Operating Income for Plug Power (PLUG)
According to Plug Power's latest reported financial statements, the company's current operating income (TTM) is -$811.28M USD. Operating income is profit from core operations: revenue minus cost of goods sold and operating expenses (SG&A, R&D). It excludes interest, taxes, and non-operating items, so it isolates how profitable the business itself is before financing and tax decisions. Compare with EBITDA and net income.
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)
-$811.28M
YoY change
-66.4%
5Y CAGR
N/A
Peak year (1998)
-$9.80M
Cumulative operating income
-$6.96B
Operating Income history chart for Plug Power (PLUG) from 1998 to 2025
Operating Income history table for Plug Power (PLUG) from 1998 to 2025
| Fiscal year | Period ended | Reported | Operating Income | YoY |
|---|---|---|---|---|
| 2025 | -$679.57M | -66.4% | ||
| 2024 | -$2.02B | +50.3% | ||
| 2023 | -$1.34B | +97.7% | ||
| 2022 | -$679.55M | +55.4% | ||
| 2021 | -$437.32M | -25.1% | ||
| 2020 | -$584.20M | +1127.0% | ||
| 2019 | -$47.61M | -31.5% | ||
| 2018 | -$69.48M | -31.7% | ||
| 2017 | -$101.79M | +97.6% | ||
| 2016 | -$51.52M | -12.7% | ||
| 2015 | -$59.00M | +55.5% | ||
| 2014 | -$37.93M | +31.0% | ||
| 2013 | -$28.96M | -21.0% | ||
| 2012 | -$36.67M | +17.8% | ||
| 2011 | -$31.13M | -34.5% | ||
| 2010 | -$47.53M | +15.2% | ||
| 2009 | -$41.27M | -67.4% | ||
| 2008 | -$126.43M | +74.8% | ||
| 2007 | -$72.33M | +23.7% | ||
| 2006 | -$58.48M | +21.9% | ||
| 2005 | -$47.98M | +3.6% | ||
| 2004 | -$46.33M | -10.8% | ||
| 2003 | -$51.91M | +11.0% | ||
| 2002 | -$46.77M | -36.7% | ||
| 2001 | -$73.90M | -19.4% | ||
| 2000 | -$91.73M | +162.6% | ||
| 1999 | -$34.93M | +256.4% | ||
| 1998 | -$9.80M | — |
Operating Income 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
In 2025, Plug Power (PLUG) operating income totalled -$679.57M – plunged 66.4% year-over-year.
Across the available history, operating income reached its high of -$9.80M in 1998 and its low of -$2.02B in 2024.
Among 8 Industrials peers, Plug Power (PLUG) ranks 8th; the peer median for operating income is $8.59B.
Plug Power Operating Income by Year
Plug Power Operating Income 2025: -$679.57M
Plug Power operating income in 2025 was -$679.57M, plunged 66.4% below 2024.
Plug Power Operating Income 2024: -$2.02B
Plug Power operating income in 2024 was -$2.02B, surged 50.3% from 2023. This figure represents the lowest annual value in the available history.
Plug Power Operating Income 2023: -$1.34B
Plug Power operating income in 2023 was -$1.34B, surged 97.7% from 2022.
Plug Power Operating Income 2022: -$679.55M
Plug Power operating income in 2022 was -$679.55M, surged 55.4% from 2021.
Plug Power Operating Income 2021: -$437.32M
Plug Power operating income in 2021 was -$437.32M.
See more financial history for Plug Power (PLUG).
Sector peers — Operating Income
Companies in the same sector as Plug Power, ranked by their latest operating income.
| Company | Operating Income | Sector |
|---|---|---|
| Caterpillar Inc. (CAT) | $11.21B | Industrials |
| Union Pacific Corporation (UNP) | $9.84B | Industrials |
| RTX Corporation (RTX) | $8.89B | Industrials |
| GE Aerospace (GE) | $8.77B | Industrials |
| Deere & Company (DE) | $8.42B | Industrials |
| Honeywell International Inc. (HON) | $6.57B | Industrials |
| Eaton Corporation plc (ETN) | $5.23B | Industrials |
| The Boeing Company (BA) | -$5.42B | Industrials |
Frequently asked questions
What is Plug Power's operating income?
- Latest reported operating income for Plug Power (PLUG) is -$811.28M (period ending December 31, 2025).
How has Plug Power operating income changed year-over-year?
- Plug Power (PLUG) operating income changed -66.4% year-over-year on the latest annual filing.
When did Plug Power operating income hit its highest annual value?
- Plug Power operating income reached its highest annual value of -$9.80M in 1998.
What was Plug Power operating income in 2024?
- Plug Power (PLUG) operating income in 2024 was -$2.02B.
What was Plug Power operating income in 2025?
- Plug Power (PLUG) operating income in 2025 was -$679.57M.
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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