Latest period
$85.9M
YoY change
-62.4%
5Y CAGR
+20.1%
Peak year (FY2023)
$696M
Cumulative CapEx
$2.05B
CapEx history chart for Plug Power (PLUG) from 2016 to 2025
Latest: $126M
CapEx growth chart for Plug Power (PLUG) from 2016 to 2025
Latest: -62.4%
CapEx history table for Plug Power (PLUG) from 1998 to 2025
| FY2025 | $126M | -62.4% | -$209M | ||
| FY2024 | $334M | -52.0% | -$362M | ||
| FY2023 | $696M | +50.1% | +$232M | ||
| FY2022 | $464M | +140.0% | +$271M | ||
| FY2021 | $193M | +284.8% | +$143M | ||
| FY2020 | $50.2M | +311.1% | +$38M | ||
| FY2019 | $12.2M | -37.6% | -$7.36M | ||
| FY2018 | $19.6M | -55.9% | -$24.8M | ||
| FY2017 | $44.4M | -23.6% | -$13.7M | ||
| FY2016 | $58.1M | +1549.9% | +$54.6M | ||
| FY2015 | $3.52M | +149.1% | +$2.11M | ||
| FY2014 | $1.41M | +1173.0% | +$1.3M | ||
| FY2013 | $111K | +42.3% | +$33K | ||
| FY2012 | $78K | -94.1% | -$1.25M | ||
| FY2011 | $1.33M | +20.5% | +$226K | ||
| FY2010 | $1.1M | +106.5% | +$568K | ||
| FY2009 | $533K | -62.4% | -$886K | ||
| FY2008 | $1.42M | -51.8% | -$1.53M | ||
| FY2007 | $2.94M | +131.0% | +$1.67M | ||
| FY2006 | $1.27M | +27.5% | +$275K | ||
| FY2005 | $1M | -38.2% | -$617K | ||
| FY2004 | $1.62M | +157.7% | +$989K | ||
| FY2003 | $627K | -50.5% | -$640K | ||
| FY2002 | $1.27M | -52.7% | -$1.41M | ||
| FY2001 | $2.68M | -77.7% | -$9.32M | ||
| FY2000 | $12M | +11.2% | +$1.21M | ||
| FY1999 | $10.8M | +349.5% | +$8.39M | ||
| FY1998 | $2.4M | — | — |
- FY2025$126M-62.4%
- FY2024$334M-52.0%
- FY2023$696M+50.1%
- FY2022$464M+140.0%
- FY2021$193M+284.8%
- FY2020$50.2M+311.1%
- FY2019$12.2M-37.6%
- FY2018$19.6M-55.9%
- FY2017$44.4M-23.6%
- FY2016$58.1M+1549.9%
- FY2015$3.52M+149.1%
- FY2014$1.41M+1173.0%
- FY2013$111K+42.3%
- FY2012$78K-94.1%
- FY2011$1.33M+20.5%
- FY2010$1.1M+106.5%
- FY2009$533K-62.4%
- FY2008$1.42M-51.8%
- FY2007$2.94M+131.0%
- FY2006$1.27M+27.5%
- FY2005$1M-38.2%
- FY2004$1.62M+157.7%
- FY2003$627K-50.5%
- FY2002$1.27M-52.7%
- FY2001$2.68M-77.7%
- FY2000$12M+11.2%
- FY1999$10.8M+349.5%
- FY1998$2.4M—
CapEx values are taken from Plug Power's reported cash flow statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About CapEx at Plug Power (PLUG)
According to Plug Power's latest reported financial statements, the company's current CapEx (TTM) is $85.9M. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Plug Power (PLUG) CapEx is $126M – plunged 62.4% year-over-year.
Plug Power CapEx compound annual growth for the 2020–2025 (5 years) window is +20.1%, with mixed annual results across the window.
Plug Power CapEx plunged from $696M in 2023 to $126M in 2025, a 82.0% drawdown.
The record annual CapEx stands at $696M, reached in 2023; the historical low of $78K was recorded in 2012.
Plug Power Capital Expenditures by Year
Plug Power Capital Expenditures 2025: $126M
2025's CapEx for Plug Power came in at $126M, plunged 62.4% below 2024.
Plug Power Capital Expenditures 2024: $334M
Plug Power posted CapEx of $334M in 2024, plunged 52.0% below 2023.
Plug Power Capital Expenditures 2023: $696M
In 2023, Plug Power reported CapEx of $696M, surged 50.1% from 2022. This figure represents the highest annual value in the available history.
Plug Power Capital Expenditures 2022: $464M
Plug Power CapEx in 2022 was $464M, surged 140.0% from 2021.
Plug Power Capital Expenditures 2021: $193M
Plug Power CapEx in 2021 was $193M.
See more financial history for Plug Power (PLUG).
Sector peers by CapEx
Industrials peers of Plug Power (PLUG), ranked by their latest CapEx
| $20.7B | |
| $4.23B | |
| $3.79B | |
| $2.94B | |
| $2.63B | |
| $1.47B | |
| $1.27B | |
| $919M |
- $20.7B
- $4.23B
- $3.79B
- $2.94B
- $2.63B
- $1.47B
- $1.27B
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