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PLUG POWER INC (1PLUG.MI) Stock Fundamental Analysis

BIT:1PLUG - Borsa Italiana Milan - US72919P2020 - Common Stock - Currency: EUR

1.9268  +0.12 (+6.5%)

Fundamental Rating

2

Taking everything into account, 1PLUG scores 2 out of 10 in our fundamental rating. 1PLUG was compared to 59 industry peers in the Electrical Equipment industry. Both the profitability and financial health of 1PLUG have multiple concerns. 1PLUG is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

1PLUG had negative earnings in the past year.
1PLUG had a negative operating cash flow in the past year.
In the past 5 years 1PLUG always reported negative net income.
In the past 5 years 1PLUG always reported negative operating cash flow.
1PLUG.MI Yearly Net Income VS EBIT VS OCF VS FCF1PLUG.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 -500M -1B -1.5B

1.2 Ratios

With a Return On Assets value of -29.88%, 1PLUG is not doing good in the industry: 92.59% of the companies in the same industry are doing better.
1PLUG's Return On Equity of -46.60% is on the low side compared to the rest of the industry. 1PLUG is outperformed by 85.19% of its industry peers.
Industry RankSector Rank
ROA -29.88%
ROE -46.6%
ROIC N/A
ROA(3y)-16.07%
ROA(5y)-17.53%
ROE(3y)-25.02%
ROE(5y)-36.19%
ROIC(3y)N/A
ROIC(5y)N/A
1PLUG.MI Yearly ROA, ROE, ROIC1PLUG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 -50 -100 -150 -200

1.3 Margins

1PLUG does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
1PLUG.MI Yearly Profit, Operating, Gross Margins1PLUG.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -50 -100 -150

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3

2. Health

2.1 Basic Checks

1PLUG does not have a ROIC to compare to the WACC, probably because it is not profitable.
1PLUG has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, 1PLUG has more shares outstanding
1PLUG has a worse debt/assets ratio than last year.
1PLUG.MI Yearly Shares Outstanding1PLUG.MI Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M
1PLUG.MI Yearly Total Debt VS Total Assets1PLUG.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B 5B

2.2 Solvency

Based on the Altman-Z score of -1.31, we must say that 1PLUG is in the distress zone and has some risk of bankruptcy.
1PLUG has a worse Altman-Z score (-1.31) than 83.33% of its industry peers.
1PLUG has a Debt/Equity ratio of 0.15. This is a healthy value indicating a solid balance between debt and equity.
1PLUG has a Debt to Equity ratio of 0.15. This is in the better half of the industry: 1PLUG outperforms 79.63% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF N/A
Altman-Z -1.31
ROIC/WACCN/A
WACC10.15%
1PLUG.MI Yearly LT Debt VS Equity VS FCF1PLUG.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B 4B

2.3 Liquidity

A Current Ratio of 2.08 indicates that 1PLUG has no problem at all paying its short term obligations.
1PLUG's Current ratio of 2.08 is fine compared to the rest of the industry. 1PLUG outperforms 68.52% of its industry peers.
1PLUG has a Quick Ratio of 2.08. This is a bad value and indicates that 1PLUG is not financially healthy enough and could expect problems in meeting its short term obligations.
1PLUG has a Quick ratio of 0.95. This is comparable to the rest of the industry: 1PLUG outperforms 55.56% of its industry peers.
Industry RankSector Rank
Current Ratio 2.08
Quick Ratio 0.95
1PLUG.MI Yearly Current Assets VS Current Liabilites1PLUG.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B 4B

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5

3. Growth

3.1 Past

1PLUG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -36.08%.
1PLUG shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -25.89%.
The Revenue has been growing by 38.61% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-36.08%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.44%
Revenue 1Y (TTM)-25.89%
Revenue growth 3Y42.74%
Revenue growth 5Y38.61%
Sales Q2Q%-12.57%

3.2 Future

Based on estimates for the next years, 1PLUG will show a quite strong growth in Earnings Per Share. The EPS will grow by 13.61% on average per year.
1PLUG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.79% yearly.
EPS Next Y44.89%
EPS Next 2Y31.07%
EPS Next 3Y21.9%
EPS Next 5Y13.61%
Revenue Next Year-21.76%
Revenue Next 2Y-0.22%
Revenue Next 3Y9.57%
Revenue Next 5Y14.79%

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
1PLUG.MI Yearly Revenue VS Estimates1PLUG.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 1B 2B 3B 4B
1PLUG.MI Yearly EPS VS Estimates1PLUG.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 -1 -2

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1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for 1PLUG. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for 1PLUG. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
1PLUG.MI Price Earnings VS Forward Price Earnings1PLUG.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60 80

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
1PLUG.MI Per share data1PLUG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 -1 2 -2 3

4.3 Compensation for Growth

1PLUG's earnings are expected to grow with 21.90% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y31.07%
EPS Next 3Y21.9%

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0

5. Dividend

5.1 Amount

No dividends for 1PLUG!.
Industry RankSector Rank
Dividend Yield N/A

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PLUG POWER INC

BIT:1PLUG (2/4/2025, 7:00:00 PM)

1.9268

+0.12 (+6.5%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)11-12 2024-11-12/bmo
Earnings (Next)02-27 2025-02-27/amc
Inst Owners46.33%
Inst Owner ChangeN/A
Ins Owners0.49%
Ins Owner ChangeN/A
Market Cap1.76B
Analysts64.57
Price Target2.96 (53.62%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-10.93%
Min EPS beat(2)-20.63%
Max EPS beat(2)-1.24%
EPS beat(4)0
Avg EPS beat(4)-50.05%
Min EPS beat(4)-141.83%
Max EPS beat(4)-1.24%
EPS beat(8)0
Avg EPS beat(8)-46.7%
EPS beat(12)0
Avg EPS beat(12)-50.56%
EPS beat(16)0
Avg EPS beat(16)-116.09%
Revenue beat(2)0
Avg Revenue beat(2)-21.5%
Min Revenue beat(2)-24.01%
Max Revenue beat(2)-18.98%
Revenue beat(4)0
Avg Revenue beat(4)-19.01%
Min Revenue beat(4)-25.18%
Max Revenue beat(4)-7.88%
Revenue beat(8)2
Avg Revenue beat(8)-13.35%
Revenue beat(12)3
Avg Revenue beat(12)-12.2%
Revenue beat(16)5
Avg Revenue beat(16)-9.22%
PT rev (1m)1.05%
PT rev (3m)-18.49%
EPS NQ rev (1m)0.22%
EPS NQ rev (3m)-20.86%
EPS NY rev (1m)-0.26%
EPS NY rev (3m)-5.24%
Revenue NQ rev (1m)-1.21%
Revenue NQ rev (3m)-23.84%
Revenue NY rev (1m)-0.29%
Revenue NY rev (3m)-14.67%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2.75
P/FCF N/A
P/OCF N/A
P/B 0.6
P/tB 0.64
EV/EBITDA N/A
EPS(TTM)-2.08
EYN/A
EPS(NY)-0.62
Fwd EYN/A
FCF(TTM)-1.4
FCFYN/A
OCF(TTM)-0.89
OCFYN/A
SpS0.7
BVpS3.22
TBVpS3.03
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -29.88%
ROE -46.6%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-16.07%
ROA(5y)-17.53%
ROE(3y)-25.02%
ROE(5y)-36.19%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score1
Asset Turnover0.14
Health
Industry RankSector Rank
Debt/Equity 0.15
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 565.83%
Cap/Sales 72.88%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.08
Quick Ratio 0.95
Altman-Z -1.31
F-Score1
WACC10.15%
ROIC/WACCN/A
Cap/Depr(3y)901.79%
Cap/Depr(5y)628.73%
Cap/Sales(3y)60.9%
Cap/Sales(5y)41.09%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-36.08%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%44.44%
EPS Next Y44.89%
EPS Next 2Y31.07%
EPS Next 3Y21.9%
EPS Next 5Y13.61%
Revenue 1Y (TTM)-25.89%
Revenue growth 3Y42.74%
Revenue growth 5Y38.61%
Sales Q2Q%-12.57%
Revenue Next Year-21.76%
Revenue Next 2Y-0.22%
Revenue Next 3Y9.57%
Revenue Next 5Y14.79%
EBIT growth 1Y-14.71%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year21.51%
EBIT Next 3Y23.54%
EBIT Next 5Y19.25%
FCF growth 1Y-38.14%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-57.99%
OCF growth 3YN/A
OCF growth 5YN/A