3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Plug Power's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 1.63%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Plug Power's 3-Year ROIIC % or its related term are showing as below:
XSWX:PLUG's 3-Year ROIIC % is ranked worse than 53.34% of 2936
companies
in the Industrial Products industry
Industry Median: 3.46
vs XSWX:PLUG: 1.63
Plug Power (XSWX:PLUG) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Plug Power 3-Year ROIIC % Related Terms
Plug Power 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Plug Power's 3-Year ROIIC % 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.
XSWX:PLUG vs HAYW, ATKR, TE: 3-Year ROIIC % Comparison
For the Electrical Equipment & Parts subindustry, Plug Power's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Plug Power's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Plug Power's 3-Year ROIIC % falls into.
Plug Power's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -541.549 (Dec. 2025) - -612.866 (Dec. 2022) )
/
( 1537.438 (Dec. 2025) - 3034.726 (Dec. 2022) )
=
71.317
/
-1497.288
=
-4.76%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Plug Power (XSWX:PLUG) has a 3-Year ROIIC % of 1.63 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Plug Power and its competitors. According to the industry distribution chart, Plug Power ranks #1566 out of 2936 companies in the Industrial Products industry, placing it in the top 53.3%.
Is Plug Power's 3-Year ROIIC % too high?
Plug Power's current 3-Year ROIIC % is 1.63. The Industrial Products industry median 3-Year ROIIC % is 3.46. Plug Power's value of 1.63 is 52.9% below this industry median. Based on the distribution chart, Plug Power ranks #1566 out of 2936 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Plug Power has a GF Score™ of 42/100, reflecting its overall financial health beyond just this single metric.
How does Plug Power's 3-Year ROIIC % compare to HAYW and ATKR?
According to the Industrial Products industry distribution chart, Plug Power ranks #1566 out of 2936 companies for 3-Year ROIIC %. This places Plug Power in the lower half of its industry. The industry median 3-Year ROIIC % is 3.46. Plug Power's value of 1.63 is 52.9% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Industrial Products company?
The median 3-Year ROIIC % among Industrial Products companies is 3.46, based on 2,936 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Plug Power's current 3-Year ROIIC % of 1.63 is 52.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Plug Power and its competitors. For the Industrial Products industry, the median 3-Year ROIIC % is 3.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Plug Power's current 3-Year ROIIC % is 1.63. 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?
Plug Power (XSWX:PLUG) has a current 3-Year ROIIC % of 1.63. The stock's GF Value™ is CHF1.20, compared to a current price of CHF2.08 — trading 73.3% above its estimated fair value. The current 3-Year ROIIC % is 1.63 and 52.9% below the Industrial Products industry median of 3.46. Plug Power's overall GF Score™ is 42/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Plug Power (XSWX:PLUG), the current 3-Year ROIIC % is 1.63 as of Dec. 2025. 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 (XSWX:PLUG) Overvalued in 2026?
Based on GuruFocus' analysis, Plug Power stock appears to be overvalued.
The current stock price of CHF2.08 is trading 73.3% above its estimated GF Value™ of CHF1.20.
Key valuation signals for XSWX:PLUG:
3-Year ROIIC %: 1.63
GF Value™: CHF1.20 vs. price of CHF2.08 (73.3% above fair value)
Industry Position: 52.9% below the Industrial Products median (#1566 of 2936)
No single metric tells the full story. See the XSWX:PLUG 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.
42GF Score
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