Plug Power Inc.

Plug Power Inc.

PLUGยทNASDAQ

$3.69

-0.81%
IndustrialsElectrical Equipment & Parts

Plug Power Inc. delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications. The company provides proton exchange membrane (PEM), fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure. The company offers GenDrive, a hydrogen-fueled PEM fuel cell system that provides power to material handling electric vehicles; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors. It also provides GenKey, an integrated turn-key solution for transitioning to fuel cell power; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; and GenFuel Electrolyzers that are hydrogen generators optimized for clean hydrogen production. The company sells its products through a direct product sales force, original equipment manufacturers, and dealer networks. It has strategic agreements with Airbus; Lhyfe; Edison Motors; Phillips 66; Apex Clean Energy; BAE Systems; and Universal Hydrogen Co. The company was founded in 1997 and is headquartered in Latham, New York.

At a Glance

Live Snapshot
Market Cap$4.23B
EPS-1.4100
P/E Ratio-2.62
Earnings Date08/10/2026
Plug Power Inc.

Plug Power Inc. Fair Value Envelope

PLUG ยท NASDAQ

Our analysis suggests that PLUG has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $3.69, this represents a potential HIDDEN relative to our calculated worth for Plug Power Inc..

Intrinsic Value
Current Price: $3.69

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

$
%
$
%
$
$

Projection Settings

Forecast period and terminal assumptions

%
%

DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value-$27.0B
+ Cash & Equivalents$555.3M
Firm Value-$26.5B
- Debt$997.2M
Equity Value-$27.5B
/ Shares Outstanding1,153,573,770B
DCF Value-$24
OVERVALUED BY 745%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
-$738.2M
-$1.0B
-$1.4B
-$1.9B
-$2.7B
-$3.7B
-$5.0B
-$7.0B
-$9.6B
-$13.2B
Maintenance CapEx
-$34.6M
-$47.7M
-$65.7M
-$90.5M
-$124.7M
-$171.8M
-$236.7M
-$326.1M
-$449.2M
-$618.9M
Owner Earnings
-$772.8M
-$1.1B
-$1.5B
-$2.0B
-$2.8B
-$3.8B
-$5.3B
-$7.3B
-$10.0B
-$13.8B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
-$715.6M
-$912.8M
-$1.2B
-$1.5B
-$1.9B
-$2.4B
-$3.1B
-$3.9B
-$5.0B
-$6.4B
Terminal Value represents 0.0% of Enterprise Value
Negative Owner Earnings
This company generates negative free cash flow. Consider adjusting maintenance CapEx percentage or check the financial data.