Growth Metrics

Plug Power (PLUG) EBITDA (2016 - 2025)

Plug Power (PLUG) has disclosed EBITDA for 16 consecutive years, with -$763.2 million as the latest value for Q4 2025.

  • On a quarterly basis, EBITDA fell 369.53% to -$763.2 million in Q4 2025 year-over-year; TTM through Dec 2025 was -$1.5 billion, a 267.04% decrease, with the full-year FY2025 number at -$1.4 billion, down 260.68% from a year prior.
  • EBITDA was -$763.2 million for Q4 2025 at Plug Power, down from -$348.8 million in the prior quarter.
  • In the past five years, EBITDA ranged from a high of $438.9 million in Q4 2023 to a low of -$763.2 million in Q4 2025.
  • A 5-year average of -$160.7 million and a median of -$188.7 million in 2021 define the central range for EBITDA.
  • Peak YoY movement for EBITDA: surged 292.29% in 2023, then tumbled 369.53% in 2025.
  • Plug Power's EBITDA stood at -$199.0 million in 2021, then decreased by 14.67% to -$228.2 million in 2022, then soared by 292.29% to $438.9 million in 2023, then tumbled by 35.48% to $283.2 million in 2024, then crashed by 369.53% to -$763.2 million in 2025.
  • Per Business Quant, the three most recent readings for PLUG's EBITDA are -$763.2 million (Q4 2025), -$348.8 million (Q3 2025), and -$176.9 million (Q2 2025).