Plug Power (PLUG) Operating Margin (2010 - 2026)

Plug Power (PLUG) has reported Operating Margin for 17 consecutive years, with 35.96% the latest figure, recorded in Q2 2026.

• On a quarterly basis, Operating Margin rose 6576.0% year-over-year to 35.96% in Q2 2026; TTM through Jun 2026 was 172.77%, a 10532.0% increase from a year earlier, with the FY2025 full-year figure at 206.7%, up 11452.0% from the prior year.
• Operating Margin was 35.96% for Q2 2026 at Plug Power, up from 66.96% in the prior quarter.
• Over five years, Operating Margin peaked at 35.96% in Q2 2026 and troughed at 678.75% in Q4 2024.
• A 5-year average of 169.96% and a median of 115.16% in 2022 frame the typical range for Operating Margin.
• Across the five-year window, Operating Margin slumped 39701 bps in 2024 and soared 33988 bps in 2025, its largest moves.
• Over 5 years, Operating Margin stood at 105.89% in 2022, then slumped by 166 bps to 281.74% in 2023, then plunged by 141 bps to 678.75% in 2024, then surged by 50 bps to 338.87% in 2025, then soared by 89 bps to 35.96% in 2026.
• The last three Operating Margin figures came in at 35.96% (Q2 2026), 66.96% (Q1 2026), and 338.87% (Q4 2025), per Business Quant data.