Plug Power (PLUG) Free Cash Flow (2010 - 2026)
Plug Power (PLUG) reported Free Cash Flow of -$176.1 million for Q1 2026, down 58.4% year-over-year from -$423.4 million in Q1 2025, and down 20.62% on a QoQ basis from -$146.0 million in Q4 2025.
Plug Power (PLUG) has 17 years of Free Cash Flow data on file, last reported at -$176.1 million in Q1 2026.
- Quarterly Free Cash Flow fell 58.4% year-over-year to -$176.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$626.6 million (up 27.69% YoY) and the FY2025 annual result came in at -$561.7 million, up 44.7% from the prior year.
- Free Cash Flow retreated to -$176.1 million in Q1 2026 per PLUG's latest filing, from -$146.0 million in the prior quarter.
- Across five years, Free Cash Flow topped out at $54.3 million in Q3 2023 and bottomed at -$720.4 million in Q4 2022.
- The 5-year median for Free Cash Flow is -$176.1 million (2026), against an average of -$252.1 million.
- The widest annual swing landed in 2022, when Free Cash Flow plunged 5929.96%; it then surged 143.65% in 2023.
- Tracing PLUG's Free Cash Flow over 5 years: stood at -$720.4 million in 2022, then jumped by 47.65% to -$377.1 million in 2023, then surged by 56.2% to -$165.2 million in 2024, then advanced by 11.62% to -$146.0 million in 2025, then retreated by 20.62% to -$176.1 million in 2026.
- Per Business Quant, the three latest PLUG Free Cash Flow figures stand at -$176.1 million (Q1 2026), -$146.0 million (Q4 2025), and -$39.2 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 125.39 Bn | 122.89 Bn | 999.70 Mn | 765.40 Mn |
| 2 | Bloom Energy | 85.22 Bn | 82.75 Bn | 225.54 Mn | 47.43 Mn |
| 3 | nVent Electric | 26.63 Bn | 26.44 Bn | 445.60 Mn | 49.10 Mn |
| 4 | Hubbell | 25.22 Bn | 24.72 Bn | 505.30 Mn | 46.00 Mn |
| 5 | Advanced Energy Industries | 12.25 Bn | 12.25 Bn | 200.90 Mn | -42.20 Mn |
| 6 | Powell Industries | 10.16 Bn | 9.61 Bn | 87.94 Mn | 49.34 Mn |
| 7 | Acuity Inc. (De) | 8.82 Bn | 8.55 Bn | 520.40 Mn | 73.30 Mn |
| 8 | EnerSys | 8.70 Bn | 8.26 Bn | 290.87 Mn | 131.16 Mn |
| 9 | Plug Power | 5.25 Bn | 4.87 Bn | -21.61 Mn | -176.11 Mn |
| 10 | Hayward Holdings | 3.01 Bn | 2.78 Bn | 118.70 Mn | -150.79 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -176.11 Mn |
| Mar 31, 2026 | -176.11 Mn |
| Dec 31, 2025 | -146.00 Mn |
| Dec 31, 2025 | -146.00 Mn |
| Sep 30, 2025 | -39.24 Mn |
| Sep 30, 2025 | -39.24 Mn |
| Jun 30, 2025 | -265.27 Mn |
| Jun 30, 2025 | -265.27 Mn |
| Mar 31, 2025 | -111.18 Mn |
| Mar 31, 2025 | -111.18 Mn |
| Dec 31, 2024 | -165.19 Mn |
| Dec 31, 2024 | -165.19 Mn |
| Sep 30, 2024 | -417.06 Mn |
| Sep 30, 2024 | -417.06 Mn |
| Jun 30, 2024 | -173.14 Mn |
| Jun 30, 2024 | -173.14 Mn |
| Mar 31, 2024 | -260.35 Mn |
| Mar 31, 2024 | -260.35 Mn |
| Dec 31, 2023 | -377.14 Mn |
| Dec 31, 2023 | -377.14 Mn |
| Sep 30, 2023 | 54.32 Mn |
| Sep 30, 2023 | 54.32 Mn |
| Jun 30, 2023 | -498.85 Mn |
| Jun 30, 2023 | -498.85 Mn |
| Mar 31, 2023 | -445.48 Mn |
| Mar 31, 2023 | -445.48 Mn |
| Dec 31, 2022 | -720.40 Mn |
| Dec 31, 2022 | -720.40 Mn |
| Sep 30, 2022 | -124.45 Mn |
| Sep 30, 2022 | -124.45 Mn |
| Jun 30, 2022 | -132.07 Mn |
| Jun 30, 2022 | -132.07 Mn |
| Mar 31, 2022 | -288.31 Mn |
| Mar 31, 2022 | -288.31 Mn |
| Dec 31, 2021 | -11.95 Mn |
| Dec 31, 2021 | -11.95 Mn |
| Sep 30, 2021 | -113.64 Mn |
| Sep 30, 2021 | -113.64 Mn |
| Jun 30, 2021 | -125.78 Mn |
| Jun 30, 2021 | -125.78 Mn |
| Mar 31, 2021 | -126.98 Mn |
| Mar 31, 2021 | -126.98 Mn |
| Dec 31, 2020 | -7.82 Mn |
| Dec 31, 2020 | -7.82 Mn |
| Sep 30, 2020 | -52.06 Mn |
| Sep 30, 2020 | -52.06 Mn |
| Jun 30, 2020 | -55.24 Mn |
| Jun 30, 2020 | -55.24 Mn |
| Mar 31, 2020 | -62.91 Mn |
| Mar 31, 2020 | -62.91 Mn |
| Dec 31, 2019 | -231,000.00 |
| Dec 31, 2019 | -231,000.00 |
| Sep 30, 2019 | -8.46 Mn |
| Sep 30, 2019 | -8.46 Mn |
| Jun 30, 2019 | -13.15 Mn |
| Jun 30, 2019 | -13.15 Mn |
| Mar 31, 2019 | -37.17 Mn |
| Mar 31, 2019 | -37.17 Mn |
| Dec 31, 2018 | -26.99 Mn |
| Dec 31, 2018 | -26.99 Mn |
| Sep 30, 2018 | 13.41 Mn |
| Sep 30, 2018 | 13.41 Mn |
| Jun 30, 2018 | -31.01 Mn |
| Jun 30, 2018 | -31.01 Mn |
| Mar 31, 2018 | -27.31 Mn |
| Mar 31, 2018 | -27.31 Mn |
| Dec 31, 2017 | 18.84 Mn |
| Dec 31, 2017 | 18.84 Mn |
| Sep 30, 2017 | -5.29 Mn |
| Sep 30, 2017 | -5.29 Mn |
| Jun 30, 2017 | -53.66 Mn |
| Jun 30, 2017 | -53.66 Mn |
| Mar 31, 2017 | -24.16 Mn |
| Mar 31, 2017 | -24.16 Mn |
| Dec 31, 2016 | -52.84 Mn |
| Dec 31, 2016 | -52.84 Mn |
| Sep 30, 2016 | -13.85 Mn |
| Sep 30, 2016 | -13.85 Mn |
| Jun 30, 2016 | 377,000.00 |
| Jun 30, 2016 | 377,000.00 |
| Mar 31, 2016 | -18.66 Mn |
| Mar 31, 2016 | -18.66 Mn |
| Dec 31, 2015 | -10.60 Mn |
| Dec 31, 2015 | -10.60 Mn |
| Sep 30, 2015 | -14.56 Mn |
| Sep 30, 2015 | -14.56 Mn |
| Jun 30, 2015 | -11.77 Mn |
| Jun 30, 2015 | -11.77 Mn |
| Mar 31, 2015 | -13.87 Mn |
| Mar 31, 2015 | -13.87 Mn |
| Dec 31, 2014 | -9.97 Mn |
| Dec 31, 2014 | -9.97 Mn |
| Sep 30, 2014 | -11.77 Mn |
| Sep 30, 2014 | -11.77 Mn |
| Jun 30, 2014 | -11.28 Mn |
| Jun 30, 2014 | -11.28 Mn |
| Mar 31, 2014 | -9.17 Mn |
| Mar 31, 2014 | -9.17 Mn |
| Dec 31, 2013 | -8.90 Mn |
| Dec 31, 2013 | -8.90 Mn |
| Sep 30, 2013 | -7.09 Mn |
| Sep 30, 2013 | -7.09 Mn |
| Jun 30, 2013 | -5.07 Mn |
| Jun 30, 2013 | -5.07 Mn |
| Mar 31, 2013 | -5.93 Mn |
| Mar 31, 2013 | -5.93 Mn |
| Dec 31, 2012 | -4.40 Mn |
| Dec 31, 2012 | -4.40 Mn |
| Sep 30, 2012 | -7.39 Mn |
| Sep 30, 2012 | -7.39 Mn |
| Jun 30, 2012 | -4.93 Mn |
| Jun 30, 2012 | -4.93 Mn |
| Mar 31, 2012 | -3.48 Mn |
| Mar 31, 2012 | -3.48 Mn |
| Dec 31, 2011 | -11.68 Mn |
| Dec 31, 2011 | -11.68 Mn |
| Sep 30, 2011 | -6.07 Mn |
| Sep 30, 2011 | -6.07 Mn |
| Jun 30, 2011 | -6.06 Mn |
| Jun 30, 2011 | -6.06 Mn |
| Mar 31, 2011 | -8.18 Mn |
| Mar 31, 2011 | -8.18 Mn |
| Dec 31, 2010 | -1.21 Mn |
| Dec 31, 2010 | -1.21 Mn |
| Sep 30, 2010 | -14.94 Mn |
| Sep 30, 2010 | -14.94 Mn |