Baker Hughes Company
- Open
- 64.36
- Day high
- 64.95
- Day low
- 63.87
- Prev close
- 64.63
- Volume
- 323K
- Mkt cap
- $63.5B
- P/E (TTM)
- 20.4
- EPS (TTM)
- $3.14
- P/B
- 3.2
- P/S
- 2.3
- Yield
- 1.44%
- Per share
- $0.92
- ▼Insiders net selling -$27.5M over the last 3 months (0 open-market buys, 5 sales)
- 🏛Institutions accumulating (13F)
Baker Hughes Company (BKR) is a Energy company listed on NASDAQ. The stock is up 43% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 5 sales (SEC Form 4). Drillr has 2 published research articles covering BKR.
Baker Hughes Company (BKR) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BKR earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 27, 2026 | $0.52 | $0.64 | +24.3% | $6.7B | +2.8% |
| Apr 24, 2026 | $0.49 | $0.58 | +17.6% | $6.6B | +3.9% |
| Jan 25, 2026 | $0.67 | $0.78 | +16.8% | $7.4B | +4.4% |
| Oct 23, 2025 | $0.62 | $0.68 | +10.4% | $7.0B | +2.6% |
| Jul 22, 2025 | $0.56 | $0.63 | +13.5% | $6.9B | +4.2% |
| Apr 22, 2025 | $0.47 | $0.51 | +8.1% | $6.4B | -1.1% |
| Jan 30, 2025 | $0.62 | $0.70 | +12.2% | $7.4B | +4.2% |
| Oct 22, 2024 | $0.61 | $0.67 | +9.8% | $6.9B | -4.2% |
| Jul 25, 2024 | $0.49 | $0.57 | +16.3% | $7.1B | +4.9% |
| Jan 23, 2024 | $0.48 | $0.51 | +5.2% | $6.8B | -1.2% |
| Oct 25, 2023 | $0.40 | $0.42 | +4.5% | $6.6B | +2.0% |
| Jul 19, 2023 | $0.33 | $0.39 | +19.3% | $6.3B | +1.5% |
BKR insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | BORRAS MARIA Cofficer: Chief Growth & Experience Ofcr | Sell | 72,000 | $55.05 |
| Jun 24, 2026 | Simonelli Lorenzodirector, officer: Chairman, President and CEO | Sell | 181,411 | $58.43 |
| Jun 24, 2026 | Simonelli Lorenzodirector, officer: Chairman, President and CEO | Option | 99,911 | $35.55 |
| Jun 16, 2026 | Simonelli Lorenzodirector, officer: Chairman, President and CEO | Sell | 181,411 | $63.36 |
| Jun 16, 2026 | Moghal Ahmed Farhanofficer: EVP, Chief Financial Officer | Sell | 20,000 | $62.38 |
| Jun 16, 2026 | Simonelli Lorenzodirector, officer: Chairman, President and CEO | Option | 99,911 | $35.55 |
| Jun 16, 2026 | Moghal Ahmed Farhanofficer: EVP, Chief Financial Officer | Sell | 3,392 | $62.38 |
| Jun 3, 2026 | Charlton Rebecca Lofficer: SVP, Controller & CAO | Tax | 4,585 | $62.97 |
| Jun 3, 2026 | Charlton Rebecca Lofficer: SVP, Controller & CAO | Sell | 5,088 | $64.22 |
| Jun 3, 2026 | Charlton Rebecca Lofficer: SVP, Controller & CAO | Option | 11,651 | — |
| May 21, 2026 | BRENNEMAN GREGORY Ddirector | Grant | 2,749 | — |
| May 21, 2026 | Al Gudaimi Abdulaziz Mdirector | Grant | 2,749 | — |
| May 21, 2026 | Apostolides James Eofficer: Chief Infra & Performance Ofcr | Sell | 12,261 | $66.42 |
| May 21, 2026 | Edwards Shirley Anndirector | Grant | 2,749 | — |
| May 21, 2026 | RICE JOHN Gdirector | Grant | 2,749 | — |
Source: BKR SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full BKR insider & 13F page →BKR research & analysis
[BKR] Baker Hughes Thesis 2026: LNG Capex Super-Cycle Drives IET Energy Technology Boom
Baker Hughes Company (NASDAQ: BKR) FY2025 revenue ~$28-29B (+5-8%) with adj. EPS ~$2.50-3.00 reflecting continued post-2024 LNG capex super-cycle catalyst (~$200B+ global LNG project FIDs 2024-2026 driving IET turbine + compressor demand) + selected Industrial & Energy Technology +10-15% growth ($11B segment) + selected Oilfield Services & Equipment oil cycle stability ($17B segment) + selected ~10-year continuous dividend track post-2017 merger under continued CEO Lorenzo Simonelli. Leading global energy technology firm focused on oilfield services + oilfield equipment + industrial energy technology including selected LNG turbines + compressors. Founded 1907 as Hughes Tool Company by Howard Hughes Sr. (~118-year heritage; selected initial focus on selected drilling tools + drill bits); selected various rebrands through history including 1987 Baker International + Hughes Tool Co. merger forming Baker Hughes; current Baker Hughes structure formed July 2017 via merger of GE Oil & Gas + Baker Hughes (selected post-2017 BHGE then rebranded Baker Hughes 2019 post-GE divestiture). Headquartered in Houston Texas; ~58,000+ employees globally with ~$28-29B revenue. Two reporting segments: Oilfield Services & Equipment (OFSE) ~60% revenue ($17B — wireline services ~$3B+ + drilling services + drilling fluids ~$5B+ + production chemicals + completion fluids ~$3B+ + upstream oilfield services for major oil + gas operators; ~50%+ international revenue), Industrial & Energy Technology (IET) ~40% ($11B — gas turbines + LNG compressors + industrial energy technology; ~30-40% global LNG turbine + compressor market share via post-2017 GE Oil & Gas legacy Frame 7 + Frame 9 turbines; ~50%+ aftermarket service recurring revenue). LNG capex super-cycle: post-2024 ~$200B+ global LNG project FIDs 2024-2026 includes QatarEnergy North Field East + South ~$30B + US LNG export projects (Plaquemines + Rio Grande + Cameron LNG expansion + Texas LNG) + Mozambique TotalEnergies LNG + Australian LNG (Pluto Train 2 + Scarborough) + Eastern Mediterranean LNG; major LNG operator customers QatarEnergy + ExxonMobil + Chevron + TotalEnergies + Shell + Sempra + Cheniere; ~$2-3B+ FY2025 IET LNG bookings + multi-year backlog supporting 2026-2030 revenue visibility; FY2026 catalyst: continued IET bookings + ~$15B+ IET backlog. CEO Lorenzo Simonelli since July 2017 (~8-year tenure post-merger; ex-GE Oil & Gas CEO 2013-2017 + ex-various GE roles 1994-2013 + ~25-year GE career; Italian; ex-GE Healthcare + ex-GE Transportation). Capital return: ~$0.80-0.85 annual dividend FY2025 (~$0.20-0.21/quarter; ~10+ consecutive year continuous track post-2017 merger); $1-2B buyback program FY2025 (aggressive post-2024 capital return on $4-5B+ FCF generation); investment-grade Baa1/BBB+ credit ratings; FCF $2.5-3.5B. FY2026 thesis: IET LNG super-cycle continuation + OFSE oil cycle stability + ~11-year dividend track + capital return acceleration. Risks: LNG capex deceleration, major oil price decline, Siemens Energy + MAN competitive substitution, major LNG operator project delays.
Hormuz Blockade Oil Crunch: XOM, OXY Win Big While UPS, RCL Face Fuel Cost Pain
Strait of Hormuz blockade as of April 9, 2026, tightens oil supply, favoring XOM, OXY, HAL, and BKR with production/margin tailwinds while pressuring UPS and RCL via fuel costs. OXY tops conviction on valuation and leverage.
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Baker Hughes Company company profile
Overview
Baker Hughes Company (NYSE:BKR) is a Houston-based energy technology company that traces its roots back to 1987 when it went public, though the company's heritage extends much further through various predecessor entities. Originally known as Baker Hughes, a GE company following General Electric's acquisition and subsequent merger of its oil and gas business with Baker Hughes in 2017, the company regained its independence and current name in October 2019 when GE spun off its remaining stake. Today, Baker Hughes operates as one of the world's largest oilfield services companies and energy technology providers, serving customers across the global energy value chain from upstream oil and gas exploration to downstream processing and emerging energy technologies.
Business
Baker Hughes operates in the energy technology and oilfield services industry, providing equipment, services, and digital solutions that enable energy companies to find, extract, transport, and process oil, natural gas, and other energy sources. The company has strategically positioned itself across the entire energy ecosystem, from traditional hydrocarbon extraction to emerging clean energy technologies. The company operates through two primary business segments. Oilfield Services and Equipment (OFSE) generates approximately 54% of total revenue and provides the tools and services needed to drill, complete, and produce oil and gas wells. This includes drilling fluids that lubricate drill bits and carry rock cuttings to the surface, wireline services that lower instruments into wells to measure reservoir properties, completion tools that prepare wells for production, artificial lift systems that help bring oil and gas to the surface, and subsea equipment that enables offshore production in deep waters. Industrial and Energy Technology (IET) accounts for roughly 46% of revenue and focuses on larger-scale industrial equipment and systems. This segment manufactures gas turbines that generate electricity or compress natural gas, compressors that move gas through pipelines, pumps and valves for processing facilities, and complete liquefied natural gas (LNG) plants that cool natural gas to liquid form for shipping. IET also includes the company's growing portfolio of new energy technologies such as carbon capture systems, hydrogen production equipment, and geothermal energy solutions. The company's digital solutions capabilities are integrated across both segments, providing sensor-based monitoring systems that track equipment performance, predictive analytics that forecast maintenance needs, and control systems that optimize facility operations. These digital offerings represent the company's evolution toward becoming a technology-enabled service provider rather than just an equipment manufacturer.
Revenue model
Baker Hughes generates revenue through multiple business models depending on the segment and customer relationship. The company earns money through direct equipment sales, long-term service contracts, project-based engineering and construction work, and recurring aftermarket services. In the OFSE segment, the company typically operates on a service-based model where it provides drilling, completion, and production services to oil and gas operators on either a day-rate basis or per-job contracts. For equipment sales like subsea systems, Baker Hughes often engages in large, multi-year contracts worth hundreds of millions of dollars. The company also generates recurring revenue through maintenance, repair, and operations services for installed equipment, creating a "razor-and-blade" model where initial equipment sales lead to decades of service revenue. The IET segment primarily operates through large capital equipment sales, particularly for gas turbines, compressors, and LNG facilities that can range from tens of millions to over a billion dollars per project. These sales are often accompanied by long-term service agreements that can generate 1-2 times the original equipment value over the asset's 20-30 year lifespan. The company's customers include major oil companies like ExxonMobil and Saudi Aramco, independent oil and gas producers, national oil companies, LNG developers, and industrial manufacturers. Several factors influence Baker Hughes' profitability. Revenue growth is driven by global energy demand, oil and gas prices, capital spending by energy companies, and the pace of energy transition investments. The company benefits from increasing natural gas demand, LNG project development, and growing interest in carbon capture and hydrogen technologies. Margin expansion comes from operational efficiency improvements, supply chain optimization, higher-margin service mix, and economies of scale in manufacturing. However, margins face pressure from commodity price volatility, supply chain inflation, competitive pricing, and the cyclical nature of energy capital spending. The company's international exposure also creates sensitivity to foreign exchange fluctuations and geopolitical risks.
Competitive moat
Baker Hughes possesses a moderate but meaningful competitive moat built primarily on technological expertise, scale advantages, and customer relationships, though the strength varies significantly across its business segments. The company's strongest moat lies in its specialized technical capabilities for complex energy projects, particularly in deepwater offshore drilling, LNG plant construction, and advanced gas turbine technology. These areas require decades of engineering experience, extensive R&D investment, and proven track records that create high barriers to entry for new competitors. The company benefits from significant scale advantages in manufacturing and global service networks. Its worldwide presence with local service capabilities in major energy markets creates switching costs for customers who value reliable, nearby support for critical operations. The installed base of Baker Hughes equipment generates recurring service revenue and provides valuable operational data that enhances the company's digital solutions offerings. However, Baker Hughes' moat faces several challenges. The oilfield services industry remains highly competitive with numerous capable competitors like Schlumberger, Halliburton, and regional players who can often match pricing and service quality. Many of the company's products and services, particularly in conventional drilling and completion activities, have become increasingly commoditized over time. The cyclical nature of energy markets also limits pricing power during downturns. The company's moat is strongest in specialized, high-technology applications like subsea systems, LNG equipment, and advanced turbomachinery where technical expertise and proven performance records matter more than price. The emerging new energy segment offers potential for developing stronger competitive positions, but this market is still nascent and faces competition from both traditional energy companies and new technology players. Overall, Baker Hughes maintains a defensible but not dominant market position that requires continuous innovation and operational excellence to sustain.
Risks & safety
Baker Hughes demonstrates a solid financial position with adequate margin of safety, though not exceptional. The company maintains reasonable liquidity and manageable debt levels while generating consistent cash flows. • **Liquidity and Solvency**: Strong current ratio of 1.34x and $3.4 billion in cash provides adequate short-term liquidity. Debt-to-equity ratio of 0.36x represents manageable leverage levels. Free cash flow of $2.1 billion in 2024 demonstrates solid cash generation capability. • **Valuation Metrics**: Trading at 13.8x forward P/E and 9.5x EV/EBITDA based on 2024 results, representing reasonable but not deeply discounted valuations. Graham number of $33.66 suggests modest undervaluation at recent prices. • **Operational Risks**: Cyclical energy markets create earnings volatility. Exposure to commodity price fluctuations and capital spending cycles. Potential tariff impacts estimated at $100-200 million EBITDA headwind. Geographic diversification provides some risk mitigation. • **Capital Allocation**: Committed to returning 60-80% of free cash flow to shareholders through dividends and buybacks. Dividend recently increased 10%, demonstrating management confidence in cash flow sustainability.
Recent development
Over the past few years, Baker Hughes has undergone significant strategic transformation, evolving from a traditional oilfield services company into a broader energy technology provider. The company restructured its operations into two focused segments - OFSE and IET - while divesting non-core assets and reducing costs by $150 million to improve operational efficiency. A key strategic pivot has been the company's aggressive expansion into new energy technologies and markets. Baker Hughes has significantly increased its investments in carbon capture, utilization and storage (CCUS), hydrogen production, and geothermal energy solutions. New energy orders have grown from minimal levels to over $400 million annually, with management targeting $1.4-1.6 billion in new energy orders for 2025. The company is also expanding into adjacent markets like data centers and distributed power generation, leveraging its gas turbine technology for AI-related energy infrastructure. The company has made substantial progress on margin improvement initiatives, targeting 20% EBITDA margins for both business segments. Through operational excellence programs, supply chain optimization, and lean manufacturing strategies, OFSE has achieved margins approaching 20% while IET has expanded margins from the mid-teens toward an 18% target for 2025. These improvements reflect structural changes rather than just cyclical benefits. Baker Hughes has also strengthened its position in key growth markets, particularly LNG and gas infrastructure. The company has secured major orders for LNG projects globally and expanded its presence in markets like Saudi Arabia where gas infrastructure development is accelerating. Management expects 100 MTPA of LNG project final investment decisions between 2024-2026, representing significant growth opportunities for the company's specialized equipment and long-term service offerings.
BKR company profile · for informational purposes only — not investment advice.
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