Question 1

What is Plug Power's P/FCF ratio?

Accepted Answer

Plug Power (PLUG) P/FCF ratio is currently not available. When trailing twelve-month free cash flow is negative — common during heavy capex cycles or operating losses — P/FCF is reported as N/A and analysts switch to P/S or EV/EBITDA.

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Plug Power?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Plug Power specifically, the relevant sector benchmark is the current sector median of 24.3×.

Question 5

Why does Plug Power's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.

Question 6

Why is Plug Power's P/FCF ratio not available?

Accepted Answer

When trailing twelve-month free cash flow is negative — common during heavy capex cycles or operating losses — P/FCF is reported as N/A and analysts switch to P/S or EV/EBITDA.


2025	$2.28B	−$654.07M	—	—	Dec 31, 2025
2024	$1.95B	−$1.06B	—	—	Dec 31, 2024
2023	$2.73B	−$1.92B	—	—	Dec 31, 2023
2022	$7.21B	−$1.08B	—	—	Dec 31, 2022
2021	$16.28B	−$551.44M	—	—	Dec 31, 2021
2020	$14.42B	−$203.66M	—	—	Dec 31, 2020
2019	$749.40M	−$66.14M	—	—	Dec 31, 2019
2018	$271.23M	−$77.19M	—	—	Dec 31, 2018
2017	$538.36M	−$104.55M	—	—	Dec 31, 2017
2016	$216.74M	−$87.71M	—	—	Dec 31, 2016
2015	$371.50M	−$50.79M	—	—	Dec 31, 2015
2014	$519.43M	−$42.19M	—	—	Dec 31, 2014
2013	$160.39M	−$26.99M	—	—	Dec 31, 2013
2012	$19.08M	−$20.24M	—	—	Dec 31, 2012
2011	$38.31M	−$34.64M	—	—	Dec 31, 2011
2010	$48.69M	−$41.87M	—	—	Dec 31, 2010
2009	$91.67M	−$38.76M	—	—	Dec 31, 2009
2008	$91.17M	−$58.02M	—	—	Dec 31, 2008
2007	$345.00M	−$52.26M	—	—	Dec 31, 2007
2006	$334.93M	−$47.38M	—	—	Dec 31, 2006
2005	$402.52M	−$40.87M	—	—	Dec 31, 2005
2004	$446.80M	−$35.51M	—	—	Dec 31, 2004
2003	$436.06M	−$38.64M	—	—	Dec 31, 2003
2002	$227.40M	−$38.16M	—	—	Dec 31, 2002
2001	$409.38M	−$57.97M	—	—	Dec 31, 2001


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Versant Media Group, Inc. Class A (VSNT)	2.7×

P/FCF Ratio for Plug Power (PLUG)

P/FCF Ratio daily chart for Plug Power (PLUG)

Historical P/FCF Ratio for Plug Power (PLUG) from 2001 to 2025

About P/FCF Ratio at Plug Power (PLUG)

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Plug Power (PLUG) Key Financials

P/FCF Ratio daily chart for Plug Power (PLUG)

Historical P/FCF Ratio for Plug Power (PLUG) from 2001 to 2025

About P/FCF Ratio at Plug Power (PLUG)

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Plug Power's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Plug Power?

+Why does Plug Power's P/FCF ratio change over time?

+Why is Plug Power's P/FCF ratio not available?

Plug Power (PLUG) Key Financials