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Upturn AI SWOT - About
PLUG 
Plug Power Inc (PLUG)
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Upturn Advisory Summary
07/11/2025: PLUG (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
24 Analysts rated it
Well-followed company, solid analyst reports, reliable data for confident investing.
1 Year Target Price $1.85
1 Year Target Price $1.85
| 4 | Strong Buy |
| 2 | Buy |
| 13 | Hold |
| 2 | Sell |
| 3 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -34.76% | Avg. Invested days 27 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 07/11/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.86B USD | Price to earnings Ratio - | 1Y Target Price 1.85 |
Price to earnings Ratio - | 1Y Target Price 1.85 | ||
Volume (30-day avg) 24 | Beta 2.12 | 52 Weeks Range 0.69 - 3.34 | Updated Date 07/13/2025 |
52 Weeks Range 0.69 - 3.34 | Updated Date 07/13/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -2.43 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) -128.71% |
Management Effectiveness
Return on Assets (TTM) -15.13% | Return on Equity (TTM) -82.52% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 2549568637 | Price to Sales(TTM) 2.89 |
Enterprise Value 2549568637 | Price to Sales(TTM) 2.89 | ||
Enterprise Value to Revenue 3.97 | Enterprise Value to EBITDA -2.23 | Shares Outstanding 1147340032 | Shares Floating 935211744 |
Shares Outstanding 1147340032 | Shares Floating 935211744 | ||
Percent Insiders 5.34 | Percent Institutions 43.25 |
Upturn AI SWOT
Plug Power Inc
Company Overview
History and Background
Plug Power Inc. was founded in 1998 as DTE Energy Technologies. Initially focused on fuel cell technology for stationary power, it shifted towards material handling applications. It has evolved into a provider of hydrogen fuel cell turnkey solutions.
Core Business Areas
- GenDrive: Hydrogen fuel cell systems for electric lift trucks used in warehouses and distribution centers.
- GenFuel: Hydrogen fueling infrastructure, including on-site and centralized hydrogen generation, storage, and dispensing systems.
- GenCare: Comprehensive service and maintenance program for Plug Power's fuel cell systems.
- Electrolyzers: Equipment that produces hydrogen gas by splitting water into hydrogen and oxygen using electricity.
- Hydrogen Production: Production of green hydrogen by utilizing renewable energy.
Leadership and Structure
Andrew Marsh is the CEO. The company operates with a functional organizational structure, dividing its operations into sales, engineering, manufacturing, and service departments.
Top Products and Market Share
Key Offerings
- GenDrive: Hydrogen fuel cell systems for forklifts. Plug Power claims a significant portion of the market for hydrogen fuel cell forklifts. Competitors include Ballard Power Systems and Hyzon Motors. Revenue data for this is bundled with other products in the annual report.
- GenFuel: Hydrogen infrastructure solutions. Market share is less defined, as it includes multiple vendors for components like storage and distribution. Competitors include Air Products and Chemicals and Linde. Revenue data for this is bundled with other products in the annual report.
- Electrolyzers: Electrolyzer stacks and systems for green hydrogen production. Plug Power targets a large share of the growing electrolyzer market. Competitors include Siemens Energy, ITM Power, and Nel ASA. Revenue data for this is bundled with other products in the annual report.
Market Dynamics
Industry Overview
The hydrogen fuel cell industry is experiencing rapid growth, driven by increasing demand for clean energy solutions and government incentives. The industry faces challenges related to infrastructure development and cost competitiveness.
Positioning
Plug Power is positioned as a leading provider of hydrogen fuel cell solutions, particularly in the material handling and stationary power markets. Their competitive advantages include their established customer base and comprehensive solutions.
Total Addressable Market (TAM)
The global green hydrogen market is estimated to reach hundreds of billions of dollars by 2030. Plug Power aims to capture a significant portion of this TAM through its diverse product offerings.
Upturn SWOT Analysis
Strengths
- First-mover advantage in hydrogen fuel cell forklifts
- Strong customer relationships
- Integrated solutions (fuel cells, fueling infrastructure, service)
- Expanding into green hydrogen production with electrolyzer technology
- Strategic partnerships
Weaknesses
- History of unprofitability
- High operating expenses
- Dependence on government subsidies and incentives
- Significant capital expenditures required for expansion
- Dilution through equity financing
Opportunities
- Growing demand for clean energy solutions
- Government support for hydrogen technologies
- Expansion into new markets (e.g., heavy-duty transportation, stationary power)
- Decreasing cost of hydrogen production
- Strategic acquisitions
Threats
- Competition from other fuel cell companies and alternative energy technologies
- Fluctuations in hydrogen prices
- Delays in infrastructure development
- Changes in government regulations and incentives
- Supply chain disruptions
Competitors and Market Share
Key Competitors
- FCEL
- BE
- BLDP
Competitive Landscape
Plug Power has a strong position in the material handling market. However, it faces increasing competition from other fuel cell companies and alternative energy providers.
Major Acquisitions
Applied Cryo Technologies
- Year: 2021
- Acquisition Price (USD millions): 110
- Strategic Rationale: To expand Plug Power's capabilities in hydrogen delivery and storage infrastructure.
Growth Trajectory and Initiatives
Historical Growth: Plug Power has experienced significant revenue growth in recent years, driven by increased demand for its fuel cell solutions.
Future Projections: Analysts project continued revenue growth for Plug Power, driven by the expansion of the hydrogen economy. Profitability is expected to improve in the coming years.
Recent Initiatives: Recent initiatives include strategic partnerships, acquisitions, and investments in green hydrogen production facilities.
Summary
Plug Power is a key player in the hydrogen fuel cell industry with a strong focus on material handling. While experiencing rapid growth, the company faces ongoing challenges related to profitability and capital intensity. Successful expansion into green hydrogen production and new markets is crucial for its long-term success. Investors must consider the volatile nature of the stock.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (10-K, 10-Q), Analyst Reports, Industry News, Company Website
Disclaimers:
This analysis is based on available information and is not financial advice. Investment decisions should be made with careful consideration and consultation with a financial professional.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Plug Power Inc
Exchange NASDAQ | Headquaters Latham, NY, United States | ||
IPO Launch date 1999-10-29 | CEO & Director Mr. Andrew J. Marsh | ||
Sector Industrials | Industry Electrical Equipment & Parts | Full time employees 3224 | Website https://www.plugpower.com |
Full time employees 3224 | Website https://www.plugpower.com | ||
Plug Power Inc. develops hydrogen fuel cells product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; and Progen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems. It also offers GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems; GenSure fuel cell systems; GenFuel hydrogen storage and dispensing products; ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power. In addition, the company also provides electrolyzers, a hydrogen generator for clean hydrogen production; liquefaction systems that provides liquid hydrogen to customers; cryogenic equipment for the distribution of liquified hydrogen, oxygen, argon, nitrogen, and other cryogenic gases, including trailers and mobile storage equipment; and liquid hydrogen, an alternative to fuel to fossil-based energy. The company sells its products through a direct product sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was incorporated in 1997 and is headquartered in Latham, New York.
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