What is Plug Power's EV / sales?

Plug Power (PLUG) reported EV / sales of 4.3× in Q1 2026.

How has Plug Power's EV / sales changed year-over-year?

Plug Power's EV / sales increased by 104.3% year-over-year, from 2.1× to 4.3×.

What is the long-term trend for Plug Power's EV / sales?

Over 4 years (2021 to 2025), Plug Power's EV / sales has grown at a -39.4% compound annual growth rate (CAGR), from 28× to 3.8×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

Plug Power PLUG EV / sales

EV / sales at other companies

Bloom EnergyBE

15.6×+12.4×

Generac HoldingsGNRC

2.9×+0.9×

FluorFLR

0.3×0.0×

Franklin ElectricFELE

2×-0.3×

Chart IndustriesGTLS

3.3×+0.9×

KBRKBR

0.9×-0.3×

Other financials

Income statement

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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

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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

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Operating cash flow-$150.0M-42.1%

CapEx$2.4M-94.0%

Free cash flow-$152.4M-4.4%

Valuation

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Market cap$3.98B+140%

Enterprise value$4.02B+135%

P/S5.4×+2.8×

Profitability

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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

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Return on equity-128.9%+150pp

Debt / equity0.4×+0.2×

Current ratio2.4×+0.4×

Where this comes from

Calculated from Plug Power’s reported figures.

enterprise value/total revenue=4.3×

Based on the most recent quarter.

The official record: Plug Power’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Plug Power's EV / sales?: Plug Power (PLUG) reported EV / sales of 4.3× in Q1 2026.
How has Plug Power's EV / sales changed year-over-year?: Plug Power's EV / sales increased by 104.3% year-over-year, from 2.1× to 4.3×.
What is the long-term trend for Plug Power's EV / sales?: Over 4 years (2021 to 2025), Plug Power's EV / sales has grown at a -39.4% compound annual growth rate (CAGR), from 28× to 3.8×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.