What is Plug Power's market cap?

Plug Power (PLUG) has a market capitalization of $2.9B and trades on NASDAQ.

What is Plug Power's revenue and profitability?

Plug Power generated $739.8M in trailing twelve-month revenue with a net loss of $1.7B, representing a net margin of -227.1%. Gross margin stands at -26.4%, with free cash flow of -$653.4M. These figures are based on the Q1 2026 filing.

Who are Plug Power's competitors?

Plug Power's key competitors include FuelCell Energy, Ballard Power Systems, Bloom Energy, and others. These companies compete in similar markets and product categories.

Who does Plug Power partner with?

Plug Power's notable partners include Amazon, Walmart, Renault Group, and others.

What subsidiaries does Plug Power have?

Plug Power's subsidiaries include Applied Cryo Technologies, Frames Group, United Hydrogen Group.

Where is Plug Power headquartered?

Plug Power is headquartered in United States of America and employs approximately 3,868 people. It has been publicly traded since 1999.

Plug Power

PLUG

Plug Power is a leading provider of comprehensive green hydrogen solutions, building an end-to-end ecosystem that spans production, storage, delivery, and energy generation.

Market cap

$2.87B+61.6%

Revenue$739.8M+15.2%

Net income-$1.7B+16.2%

Free cash flow-$653.4M+27.5%

EPS (diluted)-$1.38+44.1%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q1 2026 report

May 11, 2026

Revenue$163.5MBeat by $23.6M EPS-$0.08Beat by $0.01

Read the full report

Next report

Aug 10, 2026 (In 1 week)

Revenue estimate$169.1M

EPS estimate-$0.08

Financials

Q1 2026

Income statement

See full

Revenue$163.5M+22.3%

Gross profit-$21.6M+70.7%

Operating income-$109.5M+38.6%

Net income-$245.3M-24.7%

EPS (diluted)-$0.18+14.3%

Balance sheet

See full

Cash & equivalents$223.2M-24.6%

Total debt$263.3M-22.5%

Total equity$749.8M-59.6%

Total assets$2.4B-34.8%

Cash flow

See full

Operating cash flow-$150.0M-42.1%

CapEx$2.4M-94.0%

Free cash flow-$152.4M-4.4%

Valuation & ratios

Valuation

See full

Market cap$2.87B+61.6%

Enterprise value$2.91B+30.9%

P/S3.9×+0.9×

Profitability

See full

Gross margin-26.4%-10.7pp

Operating margin-189%-51.4pp

Net margin-227.1%-48.7pp

FCF margin-88.3%-23.9pp

Returns & leverage

See full

Return on equity-128.9%+150pp

Debt / equity0.4×+0.2×

Current ratio2.4×+0.4×

Segments

By product

See full

Sale Of Electrolyzers$40.9M+344%

Fuel Delivered To Customers And Related Equipment$35.8M+21.5%

Power Purchase Agreements$26.3M+13.3%

Services Performed On Fuel Cell Systems And Related Infrastructure$22.0M+30.2%

Sale Of Hydrogen Infrastructure$12.6M+123%

By segment

See full

Single Reportable$163.5M+22.3%

Competitors

By market cap

Bloom Energy$53.5B+563%

Generac Holdings$11.6B+26.6%

Plug Power$2.9B+41.5%

FuelCell Energy$1.7B+1,331%

Ballard Power Systems$865.2M+41.5%

NET Power$128.2M-42.7%

Pioneer Power Solutions$33.1M-10.3%

ESS Tech$22.6M-10.6%

By revenue growth

Bloom Energy+91.0%

FuelCell Energy+29.7%

Plug Power+15.2%

Generac Holdings+0.6%

By net margin

Bloom Energy8.02%+16.7pp

Generac Holdings6.96%+0.5pp

FuelCell Energy-132.41%-23.9pp

Plug Power-227.13%+85.2pp

NET Power-1,508,283.33%—

Profile

Plug Power is a leading provider of comprehensive green hydrogen solutions, building an end-to-end ecosystem that spans production, storage, delivery, and energy generation. The company specializes in vertically integrated hydrogen fuel cell technology and electrolyzers designed to help industrial and commercial customers decarbonize their operations and transition to clean energy.

Competitive position

Plug Power is a pioneer in the commercial hydrogen fuel cell market, maintaining a significant footprint in material handling with over 74,000 systems deployed.

GeographiesNorth America, Europe, Australia, Asia

Customer segmentsIndustrial manufacturing, Logistics and distribution, Telecommunications, Energy and utilities

Business modelManufacturing, Vertically integrated service provider, Maintenance and service contracts

SuppliersRenewable energy providers (solar/wind), Raw material suppliers for PEM fuel cells, Component manufacturers, Third-party hydrogen suppliers

CustomersHigh-volume distribution centers, Multi-shift manufacturing sites, EV fleet operators, Industrial chemical producers

CountryUnited States of America

Listed1999

Employees3.9K

CEOJose Luis Crespo

SectorIndustrials

IndustryElectrical Equipment & Parts

Websiteplugpower.com

FilingsSEC EDGAR

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Questions, answered.

What is Plug Power's market cap?: Plug Power (PLUG) has a market capitalization of $2.9B and trades on NASDAQ.
What is Plug Power's revenue and profitability?: Plug Power generated $739.8M in trailing twelve-month revenue with a net loss of $1.7B, representing a net margin of -227.1%. Gross margin stands at -26.4%, with free cash flow of -$653.4M. These figures are based on the Q1 2026 filing.
Who are Plug Power's competitors?: Plug Power's key competitors include FuelCell Energy, Ballard Power Systems, Bloom Energy, and others. These companies compete in similar markets and product categories.
Who does Plug Power partner with?: Plug Power's notable partners include Amazon, Walmart, Renault Group, and others.
What subsidiaries does Plug Power have?: Plug Power's subsidiaries include Applied Cryo Technologies, Frames Group, United Hydrogen Group.
Where is Plug Power headquartered?: Plug Power is headquartered in United States of America and employs approximately 3,868 people. It has been publicly traded since 1999.