Company / Gross Margin
PLUG POWER INC Gross Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Gross Margin
-34.1%
FY2025
5-year range
-99.4% / -27.7%
FY2021-FY2025
Trend
+65.7%
vs FY2024
Sector context
#184 of 186
Industrials
What the data says
Among 186 Industrials companies, PLUG POWER INC is in the bottom 1% for gross margin. Gross Margin returned to growth in FY2025 after 2 years of decline, reaching -34.1%.
Based on SEC 10-K filings.
-34.1% in FY2025 with a 5-year CAGR of -537.6%.
Improved from -57.0% to -34.1% over the past 2 years.
Industrials sector context is included.
Gross Margin over time
Growth rates
- 3-Year Change
- -6.4pp
- 5-Year Change
- -537.6pp
- 10-Year Change
- -
Sector benchmark
Bottom 1% in IndustrialsTop 99% of 186This company -34.1% Sector average 28.8%
▼
-218.4% below sector average
Key checks
Key Insights
- In FY2025, gross margin increased 65.7% year-over-year.
- Currently 62.9pp below the Industrials sector average.
- Peak gross margin was recorded in FY2020.
- Lowest gross margin in the period was in FY2024.
Company context
Key Data Points
- Altman Z-Score -3.69 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Gross MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | -34.1% | +65.7% |
| FY2024 | -99.4% | -74.4% |
| FY2023 | -57.0% | -105.6% |
| FY2022 | -27.7% | +18.7% |
| FY2021 | -34.1% | -106.8% |
| FY2020 | 503.5% | +10774.1% |
| FY2019 | 4.6% | -2.7% |
| FY2018 | 4.8% | +149.7% |
| FY2017 | -9.6% | -26.6% |
| FY2016 | -7.6% | +82.1% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026