FirmAtlas
Company handbook · BKR · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
BKR · CIK 1701605 · LATEST FILING: 10-Q JUN '26 · FILED JUL 27, 2026
Baker Hughes Company
$55.70
+1.30 (+2.39%)
Close, Oct 16, 2026 · 52-week $44–70
Last fiscal year
Baker Hughes Company reported revenue of $27.7B for the year ended Dec 31, 2025 (FY25), down 0.3% from FY24. Net income was $2.6B, operating cash flow $3.8B and free cash flow $2.5B. Source: 10-K filed Feb 5, 2026.
Div yield
1.65%
Revenue 1Y
−0.3%/yr
EPS 1Y
n/m
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOLorenzo Simonelli
HQHouston, TX
AuditorKPMG LLP
Employees56,000
Year endsDecember
Revenue by segment · FY25
Oilfield Services And Equipment52%
Industrial And Energy Technology48%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
0.7%
15.7%
16.6%
24.8%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$6.0B deployed
Capex
$2.6B
42.6%
Acquisitions
$830M
13.8%
Dividends
$1.7B
29.1%
Buybacks
$868M
14.5%
Operating cash flow over the period: $7.1B. Total debt changed by −$572M. R&D of $1.2B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
27,829
27,733−0.3%
27,725
YoY
−0.3%
Operating income
3,081
—
—
Operating margin
11.1%
—
—
EBITDA
4,217
—
—
EBITDA margin
15.2%
—
—
Interest expense
298
294−1.3%
—
Interest coverage
14.15x
—
—
Net income
2,979
2,588−13.1%
3,096
YoY
−13.1%
Net margin
10.7%
9.3%−1.4 pp
—
EPS (diluted, $)
2.98
—
—
YoY
Balance sheet
Total assets
38,363
40,881+6.6%
52,620
Cash & short-term investments
3,364
3,715+10.4%
—
Accounts receivable
7,122
6,641−6.8%
—
Inventory
4,954
4,954+0.0%
—
Net PP&E
5,127
5,326+3.9%
—
Other assets
17,796
20,245+13.8%
—
Total liabilities
21,468
22,047+2.7%
32,712
Accounts payable
4,542
4,579+0.8%
—
Total debt
5,970
5,398−9.6%
15,479
Other liabilities
10,956
12,070+10.2%
—
Shareholders’ equity
16,895
18,834+11.5%
19,908
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
3,332
3,810+14.3%
4,436
Net income
3,008
2,624−12.8%
—
Depreciation & amortization
1,136
1,188+4.6%
—
Stock-based compensation
202
203+0.5%
—
Working capital & other
(1,014)
(205)n/m
—
Cash from investing
(1,016)
(2,044)n/m
—
Capex
(1,278)
(1,273)n/m
—
PP&E sold
203
195−3.9%
—
Acquisitions
0
(830)n/m
—
Other investing
59
(136)−330.5%
—
Cash from financing
(1,527)
(1,482)n/m
—
Debt repaid
(143)
0n/m
—
Dividends
(836)
(910)n/m
—
Buybacks
(484)
(384)n/m
—
Other financing
(64)
(188)n/m
—
Net change in cash
718
351−51.1%
—
Free cash flow (OCF − capex)
2,054
2,537+23.5%
3,128
Where the cash went
Operating cash flow
3,332
3,810+14.3%
4,436
Reinvested in the business
1,278
2,103+64.6%
—
% of operating cash flow
38.4%
55.2%
Capex
1,278
1,273−0.4%
1,308
Acquisitions
0
830n/m
—
R&D (memo, already in costs)
643
600−6.7%
—
Free cash flow
2,054
2,537+23.5%
3,128
YoY
+23.5%
Returned to shareholders
1,320
1,294−2.0%
—
% of free cash flow
64.3%
51.0%
Dividends
836
910+8.9%
—
Buybacks
484
384−20.7%
—
Change in total debt
—
(572)
—
Cash left over
—
(159)
—
FCF conversion (FCF ÷ net income)
68.9%
98.0%+29.1 pp
—
Owner earnings
—
3,021
—
Owner earnings margin
—
10.9%
—
Returns & ratios
ROIC (all capital)
14.6%
—
—
ROIC (operating)
22.4%
—
—
Net debt / EBITDA
0.62x
—
—
Debt / equity
0.35x
0.29x−0.07x
—
Cash conversion cycle (days)
99
92−6 d
—
ROE
17.6%
13.7%−3.9 pp
—
ROA
7.8%
6.3%−1.4 pp
—
ROCE
12.1%
—
—
NOPAT
2,838
—
—
Invested capital (operating)
12,661
12,342−2.5%
—
Invested capital (all)
19,501
20,517+5.2%
—
Debtor days
93
87−6 d
—
Inventory days
65
65+0 d
—
Days payable
60
60+1 d
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
7,010
7,386
6,587
6,742
vs year-ago quarter
Net income
609
876
930
681
vs year-ago quarter
Net margin
8.7%
11.9%
14.1%
10.1%
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
39,233
40,881
50,896
52,620
Cash & equivalents
2,693
3,715
14,764
15,727
Total debt
5,988
5,398
15,411
15,479
Shareholders’ equity
18,157
18,834
19,314
19,908
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
929
1,662
500
1,345
Capex
295
377
336
300
Free cash flow
634
1,285
164
1,045
vs year-ago quarter