Plug Power (PLUG) Operating Income (2010 - 2026)
Plug Power (PLUG) reported Operating Income of -$109.5 million for Q1 2026, up 38.65% year-over-year from -$79.0 million in Q1 2025, and up 85.65% on a QoQ basis from -$763.2 million in Q4 2025.
Plug Power (PLUG) has 17 years of Operating Income data on file, last reported at -$109.5 million in Q1 2026.
- Quarterly Operating Income rose 38.65% year-over-year to -$109.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$1.4 billion (up 27.88% YoY) and the FY2025 annual result came in at -$1.5 billion, up 27.35% from the prior year.
- Operating Income grew to -$109.5 million in Q1 2026 per PLUG's latest filing, from -$763.2 million in the prior quarter.
- Across five years, Operating Income topped out at -$109.5 million in Q1 2026 and bottomed at -$1.3 billion in Q4 2024.
- The 5-year median for Operating Income is -$233.7 million (2022), against an average of -$330.6 million.
- The widest annual swing landed in 2022, when Operating Income tumbled 188.23%; it then jumped 41.27% in 2025.
- Tracing PLUG's Operating Income over 5 years: stood at -$233.7 million in 2022, then plunged by 167.79% to -$625.9 million in 2023, then sank by 107.63% to -$1.3 billion in 2024, then jumped by 41.27% to -$763.2 million in 2025, then jumped by 85.65% to -$109.5 million in 2026.
- Per Business Quant, the three latest PLUG Operating Income figures stand at -$109.5 million (Q1 2026), -$763.2 million (Q4 2025), and -$348.8 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 125.39 Bn | 122.89 Bn | 999.70 Mn | 440.10 Mn |
| 2 | Bloom Energy | 85.22 Bn | 82.75 Bn | 225.54 Mn | 72.20 Mn |
| 3 | nVent Electric | 26.63 Bn | 26.44 Bn | 445.60 Mn | 195.70 Mn |
| 4 | Hubbell | 25.22 Bn | 24.72 Bn | 505.30 Mn | 263.80 Mn |
| 5 | Advanced Energy Industries | 12.25 Bn | 12.25 Bn | 200.90 Mn | 68.30 Mn |
| 6 | Powell Industries | 10.16 Bn | 9.61 Bn | 87.94 Mn | 57.58 Mn |
| 7 | Acuity Inc. (De) | 8.82 Bn | 8.55 Bn | 520.40 Mn | 133.00 Mn |
| 8 | EnerSys | 8.70 Bn | 8.26 Bn | 290.87 Mn | 123.70 Mn |
| 9 | Plug Power | 5.25 Bn | 4.87 Bn | -21.61 Mn | -109.49 Mn |
| 10 | Hayward Holdings | 3.01 Bn | 2.78 Bn | 118.70 Mn | 42.49 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -109.49 Mn |
| Dec 31, 2025 | -763.19 Mn |
| Sep 30, 2025 | -348.79 Mn |
| Jun 30, 2025 | -176.95 Mn |
| Mar 31, 2025 | -178.46 Mn |
| Dec 31, 2024 | -1.30 Bn |
| Sep 30, 2024 | -216.17 Mn |
| Jun 30, 2024 | -244.67 Mn |
| Mar 31, 2024 | -259.41 Mn |
| Dec 31, 2023 | -625.91 Mn |
| Sep 30, 2023 | -273.97 Mn |
| Jun 30, 2023 | -233.84 Mn |
| Mar 31, 2023 | -209.80 Mn |
| Dec 31, 2022 | -233.73 Mn |
| Sep 30, 2022 | -159.75 Mn |
| Jun 30, 2022 | -146.91 Mn |
| Mar 31, 2022 | -139.16 Mn |
| Dec 31, 2021 | -200.74 Mn |
| Sep 30, 2021 | -98.66 Mn |
| Jun 30, 2021 | -89.64 Mn |
| Mar 31, 2021 | -48.28 Mn |
| Dec 31, 2020 | -477.77 Mn |
| Sep 30, 2020 | -54.31 Mn |
| Jun 30, 2020 | -26.53 Mn |
| Mar 31, 2020 | -25.59 Mn |
| Dec 31, 2019 | -7.11 Mn |
| Sep 30, 2019 | -9.46 Mn |
| Jun 30, 2019 | -11.08 Mn |
| Mar 31, 2019 | -19.97 Mn |
| Dec 31, 2018 | -12.92 Mn |
| Sep 30, 2018 | -12.65 Mn |
| Jun 30, 2018 | -22.98 Mn |
| Mar 31, 2018 | -20.94 Mn |
| Dec 31, 2017 | -17.72 Mn |
| Sep 30, 2017 | -36.38 Mn |
| Jun 30, 2017 | -28.07 Mn |
| Mar 31, 2017 | -19.62 Mn |
| Dec 31, 2016 | -11.94 Mn |
| Sep 30, 2016 | -13.26 Mn |
| Jun 30, 2016 | -13.38 Mn |
| Mar 31, 2016 | -12.95 Mn |
| Dec 31, 2015 | -24.12 Mn |
| Sep 30, 2015 | -12.26 Mn |
| Jun 30, 2015 | -9.87 Mn |
| Mar 31, 2015 | -12.76 Mn |
| Dec 31, 2014 | -13.22 Mn |
| Sep 30, 2014 | -10.70 Mn |
| Jun 30, 2014 | -6.64 Mn |
| Mar 31, 2014 | -7.38 Mn |
| Dec 31, 2013 | -7.97 Mn |
| Sep 30, 2013 | -8.00 Mn |
| Jun 30, 2013 | -6.62 Mn |
| Mar 31, 2013 | -6.38 Mn |
| Dec 31, 2012 | -9.54 Mn |
| Sep 30, 2012 | -11.78 Mn |
| Jun 30, 2012 | -7.53 Mn |
| Mar 31, 2012 | -7.81 Mn |
| Dec 31, 2011 | -6.41 Mn |
| Sep 30, 2011 | -8.79 Mn |
| Jun 30, 2011 | -8.64 Mn |
| Mar 31, 2011 | -7.29 Mn |
| Dec 31, 2010 | -8.82 Mn |
| Sep 30, 2010 | -9.40 Mn |
| Jun 30, 2010 | -18.61 Mn |