Companies / PLUG Plug Power Inc (PLUG)
Plug Power Inc. designs, develops, and sells hydrogen products and solutions in Europe, Australia, North America, and internationally. The company offers GenDrive, a hydrogen fueled PEM fuel cell system, which powers material handling EVs, including Class 1, 2, 3 and 6 electric forklifts, automated guided vehicles, and ground support equipment; GenFuel, a liquid hydrogen fueling, delivery, generation, storage, and dispensing system; and GenCare, an Internet of Things based maintenance and on-site service program. It also provides GenKey, a turn-key solution; GenEco electrolyzers for clean hydrogen production; liquefaction systems; cryogenic equipment, such as trailers and mobile storage equipment for the distribution of liquified hydrogen, oxygen, argon, nitrogen, and other cryogenic gases; GenSure, a stationary fuel cell solution; and liquid hydrogen. The company serves customers in material handling operations, fuel cell electric vehicle fleets, and stationary power applications through its direct sales force, original equipment manufacturers, and dealer networks. Plug Power Inc. was incorporated in 1997 and is based in Slingerlands, New York.
Ticker PLUG Exchange Nasdaq Sector Industrials Industry Electrical Equipment & Parts Market cap $2.02B 52-week range $1.30 - $4.33 Valuation Share price $1.45 (close of Nov 6, 2026) P/E (TTM) -1.16x Price to book 3.43x Price to free cash flow -3.85x Enterprise value $2.89B Book value per share $0.42 Price performance Period Change 1 day +7.41% 5 days +5.84% 1 month -22.04% 3 months -29.95% 6 months -56.19% Year to date -26.40% 1 year -42.23% 3 years -76.84% 5 years -96.22% 10 years +2.11% All time -99.09%
Short interest As of Oct 15, 2026 Short % of float 23.54% Shares short 291.96M Days to cover 5.73 Change since prior report +2.58% Source FINRA consolidated short interest Profitability and growth Return on equity -162.62% Return on invested capital -73.35% Return on assets -62.88% Return on capital employed -73.96% Gross margin -34.09% Net margin -229.83% EBITDA margin -200.42% Revenue growth 12.90% Cash flow and balance sheet Free cash flow yield (TTM) -25.94% Current ratio 2.32x Net debt to EBITDA -0.55x Latest reported year Period end Dec 31, 2025 Fiscal year 2025 Revenue $709.92M Cost of revenue $951.96M Gross profit -$242.04M EBITDA -$1.42B Net income -$1.63B Earnings per share $-1.42 Research and development $57.96M Interest expense $65.13M Shares outstanding 1.15B Income statement by year Period end Revenue Gross profit Net income EPS 2025-12-31 $709.92M -$242.04M -$1.63B -$1.42 2024-12-31 $628.81M -$624.89M -$2.10B -$2.68 2023-12-31 $891.34M -$507.79M -$1.37B -$2.30 2022-12-31 $701.44M -$194.36M -$724.01M -$1.25 2021-12-31 $502.34M -$171.31M -$459.96M -$0.82 2020-12-31 -$93.24M - -$596.15M -$1.68 2019-12-31 $229.97M $10.65M -$83.74M -$0.36 2018-12-31 $174.22M -$26.00M -$85.61M -$0.39 2017-12-31 $100.15M -$28.09M -$127.08M -$0.60 2016-12-31 $82.82M $3.95M -$57.49M -$0.32
Margins and returns by year Period end Gross margin Net margin Return on equity Return on capital 2025-12-31 -34.09% -229.83% -162.62% -73.35% 2024-12-31 -99.38% -334.71% -116.43% -69.89% 2023-12-31 -56.97% -153.57% -47.23% -34.55% 2022-12-31 -27.71% -103.22% -17.83% -13.70% 2021-12-31 -34.10% -91.56% -9.99% -8.13% 2020-12-31 - 639.40% -40.64% -29.55% 2019-12-31 4.63% -36.41% -64.47% -14.45% 2018-12-31 -14.93% -49.14% - -42.35% 2017-12-31 -28.05% -126.89% -180.95% -99.44% 2016-12-31 4.76% -69.41% -67.56% -46.96%
Cash and debt by year Period end Cash Debt 2025-12-31 $368.54M $431.01M 2024-12-31 $205.69M $321.06M 2023-12-31 $135.03M $3.90M 2022-12-31 $690.63M $9.00M 2021-12-31 $2.48B $320.63M 2020-12-31 $1.31B $261.04M 2019-12-31 $139.50M $110.43M 2018-12-31 $38.60M $133.00K 2017-12-31 $24.83M $13.37M 2016-12-31 $46.01M $20.83M
Free cash flow by year Period end Free cash flow Stock-based compensation 2025-12-31 -$647.00M $50.55M 2024-12-31 -$1.02B $82.20M 2023-12-31 -$1.77B $162.91M 2022-12-31 -$1.27B $179.63M 2021-12-31 -$530.34M $76.47M 2020-12-31 -$178.00M $17.14M 2019-12-31 -$59.01M $10.89M 2018-12-31 -$63.49M $8.77M 2017-12-31 -$64.27M $9.21M 2016-12-31 -$32.38M $9.29M
Investor relations Next earnings report Next confirmed report Nov 9, 2026 Consensus EPS estimate $-0.07 Past earnings dates Reported Fiscal period EPS estimate 2026-08-10 Jun 2026 -$0.08 2026-05-11 Mar 2026 -$0.09 2026-03-02 Dec 2025 -$0.10 2025-11-10 Sep 2025 -$0.13 2025-08-11 Jun 2025 -$0.15 2025-05-12 Mar 2025 -$0.20 2025-03-03 Dec 2024 -$0.23 2024-11-12 Sep 2024 -$0.24
Filings and sources Company website plugpower.com SEC filings 10-K, 10-Q and 8-K on EDGAR Earnings calendar All upcoming reports Similar companies Vertiv Holdings Co (VRT) · Bloom Energy Corp (BE) · Hubbell Inc (HUBB) · nVent Electric plc (NVT) · Union Pacific Corp (UNP) · CSX Corp (CSX) · Norfolk Southern Corp (NSC) · Westinghouse Air Brake Technologies Corp (WAB)
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