BKRNasdaqOil & Gas Field Machinery & EquipmentFiscal year ends December 31
Baker Hughes Co
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 27, 2026
$55.81+0.11 (+0.20%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
–
Operating margin
–
Net margin
9.3%+57.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -0.3% | +9.4% | +6.0% | +5.2% | |
| Net income | -13.1% | – | – | – | |
| Free cash flow | +23.5% | +41.3% | +50.4% | +14.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -57.1% | 14.5% | |
| Return on assets | – | -21.8% | 6.5% | |
| Current ratio | 1.50 | 1.61 | 1.36 | |
| Debt to equity | 0.02 | 0.59 | 0.32 | |
| Net debt to EBITDA | -0.70× | -0.24× | – | |
| Inventory turnover | – | – | – | |
| Capex to revenue | 3.2% | 4.7% | 4.6% |
Where the cash went
Fiscal 2021 to 2025, five years combined
Baker Hughes generated $14.47B from operations and spent $12.14B on capital expenditure, dividends and share buybacks. 46% of that went back into the business.
Generated
$14.47B
Used
$12.14B
Capital expenditure$5.62B46%Dividends$3.85B32%Share buybacks$2.67B22%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin9.3%
×Asset turnover0.70×
×Equity multiplier2.22×
=Return on equity, FY202514.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 9.3% | 0.70× | 2.22× | 14.5% |
| FY2024 | 10.7% | 0.74× | 2.33× | 18.5% |
| FY2023 | 7.6% | 0.72× | 2.39× | 13.1% |
| FY2022 | -2.8% | 0.61× | 2.38× | -4.1% |
| FY2021 | -1.1% | 0.56× | 2.64× | -1.6% |
| FY2020 | -48.0% | 0.45× | 2.62× | -57.1% |
| FY2019 | 0.5% | 0.45× | 2.69× | 0.6% |
| FY2018 | 0.9% | 0.42× | 3.43× | 1.2% |
| FY2017 | -0.6% | 0.44× | 2.70× | -0.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$2.59B
- Cash generatingOperating cash flow above zero$3.81B
- Return on assets improvedROA up on the prior year8.1% → 6.7%
- Earnings backed by cashOperating cash flow above net income$3.81B vs $2.59B
- Less leverageLong-term debt to assets fell15.6% → 13.2%
- Better liquidityCurrent ratio rose1.32 → 1.36
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.75 → 0.72