Plug Power Inc. (PLUG) quarterly cash flow statement — complete operating, investing & financing history
Plug Power Inc. (PLUG) cash flow statement — 28-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | -94.06M | -150.04M | -148.64M | -89.81M | -191.81M | -105.57M | -131.24M | -174.94M | -254.74M | -167.73M | -242.65M | -354.1M | -348.09M | -276.92M | -255.2M | -15.32M | -172.44M | -177.88M | -9.68M | -101.87M |
| Operating CF Margin % | -52.76% | -91.76% | -66% | -50.73% | -110.25% | -78.97% | -68.54% | -100.69% | -177.7% | -139.47% | -109.22% | -178.2% | -133.79% | -131.69% | -115.61% | -8.12% | -113.99% | -126.33% | -5.98% | -70.78% |
| Operating CF Growth % | 50.96% | -42.13% | -13.26% | 48.66% | 24.7% | 37.06% | 45.91% | 50.6% | 26.82% | 39.43% | 4.92% | -2210.61% | -101.87% | -55.68% | -2537.7% | 84.96% | -33.12% | -51.9% | -774.69% | -128.32% |
| Net Income | -190.1M | -245.3M | 789.09M | -363.5M | -228.73M | -196.86M | -1.34B | -211.17M | -262.33M | -295.78M | -642.39M | -283.48M | -236.4M | -206.56M | -223.47M | -170.76M | -173.3M | -156.49M | -192.91M | -106.67M |
| Depreciation & Amortization | 7.47M | 7.22M | 5.51M | 10.13M | 14.78M | 14.14M | 18.72M | 21.8M | 22.71M | 21.33M | 19.11M | 20.94M | 16.27M | 14.75M | 16.16M | 13.86M | 13.55M | 8.03M | 6.37M | 6.54M |
| Stock-Based Compensation | 12.95M | 0 | -2.17M | 12.24M | 13.08M | 11.09M | 18.08M | 24.11M | 26.31M | 13.7M | 33.83M | 0 | 39.92M | 43.3M | 44.64M | 46.74M | 44.86M | 43.39M | 41.66M | 14M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | -3.04M | 95K | -376K | 163K | -7.91M | -2.13M | 2.46M | -947K | -529K | 1.61M | -502K | -414K | -16.2M | 0 |
| Other Non-Cash Items | 152.06M | 141.97M | -868.81M | 195.23M | 70.17M | 16.77M | 1.09B | 25.91M | 35.89M | 54.61M | 369.62M | 121.42M | 37M | 16.51M | 35.78M | 13.6M | 8.93M | 3.27M | 88.34M | -814K |
| Working Capital Changes | -76.44M | -53.92M | -72.26M | 56.09M | -61.11M | 49.29M | 77.17M | -35.68M | -76.94M | 38.24M | -14.91M | -210.85M | -207.34M | -143.97M | -127.79M | 79.62M | -65.97M | -75.66M | 63.07M | -14.92M |
| Change in Receivables | -19.35M | 27.41M | -59.29M | 3.31M | -4.21M | 12.83M | -8.04M | 10.83M | -45.43M | 97.79M | -89.3M | 38.17M | -89.82M | 1.73M | -61.43M | -40.61M | -4.61M | 36.21M | 51.12M | -41.01M |
| Change in Inventory | 10.39M | -6.86M | 19.37M | 16.16M | 34.71M | -18.36M | 98.42M | 42.79M | 26.39M | -38.31M | 3.11M | -142.03M | -140.13M | -129.57M | -117.94M | -86.33M | -95.74M | -63.7M | -8.36M | -19.84M |
| Change in Payables | -6.05M | -43.34M | 3.03M | 84.73M | -51.66M | 47.58M | -30.28M | -13.37M | -41.57M | 25.75M | 501K | 21.94M | -14.54M | 13.82M | -24.49M | 74.29M | 63.76M | -25.1M | -4.08M | 24.95M |
| Cash from Investing | 289K | -8.18M | -21.05M | -30.39M | -40.74M | -46.57M | -43.84M | -89.87M | -148.07M | -120.58M | 267.56M | -145M | 509.69M | 95.8M | -658.72M | -286.02M | -8.55M | 273.91M | -726.6M | 390.92M |
| Capital Expenditures | -6.3M | -8.11M | 106.77M | -30.1M | -38.62M | -40.45M | -39.59M | -89.72M | -106.25M | -98.69M | -186M | -171.49M | -158.68M | -179.95M | -123.53M | -167.23M | -87.92M | -85.19M | -83.05M | -68.62M |
| CapEx % of Revenue | 3.54% | 4.96% | 47.41% | 17% | 22.2% | 30.26% | 20.68% | 51.64% | 74.12% | 82.06% | 83.72% | 86.3% | 60.99% | 85.58% | 55.96% | 88.66% | 58.12% | 60.5% | 51.3% | 47.68% |
| Acquisitions | -6.23M | 300K | -514K | -292K | -324K | -514K | -4.25M | -655K | 0 | -21.89M | -5.79M | 0 | -817K | -40.08M | -30.43M | 0 | 0 | -26.47M | -125.59M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -24.36M | -367K | -127.31M | 0 | -1.8M | -5.61M | 0 | 500K | -41.82M | 0 | 1.1M | -25.92M | -817K | -51.47M | 38.57M | -8.44M | 2.11M | -32.25M | -928K | 0 |
| Cash from Financing | -36.18M | -32.04M | 316.61M | 87.02M | 32.83M | 193.23M | 204M | 252.42M | 243.69M | 283.06M | -8.33M | -11.2M | 18.46M | 7.18M | -36.14M | -10.6M | -12.47M | -18.24M | 16.02M | -25.53M |
| Debt Issued (Net) | -20.81M | -29.77M | -10.94M | -26.95M | 32.7M | -69.95M | 147.45M | -9.97M | 20.52M | -21.21M | -6.54M | -6.81M | 26.87M | 11.1M | -35.39M | 8.24M | -11.81M | -14.4M | 16.71M | 4.59M |
| Equity Issued (Net) | 1.42M | 90K | 368.7M | 75.76M | 139K | 276.05M | 64.62M | 221.13M | 266.8M | 305.35M | 300K | 581K | -364K | -2.59M | 166K | 1.31M | 529K | 291K | 3K | 5K |
| Dividends Paid | -16.47M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -122K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -364K | -2.59M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -320K | -2.37M | -41.15M | 38.22M | -5K | -12.87M | -8.08M | 41.26M | -43.64M | -1.07M | -2.08M | -4.97M | -8.05M | -1.33M | -924K | -20.15M | -1.2M | -4.13M | -695K | -30.13M |
| Net Change in Cash | -130.49M | -148.41M | 200.13M | -27.78M | -199.81M | 35.9M | 40.51M | -18.71M | -149.18M | -1.06M | 6.65M | -468.61M | 180.02M | -176.04M | -1.06B | -508.2M | -239.66M | 14.35M | -721M | 263.63M |
| Free Cash Flow | -100.37M | -158.16M | -157.71M | -119.91M | -230.43M | -146.02M | -170.83M | -264.65M | -360.99M | -266.42M | -428.65M | -525.59M | -506.77M | -456.87M | -378.73M | -182.56M | -260.35M | -263.07M | -93.66M | -170.49M |
| FCF Margin % | -56.29% | -96.72% | -70.02% | -67.73% | -132.45% | -109.24% | -89.22% | -152.34% | -251.82% | -221.53% | -192.95% | -264.5% | -194.77% | -217.26% | -171.57% | -96.78% | -172.11% | -186.83% | -57.85% | -118.46% |
| FCF Growth % | 56.44% | -8.31% | 7.68% | 54.69% | 36.17% | 45.19% | 60.15% | 49.65% | 28.77% | 41.69% | -13.18% | -187.91% | -94.65% | -73.67% | -304.38% | -7.08% | -65.85% | -101.88% | -322.16% | -192.37% |
| FCF per Share | -0.07 | -0.11 | -0.14 | -0.10 | -0.20 | -0.15 | -0.19 | -0.31 | -0.49 | -0.42 | -0.71 | -0.88 | -0.85 | -0.78 | -0.65 | -0.32 | -0.45 | -0.46 | -0.16 | -0.30 |
| FCF Conversion (FCF/Net Income) | 0.50x | 0.61x | 0.18x | 0.25x | 0.84x | 0.54x | 0.10x | 0.83x | 0.97x | 0.57x | 0.38x | 1.25x | 1.47x | 1.34x | 1.14x | 0.09x | 1.00x | 1.14x | 0.05x | 0.95x |
| Interest Paid | 0 | 0 | 0 | 9.31M | 0 | 0 | 18.02M | 4.35M | 0 | 9.11M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8.99M | -920K |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |