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	−$2.10B	—	—	Dec 31, 2024
2023	$2.73B	−$1.37B	—	—	Dec 31, 2023
2022	$7.21B	−$724.01M	—	—	Dec 31, 2022
2021	$16.28B	−$459.96M	—	—	Dec 31, 2021
2020	$14.42B	−$622.74M	—	—	Dec 31, 2020
2019	$749.40M	−$90.28M	—	—	Dec 31, 2019
2018	$271.23M	−$78.11M	—	—	Dec 31, 2018
2017	$538.36M	−$127.08M	—	—	Dec 31, 2017
2016	$216.74M	−$57.49M	—	—	Dec 31, 2016
2015	$371.50M	−$55.69M	—	—	Dec 31, 2015
2014	$519.43M	−$88.54M	—	—	Dec 31, 2014
2013	$160.39M	−$62.67M	—	—	Dec 31, 2013
2012	$19.08M	−$31.86M	—	—	Dec 31, 2012
2011	$38.31M	−$27.45M	—	—	Dec 31, 2011
2010	$48.69M	−$48.58M	—	—	Dec 31, 2010
2009	$91.67M	−$40.71M	—	—	Dec 31, 2009
2008	$91.17M	−$121.70M	—	—	Dec 31, 2008
2007	$345.00M	−$60.57M	—	—	Dec 31, 2007
2006	$334.93M	−$50.31M	—	—	Dec 31, 2006
2005	$402.52M	−$51.74M	—	—	Dec 31, 2005
2004	$446.80M	−$46.74M	—	—	Dec 31, 2004
2003	$436.06M	−$53.04M	—	—	Dec 31, 2003
2002	$227.40M	−$47.22M	—	—	Dec 31, 2002
2001	$409.38M	−$73.11M	—	—	Dec 31, 2001


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Automatic Data Processing (ADP)	18.8×
Snap-on (SNA)	18.5×
Brady (BRC)	18.5×
Canadian National Railway (CNI)	18.4×
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A. O. Smith (AOS)	17.4×
FedEx (FDX)	16.9×
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United Parcel Service (UPS)	15.9×
ABM Industries (ABM)	15.2×
Gartner (IT)	14.9×
AGCO (AGCO)	10.9×
Delta Air Lines (DAL)	9.7×
United Airlines Holdings (UAL)	8.2×
Versant Media Group, Inc. Class A (VSNT)	6.3×

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 2001 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

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

Historical P/E Ratio for Plug Power (PLUG) from 2001 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

+What is Plug Power's P/E ratio?

+How is the P/E ratio calculated?

+What is the P/E ratio?

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

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

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

Plug Power (PLUG) Key Financials