PLUG FINANCIAL STATEMENTS

Plug Power Inc — balance sheet, income statement and cash flow trends

PLUGPlug Power Inc

🇺🇸 USA · NASDAQ · Industrials · Electrical Equipment & Parts

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q1 2026 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue739.8 M $+15.2%

Gross Profit-189.8 M $—

Operating Income-611.4 M $—

EBITDA-1.6 B $—

Net Income-1.7 B $—

Peer Comparison· Electrical Equipment & Parts

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PLUG	15.2%	-25.7%	-220.9%	-227.1%
ASTOR	15.7%	37.5%	32.5%	22.4%
EUPWR	44.0%	28.4%	22.4%	5.3%
BLDP	47.1%	10.4%	-69.9%	-78.3%
ABB	8.6%	39.4%	21.5%	14.5%
ULUSE	39.1%	22.5%	9.1%	9.1%
Industry median	9.3%	28.4%	10.0%	2.8%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
PLUG	15.2%	-25.7%	-220.9%	-227.1%
HAYW	7.6%	45.0%	27.2%	14.0%
EOSE	725.8%	-101.9%	-171.4%	-296.1%
ATKR	-3.4%	19.9%	1.4%	-4.2%
PLPC	15.9%	30.9%	10.0%	4.9%
ENS	3.7%	29.3%	13.6%	7.8%
Industry median	9.3%	28.4%	10.0%	2.8%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q1 2026

Equity749.8 M $32%
Current Liabilities540.7 M $23%
Long-term Liabilities1.1 B $45%

Key Figures

YoY change

Total Assets2.4 B $-34.8%

Total Liabilities1.6 B $-6.3%

Total Equity749.8 M $-59.6%

Cash & ST Investments223.2 M $-24.6%

Total Debt1 B $+2.4%

Net Debt787 M $+13.9%

Peer Comparison· Electrical Equipment & Parts

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PLUG	2.36	134.7%	-0.48	31.7%
ASTOR	2.37	16.8%	-0.69	65.5%
EUPWR	2.41	22.5%	0.71	56.8%
BLDP	10.70	3.6%	6.88	87.2%
ABB	1.38	60.9%	0.40	33.1%
ULUSE	1.06	195.2%	1.74	12.0%
Industry median	2.11	49.3%	0.49	44.9%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
PLUG	2.36	134.7%	-0.48	31.7%
HAYW	3.26	62.8%	2.50	51.4%
EOSE	4.71	-225.0%	-0.70	-35.8%
ATKR	2.64	71.7%	12.13	45.0%
PLPC	3.00	8.9%	-0.39	71.5%
ENS	2.66	62.4%	1.47	47.6%
Industry median	2.11	49.3%	0.49	44.9%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q1 2026 · TTM

Key Figures

YoY change

Operating Cash Flow-580.3 M $—

Capital Expenditures85.9 M $-68.9%

Free Cash Flow-666.2 M $—

Dividends Paid——

Peer Comparison· Electrical Equipment & Parts

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PLUG	-78.4%	-90.1%	11.6%	34.5%
ASTOR	6.7%	-15.3%	8.9%	29.8%
EUPWR	-2.1%	-11.4%	12.7%	-39.3%
BLDP	-37.8%	-45.7%	7.9%	48.3%
ABB	16.4%	13.4%	2.9%	113.1%
ULUSE	13.3%	8.7%	2.6%	146.0%
Industry median	7.5%	3.6%	2.8%	73.8%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
PLUG	-78.4%	-90.1%	11.6%	34.5%
HAYW	9.5%	7.0%	2.5%	68.3%
EOSE	-187.9%	-240.1%	52.2%	63.5%
ATKR	7.5%	5.1%	2.4%	-179.8%
PLPC	10.6%	5.0%	5.6%	215.4%
ENS	14.6%	12.5%	2.1%	186.6%
Industry median	7.5%	3.6%	2.8%	73.8%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 2, 26. This content is for informational purposes only and is not investment advice.