Baker Hughes Company (BKR)
NASDAQ:BKR
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Baker Hughes Company
(NASDAQ:BKR)
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Rating:79Outperform
Price Target:
$74.00
â–²(23.79% Upside)
Action:ReiteratedDate:04/24/26
The score is driven primarily by improved financial performance (profitability, ROE, and strong free cash flow) and a favorable technical uptrend with constructive momentum. Earnings-call commentary supports the outlook via record IET orders/backlog and margin expansion, partially offset by near-term geopolitical disruption risk and OFSE weakness. Valuation is reasonable but not especially cheap, and the dividend yield is modest.
Positive Factors
Strong free cash flow generation
Sustained, material free cash flow (~$2.6B TTM) improves financial flexibility to fund capex, acquisitions, integration costs and return capital while reducing leverage risk. Reliable FCF supports long-term capacity to invest in aftermarket and digital offerings despite industry cycles.
Negative Factors
Cyclical, choppy revenue trend
Revenue remains exposed to oil & gas activity cycles and large project timing; near-flat annual revenue highlights inconsistent topline growth. Persistent cyclicality reduces visibility, complicates capacity planning and can erode margins if activity softens, limiting durable organic growth predictability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Sustained, material free cash flow (~$2.6B TTM) improves financial flexibility to fund capex, acquisitions, integration costs and return capital while reducing leverage risk. Reliable FCF supports long-term capacity to invest in aftermarket and digital offerings despite industry cycles.
Read all positive factors
Baker Hughes Company (BKR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$67.84B
Dividend Yield2.04%
Average Volume (3M)9.71M
Price to Earnings (P/E)16.2
Beta (1Y)0.72
Revenue Growth0.20%
EPS Growth6.96%
CountryUS
Employees57,000
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.58
Shares Outstanding992,068,700
10 Day Avg. Volume7,652,687
30 Day Avg. Volume9,705,566
Financial Highlights & Ratios
PEG Ratio-1.37
Price to Book (P/B)2.39
Price to Sales (P/S)1.62
P/FCF Ratio17.73
Enterprise Value/Market Cap1.01
Enterprise Value/Revenue2.46
Enterprise Value/Gross Profit10.42
Enterprise Value/Ebitda15.05
Forecast
1Y Price Target
$73.38Price Target Upside22.76% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)2.43
Revenue Forecast (FY)$27.47B
Baker Hughes Company Business Overview & Revenue Model
Company Description
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), ...
How the Company Makes Money
Baker Hughes makes money primarily by selling engineered equipment and by providing field and lifecycle services tied to energy and industrial assets. Key revenue streams include: (1) Oilfield Services & Equipment: revenue from delivering services...
Baker Hughes Company Key Performance Indicators (KPIs)
Any
Orders by Segment
Tracks incoming orders across various segments, indicating demand trends and potential future revenue streams.
Tracks incoming orders across various segments, indicating demand trends and potential future revenue streams.
Data provided by:
The Fly
The FlyBaker Hughes Company Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 22, 2026
Earnings Call Sentiment Positive
The call was broadly positive: management reported record IET orders, strong margin expansion (notably in IET), robust backlog/RPO and a strengthened balance sheet while executing portfolio actions and strategic partnerships. However, meaningful near-term headwinds persist—primarily from the Middle East conflict—which pressure OFSE revenue and create macro uncertainty. Management maintained full-year guidance ranges (with expectations slightly below midpoint), provided constructive Q2 segmentation, and emphasized progress on integration and divestitures. Overall, the positives (record orders, margin expansion, balance sheet strength, and portfolio momentum) materially outweigh the near-term geopolitical and transactional headwinds.Positive Updates
Strong Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $1.16 billion, exceeding guidance; adjusted EBITDA increased ~12% year-over-year and adjusted EBITDA margin rose 140 basis points YoY to 17.6%.
Negative Updates
Middle East Conflict Causing Material Disruptions
Ongoing conflict caused shipping/logistics disruptions and tightened global oil and LNG balances; management notes >10% of global oil volumes impacted and ~20% of global LNG capacity offline, creating volatility and supply risk that hit operations and market outlook.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Adjusted EBITDA and Margin Expansion
Adjusted EBITDA of $1.16 billion, exceeding guidance; adjusted EBITDA increased ~12% year-over-year and adjusted EBITDA margin rose 140 basis points YoY to 17.6%.
Read all positive updates
Company Guidance
Management guided Q2 revenue of $6.5 billion and adjusted EBITDA of $1.13 billion (assumes Middle East disruption through end‑June and Strait of Hormuz reopening thereafter), with IET EBITDA expected at about $670 million and OFSE EBITDA about $540 million (OFSE revenue ~ $3.2 billion); for the full year they maintained company revenue and adjusted EBITDA ranges but expect results slightly below the midpoint, reaffirmed at least the $14.5 billion midpoint for full‑year IET orders and the $2.7 billion midpoint for IET EBITDA, and noted OFSE may only reach the low end of its EBITDA range (~$2.325 billion) if the conflict resolves by end‑June; additional metrics cited in the call include Q1 adjusted EBITDA $1.16 billion, Q1 adjusted EPS $0.58 (ex‑items), Q1 free cash flow $210 million, Q1 IET bookings $4.9 billion and RPO $33.1 billion, net debt/adjusted EBITDA 0.32x, cash $14.8 billion, liquidity $17.8 billion, targeted Chart integration cost synergies of $325 million, and expected ~ $3 billion gross proceeds from 2026 portfolio actions.Baker Hughes Company Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.89B | 27.73B | 27.83B | 25.51B | 21.16B | 20.50B |
| Gross Profit | 6.57B | 6.54B | 6.48B | 5.90B | 4.96B | 4.54B |
| EBITDA | 4.55B | 4.29B | 4.60B | 3.96B | 1.33B | 1.83B |
| Net Income | 3.12B | 2.59B | 2.98B | 1.94B | -601.00M | -219.00M |
Balance Sheet | ||||||
| Total Assets | 50.90B | 40.88B | 38.36B | 36.95B | 34.18B | 35.35B |
| Cash, Cash Equivalents and Short-Term Investments | 14.76B | 4.96B | 3.36B | 2.65B | 2.49B | 3.85B |
| Total Debt | 16.16B | 7.14B | 6.02B | 6.02B | 6.66B | 6.73B |
| Total Liabilities | 31.41B | 21.87B | 21.31B | 21.43B | 19.66B | 18.56B |
| Stockholders Equity | 19.31B | 18.83B | 16.89B | 15.37B | 14.39B | 14.83B |
Cash Flow | ||||||
| Free Cash Flow | 2.29B | 2.54B | 2.05B | 1.84B | 1.12B | 1.83B |
| Operating Cash Flow | 3.60B | 3.81B | 3.33B | 3.06B | 1.89B | 2.37B |
| Investing Cash Flow | -696.00M | -2.04B | -1.02B | -817.00M | -1.56B | -463.00M |
| Financing Cash Flow | 8.54B | -1.48B | -1.53B | -2.03B | -1.59B | -2.14B |
Baker Hughes Company Technical Analysis
Neutral
59.78
Price Trends
60.94
Negative
55.31
Positive
50.16
Positive
Market Momentum
0.23
Positive
45.21
Neutral
17.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKR, the sentiment is Neutral. The current price of 59.78 is below the 20-day moving average (MA) of 61.64, below the 50-day MA of 60.94, and above the 200-day MA of 50.16, indicating a neutral trend. The MACD of 0.23 indicates Positive momentum. The RSI at 45.21 is Neutral, neither overbought nor oversold. The STOCH value of 17.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BKR.
Baker Hughes Company Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $33.75B | 10.34 | 11.48% | 4.43% | -3.95% | 2.15% | |
79 Outperform | $67.84B | 16.25 | 16.24% | 2.04% | 0.20% | 6.96% | |
79 Outperform | $30.05B | 19.37 | 29.62% | 0.44% | 9.36% | 19.24% | |
74 Outperform | $82.91B | 25.61 | 13.30% | 2.98% | -0.49% | -22.59% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
62 Neutral | $33.52B | 17.70 | 14.67% | 2.41% | -1.72% | -23.60% | |
59 Neutral | $7.51B | 89.35 | 2.26% | 3.24% | -1.35% | -76.59% |
* Energy Sector Average
BKR
Baker Hughes Company
67.67
32.46
92.21%
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Baker Hughes Company Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Baker Hughes Posts Strong Q1 2026 Results, Grows Backlog
Positive
Apr 23, 2026
Baker Hughes reported strong first-quarter 2026 results on April 23, 2026, posting $8.2 billion in orders, $6.6 billion in revenue, $930 million in attributable net income and adjusted EBITDA of $1.16 billion, with revenue up 2% year over year des...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Baker Hughes Prices Multi-Currency Notes for Chart Acquisition
Positive
Mar 12, 2026
On March 5, 2026, Baker Hughes’ main operating subsidiary Baker Hughes Holdings LLC and its co‑obligor priced a $6.5 billion U.S. dollar senior unsecured notes offering and a €3 billion euro senior unsecured notes offering, acros...
Financial DisclosuresM&A TransactionsRegulatory Filings and Compliance
Baker Hughes Advances Chart Industries Acquisition With New Filings
Positive
Mar 2, 2026
Baker Hughes Company, the energy technology and industrial services firm, is moving forward with its planned acquisition of Chart Industries, Inc., a Delaware-based maker of highly customized engineered products and systems, under a merger agreeme...
Business Operations and StrategyFinancial Disclosures
Baker Hughes Delivers Record 2025 Profitability and Orders
Positive
Jan 26, 2026
On January 25, 2026, Baker Hughes reported its fourth-quarter and full-year 2025 results, highlighting flat quarterly revenue of $7.4 billion and full-year revenue of $27.7 billion, but stronger profitability with full-year attributable net income...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.