Are hydrogen stocks worth buying?

Hydrogen stocks can be worth buying. The global hydrogen industry has tremendous growth potential. The fuel could one day replace natural gas for residential, commercial, and industrial usage. It could also be an important low-carbon fuel for the transportation industry. If hydrogen lives up to its promise, companies focused on the sector could see significant revenue and earnings growth, giving their stocks enough fuel to skyrocket.

Who is the largest hydrogen producer in the United States?

Linde is the largest hydrogen producer in the world (and widely viewed as the top U.S. producer). Its total liquid hydrogen production was 170 tons per day in 2024.

What hydrogen stock is Amazon investing in?

In 2022, Amazon (NASDAQ:AMZN) signed a green hydrogen supply deal with Plug Power. The agreement will provide the e-commerce giant with emissions-free fuel to power some of its fleet, starting in 2025. As part of the deal, Amazon received warrants to buy as many as 16 million shares in Plug Power.

Which hydrogen ETF is best?

As of early 2026, one exchange-traded fund (ETF) focused on hydrogen stocks: Global X Hydrogen ETF (NASDAQ: HYDR). The pure-play hydrogen ETF is very small (roughly $60 million of assets under management). It has a reasonable ETF expense ratio (0.5%) and holds about 25 hydrogen stocks.

Do hydrogen companies pay dividends?

Some larger companies with more diversified businesses beyond hydrogen pay dividends. However, most companies that focus solely on the hydrogen sector do not pay dividends.

Will hydrogen stocks boom?

Hydrogen stocks could boom in the future. The world will need a lot of clean energy in the future to power technologies such as AI, data centers, and electric vehicles. Given the immense power needs, hydrogen demand could soar as it becomes more economical.

What sectors are driving growth in hydrogen stocks?

The primary sectors driving growth in hydrogen stocks are energy, technology, and industrials.

Best Hydrogen Stocks to Buy in 2026 and How to Invest in Them

A look at some of the leading hydrogen energy stocks investors should keep an eye on in the coming year.

By Matthew DiLallo – Updated Feb 5, 2026 at 4:13 PM EST | Fact-checked by Frank Bass

Key Points

Hydrogen can decarbonize hard-to-electrify sectors, like heavy industry.
Investors can choose from a variety of hydrogen stocks, ranging from diversified giants to volatile pure-plays.
Market adoption of hydrogen requires significant infrastructure and policy support, increasing the sector's risk profile.

Hydrogen is compelling because it can decarbonize areas that are hard to electrify, like heavy industry, long-haul transport, and potentially power generation and storage. The catch is that hydrogen isn’t a primary energy source. It has to be produced, and the cleanest methods cost more than fossil alternatives today.

That’s why hydrogen is best viewed as a long-duration theme: massive potential, but timelines and economics still need work.

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Ticker Information Table
Name and ticker	Market cap	Dividend yield	Industry
Linde (NASDAQ:LIN)	$237.2 billion	1.18%	Chemicals
Bloom Energy (NYSE:BE)	$43.7 billion	0.00%	Electrical Equipment
Plug Power (NASDAQ:PLUG)	$2.5 billion	0.00%	Electrical Equipment
Ballard Power Systems (NASDAQ:BLDP)	$643.6 million	0.00%	Electrical Equipment
Air Products And Chemicals (NYSE:APD)	$61.4 billion	2.60%	Chemicals
Cummins (NYSE:CMI)	$80.7 billion	1.34%	Machinery
FuelCell Energy (NASDAQ:FCEL)	$388.6 million	0.00%	Electrical Equipment

Data as of Mar 1, 2026. Showing 7 of 7 tickers.

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NYSE: APD

Air Products And Chemicals

Today's Change

(-0.16%) $-0.45

Current Price

$275.78

Key Data Points

Market Cap

$61B

Day's Range

$273.19 - $278.00

52wk Range

$229.11 - $321.47

Volume

76K

Avg Vol

1.7M

Gross Margin

31.68%

Dividend Yield

2.60%

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Air Products has several major hydrogen projects underway that it expects to complete in the coming years. For example, it has completed 80% of the construction of its NEOM Green Hydrogen Project in Saudi Arabia, which should begin production by 2027. It's also working on a potential $8 billion blue hydrogen project in Louisiana that it could approve by the middle of 2026. In December 2025, Air Products reported that it was in advanced negotiations to potentially connect these projects to Yara's world-scale ammonia network.

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2. Ballad Power Systems

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NASDAQ: BLDP

Ballard Power Systems

Today's Change

(-2.94%) $-0.07

Current Price

$2.15

Key Data Points

Market Cap

$644M

Day's Range

$2.10 - $2.18

52wk Range

$1.00 - $4.10

Volume

292K

Avg Vol

Gross Margin

-620.93%

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NASDAQ: PLUG

Plug Power

Today's Change

(-5.76%) $-0.11

Current Price

$1.80

Key Data Points

Market Cap

$2.5B

Day's Range

$1.76 - $1.87

52wk Range

$0.69 - $4.58

Volume

3.2M

Avg Vol

97M

Gross Margin

-7128.74%

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Plug Power (PLUG -6.28%) is a pioneer in the hydrogen fuel cell industry. It created the first commercially viable market for hydrogen fuel cell technology and has deployed an industry-leading 72,000 fuel cell systems for the e-mobility market (using electric powertrain technologies to power vehicles and fleets).

It's one of the world's largest hydrogen buyers and operates a leading hydrogen refueling network in North America with more than 285 fueling stations. Plug Power is building an end-to-end green hydrogen network to produce, store, and deliver the fuel across North America and Europe.

Plug Power has struggled to fund its operations and growth over the years due to its heavy operating losses. However, cost-cutting initiatives and new financing secured in November 2025 put the company on track to fully fund its current business plan. Additionally, the company partnered with a U.S. data center developer to explore the potential of providing auxiliary and back-up power solutions to data centers using its advanced fuel cell technology.

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4. Bloom Energy

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NYSE: BE

Bloom Energy

Today's Change

(-7.76%) $-13.09

Current Price

$155.48

Key Data Points

Market Cap

$44B

Day's Range

$151.88 - $167.23

52wk Range

$15.15 - $180.90

Volume

386K

Avg Vol

12M

Gross Margin

30.89%

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Bloom Energy's (BE -7.76%) mission is to produce clean, reliable, and affordable energy. The company has developed the Bloom Energy Server, an electric power-generation platform. It also created the Bloom Electrolyzer, using the same solid oxide technology as its Bloom Energy Server. The product can produce clean hydrogen 15% to 45% more efficiently than others on the market.

Bloom Energy believes the Bloom Electrolyzer is a major leap forward for hydrogen. It hopes the technology will enable heavy industries, such as steel, chemicals, cement, and glass manufacturing, to decarbonize.

Bloom Energy can pair its Bloom Electrolyzer with solar energy and wind energy to generate green hydrogen, which it can store and eventually turn back into electricity for future use. It has the potential to be the solution of choice for powering artificial intelligence (AI), including data centers and businesses using the technology for productivity gains.

In October 2025, Bloom Energy and Brookfield Asset Management (BAM -3.06%) announced a strategic AI infrastructure partnership. Brookfield will invest as much as $5 billion to deploy Bloom's advanced fuel cell technology in AI data centers in the future.

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NASDAQ: LIN

Linde

Today's Change

(1.94%) $9.66

Current Price

$508.17

Key Data Points

Market Cap

$237B

Day's Range

$498.44 - $509.15

52wk Range

$387.78 - $510.65

Volume

89K

Avg Vol

2.8M

Gross Margin

37.76%

Dividend Yield

1.18%

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Linde (LIN +1.94%) has developed several technologies to efficiently compress and safely refuel hydrogen. It also offers technologies to lower hydrogen's carbon emissions through carbon capture and storage.

Linde is building a 100-megawatt renewable hydrogen plant for Shell (SHEL +2.87%) in Germany, which it expects will begin commercial operations in 2027.

In June 2025, Linde signed a long-term agreement to supply industrial gases to a $4 billion low-carbon ammonia facility currently under construction in Louisiana. Linde will invest $400 million in a new on-site facility that will complement the company's existing hydrogen and syngas (synthesis gas) infrastructure in the region.

While Linde is an early hydrogen leader, it has been skeptical of the sector's near-term growth prospects. The company believes it will take five to seven years for hydrogen technology to mature. As that happens, the industry will be able to approve more commercially viable projects.

6. Cummins

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NYSE: CMI

Cummins

Today's Change

(-0.64%) $-3.78

Current Price

$584.33

Key Data Points

Market Cap

$81B

Day's Range

$575.36 - $584.53

52wk Range

$260.02 - $617.98

Volume

54K

Avg Vol

935K

Gross Margin

24.99%

Dividend Yield

1.34%

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Cummins (CMI -0.64%) is a global power solutions company. It makes advanced diesel, natural gas, electric, and hybrid powertrains and powertrain-related parts. Among its solutions are fuel cell and electric power technologies and hydrogen production technologies. Accelera by Cummins is its business segment dedicated to zero-emissions technology, such as fuel cell engines.

In February 2026, Cummins announced that it intends to stop new commercial activity in the electrolyzer space (part of its Accelera segment) due to deteriorating market conditions. Cummins, like others in the hydrogen sector, has had to meaningfully temper their hydrogen adoption expectations over the past year.

7. FuelCell Energy

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NASDAQ: FCEL

FuelCell Energy

Today's Change

(-10.58%) $-0.96

Current Price

$8.11

Key Data Points

Market Cap

$389M

Day's Range

$7.98 - $8.75

52wk Range

$3.58 - $11.99

Volume

34K

Avg Vol

2.3M

Gross Margin

-1669.68%

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FuelCell Energy (FCEL -10.25%) is a global leader in delivering distributed baseload energy (on-site power to provide steady power to a building). The company's proprietary fuel cell technology includes carbonate fuel cells (powered by natural gas and biofuels) and hydrogen fuel cells. The company also makes carbon recovery and carbon capture systems.

FuelCell Energy has shifted its focus to the data center market in recent months, where it sees significant opportunities for its efficient and resilient power solutions. In January 2026, the company formed a strategic collaboration with Sustainable Development Capital to explore the deployment of up to 450 megawatts of advanced fuel-cell systems to support data center growth.

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Hydrogen stocks FAQ

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About the Author

Matt DiLallo has been a contributing Motley Fool stock market analyst specializing in covering dividend-paying companies, particularly in the energy and REIT sectors, since 2012. He also covers pre-IPO companies, ETFs, and other investing topics. He holds an MBA from Liberty University.

TMFmd19

@MatthewDiLallo

Matt DiLallo has positions in Brookfield Asset Management. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Cummins. The Motley Fool recommends Linde. The Motley Fool has a disclosure policy.

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Benefits and risks of investing in hydrogen stocks

Investing in hydrogen stocks has its share of pros and cons. Some benefits of investing in hydrogen stocks include:

Growth potential: Hydrogen could become a multitrillion-dollar global market in the coming decades, potentially fueling strong gains for top hydrogen stocks.

Cleaner: Hydrogen (green hydrogen and blue hydrogen paired with CCS) is a cleaner fuel source compared to oil and natural gas, so investing in the sector can help support the environment.

Diversification: Investing in the hydrogen sector can help diversify your portfolio.

Income potential: Some hydrogen stocks pay dividends, enabling you to generate some passive income.

On the other hand, some risks of investing in hydrogen stocks include:

Market challenges: The hydrogen market can be very challenging due to the volatility of hydrogen prices and changing government policies. These and other issues have caused some hydrogen companies to cancel major expansion projects.

Higher risk companies: Many hydrogen companies have higher risk profiles due to their weaker balance sheets and lack of profitability.

How to invest in hydrogen stocks

Anyone can invest in hydrogen stocks. Here's a step-by-step guide on how to add one to your portfolio:

Open your brokerage app: Log in to your brokerage account where you handle your investments.

Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.

Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.

Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.

Submit your order: Confirm the details and submit your buy order.

Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

Future outlook for the hydrogen fuel industry

Several energy companies have delayed or canceled hydrogen projects over the past year due to challenging market conditions. However, the industry's outlook remains bright. According to the International Energy Agency, "Projects that are operational, under construction, or have reached a final investment decision by 2030 are set to increase more than fivefold from 2024 levels to more than 4 million tonnes per year. An additional 6 million tonnes per year also has strong potential to become operational by 2030 if effective policies to ensure demand are implemented." This robust growth rate bodes well for hydrogen stocks.

Best Hydrogen Stocks to Buy in 2026 and How to Invest in Them

A look at some of the leading hydrogen energy stocks investors should keep an eye on in the coming year.

Key Points

Key Data Points

2. Ballad Power Systems

Key Data Points

Key Data Points

4. Bloom Energy

Key Data Points

Key Data Points

6. Cummins

Key Data Points

7. FuelCell Energy

Key Data Points

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Hydrogen stocks FAQ

Are hydrogen stocks worth buying?

Are hydrogen stocks worth buying?

Who is the largest hydrogen producer in the United States?

Who is the largest hydrogen producer in the United States?

What hydrogen stock is Amazon investing in?

What hydrogen stock is Amazon investing in?

Which hydrogen ETF is best?

Which hydrogen ETF is best?

Do hydrogen companies pay dividends?

Do hydrogen companies pay dividends?

Will hydrogen stocks boom?

Will hydrogen stocks boom?

What sectors are driving growth in hydrogen stocks?

What sectors are driving growth in hydrogen stocks?

About the Author

Stocks Mentioned

Our Guides

Premium Investing Services

Hydrogen stocks FAQ

Are hydrogen stocks worth buying?

Are hydrogen stocks worth buying?

Who is the largest hydrogen producer in the United States?

Who is the largest hydrogen producer in the United States?

What hydrogen stock is Amazon investing in?

What hydrogen stock is Amazon investing in?

Which hydrogen ETF is best?

Which hydrogen ETF is best?

Do hydrogen companies pay dividends?

Do hydrogen companies pay dividends?

Will hydrogen stocks boom?

Will hydrogen stocks boom?

What sectors are driving growth in hydrogen stocks?

What sectors are driving growth in hydrogen stocks?

Best Energy Stocks to Buy in 2026 and How to Invest in Them

Best Renewable Energy Dividend Stocks of 2026

Best Oil ETFs of 2026

Best Oil Dividend Stocks to Buy in 2026

Key Data Points

What to know about investing in hydrogen

Top hydrogen stocks to consider

2. Ballad Power Systems

4. Bloom Energy

5. Linde

Benefits and risks of investing in hydrogen stocks

How to invest in hydrogen stocks

Future outlook for the hydrogen fuel industry

Investment considerations for hydrogen stocks

Related investing topics

FAQ

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

Key Data Points

1. Air Products

3. Plug Power

6. Cummins

7. FuelCell Energy