Plug Power Inc. PLUG NASDAQ

NASDAQ Capital Marke • Industrials • Electrical Equipment & Parts • US • USD

SharesGrow Score

35/100

1/7 Pass

SharesGrow Intrinsic Value

Income Statement Balance Sheet Cash Flow Statement

Annual Quarterly

Plug Power Inc. (PLUG) generated $-148.64M in operating cash flow for quarter ending 2025-12-31. After capital expenditures of $9.06M, free cash flow was $-157.71M.

Free cash flow margin was -70% of revenue. Cash conversion ratio was -0.19x, suggesting some earnings are non-cash.

Criteria supported by this page:

HEALTH (50/100, Partial) — cash generation is adequate but may not fully cover debt in stressed conditions
MOAT (20/100, Fail) — limited free cash flow weakens the competitive position
INCOME (10/100) — Cash conversion ratio was -0.19x suggests some earnings are non-cash items

Overall SharesGrow Score: 35/100 with 1/7 criteria passed.

SharesGrow 7-Criteria Score

35/100

SG Score

View full scorecard →

✓

VALUE

90/100

Price-to-Earnings & upside

→ Valuation

FUTURE

46/100

Analyst consensus

→ Forecast

✗

PAST

0/100

→ Income

HEALTH

50/100

Debt-to-Equity & liquidity

Proven by this page

✗

MOAT

20/100

Proven by this page

✗

GROWTH

30/100

→ Income

✗

INCOME

10/100

→ Income

Plug Power Inc. Cash Flow History

Metric	TTM	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025
Operating Cash Flow	$-535.84M	$-148.64M	$-89.81M	$-191.81M	$-105.57M
Capital Expenditure	$-118.23M	$-9.06M	$-30.1M	$-38.62M	$-40.45M
Free Cash Flow	$-654.07M	$-157.71M	$-119.91M	$-230.43M	$-146.02M