Plug Power (PLUG) Net Income (2010 - 2026)
Plug Power (PLUG) posted quarterly Net Income of -$246.0 million for Q1 2026, down 24.98% year-over-year from -$328.0 million in Q1 2025, and up 55.15% quarter-over-quarter from -$548.6 million in Q4 2025.
Plug Power (PLUG) Net Income (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has reported Net Income for 17 consecutive years, with -$246.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Income fell 24.98% year-over-year to -$246.0 million; the TTM figure through Mar 2026 stood at -$1.4 billion (up 30.97% YoY), while the FY2025 annual figure was -$1.3 billion, up 36.54% from the prior year.
- Net Income improved to -$246.0 million in Q1 2026 per PLUG's latest filing, from -$548.6 million in the prior quarter.
- Across five years, Net Income topped out at -$156.5 million in Q1 2022 and bottomed at -$1.3 billion in Q4 2024.
- Historically, Net Income has averaged -$340.9 million across 5 years, with a median of -$236.4 million in 2023.
- Annual changes were most pronounced in 2023 — Net Income plunged 191.96% — and 2025, when it soared 59.02%.
- Plug Power's Net Income stood at -$223.5 million in 2022, then slumped by 191.96% to -$652.5 million in 2023, then plunged by 105.17% to -$1.3 billion in 2024, then jumped by 59.02% to -$548.6 million in 2025, then surged by 55.15% to -$246.0 million in 2026.
- Business Quant data shows PLUG's Net Income at -$246.0 million in Q1 2026, -$548.6 million in Q4 2025, and -$363.5 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Income (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.35 Bn | 98.24 Bn | 1.23 Bn | 497.80 Mn |
| 2 | Bloom Energy | 58.17 Bn | 55.50 Bn | 355.57 Mn | 198.83 Mn |
| 3 | nVent Electric | 24.99 Bn | 24.74 Bn | 558.00 Mn | 215.90 Mn |
| 4 | Hubbell | 24.90 Bn | 24.51 Bn | 613.00 Mn | 242.20 Mn |
| 5 | Advanced Energy Industries | 11.37 Bn | 9.96 Bn | 236.10 Mn | 54.10 Mn |
| 6 | Acuity Inc. (De) | 10.36 Bn | 9.95 Bn | 606.40 Mn | 141.00 Mn |
| 7 | Powell Industries | 7.22 Bn | 6.58 Bn | 95.30 Mn | 52.16 Mn |
| 8 | EnerSys | 6.93 Bn | 6.40 Bn | 313.36 Mn | 116.45 Mn |
| 9 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn | 45.62 Mn |
| 10 | Plug Power | 3.05 Bn | 2.74 Bn | -1.68 Mn | -190.10 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -190.10 Mn |
| Mar 31, 2026 | -246.04 Mn |
| Dec 31, 2025 | -548.63 Mn |
| Sep 30, 2025 | -363.51 Mn |
| Jun 30, 2025 | -228.73 Mn |
| Mar 31, 2025 | -196.86 Mn |
| Dec 31, 2024 | -1.34 Bn |
| Sep 30, 2024 | -211.17 Mn |
| Jun 30, 2024 | -262.33 Mn |
| Mar 31, 2024 | -295.78 Mn |
| Dec 31, 2023 | -652.53 Mn |
| Sep 30, 2023 | -283.51 Mn |
| Jun 30, 2023 | -236.42 Mn |
| Mar 31, 2023 | -206.53 Mn |
| Dec 31, 2022 | -223.50 Mn |
| Sep 30, 2022 | -170.74 Mn |
| Jun 30, 2022 | -173.27 Mn |
| Mar 31, 2022 | -156.50 Mn |
| Dec 31, 2021 | -192.91 Mn |
| Sep 30, 2021 | -106.67 Mn |