PLUG vs NEWH vs EQNR Stock Comparison

Plug Power, NewHydrogen and Equinor Asa Prices as of Oct 23, 2026 Peers: Industry group
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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
NEWH NewHydrogen, Inc.
$0.02 +100.0% 1M -50.0% 1Y
Market cap
$15.56M
P/E
–
Revenue (TTM)
—
Div. yield
–
Hydrogen Energy
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

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.

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

Percentile Scorecard

PLUGNEWHEQNR

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

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

Price Performance

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

Returns

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

Risk

MeasurePLUGNEWHEQNRSPY
Volatility, 1Y 78.1%274.0%39.0% 12.7%
Downside volatility, 1Y 70.2%857.0%38.6% 12.7%
Beta vs S&P 500, 1Y 2.25-0.09-1.09 1.00
Return / volatility, 1Y -0.67-0.182.45 1.03
Max drawdown, 5Y -98.4%-83.3%-47.8% -25.4%
From 52-week high -66.7%-50.0%0.0% -2.5%
52-week high $4.14$0.04$48.81 $779.14
52-week low $1.37$0.01$22.41 $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.

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

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

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

Growth

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

Profitability

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

Financial Health

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

Shareholder Returns

7 metrics
MetricPLUGNEWHEQNR
Dividend yield – – 3.1%
Net buyback yield -2.5% – –
Shareholder yield -2.5% – 3.1%
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.

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

Institutional Ownership

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

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.

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

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, PLUG, NEWH and EQNR?

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

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%.

Which company is more profitable?

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

Which stock has performed better?

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

Which stock is riskier?

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

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

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.