📊 PLUG Key Takeaways
Is Plug Power Inc. (PLUG) a Good Investment?
Plug Power operates with fundamentally broken unit economics: negative gross margins (-34.1%) indicate the company loses money on each sale before any operating costs. With -$647M annual free cash flow burn and only $368.5M in cash reserves, the company faces imminent liquidity crisis within 6-12 months at current burn rates, requiring aggressive capital raises and dilution despite operating in a promising hydrogen fuel cell sector.
Why Buy Plug Power Inc. Stock? PLUG Key Strengths
- Revenue growing 12.9% YoY demonstrates real market demand for hydrogen and fuel cell technology
- Minimal debt load ($2.1M long-term debt) provides maximum financial flexibility and refinancing options
- Adequate liquidity metrics (2.31x current ratio) and $368.5M cash provide near-term operational flexibility
PLUG Stock Risks: Plug Power Inc. Investment Risks
- Negative gross margin (-34.1%) reveals pricing below production cost or severe manufacturing inefficiencies that undermine business model sustainability
- Catastrophic cash burn of -$647M annually (FCF) will exhaust cash reserves within 12 months without immediate operational restructuring
- Negative profitability across all metrics (operating margin -206.7%, net margin -229.8%) with unclear path to profitability demands extensive capital injection and shareholder dilution
Key Metrics to Watch
- Gross margin trajectory - must become positive to establish viable unit economics
- Operating cash flow burn rate and cash runway depletion timeline
- Capital raise activity and dilution impact on equity holders
Plug Power Inc. (PLUG) Financial Metrics & Key Ratios
💡 AI Analyst Insight
Strong liquidity with a 2.31x 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
| Date | Form | Document | Action |
|---|---|---|---|
| Apr 10, 2026 | 4 | xslF345X06/tm2611556-6_4seq1.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/tm2611556-5_4seq1.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/tm2611556-4_4seq1.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/tm2611556-3_4seq1.xml | View → |
| Apr 10, 2026 | 4 | xslF345X06/tm2611556-2_4seq1.xml | View → |
❓ Frequently Asked Questions about PLUG
What is the AI rating for PLUG?
Plug Power Inc. (PLUG) has an AI rating of STRONG SELL with 92% confidence, based on fundamental analysis of SEC EDGAR filings.
What are PLUG's key strengths?
Claude: Revenue growing 12.9% YoY demonstrates real market demand for hydrogen and fuel cell technology. Minimal debt load ($2.1M long-term debt) provides maximum financial flexibility and refinancing options.
What are the risks of investing in PLUG?
Claude: Negative gross margin (-34.1%) reveals pricing below production cost or severe manufacturing inefficiencies that undermine business model sustainability. Catastrophic cash burn of -$647M annually (FCF) will exhaust cash reserves within 12 months without immediate operational restructuring.
What is PLUG's revenue and growth?
Plug Power Inc. reported revenue of $709.9M.
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 $-1.42.
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 rating reflects both perspectives for balanced insights.
Is PLUG a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, Plug Power Inc. has a STRONG SELL rating with 92% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is PLUG stock overvalued or undervalued?
Valuation metrics for PLUG: ROE of -166.8% (sector avg: 10%), net margin of -229.8% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
Should I buy PLUG stock in 2026?
Our dual AI analysis gives Plug Power Inc. a combined STRONG SELL rating 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 $-535.8M, with capital expenditures of $111.2M. FCF margin is -91.1%.
How does PLUG compare to other Utilities stocks?
Vs Utilities sector averages: Net margin -229.8% (avg: 12%), ROE -166.8% (avg: 10%), current ratio 2.31 (avg: 0.8).