Plug Power (PLUG) Return on Capital Employed [ROCE] (2011 - 2026)
Plug Power (PLUG) reported Return on Capital Employed [ROCE] of -71.96% for Q2 2026, down 1.56 percentage points from -70.40% a year earlier but up 0.10 percentage points from the prior quarter.
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Analysis
Plug Power (PLUG) Return on Capital Employed [ROCE] (2011 - 2026) Analysis & Trends
For FY2025, Plug Power posted Return on Capital Employed [ROCE] of -58.98%, down 1.34 percentage points from FY2024.
- Return on Capital Employed [ROCE] has declined for four consecutive years, with a five-year change of -11.60 percentage points (FY2020 to FY2025).
- By year, Return on Capital Employed [ROCE] came in at -57.64% in FY2024 (-26.89 pp), -30.75% in FY2023 (-17.74 pp), -13.01% in FY2022 (-1.13 pp) and -11.88% in FY2021 (+35.50 pp).
- Five-year quarterly Return on Capital Employed [ROCE] spans a low of -86.12% in Q3 2025 and a high of -8.06% in Q4 2021.
- Year over year, Return on Capital Employed [ROCE] has now declined in each of the last 15 quarters, with an average year-over-year change of -21.60 percentage points over the last eight quarters.
- The high point for year-over-year Return on Capital Employed [ROCE] in five years was Q4 2021 (a gain of 28.88 percentage points); the low point was Q3 2025 (a drop of 52.17 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -72.06% (Q1 2026), -65.54% (Q4 2025) and -86.12% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Plug Power | 2.65 Bn | 1.74 Bn | -1.68 Mn | -71.96% |
| 2 | Rex American Resources | 1.44 Bn | 80.02 Mn | 53.30 Mn | 17.41% |
| 3 | Green Plains | 1.07 Bn | 468.18 Mn | 113.03 Mn | 10.40% |
| 4 | Montauk Renewables | 411.11 Mn | 338.89 Mn | - | 0.26% |
| 5 | Clean Energy Fuels | 343.76 Mn | -312.04 Mn | 30.14 Mn | -3.59% |
| 6 | Gevo | 323.88 Mn | 40.86 Mn | 19.80 Mn | -34.14% |
| 7 | OPAL Fuels | 304.08 Mn | 36.68 Mn | 24.47 Mn | 0.24% |
| 8 | Aemetis | 123.92 Mn | 107.68 Mn | 13.52 Mn | - |
| 9 | Verde Clean Fuels | 48.56 Mn | -149.91 Mn | - | -27.87% |
| 10 | Blue Biofuels | 32.35 Mn | 32.16 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -71.96% |
| 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% |
API Access
Plug Power Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=PLUG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=PLUG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();