Plug Power (PLUG) Free Cash Flow (2010 - 2026)
Plug Power (PLUG) posted quarterly Free Cash Flow of -$152.4 million for Q1 2026, down 37.12% year-over-year from -$242.5 million in Q1 2025, and up 0.57% quarter-over-quarter from -$153.3 million in Q4 2025.
Plug Power (PLUG) Free Cash Flow (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has reported Free Cash Flow for 17 consecutive years, with -$152.4 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Free Cash Flow fell 37.12% year-over-year to -$152.4 million; the TTM figure through Mar 2026 stood at -$591.6 million (up 17.05% YoY), while the FY2025 annual figure was -$550.3 million, up 29.06% from the prior year.
- Free Cash Flow improved to -$152.4 million in Q1 2026 per PLUG's latest filing, from -$153.3 million in the prior quarter.
- Across five years, Free Cash Flow topped out at -$92.2 million in Q3 2025 and bottomed at -$776.1 million in Q4 2023.
- Historically, Free Cash Flow has averaged -$265.6 million across 5 years, with a median of -$216.7 million in 2022.
- Annual changes were most pronounced in 2022 — Free Cash Flow plunged 1925.37% — and 2024, when it surged 82.36%.
- Plug Power's Free Cash Flow stood at -$425.6 million in 2022, then slumped by 82.34% to -$776.1 million in 2023, then soared by 82.36% to -$136.9 million in 2024, then retreated by 12.01% to -$153.3 million in 2025, then gained by 0.57% to -$152.4 million in 2026.
- Business Quant data shows PLUG's Free Cash Flow at -$152.4 million in Q1 2026, -$153.3 million in Q4 2025, and -$92.2 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 99.40 Bn | 96.29 Bn | 1.23 Bn | 926.50 Mn |
| 2 | Bloom Energy | 56.52 Bn | 53.85 Bn | 355.57 Mn | 155.97 Mn |
| 3 | Hubbell | 24.95 Bn | 24.55 Bn | 613.00 Mn | 212.80 Mn |
| 4 | nVent Electric | 24.74 Bn | 24.49 Bn | 558.00 Mn | 167.30 Mn |
| 5 | Advanced Energy Industries | 11.13 Bn | 9.71 Bn | 236.10 Mn | 36.50 Mn |
| 6 | Acuity Inc. (De) | 10.35 Bn | 9.94 Bn | 606.40 Mn | 273.60 Mn |
| 7 | Powell Industries | 7.23 Bn | 6.59 Bn | 95.30 Mn | 93.70 Mn |
| 8 | EnerSys | 6.91 Bn | 6.38 Bn | 313.36 Mn | 217.74 Mn |
| 9 | Plug Power | 3.23 Bn | 2.91 Bn | -1.68 Mn | -98.06 Mn |
| 10 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn | 311.89 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -98.06 Mn |
| Jun 30, 2026 | -98.06 Mn |
| Mar 31, 2026 | -152.45 Mn |
| Mar 31, 2026 | -152.45 Mn |
| Dec 31, 2025 | -153.32 Mn |
| Dec 31, 2025 | -153.32 Mn |
| Sep 30, 2025 | -92.21 Mn |
| Sep 30, 2025 | -92.21 Mn |
| Jun 30, 2025 | -193.61 Mn |
| Jun 30, 2025 | -193.61 Mn |
| Mar 31, 2025 | -111.18 Mn |
| Mar 31, 2025 | -111.18 Mn |
| Dec 31, 2024 | -136.88 Mn |
| Dec 31, 2024 | -136.88 Mn |
| Sep 30, 2024 | -132.11 Mn |
| Sep 30, 2024 | -132.11 Mn |
| Jun 30, 2024 | -333.01 Mn |
| Jun 30, 2024 | -333.01 Mn |
| Mar 31, 2024 | -173.80 Mn |
| Mar 31, 2024 | -173.80 Mn |