![]() The projected revenue was also upgraded by 13% from its previous 2020 guidance. In October 2021's symposium, the company guided $825M to $850M of revenue for FY22, representing 65% YoY growth. Plug Power is estimated to post robust revenue growth over the next 5 years, with a CAGR of 49.34%. Data source: S&P Capital IQ The Future Looks Bright for Clean Energy Projected EBITDA Margin for FuelCell & Plug Power. However, Plug Power is expected to reach profitability by 2022, earlier than FuelCell in comparison by 2023. Both FuelCell and Plug Power have not reached EBITDA profitability at the moment. The increase is meager as compared to Plug Power's increase of $52.6M in Q2'21. Though FuelCell may report a 191% QoQ increase of revenue in Q3'21, the absolute increase is only $12.8M. Nonetheless, in Q2'21, Plug Power's revenue has normalized from this event, and it also reported an increase of 173% QoQ on its revenue.įuelCell has reported a decline in revenue growth over the past 5 years, with a CAGR of -7.67%. The negative revenue was caused by charges relating to the warrants issued to a key customer in 2017 and the unexpected rise of Plug Power's share price in Q4'20. However, Plug Power reported revenue of -$309M in Q4'20. It represented a remarkable CAGR of 41.02%. Data source: S&P Capital IQīefore the COVID-19 pandemic, Plug Power reported steady revenue growth from 2016 to 2019. Plug Power Maintains its Growth While FuelCell's Growth Remains Stagnant In contrast, FCEL stock remains mired in the red with a YTD return of -19.9%. While it's still trailing the broad market, it has been a remarkable recovery. As a result, PLUG stock has returned 13.2% YTD. Nevertheless, PLUG stock has managed to climb out of its doldrums recently as it guided for a strong FY22. As a result, by April, both stocks had sunk into the red. However, both stocks also lost all their momentum with the growth-to-value rotation, as investors ran for cover from overvalued growth stocks. FCEL stock YTD performance (as of 5 November 21).īoth stocks started the year with a bomb as they raced to a YTD lead of more than 100% early in 2021. The market opportunity for the green hydrogen market is projected to be worth $12 trillion by 2050. With the potential of massive revenue growth, we see an excellent opportunity to add Plug Power to the portfolio now. In contrast, Plug Power has secured multiple high-profile contracts. The company is also unlikely to be reporting substantial revenue in the near term. FuelCell has reported a decline in revenue growth in the past 5 years, with a CAGR of -7.67%. Though FuelCell may seem undervalued now, we find it challenging to justify FuelCell's thesis. In addition, its products and services are offered in North America and Europe. ![]() The company also sells its products to retail consumers and manufacturers through direct sales agents and distributors. Plug Power also offers on-site power generation for telecommunications, transportation, and utility sectors. These are commonly used for industrial and retail electric vehicles. Green hydrogen is the byproduct of splitting water into hydrogen and oxygen through electrolysis powered by renewable energy. The company uses green hydrogen for its proton exchange membrane (PEM) fuel cell technologies. ( NASDAQ: PLUG) develops hydrogen fuel cell systems, which replace conventional batteries for clean energy. FuelCell Energy also offers its products and services in the United States, South Korea, England, Germany, and Switzerland. It allows the consumers to host the installation and only pay for power as per usage. ![]() These power generation plants are financed with long-term power purchase agreements or lease structures. In addition, the company is involved in utility-scale on-site power generation, local hydrogen production for transportation and industry use, and long-duration energy storage. FuelCell captures and concentrates carbon dioxide from industrial sources into fuel cells, which produces power. ( NASDAQ: FCEL) develops carbonate fuel cell technology as a form of clean energy. David McNew/Getty Images News Investment ThesisįuelCell Energy, Inc.
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