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 2,914 - -
Change - -55.68% -62.21% -28.77% 39.34% 7.73% - -
Enterprise Value (EV) 1 13,005 6,723 3,203 2,465 3,039 3,661 3,750 3,832
Change - -48.3% -52.36% -23.04% 23.31% 20.44% 2.45% 2.17%
P/E -34.4x -9.9x -1.96x -0.79x -1.39x -5.86x -12.2x -14.7x
PBR 3.42x 1.77x 0.92x 0.96x 2.25x 3.84x 4.78x 5.66x
PEG - -0.2x -0x -0x 0x 0.1x 0.2x 0.9x
Capitalization / Revenue 32.4x 10.3x 3.06x 3.09x 3.81x 3.58x 3.03x 2.52x
EV / Revenue 25.9x 9.58x 3.59x 3.92x 4.28x 4.5x 3.9x 3.31x
EV / EBITDA -38.5x -15x -3.95x -2.7x -5.2x -15.2x -40.4x 194x
EV / EBIT -29.7x -9.89x -2.38x -1.22x -2.07x -11.1x -21.1x -54.8x
EV / FCF -23.6x -5.2x -1.78x -2.32x -4.7x -10x -36.7x 76.5x
FCF Yield -4.24% -19.2% -56.3% -43.1% -21.3% -9.99% -2.73% 1.31%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -0.82 -1.25 -2.3 -2.68 -1.42 -0.3565 -0.1708 -0.1418
Distribution rate - - - - - - - -
Net sales 1 502.3 701.4 891.3 628.8 709.9 813.7 962.5 1,157
EBITDA 1 -337.5 -448.3 -810 -911.5 -584.5 -241.3 -92.91 19.72
EBIT 1 -437.3 -679.6 -1,344 -2,020 -1,467 -331.2 -177.9 -69.96
Net income 1 -460 -724 -1,369 -2,105 -1,632 -505.6 -236.2 -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 2.090 2.090 2.090
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-5.86x4.5x-15.17x-.--% 2.91B
-70.08x6.05x535.52x-.--% 1.92B
-8.09x9.12x-26.19x-.--% 1.7B
-51.2x12.49x969.74x-.--% 1.1B
-18.17x2.72x-7.16x-.--% 876M
22.36x1.69x9.15x-.--% 396M
-0.07x55.46x-8.34x - 161M
Average -18.73x 13.15x 208.22x 0% 1.29B
Weighted average by Cap. -25.21x 7.27x 220.42x 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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