PLUG Power Inc · Electrical Industrial Apparatus

PLUG

High riskNext report: Not enough history

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The short version

A company still losing money with steady sales, with high risk. Institutions are adding.

Going well

Sales up 13% last year

Watch out for

About 4 months of cash left at its current burn
Share count growing 32.3% a year (dilution)
Losing money, losses are large next to sales

Money moves

Insiders sold $13K in the last 30 days, all through pre-planned sales
Institutions added 7.9% to their holdings in the quarter ending June 2026 (261 bought, 149 sold)
Held by Philippe Laffont (Coatue), Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$1.37-0.7% that day

Company value: $1.9B; Share price times all shares
Price vs sales: 2.6x; No profit over the last year, so this compares value with sales instead
Cash vs value: 8%; Cash as a share of company value

From PLUG's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$178.3M+2.5% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $744.1M, up 11% from the 12 months before.

What the price assumes

Your guesses, our math

Move the sliders to your own view of PLUG. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).

Sales growth+11% a yearRecently: +11% a yearProfit margin10%Not reportedP/E at the end15xMany steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.3B

Profit in 5 years$125M

Price these guesses point to$0.84-39% vs $1.37 todayAbout -9.4% a year, before dividends

What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 23% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

0/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.-120.3%
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-229.9%
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$647.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+131.6% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.-34.1%

Revenue: $709.9M; +12.9% vs prior year
Current ratio: 2.31x; short-term assets / bills due
Free cash flow: -$647.0M; -91.1% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity. A checklist is a starting point for research, not a verdict.