Capital Expenditures for Plug Power (PLUG)
According to Plug Power's latest reported financial statements, the company's current capital expenditures (TTM) is $118.23M USD. 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 .
PLUG
Currently viewingCapital ExpendituresSwitch metric
Latest period
$118.23M
YoY change
-62.4%
5Y CAGR
+20.1%
Peak year (2023)
$696.13M
Cumulative capital expenditures
$2.04B
CapEx history chart for Plug Power (PLUG) from 1998 to 2025
CapEx history table for Plug Power (PLUG) from 1998 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $125.64M | -62.4% | ||
| 2024 | $334.25M | -52.0% | ||
| 2023 | $696.13M | +50.1% | ||
| 2022 | $463.87M | +140.0% | ||
| 2021 | $193.27M | +284.8% | ||
| 2020 | $50.22M | +311.1% | ||
| 2019 | $12.21M | -37.6% | ||
| 2018 | $19.57M | -55.9% | ||
| 2017 | $44.36M | -23.6% | ||
| 2016 | $58.08M | +1549.9% | ||
| 2015 | $3.52M | +149.1% | ||
| 2014 | $1.41M | +1173.0% | ||
| 2013 | $111,000 | +42.3% | ||
| 2012 | $78,000 | -94.1% | ||
| 2011 | $1.33M | +20.5% | ||
| 2010 | $1.10M | +106.5% | ||
| 2009 | $532,960 | -62.4% | ||
| 2008 | $1.42M | -51.8% | ||
| 2007 | $2.94M | +131.0% | ||
| 2006 | $1.27M | +27.5% | ||
| 2005 | $999,582 | -38.2% | ||
| 2004 | $1.62M | +157.7% | ||
| 2003 | $627,348 | -50.5% | ||
| 2002 | $1.27M | -52.7% | ||
| 2001 | $2.68M | -77.7% | ||
| 2000 | $11.99M | +11.2% | ||
| 1999 | $10.79M | +349.5% | ||
| 1998 | $2.40M | — |
CapEx values are taken from Plug Power's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Plug Power (PLUG) capital expenditures is $125.64M – plunged 62.4% year-over-year.
Plug Power capital expenditures compound annual growth for the 2020–2025 (5 years) window is +20.1%, with the latest reading among the more recent periods of the dataset.
Plug Power capital expenditures plunged from $696.13M in 2023 to $125.64M in 2025, a 82.0% drawdown.
The dataset's maximum capital expenditures sits at $696.13M (2023); the minimum reading of $78,000 dates to 2012.
Among 8 Industrials peers, Plug Power (PLUG) ranks 8th; the peer median for capital expenditures is $2.05B.
Plug Power Capital Expenditures by Year
Plug Power Capital Expenditures 2025: $125.64M
Plug Power capital expenditures in 2025 was $125.64M, plunged 62.4% below 2024.
Plug Power Capital Expenditures 2024: $334.25M
Plug Power capital expenditures in 2024 was $334.25M, plunged 52.0% below 2023.
Plug Power Capital Expenditures 2023: $696.13M
Plug Power capital expenditures in 2023 was $696.13M, surged 50.1% from 2022. This figure represents the highest annual value in the available history.
Plug Power Capital Expenditures 2022: $463.87M
Plug Power capital expenditures in 2022 was $463.87M, surged 140.0% from 2021.
Plug Power Capital Expenditures 2021: $193.27M
Plug Power capital expenditures in 2021 was $193.27M.
See more financial history for Plug Power (PLUG).
Sector peers — CapEx
Companies in the same sector as Plug Power, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Deere & Company (DE) | $4.23B | Industrials |
| Union Pacific Corporation (UNP) | $3.79B | Industrials |
| The Boeing Company (BA) | $2.94B | Industrials |
| RTX Corporation (RTX) | $2.63B | Industrials |
| Caterpillar Inc. (CAT) | $1.47B | Industrials |
| GE Aerospace (GE) | $1.27B | Industrials |
| Honeywell International Inc. (HON) | $986.00M | Industrials |
| Eaton Corporation plc (ETN) | $0 | Industrials |
Frequently asked questions
What is Plug Power's capital expenditures?
- Latest reported capital expenditures for Plug Power (PLUG) is $118.23M (period ending December 31, 2025).
How has Plug Power capital expenditures changed year-over-year?
- Plug Power (PLUG) capital expenditures changed -62.4% year-over-year on the latest annual filing.
What is the long-term growth rate of Plug Power capital expenditures?
- Plug Power (PLUG) capital expenditures compound annual growth rate is +20.1% over the most recent 5 years available.
When did Plug Power capital expenditures hit its highest annual value?
- Plug Power capital expenditures reached its highest annual value of $696.13M in 2023.
What was Plug Power capital expenditures in 2024?
- Plug Power (PLUG) capital expenditures in 2024 was $334.25M.
What was Plug Power capital expenditures in 2025?
- Plug Power (PLUG) capital expenditures in 2025 was $125.64M.
Metrics overview
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