Plug Power (PLUG) Return on Capital Employed (2011 - 2026)
Plug Power (PLUG) reported Return on Capital Employed of 72.06% for Q1 2026, down 354.0% year-over-year from 28.37% in Q1 2025, and down 9.95% quarter-over-quarter from 65.54% in Q4 2025.
Plug Power (PLUG) Return on Capital Employed (2011 - 2026) Analysis & Trends
Plug Power (PLUG) has 16 years of Return on Capital Employed data on file, last reported at 72.06% in Q1 2026.
- Return on Capital Employed for Q1 2026 came in at 72.06%, down 354.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 72.06% (down 354.0% YoY), and the FY2025 annual result was 58.98%, down 134.0% from the prior year.
- Return on Capital Employed declined to 72.06% in Q1 2026 per PLUG's latest filing, from 65.54% in the prior quarter.
- Over five years, Return on Capital Employed peaked at 9.57% in Q1 2022 and troughed at 86.12% in Q3 2025.
- A 5-year average of 38.65% and a median of 33.95% in 2024 frame the typical range for Return on Capital Employed.
- The sharpest annual moves came in 2022 and 2025: Return on Capital Employed jumped 629 bps in 2022, then slumped 5217 bps in 2025.
- A 5-year view of Return on Capital Employed shows it stood at 13.13% in 2022, then tumbled by 143 bps to 31.89% in 2023, then plunged by 85 bps to 59.14% in 2024, then slipped by 11 bps to 65.54% in 2025, then slipped by 10 bps to 72.06% in 2026.
- Business Quant data shows PLUG's Return on Capital Employed at 72.06% in Q1 2026, 65.54% in Q4 2025, and 86.12% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 479.97 Bn | 479.92 Bn | - | - |
| 2 | Vertiv Holdings | 114.69 Bn | 112.19 Bn | 999.70 Mn | 26.52% |
| 3 | Bloom Energy | 79.53 Bn | 77.06 Bn | 225.54 Mn | 4.38% |
| 4 | nVent Electric | 27.08 Bn | 26.89 Bn | 445.60 Mn | 11.66% |
| 5 | Hubbell | 26.67 Bn | 26.16 Bn | 505.30 Mn | 18.97% |
| 6 | Advanced Energy Industries | 13.19 Bn | 13.19 Bn | 200.90 Mn | 13.11% |
| 7 | Powell Industries | 10.63 Bn | 10.09 Bn | 87.94 Mn | 32.43% |
| 8 | Ballard Power Systems | 10.07 Bn | 9.54 Bn | 5.64 Mn | -16.28% |
| 9 | Acuity Inc. (De) | 9.39 Bn | 9.12 Bn | 520.40 Mn | 15.83% |
| 10 | Plug Power | 3.75 Bn | 3.37 Bn | -21.61 Mn | -72.06% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -72.06% |
| Dec 31, 2025 | -65.54% |
| Sep 30, 2025 | -86.12% |
| Jun 30, 2025 | -70.40% |
| Mar 31, 2025 | -68.52% |
| Dec 31, 2024 | -59.14% |
| Sep 30, 2024 | -33.95% |
| Jun 30, 2024 | -35.06% |
| Mar 31, 2024 | -35.15% |
| Dec 31, 2023 | -31.89% |
| Sep 30, 2023 | -20.74% |
| Jun 30, 2023 | -17.47% |
| Mar 31, 2023 | -14.91% |
| Dec 31, 2022 | -13.13% |
| Sep 30, 2022 | -12.44% |
| Jun 30, 2022 | -10.96% |
| Mar 31, 2022 | -9.57% |
| Dec 31, 2021 | -8.06% |
| Sep 30, 2021 | -13.00% |
| Jun 30, 2021 | -12.10% |