Plug Power Inc.
IndustrialsNASDAQ:PLUG · NASDAQ Capital Market
-$0.07 today
Vol 49.25M · Avg 77.13M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$739.8M of revenue converted into -$1.7B of net income for the selected period. Gross margin is -27.3% and net margin is -215.1%, showing how much revenue survives after costs and taxes. EPS is $-1.42, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $709.9M +12.9% | $628.8M -29.5% | $891.3M +27.1% | $701.4M +39.6% | $502.3M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $952.0M -24.1% | $1.3B -10.4% | $1.4B +56.2% | $895.8M +33.0% | $673.7M | $725.6M | $804.0M | $882.4M |
| Gross Profit | -$242.0M +61.3% | -$624.9M -23.1% | -$507.8M -161.3% | -$194.4M -13.5% | -$171.3M | $8.9B | $7.6B | $6.2B |
| Gross Margin | -34.1% +65.3pp | -99.4% -42.4pp | -57.0% -29.3pp | -27.7% +6.4pp | -34.1% | 9.8% | 28.9% | 38.3% |
| Research & Development | $58.0M -24.9% | $77.2M -32.1% | $113.7M +14.2% | $99.6M +53.8% | $64.8M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $379.6M +0.9% | $376.1M -11.0% | $422.5M +16.1% | $363.9M +102.3% | $179.9M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $437.5M -68.6% | $1.4B +66.9% | $835.7M +72.2% | $485.2M +82.4% | $266.0M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $44.6M -47.3% | $84.6M +19.0% | $71.1M +37.8% | $51.6M +120.8% | $23.4M | $374.2M | $1.2B | $631.8M |
| EBITDA | -$1.6B +19.9% | -$2.0B -56.9% | -$1.3B -99.2% | -$632.5M -54.4% | -$409.6M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | -223.1% +91.2pp | -314.3% -173.0pp | -141.4% -51.2pp | -90.2% -8.6pp | -81.5% | 5.6% | 46.3% | 42.0% |
| Operating Income | -$679.6M +66.4% | -$2.0B -50.3% | -$1.3B -97.7% | -$679.5M -55.4% | -$437.3M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | -95.7% +225.5pp | -321.2% -170.5pp | -150.7% -53.9pp | -96.9% -9.8pp | -87.1% | 16.6% | 24.1% | 22.0% |
| Interest Income | $19.4M -36.7% | $30.7M -45.0% | $55.8M +49.8% | $37.3M +822.3% | $4.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $65.1M +39.7% | $46.6M +3.1% | $45.2M +15.8% | $39.0M -9.7% | $43.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$1.0B -1055.3% | -$87.7M -168.6% | -$32.7M +25.1% | -$43.6M -12.3% | -$38.8M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | -$1.7B +19.7% | -$2.1B -53.1% | -$1.4B -90.3% | -$723.2M -51.9% | -$476.2M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | -238.5% +96.6pp | -335.2% -180.8pp | -154.4% -51.3pp | -103.1% -8.3pp | -94.8% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $356.0K +113.3% | -$2.7M +63.5% | -$7.4M -977.7% | $839.0K +105.2% | -$16.2M | $1.3B | -$1.6B | $745.2M |
| Net Income | -$1.6B +22.5% | -$2.1B -53.8% | -$1.4B -89.1% | -$724.0M -57.4% | -$460.0M | $4.9B | $4.8B | $4.7B |
| Net Margin | -229.8% +104.9pp | -334.7% -181.1pp | -153.6% -50.4pp | -103.2% -11.7pp | -91.6% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$1 +42.4% | -$2 -6.5% | -$2 -84.0% | -$1 -52.4% | -$1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$1 +42.4% | -$2 -6.5% | -$2 -84.0% | -$1 -52.4% | -$1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $1.2B +35.0% | $858.4M +44.2% | $595.5M +2.7% | $579.7M +3.9% | $558.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $1.2B +35.0% | $858.4M +44.2% | $595.5M +2.7% | $579.7M +3.9% | $558.2M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Chart Industries, Inc.
NYSE:GTLS
$9.90B
Matson, Inc.
NYSE:MATX
$6.11B
AAR Corp.
NYSE:AIR
$5.13B
Korn Ferry
NYSE:KFY
$3.80B
Hafnia Limited
NYSE:HAFN
$3.75B
Kadant Inc.
NYSE:KAI
$3.34B
Hayward Holdings, Inc.
NYSE:HAYW
$3.17B
Amprius Technologies, Inc.
NYSE:AMPX
$2.31B
Eos Energy Enterprises, Inc.
NASDAQ:EOSE
$1.58B
GrafTech International Ltd.
NYSE:EAF
$222.71M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does PLUG generate?
Plug Power Inc. (PLUG) reported $709.92M of revenue in fiscal 2025.
Is PLUG profitable?
Plug Power Inc. (PLUG) reported -$1,631,594,000.00 of net income, with a net margin of -229.8%.
Explore More
Continue the stock analysis
Jump to another research area for this company.