Plug Power (PLUG) Operating Leases (2019 - 2026)
Plug Power (PLUG) posted quarterly 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 reported Operating Leases for 8 consecutive years, with $175.3 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Leases fell 24.13% year-over-year to $175.3 million; the TTM figure through Mar 2026 stood at $175.3 million (down 24.13% YoY), while the FY2025 annual figure was $194.7 million, down 19.59% from the prior year.
- Operating Leases declined to $175.3 million in Q1 2026 per PLUG's latest filing, from $194.7 million in the prior quarter.
- Across five years, Operating Leases topped out at $295.2 million in Q3 2023 and bottomed at $175.3 million in Q1 2026.
- Historically, Operating Leases has averaged $242.4 million across 5 years, with a median of $245.7 million in 2022.
- Annual changes were most pronounced in 2022 — Operating Leases soared 79.8% — and 2026, when it slipped 24.13%.
- Plug Power's Operating Leases stood at $271.5 million in 2022, then increased by 7.55% to $292.0 million in 2023, then slipped by 17.07% to $242.1 million in 2024, then dropped by 19.59% to $194.7 million in 2025, then declined 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Vertiv Holdings | 101.35 Bn | 98.24 Bn | 1.23 Bn |
| 2 | Bloom Energy | 58.17 Bn | 55.50 Bn | 355.57 Mn |
| 3 | nVent Electric | 24.99 Bn | 24.74 Bn | 558.00 Mn |
| 4 | Hubbell | 24.90 Bn | 24.51 Bn | 613.00 Mn |
| 5 | Advanced Energy Industries | 11.37 Bn | 9.96 Bn | 236.10 Mn |
| 6 | Acuity Inc. (De) | 10.36 Bn | 9.95 Bn | 606.40 Mn |
| 7 | Powell Industries | 7.22 Bn | 6.58 Bn | 95.30 Mn |
| 8 | EnerSys | 6.93 Bn | 6.40 Bn | 313.36 Mn |
| 9 | Hayward Holdings | 3.18 Bn | 2.70 Bn | 155.05 Mn |
| 10 | Plug Power | 3.05 Bn | 2.74 Bn | -1.68 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 158.51 Mn |
| 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 |