Plug Power (PLUG) Net Margin (2010 - 2026)
Plug Power (PLUG) reported Net Margin of 150.47% for Q1 2026, down 320.0% year-over-year from 68.4% in Q1 2025, and up 62.54% quarter-over-quarter from 401.64% in Q4 2025.
Plug Power (PLUG) Net Margin (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has 17 years of Net Margin data on file, last reported at 150.47% in Q1 2026.
- Net Margin for Q1 2026 came in at 150.47%, down 320.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 235.6% (up 7724.0% YoY), and the FY2025 annual result was 229.83%, up 10488.0% from the prior year.
- Net Margin improved to 150.47% in Q1 2026 per PLUG's latest filing, from 401.64% in the prior quarter.
- Over five years, Net Margin peaked at 90.52% in Q3 2022 and troughed at 699.2% in Q4 2024.
- A 5-year average of 195.55% and a median of 142.67% in 2023 frame the typical range for Net Margin.
- The sharpest annual moves came in 2024 and 2025: Net Margin plunged 41003 bps in 2024, then jumped 29756 bps in 2025.
- A 5-year view of Net Margin shows it stood at 101.23% in 2022, then sank by 186 bps to 289.17% in 2023, then plunged by 142 bps to 699.2% in 2024, then jumped by 43 bps to 401.64% in 2025, then soared by 63 bps to 150.47% in 2026.
- Business Quant data shows PLUG's Net Margin at 150.47% in Q1 2026, 401.64% in Q4 2025, and 205.31% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 479.97 Bn | 479.92 Bn | - | - |
| 2 | Vertiv Holdings | 114.69 Bn | 112.19 Bn | 999.70 Mn | 14.72% |
| 3 | Bloom Energy | 79.53 Bn | 77.06 Bn | 225.54 Mn | 9.41% |
| 4 | nVent Electric | 27.08 Bn | 26.89 Bn | 445.60 Mn | 0.16% |
| 5 | Hubbell | 26.67 Bn | 26.16 Bn | 505.30 Mn | 12.07% |
| 6 | Advanced Energy Industries | 13.19 Bn | 13.19 Bn | 200.90 Mn | -0.10% |
| 7 | Powell Industries | 10.63 Bn | 10.09 Bn | 87.94 Mn | 15.47% |
| 8 | Ballard Power Systems | 10.07 Bn | 9.54 Bn | 5.64 Mn | -52.10% |
| 9 | Acuity Inc. (De) | 9.39 Bn | 9.12 Bn | 520.40 Mn | 9.17% |
| 10 | Plug Power | 3.75 Bn | 3.37 Bn | -21.61 Mn | -150.47% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -150.47% |
| Dec 31, 2025 | -401.64% |
| Sep 30, 2025 | -205.31% |
| Jun 30, 2025 | -131.47% |
| Mar 31, 2025 | -147.27% |
| Dec 31, 2024 | -699.20% |
| Sep 30, 2024 | -121.55% |
| Jun 30, 2024 | -183.00% |
| Mar 31, 2024 | -245.97% |
| Dec 31, 2023 | -289.17% |
| Sep 30, 2023 | -142.67% |
| Jun 30, 2023 | -90.86% |
| Mar 31, 2023 | -98.23% |
| Dec 31, 2022 | -101.23% |
| Sep 30, 2022 | -90.52% |
| Jun 30, 2022 | -114.55% |
| Mar 31, 2022 | -111.15% |
| Dec 31, 2021 | -119.15% |
| Sep 30, 2021 | -74.12% |
| Jun 30, 2021 | -79.99% |