Plug Power vs Powell Industries
Powell Industries is the larger business, with $1.10bn of revenue in fiscal 2025 against $710m for Plug Power (1.6 times as much). Plug Power grew faster (12.9% against 9.1%). Powell Industries kept more of each dollar of sales as profit: a net margin of 16.4% against -229.8%. Powell Industries carries less debt relative to equity (0.0% against 44.3%).
| Latest fiscal year | Plug PowerPLUG, 2025 | Powell IndustriesPOWL, 2025 |
|---|---|---|
| Revenue | $710m | $1.10bn |
| Revenue growth | 12.9% | 9.1% |
| Net income | −$1.63bn | $181m |
| Operating margin | -206.7% | 19.7% |
| Net margin | -229.8% | 16.4% |
| Return on equity | -120.3% | 32.2% |
| Free cash flow | −$647m | $155m |
| Cash | $369m | $451m |
| Total debt | $434m | $0 |
| Debt to equity | 44.3% | 0.0% |
| Dividend per share | — | $1.07 |
| Dividend yield | — | 0.2% |
| Share buybacks | — | — |
| Employees | 2,582 | 3,143 |
| Market value | $1.96bn | $5.95bn |
| Price vs our value range | — | Within our value range |
| Moat score | 12 (Weak) | 41 (Weak) |
| Insider trades, 12 months | 1 buys, 8 sales | 0 buys, 73 sales |