Plug Power Inc
3.33xPrice / tangible book
Market cap
$3.16B
Tangible equity
$948.84M
Price / tangible book
3.33x
Price / book
3.23x
Return on equity
-166.8%
Return on assets
-62.9%
Efficiency ratio
—
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 · Mkt capMarket cap $3.16B · View financials
Snapshot Sep 8, 2026, 4:00 PM ET
FY 2025 ·
Decision snapshot: PLUG stock price near parity vs TROW $2.26 current versus $2.00 implied using P/TBV multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at TROW's multiple
Implied fair value · at PLUG's multiple
Snapshot Sep 8, 2026, 4:00 PM ET
Metric by metric
Filter, sort, and scan the equity metrics that matter most for banks: book value, tangible book, returns, and operating efficiency.
Multiple premium
Multiple premium
Profitability lag
Asset efficiency lag
Lower is better
Statements
Bank-focused income statement and equity metrics aligned to the reporting windows.
SEC periods: PLUG FY 2025 (ended Dec 31, 2025) · TROW FY 2025 (ended Dec 31, 2025).
Trendline
Ten period-end years of reported revenue, earnings, and margins. Periods and currencies are shown with the data.
Price framework
Tangible book and profitability anchor a bank, not enterprise value.
Deposits and cash-like balances distort enterprise value for banks, so this section reads equity value, tangible book and profitability instead.
Price / tangible book
Market cap
$3.16B
Tangible equity
$948.84M
Price / tangible book
3.33x
Price / book
3.23x
Return on equity
-166.8%
Return on assets
-62.9%
Efficiency ratio
—
Price / tangible book
Market cap
$23.34B
Tangible equity
$7.94B
Price / tangible book
2.94x
Price / book
2.15x
Return on equity
19.2%
Return on assets
14.6%
Efficiency ratio
—
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.
PRICE T ROWE GROUP INC · implied price per share
Bank model off — standard DCF modelling is disabled for financial institutions.
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
0.18x
Net debt / EBITDA
Leverage against operating earnings
-0.81x
-0.52x
Cash and equivalents
Liquid reserves on the balance sheet
$368.54M
$3.38B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider banking comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
$1.55B
$1.95B
LLM-powered synthesis
An explanation of the financial evidence. Check its snapshot date against the figures above.
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