![]() ![]() ![]() For instance, in the last 10 years, the number of outstanding shares for Plug Power has increased to 589 million from 38 million. Due to its significant losses, Plug Power has funded its cash burn by raising equity capital which in turn has diluted shareholder wealth. ![]() states as well as in Finland.īut these expansion plans have come at a massive cost to shareholders. To support the rising demand for HFCs, it has invested in hydrogen plants in several other U.S. Earlier this year, it showcased a fuel cell manufacturing facility in New York that spans 350,000 square feet. The company has plowed in billions of dollars to build its hydrogen-powered ecosystem. Despite its top-line growth, Plug Power remains unprofitable and reported net losses of $724 million in 2022. Its sales have risen from $230 million in 2019 to $701 million in 2022. The company is now building a robust hydrogen ecosystem that spans the production, storage, and transportation of liquid green hydrogen, driving the adoption of hydrogen at an accelerated pace, which should enable customers to decarbonize the world and meet their sustainability goals faster.ĭriven by sales of fuel cell systems, Plug Power has increased revenue at an annual rate of 40% in the last 10 years. This includes lower operational costs, environmental benefits, and efficiency gains. Plug Power delivers a meaningful value proposition to its base of enterprise customers. Let’s see if it makes sense to own shares of Plug Power at the current valuation.Ī Look at Plug Power’s Financials in Recent Years Despite its outsized gains, PLUG stock trades 83% below its recent highs, which suggests it has burnt massive investor wealth since early 2021. Due to its long-term tailwinds, Plug Power stock has surged over 500% in the last five years. ![]()
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