Plug Power Inc. (PLUG)
Plug Power is an American company building the infrastructure for a hydrogen-based economy, focusing on fuel cells for forklifts and heavy-duty transport.
Is Plug Power Inc. a good stock for a UK beginner?
The honest version: There's no rating here and nothing for sale. In its favour: First-mover advantage in the hydrogen fuel cell market. Worth weighing: Significant and ongoing financial losses.
Is this normal for this company?
Each figure against the range this same company has produced recently. Neither end of a range is the good end.
Profit as a share of sales, from the company's own quarterly statements. The range covers the 5 quarters we hold, and the figure shown is its most recent one.
How these ranges are built
Every number here is the company's own reported figure, not a comparison with other companies. The ranges come from this company's own results and its share price. Where it reports in a different currency from the one its shares trade in, the price-to-earnings range is left out rather than mixing the two.
What does Plug Power Inc. do?
Plug Power creates hydrogen fuel cell systems that replace traditional batteries in industrial equipment like warehouse forklifts. Selling these fuel cells and the hydrogen fuel needed to run them brings in revenue, but they are currently spending much more than they earn to grow the business. Profitability is the milestone to watch for as they scale up their hydrogen production facilities.
On our factor screen it looks strongest on value and momentum, and weakest on quality.
- !Pays no dividend - the whole return rides on the share price
- ✓Growing - revenue up about 2% over the year
- !Carries a lot of debt - roughly 1.8x its equity
- Value screens high
- Quality screens low
- Growth screens low
- Income screens low
Does Plug Power Inc. pay a dividend?
No - Plug Power Inc. doesn't currently pay a dividend, so the whole return would rest on the share price. Plenty of growing companies reinvest their profits instead of paying them out - neither approach is better or worse, they're just different.
Does Plug Power Inc. have more cash or more debt?
It holds about $161.89M in cash against about $1.04B of debt - so it has net debt of about $875.06M. Debt is not automatically a problem - it funds growth - but it has to be serviced and repaid, which matters more when profits wobble.
From the latest reported balance sheet. Cash and debt levels change, and some borrowing is normal - this is context, not a judgment.
What do Plug Power Inc.'s numbers mean?
How has it performed?
Growth of £1,000, the worst fall, and year by year
Over about 2 years to 2026-09-11. This is the share price only; any dividends would add to it. And it's the USD return - as a UK investor your actual £ return also moves with the exchange rate. Past performance is not a guide to the future, and it could just as easily have fallen.
How much has Plug Power Inc. actually fallen?
Over the last 2 years of daily prices, Plug Power Inc. fell as much as −78% from a high to a later low. Falls like this are normal when you own a share.
Past falls are not a forecast - it can fall further, or recover.
How has it done year by year?
Calendar-year total return - the share price with dividends reinvested - from adjusted closing prices. The current year is only part-complete. Past returns are not a guide to the future.
A closer look at the numbers
Ownership, earnings history, where the money goes, and the outlook range
Does the share price tell you if it's cheap or expensive?
Who owns Plug Power Inc.?
About 74% of Plug Power Inc., or about 74 in every 100 shares, is held by big institutions such as pension and index funds, and company insiders hold about 5%. The rest, roughly 22%, is held by the public and smaller investors.
What this does and doesn't tell you
This is a recent snapshot of the share register, and it moves. We don't read anything into who owns what - a high institutional share is common for any large listed company and is not a signal about it.
Prices move on results, news and the mood of the whole market - no single headline explains a day, and a quiet week is usually just noise, not a signal.
How much money does Plug Power Inc. make?
Revenue and profit by quarter, and how much of each sale turns into profit.
When does Plug Power Inc. report earnings, and how did recent quarters go?
Plug Power Inc. is next scheduled to report on about 2026-11-09 - dates can move, and we don't predict results; this just tells you when to look.
‘Beat’ and ‘missed’ are against what analysts expected, not whether the business is doing well.
| Reported | Expected EPS: The earnings per share analysts expected for the quarter - the average of their forecasts. 'Beating' or 'missing' is measured against this number. | Actual EPS | vs expected |
|---|---|---|---|
| 2026-08-10 | $-0.08 | $-0.07 | Beat +12% |
| 2026-05-11 | $-0.10 | $-0.18 | Missed -74% |
| 2026-03-02 | $-0.11 | $-0.06 | Beat +44% |
| 2025-11-10 | $-0.13 | $-0.12 | Beat +7% |
| 2025-08-11 | $-0.16 | $-0.18 | Missed -11% |
| 2025-05-12 | $-0.20 | $-0.20 | Missed -2% |
Across the last 6 quarters here, Plug Power Inc. came in ahead of what analysts expected 3 times. One quarter is noise, not a trend.
See who else reports over the next two weeks →
Where these figures come from
Each quarter a company reports its results against a consensus of analyst forecasts. The figures here are reported versus expected earnings per share from published results; the expectation is that analyst consensus, not our view. Report dates are estimates and can move.
What are the scenarios for Plug Power Inc.?
An illustrative range for the year ahead — not a prediction or a price target.
What are the pros, cons and common questions?
The case each way, and the questions people ask
Hydrogen becomes a dominant fuel for heavy transport
Technological obsolescence or bankruptcy
What are the pros and cons of Plug Power Inc.?
A balance check, not a score or verdict.
- First-mover advantage in the hydrogen fuel cell market
- Strong revenue growth: How fast the company's sales grew versus a year ago. figures
- Essential role in the transition to green energy
- Significant and ongoing financial losses
- Negative profit margins make valuation difficult
- High reliance on external funding to keep operations running
- Potential need to issue more shares, which dilutes existing owners
- High volatility makes it a bumpy ride for investors
- Competition from cheaper battery technologies
The write-up's own warning lights — if these start happening, the case above changes.
- The company achieving a positive gross margin
- A major shift in government policy away from hydrogen support
Common questions about Plug Power Inc.
Does Plug Power Inc. pay a dividend?
No - Plug Power Inc. does not currently pay a dividend, so the return would rest on the share price. Many growing companies reinvest profits instead of paying them out.
When does Plug Power Inc. report earnings next?
Plug Power Inc. is next scheduled to report results on about 2026-11-09. Report dates are estimates and can move; this is a diary note for when to look, not a forecast of the outcome.
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RELX PLCBuilt from public filings & market prices, checked for an education-only tone, and never a price target. How we make these →
This plain-English summary was auto-generated on 2026-08-02 from public data and checked for an education-only, no-advice tone (the figures above carry their own, usually fresher, 'as of' date). It's information, never a recommendation.