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PLUG · Nasdaq · United States · Electrical Industrial Apparatus
In shortPLUG POWER INC is loss-making.
Financial health
Weak
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -206.7% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -229.8% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -120.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 2.31× | 100/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | n/a |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | -22.53× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | -11.47 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | -91.1% | 0/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 0 of 5 | 0/100 |
Weight in the score: 20%
| Profitable years (last 5) | 0 of 5 | 0/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 4 | 58/100 |
| Revenue growth volatility | 30.0% | 0/100 |
| Operating margin volatility | 95.9% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 0.4% | 19/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 502 | 701 | 891 | 629 | 710 |
| Cost of revenue | 674 | 896 | 1,399 | 1,254 | 952 |
| Gross profit | (171) | (194) | (508) | (625) | (242) |
| Research & development | 65 | 100 | 114 | 77 | 58 |
| Selling, general & admin | 180 | 364 | 422 | 376 | 380 |
| Operating income | (437) | (680) | (1,344) | (2,020) | (1,467) |
| Interest expense | 43 | 39 | 45 | 47 | 65 |
| Pre-tax income | (476) | (723) | (1,376) | (2,108) | (1,693) |
| Income tax | (16) | 0.8 | (7.4) | (2.7) | 0.4 |
| Net income | (460) | (724) | (1,369) | (2,105) | (1,632) |
| Diluted EPS | −$0.82 | −$1.25 | −$2.30 | −$2.68 | −$1.42 |
| Diluted shares (millions) | 558 | 580 | 595 | 785 | 1,147 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 8 reported quarters (10-Q and 10-K filings), in USD millions. The fourth quarter is derived from the annual report.
The last 8 quarters of PLUG POWER INC are included in the Investor plan. Try free for 7 days →
−11.47 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
5/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Jun 30, 2026 · Data updated Aug 10, 2026