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Operating Margin for Plug Power (PLUG)

As of · Reported

Metric

TTM

-82.7%

YoY change

+225.49pp

Trough year (2001)

-1287.1%

Peak year (2019)

-20.7%

Operating Margin history chart for Plug Power (PLUG) from 1998 to 2025

Latest: -95.7%

Operating Margin change chart for Plug Power (PLUG) from 1998 to 2025

Latest: +225.49pp

Operating Margin history table for Plug Power (PLUG) from 1998 to 2025

  • 2025-95.7%+225.49pp
  • 2024-321.2%-170.48pp
  • 2023-150.7%-53.85pp
  • 2022-96.9%-9.82pp
  • 2021-87.1%—
  • 2019-20.7%+19.08pp
  • 2018-39.8%+36.79pp
  • 2017-76.6%-16.62pp
  • 2016-60.0%-2.83pp
  • 2015-57.1%+1.93pp
  • 2014-59.1%+49.83pp
  • 2013-108.9%+31.57pp
  • 2012-140.5%-27.79pp
  • 2011-112.7%+131.41pp
  • 2010-244.1%+91.66pp
  • 2009-335.7%+370.54pp
  • 2008-706.3%-261.75pp
  • 2007-444.5%+301.78pp
  • 2006-746.3%-390.55pp
  • 2005-355.8%-68.75pp
  • 2004-287.0%+128.20pp
  • 2003-415.2%-19.48pp
  • 2002-395.7%+891.42pp
  • 2001-1287.1%-192.24pp
  • 2000-1094.9%-777.34pp
  • 1999-317.6%-166.79pp
  • 1998-150.8%—

Operating 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 Operating Margin at Plug Power (PLUG)

According to Plug Power's latest reported financial statements, the company's latest reported operating margin is -82.7%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

In 2025, Plug Power (PLUG) operating margin totalled -95.73% – expanded 225.5 percentage points year-over-year.

-20.70% stands as the all-time-high annual operating margin, posted in 2019, against a low of -1287.14% during 2001.

Plug Power Operating Margin by Year

Plug Power Operating Margin 2025: -95.7%

Plug Power posted operating margin of -95.73% in 2025, expanded 225.5 percentage points from 2024.

Plug Power Operating Margin 2024: -321.2%

In 2024, Plug Power reported operating margin of -321.21%, contracted 170.5 percentage points from 2023.

Plug Power Operating Margin 2023: -150.7%

Plug Power operating margin in 2023 was -150.73%, contracted 53.9 percentage points from 2022.

Plug Power Operating Margin 2022: -96.9%

2022's operating margin for Plug Power came in at -96.88%, contracted 9.8 percentage points from 2021.

Plug Power Operating Margin 2021: -87.1%

Plug Power operating margin in 2021 was -87.06%.

See more financial history for Plug Power (PLUG).

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