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Bloom Energy vs Plug Power: BE and PLUG compared
Bloom Energy is the larger company: $1.2B of revenue in its latest quarter (Q3 2026) against $178M for Plug Power (Q2 2026). Bloom Energy is growing faster (+138% against +2% a year earlier). Bloom Energy is more profitable, with an operating margin of 18.2% against -36.0%.
Where the money goes: BE and PLUG
Bloom Energy (BE) · Q3 2026
Bloom Energy, Q3 2026: revenue $1.2B (+138% year over year), operating margin 18.2%, net earnings $250M, operating cash flow −$27.1M. The chart follows the revenue to costs, profit and cash.
Plug Power (PLUG) · Q2 2026
Plug Power, Q2 2026: revenue $178M (+2% year over year), operating margin -36.0%, net loss $190M, operating cash flow −$94.1M. The chart follows the revenue to costs, profit and cash.
| Bloom Energy (BE) | Plug Power (PLUG) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $1.2B | $178M |
| Revenue growth, Y/Y | +138% | +2% |
| Gross margin | 33.8% | — |
| Operating margin | 18.2% | -36.0% |
| Net earnings | $250M | −$190M |
| Net margin | 20.3% | -106.6% |
| Operating cash flow | −$27.1M | −$94.1M |
| Market value | $56.4B | — |
| P/E | 1.7× | — |
| Analysts’ mean target | $283.85 | — |
Where the revenue comes from
Bloom Energy
- Product: $1.1B (87%)
- Installation: $84.9M (7%)
- Service: $67.6M (5%)
- Electricity: $5.0M (0%)
Plug Power
- Sales of equipment, related infrastructure and other: $82.1M (46%)
- Fuel delivered to customers and related equipment: $39.5M (22%)
- Services performed on fuel cell systems and related infrastructure: $29.8M (17%)
- Sales of cryogenic equipment and liquefiers: $26.7M (15%)
Questions
Which is bigger, Bloom Energy or Plug Power?
Bloom Energy is the larger company: $1.2B of revenue in its latest quarter (Q3 2026) against $178M for Plug Power (Q2 2026).
Is Bloom Energy or Plug Power growing faster?
Bloom Energy is growing faster (+138% against +2% a year earlier).
Which is more profitable, Bloom Energy or Plug Power?
Bloom Energy is more profitable, with an operating margin of 18.2% against -36.0%.
More: Bloom Energy earnings · how Bloom Energy makes money · Plug Power earnings · how Plug Power makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 22, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.