News about hydrogen energy

Bloom Energy shares have risen more than 166% since the start of 2026, ahead of third-quarter 2026 results due October 22. The article highlights a conservative net debt-to-EBITDA ratio of 0.35 at the end of Q2 2026 and $175 million of Q2 free cash flow, with trailing-12-month free cash flow positive for more than a year, while hydrogen peers Plug Power and FuelCell Energy have relied on equity and debt raises. However, the stock trades at 347 times trailing earnings, 109 times operating cash flow and 24.3 times trailing sales, versus a five-year average sales multiple of 3.3. The article concludes that, although pricey, the stock is not so expensive that investors with multi-year horizons should look elsewhere.

Plug Power (PLUG), a hydrogen technology developer, went public in 1999 at a reverse-split-adjusted price of $150 and hit a record high of $1,498 in early 2020, but now trades at roughly $1 per share. The company shifted from home hydrogen charging plans to fuel cells, charging systems, electrolyzers and storage, has deployed 76,000 fuel cell systems, and depends heavily on Amazon and Walmart. Recent growth has come mainly from electrolyzer sales for decarbonization projects, and analysts expect revenue to grow at an 18% CAGR from 2025 to 2028 as net losses narrow, even though the stock trades at less than two times next year's sales. The article says Plug could command a higher valuation and deliver multibagger gains if it diversifies beyond Amazon and Walmart and executes its 'Project Quantum Leap' cost-cutting, but calls it a speculative stock that could be easily delisted if it cannot prove its model is sustainable.