Plug Power Inc (PLUG) — Cash Flow-to-Debt Ratio
Plug Power Inc (PLUG) has a Cash Flow-to-Debt Ratio of -0.06x as of June 2026, meaning its operating cash flow of $-94.06 Million could theoretically repay 0% of its total liabilities ($1.61 Billion) in one year. See PLUG financial flexibility score to measure the company's free cash flow as a share of total liabilities.
CF-to-Debt Ratio
Operating Cash Flow
Total Liabilities
Data as of
Plug Power Inc Cash Flow-to-Debt Ratio (1998–2025)
Historical debt coverage capacity for Plug Power Inc across 28 annual periods. For the full cash flow conversion analysis, see cash flow conversion of Plug Power Inc.
Annual Cash Flow-to-Debt Ratio for Plug Power Inc (1998–2025)
Year-by-year debt coverage analysis for Plug Power Inc. Check how high is Plug Power Inc's earnings quality to evaluate the quality of earnings relative to operating cash generation.
| Year | CF-to-Debt Ratio | Operating CF (USD) | Total Liabilities | YoY Change |
|---|---|---|---|---|
| 2025 | -0.34x | $-535.84 Million | $1.59 Billion | ▲ +17.0% |
| 2024 | -0.41x | $-728.64 Million | $1.80 Billion | ▲ +26.5% |
| 2023 | -0.55x | $-1.11 Billion | $2.00 Billion | ▼ -51.5% |
| 2022 | -0.36x | $-620.83 Million | $1.70 Billion | ▼ -36.7% |
| 2021 | -0.27x | $-358.18 Million | $1.34 Billion | ▼ -31.9% |
| 2020 | -0.20x | $-155.48 Million | $769.83 Million | ▼ -151.5% |
| 2019 | -0.08x | $-53.32 Million | $664.16 Million | ▲ +46.7% |
| 2018 | -0.15x | $-58.35 Million | $387.61 Million | ▲ +50.7% |
| 2017 | -0.31x | $-60.18 Million | $197.16 Million | ▼ -60.4% |
| 2016 | -0.19x | $-29.64 Million | $155.74 Million | ▲ +65.9% |
| 2015 | -0.56x | $-47.27 Million | $84.72 Million | ▲ +34.9% |
| 2014 | -0.86x | $-40.78 Million | $47.60 Million | ▼ -69.7% |
| 2013 | -0.51x | $-26.88 Million | $53.23 Million | ▲ +38.8% |
| 2012 | -0.83x | $-20.16 Million | $24.43 Million | ▲ +34.0% |
| 2011 | -1.25x | $-33.31 Million | $26.62 Million | ▲ +50.1% |
| 2010 | -2.51x | $-40.77 Million | $16.26 Million | ▼ -397.8% |
| 2009 | -0.50x | $-38.23 Million | $75.92 Million | ▲ +25.9% |
| 2008 | -0.68x | $-56.60 Million | $83.25 Million | ▲ +73.1% |
| 2007 | -2.53x | $-49.31 Million | $19.49 Million | ▲ +26.5% |
| 2006 | -3.44x | $-46.11 Million | $13.39 Million | ▼ -28.1% |
| 2005 | -2.69x | $-39.87 Million | $14.83 Million | ▼ -26.0% |
| 2004 | -2.13x | $-33.90 Million | $15.88 Million | ▲ +8.5% |
| 2003 | -2.33x | $-38.02 Million | $16.30 Million | ▼ -1.0% |
| 2002 | -2.31x | $-36.89 Million | $15.99 Million | ▲ +31.7% |
| 2001 | -3.38x | $-55.29 Million | $16.37 Million | ▲ +13.9% |
| 2000 | -3.92x | $-65.49 Million | $16.70 Million | ▼ -143.2% |
| 1999 | -1.61x | $-23.74 Million | $14.72 Million | ▲ +44.1% |
| 1998 | -2.88x | $-7.50 Million | $2.60 Million | — |