Plug Power Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 2, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	2,485	2,704	1,941	2,725	7,211	16,271
Market Cap Growth	65.27%	39.34%	-28.77%	-62.21%	-55.68%	5.78%
Enterprise Value	3,113	3,612	2,776	3,130	5,409	12,728
Last Close Price	1.81	1.97	2.13	4.50	12.37	28.23
PS Ratio	3.50	3.81	3.09	3.06	10.28	32.39
PB Ratio	2.58	2.70	1.07	0.94	1.78	3.53
P/TBV Ratio	2.62	2.85	1.18	1.01	2.00	3.85
EV/Sales Ratio	4.39	5.09	4.41	3.51	7.71	25.34
Debt / Equity Ratio	0.99	0.99	0.60	0.33	0.22	0.18
Net Debt / Equity Ratio	0.63	0.63	0.48	0.29	-0.31	-0.66
Net Debt / EBITDA Ratio	-0.99	-0.99	-0.85	-0.85	2.08	7.79
Net Debt / FCF Ratio	-0.95	-0.95	-0.82	-0.46	0.98	5.56
Asset Turnover	0.23	0.23	0.15	0.17	0.12	0.12
Inventory Turnover	1.62	1.62	1.47	1.63	1.90	2.95
Quick Ratio	1.00	1.00	0.65	0.52	3.70	9.52
Current Ratio	2.31	2.31	1.97	1.85	5.20	10.58
Return on Equity (ROE)	-120.50%	-120.50%	-89.46%	-39.34%	-16.71%	-15.15%
Return on Assets (ROA)	-13.71%	-13.71%	-16.41%	-12.35%	-7.02%	-6.34%
Return on Capital Employed (ROCE)	-34.30%	-34.30%	-39.10%	-26.80%	-12.80%	-7.50%
Earnings Yield	-65.66%	-60.33%	-108.44%	-50.24%	-10.04%	-2.83%
FCF Yield	-26.62%	-24.46%	-54.76%	-66.16%	-17.93%	-3.38%
Buyback Yield / Dilution	-46.37%	-46.37%	-31.83%	-2.72%	-3.86%	-57.33%

Updated Mar 2, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q