Baker Hughes Company (BKR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.49	$0.64	+30.6%	—	$6.7B	—
Q1 26	$0.49	$0.58	+18.4%	—	$6.6B	—
Q4 25	$0.67	$0.78	+16.4%	—	$7.4B	—
Q3 25	$0.62	$0.68	+9.7%	—	$7B	—
Q2 25	$0.55	$0.63	+14.5%	—	$6.9B	—
Q1 25	$0.47	$0.51	+8.5%	—	$6.4B	—
Q4 24	$0.63	$0.7	+11.1%	—	$7.4B	—
Q3 24	$0.61	$0.67	+9.8%	—	$6.9B	—
Q2 24	$0.49	$0.57	+16.3%	—	$7.1B	—
Q1 24	$0.4	$0.43	+7.5%	—	$6.4B	—
Q4 23	$0.48	$0.51	+6.3%	—	$6.8B	—
Q3 23	$0.4	$0.42	+5.0%	—	$6.6B	—
Q2 23	$0.33	$0.39	+18.2%	—	$6.3B	—
Q1 23	$0.26	$0.28	+7.7%	—	$5.7B	—
Q4 22	$0.4	$0.38	-5.0%	—	$5.9B	—
Q3 22	$0.25	$0.26	+4.0%	—	$5.4B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.62	—	—	$27.7B	—
FY24	—	$3	—	—	$27.8B	—
FY23	—	$1.93	—	—	$25.5B	—
FY22	—	-$0.61	—	—	$21.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$13.1B	$17.2B	$22.9B	$23.8B	$20.7B	$20.5B	$21.2B	$25.5B	$27.8B	$27.7B
YoY change	-21.6%	+31.3%	+33.2%	+4.2%	-13.1%	-0.98%	+3.19%	+20.6%	+9.11%	-0.34%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	13.1B	17.2B	22.9B	23.8B	20.7B	20.5B	21.2B	25.5B	27.8B	27.7B
Cost of revenue	10.2B	14.1B	18.9B	19.4B	17.5B	16.5B	16.8B	20.3B	22B	21.2B
Gross profit	2.9B	3B	4B	4.4B	3.2B	4B	4.4B	5.3B	5.8B	6.5B
Gross margin	22.4%	17.7%	17.4%	18.6%	15.5%	19.7%	20.8%	20.6%	21%	23.6%
Research & development	0	—	—	—	—	—	—	—	—	600M
Selling, general & administrative	1.9B	2.5B	2.7B	2.8B	2.4B	2.5B	2.5B	2.6B	2.5B	2.4B
Operating expenses	1.9B	2.5B	2.7B	2.8B	2.4B	2.5B	2.5B	2.6B	2.5B	3B
Operating income	1B	501M	1.3B	1.6B	795M	1.6B	1.9B	2.6B	3.4B	3.6B
Operating margin	7.69%	2.92%	5.63%	6.71%	3.84%	7.7%	8.93%	10.4%	12.2%	12.8%
Non-operating income, net	-546M	-716M	-523M	-610M	-15.7B	-852M	-1.6B	231M	81M	-458M
Pretax income	358M	-346M	541M	753M	-15.2B	428M	22M	2.7B	3.3B	2.9B
Income tax	173M	45M	258M	482M	559M	758M	600M	685M	257M	253M
Net income	185M	-391M	283M	271M	-15.8B	-330M	-578M	2B	3B	2.6B
Net margin	1.41%	-2.28%	1.24%	1.14%	-76.1%	-1.61%	-2.73%	7.72%	10.8%	9.46%
EBITDA	1.6B	1.7B	2.8B	2.9B	3.2B	2.1B	2B	4.3B	4.9B	4.7B
EPS	0.94	-0.24	0.46	0.23	-14.7	-0.27	-0.61	1.93	3	2.62
Diluted EPS	0.94	-0.24	0.45	0.23	-14.7	-0.27	-0.61	1.91	2.98	2.6

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	6.6B	6.8B	6.4B	7.1B	6.9B	7.4B	6.4B	6.9B	7B	7.4B	6.6B	6.7B
Cost of revenue	5.3B	5.4B	5.1B	5.6B	5.4B	5.8B	5B	5.3B	5.3B	5.6B	5.1B	5.2B
Gross profit	1.3B	1.4B	1.3B	1.5B	1.5B	1.5B	1.5B	1.6B	1.7B	1.8B	1.5B	1.6B
Gross margin	20.2%	21.2%	19.9%	20.9%	22.3%	20.8%	23%	23.4%	24.3%	23.7%	22.8%	23.4%
Research & development	—	—	—	—	—	—	146M	161M	146M	147M	133M	143M
Selling, general & administrative	627M	634M	618M	643M	612M	585M	577M	567M	607M	636M	562M	569M
Operating expenses	627M	634M	618M	643M	612M	585M	723M	728M	753M	783M	695M	712M
Operating income	716M	813M	660M	847M	930M	945M	752M	887M	948M	970M	809M	865M
Operating margin	10.8%	11.9%	10.3%	11.9%	13.5%	12.8%	11.7%	12.8%	13.5%	13.1%	12.3%	12.8%
Non-operating income, net	92M	-246M	22M	24M	134M	-98M	-140M	134M	-71M	-381M	551M	93M
Pretax income	759M	522M	641M	824M	1B	792M	561M	967M	821M	528M	1.3B	892M
Income tax	235M	71M	178M	243M	235M	-399M	152M	256M	204M	-359M	336M	210M
Net income	524M	451M	463M	581M	774M	1.2B	409M	711M	617M	887M	938M	682M
Net margin	7.89%	6.6%	7.21%	8.14%	11.2%	16.2%	6.36%	10.3%	8.8%	12%	14.2%	10.1%
EBITDA	1.1B	1B	972M	1.2B	1.3B	1.4B	897M	1.3B	1.2B	916M	1.1B	1.2B
EPS	0.51	0.44	0.46	0.58	0.77	1.19	0.41	0.71	0.62	0.89	0.94	0.69
Diluted EPS	0.51	0.43	0.45	0.58	0.77	1.18	0.4	0.71	0.61	0.88	0.93	0.68

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	27.9B	13.5B	9.1B	—	—	—	—	34.5B	40.8B	45B	56.7B
Enterprise value	27.2B	14.8B	12.6B	—	—	—	—	37.8B	43.4B	47.4B	56.8B
Shares outstanding	429M	427M	423.9M	555M	675M	824M	987M	1B	994M	988M	988M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	150.7	—	32.2	—	—	—	—	17.5	13.6	17.1	18.7
P/S	2.13	0.79	0.4	—	—	—	—	1.35	1.47	1.62	2.08
P/B	1.88	0.35	0.26	—	—	—	—	2.22	2.39	2.37	2.89
EV/EBITDA	17.4	8.86	4.45	—	—	—	—	8.84	8.86	10.1	11.7
EV/Sales	2.08	0.86	0.55	—	—	—	—	1.48	1.56	1.71	2.05
Earnings yield	0.66%	—	3.11%	—	—	—	—	5.72%	7.38%	5.83%	5.36%
FCF yield	-0.58%	-10.8%	8.42%	—	—	—	—	5.33%	5.04%	5.64%	7.79%
PEG	—	—	—	—	—	—	—	—	—	—	-6.63

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	22.4%	17.7%	17.4%	18.6%	15.5%	19.7%	20.8%	20.6%	21%	23.6%	23.4%
Operating margin	7.69%	2.92%	5.63%	6.71%	3.84%	7.7%	8.93%	10.4%	12.2%	12.8%	12.8%
Net margin	1.41%	-2.28%	1.24%	1.14%	-76.1%	-1.61%	-2.73%	7.72%	10.8%	9.46%	11.2%
ROE	1.25%	-1.02%	0.81%	0.79%	-86.4%	-1.97%	-3.98%	12.7%	17.6%	13.8%	16.5%
ROA	0.85%	-0.69%	0.54%	0.51%	-41.5%	-0.93%	-1.69%	5.33%	7.84%	6.42%	4.85%
ROIC	3.67%	1.26%	1.75%	1.52%	3.66%	0%	0%	10.4%	15.8%	15.2%	15.5%
Return on tangible assets	5.34%	-9.95%	-65.4%	22.1%	-91.3%	-2.18%	-4.14%	12%	16.4%	12.8%	9.33%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.5	2	1.66	1.52	1.61	1.65	1.32	1.25	1.32	1.36	2.1
Quick ratio	0.85	1.51	1.15	1.06	1.18	1.21	0.9	0.86	0.94	1	1.76
Debt / equity	0.02	0.22	0.21	0.19	0.42	0.4	0.46	0.39	0.35	0.32	0.81
Debt / assets	0.01	0.15	0.14	0.12	0.2	0.19	0.19	0.16	0.16	0.15	0.31
Net debt / EBITDA	-0.45	0.79	1.24	1.15	1.11	1.37	2.04	0.79	0.54	0.5	0.12
Interest coverage	4.51	-1.64	3.43	4.18	-56.6	2.43	1.09	13.3	17.5	14	14.1
Effective tax rate	48.3%	0%	47.7%	64%	0%	100%	100%	25.8%	7.87%	8.79%	11.1%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	30.5	40.2	54	43	30.7	24.9	21.4	25.3	28	28.1	28
EPS (basic)	0.94	-0.24	0.46	0.23	-14.7	-0.27	-0.61	1.93	3	2.62	2.62
EPS (diluted)	0.94	-0.24	0.45	0.23	-14.7	-0.27	-0.61	1.91	2.98	2.6	3.11
Book value per share	34.6	90	82.6	62.2	27	20.3	14.7	15.4	17.2	19.2	20.1
FCF per share	-0.38	-3.43	1.81	1.6	0.49	1.84	0.91	1.82	2.07	2.57	3.14
Cash per share	2.29	16.5	8.78	5.85	6.12	4.68	2.52	2.63	3.38	3.76	17.1
Capex per share	—	—	—	—	—	—	—	—	—	1.29	1.31

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	4.59%	4.72%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	33.4%	29.5%
Payout ratio	0%	-103.8%	286.2%	274.9%	-4.72%	-227%	-128.5%	39.9%	27.8%	34.7%	29.6%
Dividend yield	0%	3.01%	8.89%	—	—	—	—	2.28%	2.05%	2.02%	1.61%

Yield

1.61%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.23

ex-dividend Aug 7, 2026

Payout ratio

30%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 7, 2026	$0.23
May 5, 2026	$0.23
Feb 17, 2026	$0.23

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$6.6B	$6.8B	$6.4B	$7.1B	$6.9B	$7.4B	$6.4B	$6.9B	$7B	$7.4B	$6.6B	$6.7B
YoY change	+23.7%	+15.7%	+12.3%	+13%	+4.02%	+7.74%	+0.14%	-3.21%	+1.48%	+0.3%	+2.49%	-2.43%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	981M	7B	3.7B	3.2B	4.1B	3.9B	2.5B	2.6B	3.4B	3.7B
Receivables	1.7B	4.7B	5B	5.4B	4.7B	4.7B	5.1B	6B	5.9B	5.6B
Inventory	3.2B	4.5B	4.6B	4.6B	4.4B	4B	4.6B	5.1B	5B	5B
Total current assets	7.4B	18.4B	15B	15.2B	16.5B	15.1B	14.6B	16.3B	17.2B	18.8B
Property, plant & equipment	981M	3.8B	3.4B	3.4B	2.7B	2.6B	2.4B	2.6B	2.8B	2.8B
Goodwill & intangibles	18.3B	52.6B	52.9B	52.1B	20.7B	20.2B	20.2B	20.5B	20.1B	20.3B
Total assets	21.7B	56.5B	52.4B	53.4B	38B	35.3B	34.2B	36.9B	38.4B	40.9B
Accounts payable	1.9B	3.4B	4B	4.3B	3.5B	3.7B	4.3B	4.5B	4.5B	4.6B
Short-term debt	239M	2B	942M	321M	889M	40M	678M	148M	53M	689M
Total current liabilities	4.9B	9.2B	9B	10B	10.2B	9.1B	11.1B	13B	13B	13.9B
Long-term debt	38M	6.3B	6.3B	6.3B	6.7B	6.7B	6B	5.9B	6B	5.4B
Total liabilities	6.9B	18.1B	17.4B	18.9B	19.8B	18.6B	19.7B	21.4B	21.3B	21.9B
Shareholders' equity	14.9B	38.4B	35B	34.5B	18.2B	16.7B	14.5B	15.5B	17.1B	19B
Total debt	277M	8.3B	7.2B	6.6B	7.6B	6.7B	6.7B	6B	6B	6.1B
Net debt	-704M	1.3B	3.5B	3.4B	3.5B	2.9B	4.2B	3.4B	2.7B	2.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	3.2B	2.6B	2.7B	2.3B	—	—	—	—	2.7B	3.7B	14.8B	15.7B
Receivables	5.6B	6B	5.9B	6B	—	—	—	—	5.4B	5.6B	5.5B	5.6B
Inventory	5B	5.1B	5.3B	5.1B	5.3B	5B	5.2B	5.1B	5B	5B	4.9B	5B
Total current assets	16.2B	16.3B	16.4B	15.9B	—	—	—	—	17.5B	18.8B	28.6B	30.6B
Property, plant & equipment	-5.5B	2.6B	-5.8B	-5.9B	—	—	—	—	-6.6B	2.8B	-6.8B	-7B
Goodwill & intangibles	20.3B	20.5B	20.3B	20.2B	—	—	—	—	20.5B	20.3B	20.2B	19.1B
Total assets	36.5B	36.9B	37.1B	36.7B	—	—	—	—	39.2B	40.9B	50.9B	52.6B
Accounts payable	4.1B	4.5B	4.6B	4.6B	—	—	—	—	4.2B	4.6B	4.3B	4.5B
Short-term debt	802M	148M	147M	34M	—	—	—	—	68M	689M	753M	774M
Total current liabilities	12.7B	13B	13.2B	12.6B	—	—	—	—	12.4B	13.9B	13.4B	14.6B
Long-term debt	5.9B	5.9B	5.9B	5.9B	—	—	—	—	6B	5.4B	15.4B	15.5B
Total liabilities	21.2B	21.4B	21.6B	20.9B	—	—	—	—	20.9B	21.9B	31.4B	32.5B
Shareholders' equity	15.4B	15.5B	15.6B	15.7B	—	—	—	—	18.3B	19B	19.5B	20.1B
Total debt	6.7B	6B	6B	5.9B	—	—	—	—	6.1B	6.1B	16.2B	16.3B
Net debt	3.5B	3.4B	3.3B	3.6B	—	—	—	—	3.4B	2.4B	1.4B	526M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	185M	-391M	283M	271M	-15.8B	-330M	-578M	2B	3B	2.6B
Depreciation & amortization	550M	1.1B	1.5B	1.4B	1.3B	1.1B	1.1B	1.1B	1.1B	1.2B
Stock-based compensation	—	—	—	—	210M	205M	207M	197M	202M	203M
Change in working capital	-1.2B	-1.9B	191M	1.2B	720M	337M	180M	428M	-53M	394M
Operating cash flow	-545M	-1.5B	1.6B	2.7B	-13.4B	1.4B	975M	3.6B	3.6B	3.8B
Capital expenditure	—	—	—	—	—	—	—	—	—	-1.3B
Investing cash flow	-48M	-3.5B	417M	195M	356M	393M	-575M	407M	262M	-2B
Dividends paid	0	-406M	-810M	-745M	-744M	-749M	-743M	-786M	-836M	-910M
Share repurchases	0	-477M	-2.5B	-250M	0	-434M	-828M	-538M	-484M	-384M
Financing cash flow	-258M	10.9B	-4.7B	-2.1B	21M	-3B	-1.6B	-2B	-1.5B	-1.5B
Net change in cash	-851M	5.9B	-2.7B	782M	-13B	-1.1B	-1.2B	2B	2.4B	284M
Free cash flow	-162M	-1.5B	767M	886M	330M	1.5B	899M	1.8B	2.1B	2.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	524M	451M	463M	581M	773M	1.2B	409M	711M	617M	887M	938M	682M
Depreciation & amortization	268M	274M	283M	283M	278M	292M	285M	294M	282M	327M	354M	333M
Stock-based compensation	50M	49M	51M	50M	53M	48M	50M	52M	51M	50M	45M	57M
Change in working capital	99M	250M	63M	-604M	4M	484M	-122M	-464M	-2M	982M	-390M	540M
Operating cash flow	899M	897M	836M	367M	1.1B	1.3B	569M	629M	929M	1.7B	500M	1.3B
Capital expenditure	—	—	—	—	—	—	—	—	-295M	-377M	-336M	-300M
Investing cash flow	-180M	42M	64M	31M	10M	136M	-10M	15M	-1.1B	-393M	1B	-164M
Dividends paid	-202M	-200M	-210M	-209M	-209M	-208M	-229M	-227M	-227M	-227M	-228M	-228M
Share repurchases	-120M	-319M	-158M	-166M	-152M	-8M	-188M	-196M	0	0	0	0
Financing cash flow	-311M	-516M	-427M	-377M	-364M	-234M	-502M	-443M	-279M	-258M	9.5B	-236M
Net change in cash	408M	423M	473M	21M	756M	1.2B	57M	201M	-406M	1B	11.1B	945M
Free cash flow	529M	576M	451M	56M	710M	837M	409M	209M	634M	1.3B	164M	1B

Baker Hughes Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement