Plug Power (PLUG) Financials

$1.06 -0.07 (-6.19%)

As of 04/14/2025 04:00 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	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-89	151	-55	-130	-86	-86	-596	-460	-724	-1,369	-2,105
Consolidated Net Income / (Loss)	-88	-56	-57	-127	-86	-84	-596	-460	-724	-1,369	-2,105
Net Income / (Loss) Continuing Operations	-88	151	-55	-127	-86	-84	-596	-460	-724	-1,618	-2,105
Total Pre-Tax Income	-89	-56	-58	-127	-95	-84	-627	-476	-723	-1,376	-2,108
Total Operating Income	-38	-59	-52	-102	-76	-48	-584	-437	-680	-1,344	-2,020
Total Gross Profit	-4.86	197	5.02	-28	-26	11	-469	-171	-194	-508	-625
Total Revenue	64	310	83	100	174	230	-93	502	701	891	629
Operating Revenue	62	103	83	100	174	230	-93	502	701	891	629
Total Cost of Revenue	69	113	80	128	200	219	376	674	896	1,399	1,254
Operating Cost of Revenue	69	113	80	128	-	-	376	674	896	1,399	1,254
Total Operating Expenses	33	49	54	74	50	58	115	266	485	1,085	1,395
Selling, General & Admin Expense	27	34	34	45	38	43	79	180	364	422	376
Research & Development Expense	6.47	15	21	29	13	15	28	65	100	114	77
Impairment Charge	-	-	-	-	0.00	0.00	6.43	10	5.22	519	949
Restructuring Charge	-	-	-	-	-	-	-	-	0.00	0.00	8.15
Other Special Charges / (Income)	-	-	-	-	0.00	0.00	1.16	11	16	30	-16
Total Other Income / (Expense), net	-51	3.31	-6.36	-25	-18	-36	-43	-39	-44	-33	-88
Interest Expense	-	-	-	-	23	36	43	43	40	45	63
Interest & Investment Income	-	-	-	-	-	-	0.77	4.99	-2.46	13	-1.46
Other Income / (Expense), net	-51	3.31	-6.36	-25	4.29	0.08	-0.74	-0.61	-1.14	-0.13	-23
Income Tax Expense	-0.33	-	-0.39	-	-9.30	0.00	-31	-16	0.84	-7.36	-2.69
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	-	-	-	-	0.00	0.00	-0.20
Basic Earnings per Share	($0.56)	($0.32)	($0.32)	($0.60)	($0.39)	($0.36)	($1.68)	($0.82)	($1.25)	($2.30)	($2.68)
Weighted Average Basic Shares Outstanding	159.23M	176.07M	180.62M	216.34M	218.88M	237.15M	354.79M	558.18M	579.72M	595.47M	785.02M
Diluted Earnings per Share	($0.56)	($0.32)	($0.32)	($0.60)	($0.39)	($0.36)	($1.68)	($0.82)	($1.25)	($2.30)	($2.68)
Weighted Average Diluted Shares Outstanding	159.23M	176.07M	180.62M	216.34M	218.88M	237.15M	354.79M	558.18M	579.72M	595.47M	785.02M
Weighted Average Basic & Diluted Shares Outstanding	159.23M	176.07M	180.62M	216.34M	218.88M	237.15M	354.79M	577.86M	593.39M	684.26M	925.18M

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

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

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

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

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

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

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

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

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

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 4/15/2025 by MarketBeat.com Staff

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Plug Power (PLUG) Financials

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Plug Power (PLUG) Financials

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