OESX vs PLUG

Orion Energy Systems, Inc. vs Plug Power, Inc. — Valuation Comparison 2026

By CirclFi Research Team · Updated 2026-06-03 · Data from SEC EDGAR, FRED & GDELT

Quick Summary — OESX scores higher on quality with 6.1/10 vs PLUG's 5.9/10. OESX trades at $9.48 while PLUG trades at $4.09. Both analyzed daily using SEC EDGAR data across 13 institutional models.

OESX

Electrical Equipment & Parts
Orion Energy Systems, Inc.
Quality
6.1
out of 10
Value Trap
24
SAFE
Price
$9.48
Last close
Models
12/13
Active
VS

PLUG

Electrical Equipment & Parts
Plug Power, Inc.
Quality
5.9
out of 10
Value Trap
33
LOW
Price
$4.09
Last close
Models
12/13
Active
OESX
2 models active
Limited to 2/13 visible models
PLUG
2 models active
Limited to 2/13 visible models

OESX vs PLUG — Fair Value Comparison

OESX
$0$4$7$11 Price$9.48 Bayesian …$0.82 (-91.7%) Earnings …$0.61 (-93.5%)
PLUG
$0$2$3$5 Price$4.09 Bayesian …$1.07 (-73.8%) Earnings …$1.38 (-56.1%)
Market Price Model 1 Model 2

Model-by-Model Comparison

ModelType OESX Fair ValueOESX Upside PLUG Fair ValuePLUG Upside
Bayesian DCF Intrinsic $0.82 -91.7% $1.07 -73.8%
Earnings Power Value Intrinsic $0.61 -93.5% $1.38 -56.1%
EROIC Spread Intrinsic $•••.•• ••.•% $•••.•• ••.•%
First Chicago Scenario $•••.•• ••.•% $•••.•• ••.•%
Markov DDM Intrinsic $•••.•• ••.•% $•••.•• ••.•%
ML-RIV Intrinsic $•••.•• ••.•% $•••.•• ••.•%
Dynamic NAV Asset-Based $•••.•• ••.•% $•••.•• ••.•%
PWERM Option-Based $•••.•• ••.•% $•••.•• ••.•%
Regime Cross-Sectional Relative $•••.•• ••.•% $•••.•• ••.•%
Sentiment SOTP Hybrid $•••.•• ••.•% $•••.•• ••.•%
CUCE Ensemble Ensemble $•••.•• ••.•% $•••.•• ••.•%
FTNN Topology Relative $•••.•• ••.•% $•••.•• ••.•%
RCMH-DCF Intrinsic $•••.•• ••.•% $•••.•• ••.•%

OESX vs PLUG — Which Stock Is More Undervalued in 2026?

OESX scores higher with a 6.1/10 quality rating vs PLUG's 5.9/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

How Do OESX and PLUG Valuations Compare?

At $9.48, OESX trades +91.7% above its Bayesian DCF fair value of $0.82, while PLUG at $4.09 trades +73.8% above its estimate of $1.07. OESX shows a wider gap between price and intrinsic value.

Quality of Company: OESX vs PLUG

OESX earns a Quality of Company score of 6.1/10 compared to PLUG's 5.9/10. The scores are closely matched, indicating similar fundamental quality profiles. The QOC score synthesizes 32 signals spanning profitability margins, revenue growth, free cash flow, capital allocation, and leverage.

Value Trap Risk: OESX vs PLUG

OESX carries a SAFE value trap risk (24/100) while PLUG shows LOW risk (33/100). Both companies show manageable value trap risk, suggesting their current valuations are not artificially depressed by fundamental deterioration.

Both in Electrical Equipment & Parts

Both OESX and PLUG operate in Electrical Equipment & Parts, which has 46 stocks tracked by CirclFi. Same-industry comparisons provide the most direct insight into relative valuation since both companies face similar regulatory environments, market dynamics, and competitive pressures. Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN), and ensemble methods (CUCE).

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