Fact based stock research
Plug Power (NasdaqCM:PLUG)

US72919P2020

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Plug Power stock research in summary

plugpower.com

ANALYSIS: With an Obermatt Combined Rank of 66 (better than 66% compared with investment alternatives), Plug Power (Electr. Components & Equipment, USA) shares have above-average financial characteristics compared with similar stocks. Shares of Plug Power are a good value (attractively priced) with a consolidated Value Rank of 61 (better than 61% of alternatives), show above-average growth (Growth Rank of 77) but are riskily financed (Safety Rank of 40), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 66, is a buy recommendation based on Plug Power's financial characteristics. As the company Plug Power's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 61) and above-average growth (Obermatt Growth Rank of 77), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 40) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	61
Growth Rank	77
Safety Rank	40
Combined Rank	66

Country	USA
Industry	Electr. Components & Equipment
Index	Electromobility, NASDAQ
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Plug Power

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	31	71	75	61
GROWTH
GROWTH	81	47	35	77
SAFETY
SAFETY	67	73	64	40
SENTIMENT
SENTIMENT	42	1	6	^new
360° VIEW
360° VIEW	53	50	39	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Plug Power is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	31	71	75	61
GROWTH
GROWTH	81	47	35	77
SAFETY
SAFETY	67	73	64	40
COMBINED
COMBINED	69	78	61	66

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Plug Power the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 61 (better than 61% compared with alternatives), Plug Power shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Plug Power. Price-to-Sales (P/S) is 62, which means that the stock price compared with what market professionals expect for future sales is lower than for 62% of comparable companies, indicating a good value regarding Plug Power's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 94% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 91. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 1% of all competitors have even lower dividend yields than Plug Power (a Dividend Yield Rank of 1). 99% alternative investments in the same business provide a higher dividend yield. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 61, is a buy recommendation based on Plug Power's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	5	77	72	62
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	2	94	94	94
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	72	94	97	91
DIVIDEND YIELD
DIVIDEND YIELD	1	1	1	1
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	31	71	75	61

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Plug Power; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 77 (better than 77% compared with alternatives) for 2025, Plug Power shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Plug Power. Sales Growth has a value of 86 which means that currently professionals expect the company to grow more than 86% of its competitors. Profit Growth with a value of 76 and Capital Growth with a rank of 74 means that currently, professionals expect the company to grow both profits and invested capital more than of its competitors. But Stock Returns has only a rank of 37, which means that stock returns have recently been below 63% of alternative investments. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 77, is a buy recommendation for growth and momentum investors. Plug Power has only one below-average growth indicator, the stock returns. This is probably the least reliable growth indicator, because it measures company and investor expectations at the same time. The three other growth indicators, which are all positive for Plug Power, are more reliable measures of growth momentum. For this reason, the company seems to be on a good trajectory, unless you think the current period is not representative, because of unique events that will not be repeated in the future. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	98	96	88	86
PROFIT GROWTH
PROFIT GROWTH	49	44	61	76
CAPITAL GROWTH
CAPITAL GROWTH	95	48	4	74
STOCK RETURNS
STOCK RETURNS	5	5	13	37
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	81	47	35	77

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Plug Power.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 40 (better than 40% compared with alternatives), the company Plug Power has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Plug Power is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with just one indicator above average for Plug Power and the other two below average. Refinancing is at 79, meaning the portion of the debt about to be refinanced is below average. It has less debt in the refinancing stage than 79% of its competitors. But Leverage is high with a rank of 40, meaning the company has an above-average debt-to-equity ratio. It has more debt than 60% of its competitors. Liquidity is also on the riskier side with a rank of 9, meaning the company generates less profit to service its debt than 91% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 40 (worse than 60% compared with alternatives), Plug Power has a financing structure that is riskier than that of its competitors. A good Refinancing Rank means that the problems of the company may not be around the corner. But high Leverage is only good if things go well, and low Liquidity is a signal for caution. The financing signals for Plug Power are on the riskier side, requiring the company's future to be on the safer side. Investors may want to look at Growth and Sentiment ranks before making an investment decision. In the long-term, investors may have a debt challenge with Plug Power and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	58	66	62	40
REFINANCING
REFINANCING	83	89	89	79
LIQUIDITY
LIQUIDITY	12	12	7	9
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	67	73	64	40

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Plug Power and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	12	7	^new
OPINIONS CHANGE
OPINIONS CHANGE	40	42	50	^new
PRO HOLDINGS
PRO HOLDINGS	64	21	16	^new
MARKET PULSE
MARKET PULSE	6	2	5	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	42	1	6	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Plug Power.
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