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Quick Ratio for Plug Power Inc

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PLUN: Plug Power Inc

Plug Power Inc. develops hydrogen fuel cells product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen fueled proton exchange membrane (PEM) fuel c...

1.01 EUR
Price
– EUR
Fair Value
–
Upside
0.97 - 4.59
52-week range
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Analysis

Fiscal Years
Trailing Twelve Months
Fiscal Halfs
Fiscal Quarters
Daily
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The following section summarizes insights on Plug Power Inc's Quick Ratio:

Dec 2016Dec 2018Dec 2020Dec 2022Dec 20242.0x6.0x10.0x
Performance Summary
  • Plug Power's quick ratio last quarter was 0.6x
  • Plug Power's quick ratio for fiscal years ending December 2020 to 2024 averaged 4.1x.
  • Plug Power's operated at median quick ratio of 3.7x from fiscal years ending December 2020 to 2024.
  • Looking back at the last 5 years, Plug Power's quick ratio peaked in December 2021 at 9.5x.
  • Plug Power's quick ratio hit its 5-year low in December 2023 of 0.5x.
  • Plug Power's quick ratio decreased in 2022 (3.7x, -61.1%) and 2023 (0.5x, -85.8%) and increased in 2020 (6.2x, +362.6%), 2021 (9.5x, +54.3%), and 2024 (0.6x, +16.6%).

How does Plug Power's Quick Ratio benchmark against competitors?

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We've identified the following companies as similar to Plug Power Inc because they operate in a related industry or sector. We also considered size, growth, and various financial metrics to narrow down the list to the ones listed below.

Plug Power Quick Ratio Benchmarks
NameTickerQuick Ratio
Advent Technologies Holdings IncNASDAQCM:ADN0.0x
Capstone Green Energy CorpOTCPK:CGEH0.3x
Siemens Energy AGOTCPK:SMEG.F0.5x
Sunrun IncNASDAQGS:RUN0.6x
Plug Power IncXTRA:PLUN0.6x
Nikola CorpOTCPK:NKLA.Q0.8x
Electrovaya IncNASDAQCM:ELVA0.8x
IndustrialsSECTOR:IND.US1.0x
SFC Energy AGOTCPK:SSMF.F2.5x
Nel ASAOTCPK:NLLS.F2.6x
NeoVolta IncNASDAQCM:NEOV5.9x
Ballard Power Systems IncNASDAQGM:BLDP8.4x

Metric Usage: Quick Ratio

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quick_ratio
Slug
number
Datatype
text
Format
current
Default Period
FY, Q
Periods Supported
Free
Plan

To view the full list of supported financial metrics please see Complete Metrics Listing.

Similar Metrics

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Metrics similar to Quick Ratio in the risk category include:

  • Degree of Combined Leverage (DCL) - The degree of combined leverage expands on the degree of operating leverage to provide a view of a company's ability to generate profits from sales. It multiplies DOL and DFL.
  • EBITDA less CapEx Interest Coverage Ratio - A ratio used to assess a firm's ability to pay interest expenses based on EBITDA less Capital Expenditures.
  • Cash / Total Capital - A ratio that measures the level of the cash relative to the market value of total capital.
  • Beta (5 Year) - A ratio that measures the risk or volatility of a company's share price in comparison to the market as a whole. A beta of 1.0 means that the company rises and falls in direct relationship to the movement of the benchmark index. A beta that is less than 1 indicates a stock that is less volatile than the overall market and a beta greater than 1 indicates that the stock is more volatile.
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Quick Ratio

A ratio used to assess a company's short-term liquidity.

Definition of Quick Ratio

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Quick Ratio or acid-test or liquidity ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately. Quick Ratio is defined as:

(Cash & ST Investments
  (+) Accounts Receivable)
(/) Current Liabilities
(=) Quick Ratio

Quick Ratio for Plug Power is calculated as follows:

(Cash & ST Investments [ 198.6 M ]
  (+) Accounts Receivable [ 242.6 M ]
(/) Current Liabilities [ 722.5 M ]
(=) Quick Ratio [ 0.6x ]

The tables below summarizes the trend in Plug Power’s quick ratio over the last five years:

Fiscal Year Cash & ST Investments Accounts Receivable Current Liabilities Quick Ratio
2020-12-31 1.074 B 47.8 M 182 M 6.2x
2021-12-31 3.4 B 115.4 M 369.5 M 9.5x
2022-12-31 2.016 B 179.2 M 593.3 M 3.7x
2023-12-31 122.3 M 335.2 M 873.9 M 0.5x
2024-12-31 198.6 M 242.6 M 722.5 M 0.6x

The tables below summarizes the trend in Plug Power’s quick ratio over the last four quarters:

Fiscal Year Cash & ST Investments Accounts Receivable Current Liabilities Quick Ratio
2024-03-31 160.2 M 258.4 M 844.6 M 0.5x
2024-06-30 58.212 M 301.3 M 755.8 M 0.5x
2024-09-30 84.368 M 280.9 M 706.8 M 0.5x
2024-12-31 198.6 M 242.6 M 722.5 M 0.6x

Read more on Wikipedia: Quick Ratio

Click the link below to download a spreadsheet with an example Quick Ratio calculation for Plug Power Inc below:

Sector Benchmark Analysis

Sector
Industry Group
Industry
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0.1x3.1x8.7x0100200300

The chart above depicts the distribution of quick ratio for companies operating in the Industrials sector in the Developed economic region. Over 3,570 companies were considered in this analysis, and 3,430 had meaningful values. The average quick ratio of companies in the sector is 1.5x with a standard deviation of 1.2x.

Plug Power Inc's Quick Ratio of 0.6x ranks in the 18.9% percentile for the sector. The following table provides additional summary stats:

Quick Ratio In The Industrials Sector
Economic Risk RegionDeveloped
Total Constituents3,574
Included Constituents3,430
Min0.0x
Max8.5x
Median1.1x
Mean1.5x
Standard Deviation1.2x

You can find companies with similar quick ratio using this stock screener.

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