Plug Power (PLUG) Convertible Debt (2018 - 2026)

Plug Power (PLUG) reported Convertible Debt of $502.8 million for Q1 2026, up 96.95% year-over-year from $255.3 million in Q1 2025, and up 16.65% quarter-over-quarter from $431.0 million in Q4 2025.

Plug Power (PLUG) Convertible Debt (2018 - 2026) Analysis & Trends

Plug Power (PLUG) has 9 years of Convertible Debt data on file, last reported at $502.8 million in Q1 2026.

  • Convertible Debt for Q1 2026 came in at $502.8 million, up 96.95% year-over-year; the trailing twelve-month figure through Mar 2026 was $502.8 million (up 96.95% YoY), and the FY2025 annual result was $431.0 million, up 34.25% from the prior year.
  • Convertible Debt climbed to $502.8 million in Q1 2026 per PLUG's latest filing, from $431.0 million in the prior quarter.
  • Over five years, Convertible Debt peaked at $502.8 million in Q1 2026 and troughed at $149.2 million in Q3 2024.
  • A 5-year average of $242.0 million and a median of $194.9 million in 2023 frame the typical range for Convertible Debt.
  • The sharpest annual moves came in 2022 and 2024: Convertible Debt jumped 1169.4% in 2022, then declined 23.45% in 2024.
  • A 5-year view of Convertible Debt shows it stood at $193.9 million in 2022, then rose by 0.69% to $195.3 million in 2023, then soared by 64.42% to $321.1 million in 2024, then soared by 34.25% to $431.0 million in 2025, then increased by 16.65% to $502.8 million in 2026.
  • Business Quant data shows PLUG's Convertible Debt at $502.8 million in Q1 2026, $431.0 million in Q4 2025, and $255.3 million in Q1 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Novonix 479.97 Bn 479.92 Bn -
2 Vertiv Holdings 114.69 Bn 112.19 Bn 999.70 Mn
3 Bloom Energy 79.53 Bn 77.06 Bn 225.54 Mn
4 nVent Electric 27.08 Bn 26.89 Bn 445.60 Mn
5 Hubbell 26.67 Bn 26.16 Bn 505.30 Mn
6 Advanced Energy Industries 13.19 Bn 13.19 Bn 200.90 Mn
7 Powell Industries 10.63 Bn 10.09 Bn 87.94 Mn
8 Ballard Power Systems 10.07 Bn 9.54 Bn 5.64 Mn
9 Acuity Inc. (De) 9.39 Bn 9.12 Bn 520.40 Mn
10 Plug Power 3.75 Bn 3.37 Bn -21.61 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 502.77 Mn
Dec 31, 2025 431.01 Mn
Mar 31, 2025 255.28 Mn
Dec 31, 2024 321.06 Mn
Sep 30, 2024 149.21 Mn
Jun 30, 2024 208.58 Mn
Mar 31, 2024 209.80 Mn
Dec 31, 2023 195.26 Mn
Sep 30, 2023 194.92 Mn
Jun 30, 2023 194.58 Mn
Mar 31, 2023 194.25 Mn
Dec 31, 2022 193.92 Mn
Sep 30, 2022 193.59 Mn
Jun 30, 2022 193.27 Mn
Mar 31, 2022 192.95 Mn
Dec 31, 2021 192.63 Mn
Sep 30, 2021 192.32 Mn
Jun 30, 2021 192.01 Mn
Mar 31, 2021 15.20 Mn
Dec 31, 2020 85.64 Mn