Plug Power (PLUG) FCF Margin (2010 - 2026)
Plug Power (PLUG) posted quarterly FCF Margin of 93.23% for Q1 2026, down 1006.0% year-over-year from 10.29% in Q1 2025, and down 36.96% quarter-over-quarter from 68.07% in Q4 2025.
Plug Power (PLUG) FCF Margin (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has reported FCF Margin for 17 consecutive years, with 93.23% the latest figure, recorded in Q1 2026.
- In Q1 2026, FCF Margin fell 1006.0% year-over-year to 93.23%; the TTM figure through Mar 2026 stood at 79.97% (up 3108.0% YoY), while the FY2025 annual figure was 77.52%, up 4586.0% from the prior year.
- FCF Margin fell to 93.23% in Q1 2026 per PLUG's latest filing, from 68.07% in the prior quarter.
- Across five years, FCF Margin topped out at 52.08% in Q3 2025 and bottomed at 349.33% in Q4 2023.
- Historically, FCF Margin has averaged 143.76% across 5 years, with a median of 137.1% in 2023.
- Annual changes were most pronounced in 2022 — FCF Margin tumbled 17984 bps — and 2024, when it soared 27785 bps.
- Plug Power's FCF Margin stood at 192.82% in 2022, then plunged by 81 bps to 349.33% in 2023, then surged by 80 bps to 71.49% in 2024, then grew by 5 bps to 68.07% in 2025, then slumped by 37 bps to 93.23% in 2026.
- Business Quant data shows PLUG's FCF Margin at 93.23% in Q1 2026, 68.07% in Q4 2025, and 52.08% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.35 Bn | 98.24 Bn | 1.23 Bn | 28.30% |
| 2 | Bloom Energy | 58.17 Bn | 55.50 Bn | 355.57 Mn | 14.64% |
| 3 | nVent Electric | 24.99 Bn | 24.74 Bn | 558.00 Mn | 11.37% |
| 4 | Hubbell | 24.90 Bn | 24.51 Bn | 613.00 Mn | 12.43% |
| 5 | Advanced Energy Industries | 11.37 Bn | 9.96 Bn | 236.10 Mn | 6.36% |
| 6 | Acuity Inc. (De) | 10.36 Bn | 9.95 Bn | 606.40 Mn | 22.84% |
| 7 | Powell Industries | 7.22 Bn | 6.58 Bn | 95.30 Mn | 30.06% |
| 8 | EnerSys | 6.93 Bn | 6.40 Bn | 313.36 Mn | 23.27% |
| 9 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn | 97.96% |
| 10 | Plug Power | 3.05 Bn | 2.74 Bn | -1.68 Mn | -55.00% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -55.00% |
| Mar 31, 2026 | -93.23% |
| Dec 31, 2025 | -68.07% |
| Sep 30, 2025 | -52.08% |
| Jun 30, 2025 | -111.29% |
| Mar 31, 2025 | -83.17% |
| Dec 31, 2024 | -71.49% |
| Sep 30, 2024 | -76.04% |
| Jun 30, 2024 | -232.30% |
| Mar 31, 2024 | -144.52% |
| Dec 31, 2023 | -349.33% |
| Sep 30, 2023 | -131.44% |
| Jun 30, 2023 | -171.49% |
| Mar 31, 2023 | -137.10% |
| Dec 31, 2022 | -192.82% |
| Sep 30, 2022 | -146.66% |
| Jun 30, 2022 | -228.89% |
| Mar 31, 2022 | -153.91% |
| Dec 31, 2021 | -12.98% |
| Sep 30, 2021 | -53.94% |