Plug Power (PLUG) EBITDA (2010 - 2026)
Plug Power (PLUG) posted quarterly EBITDA of -$109.5 million for Q1 2026, up 38.65% year-over-year from -$79.0 million in Q1 2025, and up 85.65% quarter-over-quarter from -$763.2 million in Q4 2025.
Plug Power (PLUG) EBITDA (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has reported EBITDA for 17 consecutive years, with -$109.5 million the latest figure, recorded in Q1 2026.
- In Q1 2026, EBITDA rose 38.65% year-over-year to -$109.5 million; the TTM figure through Mar 2026 stood at -$1.4 billion (up 27.88% YoY), while the FY2025 annual figure was -$1.5 billion, up 27.35% from the prior year.
- EBITDA climbed to -$109.5 million in Q1 2026 per PLUG's latest filing, from -$763.2 million in the prior quarter.
- Across five years, EBITDA topped out at -$109.5 million in Q1 2026 and bottomed at -$1.3 billion in Q4 2024.
- Historically, EBITDA has averaged -$330.6 million across 5 years, with a median of -$233.7 million in 2022.
- Annual changes were most pronounced in 2022 — EBITDA sank 188.23% — and 2025, when it soared 41.27%.
- Plug Power's EBITDA stood at -$233.7 million in 2022, then tumbled by 167.79% to -$625.9 million in 2023, then plunged by 107.63% to -$1.3 billion in 2024, then jumped by 41.27% to -$763.2 million in 2025, then jumped by 85.65% to -$109.5 million in 2026.
- Business Quant data shows PLUG's EBITDA at -$109.5 million in Q1 2026, -$763.2 million in Q4 2025, and -$348.8 million in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.35 Bn | 98.24 Bn | 1.23 Bn | 637.90 Mn |
| 2 | Bloom Energy | 58.17 Bn | 55.50 Bn | 355.57 Mn | 182.24 Mn |
| 3 | nVent Electric | 24.99 Bn | 24.74 Bn | 558.00 Mn | 300.70 Mn |
| 4 | Hubbell | 24.90 Bn | 24.51 Bn | 613.00 Mn | 348.60 Mn |
| 5 | Advanced Energy Industries | 11.37 Bn | 9.96 Bn | 236.10 Mn | 95.10 Mn |
| 6 | Acuity Inc. (De) | 10.36 Bn | 9.95 Bn | 606.40 Mn | 193.30 Mn |
| 7 | Powell Industries | 7.22 Bn | 6.58 Bn | 95.30 Mn | 64.08 Mn |
| 8 | EnerSys | 6.93 Bn | 6.40 Bn | 313.36 Mn | 151.41 Mn |
| 9 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn | 76.00 Mn |
| 10 | Plug Power | 3.05 Bn | 2.74 Bn | -1.68 Mn | -64.11 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -64.11 Mn |
| Mar 31, 2026 | -109.49 Mn |
| Dec 31, 2025 | -763.19 Mn |
| Sep 30, 2025 | -348.79 Mn |
| Jun 30, 2025 | -176.95 Mn |
| Mar 31, 2025 | -178.46 Mn |
| Dec 31, 2024 | -1.30 Bn |
| Sep 30, 2024 | -216.17 Mn |
| Jun 30, 2024 | -244.67 Mn |
| Mar 31, 2024 | -259.41 Mn |
| Dec 31, 2023 | -625.91 Mn |
| Sep 30, 2023 | -273.97 Mn |
| Jun 30, 2023 | -233.84 Mn |
| Mar 31, 2023 | -209.80 Mn |
| Dec 31, 2022 | -233.73 Mn |
| Sep 30, 2022 | -159.75 Mn |
| Jun 30, 2022 | -146.91 Mn |
| Mar 31, 2022 | -139.16 Mn |
| Dec 31, 2021 | -200.74 Mn |
| Sep 30, 2021 | -98.66 Mn |