Plug Power Inc
$4.21B- Market cap
- $3.03B
- Debt
- +$1.55B
- Cash
- −$368.54M
Capital structure 66% equity / 34% debt · EV / Revenue 5.93x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $3.03B · View financials
Snapshot Sep 4, 4:00 PM ET
FY 2025 ·
Decision snapshot: PLUG stock price at discount vs CTMX $2.17 current versus $5.39 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at CTMX's multiple
Implied fair value · at PLUG's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: PLUG FY 2025 (ended Dec 31, 2025) · CTMX FY 2025 (ended Dec 31, 2025).
Trendline
Ten fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 66% equity / 34% debt · EV / Revenue 5.93x
Capital structure 98% equity / 2% debt · EV / Revenue 10.66x
PLUG carries the larger enterprise value at $4.21B against $812.63M; PLUG trades on the lower EV / Revenue multiple (5.93x vs 10.66x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
PLUG POWER INC · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
CytomX Therapeutics, Inc. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
1.58x
0.17x
Net debt / EBITDA
Leverage against operating earnings
-0.81x
-0.27x
Cash and equivalents
Liquid reserves on the balance sheet
$368.54M
$12.67M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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