PLUG vs EQNR vs BKR Stock Comparison

Plug Power, Equinor Asa and Baker Hughes Prices as of Oct 23, 2026 Peers: Industry group
1 more company in this comparison (SLB) Create a free account to keep reading and compare up to 10 companies.
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
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
7 wins
BKR Baker Hughes Co
$55.86 -3.7% 1M +14.3% 1Y
Market cap
$55.58B
P/E
18.0x
Revenue (TTM)
$27.73B
Div. yield
0.02%
Oilfield Services Energy
3 wins

Head to Head

11 decided of 12

Equinor Asa leads on 7 of the 12 questions below (Equinor Asa 7, Baker Hughes 3, Plug Power 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionPLUGEQNRBKRLeader
Larger companyMarket capitalisation $1.91B $124.80B $55.58B EQNR
Cheaper on earningsLower P/E, profitable companies only -1.2x 15.6x 18.0x EQNR
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 9.1x 22.3x EQNR
Faster revenue growthRevenue growth, trailing twelve months +10.6% +5.8% +0.4% PLUG
More profitableNet margin, trailing twelve months -220.6% 7.0% 11.2% BKR
Better return on capitalReturn on invested capital -188.4% 47.7% 8.9% EQNR
Less leveragedLower net debt / EBITDA 0.1x 0.0x 0.1x EQNR
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.02% –
Better 1-year returnPrice return, last 12 months -52.1% +95.5% +14.3% EQNR
Better 5-year returnAnnualised price return, 5 years -46.9%/yr +12.1%/yr +17.8%/yr BKR
Less volatileAnnualised volatility, 1 year 78.1% 39.0% 33.4% BKR
Higher overall scoreMean of the five percentile scores vs peers 23/100 67/100 54/100 EQNR

Percentile Scorecard

PLUGEQNRBKR

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

AxisPLUGEQNRBKR
Valuation 0 #11 of 11 81 #20 of 99 37 #30 of 47
Growth 70 #4 of 11 57 #42 of 97 65 #16 of 44
Profitability 0 #9 of 9 81 #19 of 96 78 #10 of 41
Financial Health 20 #9 of 11 56 #45 of 102 49 #24 of 46
Shareholder Returns – 59 #32 of 76 42 #19 of 32
Overall 23 67 54
  • PLUG ranked among 11 companies in Renewable Fuels
  • EQNR ranked among 103 companies in Oil and Gas Upstream
  • BKR ranked among 48 companies in Oilfield Services and Equipment

Price Performance

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

Returns

PeriodPLUGEQNRBKRSPY
1 month -32.4%+13.7%-3.7% -1.0%
3 months -34.0%+21.0%-2.4% +2.9%
6 months -56.1%+28.7%-19.0% +6.4%
Year to date -29.9%+106.6%+22.7% +11.4%
1 year -52.1%+95.5%+14.3% +13.1%
3 years -78.1%+47.8%+62.0% +79.4%
3 years, per year -39.7%+13.9%+17.5% +21.5%
5 years -95.8%+76.8%+126.7% +67.7%
5 years, per year -46.9%+12.1%+17.8% +10.9%
10 years -14.8%+195.5%— +255.2%
10 years, per year -1.6%+11.4%— +13.5%

Risk

MeasurePLUGEQNRBKRSPY
Volatility, 1Y 78.1%39.0%33.4% 12.7%
Downside volatility, 1Y 70.2%38.6%34.3% 12.7%
Beta vs S&P 500, 1Y 2.25-1.090.65 1.00
Return / volatility, 1Y -0.672.450.43 1.03
Max drawdown, 5Y -98.4%-47.8%-47.2% -25.4%
From 52-week high -66.7%0.0%-19.8% -2.5%
52-week high $4.14$48.81$69.67 $779.14
52-week low $1.37$22.41$44.47 $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.

MultiplePLUGEQNRBKR
P/E now vs peer median -1.2xmedian 10.9x 15.8xmedian 13.1x 17.9xmedian 25.5x
P/S now vs peer median 2.6xmedian 1.2x 1.1xmedian 2.0x 2.0xmedian 1.2x
EV/EBITDA now vs peer median -1.4xmedian 14.0x 2.8xmedian 5.7x 11.5xmedian 8.8x
P/FCF now vs peer median -3.4xmedian 14.1x 12.7xmedian 11.1x 17.7xmedian 14.7x
P/B now vs peer median 3.3xmedian 1.1x 2.8xmedian 1.5x 2.8xmedian 1.6x
PEG now vs peer median -0.21median 0.19 —median 2.24 0.45median 0.41

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 monthsPLUGEQNRBKR
Revenue $744.09M $114.42B $27.73B
Gross profit -$138.00M – $6.58B
Operating income -$1.29B $32.53B $3.59B
Net income -$1.71B $9.05B $3.12B
Free cash flow -$560.50M $9.58B $3.13B
R&D $53.94M $880.00M $569.00M
EPS (diluted) $-1.18 $3.08 $3.11
Cash & equivalents $161.90M $8.06B $15.73B
Total debt $65.78M $105.13B $16.25B
Shares (diluted) 1.39B 2.60B 997.00M
Enterprise value $986.42M $39.26B $18.68B

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
MetricPLUGEQNRBKR
P/E -1.2x 15.8x 17.9x
P/FCF -3.4x 12.7x 17.7x
P/Operating cash flow -4.0x 5.3x 12.5x
P/S 2.6x 1.1x 2.0x
P/B 3.3x 2.8x 2.8x
P/Tangible book 3.4x 2.8x 3.4x
EV/EBITDA -1.4x 2.8x 11.5x
EV/EBIT -1.4x 3.8x 15.6x
EV/Revenue 2.4x 1.1x 2.0x
EV/FCF -3.2x 12.8x 17.9x
EV/Operating cash flow -3.7x 5.3x 12.6x
PEG (3Y EPS CAGR) -0.21 – 0.45

Growth

14 metrics
MetricPLUGEQNRBKR
Revenue growth (1Y) 10.6% 5.8% 0.4%
Revenue CAGR (3Y) -5.4% – 6.0%
Gross profit growth (1Y) 70.1% – -0.9%
Gross profit CAGR (3Y) 20.4% – 5.8%
Operating income growth (1Y) 31.3% 7.6% 9.7%
Operating income CAGR (3Y) -15.4% – 23.9%
Net income growth (1Y) 13.3% 10.0% 1.3%
Net income CAGR (3Y) -26.9% – 39.1%
EPS growth (1Y) 32.5% 24.1% 1.0%
EPS CAGR (3Y) 5.5% – 39.9%
Operating cash flow growth (1Y) 20.0% 15.5% 29.7%
Operating cash flow CAGR (3Y) 22.8% – 16.4%
Free cash flow growth (1Y) 31.6% 39.6% 44.5%
Free cash flow CAGR (3Y) 30.6% – 21.8%

Profitability

14 metrics
MetricPLUGEQNRBKR
Gross margin -18.5% – 23.7%
EBITDA margin -168.2% 38.9% 17.6%
Operating margin -172.8% 28.4% 12.9%
Pretax margin -229.0% 29.0% 12.7%
Net margin -220.6% 7.0% 11.2%
FCF margin -75.3% 8.4% 11.3%
Operating cash flow margin -64.9% 20.2% 16.0%
Return on equity -251.3% 20.9% 15.8%
Return on assets -75.0% 658.7% 6.0%
Return on invested capital -188.4% 47.7% 8.9%
Return on capital employed -72.0% – 9.7%
Asset turnover 0.3x 83.3x 0.5x
Cash conversion (OCF / net income) 0.3x 2.6x 1.4x
Stock comp / revenue 7.2% – 0.7%

Financial Health

11 metrics
MetricPLUGEQNRBKR
Debt / assets 0.0% 1,784% 30.9%
Debt / equity 0.0x 0.6x 0.8x
Net debt / EBITDA 0.1x 0.0x 0.1x
Debt / FCF 0.0x 2.5x 5.2x
Liabilities / assets 73.2% -3,046% 61.8%
Equity / assets 26.8% 3,146% 38.2%
Interest coverage -17.9x – –
Current ratio 2.3x 1.2x 2.1x
Quick ratio 0.8x 0.9x 1.7x
Cash ratio 0.3x 0.6x 1.1x
Altman Z-score -6.07 – 2.10

Shareholder Returns

7 metrics
MetricPLUGEQNRBKR
Dividend yield – 3.1% 1.6%
Net buyback yield -2.5% – –
Shareholder yield -2.5% 3.1% 1.6%
Payout ratio (earnings) – – 29.1%
Payout ratio (FCF) – – 29.1%
Dividend growth (1Y) – – 4.2%
Dividend CAGR (3Y) – – 6.4%

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.

ConsensusPLUGEQNRBKR
Forward P/E – 9.1xFY2026 22.3xFY2026
EPS, next fiscal year $-0.41FY2026 $5.34FY2026 $2.50FY2026
EPS growth, next FY – +116.2%FY2026 -3.8%FY2026
EPS growth, the year after – -17.6% +12.0%
Revenue, next fiscal year $799.33MFY2026 $120.34BFY2026 $30.78BFY2026
Revenue growth, next FY +12.6%FY2026 +13.7%FY2026 +11.0%FY2026
Revenue growth, the year after +28.0% -2.1% -2.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersPLUGEQNRBKR
Held by institutions 58.3% 6.6% 97.2%
Institutions holding 508 409 1,148
Change in shares held, QoQ +8.0% +1.8% +5.2%
Institutions buying 276 230 576
Institutions selling 105 115 429
Buyers to sellers 2.63 2.00 1.34

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.

PLUGEQNRBKR
PLUG 1.00 -0.04 0.06
EQNR -0.04 1.00 0.20
BKR 0.06 0.20 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, PLUG, EQNR and BKR?

Equinor Asa (EQNR) is the largest by market capitalisation: Plug Power (PLUG) $1.91B, Equinor Asa (EQNR) $124.80B, Baker Hughes (BKR) $55.58B.

Which stock is cheaper, PLUG, EQNR and BKR?

Equinor Asa (EQNR) trades on the lowest price-to-earnings ratio (Plug Power (PLUG) -1.2x, Equinor Asa (EQNR) 15.6x, Baker Hughes (BKR) 18.0x). On next year's consensus earnings, Equinor Asa (EQNR) is cheapest (Equinor Asa (EQNR) 9.1x, Baker Hughes (BKR) 22.3x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Plug Power (PLUG) grew revenue fastest over the trailing twelve months: Plug Power (PLUG) +10.6%, Equinor Asa (EQNR) +5.8%, Baker Hughes (BKR) +0.4%.

Which company is more profitable?

Baker Hughes (BKR) has the highest net margin (Plug Power (PLUG) -220.6%, Equinor Asa (EQNR) 7.0%, Baker Hughes (BKR) 11.2%). On return on invested capital, Equinor Asa (EQNR) leads (Plug Power (PLUG) -188.4%, Equinor Asa (EQNR) 47.7%, Baker Hughes (BKR) 8.9%).

Which stock has performed better?

Over the past year Equinor Asa (EQNR) returned the most: Plug Power (PLUG) -52.1%, Equinor Asa (EQNR) +95.5%, Baker Hughes (BKR) +14.3%. Over five years, Baker Hughes (BKR) compounded fastest (Plug Power (PLUG) -46.9%/yr, Equinor Asa (EQNR) +12.1%/yr, Baker Hughes (BKR) +17.8%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Plug Power (PLUG) 0.00%, Equinor Asa (EQNR) 0.00%, Baker Hughes (BKR) 0.02%. Plug Power (PLUG) and Equinor Asa (EQNR) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Baker Hughes (BKR) has been the steadiest (Plug Power (PLUG) 78.1%, Equinor Asa (EQNR) 39.0%, Baker Hughes (BKR) 33.4%). Volatility measures how widely the price swings, not the risk of the business.

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

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 7. 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.