Question 1

What is Plug Power's P/S ratio?

Accepted Answer

Plug Power (PLUG) P/S ratio is 6.0× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Plug Power specifically, the relevant sector benchmark is the current sector median of 3.1×.

Question 5

Is Plug Power's P/S ratio high or low?

Accepted Answer

Plug Power's P/S ratio of 6.0× is below its own 5-year average of 33.0× and above the sector median of 3.1×. That places the current reading at the 60th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Plug Power's historical P/S ratio range?

Accepted Answer

In the available daily series, Plug Power (PLUG) P/S ratio has ranged from a low of 0.3× in 2013 to a high of 817.0× in 2021. The 5-year average is 33.0× and the 5-year median is 4.2×.

Question 7

What was Plug Power's P/S ratio in 2025?

Accepted Answer

Plug Power (PLUG) P/S ratio at the end of 2025 was 3.2×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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.


2025	$2.28B	$709.92M	3.2×	+0.1×	Dec 31, 2025
2024	$1.95B	$628.81M	3.1×	+0.0×	Dec 31, 2024
2023	$2.73B	$891.34M	3.1×	-7.2×	Dec 31, 2023
2022	$7.21B	$701.44M	10.3×	-22.1×	Dec 31, 2022
2021	$16.28B	$502.34M	32.4×	—	Dec 31, 2021
2020	$14.42B	−$93.25M	—	—	Dec 31, 2020
2019	$749.40M	$223.44M	3.4×	+1.9×	Dec 31, 2019
2018	$271.23M	$181.99M	1.5×	-2.6×	Dec 31, 2018
2017	$538.36M	$132.93M	4.0×	+1.5×	Dec 31, 2017
2016	$216.74M	$85.93M	2.5×	-1.1×	Dec 31, 2016
2015	$371.50M	$103.29M	3.6×	-4.5×	Dec 31, 2015
2014	$519.43M	$64.23M	8.1×	+2.1×	Dec 31, 2014
2013	$160.39M	$26.60M	6.0×	+5.3×	Dec 31, 2013
2012	$19.08M	$26.11M	0.7×	-0.7×	Dec 31, 2012
2011	$38.31M	$27.63M	1.4×	-1.3×	Dec 31, 2011
2010	$48.69M	$17.85M	2.7×	-4.7×	Dec 31, 2010
2009	$91.67M	$12.29M	7.5×	+2.4×	Dec 31, 2009
2008	$91.17M	$17.90M	5.1×	-16.1×	Dec 31, 2008
2007	$345.00M	$16.27M	21.2×	-21.5×	Dec 31, 2007
2006	$334.93M	$7.84M	42.7×	+12.9×	Dec 31, 2006
2005	$402.52M	$13.49M	29.8×	+2.2×	Dec 31, 2005
2004	$446.80M	$16.14M	27.7×	-7.2×	Dec 31, 2004
2003	$436.06M	$12.50M	34.9×	+15.6×	Dec 31, 2003
2002	$227.40M	$11.82M	19.2×	-52.1×	Dec 31, 2002
2001	$409.38M	$5.74M	71.3×	—	Dec 31, 2001


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Expeditors International (EXPD)	1.7×
Gartner (IT)	1.7×
J.B. Hunt Transport Services (JBHT)	1.7×
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Jacobs Solutions (J)	1.1×
Textron (TXT)	1.0×
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United Parcel Service (UPS)	0.9×
FedEx (FDX)	0.8×
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Stanley Black & Decker (SWK)	0.7×
Matthews International (MATW)	0.7×
Delta Air Lines (DAL)	0.7×
Southwest Airlines (LUV)	0.6×
Builders FirstSource (BLDR)	0.6×
United Airlines Holdings (UAL)	0.5×
Amentum Holdings (AMTM)	0.5×
Alaska Air Group (ALK)	0.3×
ABM Industries (ABM)	0.3×

P/S Ratio for Plug Power (PLUG)

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

Historical P/S Ratio for Plug Power (PLUG) from 2001 to 2025

About P/S Ratio at Plug Power (PLUG)

Plug Power P/S Ratio by Year

Plug Power P/S Ratio 2025: 3.2×

Plug Power P/S Ratio 2024: 3.1×

Plug Power P/S Ratio 2023: 3.1×

Plug Power P/S Ratio 2022: 10.3×

Plug Power P/S Ratio 2021: 32.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Plug Power (PLUG) Key Financials

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

Historical P/S Ratio for Plug Power (PLUG) from 2001 to 2025

About P/S Ratio at Plug Power (PLUG)

Plug Power P/S Ratio by Year

Plug Power P/S Ratio 2025: 3.2×

Plug Power P/S Ratio 2024: 3.1×

Plug Power P/S Ratio 2023: 3.1×

Plug Power P/S Ratio 2022: 10.3×

Plug Power P/S Ratio 2021: 32.4×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

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

+How is the P/S ratio calculated?

+What is the P/S ratio?

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

+Is Plug Power's P/S ratio high or low?

+What is Plug Power's historical P/S ratio range?

+What was Plug Power's P/S ratio in 2025?

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

Plug Power (PLUG) Key Financials