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Plug Power PLUG Business Segments — Revenue

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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

Reported directly by Plug Power in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

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 business segments — revenue?
Plug Power (PLUG) reported business segments — revenue of $163.51M in Q1 2026.
How has Plug Power's business segments — revenue changed year-over-year?
Plug Power's business segments — revenue increased by 22.3% year-over-year, from $133.67M to $163.51M.
What is the long-term trend for Plug Power's business segments — revenue?
Over 3 years (2022 to 2025), Plug Power's business segments — revenue has grown at a 0.4% compound annual growth rate (CAGR), from $701.44M to $709.92M.
What does business segments — revenue mean?
This represents the total gross income generated by the company's primary business segment through the sale of goods and services related to its hydrogen ecosystem. It serves as a key indicator of market adoption and the scale of the company's core commercial operations.