PLUGPLUG POWER INC
Electrical Industrial Apparatus
- Revenue
- $710M
- 13% YoY
- Operating margin
- -206.7%
- 36% YoY
- EBITDA
- −$1.4B
- 27% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$158M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear7% of revenueOver 10% of revenue
- Payouts exceed cash flowClear-0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $502M | $701M | $891M | $629M | $710M | 13% |
| Operating income | −$437M | −$680M | −$1.3B | −$2.0B | −$1.5B | 27% |
| Net income | −$460M | −$724M | −$1.4B | −$2.1B | −$1.6B | 22% |
| Operating cash flow | −$358M | −$829M | −$1.1B | −$729M | −$536M | 26% |
| Capex | $172M | $437M | $665M | $287M | $111M | 61% |
| Stock-based comp | $76M | $180M | $163M | $82M | $51M | 39% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $510K · 4
- Net
- −$510K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $4M | $6M | 6 | 64 |
| FY2024 | $2M | −$407K | 6 | 48 |
| FY2023 | $7M | −$4M | 13 | 60 |
| FY2022 | $767K | −$76M | 36 | 65 |
| FY2021 | $52M | $4M | 83 | 97 |