Tearsheet

Baker Hughes (BKR)


Market Price (10/9/2025): $47.84 | Market Cap: $47.3 Bil
Sector: Energy | Industry: Oil & Gas Equipment & Services

Baker Hughes (BKR)


Market Price (10/9/2025): $47.84
Market Cap: $47.3 Bil
Sector: Energy
Industry: Oil & Gas Equipment & Services

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%
Weak multi-year price returns
2Y Excs Rtn is -7.0%
Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 14x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 3.4 Bil, FCF LTM is 2.2 Bil
  Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -3.2%
2 Low stock price volatility
Vol 12M is 36%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, CFO LTM is 3.4 Bil, FCF LTM is 2.2 Bil
2 Low stock price volatility
Vol 12M is 36%
3 Weak multi-year price returns
2Y Excs Rtn is -7.0%
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 14x
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -3.2%

Market Valuation & Key Metrics

BKR Stock


Price Returns Compared

 202020212022202320242025Total [1]
Returns
BKR Return-15%19%26%19%23%19%123%
Peers Return-33%5%63%11%-6%2%22%
S&P 500 Return16%27%-19%24%23%15%108%

Monthly Win Rates [3]
BKR Win Rate50%50%58%50%67%67% 
Peers Win Rate37%38%53%40%32%53% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
BKR Max Drawdown-63%-6%-13%-9%-17%-14% 
Peers Max Drawdown-59%-13%-1%-17%-18%-18% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: SLB, HAL, FTI, NOV, HMH. See BKR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/8/2025 (YTD)

Downturns Compared

Unique KeyEventBKRS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-47.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven89.3%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven674 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-63.6%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven174.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven420 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-64.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven181.6%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-73.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven279.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1480 days


How Low Can It Go?

Baker Hughes's stock fell -47.2% during the 2022 Inflation Shock from a high on 3/25/2022. A -47.2% loss requires a 89.3% gain to breakeven.

Preserve Wealth

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Asset Allocation

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About Baker Hughes (BKR)

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. It operates through four segments: Oilfield Services (OFS), Oilfield Equipment (OFE), Turbomachinery & Process Solutions (TPS), and Digital Solutions (DS). The OFS segment offers exploration, drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, wireline services, downhole completion tools and systems, wellbore intervention tools and services, pressure pumping systems, oilfield and industrial chemicals, and artificial lift technologies for oil and natural gas, and oilfield service companies. The OFE segment provides subsea and surface wellheads, pressure control and production systems and services, flexible pipe systems for offshore and onshore applications, and life-of-field solutions, including well intervention and decommissioning solutions; and services related to onshore and offshore drilling and production operations. The TPS segment provides equipment and related services for mechanical-drive, compression, and power-generation applications across the oil and gas industry. Its product portfolio includes drivers, compressors, and turnkey solutions; and pumps, valves, and compressed natural gas and small-scale liquefied natural gas solutions. This segment serves upstream, midstream, downstream, onshore, offshore, and industrial customers. The DS segment provides sensor-based process measurements, machine health and condition monitoring, asset strategy and management, control systems, as well as non-destructive testing and inspection, and pipeline integrity solutions. The company was formerly known as Baker Hughes, a GE company and changed its name to Baker Hughes Company in October 2019. Baker Hughes Company is based in Houston, Texas.

Better Bets than Baker Hughes (BKR)

Latest Trefis Analyses

Trade Ideas

Select past trade ideas related to BKR and Oil & Gas Equipment & Services.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TDW_9302025_Dip_Buyer_FCFYield09302025TDWTidewaterDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
1.3%1.3%-1.1%
OKE_9302025_Dip_Buyer_ValueBuy09302025OKEONEOKDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.7%-0.7%-0.7%
LEU_8312025_Quality_Momentum_RoomToRun_10%08312025LEUCentrus EnergyQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
83.4%83.4%-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy05312025KNTKKinetikDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-9.7%-9.7%-11.8%
WHD_4302025_Dip_Buyer_FCFYield04302025WHDCactusDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-3.3%-3.3%-3.3%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TDW_9302025_Dip_Buyer_FCFYield09302025TDWTidewaterDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
1.3%1.3%-1.1%
OKE_9302025_Dip_Buyer_ValueBuy09302025OKEONEOKDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.7%-0.7%-0.7%
LEU_8312025_Quality_Momentum_RoomToRun_10%08312025LEUCentrus EnergyQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
83.4%83.4%-1.3%
KNTK_5312025_Dip_Buyer_ValueBuy05312025KNTKKinetikDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-9.7%-9.7%-11.8%
WHD_4302025_Dip_Buyer_FCFYield04302025WHDCactusDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-3.3%-3.3%-3.3%

See Trefis Trade Ideas for more.

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Baker Hughes

Financials

BKRSLBHALFTINOVHMHMedian
NameBaker Hu.Schlumbe.Hallibur.TechnipF.NOV HMH  
Mkt Price47.8533.9723.9237.9213.66-33.97
Mkt Cap47.345.920.515.85.1-20.5
Rev LTM27,60935,47922,2349,4848,790-22,234
Op Inc LTM3,5146,0173,4331,175696-3,433
FCF LTM2,1654,6052,1491,318909-2,149
FCF 3Y Avg1,8374,0602,145824298-1,837
CFO LTM3,4196,6413,5701,6431,276-3,419
CFO 3Y Avg3,0366,0743,5041,073607-3,036

Growth & Margins

BKRSLBHALFTINOVHMHMedian
NameBaker Hu.Schlumbe.Hallibur.TechnipF.NOV HMH  
Rev Chg LTM2.1%0.9%-4.1%11.5%-1.2%-0.9%
Rev Chg 3Y Avg10.7%13.1%9.2%14.2%13.5%-13.1%
Rev Chg Q-3.2%-6.5%-5.5%9.0%-1.3%--3.2%
QoQ Delta Rev Chg LTM-0.8%-1.6%-1.4%2.3%-0.3%--0.8%
Op Mgn LTM12.7%17.0%15.4%12.4%7.9%-12.7%
Op Mgn 3Y Avg11.3%16.6%16.9%8.8%7.9%-11.3%
QoQ Delta Op Mgn LTM0.3%-0.4%-1.1%0.7%-1.9%--0.4%
CFO/Rev LTM12.4%18.7%16.1%17.3%14.5%-16.1%
CFO/Rev 3Y Avg11.7%17.8%15.5%12.4%6.8%-12.4%
FCF/Rev LTM7.8%13.0%9.7%13.9%10.3%-10.3%
FCF/Rev 3Y Avg7.1%11.9%9.5%9.4%3.2%-9.4%

Valuation

BKRSLBHALFTINOVHMHMedian
NameBaker Hu.Schlumbe.Hallibur.TechnipF.NOV HMH  
Mkt Cap47.345.920.515.85.1-20.5
P/S1.71.30.91.70.6-1.3
P/EBIT13.37.97.113.47.3-7.9
P/E15.511.211.017.310.9-11.2
P/CFO13.86.95.79.64.0-6.9
Total Yield8.3%12.3%12.0%6.3%13.0%-12.0%
Dividend Yield1.8%3.4%2.9%0.5%3.8%-2.9%
FCF Yield 3Y Avg5.2%7.1%8.9%7.0%6.0%-7.0%
D/E0.10.30.40.10.5-0.3
Net D/E0.10.20.30.00.3-0.2

Returns

BKRSLBHALFTINOVHMHMedian
NameBaker Hu.Schlumbe.Hallibur.TechnipF.NOV HMH  
1M Rtn4.8%-5.1%9.9%-3.5%3.8%-3.8%
3M Rtn22.3%-5.5%9.3%8.0%2.4%-8.0%
6M Rtn24.9%-4.0%10.1%45.3%10.1%-10.1%
12M Rtn30.6%-20.7%-18.1%41.1%-11.6%--11.6%
3Y Rtn124.9%-14.4%-16.0%309.7%-21.2%--14.4%
1M Excs Rtn1.6%-8.8%6.3%-8.1%1.6%-1.6%
3M Excs Rtn13.6%-14.1%1.2%-0.1%-7.7%--0.1%
6M Excs Rtn2.8%-27.5%-9.4%28.5%-9.0%--9.0%
12M Excs Rtn11.5%-40.5%-38.3%22.0%-31.8%--31.8%
3Y Excs Rtn47.4%-88.4%-86.8%248.5%-98.6%--86.8%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Oilfield Services & Equipment (OFSE)15,36113,22912,028  
Industrial & Energy Technology (IET)10,1457,9268,473  
Digital Solutions   2,0152,492
Oilfield Equipment   2,8442,921
Oilfield Services   10,14012,889
Turbomachinery & Process Solutions   5,7055,536
Total25,50621,15520,50120,70423,838


Operating Income by Segment
$ Mil20242023202220212020
Oilfield Services & Equipment (OFSE)1,7461,201830  
Industrial & Energy Technology (IET)1,3101,1351,177  
Inventory impairment-35-310-246 
Restructuring, impairment and other-323-705-269-1,866-342
Corporate costs-380-416-429-464-433
Digital Solutions   193343
Goodwill impairment   -14,773 
Oilfield Equipment   1955
Oilfield Services   487917
Separation and merger related   -134-184
Turbomachinery & Process Solutions   805719
Total2,3181,1841,309-15,9791,075


Assets by Segment
$ Mil20242023202220212020
Oilfield Services & Equipment (OFSE)17,925    
Industrial & Energy Technology (IET)13,781    
Corporate and eliminations5,239  6,2822,765
Digital Solutions   3,9483,983
Oilfield Equipment   3,3447,645
Oilfield Services   15,48230,611
Turbomachinery & Process Solutions   8,9518,365
Total36,945  38,00753,369


Price Behavior

Short Interest

Short Interest: As Of Date9152025
Short Interest: Shares Quantity21,565,563
Short Interest: % Change Since 8312025-14.8%
Average Daily Volume5,404,232
Days-to-Cover Short Interest3.99
Basic Shares Quantity988,000,000
Short % of Basic Shares2.2%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/202511.6%14.3%7.6%
4/22/2025-6.4%-6.4%-3.9%
1/30/20253.5%5.3%-1.8%
10/22/20242.8%3.1%23.8%
7/25/20245.8%5.8%-0.4%
4/23/2024-1.0%-1.2%-2.1%
1/23/2024-4.7%-6.9%-6.7%
10/25/20232.9%2.4%0.2%
...
SUMMARY STATS   
# Positive151413
# Negative101112
Median Positive3.0%3.2%7.6%
Median Negative-2.7%-4.4%-6.2%
Max Positive11.6%14.3%37.9%
Max Negative-8.3%-14.7%-11.6%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025723202510-Q 6/30/2025
3312025423202510-Q 3/31/2025
12312024204202510-K 12/31/2024
93020241023202410-Q 9/30/2024
6302024726202410-Q 6/30/2024
3312024424202410-Q 3/31/2024
12312023205202410-K 12/31/2023
93020231026202310-Q 9/30/2023
6302023719202310-Q 6/30/2023
3312023419202310-Q 3/31/2023
12312022214202310-K 12/31/2022
93020221020202210-Q 9/30/2022
6302022721202210-Q 6/30/2022
3312022420202210-Q 3/31/2022
12312021211202210-K 12/31/2021
93020211022202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Charlton Rebecca LSVP, Controller & CAO9252025Sell50.001,00050,000588,600Form
1RAMASWAMY SREEGANESHEVP, Industrial & Energy Tech9252025Sell50.0025,0001,250,0002,026,000Form
2Charlton Rebecca LSVP, Controller & CAO7252025Sell45.0050022,500574,740Form
3Charlton Rebecca LSVP, Controller & CAO6162025Sell38.746,000232,440514,157Form
4BORRAS MARIA CChief Growth & Experience Ofcr6112025Sell38.2454,3352,077,7704,460,428Form