Plug Power (PLUG) Operating Leases (2019 - 2026)

Plug Power (PLUG) reported Operating Leases of $175.3 million for Q1 2026, down 24.13% year-over-year from $231.0 million in Q1 2025, and down 9.98% quarter-over-quarter from $194.7 million in Q4 2025.

Plug Power (PLUG) Operating Leases (2019 - 2026) Analysis & Trends

Plug Power (PLUG) has 8 years of Operating Leases data on file, last reported at $175.3 million in Q1 2026.

  • Operating Leases for Q1 2026 came in at $175.3 million, down 24.13% year-over-year; the trailing twelve-month figure through Mar 2026 was $175.3 million (down 24.13% YoY), and the FY2025 annual result was $194.7 million, down 19.59% from the prior year.
  • Operating Leases retreated to $175.3 million in Q1 2026 per PLUG's latest filing, from $194.7 million in the prior quarter.
  • Over five years, Operating Leases peaked at $295.2 million in Q3 2023 and troughed at $175.3 million in Q1 2026.
  • A 5-year average of $242.4 million and a median of $245.7 million in 2022 frame the typical range for Operating Leases.
  • The sharpest annual moves came in 2022 and 2026: Operating Leases soared 79.8% in 2022, then slipped 24.13% in 2026.
  • A 5-year view of Operating Leases shows it stood at $271.5 million in 2022, then grew by 7.55% to $292.0 million in 2023, then decreased by 17.07% to $242.1 million in 2024, then slipped by 19.59% to $194.7 million in 2025, then dropped by 9.98% to $175.3 million in 2026.
  • Business Quant data shows PLUG's Operating Leases at $175.3 million in Q1 2026, $194.7 million in Q4 2025, and $209.3 million in Q3 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 175.28 Mn
Dec 31, 2025 194.71 Mn
Sep 30, 2025 209.29 Mn
Jun 30, 2025 227.32 Mn
Mar 31, 2025 231.02 Mn
Dec 31, 2024 242.15 Mn
Sep 30, 2024 249.19 Mn
Jun 30, 2024 264.25 Mn
Mar 31, 2024 278.22 Mn
Dec 31, 2023 292.00 Mn
Sep 30, 2023 295.23 Mn
Jun 30, 2023 290.28 Mn
Mar 31, 2023 274.94 Mn
Dec 31, 2022 271.50 Mn
Sep 30, 2022 245.72 Mn
Jun 30, 2022 193.33 Mn
Mar 31, 2022 186.15 Mn
Dec 31, 2021 175.64 Mn
Sep 30, 2021 139.40 Mn
Jun 30, 2021 122.20 Mn