The Evaluation of the Situation in the Hydrogen Market

Abstract

The thesis aims to evaluate the situation in the hydrogen market, focusing on companies that are only operating in the hydrogen sector. The main research question is supported by sub questions to present the reader with a more detailed result. The methods used within the thesis is a financial analysis of Linde PLC, Royal Dutch Plc, Fuel Cell Energy Inc and Plug Power Inc. Hereby, the financial report of the companies from 2017- 2020 serves as a basis for the analyzation. As a result, it was found out that it is hard to detect an eventual bubble within the sector. It can be stated that there is an existence of a growth premium. Furthermore, the investor's behavior also indicates that the industry is overvalued.