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Plug Power is building an end-to-end green hydrogen ecosystem—from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
1999
3.2K+
LTM Revenue $663M
LTM EBITDA -$759M
$1.9B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Plug Power has a last 12-month revenue of $663M and a last 12-month EBITDA of -$759M.
In the most recent fiscal year, Plug Power achieved revenue of $629M and an EBITDA of -$2.0B.
Plug Power expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Plug Power valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $891M | $629M | XXX | XXX | XXX |
| Gross Profit | -$194M | -$508M | XXX | XXX | XXX |
| Gross Margin | -22% | -81% | XXX | XXX | XXX |
| EBITDA | -$1.3B | -$2.0B | XXX | XXX | XXX |
| EBITDA Margin | -141% | -314% | XXX | XXX | XXX |
| Net Profit | -$724M | -$1.4B | XXX | XXX | XXX |
| Net Margin | -81% | -218% | XXX | XXX | XXX |
| Net Debt | n/a | $64.2M | XXX | XXX | XXX |
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As of April 15, 2025, Plug Power's stock price is $1.
Plug Power has current market cap of $1.0B, and EV of $1.9B.
See Plug Power trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.9B | $1.0B | XXX | XXX | XXX | XXX | $-2.08 |
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Sign UpAs of April 15, 2025, Plug Power has market cap of $1.0B and EV of $1.9B.
Plug Power's trades at 2.9x LTM EV/Revenue multiple, and -2.5x LTM EBITDA.
Analysts estimate Plug Power's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Plug Power and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.9B | XXX | XXX | XXX |
| EV/Revenue | 3.0x | XXX | XXX | XXX |
| EV/EBITDA | -1.0x | XXX | XXX | XXX |
| P/E | -0.5x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -1.8x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpPlug Power's NTM/LTM revenue growth is 21%
Plug Power's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, Plug Power's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Plug Power's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Plug Power and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -29% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -314% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 57% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -294% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.2M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 12% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 72% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| SBM Offshore | XXX | XXX | XXX | XXX | XXX | XXX |
| Friedrich Vorwerk Group | XXX | XXX | XXX | XXX | XXX | XXX |
| GE Vernova T&D India | XXX | XXX | XXX | XXX | XXX | XXX |
| Suzlon Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Inox Wind | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Plug Power acquired XXX companies to date.
Last acquisition by Plug Power was XXXXXXXX, XXXXX XXXXX XXXXXX . Plug Power acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Plug Power founded? | Plug Power was founded in 1999. |
| Where is Plug Power headquartered? | Plug Power is headquartered in United States of America. |
| How many employees does Plug Power have? | As of today, Plug Power has 3.2K+ employees. |
| Who is the CEO of Plug Power? | Plug Power's CEO is Mr. Andrew J. Marsh. |
| Is Plug Power publicy listed? | Yes, Plug Power is a public company listed on NAS. |
| What is the stock symbol of Plug Power? | Plug Power trades under PLUG ticker. |
| When did Plug Power go public? | Plug Power went public in 1999. |
| Who are competitors of Plug Power? | Similar companies to Plug Power include e.g. SBM Offshore, Friedrich Vorwerk Group, GE Vernova T&D India, Suzlon Energy. |
| What is the current market cap of Plug Power? | Plug Power's current market cap is $1.0B |
| What is the current revenue of Plug Power? | Plug Power's last 12-month revenue is $663M. |
| What is the current EBITDA of Plug Power? | Plug Power's last 12-month EBITDA is -$759M. |
| What is the current EV/Revenue multiple of Plug Power? | Current revenue multiple of Plug Power is 2.9x. |
| What is the current EV/EBITDA multiple of Plug Power? | Current EBITDA multiple of Plug Power is -2.5x. |
| What is the current revenue growth of Plug Power? | Plug Power revenue growth between 2023 and 2024 was -29%. |
| Is Plug Power profitable? | Yes, Plug Power is EBITDA-positive (as of the last 12 months). |
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