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Plug PowerXSWX:PLUG 42 Piotroski F-Score is 4 as of Jul. 13, 2026, which is 33% above its 10-year median of 3.00. GuruFocus rates XSWX:PLUG with a GF Score™ of 42/100 and a GF Value™ of CHF1.25. The stock has 6 warning signs investors should review. Among 2,971 Industrial Products companies, Plug Power ranks worse than 65.26% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Plug Power has an F-score of 4 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for Plug Power's Piotroski F-Score or its related term are showing as below:
XSWX:PLUG'
s Piotroski F-Score Range Over the Past 10 Years
Min: 1 Med: 3 Max: 6
Current: 4
During the past 13 years, the highest Piotroski F-Score of Plug Power was 6. The lowest was 1. And the median was 3.
Plug Power (XSWX:PLUG) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Plug Power Piotroski F-Score Related Terms
Plug Power Piotroski F-Score Historical Data
* Premium members only.
The historical data trend for Plug Power's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
XSWX:PLUG vs HAYW, ATKR, TE: Piotroski F-Score Comparison
For the Electrical Equipment & Parts subindustry, Plug Power's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Plug Power Piotroski F-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Plug Power's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Plug Power's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was -184.677 + -288.084 + -674.153 + -193.128 = CHF-1,340.0 Mil. Cash Flow from Operations was -155.98 + -71.501 + -118.454 + -118.127 = CHF-464.1 Mil. Revenue was 141.472 + 140.953 + 179.478 + 128.734 = CHF590.6 Mil. Gross Profit was -43.478 + -95.663 + 4.344 + -17.011 = CHF-151.8 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(3210.478 + 2727.294 + 2471.693 + 2067.611 + 1864.471) / 5 = CHF2468.3094 Mil. Total Assets at the begining of this year (Mar25) was CHF3,210.5 Mil. Long-Term Debt & Capital Lease Obligation was CHF683.1 Mil. Total Current Assets was CHF1,003.6 Mil. Total Current Liabilities was CHF425.7 Mil.
Net Income was -234.473 + -178.902 + -1190.664 + -173.765 = CHF-1,777.8 Mil.
Revenue was 128.126 + 147.184 + 170.715 + 118.114 = CHF564.1 Mil. Gross Profit was -117.316 + -84.741 + -209.109 + -65.264 = CHF-476.4 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(4307.316 + 4272.233 + 4002.913 + 3212.297 + 3210.478) / 5 = CHF3801.0474 Mil. Total Assets at the begining of last year (Mar24) was CHF4,307.3 Mil. Long-Term Debt & Capital Lease Obligation was CHF667.0 Mil. Total Current Assets was CHF1,355.4 Mil. Total Current Liabilities was CHF696.6 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Plug Power's current Net Income (TTM) was -1,340.0.
==> Negative ==> Score 0.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Plug Power's return on assets of this year was -0.41739641. Plug Power's return on assets of last year was -0.41274056.
==> Last year is higher ==> Score 0.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Plug Power's current ratio of this year was 2.35762912. Plug Power's current ratio of last year was 1.94564014.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Plug Power's number of shares in issue this year was 1389.672. Plug Power's number of shares in issue last year was 945.768.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Plug Power's gross margin of this year was -0.2570242. Plug Power's gross margin of last year was -0.84452591.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Plug Power's asset turnover of this year was 0.18397167. Plug Power's asset turnover of last year was 0.13097228.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score
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Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Plug Power has an F-score of 4 indicating the company's financial situation is typical for a stable company.
Plug Power (XSWX:PLUG) has a Piotroski F-Score of 4 as of Jul. 13, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Plug Power and its competitors. This is 33% above median its historical median of 3.00. Over the past decade, Plug Power's Piotroski F-Score has ranged from 1.00 to 6.00. According to the industry distribution chart, Plug Power ranks #1939 out of 2971 companies in the Industrial Products industry, placing it in the top 65.3%.
Is Plug Power's Piotroski F-Score too high?
Plug Power's current Piotroski F-Score of 4 is 33% above median its 10-year median of 3.00. Over the past 10 years, this metric has ranged from a low of 1.00 to a high of 6.00. The Industrial Products industry median Piotroski F-Score is 5.00. Plug Power's value of 4 is 20% below this industry median. Based on the distribution chart, Plug Power ranks #1939 out of 2971 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Plug Power has a GF Score™ of 42/100, reflecting its overall financial health beyond just this single metric.
How does Plug Power's Piotroski F-Score compare to HAYW and ATKR?
According to the Industrial Products industry distribution chart, Plug Power ranks #1939 out of 2971 companies for Piotroski F-Score. This places Plug Power in the lower half of its industry. The industry median Piotroski F-Score is 5.00. Plug Power's value of 4 is 20% below this benchmark. Historically, Plug Power's own Piotroski F-Score has ranged from 1.00 to 6.00 over the past decade. While the company's 10-year median is 3.00 vs. the industry median of 5.00, Plug Power has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for an Industrial Products company?
The median Piotroski F-Score among Industrial Products companies is 5.00, based on 2,971 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Plug Power's current Piotroski F-Score of 4 is 20% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Plug Power and its competitors. For the Industrial Products industry, the median Piotroski F-Score is 5.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Plug Power's current Piotroski F-Score is 4, which is 33% above median its own 10-year median of 3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Plug Power stock overvalued right now?
Plug Power (XSWX:PLUG) has a current Piotroski F-Score of 4. The stock's GF Value™ is CHF1.25, compared to a current price of CHF1.83 — trading 46.7% above its estimated fair value. The current Piotroski F-Score is 4, which is 33% above median its 10-year median of 3.00 and 20% below the Industrial Products industry median of 5.00. Plug Power's overall GF Score™ is 42/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Plug Power (XSWX:PLUG), the current Piotroski F-Score is 4 as of Jul. 13, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Plug Power (XSWX:PLUG) Overvalued in 2026?
Based on GuruFocus' analysis, Plug Power stock appears to be overvalued.
The current stock price of CHF1.83 is trading 46.7% above its estimated GF Value™ of CHF1.25.
Key valuation signals for XSWX:PLUG:
Piotroski F-Score: 4 (33% above median its 10-year median of 3.00)
GF Value™: CHF1.25 vs. price of CHF1.83 (46.7% above fair value)
Industry Position: 20% below the Industrial Products median (#1939 of 2971)
No single metric tells the full story. See the XSWX:PLUG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Plug Power Inc is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
42GF Score
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