TTM
-25.7%
YoY change
+65.28pp
Trough year (2024)
-99.4%
Peak year (2000)
13.8%
Latest annual
-34.1%
Gross Margin history chart for Plug Power (PLUG) from 1998 to 2025
Latest: -34.1%
Gross Margin change chart for Plug Power (PLUG) from 1998 to 2025
Latest: +65.28pp
Gross Margin history table for Plug Power (PLUG) from 1998 to 2025
| 2025 | -34.1% | +65.28pp | ||
| 2024 | -99.4% | -42.41pp | ||
| 2023 | -57.0% | -29.26pp | ||
| 2022 | -27.7% | +6.39pp | ||
| 2021 | -34.1% | — | ||
| 2019 | 4.5% | +2.96pp | ||
| 2018 | 1.5% | +0.31pp | ||
| 2017 | 1.2% | -3.41pp | ||
| 2016 | 4.6% | +14.17pp | ||
| 2015 | -9.6% | -2.01pp | ||
| 2014 | -7.6% | +34.71pp | ||
| 2013 | -42.3% | +12.70pp | ||
| 2012 | -55.0% | -21.41pp | ||
| 2011 | -33.6% | +17.83pp | ||
| 2010 | -51.4% | +8.69pp | ||
| 2009 | -60.1% | +23.95pp | ||
| 2008 | -84.0% | -9.23pp | ||
| 2007 | -74.8% | -15.68pp | ||
| 2006 | -59.1% | -39.21pp | ||
| 2005 | -19.9% | -3.19pp | ||
| 2004 | -16.7% | -3.47pp | ||
| 2003 | -13.3% | -17.30pp | ||
| 2002 | 4.0% | +100.69pp | ||
| 2001 | -96.7% | -110.47pp | ||
| 2000 | 13.8% | +41.51pp | ||
| 1999 | -27.7% | +0.00pp | ||
| 1998 | -27.7% | — |
- 2025-34.1%+65.28pp
- 2024-99.4%-42.41pp
- 2023-57.0%-29.26pp
- 2022-27.7%+6.39pp
- 2021-34.1%—
- 20194.5%+2.96pp
- 20181.5%+0.31pp
- 20171.2%-3.41pp
- 20164.6%+14.17pp
- 2015-9.6%-2.01pp
- 2014-7.6%+34.71pp
- 2013-42.3%+12.70pp
- 2012-55.0%-21.41pp
- 2011-33.6%+17.83pp
- 2010-51.4%+8.69pp
- 2009-60.1%+23.95pp
- 2008-84.0%-9.23pp
- 2007-74.8%-15.68pp
- 2006-59.1%-39.21pp
- 2005-19.9%-3.19pp
- 2004-16.7%-3.47pp
- 2003-13.3%-17.30pp
- 20024.0%+100.69pp
- 2001-96.7%-110.47pp
- 200013.8%+41.51pp
- 1999-27.7%+0.00pp
- 1998-27.7%—
Gross Margin values are taken from Plug Power's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Gross Margin at Plug Power (PLUG)
According to Plug Power's latest reported financial statements, the company's latest reported gross margin is -25.7%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
2025's annual gross margin for Plug Power (PLUG) came in at -34.09% – expanded 65.3 percentage points year-over-year.
2000 marks the peak gross margin at 13.82%, with the historical low of -99.38% recorded in 2024.
Plug Power Gross Margin by Year
Plug Power Gross Margin 2025: -34.1%
2025's gross margin for Plug Power came in at -34.09%, expanded 65.3 percentage points from 2024.
Plug Power Gross Margin 2024: -99.4%
Plug Power posted gross margin of -99.38% in 2024, contracted 42.4 percentage points from 2023. This figure represents the lowest annual value in the available history.
Plug Power Gross Margin 2023: -57.0%
In 2023, Plug Power reported gross margin of -56.97%, contracted 29.3 percentage points from 2022.
Plug Power Gross Margin 2022: -27.7%
Plug Power gross margin in 2022 was -27.71%, expanded 6.4 percentage points from 2021.
Plug Power Gross Margin 2021: -34.1%
Plug Power gross margin in 2021 was -34.10%.
See more financial history for Plug Power (PLUG).
Sector peers by Gross Margin
Industrials peers of Plug Power (PLUG), ranked by their latest gross margin
| 45.7% | |
| 36.9% | |
| 36.9% | |
| 35.1% | |
| 34.8% | |
| 32.5% | |
| 20.2% | |
| 4.8% |
- 45.7%
- 35.1%
- 34.8%
- 32.5%
- 20.2%
- 4.8%
Frequently asked questions
Plug Power (PLUG) Key Financials
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