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Plug Power
(NASDAQ:PLUG)
Plug Power (PLUG) vs. SPDR S&P 500 ETF (SPY)
Plug Power Business Overview & Revenue Model
Plug Power Key Performance Indicators (KPIs)
Analyzes revenue from different business segments, highlighting which areas are driving growth and profitability, and indicating the company's strategic focus and market opportunities.
Main Street DataPlug Power Earnings Call Summary
Plug Power Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 628.81M | 891.34M | 701.44M | 502.34M | -100.47M |
| Gross Profit | -624.89M | -507.79M | -194.36M | -171.31M | -523.81M |
| EBITDA | -1.98B | -1.26B | -632.53M | -409.57M | -550.95M |
| Net Income | -2.10B | -1.37B | -724.01M | -459.96M | -561.68M |
Balance Sheet | |||||
| Total Assets | 3.60B | 4.90B | 5.76B | 5.95B | 2.42B |
| Cash, Cash Equivalents and Short-Term Investments | 205.69M | 135.03M | 2.16B | 3.87B | 1.31B |
| Total Debt | 1.08B | 968.85M | 898.73M | 810.15M | 715.12M |
| Total Liabilities | 1.80B | 2.00B | 1.70B | 1.34B | 910.10M |
| Stockholders Equity | 1.73B | 2.90B | 4.06B | 4.61B | 1.51B |
Cash Flow | |||||
| Free Cash Flow | -1.06B | -1.80B | -1.29B | -551.44M | -206.53M |
| Operating Cash Flow | -728.64M | -1.11B | -828.62M | -358.18M | -156.31M |
| Investing Cash Flow | -402.36M | 728.05M | -679.37M | -1.74B | -95.33M |
| Financing Cash Flow | 983.17M | 6.12M | -77.46M | 3.60B | 1.52B |
Plug Power Technical Analysis
Plug Power Risk Analysis
Plug Power Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | $5.80B | ― | 0.86% | ― | 20.95% | ― | |
65 Neutral | $10.91B | 15.53 | 5.25% | 2.19% | 3.15% | -27.00% | |
58 Neutral | $2.11B | ― | -83.81% | ― | -19.85% | 4.94% | |
58 Neutral | $2.98B | ― | -85.86% | ― | 60.23% | 51.95% | |
54 Neutral | $1.45B | ― | 125.43% | ― | 37.60% | -161.38% | |
54 Neutral | $1.04B | ― | -68.88% | ― | 209.20% | 4.24% | |
46 Neutral | $130.59M | ― | -20.52% | ― | 48.62% | 0.23% |
Plug Power Corporate Events
On July 8, 2025, Plug Power issued a warrant to YA II PN, Ltd. for the purchase of 31,500,000 shares of common stock at an exercise price of $1.37, following stockholder approval to increase authorized shares or conduct a reverse stock split. The warrant, exercisable immediately and expiring on July 10, 2028, was issued under an exemption from registration under the Securities Act. On July 9, 2025, Plug Power filed a prospectus supplement for the resale of common stock issuable upon exercise of the warrant, indicating a strategic move to enhance liquidity and shareholder value.
The most recent analyst rating on (PLUG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Plug Power stock, see the PLUG Stock Forecast page.
On July 3, 2025, Plug Power Inc. held its annual stockholders meeting where several key proposals were voted on. The stockholders elected three Class II Directors and approved the Reverse Stock Split Proposal, the 2021 Plan Amendment Proposal, and the advisory resolution on executive compensation. However, proposals to increase authorized shares, amend voting requirements, and officer exculpation were not approved. Deloitte was ratified as the independent auditor for 2025.
The most recent analyst rating on (PLUG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Plug Power stock, see the PLUG Stock Forecast page.
On July 7, 2025, Plug Power discussed the impact of the newly passed One Big Beautiful Bill Act during a conference call. The legislation provides significant tax credits for hydrogen fuel cells and production, allowing Plug Power to make long-term strategic decisions and expand its operations. The bill’s provisions, such as the 30% investment tax credit for fuel cells and the extension of the production tax credit for clean hydrogen, are expected to enhance Plug Power’s market positioning and facilitate growth in its electrolyzer and hydrogen production businesses. This legislative support is seen as a critical momentum boost, enabling the company to better meet market demand and expand into new sectors.
The most recent analyst rating on (PLUG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Plug Power stock, see the PLUG Stock Forecast page.
On July 3, 2025, Plug Power Inc. will hold its annual stockholders meeting via a live webcast, where CEO Andrew J. Marsh will provide a corporate overview and engage with stockholders. The company is focused on achieving profitability and expanding its green hydrogen network, with strategic plans to be EBITDAS positive by 2026 and overall profitable by 2028. Plug Power is actively pursuing favorable government policies and financial support in the US, Europe, and Australia to enhance its market position and drive growth in the hydrogen sector.
The most recent analyst rating on (PLUG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Plug Power stock, see the PLUG Stock Forecast page.
On June 5, 2025, Plug Power Inc. announced the issuance of a single share of its newly designated Series F Mirroring Preferred Stock to CEO Andrew J. Marsh for $1,000. This move is intended to facilitate a vote on a proposed reverse stock split at the upcoming annual meeting on July 3, 2025. The Series F Mirroring Preferred Stock is designed to reflect the voting preferences of common stockholders on the reverse stock split proposal without overriding their decisions. This strategic step is crucial for aligning shareholder interests and potentially impacting the company’s stock structure.
The most recent analyst rating on (PLUG) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Plug Power stock, see the PLUG Stock Forecast page.
Plug Power reported its financial results for the first quarter of 2025, highlighting significant improvements in cash flow and operational milestones, including the commissioning of a hydrogen liquefaction plant in Louisiana. The company’s revenue increased to $133.7 million, driven by growing electrolyzer deliveries and material handling demand, while gross margin losses improved from -132% to -55% year-over-year. Plug Power also secured a $525 million credit facility to enhance liquidity and reduce potential dilution risk. The company continues to focus on expanding its hydrogen generation network and global electrolyzer business, with notable achievements such as a 3 GW supply agreement for a green hydrogen-to-ammonia project in Australia and surpassing 8 GW in global contracts.
The most recent analyst rating on (PLUG) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on Plug Power stock, see the PLUG Stock Forecast page.
On April 28, 2025, Plug Power Inc. announced a secured debt facility agreement with Yorkville Advisors for up to $525 million in secured debentures. The initial $210 million tranche is expected to close on May 2, 2025, with proceeds used to retire existing convertible debenture principal, reducing potential dilution. Additionally, Plug Power reported strong preliminary Q1 2025 results, with expected revenue between $130 million and $134 million, and significant cost-saving measures projected to save over $200 million annually. The completion of a new hydrogen production plant in Louisiana further strengthens Plug’s hydrogen network, positioning the company for long-term growth and profitability.