Plug Power Inc (PLUG) FinancialsPLUGPlug Power Inc

Plug Power Inc. (PLUG) generates its revenue through a diversified portfolio of business segments. Currently, the largest contributor to its top-line growth is Fuel delivered to customers, accounting for 22.1% of total sales, equivalent to $39.47M. Other significant revenue streams include Sales of fuel cell systems and Services performed on fuel cell systems and related infrastructure. Understanding this composition is critical for investors evaluating how PLUG navigates market cycles within the Renewable Energy Equipment & Services industry.

Evaluating the bottom line, Plug Power Inc. maintains a gross margin of -9.73%. This metric reflects the company's pricing power and manufacturing efficiency. Further down the income statement, the operating margin stands at -24.88%, while the net margin is -106.62%. These profitability ratios, combined with a Return on Equity (ROE) of -145.07%, provide a clear picture of how effectively PLUG converts its operational activities into shareholder value.

In the context of the broader market, PLUG competes directly with industry leaders such as VECO and AEHR. With a market capitalization of $3.17B, it holds a significant position in the sector. When comparing efficiency, PLUG's gross margin of -9.73% stands against VECO's 38.36% and AEHR's 42.57%. Such benchmarking helps identify whether Plug Power Inc. is trading at a premium or discount relative to its financial performance.

Plug Power's revenue for Q2 2026 was $178.3 million, showing a significant improvement in sales growth, while the company has reduced its quarterly losses significantly under new management.