/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

PLUG Price Targets Summary
Plug Power Inc

Wall Street analysts forecast PLUG stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for PLUG is 4.25 USD with a low forecast of 1.52 USD and a high forecast of 18.9 USD.

Lowest
Price Target
1.52 USD
40% Downside
Average
Price Target
4.25 USD
69% Upside
Highest
Price Target
18.9 USD
653% Upside
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Dividends

Plug Power Inc
does not pay dividends
Shareholder Yield

Current shareholder yield for PLUG is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
No dividends
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Ownership

PLUG Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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PLUG News

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Profile

Plug Power Inc Logo
Plug Power Inc

Country

United States of America

Industry

Electrical Equipment

Market Cap

2.2B USD

Dividend Yield

0%

Description

Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. The company is headquartered in Latham, New York and currently employs 2,449 full-time employees. The firm is focused on proton exchange membrane (PEM), fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen and green hydrogen generation, storage, and dispensing infrastructure. The firm delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, the stationary power market, and more. In addition, the Company manufactures and sells fuel cell products to replace batteries and diesel generators in stationary backup power applications. The firm's products include GenDrive, GenFuel, GenCare, GenSure, GenKey, ProGen and GenFuel Electrolyzers. The Company’s products and services serve the North American and European material handling markets, and primarily supports large to mid-sized fleet, multi-shift operations in high-volume manufacturing and distribution centers.

Contact

NEW YORK
Latham
968 Albany Shaker Rd
+15187827700.0
www.plugpower.com

IPO

1999-10-28

Employees

2 449

Officers

President, CEO & Director
Mr. Andrew J. Marsh
Executive VP & CFO
Mr. Paul B. Middleton CPA
Executive VP, General Counsel & Corporate Secretary
Mr. Gerard L. Conway Jr.
Executive VP & GM of Material Handling
Mr. Jose Luis Crespo
Executive VP, GM of Energy Solutions & Chief Strategy Officer
Mr. Sanjay K. Shrestha
Chief Operating Officer
Mr. Dean Fullerton
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Chief Accounting Officer & Corporate Controller
Mr. Martin D. Hull
Chief Technology Officer
Mr. Tim Cortes
Chief Marketing Officer
Dr. Preeti Pande Ph.D.
Vice President of Human Resources
Ms. Tammy Kimble
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See Also

Discover More
What is the Intrinsic Value of one PLUG stock?

The intrinsic value of one PLUG stock under the Base Case scenario is 3.39 USD.

Is PLUG stock undervalued or overvalued?

Compared to the current market price of 2.51 USD, Plug Power Inc is Undervalued by 26%.

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