Plug Power, Inc.

PLUG Industrials Electrical Equipment & Parts

Plug Power, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $709.9 million, up 12.9% from fiscal 2024.

Revenue
+2.49%
EPS
+30.0%
Free cash flow
+56.9%
Total debt
+52.6%

Quarter to June 2026, against a year earlier

1.40 0.05 +3.70%
Market cap
$1.9B
P/E
0.0×
Fwd P/E
−3.5×
Dividend yield
—
F-score
4/9
Altman Z
−4.81
Beneish M
n/a
Dividend safety
n/a

Plug Power, Inc. (PLUG) Operating margin

Alert me on Operating margin

Plug Power, Inc.'s operating margin over the twelve months to 30 June 2026 was −172.8%, up 33.9 percentage points from fiscal 2025 (−206.7%). Over the past ten years it has ranged from −321.2% (fiscal 2024) to 626.6% (fiscal 2020); the current reading is higher than 18% of that period. That is below the Electrical Equipment & Parts industry median of 0.00% and below the Industrials sector median of 5.21%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −206.7% 114.51
FY2024 −321.2% (170.48)
FY2023 −150.7% (53.85)
FY2022 −96.9% (9.82)
FY2021 −87.1% (713.64)
FY2020 626.6% 647.28
FY2019 −20.7% 23.18
FY2018 −43.9% 57.76
FY2017 −101.6% (39.43)
FY2016 −62.2% (5.09)

Quarterly newest first

Period Operating margin Change (points)
Jun 2026 −36.0% 31.00
Mar 2026 −67.0% 271.91
Dec 2025 −338.9% (141.88)
Sep 2025 −197.0% (95.28)
42 more quarters

Against its own ten years

Low −321.2% High 626.6%
Ten-year median −87.1%
Current reading's percentile 26

Operating margin against peers

Company Operating margin
HAYW Hayward Holdings, Inc. compare 21.6%
POWL Powell Industries, Inc. compare 19.7%
ENR Energizer Holdings, Inc. compare 10.6%
PLPC Preformed Line Products Company compare 10.1%
TE T1 Energy Inc compare −22.4%
AMPX Amprius Technologies, Inc. compare −37.7%
FCEL FuelCell Energy, Inc. compare −116.3%
PLUG Plug Power, Inc. −172.8%
FOIL Londian Wason New Energy Tech Inc. - Sponsored ADR compare —
Electrical Equipment & Parts industry median 0.00%
Industrials sector median 5.21%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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