EQNR vs NEWH vs PLUG Stock Comparison

Equinor Asa, NewHydrogen and Plug Power Prices as of Oct 23, 2026 Peers: Industry group
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EQNR Equinor Asa
$48.81 +13.7% 1M +95.5% 1Y
Market cap
$124.80B
P/E
15.6x
Revenue (TTM)
$114.42B
Div. yield
–
Integrated Oil and Gas Energy
8 wins
NEWH NewHydrogen, Inc.
$0.02 +100.0% 1M -50.0% 1Y
Market cap
$15.56M
P/E
–
Revenue (TTM)
—
Div. yield
–
Hydrogen Energy
PLUG Plug Power Inc
$1.38 -32.4% 1M -52.1% 1Y
Market cap
$1.91B
P/E
–
Revenue (TTM)
$744.09M
Div. yield
–
Hydrogen Energy
1 win

Head to Head

9 decided of 12

Equinor Asa leads on 8 of the 12 questions below (Equinor Asa 8, Plug Power 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionEQNRNEWHPLUGLeader
Larger companyMarket capitalisation $124.80B $15.56M $1.91B EQNR
Cheaper on earningsLower P/E, profitable companies only 15.6x -4.5x -1.2x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 9.1x — — –
Faster revenue growthRevenue growth, trailing twelve months +5.8% — +10.6% PLUG
More profitableNet margin, trailing twelve months 7.0% — -220.6% EQNR
Better return on capitalReturn on invested capital 47.7% — -188.4% EQNR
Less leveragedLower net debt / EBITDA 0.0x — 0.1x EQNR
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +95.5% -50.0% -52.1% EQNR
Better 5-year returnAnnualised price return, 5 years +12.1%/yr 0.0%/yr -46.9%/yr EQNR
Less volatileAnnualised volatility, 1 year 39.0% 274.0% 78.1% EQNR
Higher overall scoreMean of the five percentile scores vs peers 67/100 33/100 23/100 EQNR

Percentile Scorecard

EQNRNEWHPLUG

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisEQNRNEWHPLUG
Valuation 81 #20 of 99 10 #10 of 11 0 #11 of 11
Growth 57 #42 of 97 10 #10 of 11 70 #4 of 11
Profitability 81 #19 of 96 – 0 #9 of 9
Financial Health 56 #45 of 102 80 #3 of 11 20 #9 of 11
Shareholder Returns 59 #32 of 76 – –
Overall 67 33 23
  • EQNR ranked among 103 companies in Oil and Gas Upstream
  • NEWH ranked among 11 companies in Renewable Fuels
  • PLUG ranked among 11 companies in Renewable Fuels

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodEQNRNEWHPLUGSPY
1 month +13.7%+100.0%-32.4% -1.0%
3 months +21.0%+100.0%-34.0% +2.9%
6 months +28.7%-50.0%-56.1% +6.4%
Year to date +106.6%0.0%-29.9% +11.4%
1 year +95.5%-50.0%-52.1% +13.1%
3 years +47.8%+100.0%-78.1% +79.4%
3 years, per year +13.9%+26.0%-39.7% +21.5%
5 years +76.8%0.0%-95.8% +67.7%
5 years, per year +12.1%0.0%-46.9% +10.9%
10 years +195.5%-77.8%-14.8% +255.2%
10 years, per year +11.4%-14.0%-1.6% +13.5%

Risk

MeasureEQNRNEWHPLUGSPY
Volatility, 1Y 39.0%274.0%78.1% 12.7%
Downside volatility, 1Y 38.6%857.0%70.2% 12.7%
Beta vs S&P 500, 1Y -1.09-0.092.25 1.00
Return / volatility, 1Y 2.45-0.18-0.67 1.03
Max drawdown, 5Y -47.8%-83.3%-98.4% -25.4%
From 52-week high 0.0%-50.0%-66.7% -2.5%
52-week high $48.81$0.04$4.14 $779.14
52-week low $22.41$0.01$1.37 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleEQNRNEWHPLUG
P/E now vs peer median 15.8xmedian 13.1x -4.5xmedian 10.9x -1.2xmedian 10.9x
P/S now vs peer median 1.1xmedian 2.0x —median 1.2x 2.6xmedian 1.2x
EV/EBITDA now vs peer median 2.8xmedian 5.7x -4.5xmedian 14.0x -1.4xmedian 14.0x
P/FCF now vs peer median 12.7xmedian 11.1x -6.6xmedian 14.1x -3.4xmedian 14.1x
P/B now vs peer median 2.8xmedian 1.5x -6.2xmedian 1.1x 3.3xmedian 1.1x
PEG now vs peer median —median 2.24 -0.17median 0.19 -0.21median 0.19

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsEQNRNEWHPLUG
Revenue $114.42B – $744.09M
Gross profit – – -$138.00M
Operating income $32.53B -$3.49M -$1.29B
Net income $9.05B -$3.49M -$1.71B
Free cash flow $9.58B -$2.45M -$560.50M
R&D $880.00M $1.04M $53.94M
EPS (diluted) $3.08 $0.00 $-1.18
Cash & equivalents $8.06B $739.53K $161.90M
Total debt $105.13B – $65.78M
Shares (diluted) 2.60B 789.92M 1.39B
Enterprise value $39.26B $11.36M $986.42M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricEQNRNEWHPLUG
P/E 15.8x -4.5x -1.2x
P/FCF 12.7x -6.6x -3.4x
P/Operating cash flow 5.3x -6.6x -4.0x
P/S 1.1x – 2.6x
P/B 2.8x -6.2x 3.3x
P/Tangible book 2.8x -6.1x 3.4x
EV/EBITDA 2.8x -4.5x -1.4x
EV/EBIT 3.8x -4.5x -1.4x
EV/Revenue 1.1x – 2.4x
EV/FCF 12.8x -6.3x -3.2x
EV/Operating cash flow 5.3x -6.3x -3.7x
PEG (3Y EPS CAGR) – -0.17 -0.21

Growth

14 metrics
MetricEQNRNEWHPLUG
Revenue growth (1Y) 5.8% – 10.6%
Revenue CAGR (3Y) – – -5.4%
Gross profit growth (1Y) – – 70.1%
Gross profit CAGR (3Y) – – 20.4%
Operating income growth (1Y) 7.6% -73.9% 31.3%
Operating income CAGR (3Y) – 24.5% -15.4%
Net income growth (1Y) 10.0% -74.3% 13.3%
Net income CAGR (3Y) – 24.5% -26.9%
EPS growth (1Y) 24.1% -55.7% 32.5%
EPS CAGR (3Y) – 27.3% 5.5%
Operating cash flow growth (1Y) 15.5% -39.7% 20.0%
Operating cash flow CAGR (3Y) – -21.4% 22.8%
Free cash flow growth (1Y) 39.6% -39.7% 31.6%
Free cash flow CAGR (3Y) – -21.4% 30.6%

Profitability

14 metrics
MetricEQNRNEWHPLUG
Gross margin – – -18.5%
EBITDA margin 38.9% – -168.2%
Operating margin 28.4% – -172.8%
Pretax margin 29.0% – -229.0%
Net margin 7.0% – -220.6%
FCF margin 8.4% – -75.3%
Operating cash flow margin 20.2% – -64.9%
Return on equity 20.9% – -251.3%
Return on assets 658.7% -439.4% -75.0%
Return on invested capital 47.7% – -188.4%
Return on capital employed – -443.1% -72.0%
Asset turnover 83.3x – 0.3x
Cash conversion (OCF / net income) 2.6x 0.7x 0.3x
Stock comp / revenue – – 7.2%

Financial Health

11 metrics
MetricEQNRNEWHPLUG
Debt / assets 1,784% – 0.0%
Debt / equity 0.6x – 0.0x
Net debt / EBITDA 0.0x – 0.1x
Debt / FCF 2.5x – 0.0x
Liabilities / assets -3,046% 426.6% 73.2%
Equity / assets 3,146% -326.6% 26.8%
Interest coverage – – -17.9x
Current ratio 1.2x 123.3x 2.3x
Quick ratio 0.9x 114.7x 0.8x
Cash ratio 0.6x 114.7x 0.3x
Altman Z-score – – -6.07

Shareholder Returns

7 metrics
MetricEQNRNEWHPLUG
Dividend yield 3.1% – –
Net buyback yield – – -2.5%
Shareholder yield 3.1% – -2.5%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusEQNRNEWHPLUG
Forward P/E 9.1xFY2026 – –
EPS, next fiscal year $5.34FY2026 – $-0.41FY2026
EPS growth, next FY +116.2%FY2026 – –
EPS growth, the year after -17.6% – –
Revenue, next fiscal year $120.34BFY2026 – $799.33MFY2026
Revenue growth, next FY +13.7%FY2026 – +12.6%FY2026
Revenue growth, the year after -2.1% – +28.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersEQNRNEWHPLUG
Held by institutions 6.6% – 58.3%
Institutions holding 409 – 508
Change in shares held, QoQ +1.8% – +8.0%
Institutions buying 230 – 276
Institutions selling 115 – 105
Buyers to sellers 2.00 – 2.63

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

EQNRNEWHPLUG
EQNR 1.00 0.08 -0.04
NEWH 0.08 1.00 0.05
PLUG -0.04 0.05 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, EQNR, NEWH and PLUG?

Equinor Asa (EQNR) is the largest by market capitalisation: Equinor Asa (EQNR) $124.80B, NewHydrogen (NEWH) $15.56M, Plug Power (PLUG) $1.91B.

Which company is growing faster?

Plug Power (PLUG) grew revenue fastest over the trailing twelve months: Equinor Asa (EQNR) +5.8%, Plug Power (PLUG) +10.6%.

Which company is more profitable?

Equinor Asa (EQNR) has the highest net margin (Equinor Asa (EQNR) 7.0%, Plug Power (PLUG) -220.6%). On return on invested capital, Equinor Asa (EQNR) leads (Equinor Asa (EQNR) 47.7%, Plug Power (PLUG) -188.4%).

Which stock has performed better?

Over the past year Equinor Asa (EQNR) returned the most: Equinor Asa (EQNR) +95.5%, NewHydrogen (NEWH) -50.0%, Plug Power (PLUG) -52.1%. Over five years, Equinor Asa (EQNR) compounded fastest (Equinor Asa (EQNR) +12.1%/yr, NewHydrogen (NEWH) 0.0%/yr, Plug Power (PLUG) -46.9%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Equinor Asa (EQNR) has been the steadiest (Equinor Asa (EQNR) 39.0%, NewHydrogen (NEWH) 274.0%, Plug Power (PLUG) 78.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, EQNR, NEWH and PLUG?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Equinor Asa (EQNR) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.