Question 1

What is Plug Power's P/E ratio?

Accepted Answer

Plug Power (PLUG) P/E ratio is currently not available. When trailing twelve-month earnings are negative (a net loss), the P/E ratio is mathematically meaningless and is reported as not available (N/A). In that case investors typically use P/S, EV/Sales, or forward P/E instead.

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Plug Power?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Plug Power specifically, the relevant sector benchmark is the current sector median of 27.8×.

Question 5

Why does Plug Power's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.

Question 6

Why is Plug Power's P/E ratio not available?

Accepted Answer

When trailing twelve-month earnings are negative (a net loss), the P/E ratio is mathematically meaningless and is reported as not available (N/A). In that case investors typically use P/S, EV/Sales, or forward P/E instead.


2025	$2.28B	-$1.63B	—	—	Dec 31, 2025
2024	$1.95B	-$2.1B	—	—	Dec 31, 2024
2023	$2.73B	-$1.37B	—	—	Dec 31, 2023
2022	$7.21B	-$724M	—	—	Dec 31, 2022
2021	$16.3B	-$460M	—	—	Dec 31, 2021
2020	$14.4B	-$623M	—	—	Dec 31, 2020
2019	$749M	-$90.3M	—	—	Dec 31, 2019
2018	$271M	-$78.1M	—	—	Dec 31, 2018
2017	$538M	-$127M	—	—	Dec 31, 2017
2016	$217M	-$57.5M	—	—	Dec 31, 2016
2015	$372M	-$55.7M	—	—	Dec 31, 2015
2014	$519M	-$88.5M	—	—	Dec 31, 2014
2013	$160M	-$62.7M	—	—	Dec 31, 2013
2012	$19.1M	-$31.9M	—	—	Dec 31, 2012
2011	$38.3M	-$27.5M	—	—	Dec 31, 2011
2010	$48.7M	-$48.6M	—	—	Dec 31, 2010
2009	$91.7M	-$40.7M	—	—	Dec 31, 2009
2008	$91.2M	-$122M	—	—	Dec 31, 2008
2007	$345M	-$60.6M	—	—	Dec 31, 2007
2006	$335M	-$50.3M	—	—	Dec 31, 2006
2005	$403M	-$51.7M	—	—	Dec 31, 2005
2004	$447M	-$46.7M	—	—	Dec 31, 2004
2003	$436M	-$53M	—	—	Dec 31, 2003
2002	$227M	-$47.2M	—	—	Dec 31, 2002


Pentair (PNR)	21.1×
Lennox International (LII)	20.6×
Copart (CPRT)	20.4×
Union Pacific (UNP)	19.9×
Allegion (ALLE)	19.7×
Alamo Group (ALG)	19.6×
Andersons (ANDE)	19.0×
Carlisle Companies (CSL)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
FedEx (FDX)	18.4×
Pool (POOL)	18.1×
McGrath RentCorp (MGRC)	17.5×
Honeywell International (HON)	17.5×
A. O. Smith (AOS)	17.4×
Textron (TXT)	16.6×
Northrop Grumman (NOC)	16.1×
United Parcel Service (UPS)	15.9×
Delta Air Lines (DAL)	15.5×
ABM Industries (ABM)	15.2×
Masco (MAS)	14.6×
Upwork (UPWK)	12.9×
United Airlines Holdings (UAL)	12.7×
AGCO (AGCO)	10.9×

P/E Ratio for Plug Power (PLUG)

P/E Ratio daily chart for Plug Power (PLUG)

Historical P/E Ratio for Plug Power (PLUG) from 2002 to 2025

About P/E Ratio at Plug Power (PLUG)

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Plug Power (PLUG) Key Financials