Plug Power is a company engaged in the design and manufacturing of hydrogen fuel cell systems that replace conventional batteries in equipment and vehicles powered by electricity. The Company's GenDrive system integrates fuel cells manufactured by both Plug Power and Ballard Power and incorporates a hydrogen storage system that allows the system to "recharge" in a matter of minutes as opposed to several hours for lead-acid batteries. It allows hydrogen-powered forklifts to run at a constant steady power compared to conventional batteries, which experience "droop" in their output towards the end of a shift. GenDrive units occupy the same space designed for conventional batteries.

Type
Public
HQ
Latham, US
Founded
1997
Size (employees)
486 (est)
Plug Power was founded in 1997 and is headquartered in Latham, US
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Plug Power Office Locations

Plug Power has offices in Latham and Spokane Valley
Latham, US (HQ)
968 Albany Shaker Rd
Spokane Valley, US
15913 E Euclid Ave
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Plug Power Financials and Metrics

Plug Power Financials

Plug Power's revenue was reported to be $103.26 m in FY, 2017
USD

Revenue (Q1, 2018)

27.2 m

Gross profit (Q1, 2018)

(4 m)

Gross profit margin (Q1, 2018), %

(14.6%)

Net income (Q1, 2018)

(19.8 m)

EBIT (Q1, 2018)

(20.9 m)

Market capitalization (21-May-2018)

475.7 m

Closing share price (21-May-2018)

2.2

Cash (31-Mar-2018)

46.7 m

EV

456.6 m
Plug Power's current market capitalization is $475.7 m.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

26.6 m64.2 m103.3 m85.9 m103.3 m

Revenue growth, %

141%61%(17%)

Cost of goods sold

113.2 m82 m131.4 m

Gross profit

(9.9 m)3.9 m(28.1 m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Revenue

4.6 m5.6 m17.3 m19.9 m9.4 m24 m31.4 m15.3 m20.5 m17.6 m15.2 m20.8 m27.2 m

Cost of goods sold

15.2 m20.1 m17.2 m19.7 m24.3 m31.2 m

Gross profit

170 k384 k381 k(4.5 m)(3.5 m)(4 m)

Gross profit Margin, %

1%2%2%(29%)(17%)(15%)
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

5 m146.2 m64 m46 m24.8 m

Accounts Receivable

6.4 m16.1 m22.7 m11.9 m15.3 m

Inventories

1.9 m5.7 m7.9 m29.9 m48.8 m

Current Assets

23.7 m192.7 m131.2 m110.9 m119.6 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Cash

11 m63.2 m168.6 m156.5 m131.5 m109.1 m85 m11.8 m2.1 m46.7 m

Accounts Receivable

4.3 m6.3 m16.5 m15 m7.8 m12.5 m18.5 m10.7 m12.7 m12 m6.9 m15.3 m23 m

Inventories

9.8 m11.9 m19.8 m21.9 m32.1 m32.9 m31.5 m39.2 m34.9 m35.8 m33.7 m42.7 m47.3 m

Current Assets

27.1 m84.3 m209.9 m199.5 m177.8 m160.5 m143.6 m130.5 m127.5 m106.9 m77.6 m88 m145.5 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

(62.8 m)(88.6 m)(55.8 m)(57.6 m)

Depreciation and Amortization

2.3 m2.4 m

Inventories

137.6 k(9.2 m)(7.3 m)2.8 m(18.8 m)

Accounts Payable

Quarterly
USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q1, 2018

Net Income

(9.4 m)(11.1 m)(10.2 m)(11.8 m)(13.2 m)(13.4 m)(24.1 m)

Depreciation and Amortization

608.4 k608.4 k(608.4 k)

Inventories

(1.5 m)19.8 m21.9 m(7.4 m)(8.2 m)(6.3 m)(6.4 m)(2.2 m)(3 m)(3.8 m)(12.8 m)1.4 m

Accounts Payable

9.3 m7.9 m
USDY, 2018

EV/EBIT

-21.8 x

EV/CFO

-19 x

Financial Leverage

6 x
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