Baker Hughes

Energy Oil & Gas Equipment & Services Houston, Texas Last filing Feb 5, 2026 · FY2025

                    Revenue
                    FY2025
                
$27.7B
                    3y CAGR +9.4%
                    
                    P89
                    
                    -0.3%
                    
                    Net income
                    FY2025
                
$2.6B
                    Net margin +9.3%
                    
                    P26
                    
                    -13.1%
                    
                    Total assets
                    FY2025
                
$40.9B
                    ROA +6.3%
                    
                    P59
                    
                    +6.6%
                    
                    Operating cash flow
                    FY2025
                
$3.8B
                    
                    +14.3%

11 yrs · FY2015–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

30 accounts · 3 years

Total assets $40.9B

Total liabilities $13.9B

Shareholders equity $18.8B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	9.1%	8.8%	7.2%
Short Term Investments	3.0%	3.3%	2.6%
Accounts Receivable	16.2%	18.6%	19.2%
Inventory	12.1%	12.9%	13.8%
Prepaid Expenses	8.6%	4.6%	4.0%
Other Current Assets	8.6%	4.6%	4.0%
Total Current Assets	46.1%	44.9%	44.1%
Property,Plant and Equipment	13.0%	13.4%	13.2%
Goodwill	14.8%	15.8%	16.6%
Intangible Assets	10.0%	10.3%	11.1%
Deferred Tax Assets	4.8%	3.3%	2.0%
Other Noncurrent Assets	7.3%	7.8%	8.2%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	11.2%	11.8%	12.1%
Accrued Liabilities	0.0%	3.2%	3.6%
Deferred Revenue	14.4%	14.8%	15.0%
Current Portion of Long Term Debt	1.7%	0.1%	0.4%
Other Current Liabilities	6.6%	7.1%	7.7%
Total Current Liabilities	33.9%	33.9%	35.2%
Long Term Debt	14.9%	15.7%	16.3%
Deferred Tax Liabilities	0.2%	0.2%	0.5%
Other Noncurrent Liabilities	3.5%	3.3%	3.8%
Total Liabilities	33.9%	33.9%	35.2%
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	60.5%	67.5%	73.0%
Retained Earnings	-8.0%	-15.2%	-23.9%
Accumulated Other Comprehensive Income	-6.5%	-8.2%	-7.6%
Noncontrolling Interest	0.4%	0.4%	0.4%
Total Stockholders Equity	46.1%	44.0%	41.6%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

12 accounts · 3 years

Revenue $27.7B

Operating income $3.1B

Net income $2.6B

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	67.8%	72.5%	69.0%
Expenses Research and Development	1.5%	1.7%	1.8%
Expenses Selling,General and Administrative	5.8%	6.4%	7.1%
Expenses Depreciation and Amortization	2.9%	3.0%	2.9%
Expenses Share Based Compensation	0.5%	0.5%	0.5%
Expenses Restructuring and Asset Impairment	0.5%	0.7%	0.8%
Other Income Expense Interest Expense	-0.5%	-0.5%	-0.6%
Other Income Expense Other Income/expense	-0.6%	0.9%	1.5%
Other Income Expense Income Before Tax	7.0%	8.5%	7.2%
Income Tax Income Tax Expense	0.6%	0.7%	1.9%
net Income net Income	6.3%	7.8%	5.3%
net Income Comprehensive Income	7.6%	6.8%	5.7%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 3 years

Operating cash flow $3.8B

Investing cash flow $-2.0B

Financing cash flow $-1.5B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	6.3%	7.8%	5.3%
Operating Activities Depreciation and Amortization	2.9%	3.0%	2.9%
Operating Activities Stock Based Compensation	0.5%	0.5%	0.5%
Operating Activities Deferred Income Taxes	-1.7%	-1.7%	-0.2%
Operating Activities Changes In Operating Assets and Liabilities	-1.2%	1.4%	8.4%
Operating Activities net Cash From Operating Activities	9.3%	8.7%	8.3%
Investing Activities Business Acquisitions	2.0%	0.0%	0.8%
Investing Activities Purchases of Investments	3.1%	3.3%	3.3%
Investing Activities Other Investing Activities	0.3%	0.1%	0.4%
Investing Activities net Cash From Investing Activities	-5.0%	-2.6%	-2.2%
Financing Activities Repayment of Debt	0.0%	0.4%	1.8%
Financing Activities Repurchase of Common Stock	0.9%	1.3%	1.5%
Financing Activities Dividends Paid	2.2%	2.2%	2.1%
Financing Activities Other Financing Activities	-0.5%	-0.2%	-0.1%
Financing Activities net Cash From Financing Activities	-3.6%	-4.0%	-5.5%
Cash Reconciliation Effect of Exchange Rate On Cash	0.2%	-0.2%	-0.2%
Cash Reconciliation net Change In Cash	0.9%	1.9%	0.4%
Cash Reconciliation Cash At Beginning of Period	9.1%	8.8%	7.2%
Cash Reconciliation Cash At End of Period	9.1%	8.8%	7.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	+11.1%	+9.1%
Operating margin	—	+11.1%	+9.1%
Net margin	+9.3%	+10.7%	+7.6%
FCF margin	—	—	—
Growth
Revenue CAGR (3y)	+9.4%	+10.7%	+7.2%
Returns
ROE	+13.7%	+17.6%	+12.6%
ROA	+6.3%	+7.8%	+5.3%
ROIC	—	+14.5%	+9.1%
Liquidity
Current ratio	1.36x	1.32x	1.25x
Quick ratio	0.75x	0.81x	0.75x
Leverage
D/E	0.74x	0.77x	0.85x
Interest coverage	—	-15.56x	-10.73x
Efficiency
Asset turnover	0.68x	0.73x	0.69x
Cash conversion cycle	—	+99d	+111d

Valuation

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FY2025 fundamentals · no price

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Baker Hughes

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