Company Valuation: Plug Power Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 16,271 7,211 2,725 1,941 2,704 2,997 - -
Change - -55.68% -62.21% -28.77% 39.34% 10.82% - -
Enterprise Value (EV) 1 13,005 6,723 3,203 2,465 2,704 3,562 3,606 3,493
Change - -48.3% -52.36% -23.04% 9.72% 31.69% 1.26% -3.14%
P/E ratio -34.4x -9.9x -1.96x -0.79x -1.39x -7x -10.3x -7.96x
PBR 3.42x 1.77x 0.92x 0.96x - 2.54x 2.89x -
PEG - -0.2x -0x -0x 0x 0.1x 0.3x -0.3x
Capitalization / Revenue 32.4x 10.3x 3.06x 3.09x 3.81x 3.73x 3.15x 2.56x
EV / Revenue 25.9x 9.58x 3.59x 3.92x 3.81x 4.44x 3.79x 2.99x
EV / EBITDA -38.5x -15x -3.95x -2.7x -4.63x -14.8x -37.7x 55.2x
EV / EBIT -29.7x -9.89x -2.38x -1.22x -1.84x -10.9x -18x -23.4x
EV / FCF -23.6x -5.2x -1.78x -2.32x - -11.1x -16.1x -
FCF Yield -4.24% -19.2% -56.3% -43.1% - -8.98% -6.21% -
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.82 -1.25 -2.3 -2.68 -1.42 -0.3074 -0.209 -0.27
Distribution rate - - - - - - - -
Net sales 1 502.3 701.4 891.3 628.8 709.9 802.8 951.5 1,169
EBITDA 1 -337.5 -448.3 -810 -911.5 -584.5 -240.5 -95.6 63.34
EBIT 1 -437.3 -679.6 -1,344 -2,020 -1,467 -328 -200.9 -149.3
Net income 1 -460 -724 -1,369 -2,105 -1,632 -430.4 -294 -567.8
Net Debt 1 -3,266 -487.6 478.1 524 - 564.5 609.4 496.3
Reference price 2 28.230 12.370 4.500 2.130 1.970 2.150 2.150 2.150
Nbr of stocks (in thousands) 576,356 582,904 605,502 911,197 1,372,819 1,393,955 - -
Announcement Date 01/03/22 01/03/23 29/02/24 03/03/25 02/03/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-7x4.44x-14.81x-.--% 3B
-75.25x7.14x-133.17x-.--% 2.01B
-15.15x15.86x-16.21x-.--% 774M
-12.13x2.19x-3.81x-.--% 721M
-3.2x1.73x-5.98x - 351M
93.52x1.46x14.89x-.--% 296M
-5.4x - - - 168M
Average -3.52x 5.47x -26.52x 0% 1.05B
Weighted average by Cap. -22.83x 5.95x -45.48x 0%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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