Plug Power (PLUG) Net Margin (2010 - 2026)
Plug Power (PLUG) posted quarterly Net Margin of 150.47% for Q1 2026, down 320.0% year-over-year from 68.4% in Q1 2025, and up 38.23% quarter-over-quarter from 243.6% in Q4 2025.
Plug Power (PLUG) Net Margin (2010 - 2026) Analysis & Trends
Plug Power (PLUG) has reported Net Margin for 17 consecutive years, with 150.47% the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Margin fell 320.0% year-over-year to 150.47%; the TTM figure through Mar 2026 stood at 187.48% (up 12536.0% YoY), while the FY2025 annual figure was 229.83%, up 10488.0% from the prior year.
- Net Margin advanced to 150.47% in Q1 2026 per PLUG's latest filing, from 243.6% in the prior quarter.
- Across five years, Net Margin topped out at 90.52% in Q3 2022 and bottomed at 699.21% in Q4 2024.
- Historically, Net Margin has averaged 186.25% across 5 years, with a median of 142.67% in 2023.
- Annual changes were most pronounced in 2024 — Net Margin sank 41004 bps — and 2025, when it jumped 45562 bps.
- Plug Power's Net Margin stood at 101.25% in 2022, then tumbled by 186 bps to 289.17% in 2023, then slumped by 142 bps to 699.21% in 2024, then jumped by 65 bps to 243.6% in 2025, then jumped by 38 bps to 150.47% in 2026.
- Business Quant data shows PLUG's Net Margin at 150.47% in Q1 2026, 243.6% 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 | Vertiv Holdings | 101.35 Bn | 98.24 Bn | 1.23 Bn | 15.20% |
| 2 | Bloom Energy | 58.17 Bn | 55.50 Bn | 355.57 Mn | 18.42% |
| 3 | nVent Electric | 24.99 Bn | 24.74 Bn | 558.00 Mn | 14.67% |
| 4 | Hubbell | 24.90 Bn | 24.51 Bn | 613.00 Mn | 14.15% |
| 5 | Advanced Energy Industries | 11.37 Bn | 9.96 Bn | 236.10 Mn | 9.42% |
| 6 | Acuity Inc. (De) | 10.36 Bn | 9.95 Bn | 606.40 Mn | 11.77% |
| 7 | Powell Industries | 7.22 Bn | 6.58 Bn | 95.30 Mn | 16.73% |
| 8 | EnerSys | 6.93 Bn | 6.40 Bn | 313.36 Mn | 12.45% |
| 9 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn | 14.33% |
| 10 | Plug Power | 3.05 Bn | 2.74 Bn | -1.68 Mn | -106.62% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -106.62% |
| Mar 31, 2026 | -150.47% |
| Dec 31, 2025 | -243.60% |
| Sep 30, 2025 | -205.31% |
| Jun 30, 2025 | -131.47% |
| Mar 31, 2025 | -147.27% |
| Dec 31, 2024 | -699.21% |
| Sep 30, 2024 | -121.55% |
| Jun 30, 2024 | -183.00% |
| Mar 31, 2024 | -245.94% |
| Dec 31, 2023 | -289.17% |
| Sep 30, 2023 | -142.67% |
| Jun 30, 2023 | -90.87% |
| Mar 31, 2023 | -98.21% |
| Dec 31, 2022 | -101.25% |
| 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% |