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May 11, 2026·SEC
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Plug Power Inc.(PLUG)Earnings, Financials & Key Ratios
PLUG•NASDAQ
Price updated Jun 19, 2026
AboutPlug Power Inc. delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications. The company provides proton exchange membrane (PEM), fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure. The company offers GenDrive, a hydrogen-fueled PEM fuel cell system that provides power to material handling electric vehicles; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors. It also provides GenKey, an integrated turn-key solution for transitioning to fuel cell power; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; and GenFuel Electrolyzers that are hydrogen generators optimized for clean hydrogen production. The company sells its products through a direct product sales force, original equipment manufacturers, and dealer networks. It has strategic agreements with Airbus; Lhyfe; Edison Motors; Phillips 66; Apex Clean Energy; BAE Systems; and Universal Hydrogen Co. The company was founded in 1997 and is headquartered in Latham, New York.Show more
- Revenue$710M+12.9%
- EBITDA-$635M+67.2%
- Net Income-$1.63B+22.5%
- EPS (Diluted)-1.41+42.4%
- Gross Margin-34.09%+65.7%
- EBITDA Margin-89.45%+70.9%
- Operating Margin-95.73%+70.2%
- Net Margin-229.83%+31.3%
- ROE-116.08%-29.8%
PLUG Key Insights
Plug Power Inc. (PLUG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗Profits declining 22.3% over 5 years
- ✗Negative free cash flow
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Shares diluted 35.0% in last year
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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PLUG Price & Volume
Plug Power Inc. (PLUG) stock price & volume — 10-year historical chart
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PLUG Growth Metrics
Plug Power Inc. (PLUG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years21.26%
5 Years-
3 Years0.4%
TTM15.19%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM16.22%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM37.72%
Return on Capital
10 Years-34.43%
5 Years-28.63%
3 Years-39.07%
Last Year-28.09%
PLUG Recent Earnings
Plug Power Inc. (PLUG) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 11, 2026Metric
Actual
Est
EPS
$0.08+11.1%
$0.09
Rev
$164M+16.9%
$140M
Q2 2026
Mar 2, 2026Metric
Actual
Est
EPS
$0.06+40.0%
$0.10
Rev
$225M+3.6%
$217M
Q4 2025
Nov 10, 2025Metric
Actual
Est
EPS
$0.12+7.7%
$0.13
Rev
$177M-18.6%
$217M
Q3 2025
Aug 11, 2025Metric
Actual
Est
EPS
$0.16-6.7%
$0.15
Rev
$174M-13.4%
$201M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 11, 2026 | $0.08vs $0.09+11.1% | $164Mvs $140M+16.9% |
| Q2 2026 | Mar 2, 2026 | $0.06vs $0.10+40.0% | $225Mvs $217M+3.6% |
| Q4 2025 | Nov 10, 2025 | $0.12vs $0.13+7.7% | $177Mvs $217M-18.6% |
| Q3 2025 | Aug 11, 2025 | $0.16vs $0.15-6.7% | $174Mvs $201M-13.4% |
Based on last 12 quarters of dataView full earnings history →
PLUG Peer Comparison
Plug Power Inc. (PLUG) competitors in Hydrogen and Fuel Cell Systems — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 BE | 79.07B | 328.91 | -888.95 | 37.33% | 0.25% | 0.79% | 3.77 | |
 FCEL | 1.27B | 24.04 | -3.24 | 41.05% | -132.72% | -31.29% | 0.20 | |
 BLDP | 1.31B | 4.37 | -14.57 | 45.04% | -91.49% | -14.63% | 0.04 | |
 HYLN | 1.44B | 8.10 | -24.55 | 130.28% | -8.88% | -26.05% | 0.02 | |
 HTOO | 5.18M | 2.86 | -2.04 | 7.63% | -6.57% | -298.09% | 0.11 | |
 ITW | 76.11B | 264.09 | 25.18 | 0.92% | 19.32% | 97.35% | 2.78 | |
 CLNE | 409.62M | 1.86 | -1.84 | 2.56% | -22.65% | -17.17% | 0.18 | |
 APD | 62.39B | 280.21 | -158.31 | -0.52% | 16.91% | 11.85% | 1.06 |
Compare PLUG vs Peers
Plug Power Inc. (PLUG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PLUG Income Statement
Plug Power Inc. (PLUG) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 132.93M | 174.63M | 229.97M | -93.24M | 502.34M | 701.44M | 891.34M | 628.81M | 709.92M | 739.76M |
Revenue Growth % | 54.7% | 31.37% | 31.69% | -140.54% | 638.78% | 39.63% | 27.07% | -29.45% | 12.9% | 15.19% |
Cost of Goods Sold | 131.35M | 172.01M | 219.72M | 376.18M | 673.65M | 895.8M | 1.4B | 1.25B | 951.96M | 929.54M |
COGS % of Revenue | 98.81% | 98.5% | 95.54% | -403.47% | 134.1% | 127.71% | 156.97% | 199.38% | 134.09% | - |
Gross Profit | 1.58M▲ 0% | 2.62M▲ 66.2% | 10.25M▲ 291.1% | -469.42M▼ 4677.9% | -171.31M▲ 63.5% | -194.36M▼ 13.5% | -507.79M▼ 161.3% | -624.89M▼ 23.1% | -242.04M▲ 61.3% | -189.79M▲ 0% |
Gross Margin % | 1.19% | 1.5% | 4.46% | 503.47% | -34.1% | -27.71% | -56.97% | -99.38% | -34.09% | -25.66% |
Gross Profit Growth % | -60.01% | 66.16% | 291.08% | -4677.88% | 63.51% | -13.45% | -161.27% | -23.06% | 61.27% | - |
Operating Expenses | 103.37M | 72.11M | 57.87M | 114.79M | 266.01M | 485.19M | 835.73M | 1.39B | 437.53M | 421.65M |
OpEx % of Revenue | 77.76% | 41.29% | 25.16% | -123.11% | 52.95% | 69.17% | 93.76% | 221.84% | 61.63% | - |
Selling, General & Admin | 45.01M | 38.2M | 0 | 79.35M | 179.85M | 363.93M | 422.47M | 376.11M | 379.57M | 368.94M |
SG&A % of Revenue | 33.86% | 21.87% | - | -85.1% | 35.8% | 51.88% | 47.4% | 59.81% | 53.47% | - |
Research & Development | 28.69M | 33.91M | 15.26M | 27.85M | 64.76M | 99.58M | 113.75M | 77.23M | 57.96M | 52.72M |
R&D % of Revenue | 21.59% | 19.42% | 6.64% | -29.87% | 12.89% | 14.2% | 12.76% | 12.28% | 8.16% | - |
Other Operating Expenses | -15.19M | 0 | 42.61M | 7.59M | 21.4M | 21.69M | 299.52M | 941.62M | 0 | 1 |
Operating Income | -101.79M▲ 0% | -69.48M▲ 31.7% | -47.61M▲ 31.5% | -584.2M▼ 1127.0% | -437.32M▲ 25.1% | -679.55M▼ 55.4% | -1.34B▼ 97.7% | -2.02B▼ 50.3% | -679.57M▲ 66.4% | -611.44M▲ 0% |
Operating Margin % | -76.58% | -39.79% | -20.7% | 626.58% | -87.06% | -96.88% | -150.73% | -321.21% | -95.73% | -82.65% |
Operating Income Growth % | -97.58% | 31.74% | 31.48% | -1126.98% | 25.14% | -55.39% | -97.71% | -50.34% | 66.36% | - |
EBITDA | -92.01M | -57.78M | -34.98M | -568.63M | -413.95M | -627.95M | -1.27B | -1.94B | -635.01M | -573.81M |
EBITDA Margin % | -69.22% | -33.08% | -15.21% | 609.88% | -82.41% | -89.52% | -142.76% | -307.77% | -89.45% | -77.57% |
EBITDA Growth % | -98.81% | 37.21% | 39.46% | -1525.73% | 27.2% | -51.7% | -102.63% | -52.09% | 67.19% | 69.15% |
D&A (Non-Cash Add-back) | 9.78M | 11.71M | 12.64M | 15.57M | 23.37M | 51.6M | 71.08M | 84.56M | 44.56M | 37.63M |
EBIT | -116.98M | -72.15M | -47.61M | -566.49M | -432.94M | -684.13M | -1.33B | -2.06B | -679.57M | -611.44M |
Net Interest Income | -10.1M | -22.75M | -35.69M | -59.74M | -39.19M | -1.78M | 10.63M | -15.9M | -45.7M | -52.87M |
Interest Income | 0 | 0 | - | 765K | 4.04M | 37.26M | 55.83M | 30.72M | 19.43M | 18.12M |
Interest Expense | 10.1M | 22.75M | 35.69M | 60.51M | 43.23M | 39.04M | 45.2M | 46.62M | 65.13M | 70.99M |
Other Income/Expense | -25.29M | -17.85M | -36.13M | -42.8M | -38.84M | -43.62M | -32.67M | -87.75M | -1.01B | -1.13B |
Pretax Income | -127.08M▲ 0% | -87.33M▲ 31.3% | -83.74M▲ 4.1% | -627M▼ 648.7% | -476.16M▲ 24.1% | -723.17M▼ 51.9% | -1.38B▼ 90.3% | -2.11B▼ 53.1% | -1.69B▲ 19.7% | -1.74B▲ 0% |
Pretax Margin % | -95.6% | -50.01% | -36.41% | 672.48% | -94.79% | -103.1% | -154.4% | -335.17% | -238.52% | -235.54% |
Income Tax | -392K | -9.22M | 0 | -30.84M | -16.2M | 839K | -7.36M | -2.69M | 356K | 397K |
Effective Tax Rate % | 0.31% | 10.55% | 0% | 4.92% | 3.4% | -0.12% | 0.54% | 0.13% | -0.02% | -0.02% |
Net Income | -127.08M▲ 0% | -78.11M▲ 38.5% | -83.74M▼ 7.2% | -596.15M▼ 611.9% | -459.96M▲ 22.8% | -724.01M▼ 57.4% | -1.37B▼ 89.1% | -2.1B▼ 53.8% | -1.63B▲ 22.5% | -1.68B▲ 0% |
Net Margin % | -95.6% | -44.73% | -36.41% | 639.4% | -91.56% | -103.22% | -153.57% | -334.71% | -229.83% | -227.13% |
Net Income Growth % | -121.06% | 38.53% | -7.2% | -611.89% | 22.84% | -57.4% | -89.06% | -53.76% | 22.48% | 16.22% |
Net Income (Continuing) | -127.08M | -78.11M | -83.74M | -596.15M | -459.96M | -724.01M | -1.37B | -2.1B | -1.69B | -1.74B |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 73.62M | 25.25M | 24.08M |
EPS (Diluted) | -0.59▲ 0% | -0.36▲ 39.0% | -0.51▼ 41.7% | -1.58▼ 209.8% | -0.82▲ 48.1% | -1.25▼ 52.4% | -2.30▼ 84.0% | -2.45▼ 6.5% | -1.41▲ 42.4% | -1.21▲ 0% |
EPS Growth % | -84.38% | 38.98% | -41.67% | -209.8% | 48.1% | -52.44% | -84% | -6.52% | 42.45% | 37.72% |
EPS (Basic) | -0.59 | -0.36 | -0.51 | -1.58 | -0.82 | -1.25 | -2.30 | -2.45 | -1.41 | - |
Diluted Shares Outstanding | 216.34M | 218.88M | 237.15M | 354.79M | 558.18M | 579.72M | 595.47M | 858.44M | 1.16B | 1.39B |
Basic Shares Outstanding | 216.34M | 218.88M | 237.15M | 354.79M | 558.18M | 579.72M | 595.47M | 858.44M | 1.16B | 1.39B |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
PLUG Balance Sheet
Plug Power Inc. (PLUG) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 119.61M | 155.62M | 394.92M | 778.28M | 4.45B | 3.31B | 1.79B | 1.48B | 1.41B | 1.27B |
Cash & Short-Term Investments | 24.83M | 38.6M | 152.49M | 448.14M | 3.87B | 2.16B | 135.03M | 205.69M | 555.29M | 223.19M |
Cash Only | 24.83M | 38.6M | 152.49M | 448.14M | 2.48B | 690.63M | 135.03M | 205.69M | 555.29M | 223.19M |
Short-Term Investments | 0 | 0 | 0 | 0 | 1.39B | 1.47B | 0 | 0 | 0 | 0 |
Accounts Receivable | 24.18M | 37.35M | 45.78M | 113.5M | 131.31M | 191.91M | 370.06M | 251.3M | 240.03M | 130.82M |
Days Sales Outstanding | 66.39 | 78.06 | 72.66 | -444.34 | 95.41 | 99.86 | 151.54 | 145.87 | 123.41 | 98.72 |
Inventory | 48.78M | 47.91M | 114.57M | 134.2M | 269.16M | 645.64M | 961.25M | 682.64M | 520.97M | 516.15M |
Days Inventory Outstanding | 135.54 | 101.66 | 190.33 | 130.21 | 145.84 | 263.07 | 250.77 | 198.74 | 199.75 | 219.51 |
Other Current Assets | 13.9M | 17.4M | 50.63M | 55.7M | 118.63M | 161.96M | 216.55M | 337.85M | 93.99M | 404.62M |
Total Non-Current Assets | 151.2M | 234.71M | 503.8M | 577.81M | 1.5B | 2.46B | 3.12B | 2.13B | 1.18B | 1.09B |
Property, Plant & Equipment | 97.48M | 159.62M | 202.62M | 229.23M | 573.56M | 1.22B | 2B | 1.28B | 630.99M | 449.76M |
Fixed Asset Turnover | 1.36x | 1.09x | 1.13x | -0.41x | 0.88x | 0.57x | 0.44x | 0.49x | 1.13x | 0.81x |
Goodwill | 9.45M | 9.02M | 70.26M | 71.82M | 220.44M | 248.61M | 0 | 0 | 0 | 0 |
Intangible Assets | 3.79M | 3.89M | 38.97M | 39.57M | 158.21M | 207.72M | 188.89M | 84.66M | 29.23M | 28.23M |
Long-Term Investments | 0 | 0 | 0 | 1M | 12.89M | 31.25M | 63.78M | 85.49M | 485.61M | 620.67M |
Other Non-Current Assets | 40.49M | 62.18M | 191.94M | 236.19M | 536.46M | 748.28M | 858.42M | 674.9M | 38.48M | 569.8M |
Total Assets | 270.81M▲ 0% | 390.33M▲ 44.1% | 898.72M▲ 130.2% | 1.36B▲ 50.9% | 5.95B▲ 338.8% | 5.76B▼ 3.1% | 4.9B▼ 14.9% | 3.6B▼ 26.5% | 2.59B▼ 28.0% | 2.37B▲ 0% |
Asset Turnover | 0.49x | 0.45x | 0.26x | -0.07x | 0.08x | 0.12x | 0.18x | 0.17x | 0.27x | 0.26x |
Asset Growth % | 12.45% | 44.13% | 130.25% | 50.89% | 338.77% | -3.12% | -14.95% | -26.51% | -27.99% | -126.93% |
Total Current Liabilities | 115.72M | 146.37M | 187.57M | 252.21M | 420.55M | 635.27M | 964.8M | 748.49M | 610.59M | 540.71M |
Accounts Payable | 42.36M | 34.82M | 39.81M | 58.79M | 129.01M | 191.9M | 257.83M | 220.77M | 168.74M | 144.25M |
Days Payables Outstanding | 117.72 | 73.9 | 66.14 | 57.05 | 69.9 | 78.19 | 67.26 | 64.28 | 64.7 | 61.58 |
Short-Term Debt | 53.27M | 16.8M | 50.93M | 74.83M | 15.25M | 5.14M | 159.88M | 59.22M | 160.71M | 142.59M |
Deferred Revenue (Current) | 8.63M | 12.05M | 14.9M | 17.23M | 116.38M | 131.81M | 204.14M | 144.09M | 66.74M | 330.49M |
Other Current Liabilities | 9.99M | 6.27M | 19.42M | 21.08M | 0 | 53.9M | 153.21M | 0 | 155.49M | 185.36M |
Current Ratio | 1.03x | 1.06x | 2.11x | 3.09x | 10.58x | 5.20x | 1.85x | 1.97x | 2.31x | 2.36x |
Quick Ratio | 0.61x | 0.74x | 1.49x | 2.55x | 9.94x | 4.19x | 0.86x | 1.06x | 1.46x | 1.40x |
Cash Conversion Cycle | 84.21 | 105.83 | 196.85 | -371.18 | 171.35 | 284.74 | 335.04 | 280.33 | 258.46 | 256.65 |
Total Non-Current Liabilities | 81.44M | 241.24M | 476.58M | 517.62M | 923.83M | 1.07B | 1.04B | 1.05B | 980.67M | 1.05B |
Long-Term Debt | 50.44M | 63.38M | 244.73M | 225.47M | 305.43M | 197.84M | 196.47M | 322.99M | 432.32M | 504.03M |
Capital Lease Obligations | 0 | 118.08M | 192.53M | 217.47M | 411.89M | 579.81M | 612.5M | 529.24M | 404.14M | 1.69B |
Deferred Tax Liabilities | 5.1M | 31.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 5.19M | 123K | 14.48M | 45.17M | 139.8M | 193.05M | 146.68M | 135.83M | 110M | 156.39M |
Total Liabilities | 197.16M | 387.61M | 664.16M | 769.83M | 1.34B | 1.7B | 2B | 1.8B | 1.59B | 1.59B |
Total Debt | 103.71M | 272.52M | 526.79M | 560.1M | 810.15M | 898.73M | 1.13B | 1.08B | 997.17M | 1.01B |
Net Debt | 78.88M | 233.92M | 374.29M | 111.96M | -1.67B | 208.1M | 990.98M | 872.94M | 441.89M | 786.98M |
Debt / Equity | 1.41x | 100.45x | 2.25x | 0.96x | 0.18x | 0.22x | 0.39x | 0.60x | 0.99x | 1.31x |
Debt / EBITDA | - | - | - | - | - | - | - | - | - | -1.76x |
Net Debt / EBITDA | - | - | - | - | - | - | - | - | - | -1.37x |
Interest Coverage | -11.58x | -3.17x | -1.33x | -9.36x | -10.02x | -17.53x | -29.45x | -44.21x | -10.43x | -8.61x |
Total Equity | 73.65M▲ 0% | 2.71M▼ 96.3% | 234.56M▲ 8545.8% | 586.26M▲ 149.9% | 4.61B▲ 685.6% | 4.06B▼ 11.8% | 2.9B▼ 28.6% | 1.81B▼ 37.6% | 1B▼ 44.5% | 773.89M▲ 0% |
Equity Growth % | -13.45% | -96.32% | 8545.78% | 149.94% | 685.6% | -11.84% | -28.62% | -37.62% | -44.5% | -195.96% |
Book Value per Share | 0.34 | 0.01 | 0.99 | 1.65 | 8.25 | 7.00 | 4.87 | 2.11 | 0.87 | 0.56 |
Total Shareholders' Equity | 73.65M | 2.71M | 234.56M | 586.26M | 4.61B | 4.06B | 2.9B | 1.73B | 978.07M | 749.81M |
Common Stock | 2.29M | 2.34M | 3.48M | 4.06M | 5.95M | 6.08M | 6.25M | 9.34M | 13.94M | 13.96M |
Retained Earnings | -1.18B | -1.26B | -1.4B | -1.46B | -2.4B | -3.12B | -4.49B | -6.59B | -8.23B | -8.47B |
Treasury Stock | -3.1M | -30.64M | -31.36M | -40.43M | -72.53M | -96.26M | -106.27M | -108.8M | -2.94M | -2.98M |
Accumulated OCI | 2.19M | 1.58M | 1.16M | 1.85M | -1.53M | -26M | -6.8M | -2.5M | 6.8M | 3.44M |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 73.62M | 25.25M | 24.08M |
PLUG Cash Flow Statement
Plug Power Inc. (PLUG) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -60.18M | -58.35M | -53.32M | -155.48M | -358.18M | -620.83M | -1.11B | -728.64M | -535.84M | -580.31M |
Operating CF Margin % | -45.27% | -33.41% | -23.19% | 166.75% | -71.3% | -88.51% | -124.15% | -115.88% | -75.48% | - |
Operating CF Growth % | -103.07% | 3.04% | 8.61% | -191.57% | -130.37% | -73.33% | -78.24% | 34.15% | 26.46% | 17.98% |
Net Income | -127.08M | -78.11M | -83.74M | -596.15M | -459.96M | -724.01M | -1.37B | -2.1B | -1.63B | -1.68B |
Depreciation & Amortization | 9.78M | 11.71M | 12.64M | 15.57M | 23.37M | 51.6M | 71.08M | 84.56M | 44.56M | -6.92M |
Stock-Based Compensation | 9.21M | 8.77M | 10.89M | 17.14M | 76.47M | 0 | 162.91M | 82.2M | 34.23M | 23.14M |
Deferred Taxes | 51.55M | -9.22M | 0 | -30.84M | -16.2M | 170K | -8.53M | -3.15M | 10K | 0 |
Other Non-Cash Items | 770K | 13.88M | 16.51M | 463.52M | 94.14M | 241.21M | 578.81M | 1.21B | 1.04B | -416.88M |
Working Capital Changes | -4.41M | -4.64M | -9.62M | -24.7M | -75.99M | -189.8M | -542M | 2.79M | -27.99M | -131.2M |
Change in Receivables | -3.41M | -17.76M | 10.59M | -15.7M | -38.21M | -70.44M | -163.03M | 55.16M | -47.37M | -32.78M |
Change in Inventory | -18.84M | 19.04M | -24.63M | -63.39M | -100.95M | -363.71M | -408.63M | 129.29M | 51.89M | 63.39M |
Change in Payables | 11.43M | -10.27M | 17.23M | 51.88M | 24.91M | 88.46M | 21.72M | -59.46M | 83.68M | -7.24M |
Cash from Investing | -44.36M | -19.57M | -14.24M | -95.33M | -1.74B | -679.37M | 728.05M | -402.36M | -137.23M | -100.36M |
Capital Expenditures | -44.36M | -19.57M | -14.62M | -48.26M | -192.34M | -463.87M | -696.13M | -334.25M | -125.64M | 29.94M |
CapEx % of Revenue | 33.37% | 11.21% | 6.36% | -51.76% | 38.29% | 66.13% | 78.1% | 53.16% | 17.7% | 4.05% |
Acquisitions | 0 | 0 | 375K | -45.11M | -154.12M | -56.91M | 0 | -68.62M | 0 | -830K |
Investments | - | - | - | - | - | - | - | - | - | - |
Other Investing | 0 | -929K | 0 | -1.96M | -928K | 0 | -71.5M | 500K | -11.59M | -129.47M |
Cash from Financing | 71.62M | 120.08M | 326.97M | 1.52B | 3.6B | -77.46M | 6.12M | 983.17M | 628.17M | 404.42M |
Debt Issued (Net) | 34.59M | 124.58M | 157.37M | 203.89M | 20.61M | -53.36M | 24.62M | 136.8M | -282.08M | -34.95M |
Equity Issued (Net) | 36.93M | 38.13M | 169.61M | 1.27B | 3.59B | 2.3M | -10.01M | 857.87M | 720.66M | 444.69M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | -3.7M | -43.5M | -4.04M | 0 | 0 | 0 | -10.01M | 0 | 0 | 0 |
Other Financing | 97K | -43.36M | 0 | 39.93M | -10.67M | -26.4M | -8.49M | -11.5M | 189.59M | -5.31M |
Net Change in Cash | -32.58M▲ 0% | 42.1M▲ 229.2% | 100.89M▲ 139.7% | 1.26B▲ 1153.6% | 1.5B▲ 18.4% | -1.79B▼ 219.5% | -380.2M▲ 78.8% | -128.44M▲ 66.2% | 151.59M▲ 218.0% | -175.87M▲ 0% |
Free Cash Flow | -104.55M▲ 0% | -77.19M▲ 26.2% | -65.54M▲ 15.1% | -205.7M▼ 213.9% | -551.44M▼ 168.1% | -1.08B▼ 96.7% | -1.8B▼ 66.2% | -1.06B▲ 41.0% | -661.48M▲ 37.8% | -666.2M▲ 0% |
FCF Margin % | -78.65% | -44.2% | -28.5% | 220.62% | -109.77% | -154.64% | -202.25% | -169.03% | -93.18% | -90.06% |
FCF Growth % | -19.19% | 26.17% | 15.09% | -213.85% | -168.08% | -96.7% | -66.19% | 41.04% | 37.77% | 29.31% |
FCF per Share | -0.48 | -0.35 | -0.28 | -0.58 | -0.99 | -1.87 | -3.03 | -1.24 | -0.57 | -0.48 |
FCF Conversion (FCF/Net Income) | 0.47x | 0.75x | 0.64x | 0.26x | 0.78x | 0.86x | 0.81x | 0.35x | 0.33x | 0.40x |
Interest Paid | 0 | 0 | 0 | 28.94M | 19.33M | 0 | 0 | 44.96M | 0 | 9.31M |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PLUG Key Ratios
Plug Power Inc. (PLUG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -160.12% | -204.6% | -70.59% | -145.26% | -17.72% | -16.71% | -39.34% | -89.45% | -116.08% | -133.36% |
Return on Invested Capital (ROIC) | -58.74% | -26.78% | -8.45% | -67.04% | -18.06% | -14.15% | -24.7% | -46.12% | -24.71% | -23.09% |
Gross Margin | 1.19% | 1.5% | 4.46% | 503.47% | -34.1% | -27.71% | -56.97% | -99.38% | -34.09% | -25.66% |
Net Margin | -95.6% | -44.73% | -36.41% | 639.4% | -91.56% | -103.22% | -153.57% | -334.71% | -229.83% | -227.13% |
Debt / Equity | 1.41x | 100.45x | 2.25x | 0.96x | 0.18x | 0.22x | 0.39x | 0.60x | 0.99x | 1.31x |
Interest Coverage | -11.58x | -3.17x | -1.33x | -9.36x | -10.02x | -17.53x | -29.45x | -44.21x | -10.43x | -8.61x |
FCF Conversion | 0.47x | 0.75x | 0.64x | 0.26x | 0.78x | 0.86x | 0.81x | 0.35x | 0.33x | 0.40x |
Revenue Growth | 54.7% | 31.37% | 31.69% | -140.54% | 638.78% | 39.63% | 27.07% | -29.45% | 12.9% | 15.19% |
Related:PLUG Dividend History·PLUG Revenue History·PLUG Price History·PLUG P/E History·PLUG Financial Ratios·PLUG Institutional Holders
PLUG SEC Filings & Documents
Plug Power Inc. (PLUG) SEC filings — annual & quarterly reports (10-K, 10-Q)
PLUG Frequently Asked Questions
Plug Power Inc. (PLUG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Plug Power Inc. (PLUG) reported $739.8M in revenue for fiscal year 2025. This represents a 11281% increase from $6.5M in 1998.
Plug Power Inc. (PLUG) grew revenue by 12.9% over the past year. This is steady growth.
Plug Power Inc. (PLUG) reported a net loss of $1.68B for fiscal year 2025.
Dividend & Returns
Plug Power Inc. (PLUG) has a return on equity (ROE) of -116.1%. Negative ROE indicates the company is unprofitable.
Plug Power Inc. (PLUG) had negative free cash flow of $666.2M in fiscal year 2025, likely due to heavy capital investments.