What is Plug Power's net margin?

Plug Power (PLUG) reported net margin of -227.1% in Q1 2026.

How has Plug Power's net margin changed year-over-year?

Plug Power's net margin increased by 27.3% year-over-year, from -312.3% to -227.1%.

What is the long-term trend for Plug Power's net margin?

Over 5 years (2020 to 2025), Plug Power's net margin has grown at a -18.5% compound annual growth rate (CAGR), from 639.4% to -229.8%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Plug Power PLUG Net margin

Net margin at other companies

Bloom EnergyBE

0.3%—

Generac HoldingsGNRC

7%-0.2pp

FluorFLR

2.3%-8.8pp

Franklin ElectricFELE

6.9%-1.9pp

Chart IndustriesGTLS

-0.6%-6.7pp

KBRKBR

5.2%+0.2pp

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

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.

net income/total revenue=-227.1%

Based on trailing twelve months.

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 net margin?: Plug Power (PLUG) reported net margin of -227.1% in Q1 2026.
How has Plug Power's net margin changed year-over-year?: Plug Power's net margin increased by 27.3% year-over-year, from -312.3% to -227.1%.
What is the long-term trend for Plug Power's net margin?: Over 5 years (2020 to 2025), Plug Power's net margin has grown at a -18.5% compound annual growth rate (CAGR), from 639.4% to -229.8%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.