To the full analysis
Plug Power stock: growth
PLUGPlug Power reported $709.92M in revenue for fiscal 2025, up 12.9% on the prior year.
Daily figure as of 13 Nov 2026
Revenue (Annual rate)
26.8%
per year from 2006 to 2025, per share −2.1%
Earnings (Annual rate)
no data
Free cash flow (Annual rate)
no data
Growth per year by period
What reaches shareholders is growth per share: buybacks lift it, new shares dilute it.
| since 2020 | since 2015 | since 2006 | |
|---|---|---|---|
| Revenue | no data | 21.3% | 26.8% |
| Revenue per share | no data | 0.4% | −2.1% |
| Earnings | no data | no data | no data |
| Earnings per share | no data | no data | no data |
| Free cash flow | no data | no data | no data |
| Free cash flow per share | no data | no data | no data |
Fiscal years at a glance
How revenue and earnings grow
- Revenue
- Earnings
- Free cash flow
Figures as a table
| Year | Revenue | Earnings | Free cash flow |
|---|---|---|---|
| 2006 | $7.84M | −$50.31M | −$47.38M |
| 2007 | $16.27M | −$60.57M | −$52.26M |
| 2008 | $17.9M | −$121.7M | −$58.02M |
| 2009 | $12.29M | −$40.71M | −$38.76M |
| 2010 | $19.47M | −$46.96M | −$41.87M |
| 2011 | $27.63M | −$27.45M | −$34.64M |
| 2012 | $26.11M | −$31.86M | −$20.24M |
| 2013 | $26.6M | −$62.67M | −$26.99M |
| 2014 | $64.23M | −$88.49M | −$42.19M |
| 2015 | $103.29M | −$55.69M | −$50.79M |
| 2016 | $85.93M | −$57.49M | −$87.71M |
| 2017 | $132.93M | −$127.08M | −$104.55M |
| 2018 | $174.63M | −$78.12M | −$77.19M |
| 2019 | $229.98M | −$83.74M | −$65.54M |
| 2020 | −$93.24M | −$596.16M | −$205.7M |
| 2021 | $502.34M | −$459.97M | −$551.44M |
| 2022 | $701.44M | −$724.01M | −$1.08B |
| 2023 | $891.34M | −$1.37B | −$1.8B |
| 2024 | $628.81M | −$2.1B | −$1.06B |
| 2025 | $709.92M | −$1.63B | −$661.48M |
Revenue by segment
How Plug Power Inc. makes its money and how that has shifted. Names are as the company reports them.
- Sale Of Electrolyzers$187.8M26%
- Fuel Delivered To Customers$133.4M19%
- Power Purchase Agreements$107.6M15%
- Sale of cryogenic equipment$95.7M13%
- Services Performed On Fuel Cell Systems And Related Infrastructure$94.5M13%
- Sales Of Fuel Cell Systems$54.0M8%
- Other$37.0M5%
“Other” combines smaller and former segments with revenue the company does not assign to a segment. Names as reported, with abbreviations spelled out for the largest companies. The company split earlier years differently. A history would not be comparable, so only 2025 is shown.
Figures as a table
| 2025 | Share 2025 | |
|---|---|---|
| Sale Of Electrolyzers | $187.78M | 26.5% |
| Fuel Delivered To Customers | $133.41M | 18.8% |
| Power Purchase Agreements | $107.57M | 15.2% |
| Sale of cryogenic equipment | $95.69M | 13.5% |
| Services Performed On Fuel Cell Systems And Related Infrastructure | $94.46M | 13.3% |
| Sales Of Fuel Cell Systems | $54.01M | 7.6% |
| Other | $37M | 5.2% |
| Total revenue | $709.92M | 100% |
Revenue by region
Where Plug Power Inc. generates its revenue.
- United States75%
- Outside the US25%
Figures as a table
| 2024 | 2025 | Share 2025 | |
|---|---|---|---|
| United States | $428.22M | $535.94M | 75.5% |
| Outside the US | $200.6M | $173.98M | 24.5% |
| Total revenue | $628.81M | $709.92M | 100% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Weak, published since 7 Nov 2026 (in the score history since 31 Oct 2006)
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.