Plug PowerMIL:1PLUG -1.09%16 Gross Margin % is -13.21% as of Mar. 2026. GuruFocus rates MIL:1PLUG with a GF Score™ of 16/100 and a GF Value™ of €1.29 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 3,003 Industrial Products companies, Plug Power ranks worse than 98.53% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Plug Power's Gross Profit for the
three
months ended in Mar. 2026 was €-18.7 Mil. Plug Power's Revenue for the
three
months ended in Mar. 2026 was €141.4 Mil. Therefore, Plug Power's Gross Margin % for the quarter that ended in Mar. 2026 was -13.21%.
The historical rank and industry rank for Plug Power's Gross Margin % or its related term are showing as below:
MIL:1PLUG'
s Gross Margin % Range Over the Past 10 Years
Min: -99.38 Med: -27.88 Max: 503.47
Current: -25.66
During the past 13 years, the highestGross Margin % of Plug Power was 503.47%. The lowest was -99.38%. And the median was -27.88%.
MIL:1PLUG's Gross Margin % is ranked worse than 98.53% of 3003
companies
in the Industrial Products industry
Industry Median: 26.79
vs MIL:1PLUG: -25.66
Plug Power had a gross margin of -13.21% for the quarter that ended in Mar. 2026 => No sustainable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Plug Power was 0.00% per year.
Plug Power (MIL:1PLUG) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Plug Power had a gross margin of -13.21% for the quarter that ended in Mar. 2026 => No sustainable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Plug Power Gross Margin % Related Terms
Plug Power Gross Margin % Historical Data
* Premium members only.
The historical data trend for Plug Power's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:1PLUG vs HAYW, TE, AMPX: Gross Margin % Comparison
For the Electrical Equipment & Parts subindustry, Plug Power's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Plug Power Gross Margin % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Plug Power's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Plug Power's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Plug Power (MIL:1PLUG) has a Gross Margin % of -13.21% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Plug Power and its competitors. According to the industry distribution chart, Plug Power ranks #2959 out of 3003 companies in the Industrial Products industry, placing it in the top 98.5%.
Is Plug Power's Gross Margin % too high?
Plug Power's current Gross Margin % is -13.21%. Based on the distribution chart, Plug Power ranks #2959 out of 3003 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Plug Power has a GF Score™ of 16/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Plug Power's Gross Margin % compare to HAYW and TE?
According to the Industrial Products industry distribution chart, Plug Power ranks #2959 out of 3003 companies for Gross Margin %. This places Plug Power in the lower half of its industry. The industry median Gross Margin % is 26.79. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for an Industrial Products company?
The median Gross Margin % among Industrial Products companies is 26.79, based on 3,003 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Plug Power and its competitors. For the Industrial Products industry, the median Gross Margin % is 26.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Plug Power's current Gross Margin % is -13.21%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Plug Power stock overvalued right now?
Based on GuruFocus' analysis, Plug Power (MIL:1PLUG) is currently considered Significantly Overvalued. The stock's GF Value™ is €1.29, compared to a current price of €2.23 — trading 72.6% above its estimated fair value. The current Gross Margin % is -13.21%. Plug Power's overall GF Score™ is 16/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Plug Power (MIL:1PLUG), the current Gross Margin % is -13.21% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Plug Power (MIL:1PLUG) Overvalued in 2026?
Based on GuruFocus' analysis, Plug Power stock appears to be overvalued.
The current stock price of €2.23 is trading 72.6% above its estimated GF Value™ of €1.29.
GuruFocus considers Plug Power to be Significantly Overvalued.
Key valuation signals for MIL:1PLUG:
Gross Margin %: -13.21%
GF Value™: €1.29 vs. price of €2.23 (72.6% above fair value)
No single metric tells the full story. See the MIL:1PLUG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Plug Power Inc is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation. The company plans to build and operate green hydrogen highways across North America and Europe. Plug will deliver its green hydrogen solutions directly to its customers and through joint venture partners into multiple end markets, including material handling, e-mobility, power generation, and industrial applications.
16GF Score
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