Plug Power (PLUG) Net Margin (2010 - 2026)
Plug Power's Net Margin was -105.56% in Q2 2026, up 24.98 percentage points from -130.54% a year earlier and up 44.46 percentage points from the prior quarter.
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Analysis
Plug Power (PLUG) Net Margin (2010 - 2026) Analysis & Trends
On a trailing twelve-month basis, Plug Power's Net Margin was -220.59% through Jun 30, 2026, up 72.25 percentage points year-over-year; for FY2025, it came in at -229.83%, up 104.88 percentage points from FY2024.
- Net Margin shows a five-year change of +409.62 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was -334.71% in FY2024 (-181.14 pp), -153.57% in FY2023 (-50.35 pp), -103.22% in FY2022 (-11.65 pp) and -91.56% in FY2021 (+547.88 pp).
- The Q2 2026 figure marks the highest quarterly Net Margin since Q2 2023.
- Compared with a year earlier, Net Margin was higher in five of the last eight quarters, with an average year-over-year change of +3.15 percentage points.
- The best year-over-year quarter for Net Margin over five years was Q4 2025 (a gain of 321.84 percentage points); the worst was Q4 2024 (a drop of 408.28 percentage points).
- Per Business Quant data, PLUG's Net Margin in the three quarters before Q2 2026 was -150.02% (Q1 2026), -375.62% (Q4 2025) and -204.38% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Plug Power | 2.60 Bn | 1.68 Bn | -1.68 Mn | -105.56% |
| 2 | Rex American Resources | 1.41 Bn | 57.46 Mn | 53.30 Mn | 20.74% |
| 3 | Green Plains | 1.04 Bn | 438.04 Mn | 113.03 Mn | 15.05% |
| 4 | Montauk Renewables | 401.08 Mn | 328.86 Mn | - | 0.42% |
| 5 | Clean Energy Fuels | 350.37 Mn | -305.43 Mn | 30.14 Mn | -13.96% |
| 6 | Gevo | 331.30 Mn | 48.28 Mn | 19.80 Mn | -380.51% |
| 7 | OPAL Fuels | 314.56 Mn | 47.17 Mn | 24.47 Mn | -1.80% |
| 8 | Aemetis | 133.29 Mn | 117.04 Mn | 13.52 Mn | -14.94% |
| 9 | Verde Clean Fuels | 50.79 Mn | -147.69 Mn | - | - |
| 10 | Blue Biofuels | 35.59 Mn | 35.40 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -105.56% |
| Mar 31, 2026 | -150.02% |
| Dec 31, 2025 | -375.62% |
| Sep 30, 2025 | -204.38% |
| Jun 30, 2025 | -130.54% |
| Mar 31, 2025 | -147.12% |
| Dec 31, 2024 | -697.46% |
| Sep 30, 2024 | -121.55% |
| Jun 30, 2024 | -183.00% |
| Mar 31, 2024 | -245.94% |
| Dec 31, 2023 | -289.17% |
| Sep 30, 2023 | -142.66% |
| Jun 30, 2023 | -90.86% |
| Mar 31, 2023 | -98.23% |
| Dec 31, 2022 | -101.23% |
| Sep 30, 2022 | -90.53% |
| Jun 30, 2022 | -114.56% |
| Mar 31, 2022 | -111.14% |
| Dec 31, 2021 | -119.15% |
| Sep 30, 2021 | -74.12% |
API Access
Plug Power Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=PLUG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "PLUG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=PLUG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();