Plug Power

PLUG Clean Energy & EV 3/10 Low Risk

3/10

↑ 1 → 3 over 9 weeks

Sector avg: 3.8/10

▲

Risk Score Increased

1/10 → 3/10

Score changed by 2 points as of 2026-05-10. Driver-level breakdown unavailable for this change — likely because the company's reported financial concepts shifted between filings (e.g. a 10-Q omitting a tag the 10-K used) or the scoring methodology was updated. Compare the metrics table below against prior periods on EDGAR for context.

Plug Power carries $4M in long-term debt, with $3M in scheduled principal maturities. Near-term pressure is acute: $2M (70% of all maturities) comes due within 24 months. PLUG shows negative interest coverage (-22.5x), indicating operating losses exceed interest costs and a strong cash position ($369M) that could cover most of its debt obligations. DebtCanary scores PLUG at 3/10, suggesting manageable refinancing risk.

Maturity Schedule

Period	Amount Due	% of Total
Year 1 (0-12 months)	$1M	40.0%
Year 2 (12-24 months)	$900,000	30.0%
Year 3 (24-36 months)	$900,000	30.0%
Year 4 (36-48 months)	N/A	N/A
Year 5 (48-60 months)	N/A	N/A
Beyond 5 Years	N/A	N/A
Total Scheduled Maturities	$3M	100.0%

Key Metrics

Total Long-Term Debt

$4M

Near-Term (12mo)

$1M

Interest Coverage

Loss

Debt/Equity

0.00

Cash Coverage

307.12x

Operating Income

-$1.5B

Score Components

Component	Value	Weight
Near-Term Maturity Concentration	N/A	30%
Interest Coverage Ratio	Loss	25%
Debt-to-Equity Ratio	0.00	25%
Cash Coverage of Near-Term Debt	307.12x	20%

Recent SEC Filings

Material disclosures from Plug Power's most recent EDGAR filings. 8-K item labels indicate the type of event reported.

Date	Form	Details
2026-04-30	DEFA14A	Additional proxy materials
2026-04-30	DEF 14A	Proxy statement
2026-03-10	8-K	Officer / Director Change
2026-03-02	10-K	Annual report
2026-03-02	8-K	Earnings Results
2026-02-26	8-K	Material Agreement, Other Events
2026-02-13	8-K	Bylaw Amendment, Shareholder Vote
2026-02-11	DEFA14A	Additional proxy materials

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Data Source: Financial data sourced from SEC EDGAR XBRL filings (10-K annual reports). Fiscal period end: 2025-12-31. Filing date: 2026-03-02. Data last fetched: 2026-05-10. Maturity schedules reflect the company's most recently reported debt repayment obligations. Data quality: Partial.
View SEC EDGAR filings for Plug Power →