— Know what they know.
/
Not Investment Advice

BKR

NASDAQ · USD
Baker Hughes Company
Energy · Oil & Gas Equipment & Services
CEO Lorenzo Simonelli Employees 56,000 R&D / revenue 2.2%
Last price
$55.70+2.39%last session
Market cap
$55.3B
P/E (TTM)
17.7x
From 52w high
−20.9%
From 52w low
+25.8%
1-year return
+25.4%
RSI 14 · vs SMA200
43.2 · −6.9%
IS score
54.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

BKR   SPY   XLE (sector ETF) · weekly closes
100120140160Jan 26Apr 26Jul 26Oct 26XLE 160BKR 125SPY 116

Score DNA

Each bar is a 0-100 score within the scored universe
43
Profitability
41
Growth
65
Value
71
Momentum
50
Risk (safety)
68
Quality
83
Balance sheet
70
Earnings quality

Flags

Strengths
✓ Net cash✓ FCF yield 5%+
Warnings
▲ Share count rising
Observations
Moat model: Narrow, Efficient ScalePiotroski 5 / 9Altman Z 2.1Beta 0.962 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
7 open-market sales, $28.7M
Form 144 notices (12m): 17, $57.4M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−8
128 new holders, 123 closed
1,152 filers hold 98.2% · 448 added, 435 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+224
1,163 funds adding shares
939 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
35.0%
20-day avg 33.4%, 50-day avg 37.5%
Latest 1.6 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$27.7B
Revenue growth YoY−0.3%
Gross margin23.6%
Operating income$3.6B
Operating margin12.8%
Net income$2.6B
Net margin9.3%
EPS (diluted)$2.60
Cash flow
Operating cash flow$3.8B
Capital expenditure$1.3B
Free cash flow$2.5B
FCF conversion (FCF / OCF)66.6%
Stock-based compensation$203.0M
FCF less SBC$2.3B
Buybacks$384.0M
Dividends$910.0M
Balance sheet & returns
Cash & short-term investments$5.0B
Total debt$6.7B
Net debt$1.7B
Shareholders' equity$19.0B
Goodwill & intangibles$10.2B
Debt / equity0.82
ROE (TTM)16.3%
ROIC (TTM)9.2%
Operating margin by fiscal year
6.4%FY20215.6%FY20229.1%FY202311.1%FY202412.8%FY2025
Revenue $20.5B (FY2021) to $27.7B (FY2025), a 7.8% CAGR.

Valuation

P/E (TTM)17.7x
EV / EBITDA11.0x
Price / sales1.99x
Price / FCF17.7x
FCF yield5.66%
Buyback yield0.69%
SBC / revenue0.7%
Price / book2.77x
Forward P/E FY202620.8x
Forward P/E FY202718.6x
Forward P/E FY202815.6x
Forward multiples divide today's price by Street EPS estimates. Street mean target $70.92 across 13 analysts last quarter is theirs, not ours.

BKR vs industry median

135 companies in Oil & Gas Equipment & Services
Gross margin 23.6% 23.5% Operating margin 12.9% 8.0% Net margin 11.2% 4.6% ROIC 9.2% 5.5%
BKR (TTM)Industry median Asset turnover 0.53 vs industry 0.73 · financial leverage 2.64

Earnings delivery

Next report 2026-10-27 · consensus EPS $0.60
100%
beat rate, 12 of 12 quarters
+11.3%
median EPS surprise
12
longest beat streak
+5+6+7+16+10+12+8+14+10+17+18+27
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-25 to 2026-07-26. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
BKR Baker Hughes Company $55.3B17.7x16.3%11.2%−0.3% +25.4%
SLB Slb N.V. $73.5B23.8x13.3%8.8%+2.5% +51.5%
TS Tenaris S.A. $31.9B15.8x11.4%16.1%+2.3% +75.4%
HAL Halliburton Company $27.9B17.5x14.9%9.3%+0.6% +54.6%
FTI TechnipFMC plc $27.3B23.8x36.0%13.1%+9.5% +95.4%
NOV NOV Inc. $6.7B72.8x1.5%5.2%−1.7% —
DVN Devon Energy Corporation $55.8B12.0x11.5%25.8%+17.0% —
FANG Diamondback Energy, Inc. $57.1B39.8x4.1%33.8%+22.0% —
12-month window: SPY +15.9%, sector ETF XLE +60.0%. Past returns describe history only.

Recent 8-K filings

2026-10-01Exhibits
2026-09-09Regulation FD; Exhibits
2026-07-27Earnings Release; Regulation FD; Exhibits
2026-07-16Material Agreement; Termination of Agreement; Acquisition/Disposition; Financial Obligation; Regulation FD; Exhibits
2026-06-22Other Events
2026-05-21Other Events

Context

Shares outstanding992,674,000
Free float99.8%
Institutional ownership98.2%
Beta0.96
Dividend yield1.65%
Last dividend$0.23 on 2026-08-07
50 / 200-day average$59.94 / $59.85
Large-cap Energy median P/E17.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where BKR sits among 33 scored companies in Oil & Gas Equipment & Services (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureBKRIndustry medianIndustry percentileSector median
P/E (TTM) 17.9x 23.6x
26th		 16.6x
PEG (P/E ÷ 3-yr EPS CAGR) 0.45 0.23
71st		 0.72
Price / sales 2.0x 1.2x
62nd		 1.8x
Price / book 2.8x 1.9x
66th		 1.9x
Price / tangible book 5.3x 3.6x
73rd		 1.9x
Price / free cash flow 17.7x 16.0x
67th		 11.9x
Price / operating cash flow 12.5x 9.5x
77th		 6.9x
Enterprise value $54.5B $2.7B
97th		 $5.3B
EV / sales 2.0x 1.6x
62nd		 2.4x
EV / EBITDA 10.7x 9.6x
68th		 9.0x
EV / EBIT 14.4x 16.8x
29th		 14.1x
EV / free cash flow 17.4x 17.2x
57th		 14.6x
Earnings yield 5.6% 3.1%
78th		 4.6%
FCF yield 5.7% 5.4%
56th		 5.8%
Operating cash flow yield 8.0% 10.3%
25th		 13.6%
Graham number (per share) $37.40 $15.97
85th		 $32.92

Profitability (TTM)

MeasureBKRIndustry medianIndustry percentileSector median
Gross margin 23.6% 23.0%
53rd		 31.9%
EBITDA margin 18.3% 16.7%
66th		 26.7%
Operating margin 12.9% 11.4%
59th		 15.2%
EBIT margin 13.6% 10.1%
69th		 13.3%
Net margin 11.2% 5.8%
81st		 8.0%
NOPAT margin 13.0% 10.0%
69th		 12.4%
FCF margin 11.3% 6.4%
75th		 7.8%
Operating cash flow margin 16.0% 15.0%
56th		 21.8%
R&D / revenue 2.1% 0.0%
100th		 0.0%
SG&A / revenue 8.6% 10.0%
31st		 6.7%
Stock comp / revenue 0.7% 1.0%
26th		 0.7%
Effective tax rate -0.8% 21.2%
13th		 21.0%

Returns on capital

MeasureBKRIndustry medianIndustry percentileSector median
ROE (on average equity) 16.5% 6.9%
78th		 12.2%
ROA 6.8% 3.3%
78th		 4.8%
ROIC 18.9% 7.8%
78th		 9.9%
ROCE 10.0% 7.7%
62nd		 9.8%
Return on tangible assets 8.3% 7.0%
66th		 8.3%
Cash ROIC (OCF / invested capital) 23.2% 17.3%
81st		 18.4%
Gross profitability (GP / assets) 12.4% 14.4%
41st		 14.8%
ROIC, 3-yr average 34.3% 5.4%
100th		 7.0%
ROIC, 5-yr average 23.2% 5.9%
96th		 10.1%
ROE, 5-yr average 10.0% 8.7%
54th		 14.8%
Incremental ROIC 4.3% 6.4%
45th		 14.8%

Growth

MeasureBKRIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 0.4% 3.2%
35th		 10.2%
Revenue growth (QoQ) 2.4% 8.2%
25th		 13.0%
Revenue CAGR, 3 yr 6.0% 5.1%
59th		 2.0%
Revenue CAGR, 5 yr 6.3% 19.7%
12th		 13.7%
Gross profit CAGR, 3 yr 9.9% 7.2%
54th		 1.7%
Operating income CAGR, 3 yr 23.9% 7.0%
70th		 -2.0%
Net income growth (TTM YoY) 1.6% -12.5%
65th		 23.5%
Net income CAGR, 3 yr 39.1% -10.6%
68th		 -7.8%
EPS growth (TTM YoY) 1.1% -11.5%
62nd		 19.9%
EPS CAGR, 3 yr 40.0% -10.3%
68th		 -9.8%
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 44.4% 5.4%
76th		 19.9%
FCF CAGR, 3 yr 19.1% 9.6%
73rd		 -3.4%
Operating cash flow CAGR, 3 yr 16.4% 15.2%
54th		 3.2%
Book value CAGR, 3 yr 10.3% 7.6%
66th		 5.6%
Dividend CAGR, 3 yr 2.0% 1.4%
59th		 -0.1%
Sustainable growth rate 11.6% 5.8%
78th		 9.4%

Margin history & stability

MeasureBKRIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 22.1% 22.0%
52nd		 31.0%
Operating margin, 3-yr average 11.8% 9.3%
62nd		 15.4%
Net margin, 3-yr average 9.9% 6.0%
79th		 8.7%
FCF margin, 3-yr average 8.4% 6.0%
69th		 7.2%
Revenue stability (0-1) 0.90 0.81
79th		 0.64
Earnings stability (0-1) 0.91 0.40
86th		 0.22
Margin stability (0-1) 0.89 0.61
86th		 0.73

Liquidity (latest quarter)

MeasureBKRIndustry medianIndustry percentileSector median
Cash & short-term investments $17.1B $175.0M
100th		 $248.6M
Net cash (− = net debt) $803.0M −$193.8M
97th		 −$1.1B
Working capital $16.0B $420.6M
100th		 $205.0M
Current ratio 2.09 2.12
44th		 1.41
Quick ratio 1.76 1.58
62nd		 1.13
Cash ratio (cash + ST investments / current liabilities) 1.17 0.38
84th		 0.36
Defensive interval (days) 2,930 days 1,011 days
78th		 768 days

Leverage & solvency (latest quarter)

MeasureBKRIndustry medianIndustry percentileSector median
Total debt $16.3B $597.0M
100th		 $1.3B
Debt / equity 0.82 0.55
66th		 0.61
Net debt / equity −0.04 0.25
12th		 0.45
Debt / assets 30.9% 27.6%
66th		 28.7%
Debt / capital 44.9% 35.4%
66th		 37.9%
Debt / EBITDA 3.20 1.93
77th		 1.98
Net debt / EBITDA −0.16 1.01
13th		 1.43
Interest coverage (EBIT / interest) 14.1x 4.7x
90th		 4.1x
Cash interest coverage 16.5x 9.7x
71st		 6.7x
Debt payback (years of OCF) 3.7 yrs 2.4 yrs
68th		 2.3 yrs
Liabilities / assets 61.8% 53.5%
81st		 54.6%
IS credit model rating A- — —
Implied credit spread (bps) 175 175
47th		 275

Efficiency

MeasureBKRIndustry medianIndustry percentileSector median
Asset turnover 0.61 0.71
28th		 0.49
Fixed asset turnover 5.00 2.69
91st		 0.94
Inventory turnover 4.2 6.4
29th		 11.7
Receivables turnover 5.3 5.3
59th		 7.8
Days sales outstanding 69 days 69 days
41st		 46 days
Days inventory outstanding 87 days 57 days
71st		 31 days
Days payables outstanding 76 days 42 days
81st		 41 days
Cash conversion cycle (days) 79 days 73 days
62nd		 18 days
Capex / revenue 4.7% 6.1%
44th		 11.9%
Capex / depreciation 1.01 0.89
56th		 1.04
Operating expense ratio 10.7% 12.7%
34th		 16.5%

Cash flow & earnings quality

MeasureBKRIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.43 3.46
22nd		 2.02
FCF / net income 1.01 1.03
48th		 0.96
FCF / operating cash flow 70.5% 45.3%
68th		 48.4%
Capex / operating cash flow 29.5% 54.7%
32nd		 51.6%
Accruals ratio -2.9% -7.7%
84th		 -7.7%
Sloan accruals ratio 21.0% -4.0%
97th		 -4.7%
Earnings quality score (0-1) 1.00 0.75
81st		 0.75

Dividends & buybacks

MeasureBKRIndustry medianIndustry percentileSector median
Dividend yield 1.7% 0.8%
69th		 1.7%
Dividend per share (TTM) $0.92 $0.20
88th		 $0.66
Payout ratio (dividends / net income) 29.4% 32.5%
48th		 29.4%
Dividends / FCF 29.1% 14.7%
75th		 28.1%
Dividend growth (YoY) 3.7% 3.2%
53rd		 0.5%
Buyback yield 0.0% 0.4%
6th		 0.2%
Shareholder yield (dividends + buybacks) 1.6% 2.1%
44th		 3.2%
Share count change (YoY) 0.5% 0.6%
45th		 0.2%
Buybacks, last 5 years $1.5B $66.3M
84th		 $38.8M

Scores & forensic checks

MeasureBKRIndustry medianIndustry percentileSector median
IS score 55 45
72nd		 51
IS profitability 43 31
69th		 50
IS growth 41 37
61st		 61
IS value 65 50
81st		 57
IS momentum 71 65
71st		 77
IS risk (safety) 50 65
25th		 50
IS quality 68 67
59th		 68
IS balance sheet 83 67
81st		 55
IS earnings quality 70 61
84th		 65
IS cash flow 66 42
84th		 50
Piotroski F-score (0-9) 5 6
16th		 6
Altman Z-score 2.1 2.5
41st		 2.0
Beneish M-score −2.59 −2.62
55th		 −2.62
Ohlson O-score −8.43 −7.81
31st		 −7.87
IS credit score 68 69
47th		 58

Per share

MeasureBKRIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $3.11 $0.83
84th		 $1.88
Book value per share $19.99 $11.71
78th		 $14.22
Tangible book per share $10.62 $10.62
50th		 $12.86
Revenue per share $27.84 $15.68
88th		 $19.06
FCF per share $3.14 $0.98
78th		 $2.05
Operating cash flow per share $4.45 $3.28
66th		 $4.95
Cash per share $17.12 $1.70
100th		 $1.70

Size (TTM)

MeasureBKRIndustry medianIndustry percentileSector median
Market cap $55.3B $2.0B
97th		 $4.1B
Revenue $27.7B $1.4B
97th		 $2.0B
EBITDA $5.1B $286.0M
97th		 $606.3M
Net income $3.1B $61.6M
100th		 $134.0M
Free cash flow $3.1B $53.8M
97th		 $199.4M
Total assets $52.6B $2.5B
97th		 $4.4B
Shareholders' equity $19.9B $1.1B
97th		 $1.8B
Employees 54,000 2,893
97th		 1,717

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-03Gatti Amerino
EVP, Oilfield Services & Equip
 Option exercise 9,807——24,611
2026-09-03Gatti Amerino
EVP, Oilfield Services & Equip
 Tax withholding 3,860$63.64$245,65020,751
2026-09-03Gatti Amerino
EVP, Oilfield Services & Equip
 Option exercise 9,807——9,807
2026-07-01Borras Maria C
Chief Growth & Experience Ofcr
 Open-market sale 72,000$55.05$4.0M20,035
2026-06-22Simonelli Lorenzo
Director, Chairman, President and CEO
 Option exercise 99,911$35.55$3.6M884,855
2026-06-22Simonelli Lorenzo
Director, Chairman, President and CEO
 Open-market sale 181,411$58.43$10.6M703,444
2026-06-22Simonelli Lorenzo
Director, Chairman, President and CEO
 Option exercise 99,911$35.55$3.6M0
2026-06-15Moghal Ahmed Farhan
EVP, Chief Financial Officer
 Open-market sale 20,000$62.38$1.2M20,980
2026-06-15Moghal Ahmed Farhan
EVP, Chief Financial Officer
 Open-market sale 3,392$62.38$211,5930
2026-06-12Simonelli Lorenzo
Director, Chairman, President and CEO
 Option exercise 99,911$35.55$3.6M966,355
2026-06-12Simonelli Lorenzo
Director, Chairman, President and CEO
 Open-market sale 181,411$63.36$11.5M784,944
2026-06-12Simonelli Lorenzo
Director, Chairman, President and CEO
 Option exercise 99,911$35.55$3.6M99,911

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunJulSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired924,741—
Open-market saleDisposed7475,563$28.7M
Option exerciseAcquired4221,280$7.1M
Option exerciseDisposed4221,280$7.1M
Tax withholdingDisposed28,445$534,368
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 17 notices · 954,398 shares · $57.4M
FiledFilerShares proposedEst. proceeds
2026-07-01Borras Maria C72,000$4.0M
2026-06-22Simonelli Lorenzo181,411$10.6M
2026-06-15Moghal Ahmed Farhan3,392$211,593
2026-06-15Moghal Ahmed Farhan20,000$1.2M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 5 trades (2 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-01-09Gilbert CisnerosHouseSale$1,001 - $15,0002026-02-16
2026-01-09Gilbert CisnerosHouseSale (Partial)$1,001 - $15,0002026-02-13
2026-01-08Gilbert Ray CisnerosHouseSale (Partial)$1,001 - $15,0002026-02-13
2025-12-19Gilbert CisnerosHousePurchase$1,001 - $15,0002026-01-13
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.99,116,387$5.5B9.98%
VANGUARD CAPITAL MANAGEMENT LLC64,829,367$3.6B6.53%
STATE STREET CORP64,578,131$3.6B6.51%
JPMORGAN CHASE & CO60,023,496$3.4B6.05%
VANGUARD PORTFOLIO MANAGEMENT LLC49,046,664$2.7B4.94%
Capital World Investors47,479,630$2.6B4.78%
Invesco Ltd.35,339,082$2.0B3.56%
DODGE & COX34,854,482$1.9B3.51%
GEODE CAPITAL MANAGEMENT, LLC27,333,786$1.5B2.75%
Capital Research Global Investors22,032,387$1.2B2.22%
NORGES BANK20,396,484$1.1B2.05%
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main17,740,194$984.6M1.79%
PRICE T ROWE ASSOCIATES INC /MD/13,582,112$753.8M1.37%
Amundi11,553,139$641.2M1.16%
DIMENSIONAL FUND ADVISORS LP11,548,508$641.0M1.16%

Institutional ownership by quarter

2023-092026-0698.2%
% of shares held by 13F filers
2023-092026-061,152
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,15298.2%128448435123
2026-03-311,16093.2%23144233873
2025-12-311,01897.8%15940930184
2025-09-3095793.4%16133232172
2025-06-3088395.8%76343348140
2025-03-3196196.0%16239728280
2024-12-3189493.0%18233428757
2024-09-3078393.0%9931825863
2024-06-3075592.7%9228226982
2024-03-3175592.2%8630826690
2023-12-3176792.7%10130926376
2023-09-3075293.4%14027923245

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-07-27SCHEDULE 13G/AJPMORGAN CHASE & CO.6.9%69,128,703
2026-05-12SCHEDULE 13G/AJPMORGAN CHASE & CO5.8%57,998,529
2026-05-04SCHEDULE 13G/AJPMORGAN CHASE & CO.5.8%57,998,529
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%74,146,343
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.07%$1.7B
VTSAX0.07%$1.7B
VSMPX0.07%$1.7B
VTI0.07%$1.7B
VFINX0.08%$1.4B
VOO0.08%$1.4B

Share structure

Shares outstanding992,674,000
Float990,639,089
Free float99.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$20.5B$21.2B$25.5B$27.8B$27.7B
Cost of revenue$16.5B$16.8B$20.3B$21.9B$21.2B
Gross profit$4.0B$4.4B$5.3B$5.8B$6.5B
R&D$492.0M$0$0$643.0M$600.0M
SG&A$2.5B$2.5B$2.6B$2.5B$2.4B
Operating income$1.3B$1.2B$2.3B$3.1B$3.6B
EBITDA$1.8B$1.3B$4.0B$4.6B$4.3B
Pretax income$428.0M$22.0M$2.7B$3.3B$2.9B
Income tax$758.0M$600.0M$685.0M$257.0M$253.0M
Net income−$219.0M−$601.0M$1.9B$3.0B$2.6B
EPS, diluted$-0.27$-0.61$1.91$2.98$2.60
Diluted shares824.0M987.0M1.0B1.0B994.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$3.9B$2.5B$2.6B$3.4B$5.0B
Receivables$5.7B$6.0B$7.1B$7.1B$6.6B
Inventory$4.0B$4.6B$5.1B$5.0B$5.0B
Total current assets$15.1B$14.6B$16.3B$17.2B$18.8B
PP&E, net$4.9B$4.5B$4.9B$5.1B$5.9B
Goodwill & intangibles$10.1B$10.1B$10.2B$10.0B$10.2B
Total assets$35.3B$34.2B$36.9B$38.4B$40.9B
Accounts payable$3.7B$4.3B$4.5B$4.5B$4.6B
Total current liabilities$9.1B$11.1B$13.0B$13.0B$13.9B
Long-term debt$6.7B$6.0B$5.9B$6.0B$5.8B
Total liabilities$18.6B$19.7B$21.4B$21.3B$21.9B
Shareholders' equity$16.8B$14.5B$15.5B$17.1B$19.0B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$336.0M−$578.0M$2.0B$3.0B$2.6B
Depreciation & amortization$1.1B$1.1B$1.1B$1.1B$1.2B
Stock-based compensation$205.0M$207.0M$197.0M$202.0M$203.0M
Change in working capital$614.0M$122.0M$428.0M−$53.0M$394.0M
Operating cash flow$2.4B$1.9B$3.1B$3.3B$3.8B
Capital expenditure−$541.0M−$772.0M−$1.2B−$1.3B−$1.3B
Free cash flow$1.8B$1.1B$1.8B$2.1B$2.5B
Investing cash flow−$463.0M−$1.6B−$817.0M−$1.0B−$2.0B
Net debt issued / repaid−$936.0M−$28.0M−$651.0M−$143.0M$0
Buybacks−$434.0M−$828.0M−$538.0M−$484.0M−$384.0M
Dividends paid−$592.0M−$726.0M−$786.0M−$836.0M−$910.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin19.7%20.8%20.6%21.0%23.6%
Operating margin6.4%5.6%9.1%11.1%12.8%
Net margin-1.1%-2.8%7.6%10.7%9.3%
FCF margin8.9%5.3%7.4%7.4%9.2%
ROE-1.6%-4.1%13.1%18.5%14.5%
ROIC-5.7%-175.8%9.2%14.6%15.4%
ROA-0.6%-1.7%5.5%7.9%6.5%
Debt / equity0.450.460.390.360.38
Interest coverage2.4x1.1x13.3x17.5x14.0x
Current ratio1.651.321.251.321.36
Revenue growth−1.0%+3.2%+20.6%+9.1%−0.3%
EPS growth+98.3%−146.0%+423.7%+54.9%−12.7%
P/E at year endn/mn/m16.9x13.5x17.5x
EV / EBITDA at year end12.4x23.9x9.2x9.3x11.1x
FCF yield at year end9.26%4.02%5.72%5.12%5.61%
Dividend payout——40.4%28.1%35.2%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Oilfield Services And Equipment$9.5B$13.2B$15.4B$15.6B$14.3B
Industrial And Energy Technology—$7.9B$10.1B$12.2B$13.4B
Turbomachinery and Process Solutions$6.4B————
Oilfield Equipment$2.5B————
Digital Solutions$2.1B————

Revenue by region · FY2025

Non-US$20.0B · 72%
UNITED STATES$7.7B · 28%

Street estimates by fiscal year

Next report 2026-10-27 · consensus EPS $0.60 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$29.4B$29.3B – $29.5B$2.68$2.59 – $2.84920.8x
2027$32.2B$32.0B – $32.4B$2.99$2.68 – $3.19918.6x
2028$34.1B$32.8B – $35.1B$3.57$3.23 – $4.02515.6x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-26$0.50$0.64+27.5%$6.5B$6.7B+3.4%
2026-04-23$0.49$0.58+17.6%$6.3B$6.6B+3.9%
2026-01-25$0.67$0.78+16.8%$7.1B$7.4B+4.4%
2025-10-23$0.62$0.68+10.4%$6.8B$7.0B+2.6%
2025-07-22$0.56$0.63+13.5%$6.6B$6.9B+4.2%
2025-04-22$0.47$0.51+8.1%$6.5B$6.4B−1.1%
2025-01-30$0.62$0.70+12.2%$7.1B$7.4B+4.2%
2024-10-22$0.61$0.67+9.8%$7.2B$6.9B−4.2%
2024-07-25$0.49$0.57+16.3%$6.8B$7.1B+4.9%
2024-04-23$0.40$0.43+7.5%$6.4B$6.4B+0.7%
2024-01-23$0.48$0.51+6.3%$6.9B$6.8B−1.2%
2023-10-25$0.40$0.42+5.0%$6.5B$6.6B+1.7%
2023-07-19$0.33$0.39+18.2%$6.3B$6.3B+0.8%
2023-04-19$0.26$0.28+7.7%$5.5B$5.7B+3.7%
2023-01-23$0.41$0.38−7.3%$6.1B$5.9B−2.5%
2022-10-19$0.25$0.26+4.0%$5.4B$5.4B−0.8%
2022-07-20$0.22$0.11−50.0%$5.3B$5.0B−5.4%
2022-04-20$0.19$0.15−21.1%$5.0B$4.8B−3.4%
2022-01-20$0.28$0.25−10.7%$5.1B$5.5B+9.2%
2021-10-20$0.22$0.16−27.3%$5.3B$5.1B−4.5%
2021-07-21$0.17$0.10−41.2%$5.3B$5.1B−3.6%
2021-04-21$0.11$0.12+9.1%$4.8B$4.8B−0.2%
2021-01-21$0.16$-0.07−143.8%$11.9B$5.5B−53.9%
2020-10-21$0.04$0.04+11.1%$3.3B$5.0B+53.4%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.406-150.606-220.506-290.707-060.507-130.607-200.807-270.408-030.408-100.408-170.408-240.408-31
Week ofNotionalSharesTrades
2026-08-31$380.1M5,967,588111,673
2026-08-24$428.3M6,901,574114,085
2026-08-17$392.2M6,139,610114,671
2026-08-10$413.3M6,438,259113,007
2026-08-03$369.2M5,995,499124,521
2026-07-27$769.5M12,846,056178,660

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1535.0%
DateShort shareShort volumeTotal volume
2026-10-1535.0%926,5502,649,626
2026-10-1431.6%570,2421,803,799
2026-10-1320.0%364,1911,824,369
2026-10-1228.8%467,0701,620,431
2026-10-0929.9%277,892929,119
2026-10-0838.6%807,1442,091,512
2026-10-0731.3%576,3191,838,778
2026-10-0627.9%410,6611,471,902
2026-10-0526.9%543,7932,019,560
2026-10-0230.5%367,8891,205,721
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+1.5Jan+0.7Feb-1.4Mar+6.4Apr+1.4May-0.5Jun+4.0Jul-4.2Aug+0.0Sep+0.4Oct+3.0Nov-0.3Dec
MonthAvg returnUp yearsYears
Jan+1.5%50%20
Feb+0.7%55%20
Mar−1.4%62%21
Apr+6.4%60%20
May+1.4%55%20
Jun−0.5%50%20
Jul+4.0%65%20
Aug−4.2%40%20
Sep+0.0%60%20
Oct+0.4%55%20
Nov+3.0%65%20
Dec−0.3%55%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.2
MFI31.8
ADX17.9
Stochastic %K / %D32.2 / 35.3
Williams %R-50.1
CCI-82
TSI / signal-19.2 / -20.3
Chaikin money flow0.05
ATR$1.59
Bollinger width7.1%
Volume vs 20-day avg0.92x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$56.44 (−1.3%)
SMA 50$59.79 (−6.8%)
SMA 200$59.85 (−6.9%)
EMA 21$56.72 (−1.8%)
EMA 50$58.29 (−4.4%)
EMA 200$57.70 (−3.5%)
Bollinger upper$58.45 (−4.7%)
Bollinger lower$54.43 (+2.3%)
Parabolic SAR$57.88 (−3.8%)
Open the live chart, 110+ indicators

About Baker Hughes Company

Baker Hughes Co. is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations. The IET segment combines expertise, technologies, and services for industrial and energy customers including on and off-shore, LNG, pipeline and gas storage, refining, petrochemical, distributed gas, flow and process control, and industrial segments such as nuclear, aviation, automotive, marine, food and beverage, mining, cement and utilities. The company was founded in April 1987 and is headquartered in Houston, TX.

https://www.bakerhughes.com

Key executives

NameTitlePayBorn
Lorenzo SimonelliChairman, President & Chief Executive Officer$7.1M1973
Maria Claudia BorrasChief Growth & Experience Officer and Interim EVice President of Industrial & Energy Technology$2.9M1969
Amerino GattiExecutive Vice President of Oilfield Services & Equipment$2.0M1972
Ahmed MoghalExecutive Vice President & Chief Financial Officer$1.9M1982
Georgia MagnoChief Legal Officer$1.8M1979
Adrienne LynchVice President of Brand & External Communications——
Chase MulvehillVice President of Investor Relations——
Fernando ContrerasVice President, Chief Compliance Officer & Corporate Secretary——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Lorenzo Simonelli Chairman, President and CEO2025$1.7M$13.3M$3.6M$21.4M
Nancy Buese Former Executive Vice President and Chief Financial Officer2025$612,637$4.2M$0$6.1M
Maria Claudia Borras Chief Growth & Experience Officer & EVP–IET (Interim)2025$970,000$3.1M$1.1M$6.0M
Ahmed Moghal Chief Financial Officer2025$743,036$3.1M$951,008$5.2M
Amerino Gatti Executive Vice President–OFSE2025$900,000$2.6M$971,010$4.7M
Ganesh Ramaswamy Former Executive Vice President–IET2025$791,538$3.1M$0$4.3M

Employees

66k201868k201955k202054k202155k202258k202357k202456k2025

Dividends

Ex-dateAmountPaid
2026-08-07$0.232026-08-17
2026-05-05$0.232026-05-15
2026-02-17$0.232026-02-27
2025-11-04$0.232025-11-14
2025-08-05$0.232025-08-15
2025-05-06$0.232025-05-16
2025-02-11$0.232025-02-21
2024-11-04$0.212024-11-14

Moat model

Narrow · Efficient Scale · 2026-06-30
Cost advantage60
Intangibles63
Switching costs61
Network effect60
Efficient scale90
Our component scores (0-100) and overall 65.5; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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