Plug Power (PLUG)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from PLUG's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Plug Power's 10-K filings. Ten years of the full income statement, balance sheet and cash flow.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $502M | $701M | $891M | $629M | $710M |
| Net income | -$460M | -$724M | -$1.4B | -$2.1B | -$1.6B |
| Free cash flow | -$530M | -$1.3B | -$1.8B | -$1.0B | -$647M |
| EPS (diluted) | -$0.82 | -$1.25 | -$2.30 | -$2.68 | -$1.42 |
| Operating margin | -87.1% | -96.9% | -150.7% | -321.2% | -206.7% |
Where the revenue comes from
Revenue by products, fiscal 2025. Every breakdown, year by year.
Superinvestors who own PLUG
From each investor's latest 13F filing (what a 13F shows). 3 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Philippe Laffont Coatue Management |
Held | $7M | 0.01% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $5M | 0.01% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $111,210 | 0.0% | Q2 2026 |
Insider buying
Open-market purchases by Plug Power's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you. Every purchase since records began.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Dec 15, 2025 | Jose Luis Crespo |
37,300 | $2.34 | $87,282 |
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In the full deep dive
Questions
Are Plug Power insiders buying the stock?
1 open-market insider purchase of PLUG in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Plug Power?
3 of the superinvestors Investingly tracks hold PLUG in their latest 13F, including Philippe Laffont, Joel Greenblatt, Cliff Asness.
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Prices and ratios as of Oct 11, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.