Plug Power (PLUG) FCF Margin (2010 - 2026)
Plug Power's FCF Margin came in at -66.42% for Q2 2026, up 66.04 percentage points from -132.45% a year earlier and up 28.83 percentage points from the prior quarter.
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Analysis
Plug Power (PLUG) FCF Margin (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Plug Power reported FCF Margin of -73.21%, up 42.09 percentage points year-over-year; for FY2025, it came in at -91.14%, up 70.40 percentage points from FY2024.
- FCF Margin carries a five-year change of +103.25 percentage points (FY2020 to FY2025).
- Going back by year, FCF Margin was -161.53% in FY2024 (+37.24 pp), -198.78% in FY2023 (-18.40 pp), -180.38% in FY2022 (-74.80 pp) and -105.57% in FY2021 (+88.81 pp).
- The five-year range for quarterly FCF Margin is -248.37% (Q2 2024) to -55.87% (Q4 2021).
- Year-over-year, FCF Margin has increased for eight consecutive quarters, with an average year-over-year change of +70.34 percentage points over the last eight quarters.
- The fastest year-over-year change in FCF Margin over five years came in Q2 2025 (a gain of 115.92 percentage points), and the weakest in Q4 2022 (a drop of 136.95 percentage points).
- Business Quant data shows PLUG's FCF Margin at -95.25% (Q1 2026), -67.95% (Q4 2025) and -66.37% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Plug Power | 2.60 Bn | 1.68 Bn | -1.68 Mn | -66.42% |
| 2 | Rex American Resources | 1.41 Bn | 57.46 Mn | 53.30 Mn | 9.96% |
| 3 | Green Plains | 1.04 Bn | 438.04 Mn | 113.03 Mn | 16.94% |
| 4 | Montauk Renewables | 401.08 Mn | 328.86 Mn | - | -18.69% |
| 5 | Clean Energy Fuels | 350.37 Mn | -305.43 Mn | 30.14 Mn | 23.64% |
| 6 | Gevo | 331.30 Mn | 48.28 Mn | 19.80 Mn | -44.66% |
| 7 | OPAL Fuels | 314.56 Mn | 47.17 Mn | 24.47 Mn | -21.05% |
| 8 | Aemetis | 133.29 Mn | 117.04 Mn | 13.52 Mn | -16.61% |
| 9 | Verde Clean Fuels | 50.79 Mn | -147.69 Mn | - | - |
| 10 | Blue Biofuels | 35.59 Mn | 35.40 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -66.42% |
| Mar 31, 2026 | -95.25% |
| Dec 31, 2025 | -67.95% |
| Sep 30, 2025 | -66.37% |
| Jun 30, 2025 | -132.45% |
| Mar 31, 2025 | -109.24% |
| Dec 31, 2024 | -86.28% |
| Sep 30, 2024 | -134.78% |
| Jun 30, 2024 | -248.37% |
| Mar 31, 2024 | -216.48% |
| Dec 31, 2023 | -190.78% |
| Sep 30, 2023 | -203.12% |
| Jun 30, 2023 | -191.73% |
| Mar 31, 2023 | -211.85% |
| Dec 31, 2022 | -192.82% |
| Sep 30, 2022 | -146.66% |
| Jun 30, 2022 | -181.56% |
| Mar 31, 2022 | -204.76% |
| Dec 31, 2021 | -55.87% |
| Sep 30, 2021 | -111.30% |
API Access
Plug Power FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=PLUG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "PLUG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=PLUG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();