BKR

MKT CAP:$69B

Baker Hughes Company

Market Cap

$69B

Energy·Oil & Gas Equipment & Services·🇺🇸 United States·NASDAQ

Energy·Oil & Gas Equipment & Services·🇺🇸·NASDAQ

Stock Price

$69.73+$22.59 (+47.93%)

Apr 24, 2026

Company Details

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 ...

CEO

Lorenzo Simonelli

IPO Date

Apr 6, 1987

Website

www.bakerhughes.com

Key Metrics TTM

Revenue

$27.1B

+17.7% YoY

Net Income

$2.7B

EPS (Diluted)

$2.73

Free Cash Flow

$1.7B

Revenue / Share

$27.16

Gross Margin

22.7%

Operating Margin

11.9%

Net Margin

10.1%

FCF Margin

6.3%

P/S

2.6x

P/E

25.3x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$6.6BEPS $0.93

FY 2024

Feb 4, 2025

$27.8BEPS $2.98

Q3 2024

Oct 23, 2024

$6.9BEPS $0.77

Q2 2024

Jul 26, 2024

$7.1B+13.0%EPS $0.58

Q1 2024

Apr 24, 2024

$6.4B+12.3%EPS $0.45

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 19	$5.6B	$976M	$176M
Q3 19	$5.9B	$1.1B	$297M
Q4 19	$6.3B	$1.3B	$330M
Q3 20	$5.0B	$757M	-$49M
Q4 20	$5.5B	$1.0B	$182M
Q3 21	$5.1B	$1.0B	$378M
Q4 21	$5.5B	$1.2B	$574M
Q1 22	$4.8B	$970M	$279M
Q2 22	$5.0B	$970M	-$25M
Q4 22	$5.9B	$1.3B	$663M
Q1 23	$5.7B	$1.1B	$438M
Q2 23	$6.3B	$1.3B	$514M
Q1 24	$6.4B	$1.3B	$653M
Q2 24	$7.1B	$1.6B	$833M
Q3 24	$6.9B	$1.7B	$930M
Q1 26	$6.6B	$1.5B	$809M

Valuation

Quarter	P/S	P/E
Q1 19	0.6x	54.3x
Q3 19	0.7x	52.0x
Q4 19	0.7x	62.2x
Q3 20	0.4x	—
Q4 20	0.7x	25.3x
Q3 21	1.0x	39.3x
Q4 21	1.1x	30.0x
Q1 22	1.7x	33.8x
Q2 22	1.4x	—
Q4 22	1.5x	—
Q1 23	1.4x	—
Q2 23	1.4x	96.3x
Q1 24	1.4x	20.5x
Q2 24	1.4x	17.2x
Q3 24	1.3x	16.3x
Q1 26	2.2x	22.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 19	-$184M	-$419M
Q3 19	$360M	$81M
Q4 19	$1.4B	$1.3B
Q3 20	$219M	$52M
Q4 20	$378M	$251M
Q3 21	$416M	$305M
Q4 21	$773M	$644M
Q1 22	$72M	-$105M
Q2 22	$321M	$147M
Q4 22	$898M	$657M
Q1 23	$461M	$197M
Q2 23	$858M	$582M
Q1 24	$784M	$451M
Q2 24	$348M	$56M
Q3 24	$1.0B	$710M
Q1 26	$500M	$500M

Capital Expenditures

Quarter	CapEx
Q1 19	$235M
Q3 19	$279M
Q4 19	$103M
Q3 20	$167M
Q4 20	$127M
Q3 21	$111M
Q4 21	$129M
Q1 22	$177M
Q2 22	$174M
Q4 22	$241M
Q1 23	$264M
Q2 23	$276M
Q1 24	$333M
Q2 24	$292M
Q3 24	$300M
Q1 26	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 19	+69.0%	+81.7%
Q3 19	+2.1%	-4.6%
Q4 19	+17.6%	+10.6%
Q3 20	-19.4%	-13.3%
Q4 20	-2.1%	-2.3%
Q3 21	-13.4%	-15.6%
Q4 21	-13.6%	-18.4%
Q1 22	-4.2%	-10.6%
Q2 22	-8.2%	-4.5%
Q4 22	+15.9%	+11.2%
Q1 23	+4.2%	+7.5%
Q2 23	+30.6%	+27.3%
Q1 24	+27.2%	+13.7%
Q2 24	+20.9%	+20.3%
Q3 24	+20.9%	+13.3%
Q1 26	+4.3%	-0.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 19	$0	0.0%
Q3 19	$0	0.0%
Q4 19	$187M	2.9%
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$52M	1.1%
Q2 22	$50M	1.0%
Q4 22	$207M	3.5%
Q1 23	$49M	0.9%
Q2 23	$49M	0.8%
Q1 24	$51M	0.8%
Q2 24	$50M	0.7%
Q3 24	$53M	0.8%
Q1 26	$45M	0.7%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 19	—	$704M
Q3 19	—	$679M
Q4 19	$687M	$748M
Q3 20	—	$565M
Q4 20	—	$574M
Q3 21	—	$607M
Q4 21	—	$634M
Q1 22	—	$621M
Q2 22	—	$624M
Q4 22	—	$645M
Q1 23	—	$655M
Q2 23	—	$695M
Q1 24	—	$618M
Q2 24	$158M	$643M
Q3 24	—	$612M
Q1 26	$133M	$562M

Revenue Segments

Quarter	Digital Solutions	Oilfield Equipment	Oilfield Services And Equipment	Turbomachinery and Process Solutions	Industrial And Energy Technology
Q1 19	$592M	$735M	$3.0B	$1.3B	—
Q3 19	$609M	$728M	$3.3B	$1.2B	—
Q4 19	$659M	$765M	$3.3B	$1.6B	—
Q3 20	$503M	$726M	$2.3B	$1.5B	—
Q4 20	$555M	$710M	$2.3B	$1.9B	—
Q3 21	$510M	$603M	$2.4B	$1.6B	—
Q4 21	$557M	$618M	$2.6B	$1.7B	—
Q1 22	$474M	$528M	$2.5B	$1.3B	—
Q2 22	$524M	$541M	$2.7B	$1.3B	—
Q4 22	—	—	$5.2B	—	$694M
Q1 23	—	—	$3.6B	—	$2.1B
Q2 23	—	—	$3.9B	—	$2.4B
Q1 24	—	—	$3.8B	—	$2.6B
Q2 24	—	—	$4.0B	—	$3.1B
Q3 24	—	—	$4.0B	—	$2.9B

Revenue by Geography

Quarter	Non-US	United States
Q1 19	$4.1B	$1.5B
Q3 19	$4.4B	$1.5B
Q4 19	$4.8B	$1.6B
Q3 20	$4.0B	$1.0B
Q4 20	$4.2B	$1.3B
Q3 21	$3.9B	$1.2B
Q4 21	$4.3B	$1.2B
Q1 22	$3.7B	$1.1B
Q2 22	$3.8B	$1.2B
Q4 22	$4.6B	$1.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$2.9B	$0	$2.9B
Q3 22	$2.9B	$0	$2.9B
Q4 22	$2.5B	$0	$2.5B
Q1 23	$2.4B	$0	$2.4B
Q2 23	$2.8B	$0	$2.8B
Q3 23	$3.2B	$0	$3.2B
Q4 23	$2.6B	$0	$2.6B
Q1 24	$2.7B	$0	$2.7B
Q2 24	$2.3B	$0	$2.3B
Q3 24	$2.7B	$0	$2.7B
Q4 24	$3.4B	$0	$3.4B
Q1 25	$3.3B	$0	$3.3B
Q2 25	$3.1B	$0	$3.1B
Q3 25	$2.7B	$0	$2.7B
Q4 25	$3.7B	$1.2B	$5.0B
Q1 26	$14.8B	$0	$14.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 19	533M	+14.0%	+24.0%
Q3 19	541M	+1.4%	+26.7%
Q4 19	653M	+20.7%	+54.7%
Q3 20	676M	+3.5%	+44.5%
Q4 20	717M	+6.1%	+34.4%
Q3 21	857M	+19.5%	+58.4%
Q4 21	906M	+5.7%	+38.7%
Q1 22	948M	+4.6%	+40.2%
Q2 22	1.00B	+5.6%	+39.6%
Q4 22	1.01B	+0.8%	+17.7%
Q1 23	1.02B	+0.9%	+12.4%
Q2 23	1.01B	-0.3%	+7.1%
Q1 24	1.00B	-1.1%	+0.3%
Q2 24	1.00B	-0.3%	-0.8%
Q3 24	999M	-0.2%	-1.9%
Q1 26	996M	-0.3%	-1.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 19	$85.1K	66K
Q3 19	$89.1K	66K
Q4 19	$93.3K	68K
Q3 20	$74.3K	68K
Q4 20	$99.9K	55K
Q3 21	$92.6K	55K
Q4 21	$101.6K	54K
Q1 22	$89.5K	54K
Q2 22	$93.5K	54K
Q4 22	$107.4K	55K
Q1 23	$103.9K	55K
Q2 23	$114.8K	55K
Q1 24	$110.7K	58K
Q2 24	$123.1K	58K
Q3 24	$119.1K	58K
Q1 26	$117.6K	56K

Revenue / Employee