Plug Power (PLUG) FCF Margin (2010 - 2026)
Plug Power (PLUG) reported FCF Margin of 107.7% for Q1 2026, down 2453.0% year-over-year from 4.58% in Q1 2025, and down 66.15% quarter-over-quarter from 64.82% in Q4 2025.
Plug Power (PLUG) FCF Margin (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has 17 years of FCF Margin data on file, last reported at 107.7% in Q1 2026.
- FCF Margin for Q1 2026 came in at 107.7%, down 2453.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 84.7% (up 5023.0% YoY), and the FY2025 annual result was 79.12%, up 8241.0% from the prior year.
- FCF Margin declined to 107.7% in Q1 2026 per PLUG's latest filing, from 64.82% in the prior quarter.
- Over five years, FCF Margin peaked at 27.34% in Q3 2023 and troughed at 326.35% in Q4 2022.
- A 5-year average of 136.73% and a median of 120.78% in 2024 frame the typical range for FCF Margin.
- The sharpest annual moves came in 2022 and 2025: FCF Margin sank 31897 bps in 2022, then jumped 21790 bps in 2025.
- A 5-year view of FCF Margin shows it stood at 326.35% in 2022, then jumped by 48 bps to 169.76% in 2023, then surged by 49 bps to 86.28% in 2024, then rose by 25 bps to 64.82% in 2025, then tumbled by 66 bps to 107.7% in 2026.
- Business Quant data shows PLUG's FCF Margin at 107.7% in Q1 2026, 64.82% in Q4 2025, and 22.16% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 479.97 Bn | 479.92 Bn | - | - |
| 2 | Vertiv Holdings | 114.69 Bn | 112.19 Bn | 999.70 Mn | 28.89% |
| 3 | Bloom Energy | 79.53 Bn | 77.06 Bn | 225.54 Mn | 6.31% |
| 4 | nVent Electric | 27.08 Bn | 26.89 Bn | 445.60 Mn | 3.95% |
| 5 | Hubbell | 26.67 Bn | 26.16 Bn | 505.30 Mn | 3.03% |
| 6 | Advanced Energy Industries | 13.19 Bn | 13.19 Bn | 200.90 Mn | -8.26% |
| 7 | Powell Industries | 10.63 Bn | 10.09 Bn | 87.94 Mn | 16.63% |
| 8 | Ballard Power Systems | 10.07 Bn | 9.54 Bn | 5.64 Mn | -13.40% |
| 9 | Acuity Inc. (De) | 9.39 Bn | 9.12 Bn | 520.40 Mn | 6.94% |
| 10 | Plug Power | 3.75 Bn | 3.37 Bn | -21.61 Mn | -107.70% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -107.70% |
| Dec 31, 2025 | -64.82% |
| Sep 30, 2025 | -22.16% |
| Jun 30, 2025 | -152.48% |
| Mar 31, 2025 | -83.17% |
| Dec 31, 2024 | -86.28% |
| Sep 30, 2024 | -240.06% |
| Jun 30, 2024 | -120.78% |
| Mar 31, 2024 | -216.48% |
| Dec 31, 2023 | -169.76% |
| Sep 30, 2023 | 27.34% |
| Jun 30, 2023 | -191.73% |
| Mar 31, 2023 | -211.85% |
| Dec 31, 2022 | -326.35% |
| Sep 30, 2022 | -65.98% |
| Jun 30, 2022 | -87.31% |
| Mar 31, 2022 | -204.76% |
| Dec 31, 2021 | -7.38% |
| Sep 30, 2021 | -78.96% |
| Jun 30, 2021 | -100.98% |