Plug Power Inc. (PLUG)财务
NASDAQ · Industrials · Electrical Equipment & Parts · 员工2,344人 · CEO Jose Luis Crespo
- 股价
- $1.37 -3.87%
- 市值
- $19.1亿
- 企业价值
- $25.7亿
- 最近财报
- Q2 '26 2026-08-10提交
- 下次财报
- 2026-11-09 EPS预期 -$0.07
营收(TTM)$7.44亿+10.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-70.2%+203.5 百分点 对比去年同期营业利润 -$5.22亿
净利润(TTM)-$16.4亿+16.7% 对比去年同期税后,含营业外收益
自由现金流(TTM)-$5.36亿+34.0% 对比去年同期资本支出 $5360万
稀释EPS(TTM)-$1.36+35.8% 对比去年同期最近4个季度之和
净现金-$6.61亿+22.3% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $19.1亿 EV $25.7亿
- 营收
- $7.44亿 过去12个月
- 营收增速
- +16% FY2026年一致预期
- 净利润率
- -220.6% 净利润 / 营收,TTM
- P/E
- -1.0× 预期 -3.3×(FY2026)
- P/S
- 2.6× 股价 / 营收,TTM
- EV / EBITDA
- -1.6× TTM
- 自由现金流
- -$5.36亿 过去12个月
- 净利润
- -$16.4亿 过去12个月
- 营收预期
- $8.21亿 FY2026年一致预期
- 盈利
- 2026-11-09 营收预期 $1.98亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-10):营收超预期5.4%,EPS 低于预期80.1%营收$1.78亿,预期$1.69亿(+5.4%);EPS -$0.14,预期-$0.08(-80.1%)。
- 营收增长放缓:同比2.5%Q2 '26营收$1.78亿,此前四个季度的平均值为15.8%。
- 营业利润率-70.2%(TTM),较去年同期+203.5 百分点营收增长10.6%,营业利润增长71.7%。
- 资本支出占营收的7.2%(去年为31.0%)最近4个季度投入$5360万(同比-74.3%)。自由现金流-$5.36亿。
- 稀释股数一年内增加23.5%Q2 '26稀释股数13.9亿,一年前为11.3亿。
- 净债务 $6.61亿现金 + 短期投资 $1.62亿,含租赁债务 $8.23亿;一年前净债务 $8.51亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $1.78亿 | $1.74亿 | +2.5% |
| 毛利率 | -0.9% | -30.7% | +29.8 百分点 |
| 营业利润 | -$6410万 | -$1.54亿 | +58.2% |
| 营业利润率 | -36.0% | -88.3% | +52.3 百分点 |
| 净利润 | -$1.88亿 | -$2.27亿 | +17.1% |
| 稀释EPS | -$0.14 | -$0.20 | +30.0% |
| 经营现金流 | -$9410万 | -$1.92亿 | +51.0% |
| 资本支出 | $630万 | $3860万 | -83.7% |
| 自由现金流 | -$1亿 | -$2.3亿 | +56.4% |
| R&D | $1340万 | $1220万 | +10.1% |
| 股权激励费用 | $1300万 | $1310万 | -1.0% |
实际 vs 一致预期
2026-08-10| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $1.78亿 | $1.69亿 | +5.4% |
| EPS(一致预期口径) | -$0.14 | -$0.08 | -80.1% |
来自2026-08-10发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Sale Of Electrolyzers | $1320万 | -70.5% | 7.4% | $1.88亿 | +8.4% | |
| Sales Of Fuel Cell Systems | $3190万 | +105.2% | 17.9% | $6550万 | – | |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $2980万 | +82.3% | 16.7% | $1.13亿 | +90.4% | |
| Fuel Delivered To Customers | $3950万 | +14.7% | 22.1% | $1.45亿 | – | |
| Sale Of Hydrogen Infrastructure | $822万 | -29.1% | 4.6% | $3030万 | -50.1% | |
| Power Purchase Agreements | $2690万 | +14.0% | 15.1% | $1.14亿 | +31.4% | |
| Sale of cryogenic equipment | $2670万 | -0.5% | 15.0% | $7760万 | – | |
| Sale Of Engineered Equipment | $184万 | +510.0% | 1.0% | $808万 | -47.2% | |
| Other Product And Services | $15.3万 | -61.6% | 0.1% | $296万 | -44.1% |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $4.15亿 | – | 71.9% | – | – | |
| North America | – | – | – | – | – | |
| Non-US | $1.62亿 | – | 28.1% | – | – | |
| Europe | – | – | – | – | – | |
| Asia | – | – | – | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- -$4.83亿
- 资本支出
- -$5360万
- 股票回购
- -$12.2万
- 股息
- -$1650万
- 收购
- -$674万
- 债务净发行
- -$8850万
- 股权激励费用
- $2300万
- 自由现金流
- -$5.36亿
- 股东回报 / FCF
- -3.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -1.0× | – | – |
| EV / EBITDA | -1.6× | – | – |
| EV / 营收 | 3.5× | 10.2× | 3.8× – 28.0× |
| 股价 / FCF | -3.6× | – | – |
| 股价 / 净资产 | 3.3× | 1.9× | 0.9× – 3.4× |
| FCF收益率 | -28.1% | -34.6% | -67.3% – -3.5% |
| 投入资本回报率 | -29.6% | -29.8% | -65.5% – -7.5% |
| 净资产收益率 | -176.2% | -72.6% | -166.8% – -10.0% |
分析师
一致目标价 $2.65 (+94.1%)
区间 $1.20 – $5.00 · 评级 Buy
强烈买入0
买入17
持有16
卖出5
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $8.21亿 | +15.7% | -$0.42 | +70.4% | -3.3× | 8 |
| FY2027 | $9.76亿 | +18.9% | -$0.16 | +62.8% | -8.8× | 9 |
| FY2028 | $11.6亿 | +18.8% | -$0.09 | +43.1% | -15.5× | 10 |
| FY2029 | $14.8亿 | +27.3% | -$0.02 | +81.1% | -81.9× | 4 |
| FY2030 | $19.4亿 | +31.2% | $0.05 | +380.0% | 29.2× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Plug Power Inc.在近期10-Q / 10-K文件中标记的全部258项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| -$1420万 | -$552万 | -157.4% | – | – | – | |
| Accounts Payable, Current | $1.44亿 | $1.52亿 | -5.1% | $1.69亿 | $1.81亿 | -6.8% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $1.26亿 | $1.39亿 | -9.3% | $1.35亿 | $1.57亿 | -14.3% |
| Accounts Receivable, Allowance for Credit Loss, Current | $3930万 | – | – | $4680万 | $3770万 | +24.1% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $0 | $463万 | -100.0% | $2850万 | $2890万 | -1.6% |
| Accrued Liabilities, Current | $1.06亿 | $1.05亿 | +0.5% | $1.28亿 | $1.03亿 | +24.1% |
| Accrued Salaries, Current | $3420万2025-12-31 | $1460万 | +133.8% | $3420万 | $1460万 | +133.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2410万2025-12-31 | $4180万 | -42.3% | $2410万 | $4180万 | -42.3% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $245万 | $348万 | -29.6% | $680万 | -$250万 | +371.6% |
| Additional Paid in Capital | $92.3亿 | $87.9亿 | +5.0% | $91.9亿 | $84.3亿 | +9.0% |
| Amortization of Debt Issuance Costs and Discounts | $108万 | $10.6万 | +922.6% | $126万 | -$283万 | +144.4% |
| Amortization of Intangible Assets | $90万 | $200万 | -55.0% | $695万 | $2340万 | -70.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 886万 | -8240万 | +110.7% | 4.33亿 | 2.33亿 | +85.4% |
| Asset Impairment Charges | $1940万 | $2060万 | -6.0% | $7.85亿 | $9.49亿 | -17.3% |
| Assets | $21.9亿 | $33.5亿 | -34.6% | $25.9亿 | $36亿 | -28.0% |
| Assets, Current | $11.5亿 | $13.3亿 | -13.8% | $14.1亿 | $14.8亿 | -4.5% |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $19.7万 | -$16.8万 | +217.3% | -$2350万 | -$1580万 | -48.2% |
| Business Combination, Contingent Consideration, Liability, Current | $5990万 | – | – | $8640万 | $9390万 | -8.0% |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $3580万 | – | – | $5770万 | $1.36亿 | -57.5% |
| Capital Expenditures Incurred but Not yet Paid | -$378万 | -$663万 | +43.0% | $2580万 | $5490万 | -53.0% |
| Cash and Cash Equivalents, at Carrying Value | $1.62亿 | $1.41亿 | +15.0% | $3.69亿 | $2.06亿 | +79.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $6.72亿 | $8.77亿 | -23.4% | $9.94亿 | $10.4亿 | -4.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$6130万 | -$1.55亿 | +60.5% | $1.63亿 | $7070万 | +130.5% |
| Cash, FDIC Insured Amount | $25万2025-12-31 | $25万 | 0.0% | $25万 | $25万 | 0.0% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 30亿 | 15亿 | +100.0% | 15亿 | 15亿 | 0.0% |
| Common Stock, Shares, Issued | 14亿 | 11.7亿 | +19.9% | 13.9亿 | 9.34亿 | +49.3% |
| Common Stock, Value, Issued | $1400万 | $1170万 | +19.9% | $1390万 | $934万 | +49.3% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | -$190万 | -$163万 | -16.4% | -$6210万 | -$20.4万 | -30,328.4% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$1.89亿 | -$2.18亿 | +13.4% | -$16.2亿 | -$21亿 | +22.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$1.91亿 | -$2.2亿 | +13.1% | -$16.8亿 | -$21亿 | +19.8% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $1.03亿 | $9770万 | +5.6% | $1.05亿 | $9410万 | +11.9% |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $1850万 | $2310万 | -20.0% | $2410万 | $2400万 | +0.7% |
| Contract with Customer, Asset, Allowance for Credit Loss, Writeoff | $2810万2025-09-30 | – | – | – | – | – |
| Contract with Customer, Asset, Reclassified to Receivable | $2100万 | – | – | $2130万 | – | – |
| Contract with Customer, Liability, Revenue Recognized | $2170万 | $2940万 | -26.1% | $1.28亿 | $1.61亿 | -20.5% |
| Contribution of Property | $49.2万2025-12-31 | – | – | $283万 | $1050万 | -73.0% |
| Convertible Notes Payable, Current | $250万2026-03-31 | $5840万 | -95.7% | $258万 | $5830万 | -95.6% |
| Convertible Notes Payable, Noncurrent | $5.78亿 | – | – | $4.31亿 | $3.21亿 | +34.2% |
| Cost of Revenue | $1.8亿 | $2.27亿 | -20.9% | $9.52亿 | $12.5亿 | -24.1% |
| Cost, Depreciation | – | – | – | $2540万 | $4280万 | -40.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $34.6万 | $46.9万 | -26.2% |
| Debt Securities, Available-for-sale, Allowance for Credit Loss, Current | $4870万2025-09-30 | – | – | $02023-12-31 | $0 | – |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | – | – | – | -$1280万2023-12-31 | -$140万 | -818.0% |
| Deferred Income Tax Expense (Benefit) | – | – | – | -$1.65亿 | -$2.15亿 | +23.4% |
| Deferred Income Taxes and Other Liabilities, Noncurrent | $1.3万2025-12-31 | $1.9万 | -31.6% | $1.3万 | $1.9万 | -31.6% |
| Deferred Revenue, Current | $6030万 | $1.07亿 | -43.7% | $6670万 | $1.44亿 | -53.7% |
| Deferred Revenue, Noncurrent | $2610万 | $4060万 | -35.6% | $3420万 | $5850万 | -41.6% |
| Deferred Tax Assets, Capital Loss Carryforwards | $1460万2025-12-31 | $265万 | +451.9% | $1460万 | $265万 | +451.9% |
| Deferred Tax Assets, Deferred Income | $1690万2025-12-31 | $2310万 | -26.7% | $1690万 | $2310万 | -26.7% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $465万2025-12-31 | – | – | $465万 | – | – |
| Deferred Tax Assets, Gross | $14.9亿2025-12-31 | $11.7亿 | +27.3% | $14.9亿 | $11.7亿 | +27.3% |
| Deferred Tax Assets, Net | $1.3万2025-12-31 | $1.9万 | -31.6% | $1.3万 | $1.9万 | -31.6% |
| Deferred Tax Assets, Net of Valuation Allowance | $4270万2025-12-31 | $6110万 | -30.2% | $4270万 | $6110万 | -30.2% |
| Deferred Tax Assets, Operating Loss Carryforwards | $8.46亿2025-12-31 | $6.72亿 | +25.9% | $8.46亿 | $6.72亿 | +25.9% |
| Deferred Tax Assets, Tax Credit Carryforwards | $2600万2025-12-31 | $2480万 | +5.1% | $2600万 | $2480万 | +5.1% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $4300万2025-12-31 | $4200万 | +2.5% | $4300万 | $4200万 | +2.5% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Other | $7790万2025-12-31 | $7020万 | +11.0% | $7790万 | $7020万 | +11.0% |
| Deferred Tax Assets, Valuation Allowance | $14.5亿2025-12-31 | $11.1亿 | +30.5% | $14.5亿 | $11.1亿 | +30.5% |
| Deferred Tax Liabilities, Gross | $4260万2025-12-31 | $6110万 | -30.2% | $4260万 | $6110万 | -30.2% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02