Plug Power (PLUG) Financials

$0.88 -0.05 (-5.01%)

As of 02:57 PM Eastern

Annual Income Statements for Plug Power

This table shows Plug Power's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	-2,105	-1,369	-724	-460	-596	-86	-86	-130	-55	151	-89
Consolidated Net Income / (Loss)	-2,105	-1,369	-724	-460	-596	-84	-86	-127	-57	-56	-88
Net Income / (Loss) Continuing Operations	-2,105	-1,618	-724	-460	-596	-84	-86	-127	-55	151	-88
Total Pre-Tax Income	-2,108	-1,376	-723	-476	-627	-84	-95	-127	-58	-56	-89
Total Operating Income	-2,020	-1,344	-680	-437	-584	-48	-76	-102	-52	-59	-38
Total Gross Profit	-625	-508	-194	-171	-469	11	-26	-28	5.02	197	-4.86
Total Revenue	629	891	701	502	-93	230	174	100	83	310	64
Operating Revenue	629	891	701	502	-93	230	174	100	83	103	62
Total Cost of Revenue	1,254	1,399	896	674	376	219	200	128	80	113	69
Operating Cost of Revenue	1,254	1,399	896	674	376	-	-	128	80	113	69
Total Operating Expenses	1,395	1,085	485	266	115	58	50	74	54	49	33
Selling, General & Admin Expense	376	422	364	180	79	43	38	45	34	34	27
Research & Development Expense	77	114	100	65	28	15	13	29	21	15	6.47
Impairment Charge	949	519	5.22	10	6.43	0.00	0.00	-	-	-	-
Restructuring Charge	8.15	0.00	0.00	-	-	-	-	-	-	-	-
Other Special Charges / (Income)	-16	30	16	11	1.16	0.00	0.00	-	-	-	-
Total Other Income / (Expense), net	-88	-33	-44	-39	-43	-36	-18	-25	-6.36	3.31	-51
Interest Expense	63	45	40	43	43	36	23	-	-	-	-
Interest & Investment Income	-1.46	13	-2.46	4.99	0.77	-	-	-	-	-	-
Other Income / (Expense), net	-23	-0.13	-1.14	-0.61	-0.74	0.08	4.29	-25	-6.36	3.31	-51
Income Tax Expense	-2.69	-7.36	0.84	-16	-31	0.00	-9.30	-	-0.39	-	-0.33
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.20	0.00	0.00	-	-	-	-	-	-	-	-
Basic Earnings per Share	($2.68)	($2.30)	($1.25)	($0.82)	($1.68)	($0.36)	($0.39)	($0.60)	($0.32)	($0.32)	($0.56)
Weighted Average Basic Shares Outstanding	785.02M	595.47M	579.72M	558.18M	354.79M	237.15M	218.88M	216.34M	180.62M	176.07M	159.23M
Diluted Earnings per Share	($2.68)	($2.30)	($1.25)	($0.82)	($1.68)	($0.36)	($0.39)	($0.60)	($0.32)	($0.32)	($0.56)
Weighted Average Diluted Shares Outstanding	785.02M	595.47M	579.72M	558.18M	354.79M	237.15M	218.88M	216.34M	180.62M	176.07M	159.23M
Weighted Average Basic & Diluted Shares Outstanding	925.18M	684.26M	593.39M	577.86M	354.79M	237.15M	218.88M	216.34M	180.62M	176.07M	159.23M

This table shows Plug Power's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-1,335	-211	-262	-296	-642	-283	-236	-207	-764	0.00
Consolidated Net Income / (Loss)	-1,336	-211	-262	-296	-642	-283	-236	-207	-223	-171
Net Income / (Loss) Continuing Operations	-1,336	-211	-262	-296	-892	-283	-236	-207	-420	-171
Total Pre-Tax Income	-1,338	-211	-263	-296	-643	-288	-237	-208	-224	-169
Total Operating Income	-1,300	-216	-245	-259	-626	-274	-234	-210	-234	-160
Total Gross Profit	-235	-100	-131	-159	-222	-138	-78	-69	-257	-46
Total Revenue	191	174	143	120	222	199	260	210	221	189
Operating Revenue	191	174	143	120	222	199	260	210	221	189
Total Cost of Revenue	426	274	275	279	444	337	338	280	477	235
Operating Cost of Revenue	426	274	275	279	444	337	338	280	477	235
Total Operating Expenses	1,065	116	113	100	653	136	156	140	156	114
Selling, General & Admin Expense	121	92	85	78	112	105	101	104	102	86
Research & Development Expense	13	20	19	25	30	28	29	27	27	28
Impairment Charge	941	4.19	3.94	0.28	507	0.67	9.99	1.08	-	0.00
Restructuring Charge	-0.00	0.51	1.63	6.01	-	0.00	0.00	0.00	-	-
Other Special Charges / (Income)	-11	0.15	3.77	-9.20	3.71	2.24	15	8.77	-	0.00
Total Other Income / (Expense), net	-39	5.10	-18	-36	-17	-14	-3.47	1.97	-8.16	-9.49
Interest Expense	19	9.15	9.51	25	11	12	11	11	-	9.02
Interest & Investment Income	3.09	-1.27	0.56	-3.84	-10	-7.42	13	17	-	4.93
Other Income / (Expense), net	-23	16	-9.08	-7.00	4.74	4.99	-5.08	-4.77	-	-5.40
Income Tax Expense	-2.57	0.10	-0.38	0.16	-0.45	-4.73	-0.92	-1.27	-0.69	1.52
Basic Earnings per Share	($1.61)	($0.25)	($0.36)	($0.46)	($1.08)	($0.47)	($0.40)	($0.35)	-	($0.30)
Weighted Average Basic Shares Outstanding	785.02M	858.44M	736.85M	641.26M	595.47M	599.47M	598.05M	589.21M	579.72M	578.04M
Diluted Earnings per Share	($1.61)	($0.25)	($0.36)	($0.46)	($1.08)	($0.47)	($0.40)	($0.35)	-	($0.30)
Weighted Average Diluted Shares Outstanding	785.02M	858.44M	736.85M	641.26M	595.47M	599.47M	598.05M	589.21M	579.72M	578.04M
Weighted Average Basic & Diluted Shares Outstanding	925.18M	911.20M	879.64M	742.56M	684.26M	605.50M	601.97M	589.21M	593.39M	582.90M

This table details how cash moves in and out of Plug Power's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	71	-123	-1,791	1,499	1,265	259	42	-33	-11	-82	141
Net Cash From Operating Activities	-729	-1,107	-829	-358	-155	-53	-58	-60	-30	-47	-41
Net Cash From Continuing Operating Activities	-729	-857	-829	-358	-155	-53	-58	-60	-30	-47	-41
Net Income / (Loss) Continuing Operations	-2,105	-1,369	-724	-460	-596	-84	-86	-127	-57	-56	-88
Consolidated Net Income / (Loss)	-2,105	-1,369	-724	-460	-596	-84	-86	-127	-57	-56	-88
Depreciation Expense	61	52	30	21	14	12	12	9.19	4.65	2.01	1.95
Amortization Expense	21	21	25	5.49	18	9.70	7.04	1.36	2.35	0.98	2.39
Non-Cash Adjustments To Reconcile Net Income	1,287	866	200	157	464	18	22	60	-4.70	14	55
Changes in Operating Assets and Liabilities, net	7.47	-427	-360	-82	-56	-9.62	-13	-3.91	26	-8.89	-12
Net Cash From Investing Activities	-402	728	-679	-1,741	-95	-14	-20	-44	-58	-2.02	-0.97
Net Cash From Continuing Investing Activities	-402	728	-679	-1,741	-95	-14	-20	-44	-58	-2.02	-0.97
Purchase of Property, Plant & Equipment	-334	-696	-464	-192	-48	-12	-19	-44	-58	-3.52	-1.41
Acquisitions	0.00	0.00	-57	-155	-47	-2.40	-0.93	-	-	-	-
Purchase of Investments	0.00	0.00	-844	-3,329	0.00	-	-	-	-	-	-
Sale of Property, Plant & Equipment	0.50	1.10	0.00	0.00	-	-	-	-	-	-	0.03
Sale and/or Maturity of Investments	0.00	1,496	724	1,936	0.00	-	-	-	-	-	-
Other Investing Activities, net	-69	-73	-39	-	0.00	0.38	0.00	-	-	-	-
Net Cash From Financing Activities	983	6.12	-77	3,598	1,516	327	120	72	77	-33	183
Net Cash From Continuing Financing Activities	983	6.12	-77	3,598	1,516	446	120	72	77	-33	183
Repayment of Debt	-91	-80	-176	-88	-165	-85	-47	-31	-55	-	-
Issuance of Debt	250	104	123	109	369	361	172	20	71	-	-
Issuance of Common Equity	868	0.00	0.00	3,588	1,272	158	7.20	23	12	-	177
Other Financing Activities, net	-44	-18	-24	-11	40	1.22	-43	45	33	-33	18
Effect of Exchange Rate Changes	218	-	-205	-	-	-0.06	-0.06	0.35	-0.12	-0.02	-
Cash Interest Paid	45	42	36	19	29	19	13	8.79	8.26	0.55	0.43

This table details how cash moves in and out of Plug Power's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	112	32	-67	-5.25	457	-469	63	-174	-1,207	-414
Net Cash From Operating Activities	-131	-175	-255	-168	-243	-239	-348	-277	-307	-117
Net Cash From Continuing Operating Activities	-131	-175	-255	-168	6.85	-239	-348	-277	-307	-117
Net Income / (Loss) Continuing Operations	-1,336	-211	-262	-296	-642	-283	-236	-207	-223	-171
Consolidated Net Income / (Loss)	-1,336	-211	-262	-296	-642	-283	-236	-207	-223	-171
Depreciation Expense	9.48	17	18	17	14	17	11	9.79	10	9.00
Amortization Expense	8.15	3.75	3.66	5.06	11	5.71	5.37	-0.37	7.69	5.50
Non-Cash Adjustments To Reconcile Net Income	1,120	39	59	69	643	105	65	53	48	53
Changes in Operating Assets and Liabilities, net	67	-24	-73	37	-19	-83	-194	-132	-149	-14
Net Cash From Investing Activities	-44	-90	-148	-121	268	-145	510	96	-659	-286
Net Cash From Continuing Investing Activities	-44	-90	-148	-121	268	-145	510	96	-659	-286
Purchase of Property, Plant & Equipment	-40	-90	-106	-99	-186	-171	-159	-180	-124	-167
Other Investing Activities, net	-4.25	-0.66	-42	-22	-5.79	-26	-	-	5.04	-8.44
Net Cash From Financing Activities	204	252	244	283	-8.33	-11	18	7.18	-36	-11
Net Cash From Continuing Financing Activities	204	252	244	283	-8.33	-11	18	7.18	-36	-11
Repayment of Debt	-90	-0.04	21	-21	-74	-0.30	11	-17	-74	-41
Issuance of Debt	196	54	-	0.00	14	13	50	28	39	49
Issuance of Common Equity	75	221	267	305	-	-	-	0.00	-	-
Other Financing Activities, net	24	-23	-44	-1.07	52	-24	-43	-3.92	-0.76	-19
Effect of Exchange Rate Changes	83	44	-	-	-	-74	-	-	-	-
Cash Interest Paid	18	4.35	13	9.11	13	9.11	12	7.87	11	5.66

This table presents Plug Power's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	3,603	4,903	5,764	5,950	2,251	660	390	271	241	209	204
Total Current Assets	1,477	1,787	3,305	4,449	1,603	314	156	120	111	131	193
Cash & Equivalents	206	135	691	2,481	1,312	139	39	25	46	64	146
Restricted Cash	198	217	159	119	64	55	17	14	11	4.01	-
Accounts Receivable	157	244	129	93	43	26	37	24	12	23	16
Inventories, net	683	961	646	269	139	72	48	49	30	33	25
Prepaid Expenses	140	104	150	60	44	21	14	7.93	12	7.86	5.71
Other Current Assets	94	126	62	39	-	-	-	-	-	-	-
Plant, Property, & Equipment, net	866	1,547	809	329	150	15	0.00	0.00	54	1.67	5.31
Total Noncurrent Assets	1,259	1,568	1,650	1,173	498	331	235	151	76	77	6.09
Long-Term Investments	723	881	731	545	258	175	54	29	43	44	0.50
Noncurrent Note & Lease Receivables	52	57	54	32	5.72	1.71	13	10	8.25	7.26	2.38
Intangible Assets	85	189	208	158	39	5.54	3.89	3.79	3.93	4.64	1.49
Other Noncurrent Operating Assets	400	441	409	217	123	140	155	98	12	12	1.72
Total Liabilities & Shareholders' Equity	3,603	4,903	5,764	5,950	2,251	660	390	271	241	209	204
Total Liabilities	1,795	2,005	1,704	1,344	784	528	356	196	146	84	45
Total Current Liabilities	748	965	635	421	222	134	146	116	66	43	26
Short-Term Debt	59	2.72	5.14	15	25	26	17	19	2.96	-	0.59
Accounts Payable	181	258	192	92	50	40	35	42	32	20	10
Accrued Expenses	103	201	156	79	46	14	7.86	11	8.52	9.85	10
Current Deferred Revenue	144	204	132	116	23	12	12	8.63	5.74	4.47	3.32
Other Current Liabilities	261	300	150	117	77	41	75	35	17	7.93	1.56
Total Noncurrent Liabilities	1,047	1,040	1,069	924	562	394	210	81	80	41	19
Long-Term Debt	323	196	198	305	236	196	63	13	21	-	-
Noncurrent Deferred Revenue	59	84	98	67	33	23	28	26	17	14	6.77
Other Noncurrent Operating Liabilities	665	759	773	552	293	175	118	42	41	27	12
Total Equity & Noncontrolling Interests	1,808	2,898	4,060	4,606	1,467	130	2.71	74	85	125	158
Total Preferred & Common Equity	1,734	2,898	4,060	4,606	1,467	130	2.71	74	85	125	158
Total Common Equity	1,734	2,898	4,060	4,606	1,467	130	2.71	74	85	125	158
Common Stock	8,440	7,501	7,303	7,077	3,451	1,510	1,292	1,253	1,139	1,121	1,098
Retained Earnings	-6,594	-4,490	-3,121	-2,397	-1,946	-1,350	-1,260	-1,179	-1,051	-994	-938
Accumulated Other Comprehensive Income / (Loss)	-2.50	-6.80	-26	-1.53	2.45	1.29	1.58	2.19	0.25	0.80	0.90
Other Equity Adjustments	-109	-106	-96	-73	-	-	-	-	-	-	-
Noncontrolling Interest	74	0.00	-	-	-	-	-	-	-	-	-

This table presents Plug Power's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	4,725	4,780	4,847	5,452	5,583	5,654	5,859
Total Current Assets	1,634	1,672	1,767	2,240	2,617	2,977	3,652
Cash & Equivalents	94	62	173	111	579	475	1,748
Restricted Cash	217	223	220	226	173	176	157
Accounts Receivable	167	190	149	163	217	128	95
Inventories, net	886	940	976	1,024	904	776	516
Prepaid Expenses	125	125	119	147	140	156	136
Other Current Assets	145	133	130	112	99	99	50
Plant, Property, & Equipment, net	1,534	1,510	1,569	1,252	1,062	875	607
Total Noncurrent Assets	1,557	1,598	1,512	1,960	1,904	1,802	1,600
Long-Term Investments	782	831	842	905	864	790	692
Noncurrent Note & Lease Receivables	53	55	56	55	56	57	50
Intangible Assets	175	178	183	193	199	204	196
Other Noncurrent Operating Assets	547	534	430	559	535	502	432
Total Liabilities & Shareholders' Equity	4,725	4,780	4,847	5,452	5,583	5,654	5,859
Total Liabilities	1,696	1,791	1,918	1,943	1,844	1,732	1,635
Total Current Liabilities	787	810	911	931	828	678	599
Short-Term Debt	61	3.03	2.79	2.65	0.51	5.23	0.94
Accounts Payable	207	254	286	293	220	188	200
Accrued Expenses	107	113	155	154	166	168	157
Current Deferred Revenue	132	175	180	177	165	137	108
Other Current Liabilities	279	265	288	305	275	179	133
Total Noncurrent Liabilities	909	982	1,007	1,012	1,016	1,055	1,036
Long-Term Debt	152	211	211	196	198	198	259
Noncurrent Deferred Revenue	60	71	76	77	87	83	81
Other Noncurrent Operating Liabilities	698	700	720	739	731	774	696
Total Equity & Noncontrolling Interests	3,029	2,989	2,929	3,509	3,739	3,922	4,224
Total Preferred & Common Equity	3,029	2,989	2,929	3,509	3,739	3,922	4,224
Total Common Equity	3,029	2,989	2,929	3,509	3,739	3,922	4,224
Common Stock	8,398	8,145	7,830	7,462	7,416	7,367	7,251
Retained Earnings	-5,259	-5,048	-4,786	-3,847	-3,564	-3,327	-2,897
Accumulated Other Comprehensive Income / (Loss)	-1.63	-1.95	-9.08	-1.62	-14	-19	-35
Other Equity Adjustments	-108	-107	-107	-104	-99	-99	-

This table displays calculated financial ratios and metrics derived from Plug Power's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-29.45%	27.07%	39.63%	638.78%	-140.54%	32.01%	73.95%	20.93%	-73.27%	382.43%	141.46%
EBITDA Growth	-54.41%	-103.13%	-51.96%	25.49%	-2,033.13%	51.40%	54.28%	-129.03%	3.46%	37.61%	-36.50%
EBIT Growth	-52.07%	-97.40%	-55.43%	25.13%	-1,130.57%	34.12%	43.22%	-119.56%	-3.93%	37.30%	-34.43%
NOPAT Growth	-50.34%	-97.71%	-55.39%	25.14%	-1,126.98%	37.71%	24.91%	-97.58%	12.68%	-55.55%	-30.96%
Net Income Growth	-53.77%	-89.06%	-57.41%	22.84%	-611.89%	2.18%	32.63%	-121.06%	-3.23%	37.06%	-41.20%
EPS Growth	-16.52%	-84.00%	-52.44%	51.19%	-366.67%	7.69%	35.00%	-87.50%	0.00%	42.86%	31.71%
Operating Cash Flow Growth	34.15%	-33.54%	-131.35%	-130.37%	-191.57%	8.61%	3.04%	-103.07%	37.31%	-15.92%	-51.71%
Free Cash Flow Firm Growth	61.43%	-22.55%	-114.29%	-16.78%	-3,858.62%	32.70%	78.81%	-130.49%	5.32%	28.80%	-694.89%
Invested Capital Growth	-42.94%	53.47%	209.09%	319.56%	691.17%	-461.29%	-88.59%	115.11%	26.78%	5.82%	169.28%
Revenue Q/Q Growth	-4.65%	0.16%	9.16%	1,502.98%	-130.34%	16.16%	22.23%	287.21%	-77.88%	259.01%	26.42%
EBITDA Q/Q Growth	-56.53%	-43.39%	-3.86%	39.99%	-837.03%	47.08%	25.72%	-0.33%	14.56%	69.09%	-380.14%
EBIT Q/Q Growth	-52.25%	-41.24%	-5.28%	38.75%	-566.65%	32.07%	18.28%	-0.18%	9.62%	67.98%	-443.00%
NOPAT Q/Q Growth	-50.04%	-41.22%	-5.10%	38.78%	-423.76%	23.67%	-2.91%	-6.02%	19.13%	-22.67%	18.76%
Net Income Q/Q Growth	-49.11%	-44.10%	-4.41%	38.77%	-363.56%	8.51%	-6.07%	-0.18%	9.44%	-47.93%	19.83%
EPS Q/Q Growth	-24.65%	0.00%	0.00%	55.43%	-330.77%	12.20%	-2.63%	1.64%	11.11%	-166.67%	39.13%
Operating Cash Flow Q/Q Growth	13.26%	5.46%	-55.84%	-3.08%	1.62%	22.17%	-184.22%	25.94%	25.25%	-0.47%	-2.05%
Free Cash Flow Firm Q/Q Growth	43.29%	8.55%	-18.24%	0.17%	-109.98%	49.17%	-18.09%	15.18%	-285.67%	52.47%	-31.89%
Invested Capital Q/Q Growth	-50.51%	-7.26%	29.57%	34.21%	-49.74%	-190.37%	-87.62%	-45.83%	-40.24%	-78.03%	43.09%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-99.38%	-56.97%	-27.71%	-34.10%	0.00%	4.63%	-14.93%	-28.05%	6.06%	63.47%	-7.57%
EBITDA Margin	-311.94%	-142.52%	-89.16%	-81.92%	0.00%	-11.26%	-30.58%	-116.35%	-61.43%	-17.01%	-131.52%
Operating Margin	-321.21%	-150.73%	-96.88%	-87.06%	0.00%	-20.70%	-43.88%	-101.64%	-62.21%	-19.04%	-59.06%
EBIT Margin	-324.93%	-150.75%	-97.04%	-87.18%	0.00%	-20.67%	-41.42%	-126.89%	-69.89%	-17.97%	-138.27%
Profit (Net Income) Margin	-334.74%	-153.57%	-103.22%	-91.56%	0.00%	-36.41%	-49.14%	-126.89%	-69.41%	-17.97%	-137.77%
Tax Burden Percent	99.87%	99.46%	100.12%	96.60%	95.08%	100.00%	90.21%	100.00%	99.32%	100.00%	99.63%
Interest Burden Percent	103.15%	102.42%	106.24%	108.73%	107.19%	176.17%	131.53%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-96.57%	-61.08%	-59.17%	-125.80%	0.00%	0.00%	-249.92%	-253.12%	-225.68%	-301.35%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-18.83%	-39.00%	-52.13%	-120.29%	0.00%	0.00%	-152.49%	-154.11%	-202.96%	-290.19%	0.00%
Return on Net Nonoperating Assets (RNNOA)	7.11%	21.74%	42.46%	110.65%	0.00%	0.00%	92.43%	102.79%	173.56%	262.31%	0.00%
Return on Equity (ROE)	-89.46%	-39.34%	-16.71%	-15.15%	-74.61%	-101.26%	-157.50%	-150.33%	-52.12%	-39.04%	-122.96%
Cash Return on Invested Capital (CROIC)	-41.89%	-103.27%	-161.39%	-248.81%	-553.46%	0.00%	-90.90%	-326.18%	-249.29%	-307.00%	-443.71%
Operating Return on Assets (OROA)	-48.04%	-25.19%	-11.62%	-10.68%	0.00%	-9.06%	-21.83%	-49.68%	-25.71%	-26.93%	-74.16%
Return on Assets (ROA)	-49.49%	-25.66%	-12.36%	-11.22%	0.00%	-15.95%	-25.90%	-49.68%	-25.53%	-26.93%	-73.89%
Return on Common Equity (ROCE)	-88.06%	-39.34%	-16.71%	-15.15%	-74.56%	-81.18%	-110.63%	-141.15%	-49.57%	-38.72%	-119.95%
Return on Equity Simple (ROE_SIMPLE)	-121.38%	-47.23%	-17.83%	-9.99%	-40.64%	-64.47%	-3,155.47%	-172.56%	-67.56%	-44.65%	-55.90%
Net Operating Profit after Tax (NOPAT)	-1,414	-940	-476	-306	-409	-33	-54	-71	-36	-41	-27
NOPAT Margin	-224.85%	-105.51%	-67.82%	-60.94%	0.00%	-14.49%	-30.71%	-71.15%	-43.54%	-13.33%	-41.34%
Net Nonoperating Expense Percent (NNEP)	-77.74%	-22.09%	-7.04%	-5.51%	-24.63%	-57.01%	-97.43%	-99.01%	-22.71%	-11.16%	-82.67%
Return On Investment Capital (ROIC_SIMPLE)	-64.56%	-30.36%	-11.16%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	199.38%	156.97%	127.71%	134.10%	0.00%	95.37%	114.93%	128.05%	96.53%	36.53%	107.57%
SG&A Expenses to Revenue	59.81%	47.40%	51.88%	35.80%	0.00%	18.79%	21.63%	44.94%	41.40%	11.03%	41.42%
R&D to Revenue	12.28%	12.76%	14.20%	12.89%	0.00%	6.55%	7.32%	28.65%	25.57%	4.82%	10.07%
Operating Expenses to Revenue	221.84%	121.75%	69.17%	52.95%	0.00%	25.33%	28.95%	73.59%	65.68%	15.85%	51.49%
Earnings before Interest and Taxes (EBIT)	-2,043	-1,344	-681	-438	-585	-48	-72	-127	-58	-56	-89
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,962	-1,270	-625	-412	-552	-26	-53	-117	-51	-53	-84
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.12	0.94	1.78	3.53	9.61	6.35	106.66	7.32	2.55	3.04	3.28
Price to Tangible Book Value (P/TBV)	1.18	1.01	2.00	3.85	10.40	7.14	0.00	8.92	2.97	3.40	3.31
Price to Revenue (P/Rev)	3.09	3.06	10.28	32.39	0.00	3.59	1.66	5.38	2.61	1.23	8.09
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.52	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	39.70%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.19	0.91	3.59	30.68	135.78	0.00	66.36	13.11	8.36	19.10	28.11
Enterprise Value to Revenue (EV/Rev)	2.02	1.90	6.22	24.00	0.00	2.95	1.67	5.03	1.80	0.87	5.83
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.07	0.05	0.07	0.18	1.70	2.33	0.43	0.25	0.00	0.00
Long-Term Debt to Equity	0.18	0.07	0.05	0.07	0.16	1.50	1.84	0.18	0.22	0.00	0.00
Financial Leverage	-0.38	-0.56	-0.81	-0.92	-0.95	-1.07	-0.61	-0.67	-0.86	-0.90	-1.04
Leverage Ratio	1.81	1.53	1.35	1.35	1.82	6.35	6.08	3.03	2.04	1.45	1.66
Compound Leverage Factor	1.86	1.57	1.44	1.47	1.95	11.18	8.00	3.03	2.04	1.45	1.66
Debt to Total Capital	17.45%	6.43%	4.76%	6.51%	15.11%	62.94%	70.01%	30.18%	20.08%	0.00%	0.37%
Short-Term Debt to Total Capital	2.70%	0.09%	0.12%	0.31%	1.47%	7.48%	14.67%	17.62%	2.50%	0.00%	0.37%
Long-Term Debt to Total Capital	14.75%	6.34%	4.64%	6.20%	13.64%	55.46%	55.33%	12.56%	17.58%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.36%	0.00%	0.00%	0.00%	0.00%	0.33%	27.63%	0.67%	8.12%	0.92%	0.72%
Common Equity to Total Capital	79.19%	93.57%	95.24%	93.49%	84.89%	36.73%	2.37%	69.16%	71.80%	99.08%	98.91%
Debt to EBITDA	-0.19	-0.16	-0.32	-0.78	-0.47	-8.60	-1.50	-0.28	-0.47	0.00	-0.01
Net Debt to EBITDA	0.38	0.81	4.55	10.24	2.49	5.67	0.56	0.31	1.51	0.00	1.73
Long-Term Debt to EBITDA	-0.16	-0.15	-0.32	-0.74	-0.43	-7.58	-1.19	-0.11	-0.41	0.00	0.00
Debt to NOPAT	-0.27	-0.21	-0.43	-1.05	-0.64	-6.68	-1.50	-0.45	-0.66	0.00	-0.02
Net Debt to NOPAT	0.53	1.10	5.98	13.76	3.36	4.41	0.56	0.50	2.13	0.00	5.50
Long-Term Debt to NOPAT	-0.23	-0.21	-0.42	-1.00	-0.58	-5.88	-1.18	-0.19	-0.58	0.00	0.00
Altman Z-Score	-3.37	-0.99	2.07	7.35	9.41	-1.49	-4.17	-5.61	-5.45	-2.81	0.40
Noncontrolling Interest Sharing Ratio	1.56%	0.00%	0.00%	0.00%	0.07%	19.83%	29.76%	6.11%	4.88%	0.81%	2.45%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.97	1.85	5.20	10.58	7.21	2.34	1.06	1.03	1.67	3.07	7.50
Quick Ratio	0.48	0.39	3.60	9.42	6.10	1.23	0.52	0.42	0.87	2.03	6.31
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-613	-1,590	-1,297	-605	-518	-13	-19	-92	-40	-42	-59
Operating Cash Flow to CapEx	-218.32%	-159.21%	-178.63%	-186.22%	-322.14%	-436.55%	-312.99%	-135.66%	-51.03%	-1,343.01%	-2,957.22%
Free Cash Flow to Firm to Interest Expense	-9.75	-35.18	-32.42	-14.01	-12.11	-0.36	-0.86	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-11.58	-24.48	-20.70	-8.29	-3.63	-1.47	-2.56	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-16.89	-39.86	-32.29	-12.74	-4.76	-1.81	-3.38	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.17	0.12	0.12	0.00	0.44	0.53	0.39	0.37	1.50	0.54
Accounts Receivable Turnover	3.14	4.78	6.32	7.40	0.00	7.29	5.66	5.55	4.79	16.00	6.18
Inventory Turnover	1.53	1.74	1.96	3.30	3.55	3.65	4.14	3.26	2.55	3.94	3.93
Fixed Asset Turnover	0.52	0.76	1.23	2.10	0.00	0.00	0.00	0.00	2.97	88.80	12.13
Accounts Payable Turnover	5.71	6.22	6.30	9.45	8.31	5.83	5.19	3.44	3.04	7.39	10.41
Days Sales Outstanding (DSO)	116.40	76.42	57.79	49.31	0.00	50.09	64.45	65.79	76.19	22.82	59.09
Days Inventory Outstanding (DIO)	239.30	209.60	186.37	110.68	102.74	100.10	88.13	112.02	143.12	92.70	92.83
Days Payable Outstanding (DPO)	63.87	58.66	57.90	38.61	43.94	62.57	70.36	105.98	120.00	49.41	35.08
Cash Conversion Cycle (CCC)	291.82	227.36	186.26	121.38	0.00	87.61	82.23	71.82	99.30	66.11	116.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,064	1,864	1,215	393	94	-16	4.39	38	18	14	13
Invested Capital Turnover	0.43	0.58	0.87	2.06	0.00	-40.14	8.14	3.56	5.18	22.61	-21.76
Increase / (Decrease) in Invested Capital	-801	650	822	299	110	-20	-34	21	3.77	0.78	33
Enterprise Value (EV)	1,270	1,691	4,365	12,058	12,720	679	291	504	149	269	374
Market Capitalization	1,941	2,725	7,211	16,271	14,093	825	289	539	217	380	519
Book Value per Share	$1.90	$4.79	$6.97	$7.99	$3.53	$0.50	$0.01	$0.32	$0.47	$0.69	$0.91
Tangible Book Value per Share	$1.81	$4.47	$6.18	$7.33	$3.26	$0.44	($0.04)	$0.26	$0.40	$0.62	$0.91
Total Capital	2,190	3,097	4,263	4,926	1,728	354	115	106	119	126	160
Total Debt	382	199	203	321	261	223	80	32	24	0.00	0.59
Total Long-Term Debt	323	196	198	305	236	196	63	13	21	0.00	0.00
Net Debt	-744	-1,034	-2,845	-4,213	-1,373	-147	-30	-36	-77	-112	-146
Capital Expenditures (CapEx)	334	695	464	192	48	12	19	44	58	3.52	1.38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	385	473	358	55	30	12	-30	-16	-9.82	21	21
Debt-free Net Working Capital (DFNWC)	788	825	2,675	4,043	1,406	206	26	23	47	89	168
Net Working Capital (NWC)	729	822	2,670	4,028	1,381	180	9.25	3.89	44	89	167
Net Nonoperating Expense (NNE)	691	428	248	154	187	50	32	56	21	14	62
Net Nonoperating Obligations (NNO)	-744	-1,034	-2,845	-4,213	-1,373	-147	-30	-36	-77	-112	-146
Total Depreciation and Amortization (D&A)	82	73	55	26	33	22	19	11	7.00	2.99	4.34
Debt-free, Cash-free Net Working Capital to Revenue	61.15%	53.10%	51.01%	10.96%	0.00%	5.15%	-17.19%	-16.05%	-11.86%	6.63%	33.35%
Debt-free Net Working Capital to Revenue	125.35%	92.54%	381.38%	804.87%	0.00%	89.64%	14.95%	22.61%	57.25%	28.57%	260.98%
Net Working Capital to Revenue	115.93%	92.24%	380.65%	801.84%	0.00%	78.14%	5.31%	3.88%	53.67%	28.57%	260.06%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($2.68)	($2.30)	($1.25)	($0.82)	$0.00	($0.36)	($0.36)	($0.60)	($0.32)	($0.32)	($0.56)
Adjusted Weighted Average Basic Shares Outstanding	785.02M	595.47M	579.72M	558.18M	0.00	321.29M	233.84M	228.59M	191.19M	180.11M	173.41M
Adjusted Diluted Earnings per Share	($2.68)	($2.30)	($1.25)	($0.82)	$0.00	($0.36)	($0.36)	($0.60)	($0.32)	($0.32)	($0.56)
Adjusted Weighted Average Diluted Shares Outstanding	785.02M	595.47M	579.72M	558.18M	0.00	321.29M	233.84M	228.59M	191.19M	180.11M	173.41M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($0.36)	($0.36)	($0.60)	($0.32)	($0.32)	($0.56)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	925.18M	684.26M	593.39M	577.86M	0.00	237.15M	218.88M	216.34M	180.62M	176.07M	159.23M
Normalized Net Operating Profit after Tax (NOPAT)	-755	-556	-461	-291	-404	-33	-54	-71	-36	-41	-27
Normalized NOPAT Margin	-120.03%	-62.40%	-65.65%	-57.96%	0.00%	-14.49%	-30.71%	-71.15%	-43.54%	-13.33%	-41.34%
Pre Tax Income Margin	-335.17%	-154.40%	-103.10%	-94.79%	0.00%	-36.41%	-54.47%	-126.89%	-69.89%	-17.97%	-138.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-32.48	-29.73	-17.01	-10.13	-13.66	-1.31	-3.17	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-22.48	-20.81	-11.89	-7.08	-9.55	-0.92	-2.35	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-37.79	-45.10	-28.60	-14.58	-14.79	-1.65	-3.99	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-27.78	-36.18	-23.48	-11.53	-10.68	-1.26	-3.17	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.32%	-0.44%	-13.09%

This table displays calculated financial ratios and metrics derived from Plug Power's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-13.81%	-12.57%	-44.90%	-42.81%	0.64%	5.35%	72.00%	49.35%	36.34%	31.06%
EBITDA Growth	-118.78%	27.10%	-4.51%	-19.30%	-176.31%	-63.77%	-61.59%	-60.05%	-11.25%	-64.60%
EBIT Growth	-112.89%	25.40%	-6.21%	-24.16%	-165.76%	-62.88%	-59.96%	-54.19%	-16.27%	-67.30%
NOPAT Growth	-107.63%	21.10%	-4.63%	-23.65%	-167.79%	-71.50%	-59.17%	-50.76%	-16.44%	-61.91%
Net Income Growth	-107.91%	25.51%	-10.97%	-43.19%	-187.47%	-66.01%	-36.41%	-32.00%	-15.84%	-60.08%
EPS Growth	-49.07%	46.81%	10.00%	-31.43%	0.00%	-56.67%	-33.33%	0.00%	0.00%	-57.89%
Operating Cash Flow Growth	45.91%	26.78%	26.82%	39.43%	20.85%	-104.31%	-78.33%	-31.92%	-3,068.72%	-14.79%
Free Cash Flow Firm Growth	89.97%	77.04%	63.24%	45.45%	-10.38%	-67.13%	-85.87%	-96.50%	-124.02%	-330.97%
Invested Capital Growth	-42.94%	6.92%	14.94%	25.86%	53.47%	114.41%	134.11%	147.96%	209.09%	220.16%
Revenue Q/Q Growth	10.21%	21.19%	19.20%	-45.87%	11.80%	-23.63%	23.73%	-4.74%	17.02%	24.70%
EBITDA Q/Q Growth	-625.39%	22.50%	5.17%	59.31%	-141.72%	-11.10%	-8.26%	5.39%	-43.27%	-9.62%
EBIT Q/Q Growth	-559.04%	20.92%	4.75%	57.11%	-130.93%	-12.58%	-11.35%	8.20%	-41.53%	-10.56%
NOPAT Q/Q Growth	-501.20%	11.65%	5.68%	58.56%	-128.46%	-17.16%	-11.46%	10.24%	-46.32%	-8.74%
Net Income Q/Q Growth	-532.50%	19.50%	11.31%	53.96%	-126.61%	-19.92%	-14.44%	7.56%	-30.87%	1.46%
EPS Q/Q Growth	-544.00%	30.56%	21.74%	57.41%	-129.79%	-17.50%	-14.29%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	24.98%	31.33%	-51.88%	30.88%	-1.57%	31.37%	-25.70%	9.67%	-162.17%	40.09%
Free Cash Flow Firm Q/Q Growth	62.42%	34.38%	22.85%	47.27%	13.98%	-5.04%	-14.49%	-6.70%	-30.25%	-16.82%
Invested Capital Q/Q Growth	-50.51%	2.99%	9.38%	2.34%	-7.26%	10.72%	19.77%	24.79%	29.57%	20.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	-122.49%	-57.58%	-91.56%	-132.27%	-100.06%	-69.43%	-30.03%	-33.00%	-116.26%	-24.42%
EBITDA Margin	-681.46%	-103.54%	-161.91%	-203.51%	-268.46%	-124.16%	-85.36%	-97.56%	-97.78%	-79.87%
Operating Margin	-678.75%	-124.43%	-170.68%	-215.70%	-281.74%	-137.87%	-89.88%	-99.77%	-105.89%	-84.69%
EBIT Margin	-690.66%	-115.50%	-177.02%	-221.52%	-279.61%	-135.36%	-91.83%	-102.04%	-105.89%	-87.55%
Profit (Net Income) Margin	-697.57%	-121.55%	-183.00%	-245.94%	-289.16%	-142.66%	-90.86%	-98.23%	-101.23%	-90.53%
Tax Burden Percent	99.81%	100.05%	99.86%	100.06%	99.93%	98.36%	99.61%	99.39%	99.69%	100.90%
Interest Burden Percent	101.19%	105.19%	103.53%	110.96%	103.49%	107.15%	99.33%	96.86%	95.90%	102.48%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-204.06%	-27.62%	-41.91%	-70.67%	-114.18%	-58.27%	-42.72%	-50.62%	-64.67%	-61.92%
ROIC Less NNEP Spread (ROIC-NNEP)	-156.15%	-22.59%	-35.47%	-64.01%	-103.65%	-54.44%	-40.07%	-48.71%	-62.98%	-60.39%
Return on Net Nonoperating Assets (RNNOA)	58.99%	8.22%	14.89%	32.02%	57.78%	33.68%	27.22%	36.37%	51.29%	52.07%
Return on Equity (ROE)	-145.08%	-19.40%	-27.02%	-38.66%	-56.40%	-24.59%	-15.51%	-14.24%	-13.38%	-9.85%
Cash Return on Invested Capital (CROIC)	-41.89%	-51.99%	-64.26%	-79.86%	-103.27%	-117.96%	-125.51%	-134.41%	-161.39%	-178.36%
Operating Return on Assets (OROA)	-102.12%	-14.97%	-23.38%	-33.81%	-46.73%	-21.30%	-14.28%	-13.73%	-12.68%	-9.70%
Return on Assets (ROA)	-103.14%	-15.75%	-24.17%	-37.53%	-48.32%	-22.45%	-14.13%	-13.22%	-12.12%	-10.03%
Return on Common Equity (ROCE)	-142.81%	-19.40%	-27.02%	-38.66%	-56.40%	-24.59%	-15.51%	-14.24%	-13.38%	-9.85%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-46.60%	-49.66%	-49.78%	0.00%	-27.07%	-22.39%	-19.74%	0.00%	-16.42%
Net Operating Profit after Tax (NOPAT)	-910	-151	-171	-182	-438	-192	-164	-147	-164	-112
NOPAT Margin	-475.12%	-87.10%	-119.48%	-150.99%	-197.22%	-96.51%	-62.91%	-69.84%	-74.12%	-59.28%
Net Nonoperating Expense Percent (NNEP)	-47.92%	-5.03%	-6.45%	-6.66%	-10.53%	-3.83%	-2.65%	-1.90%	-1.70%	-1.53%
Return On Investment Capital (ROIC_SIMPLE)	-41.54%	-	-	-	-14.15%	-	-	-	-3.84%	-
Cost of Revenue to Revenue	222.49%	157.58%	191.56%	232.27%	200.06%	169.43%	130.03%	133.00%	216.26%	124.42%
SG&A Expenses to Revenue	63.42%	52.72%	59.40%	64.82%	50.35%	53.07%	38.88%	49.46%	45.99%	45.37%
R&D to Revenue	6.94%	11.35%	13.21%	21.02%	13.64%	13.92%	11.24%	12.62%	12.44%	14.90%
Operating Expenses to Revenue	556.26%	66.85%	79.12%	83.43%	293.99%	68.44%	59.84%	66.77%	70.54%	60.27%
Earnings before Interest and Taxes (EBIT)	-1,322	-201	-254	-266	-621	-269	-239	-215	-234	-165
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1,305	-180	-232	-245	-596	-247	-222	-205	-216	-151
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.12	0.66	0.58	0.80	0.94	1.30	1.67	1.77	1.78	2.88
Price to Tangible Book Value (P/TBV)	1.18	0.70	0.62	0.86	1.01	1.49	1.90	2.01	2.00	3.20
Price to Revenue (P/Rev)	3.09	3.01	2.53	2.94	3.06	5.14	7.09	9.02	10.28	18.92
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.19	0.52	0.40	0.70	0.91	1.53	2.38	3.00	3.59	9.46
Enterprise Value to Revenue (EV/Rev)	2.02	1.68	1.21	1.66	1.90	3.46	4.91	5.90	6.22	13.81
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.07	0.07	0.07	0.07	0.06	0.05	0.05	0.05	0.06
Long-Term Debt to Equity	0.18	0.05	0.07	0.07	0.07	0.06	0.05	0.05	0.05	0.06
Financial Leverage	-0.38	-0.36	-0.42	-0.50	-0.56	-0.62	-0.68	-0.75	-0.81	-0.86
Leverage Ratio	1.81	1.56	1.54	1.53	1.53	1.46	1.40	1.36	1.35	1.30
Compound Leverage Factor	1.83	1.64	1.59	1.70	1.59	1.57	1.39	1.32	1.30	1.33
Debt to Total Capital	17.45%	6.57%	6.68%	6.80%	6.43%	5.37%	5.05%	4.93%	4.76%	5.80%
Short-Term Debt to Total Capital	2.70%	1.89%	0.09%	0.09%	0.09%	0.07%	0.01%	0.13%	0.12%	0.02%
Long-Term Debt to Total Capital	14.75%	4.67%	6.59%	6.71%	6.34%	5.29%	5.03%	4.80%	4.64%	5.78%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	79.19%	93.43%	93.32%	93.20%	93.57%	94.63%	94.95%	95.07%	95.24%	94.20%
Debt to EBITDA	-0.19	-0.17	-0.16	-0.16	-0.16	-0.22	-0.26	-0.29	-0.32	-0.43
Net Debt to EBITDA	0.38	0.70	0.68	0.78	0.81	1.69	2.47	3.45	4.55	5.46
Long-Term Debt to EBITDA	-0.16	-0.12	-0.16	-0.16	-0.15	-0.22	-0.25	-0.28	-0.32	-0.43
Debt to NOPAT	-0.27	-0.23	-0.22	-0.22	-0.21	-0.30	-0.34	-0.39	-0.43	-0.57
Net Debt to NOPAT	0.53	0.93	0.92	1.05	1.10	2.25	3.28	4.58	5.98	7.26
Long-Term Debt to NOPAT	-0.23	-0.16	-0.21	-0.22	-0.21	-0.29	-0.34	-0.38	-0.42	-0.57
Altman Z-Score	-2.71	-0.64	-0.71	-0.45	-0.50	0.71	1.54	2.08	2.32	4.41
Noncontrolling Interest Sharing Ratio	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.97	2.08	2.07	1.94	1.85	2.41	3.16	4.39	5.20	6.09
Quick Ratio	0.48	0.33	0.31	0.35	0.39	0.79	1.57	2.61	3.60	4.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-109	-290	-442	-574	-1,088	-1,264	-1,204	-1,051	-985	-757
Operating Cash Flow to CapEx	-331.53%	-194.99%	-239.75%	-169.95%	-131.24%	-139.31%	-219.37%	-153.88%	-248.17%	-69.92%
Free Cash Flow to Firm to Interest Expense	-5.78	-31.74	-46.52	-22.61	-94.71	-107.14	-106.86	-98.73	0.00	-83.88
Operating Cash Flow to Interest Expense	-6.96	-19.12	-26.78	-6.61	-21.13	-20.24	-30.90	-26.00	0.00	-12.96
Operating Cash Flow Less CapEx to Interest Expense	-9.05	-28.93	-37.96	-10.50	-37.23	-34.77	-44.99	-42.90	0.00	-31.50
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.15	0.13	0.13	0.15	0.17	0.16	0.16	0.13	0.12	0.11
Accounts Receivable Turnover	3.14	3.99	3.37	5.80	4.78	6.88	6.33	8.33	6.32	5.64
Inventory Turnover	1.53	1.33	1.45	1.60	1.74	1.86	1.99	2.12	1.96	1.79
Fixed Asset Turnover	0.52	0.47	0.53	0.66	0.76	0.96	1.18	1.29	1.23	1.65
Accounts Payable Turnover	5.71	5.09	5.63	5.91	6.22	5.81	7.26	8.81	6.30	4.98
Days Sales Outstanding (DSO)	116.40	91.43	108.38	62.98	76.42	53.04	57.69	43.80	57.79	64.71
Days Inventory Outstanding (DIO)	239.30	274.00	252.05	228.52	209.60	196.32	183.02	172.18	186.37	203.81
Days Payable Outstanding (DPO)	63.87	71.75	64.82	61.80	58.66	62.80	50.31	41.43	57.90	73.28
Cash Conversion Cycle (CCC)	291.82	293.68	295.61	229.70	227.36	186.56	190.40	174.56	186.26	195.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,064	2,149	2,087	1,908	1,864	2,010	1,816	1,516	1,215	938
Invested Capital Turnover	0.43	0.32	0.35	0.47	0.58	0.60	0.68	0.72	0.87	1.04
Increase / (Decrease) in Invested Capital	-801	139	271	392	650	1,073	1,040	905	822	645
Enterprise Value (EV)	1,270	1,108	828	1,333	1,691	3,076	4,316	4,549	4,365	8,872
Market Capitalization	1,941	1,988	1,730	2,354	2,725	4,575	6,240	6,955	7,211	12,158
Book Value per Share	$1.90	$3.44	$4.02	$4.28	$4.79	$5.83	$6.23	$6.61	$6.97	$7.30
Tangible Book Value per Share	$1.81	$3.24	$3.78	$4.01	$4.47	$5.10	$5.48	$5.84	$6.18	$6.56
Total Capital	2,190	3,242	3,203	3,143	3,097	3,708	3,938	4,125	4,263	4,483
Total Debt	382	213	214	214	199	199	199	203	203	260
Total Long-Term Debt	323	152	211	211	196	196	198	198	198	259
Net Debt	-744	-880	-902	-1,021	-1,034	-1,499	-1,923	-2,406	-2,845	-3,286
Capital Expenditures (CapEx)	40	90	106	99	185	171	159	180	124	167
Debt-free, Cash-free Net Working Capital (DFCFNWC)	385	598	581	465	473	519	532	486	358	199
Debt-free Net Working Capital (DFNWC)	788	908	866	858	825	1,312	1,790	2,305	2,675	3,053
Net Working Capital (NWC)	729	847	863	855	822	1,309	1,789	2,300	2,670	3,052
Net Nonoperating Expense (NNE)	426	60	91	114	204	92	73	60	60	59
Net Nonoperating Obligations (NNO)	-744	-880	-902	-1,021	-1,034	-1,499	-1,923	-2,406	-2,845	-3,286
Total Depreciation and Amortization (D&A)	18	21	22	22	25	22	17	9.42	18	14
Debt-free, Cash-free Net Working Capital to Revenue	61.15%	90.64%	84.83%	58.08%	53.10%	58.29%	60.43%	63.03%	51.01%	31.00%
Debt-free Net Working Capital to Revenue	125.35%	137.75%	126.49%	107.06%	92.54%	147.43%	203.44%	298.99%	381.38%	475.13%
Net Working Capital to Revenue	115.93%	128.44%	126.05%	106.72%	92.24%	147.13%	203.38%	298.32%	380.65%	474.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.61)	($0.25)	($0.36)	($0.46)	($1.08)	($0.47)	($0.40)	$0.00	$0.00	($0.30)
Adjusted Weighted Average Basic Shares Outstanding	785.02M	858.44M	736.85M	641.26M	595.47M	599.47M	598.05M	589.21M	579.72M	578.04M
Adjusted Diluted Earnings per Share	($1.61)	($0.25)	($0.36)	($0.46)	($1.08)	($0.47)	($0.40)	$0.00	$0.00	($0.30)
Adjusted Weighted Average Diluted Shares Outstanding	785.02M	858.44M	736.85M	641.26M	595.47M	599.47M	598.05M	589.21M	579.72M	578.04M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	925.18M	911.20M	879.64M	742.56M	684.26M	605.50M	601.97M	589.21M	593.39M	582.90M
Normalized Net Operating Profit after Tax (NOPAT)	-258	-148	-165	-184	-80	-190	-146	-140	-164	-112
Normalized NOPAT Margin	-134.99%	-85.15%	-114.92%	-152.68%	-36.22%	-95.49%	-56.11%	-66.56%	-74.12%	-59.28%
Pre Tax Income Margin	-698.91%	-121.49%	-183.26%	-245.80%	-289.36%	-145.04%	-91.21%	-98.83%	-101.55%	-89.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-70.08	-21.93	-26.68	-10.50	-54.09	-22.79	-21.21	-20.15	0.00	-18.31
NOPAT to Interest Expense	-48.21	-16.54	-18.01	-7.16	-38.15	-16.25	-14.53	-13.79	0.00	-12.40
EBIT Less CapEx to Interest Expense	-72.18	-31.74	-37.85	-14.39	-70.19	-37.32	-35.30	-37.04	0.00	-36.85
NOPAT Less CapEx to Interest Expense	-50.31	-26.35	-29.18	-11.05	-54.25	-30.78	-28.62	-30.69	0.00	-30.94
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Plug Power's Financials

When does Plug Power's fiscal year end?

According to the most recent income statement we have on file, Plug Power's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Plug Power's net income changed over the last 10 years?

Plug Power's net income appears to be on an upward trend, with a most recent value of -$2.10 billion in 2024, rising from -$88.49 million in 2014. The previous period was -$1.37 billion in 2023. See Plug Power's forecast for analyst expectations on what’s next for the company.

What is Plug Power's operating income?

Plug Power's total operating income in 2024 was -$2.02 billion, based on the following breakdown:

Total Gross Profit: -$624.89 million
Total Operating Expenses: $1.39 billion

How has Plug Power revenue changed over the last 10 years?

Over the last 10 years, Plug Power's total revenue changed from $64.23 million in 2014 to $628.81 million in 2024, a change of 879.0%.

How much debt does Plug Power have?

Plug Power's total liabilities were at $1.80 billion at the end of 2024, a 10.5% decrease from 2023, and a 3,914.5% increase since 2014.

How much cash does Plug Power have?

In the past 10 years, Plug Power's cash and equivalents has ranged from $24.83 million in 2017 to $2.48 billion in 2021, and is currently $205.69 million as of their latest financial filing in 2024.

How has Plug Power's book value per share changed over the last 10 years?

Over the last 10 years, Plug Power's book value per share changed from 0.91 in 2014 to 1.90 in 2024, a change of 108.1%.

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This page (NASDAQ:PLUG) was last updated on 5/30/2025 by MarketBeat.com Staff

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Plug Power (PLUG) Financials

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Plug Power (PLUG) Financials

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