Plug Power (PLUG) Invested Capital (2010 - 2026)
Plug Power's Invested Capital was $587.6 million in Q2 2026, down 70.2% from $1.97 billion a year earlier and down 24.4% from the prior quarter.
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Analysis
Plug Power (PLUG) Invested Capital (2010 - 2026) Analysis & Trends
For FY2025, Invested Capital at Plug Power came in at $1.01 billion, down 46.1% from FY2024.
- Invested Capital has now declined for four consecutive years, with a five-year compound annual growth rate of -7.6% (FY2020 to FY2025).
- In earlier years, Invested Capital was $1.87 billion in FY2024 (-35.6%), $2.9 billion in FY2023 (-28.6%), $4.07 billion in FY2022 (-12.0%) and $4.62 billion in FY2021 (+209.7%).
- The Q2 2026 figure marks the lowest quarterly Invested Capital since Q2 2020.
- Compared with a year earlier, Invested Capital has declined for 18 straight quarters, with an average decline of 41.7% over the last eight quarters.
- The best year-over-year quarter for Invested Capital over five years was Q3 2021 (growth of 615.5%); the worst was Q2 2026 (a decline of 70.2%).
- Per Business Quant data, PLUG's Invested Capital in the three quarters before Q2 2026 was $776.82 million (Q1 2026), $1.01 billion (Q4 2025) and $1.76 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Plug Power | 2.71 Bn | 1.80 Bn | -1.68 Mn | 587.60 Mn |
| 2 | Rex American Resources | 1.44 Bn | 86.32 Mn | 53.30 Mn | - |
| 3 | Green Plains | 1.06 Bn | 456.27 Mn | 113.03 Mn | 1.35 Bn |
| 4 | Montauk Renewables | 391.06 Mn | 318.84 Mn | - | 414.17 Mn |
| 5 | Clean Energy Fuels | 343.76 Mn | -312.04 Mn | 30.14 Mn | 787.71 Mn |
| 6 | Gevo | 326.35 Mn | 43.33 Mn | 19.80 Mn | 440.40 Mn |
| 7 | OPAL Fuels | 305.82 Mn | 38.43 Mn | 24.47 Mn | 469.59 Mn |
| 8 | Aemetis | 128.25 Mn | 112.00 Mn | 13.52 Mn | 144.55 Mn |
| 9 | Verde Clean Fuels | 47.67 Mn | -150.80 Mn | - | - |
| 10 | Blue Biofuels | 32.35 Mn | 32.16 Mn | - | -3.63 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 587.60 Mn |
| Mar 31, 2026 | 776.82 Mn |
| Dec 31, 2025 | 1.01 Bn |
| Sep 30, 2025 | 1.76 Bn |
| Jun 30, 2025 | 1.97 Bn |
| Mar 31, 2025 | 1.99 Bn |
| Dec 31, 2024 | 1.87 Bn |
| Sep 30, 2024 | 3.09 Bn |
| Jun 30, 2024 | 2.99 Bn |
| Mar 31, 2024 | 2.93 Bn |
| Dec 31, 2023 | 2.90 Bn |
| Sep 30, 2023 | 3.51 Bn |
| Jun 30, 2023 | 3.74 Bn |
| Mar 31, 2023 | 3.93 Bn |
| Dec 31, 2022 | 4.07 Bn |
| Sep 30, 2022 | 4.22 Bn |
| Jun 30, 2022 | 4.34 Bn |
| Mar 31, 2022 | 4.48 Bn |
| Dec 31, 2021 | 4.62 Bn |
| Sep 30, 2021 | 4.73 Bn |
API Access
Plug Power Invested Capital API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=invested-capital&ticker=PLUG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "ticker": "PLUG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=invested-capital&ticker=PLUG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();