Gross Profit for Plug Power (PLUG)
According to Plug Power's latest reported financial statements, the company's current gross profit (TTM) is -$242.04M USD. Gross profit equals revenue minus the cost of goods sold (COGS) — what remains from sales after the direct cost of producing the product or service. It does not yet subtract operating expenses, interest, or taxes (see operating income and net income for those steps). Higher gross profit (and gross margin) generally signals pricing power and production efficiency.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
PLUG
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TTM (last 4 quarters)
-$242.04M
YoY change
-61.3%
5Y CAGR
N/A
Peak year (2019)
$10.25M
Cumulative gross profit
-$2.31B
Gross Profit history chart for Plug Power (PLUG) from 1998 to 2025
Gross Profit history table for Plug Power (PLUG) from 1998 to 2025
| Fiscal year | Period ended | Reported | Gross Profit | YoY |
|---|---|---|---|---|
| 2025 | -$242.04M | -61.3% | ||
| 2024 | -$624.89M | +23.1% | ||
| 2023 | -$507.79M | +161.3% | ||
| 2022 | -$194.36M | +13.5% | ||
| 2021 | -$171.31M | -63.5% | ||
| 2020 | -$469.42M | -4677.9% | ||
| 2019 | $10.25M | +291.1% | ||
| 2018 | $2.62M | +66.2% | ||
| 2017 | $1.58M | -60.0% | ||
| 2016 | $3.95M | -139.9% | ||
| 2015 | -$9.89M | +103.4% | ||
| 2014 | -$4.86M | -56.8% | ||
| 2013 | -$11.25M | -21.6% | ||
| 2012 | -$14.35M | +54.8% | ||
| 2011 | -$9.28M | -7.3% | ||
| 2010 | -$10.01M | +35.5% | ||
| 2009 | -$7.39M | -50.9% | ||
| 2008 | -$15.05M | +23.6% | ||
| 2007 | -$12.17M | +162.7% | ||
| 2006 | -$4.63M | +72.5% | ||
| 2005 | -$2.69M | -0.5% | ||
| 2004 | -$2.70M | +62.9% | ||
| 2003 | -$1.66M | -447.2% | ||
| 2002 | $477,520 | -108.6% | ||
| 2001 | -$5.55M | -579.2% | ||
| 2000 | $1.16M | -138.0% | ||
| 1999 | -$3.05M | +69.2% | ||
| 1998 | -$1.80M | — |
Gross Profit values are taken from Plug Power's reported income statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
As of the 2025 fiscal year, Plug Power (PLUG) reported gross profit of -$242.04M – plunged 61.3% year-over-year.
Plug Power gross profit plunged from $10.25M in 2019 to -$242.04M in 2025, a 2460.4% drawdown.
$10.25M stands as the all-time-high annual gross profit, posted in 2019, against a low of -$624.89M during 2024.
Among 8 Industrials peers, Plug Power (PLUG) ranks 9th; the peer median for gross profit is $15.42B.
Plug Power Gross Profit by Year
Plug Power Gross Profit 2025: -$242.04M
Plug Power gross profit in 2025 was -$242.04M, plunged 61.3% below 2024.
Plug Power Gross Profit 2024: -$624.89M
Plug Power gross profit in 2024 was -$624.89M, grew 23.1% from 2023. This figure represents the lowest annual value in the available history.
Plug Power Gross Profit 2023: -$507.79M
Plug Power gross profit in 2023 was -$507.79M, surged 161.3% from 2022.
Plug Power Gross Profit 2022: -$194.36M
Plug Power gross profit in 2022 was -$194.36M, grew 13.5% from 2021.
Plug Power Gross Profit 2021: -$171.31M
Plug Power gross profit in 2021 was -$171.31M.
See more financial history for Plug Power (PLUG).
Sector peers — Gross Profit
Companies in the same sector as Plug Power, ranked by their latest gross profit.
| Company | Gross Profit | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $21.86B | Industrials |
| RTX Corporation (RTX) | $17.79B | Industrials |
| GE Aerospace (GE) | $16.89B | Industrials |
| Deere & Company (DE) | $16.30B | Industrials |
| Union Pacific Corporation (UNP) | $14.55B | Industrials |
| Honeywell International Inc. (HON) | $13.83B | Industrials |
| Eaton Corporation plc (ETN) | $10.32B | Industrials |
| The Boeing Company (BA) | $4.29B | Industrials |
Frequently asked questions
What is Plug Power's gross profit?
- Latest reported gross profit for Plug Power (PLUG) is -$242.04M (period ending December 31, 2025).
How has Plug Power gross profit changed year-over-year?
- Plug Power (PLUG) gross profit changed -61.3% year-over-year on the latest annual filing.
When did Plug Power gross profit hit its highest annual value?
- Plug Power gross profit reached its highest annual value of $10.25M in 2019.
What was Plug Power gross profit in 2024?
- Plug Power (PLUG) gross profit in 2024 was -$624.89M.
What was Plug Power gross profit in 2025?
- Plug Power (PLUG) gross profit in 2025 was -$242.04M.
Metrics overview
Pick a metric for charts, filings, and peers — each row shows the latest TTM or annual value with year-over-year change.
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