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

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	$3.7B 10.4%	$3.4B 27.1%	$2.6B
Short Term Investments	$1.2B -5.0%	$1.3B 31.4%	$975.0M
Accounts Receivable	$6.6B -6.8%	$7.1B 0.7%	$7.1B
Inventory	$5.0B 0.0%	$5.0B -2.7%	$5.1B
Prepaid Expenses	$3.5B 98.6%	$1.8B 19.2%	$1.5B
Other Current Assets	$3.5B 98.6%	$1.8B 19.2%	$1.5B
Total Current Assets	$18.8B 9.4%	$17.2B 5.6%	$16.3B
Property,Plant and Equipment	$5.3B 3.9%	$5.1B 4.8%	$4.9B
Goodwill	$6.1B -0.2%	$6.1B -1.0%	$6.1B
Intangible Assets	$4.1B 3.7%	$4.0B -3.5%	$4.1B
Deferred Tax Assets	$2.0B 52.4%	$1.3B 77.8%	$722.0M
Other Noncurrent Assets	$3.0B 0.1%	$3.0B -2.0%	$3.0B
Total Assets	$40.9B 6.6%	$38.4B 3.8%	$36.9B
Liabilities
Accounts Payable	$4.6B 0.8%	$4.5B 1.6%	$4.5B
Accrued Liabilities	$0 -100.0%	$1.2B -8.1%	$1.3B
Deferred Revenue	$5.9B 4.1%	$5.7B 2.3%	$5.5B
Current Portion of Long Term Debt	$689.0M 1200.0%	$53.0M -64.2%	$148.0M
Other Current Liabilities	$2.7B -0.7%	$2.7B -3.7%	$2.8B
Total Current Liabilities	$13.9B 6.8%	$13.0B 0.0%	$13.0B
Long Term Debt	$6.1B 1.1%	$6.0B 0.0%	$6.0B
Deferred Tax Liabilities	$84.0M 1.2%	$83.0M -52.8%	$176.0M
Other Noncurrent Liabilities	$1.4B 13.3%	$1.3B -9.4%	$1.4B
Total Liabilities	$13.9B 6.8%	$13.0B 0.0%	$13.0B
Equity
Common Stock	$0	$0	$0
Additional Paid In Capital	$24.7B -4.5%	$25.9B -4.0%	$27.0B
Retained Earnings	$-3.3B 44.3%	$-5.8B 33.8%	$-8.8B
Accumulated Other Comprehensive Income	$-2.7B 16.1%	$-3.2B -13.1%	$-2.8B
Noncontrolling Interest	$176.0M 10.0%	$160.0M 6.0%	$151.0M
Total Stockholders Equity	$18.8B 11.5%	$16.9B 9.9%	$15.4B
Total Liabilitiesand Equity	$40.9B 6.6%	$38.4B 3.8%	$36.9B

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	$27.7B -0.3%	$27.8B 9.1%	$25.5B
Expenses Research and Development	$600.0M -6.7%	$643.0M -1.2%	$651.0M
Expenses Selling,General and Administrative	$2.4B -2.9%	$2.5B -5.9%	$2.6B
Expenses Depreciation and Amortization	$1.2B 4.6%	$1.1B 4.5%	$1.1B
Expenses Share Based Compensation	$203.0M 0.5%	$202.0M 2.5%	$197.0M
Expenses Restructuring and Asset Impairment	$215.0M -17.3%	$260.0M -16.9%	$313.0M
Other Income Expense Interest Expense	$-222.0M -12.1%	$-198.0M 8.3%	$-216.0M
Other Income Expense Other Income/expense	$-243.0M -171.3%	$341.0M -37.3%	$544.0M
Other Income Expense Income Before Tax	$2.9B -11.9%	$3.3B 23.0%	$2.7B
Income Tax Income Tax Expense	$253.0M -1.6%	$257.0M -62.5%	$685.0M
net Income net Income	$2.6B -13.1%	$3.0B 53.3%	$1.9B
net Income Comprehensive Income	$3.1B 18.5%	$2.6B 23.4%	$2.1B

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	$2.6B -13.1%	$3.0B 53.3%	$1.9B
Operating Activities Depreciation and Amortization	$1.2B 4.6%	$1.1B 4.5%	$1.1B
Operating Activities Stock Based Compensation	$203.0M 0.5%	$202.0M 2.5%	$197.0M
Operating Activities Deferred Income Taxes	$-702.0M -4.6%	$-671.0M -1037.3%	$-59.0M
Operating Activities Changes In Operating Assets and Liabilities	$-495.0M -192.7%	$534.0M -82.7%	$3.1B
Operating Activities net Cash From Operating Activities	$3.8B 14.3%	$3.3B 8.8%	$3.1B
Investing Activities Business Acquisitions	$830.0M	$0 -100.0%	$301.0M
Investing Activities Purchases of Investments	$1.3B -0.4%	$1.3B 4.4%	$1.2B
Investing Activities Other Investing Activities	$137.0M 315.2%	$33.0M -80.0%	$165.0M
Investing Activities net Cash From Investing Activities	$-2.0B -101.2%	$-1.0B -24.4%	$-817.0M
Financing Activities Repayment of Debt	$0 -100.0%	$143.0M -78.0%	$651.0M
Financing Activities Repurchase of Common Stock	$384.0M -20.7%	$484.0M -10.0%	$538.0M
Financing Activities Dividends Paid	$910.0M 8.9%	$836.0M 6.4%	$786.0M
Financing Activities Other Financing Activities	$-188.0M -193.8%	$-64.0M -20.8%	$-53.0M
Financing Activities net Cash From Financing Activities	$-1.5B 2.9%	$-1.5B 24.7%	$-2.0B
Cash Reconciliation Effect of Exchange Rate On Cash	$67.0M 194.4%	$-71.0M -20.3%	$-59.0M
Cash Reconciliation net Change In Cash	$351.0M -51.1%	$718.0M 354.4%	$158.0M
Cash Reconciliation Cash At Beginning of Period	$3.7B 10.4%	$3.4B 27.1%	$2.6B
Cash Reconciliation Cash At End of Period	$3.7B 10.4%	$3.4B 27.1%	$2.6B

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

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Baker Hughes

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