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Plug Power PLUG Return on invested capital

Return on invested capital at other companies

Bloom Energy logo
Bloom EnergyBE
11.1%+5.6pp
Fluor logo
FluorFLR
-12.5%
Franklin Electric logo
Franklin ElectricFELE
12.9%+0.3pp
Chart Industries logo
Chart IndustriesGTLS
3.9%-3.9pp
KBR logo
KBRKBR
14.1%-0.6pp
Caterpillar logo
CaterpillarCAT
18.2%-5.9pp

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.

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 return on invested capital?
Plug Power (PLUG) reported return on invested capital of -103.9% in Q1 2026.
How has Plug Power's return on invested capital changed year-over-year?
Plug Power's return on invested capital decreased by 35.3% year-over-year, from -76.8% to -103.9%.
What is the long-term trend for Plug Power's return on invested capital?
Over 5 years (2020 to 2025), Plug Power's return on invested capital has grown at a -15.2% compound annual growth rate (CAGR), from -238.6% to -104.7%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.