Plug Power's revenue growth has decelerated to 2.5% in Q2 2026, while gross margins remain deeply negative at -0.9%, indicating the company still subsidizes hydrogen costs. The balance sheet is strained, with equity falling 80% from $2.9B in Q1 2024 to $581.8M in Q2 2026, and debt-to-equity rising to 1.40.
Price trend, volume and key moving averages
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 10, 2026 | -$0.14-80.1% vs -$0.08 | $178M+5.4% vs $169M |
Q2 2026 May 11, 2026 | -$0.18-100.0% vs -$0.09 | $164M+16.9% vs $140M |
Q2 2026 Mar 2, 2026 | -$0.63-530.0% vs -$0.10 | $225M+3.6% vs $217M |
Q4 2025 Nov 10, 2025 | -$0.31-138.5% vs -$0.13 | $177M+0.4% vs $176M |
Fuel cell stocks are clawing back part of their post-election losses, and FuelCell Energy (NASDAQ:FCEL) is leading the bounce. FuelCell stock is at $9.49, up 6% in early trading.
PLUG heads into Q3 earnings with revenue growth expectations and a four-quarter earnings beat streak, but rising costs and currency headwinds pose challenges.
Fuel cell stocks are extending their post-election slide, and a major customer win isn't enough to protect the group's biggest name. FuelCell Energy (NASDAQ:FCEL) stock is at $8.77, down 17% in afternoon trading.
Evaluate the expected performance of Plug Power (PLUG) for the quarter ended September 2026, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
Benchmark PLUG against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Plug Power Inc. (PLUG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1.45 | $2.02B | -1.23 | 12.9% | -220.59% | -169.95% | — | |
| $173.24 | $51.02B | 108.39 | 37.33% | 13.53% | 38.79% | 0% | |
| $9.96 | $527.66M | -3.99 | 41.05% | -113.94% | -21.91% | 1.25% | |
| $1.54 | $464.27M | -6.05 | 45.04% | -72.66% | -13.16% | — | |
| $2.99 | $533.2M | -10.23 | 130.28% | -564.35% | -27.94% | — | |
| $1.31 | $2.37M | -0.96 | 762.68% | — | — | — |
Plug Power Inc. (PLUG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Plug Power Inc. (PLUG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 10, 2026·SEC
Jul 13, 2026·SEC
Jun 15, 2026·SEC
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Plug Power Inc. (PLUG) stock FAQ — growth, dividends, profitability & financials explained
Plug Power Inc. (PLUG) reported $744.1M in revenue over the trailing twelve months. Revenue was $709.9M in fiscal year 2025. That is 10822% more than the $6.5M of fiscal year 1998.
Plug Power Inc. (PLUG) grew revenue by 10.6% over the trailing twelve months, compared with the twelve months before.
No. Plug Power Inc. (PLUG) reported a net loss of $1.64B over the trailing twelve months.
Plug Power Inc. (PLUG) had a return on equity (ROE) of -170.0% over the trailing twelve months. A negative ROE means the company lost money over the period.
Plug Power Inc. (PLUG) had negative free cash flow of $536.1M over the trailing twelve months.
