PLUG Stock - Plug Power Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $628.81M | $891.34M | $701.44M | $502.34M | $-93,237,000 |
| Gross Profit | $-624,887,000 | $-507,791,000 | $-194,356,000 | $-171,310,000 | $-469,416,000 |
| Gross Margin | -99.4% | -57.0% | -27.7% | -34.1% | 503.5% |
| Operating Income | $-2,019,844,000 | $-1,343,523,000 | $-679,550,000 | $-437,324,000 | $-584,202,000 |
| Net Income | $-2,104,701,000 | $-1,368,833,000 | $-724,008,000 | $-459,965,000 | $-596,155,000 |
| Net Margin | -334.7% | -153.6% | -103.2% | -91.6% | 639.4% |
| EPS | $-2.45 | $-2.30 | $-1.25 | $-0.82 | $-1.58 |
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.
Visit WebsiteRating Distribution
Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| January 9th 2026 | TD Cowen | Downgrade | Hold | $2 |
| January 27th 2025 | Seaport Research Partners | Downgrade | Sell | $1 |
| November 14th 2024 | BTIG Research | Downgrade | Neutral | - |
| April 5th 2024 | Citigroup | Downgrade | Sell | $2 |
| February 6th 2024 | UBS | Downgrade | Neutral | $4.75 |
| February 6th 2024 | Redburn Atlantic | Initiation | Neutral | $4.5 |
| February 6th 2024 | Seaport Research Partners | Downgrade | Neutral | - |
| January 31st 2024 | ROTH MKM | Upgrade | Buy | $9← $4.5 |
| January 24th 2024 | BMO Capital Markets | Downgrade | Underperform | $2.5← $3.5 |
| January 11th 2024 | Susquehanna | Downgrade | Neutral | $4.5 |
| December 19th 2023 | Piper Sandler | Downgrade | Underweight | $2.3← $6.5 |
| December 6th 2023 | Morgan Stanley | Downgrade | Underweight | $3← $3.5 |
| November 16th 2023 | Citigroup | Downgrade | Neutral | $5← $12.5 |
| November 14th 2023 | Johnson Rice | Downgrade | Hold | $6 |
| November 13th 2023 | Wolfe Research | Downgrade | Peer Perform | - |
Earnings History & Surprises
PLUGEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 11, 2026 | — | — | — | — |
Q1 2026 | Mar 2, 2026 | $-0.11 | — | — | — |
Q4 2025 | Nov 10, 2025 | $-0.13 | $-0.12 | +7.7% | ✓ BEAT |
Q3 2025 | Aug 11, 2025 | $-0.15 | $-0.16 | -6.7% | ✗ MISS |
Q2 2025 | May 12, 2025 | $-0.20 | $-0.21 | -5.0% | ✗ MISS |
Q1 2025 | Mar 3, 2025 | $-0.23 | $-1.65 | -617.4% | ✗ MISS |
Q4 2024 | Nov 12, 2024 | $-0.24 | $-0.25 | -4.2% | ✗ MISS |
Q3 2024 | Aug 8, 2024 | $-0.30 | $-0.36 | -20.0% | ✗ MISS |
Q2 2024 | May 9, 2024 | $-0.32 | $-0.43 | -34.4% | ✗ MISS |
Q1 2024 | Mar 1, 2024 | $-0.56 | $-1.07 | -91.1% | ✗ MISS |
Q4 2023 | Nov 9, 2023 | $-0.32 | $-0.47 | -46.9% | ✗ MISS |
Q3 2023 | Aug 9, 2023 | $-0.28 | $-0.35 | -25.0% | ✗ MISS |
Q2 2023 | May 9, 2023 | $-0.27 | $-0.35 | -29.6% | ✗ MISS |
Q1 2023 | Mar 1, 2023 | $-0.26 | $-0.38 | -46.2% | ✗ MISS |
Q4 2022 | Nov 8, 2022 | $-0.25 | $-0.30 | -20.0% | ✗ MISS |
Q3 2022 | Aug 9, 2022 | $-0.21 | $-0.30 | -42.9% | ✗ MISS |
Q2 2022 | May 9, 2022 | $-0.16 | $-0.27 | -68.8% | ✗ MISS |
Q1 2022 | Mar 1, 2022 | $-0.12 | $-0.32 | -166.7% | ✗ MISS |
Q4 2021 | Nov 9, 2021 | $-0.09 | $-0.19 | -111.1% | ✗ MISS |
Q3 2021 | Aug 5, 2021 | $-0.07 | $-0.18 | -157.1% | ✗ MISS |
Latest News
Plug Power shares are trading lower after TD Cowen downgraded the stock from Buy to Hold and cut its PT from $4 to $2.
📉 NegativeTD Cowen Downgrades Plug Power to Hold, Lowers Price Target to $2
📉 NegativePlug Power Strikes 15-Year Agreement To Grant Walmart Limited-Use License To Access, Use Certain Escrowed GenKey System-Related Materials
📈 PositiveClear Street Upgrades Plug Power to Buy, Lowers Price Target to $3
➖ NeutralPlug Power Installs 5MW GenEco Electrolyzer System For Cleanergy Solutions Namibia's Groundbreaking Green Hydrogen Project
📈 PositivePlug Power Signs LOI With Hy2gen For 5MW PEM Electrolyzer To Be Installed At Sunrhyse, Hy2gen's Flagship Hydrogen Production Project In Signes, France
📈 PositivePlug Begins NASA Contract to Supply Up To 480K lbs Of Liquid Hydrogen To Glenn Research Center, Valued Up to $2.8M
📈 PositivePlug Power To Hold Special Meeting Of Stockholders On January 15, 2026, To Ask Stockholders To Approve Amendment To Its Charter To Increase Authorized Common Stock From 1.5B To 3B Shares
➖ NeutralPlug Power Closes $431.25M Offering Of 6.75% Convertible Notes, Nets ~$399.4M To Retire All Remaining High-Cost 15% Debt, Refinance 2026 Notes, And Strengthen Capital Structure
📈 PositiveCanaccord Genuity Maintains Hold on Plug Power, Maintains $2.5 Price Target
➖ NeutralMarket-Moving News for November 19th
➖ NeutralPlug Power shares are trading lower after the company announced a $375 million private offering of convertible senior notes.
📉 NegativeReported Earlier, Plug Power Prices $375M Offering Of 6.75% Convertible Senior Notes Due 2033 In Private Rule 144A Transaction
➖ NeutralPlug Power slumps 21%, prices $375M convertible senior notes
📉 NegativePlug Power announces offering of $375M of convertible senior notes
➖ NeutralPlug Power shares are trading lower after the company announced a $375 million private offering of convertible senior notes.
📉 NegativePlug Power Plans $375M Convertible Notes Offering Due 2033 To Refinance Debt And For Working Capital And Other General Corporate Purposes
➖ NeutralPlug Power to supply electrolyzers to three U.K. green hydrogen projects; stock drops anyway
➖ NeutralSusquehanna Maintains Neutral on Plug Power, Lowers Price Target to $2.5
📉 NegativePlug Power Selected Carlton Power In UK To Offer Equipment Supply, Long-term Service Agreement For 3 Green Hydrogen Projects
📈 PositiveFrequently Asked Questions about PLUG
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