Plug Power Inc (PLUG) stock
PLUGNasdaqElectrical Industrial ApparatusFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 6/3030% below fair value
$1.35−0.01 (-0.73%)
Close on Nov 11, 2026Market cap $1.89BP/E –Yield –
Plug Power gross margin
Gross margin is gross profit as a percentage of revenue.
Plug Power's gross margin for the twelve months ending Sep 30, 2026 was -3.0%. For fiscal 2025 it was -34.1%, against -99.4% the year before. The highest annual figure on record is 41.1% in fiscal 2009.
Annual gross margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | -34.1% | +65.3 |
| FY2024 | Dec 31, 2024 | -99.4% | −42.4 |
| FY2023 | Dec 31, 2023 | -57.0% | −29.3 |
| FY2022 | Dec 31, 2022 | -27.7% | +6.4 |
| FY2021 | Dec 31, 2021 | -34.1% | −38.7 |
| FY2019 | Dec 31, 2019 | 4.6% | +19.6 |
| FY2018 | Dec 31, 2018 | -14.9% | +13.1 |
| FY2017 | Dec 31, 2017 | -28.0% | −32.8 |
| FY2016 | Dec 31, 2016 | 4.8% | +14.3 |
| FY2015 | Dec 31, 2015 | -9.6% | −2.0 |
| FY2014 | Dec 31, 2014 | -7.6% | +34.7 |
| FY2013 | Dec 31, 2013 | -42.3% | −45.2 |
| FY2012 | Dec 31, 2012 | 2.9% | −15.2 |
| FY2011 | Dec 31, 2011 | 18.1% | +36.8 |
| FY2010 | Dec 31, 2010 | -18.7% | −59.7 |
| FY2009 | Dec 31, 2009 | 41.1% | – |
Quarterly gross margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | -2.7% | +65.2 |
| Q2 FY2026 | Jun 30, 2026 | -0.9% | +29.8 |
| Q1 FY2026 | Mar 31, 2026 | -13.2% | +42.0 |
| Q4 FY2025 | Dec 31, 2025 | 2.4% | +124.9 |
| Q3 FY2025 | Sep 30, 2025 | -67.9% | −10.3 |
| Q2 FY2025 | Jun 30, 2025 | -30.7% | +60.8 |
| Q1 FY2025 | Mar 31, 2025 | -55.3% | +77.0 |
| Q4 FY2024 | Dec 31, 2024 | -122.5% | −22.4 |
| Q3 FY2024 | Sep 30, 2024 | -57.6% | +11.9 |
| Q2 FY2024 | Jun 30, 2024 | -91.6% | −61.5 |
| Q1 FY2024 | Mar 31, 2024 | -132.3% | −99.3 |
| Q4 FY2023 | Dec 31, 2023 | -100.1% | −63.6 |
| Q3 FY2023 | Sep 30, 2023 | -69.4% | −45.0 |
| Q2 FY2023 | Jun 30, 2023 | -30.0% | −8.6 |
| Q1 FY2023 | Mar 31, 2023 | -33.0% | −7.9 |
| Q4 FY2022 | Dec 31, 2022 | -36.5% | +17.7 |
| Q3 FY2022 | Sep 30, 2022 | -24.4% | −2.8 |
| Q2 FY2022 | Jun 30, 2022 | -21.5% | +10.9 |
| Q1 FY2022 | Mar 31, 2022 | -25.1% | −8.2 |
| Q4 FY2021 | Dec 31, 2021 | -54.2% | −54.2 |
| Q3 FY2021 | Sep 30, 2021 | -21.6% | +2.2 |
| Q2 FY2021 | Jun 30, 2021 | -32.4% | −40.8 |
| Q1 FY2021 | Mar 31, 2021 | -16.9% | −24.5 |
| Q2 FY2020 | Jun 30, 2020 | -0.0% | −10.7 |
| Q1 FY2020 | Mar 31, 2020 | -23.8% | +12.2 |
| Q4 FY2019 | Dec 31, 2019 | 8.5% | +0.9 |
| Q3 FY2019 | Sep 30, 2019 | 7.6% | −0.7 |
| Q2 FY2019 | Jun 30, 2019 | 10.7% | +17.2 |
| Q1 FY2019 | Mar 31, 2019 | -36.0% | −20.9 |
| Q4 FY2018 | Dec 31, 2018 | 7.5% | +9.6 |
| Q3 FY2018 | Sep 30, 2018 | 8.3% | +64.4 |
| Q2 FY2018 | Jun 30, 2018 | -6.6% | +11.2 |
| Q1 FY2018 | Mar 31, 2018 | -15.1% | +15.9 |
| Q4 FY2017 | Dec 31, 2017 | -2.1% | −11.4 |
| Q3 FY2017 | Sep 30, 2017 | -56.1% | −58.3 |
| Q2 FY2017 | Jun 30, 2017 | -17.7% | – |
| Q1 FY2017 | Mar 31, 2017 | -31.0% | – |
| Q4 FY2016 | Dec 31, 2016 | 9.2% | – |
| Q3 FY2016 | Sep 30, 2016 | 2.2% | – |
See a number that looks wrong?