Company Valuation: Plug Power Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 16,271 7,211 2,725 1,941 2,704 2,942 - -
Change - -55.68% -62.21% -28.77% 39.34% 8.77% - -
Enterprise Value (EV) 1 13,005 6,723 3,203 2,465 3,039 3,688 3,778 3,860
Change - -48.3% -52.36% -23.04% 23.31% 21.36% 2.43% 2.16%
P/E -34.4x -9.9x -1.96x -0.79x -1.39x -5.92x -12.4x -13.2x
PBR 3.42x 1.77x 0.92x 0.96x 2.25x 3.88x 4.83x 5.78x
PEG - -0.2x -0x -0x 0x 0.1x 0.2x 2.12x
Capitalization / Revenue 32.4x 10.3x 3.06x 3.09x 3.81x 3.59x 3.06x 2.54x
EV / Revenue 25.9x 9.58x 3.59x 3.92x 4.28x 4.51x 3.93x 3.34x
EV / EBITDA -38.5x -15x -3.95x -2.7x -5.2x -15.3x -42.2x 196x
EV / EBIT -29.7x -9.89x -2.38x -1.22x -2.07x -11.1x -21.3x -55.3x
EV / FCF -23.6x -5.2x -1.78x -2.32x -4.7x -10.1x -37x 77x
FCF Yield -4.24% -19.2% -56.3% -43.1% -21.3% -9.91% -2.71% 1.3%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.82 -1.25 -2.3 -2.68 -1.42 -0.3566 -0.1707 -0.1601
Distribution rate - - - - - - - -
Net sales 1 502.3 701.4 891.3 628.8 709.9 818.3 962.4 1,157
EBITDA 1 -337.5 -448.3 -810 -911.5 -584.5 -241.3 -89.57 19.72
EBIT 1 -437.3 -679.6 -1,344 -2,020 -1,467 -331.3 -177.8 -69.81
Net income 1 -460 -724 -1,369 -2,105 -1,632 -505.7 -237.9 -165.5
Net Debt 1 -3,266 -487.6 478.1 524 335 747 836.6 918.1
Reference price 2 28.230 12.370 4.500 2.130 1.970 2.110 2.110 2.110
Nbr of stocks (in thousands) 576,356 582,904 605,502 911,197 1,372,819 1,394,082 - -
Announcement Date 01/03/22 01/03/23 29/02/24 03/03/25 02/03/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-5.92x4.51x-15.29x-.--% 2.94B
-7.44x8.43x-23.81x-.--% 1.59B
-30.71x5.61x-234.55x-.--% 1.54B
-56.21x13.85x1074.92x-.--% 1.22B
-14.64x2.85x-6.85x-.--% 770M
22.94x1.76x9.45x-.--% 415M
-6.54x53.29x-8.01x - 161M
Average -14.07x 12.90x 113.69x 0% 1.23B
Weighted average by Cap. -17.12x 7.37x 100.03x 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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