📊 PLUG Key Takeaways
Is Plug Power Inc. (PLUG) a Good Investment?
Plug Power exhibits fundamental business model dysfunction despite 12.9% revenue growth. The company loses money on every dollar of revenue (negative gross margin of -13.2%), indicating unit economics problems that cannot be overcome by scaling. With operating cash flow of -$150M and free cash flow burning at -$152.4M annually, the company has approximately 18 months of cash runway at current burn rates, creating significant financial distress risk.
Plug Power Inc. Key Strengths (PLUG)
- Revenue growing at 12.9% YoY demonstrates market demand and business scaling
- Strong balance sheet with minimal debt ($2.1M long-term debt) and debt-to-equity of 0.00x
- Adequate current liquidity with $223.2M cash and 2.36x current ratio providing near-term runway
PLUG Stock Risks: Plug Power Inc. Investment Risks
- Negative gross margin (-13.2%) indicates fundamental product pricing or cost structure issues that destroy value at unit level before overhead
- Severe cash burn of -$152.4M annual free cash flow with limited path to profitability; cash runway exhaustion in ~18 months at current rates
- Operating cash flow deeply negative (-$150M) while losses are increasing (net loss -$245.3M with net margin of -150%), signaling deteriorating business fundamentals despite revenue growth
Key Metrics to Watch
- Gross margin trend - must turn positive to demonstrate viable unit economics
- Operating cash flow burn rate and cash runway depletion timeline
- Cash and equivalents balance relative to quarterly burn rates for solvency risk assessment
Plug Power Inc. (PLUG) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 2.36x current ratio provides a solid financial cushion.
PLUG Profit Margin, ROE & Profitability Analysis
PLUG vs Utilities Sector: How Plug Power Inc. Compares
How Plug Power Inc. compares to Utilities sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is Plug Power Inc. Stock Overvalued? PLUG Valuation Analysis 2026
Based on fundamental analysis, Plug Power Inc. has mixed fundamental signals relative to the Utilities sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
Plug Power Inc. Balance Sheet: PLUG Debt, Cash & Liquidity
PLUG Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: Plug Power Inc.'s revenue has grown significantly by 77% over the 5-year period, indicating strong business expansion. The most recent EPS of $-2.30 indicates the company is currently unprofitable.
PLUG Revenue Growth, EPS Growth & YoY Performance
PLUG Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2025 | $263.6M | -$227.1M | $-0.20 |
| Q2 2018 | $39.9M | -$25.9M | N/A |
| Q1 2018 | $29.1M | -$19.8M | N/A |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
Plug Power Inc. Dividends, Buybacks & Capital Allocation
PLUG SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for Plug Power Inc. (CIK: 0001093691)
📋 Recent SEC Filings
❓ Frequently Asked Questions about PLUG
What is the AI rating for PLUG?
Plug Power Inc. (PLUG) has an AI grade of D with 85% confidence, based on fundamental analysis of SEC EDGAR filings.
What are PLUG's key strengths?
Claude: Revenue growing at 12.9% YoY demonstrates market demand and business scaling. Strong balance sheet with minimal debt ($2.1M long-term debt) and debt-to-equity of 0.00x.
What are the risks of investing in PLUG?
Claude: Negative gross margin (-13.2%) indicates fundamental product pricing or cost structure issues that destroy value at unit level before overhead. Severe cash burn of -$152.4M annual free cash flow with limited path to profitability; cash runway exhaustion in ~18 months at current rates.
What is PLUG's revenue and growth?
Plug Power Inc. reported revenue of $163.5M.
Does PLUG pay dividends?
Plug Power Inc. does not currently pay dividends.
Where can I find PLUG SEC filings?
Official SEC filings for Plug Power Inc. (CIK: 0001093691) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is PLUG's EPS?
Plug Power Inc. has a diluted EPS of $-0.18.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is PLUG's fundamental grade?
Based on our AI fundamental analysis in May 2026, Plug Power Inc. has a D grade with 85% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is PLUG stock overvalued or undervalued?
Valuation metrics for PLUG: ROE of -32.7% (sector avg: 10%), net margin of -150.0% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
What is PLUG's AI grade for 2026?
Our dual AI analysis gives Plug Power Inc. a combined D grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is PLUG's free cash flow?
Plug Power Inc.'s operating cash flow is $-150.0M, with capital expenditures of $2.4M. FCF margin is -93.2%.
How does PLUG compare to other Utilities stocks?
Vs Utilities sector averages: Net margin -150.0% (avg: 12%), ROE -32.7% (avg: 10%), current ratio 2.36 (avg: 0.8).