Plug Power PLUG Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | -26.4%+57.6pp | -34.9%+64.5pp | -71.3%+21.6pp | -68.6%+26.4pp | -84%-9.5pp | |
| Operating margin | -189%+113pp | -206.7%+115pp | -296.3%-92.2pp | -278.1%-73.0pp | -301.9%-128pp | |
| Net margin | -227.1%+85.2pp | -229.8%+105pp | -313.7%-99.6pp | -292.8%-76.0pp | -312.3%-130pp | |
| Returns | ||||||
| Return on equity | -128.9%-45.1pp | -120.3%-29.4pp | -95.4%-52.2pp | -84.4%-40.3pp | -83.8%-41.2pp | |
| Return on invested capital | -103.9%-27.1pp | -104.7%-24.8pp | -82.4%-44.5pp | -72.3%-31.3pp | -76.8%-36.9pp | |
| Efficiency | ||||||
| Asset turnover | 0.2×+0.1× | 0.2×+0.1× | 0.2×0.0× | 0.2×0.0× | 0.2×0.0× | |
| Liquidity | ||||||
| Current ratio | 2.4×+0.4× | 2.3×+0.3× | 1.3×-0.8× | 1.6×-0.5× | 1.9×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 0.4×+0.2× | 0.3×+0.1× | 0.2×+0.1× | 0.2×+0.1× | 0.2×0.0× | |
| Per Share | ||||||
| Book value per share | $0.54-72.5% | $0.85-61.4% | $1.22-65.3% | $1.49-63.2% | $1.96-57.0% | |
| Valuation | ||||||
| Market capitalization | $3.15B+140% | $2.74B+41.3% | $2.71B+63.0% | $1.33B-11.0% | $1.31B-37.1% | |
| Price / sales | 4.3×+2.2× | 3.9×+0.8× | 4×+1.5× | 2×-0.2× | 2×-0.6× | |
| Price / book | 4.2×+3.5× | 2.8×+1.7× | 1.9×+1.4× | 0.8×+0.3× | 0.7×0.0× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Plug Power's profit margins?
- Plug Power (PLUG) runs a -26.4% gross margin and a -189.0% operating margin, with a -227.1% net margin.
- Where do Plug Power's ratios come from?
- Every ratio is computed from Plug Power's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
