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 operating margin
Operating margin is operating income as a percentage of revenue.
Plug Power's operating margin for the twelve months ending Sep 30, 2026 was -131.8%. For fiscal 2025 it was -206.7%, against -321.2% the year before. The highest annual figure on record is -20.7% in fiscal 2019.
Annual operating margin
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | -206.7% | +114.5 |
| FY2024 | Dec 31, 2024 | -321.2% | −170.5 |
| FY2023 | Dec 31, 2023 | -150.7% | −53.9 |
| FY2022 | Dec 31, 2022 | -96.9% | −9.8 |
| FY2021 | Dec 31, 2021 | -87.1% | −66.4 |
| FY2019 | Dec 31, 2019 | -20.7% | +23.2 |
| FY2018 | Dec 31, 2018 | -43.9% | +57.8 |
| FY2017 | Dec 31, 2017 | -101.6% | −39.4 |
| FY2016 | Dec 31, 2016 | -62.2% | −5.1 |
| FY2015 | Dec 31, 2015 | -57.1% | +1.9 |
| FY2014 | Dec 31, 2014 | -59.1% | +49.8 |
| FY2013 | Dec 31, 2013 | -108.9% | +31.6 |
| FY2012 | Dec 31, 2012 | -140.5% | −27.8 |
| FY2011 | Dec 31, 2011 | -112.7% | +131.4 |
| FY2010 | Dec 31, 2010 | -244.1% | +91.7 |
| FY2009 | Dec 31, 2009 | -335.7% | – |
Quarterly operating margin
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change (pts) |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | -37.5% | +159.5 |
| Q2 FY2026 | Jun 30, 2026 | -36.0% | +65.8 |
| Q1 FY2026 | Mar 31, 2026 | -67.0% | +66.5 |
| Q4 FY2025 | Dec 31, 2025 | -338.9% | +339.9 |
| Q3 FY2025 | Sep 30, 2025 | -197.0% | −72.6 |
| Q2 FY2025 | Jun 30, 2025 | -101.7% | +69.0 |
| Q1 FY2025 | Mar 31, 2025 | -133.5% | +82.2 |
| Q4 FY2024 | Dec 31, 2024 | -678.7% | −397.0 |
| Q3 FY2024 | Sep 30, 2024 | -124.4% | +13.4 |
| Q2 FY2024 | Jun 30, 2024 | -170.7% | −80.8 |
| Q1 FY2024 | Mar 31, 2024 | -215.7% | −115.9 |
| Q4 FY2023 | Dec 31, 2023 | -281.7% | −175.9 |
| Q3 FY2023 | Sep 30, 2023 | -137.9% | −53.2 |
| Q2 FY2023 | Jun 30, 2023 | -89.9% | +7.2 |
| Q1 FY2023 | Mar 31, 2023 | -99.8% | −0.9 |
| Q4 FY2022 | Dec 31, 2022 | -105.9% | +18.1 |
| Q3 FY2022 | Sep 30, 2022 | -84.7% | −16.1 |
| Q2 FY2022 | Jun 30, 2022 | -97.1% | −25.2 |
| Q1 FY2022 | Mar 31, 2022 | -98.8% | −31.7 |
| Q4 FY2021 | Dec 31, 2021 | -124.0% | −85.0 |
| Q3 FY2021 | Sep 30, 2021 | -68.6% | −5.9 |
| Q2 FY2021 | Jun 30, 2021 | -72.0% | −64.2 |
| Q1 FY2021 | Mar 31, 2021 | -67.1% | −51.2 |
| Q2 FY2020 | Jun 30, 2020 | -39.0% | −19.7 |
| Q1 FY2020 | Mar 31, 2020 | -62.7% | +30.1 |
| Q4 FY2019 | Dec 31, 2019 | -7.8% | +13.8 |
| Q3 FY2019 | Sep 30, 2019 | -15.9% | +7.9 |
| Q2 FY2019 | Jun 30, 2019 | -19.3% | +45.9 |
| Q1 FY2019 | Mar 31, 2019 | -92.8% | −13.6 |
| Q4 FY2018 | Dec 31, 2018 | -21.6% | +35.4 |
| Q3 FY2018 | Sep 30, 2018 | -23.8% | +81.4 |
| Q2 FY2018 | Jun 30, 2018 | -65.2% | +75.1 |
| Q1 FY2018 | Mar 31, 2018 | -79.3% | +56.4 |
| Q4 FY2017 | Dec 31, 2017 | -57.0% | −20.3 |
| Q3 FY2017 | Sep 30, 2017 | -105.2% | −29.7 |
| Q2 FY2017 | Jun 30, 2017 | -140.3% | – |
| Q1 FY2017 | Mar 31, 2017 | -135.7% | – |
| Q4 FY2016 | Dec 31, 2016 | -36.6% | – |
| Q3 FY2016 | Sep 30, 2016 | -75.5% | – |
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