Baker Hughes (BKR) Financials

$43.75 +0.24 (+0.55%)

Closing price 04:00 PM Eastern

Extended Trading

$43.92 +0.16 (+0.38%)

As of 05:12 PM Eastern

Annual Income Statements for Baker Hughes

This table shows Baker Hughes' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	0.00	0.00	-103	195	128	-9,940	-219	-601	1,943	2,979
Consolidated Net Income / (Loss)	-631	185	-391	283	271	-15,761	-330	-578	1,970	3,008
Net Income / (Loss) Continuing Operations	-631	185	-391	283	271	-15,761	-330	-578	1,970	3,008
Total Pre-Tax Income	-158	358	-335	680	753	-15,202	428	22	2,655	3,265
Total Operating Income	-138	457	-284	701	1,074	-15,978	1,310	1,185	2,317	3,081
Total Gross Profit	4,495	2,932	3,036	3,986	4,432	3,199	4,049	4,400	5,251	5,840
Total Revenue	16,688	13,082	17,179	22,877	23,838	20,705	20,502	21,156	25,506	27,829
Total Cost of Revenue	12,193	10,150	14,143	18,891	19,406	17,506	16,453	16,756	20,255	21,989
Operating Cost of Revenue	12,193	10,150	14,143	18,891	19,406	17,506	16,453	16,756	20,255	21,989
Total Operating Expenses	4,633	2,475	3,320	3,285	3,358	19,043	2,739	3,215	2,934	2,759
Selling, General & Admin Expense	2,115	1,926	2,535	2,699	2,832	2,404	2,470	2,510	2,611	2,458
Impairment Charge	2,080	-	-	0.00	342	14,773	269	705	323	301
Total Other Income / (Expense), net	-20	-99	-51	-21	-321	776	-882	-1,163	338	184
Interest Expense	120	102	131	223	237	264	299	252	216	198
Other Income / (Expense), net	100	3.00	80	202	-84	1,040	-583	-911	554	382
Income Tax Expense	473	173	45	258	482	559	758	600	685	257
Net Income / (Loss) Attributable to Noncontrolling Interest	-25	-69	-330	88	143	-5,821	-111	23	27	29
Basic Earnings per Share	$0.00	$0.00	($0.24)	$0.46	$0.23	$0.00	($0.27)	($0.61)	$1.93	$3.00
Weighted Average Basic Shares Outstanding	-	-	1.47B	427M	1.03B	1.04B	2.05B	1.01B	1.00B	990.11M
Diluted Earnings per Share	$0.00	$0.00	($0.24)	$0.45	$0.23	($14.73)	($0.27)	($0.61)	$1.91	$2.98
Weighted Average Diluted Shares Outstanding	-	-	1.47B	427M	1.03B	1.04B	2.05B	1.01B	1.00B	990.11M
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.47B	427M	1.03B	1.04B	2.05B	1.01B	1.00B	990.11M
Cash Dividends to Common per Share	$0.00	-	-	$0.00	$0.72	$0.00	$0.72	$0.73	$0.78	$0.84

This table shows Baker Hughes' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-17	183	576	410	518	439	455	579	766	1,179	402
Consolidated Net Income / (Loss)	-9.00	188	581	414	524	451	463	581	774	1,190	409
Net Income / (Loss) Continuing Operations	-9.00	188	581	414	524	451	463	581	774	1,190	409
Total Pre-Tax Income	144	346	760	614	759	522	641	824	1,009	791	561
Total Operating Income	269	662	438	514	714	651	653	833	930	665	752
Total Gross Profit	1,124	1,336	1,149	1,311	1,343	1,448	1,278	1,490	1,542	1,530	1,475
Total Revenue	5,369	5,905	5,716	6,315	6,641	6,834	6,418	7,139	6,908	7,364	6,427
Total Cost of Revenue	4,245	4,569	4,567	5,004	5,298	5,386	5,140	5,649	5,366	5,834	4,952
Operating Cost of Revenue	4,245	4,569	4,567	5,004	5,298	5,386	5,140	5,649	5,366	5,834	4,952
Total Operating Expenses	855	674	711	797	629	797	625	657	612	865	723
Selling, General & Admin Expense	620	645	655	695	627	634	618	643	612	585	577
Research & Development Expense	-	-	-	-	-	-	-	-	-	-	146
Total Other Income / (Expense), net	-125	-316	322	100	45	-129	-12	-9.00	79	126	-191
Interest Expense	65	63	64	58	49	45	41	47	55	55	51
Other Income / (Expense), net	-60	-253	386	158	94	-84	29	38	134	181	-140
Income Tax Expense	153	158	179	200	235	71	178	243	235	-399	152
Net Income / (Loss) Attributable to Noncontrolling Interest	8.00	5.00	5.00	4.00	6.00	12	8.00	2.00	8.00	11	7.00
Basic Earnings per Share	($0.02)	$0.25	$0.57	$0.41	$0.51	$0.44	$0.46	$0.58	$0.77	$1.19	$0.41
Weighted Average Basic Shares Outstanding	1.01B	1.01B	1.01B	1.01B	1.01B	1.00B	998.00M	993.42M	989.53M	990.11M	990.75M
Diluted Earnings per Share	($0.02)	$0.25	$0.57	$0.40	$0.51	$0.43	$0.45	$0.58	$0.77	$1.18	$0.40
Weighted Average Diluted Shares Outstanding	1.01B	1.01B	1.01B	1.01B	1.01B	1.00B	998.00M	993.42M	989.53M	990.11M	990.75M
Weighted Average Basic & Diluted Shares Outstanding	1.01B	1.01B	1.01B	1.01B	1.01B	1.00B	998.00M	993.42M	989.53M	990.11M	990.75M
Cash Dividends to Common per Share	$0.18	$0.37	$0.19	$0.19	$0.20	$0.20	$0.21	$0.21	$0.21	$0.21	$0.23

This table details how cash moves in and out of Baker Hughes' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	42	-451	5,997	-3,307	-474	883	-279	-1,365	158	718
Net Cash From Operating Activities	1,277	262	-799	1,762	2,126	1,304	2,374	1,888	3,062	3,332
Net Cash From Continuing Operating Activities	1,277	262	-799	1,762	2,126	1,304	2,374	1,888	3,062	3,332
Net Income / (Loss) Continuing Operations	-631	185	-391	283	271	-15,761	-330	-578	1,970	3,008
Consolidated Net Income / (Loss)	-631	185	-391	283	271	-15,761	-330	-578	1,970	3,008
Depreciation Expense	530	550	1,103	1,486	1,418	1,317	1,105	1,061	1,087	1,136
Non-Cash Adjustments To Reconcile Net Income	2,080	0.00	11	153	245	15,355	1,057	1,089	-399	-88
Changes in Operating Assets and Liabilities, net	-702	-473	-1,522	-160	192	393	542	316	404	-724
Net Cash From Investing Activities	-466	-472	-4,123	-578	-1,045	-618	-463	-1,564	-817	-1,016
Net Cash From Continuing Investing Activities	-466	-472	-4,123	-578	-1,045	-618	-463	-1,564	-817	-1,016
Purchase of Property, Plant & Equipment	-607	-424	-665	-995	-1,240	-974	-856	-989	-1,224	-1,278
Acquisitions	-86	-16	-3,375	-530	-176	-57	-87	-767	-301	0.00
Sale of Property, Plant & Equipment	30	20	172	458	264	187	315	217	208	203
Divestitures	181	0.00	20	453	77	187	70	0.00	293	0.00
Sale and/or Maturity of Investments	-	-	-	-	-	-	147	26	372	92
Other Investing Activities, net	16	-52	-275	36	30	39	-52	-51	-165	-33
Net Cash From Financing Activities	-515	-102	10,919	-4,363	-1,534	225	-2,143	-1,592	-2,028	-1,527
Net Cash From Continuing Financing Activities	-515	-102	10,919	-4,363	-1,534	225	-2,143	-1,592	-2,028	-1,527
Repayment of Debt	193	-293	-1,024	-1,067	-1,064	469	-2,210	-38	-704	-207
Repurchase of Common Equity	0.00	0.00	-477	-2,486	-250	0.00	-434	-828	-538	-484
Payment of Dividends	0.00	0.00	-406	-810	-745	-744	-749	-726	-786	-836
Effect of Exchange Rate Changes	-254	-139	-	-128	-21	-28	-47	-97	-59	-71
Cash Interest Paid	52	55	109	-	-	-	-	291	309	298
Cash Income Taxes Paid	264	317	230	-	-	-	-	498	595	1,040

This table details how cash moves in and out of Baker Hughes' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-77	-363	-73	390	396	-555	71	-433	380	700	-87
Net Cash From Operating Activities	597	898	461	859	810	932	784	348	1,010	1,190	709
Net Cash From Continuing Operating Activities	597	898	461	859	810	932	784	348	1,010	1,190	709
Net Income / (Loss) Continuing Operations	-9.00	188	581	414	524	451	463	581	773	1,191	409
Consolidated Net Income / (Loss)	-9.00	188	581	414	524	451	463	581	773	1,191	409
Depreciation Expense	255	255	269	276	268	274	283	283	278	292	285
Non-Cash Adjustments To Reconcile Net Income	273	145	-325	-84	-39	49	-1.00	31	-47	-71	190
Changes in Operating Assets and Liabilities, net	78	310	-64	253	57	158	39	-547	6.00	-222	-175
Net Cash From Investing Activities	-150	-984	-229	-185	-89	-314	-269	-261	-269	-217	-310
Net Cash From Continuing Investing Activities	-150	-984	-229	-185	-89	-314	-269	-261	-269	-217	-310
Purchase of Property, Plant & Equipment	-226	-269	-310	-277	-281	-356	-333	-292	-300	-353	-300
Acquisitions	-	-681	0.00	-282	-19	-	0.00	-	-	-	0.00
Sale of Property, Plant & Equipment	46	28	46	41	63	58	51	50	44	58	45
Divestitures	-	-	0.00	293	-	-	0.00	-	-	-	0.00
Sale and/or Maturity of Investments	-	-	0.00	-	-	-	0.00	-	-	71	0.00
Other Investing Activities, net	4.00	-62	35	40	-224	-16	13	-19	-34	7.00	-55
Net Cash From Financing Activities	-429	-295	-250	-300	-311	-1,167	-427	-502	-364	-234	-502
Net Cash From Continuing Financing Activities	-429	-295	-250	-300	-311	-1,167	-427	-502	-364	-234	-502
Repayment of Debt	18	-4.00	-58	-9.00	11	-648	-59	-127	-3.00	-18	-85
Repurchase of Common Equity	-265	-101	0.00	-99	-120	-319	-158	-166	-152	-8.00	-188
Payment of Dividends	-182	-190	-192	-192	-202	-200	-210	-209	-209	-208	-229
Effect of Exchange Rate Changes	-95	18	-55	16	-14	-6.00	-17	-18	3.00	-39	16
Cash Interest Paid	50	101	50	107	48	104	48	102	49	99	50
Cash Income Taxes Paid	113	103	163	160	140	132	108	228	397	307	207

This table presents Baker Hughes' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	21,721	56,500	52,439	53,369	38,007	35,308	34,181	36,945	38,363
Total Current Assets	7,401	18,424	14,971	15,222	16,455	15,065	14,592	16,301	17,211
Cash & Equivalents	981	-	-	-	4,132	-	2,488	2,646	3,364
Accounts Receivable	2,563	6,015	5,969	6,416	5,622	5,651	5,958	7,075	7,122
Inventories, net	3,224	4,507	4,620	4,608	4,421	3,979	4,587	5,094	4,954
Other Current Assets	633	872	659	949	2,280	1,582	1,559	1,486	1,771
Plant, Property, & Equipment, net	2,325	6,959	6,228	6,240	5,358	4,877	4,538	4,893	5,127
Total Noncurrent Assets	11,995	31,117	31,240	31,907	16,194	15,366	15,051	15,751	16,025
Goodwill	6,680	19,927	20,717	20,690	5,977	5,959	5,930	6,137	6,078
Intangible Assets	2,449	6,358	5,719	5,381	4,397	4,131	4,180	4,093	3,951
Noncurrent Deferred & Refundable Income Taxes	326	715	1,072	954	953	735	657	722	1,284
Other Noncurrent Operating Assets	2,540	4,117	3,732	4,882	4,867	4,541	4,284	4,799	4,712
Total Liabilities & Shareholders' Equity	21,721	56,500	52,439	53,369	38,007	35,308	34,181	36,945	38,363
Total Liabilities	6,866	18,090	17,426	18,870	19,765	18,562	19,656	21,426	21,308
Total Current Liabilities	4,934	9,227	9,020	10,014	10,227	9,128	11,075	12,991	12,991
Short-Term Debt	239	2,037	942	321	889	40	677	148	53
Accounts Payable	1,898	3,377	4,025	4,268	3,532	3,745	4,298	4,471	4,542
Current Deferred Revenue	1,596	1,775	1,765	2,870	3,454	3,232	3,822	5,542	5,672
Other Current Liabilities	1,201	2,038	2,288	2,555	2,352	2,111	2,278	2,830	2,724
Total Noncurrent Liabilities	1,932	8,863	8,406	8,856	9,538	9,434	8,581	8,435	8,317
Long-Term Debt	38	6,312	6,285	6,301	6,744	6,687	5,980	5,872	5,970
Noncurrent Deferred & Payable Income Tax Liabilities	880	490	143	51	186	127	229	176	83
Noncurrent Employee Benefit Liabilities	519	1,172	1,018	1,079	1,217	1,110	960	978	988
Other Noncurrent Operating Liabilities	495	889	960	1,425	1,391	1,510	1,412	1,409	1,276
Total Equity & Noncontrolling Interests	14,855	38,410	35,013	34,499	18,242	16,746	14,525	15,519	17,055
Total Preferred & Common Equity	14,688	14,277	17,465	21,929	12,893	14,830	14,394	15,368	16,895
Total Common Equity	14,688	14,277	17,465	21,929	12,893	14,830	14,394	15,368	16,895
Common Stock	0.00	15,083	18,659	23,565	24,613	27,375	28,126	26,983	25,896
Retained Earnings	0.00	-103	25	0.00	-9,942	-10,160	-10,761	-8,819	-5,840
Accumulated Other Comprehensive Income / (Loss)	-1,894	-703	-1,219	-1,636	-1,778	-2,385	-2,971	-2,796	-3,161
Noncontrolling Interest	167	24,133	17,548	12,570	5,349	1,916	131	151	160

This table presents Baker Hughes' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Total Assets	33,165	34,181	35,042	36,093	36,550	36,945	37,141	36,656	37,530	38,363	38,110
Total Current Assets	14,335	14,592	15,386	15,806	16,161	16,301	16,420	15,930	16,568	17,211	16,841
Cash & Equivalents	2,851	2,488	2,415	2,805	3,201	2,646	2,717	2,284	2,664	3,364	3,277
Accounts Receivable	5,583	5,958	6,291	6,418	6,505	7,075	6,873	7,051	6,920	7,122	6,710
Inventories, net	4,111	4,587	4,786	4,957	4,964	5,094	5,339	5,126	5,254	4,954	5,161
Other Current Assets	1,790	1,559	1,894	1,626	1,491	1,486	1,491	1,469	1,730	1,771	1,693
Plant, Property, & Equipment, net	4,381	4,538	4,513	4,723	4,768	4,893	4,931	4,951	5,150	5,127	5,168
Total Noncurrent Assets	14,449	15,051	15,143	15,564	15,621	15,751	15,790	15,775	15,812	16,025	16,101
Goodwill	5,435	5,930	5,916	6,074	6,048	6,137	6,114	6,105	6,167	6,078	6,126
Intangible Assets	3,980	4,180	4,123	4,124	4,104	4,093	4,055	4,019	3,995	3,951	3,927
Noncurrent Deferred & Refundable Income Taxes	701	657	663	670	687	722	730	676	649	1,284	1,363
Other Noncurrent Operating Assets	4,333	4,284	4,441	4,696	4,782	4,799	4,891	4,975	5,001	4,712	4,685
Total Liabilities & Shareholders' Equity	33,165	34,181	35,042	36,093	36,550	36,945	37,141	36,656	37,530	38,363	38,110
Total Liabilities	18,798	19,656	20,193	20,831	21,155	21,426	21,591	20,935	21,187	21,308	20,904
Total Current Liabilities	9,465	11,075	11,618	12,311	12,681	12,991	13,179	12,586	12,790	12,991	12,594
Short-Term Debt	43	677	684	797	802	148	147	34	52	53	55
Accounts Payable	3,800	4,298	4,263	4,154	4,123	4,471	4,595	4,649	4,431	4,542	4,465
Current Deferred Revenue	3,262	3,822	4,434	5,101	5,187	5,542	5,711	5,506	5,685	5,672	5,589
Other Current Liabilities	2,360	2,278	2,237	2,259	2,569	2,830	2,726	2,397	2,622	2,724	2,485
Total Noncurrent Liabilities	9,333	8,581	8,575	8,520	8,474	8,435	8,412	8,349	8,397	8,317	8,310
Long-Term Debt	6,612	5,980	5,975	5,847	5,857	5,872	5,859	5,861	5,984	5,970	5,969
Noncurrent Deferred & Payable Income Tax Liabilities	194	229	246	283	280	176	149	156	154	83	93
Noncurrent Employee Benefit Liabilities	1,020	960	932	968	952	978	984	984	991	988	985
Other Noncurrent Operating Liabilities	1,507	1,412	1,422	1,422	1,385	1,409	1,420	1,348	1,268	1,276	1,263
Total Equity & Noncontrolling Interests	14,367	14,525	14,849	15,262	15,395	15,519	15,550	15,721	16,343	17,055	17,206
Total Preferred & Common Equity	14,144	14,394	14,714	15,125	15,250	15,368	15,391	15,574	16,189	16,895	17,042
Total Common Equity	14,144	14,394	14,714	15,125	15,250	15,368	15,391	15,574	16,189	16,895	17,042
Common Stock	28,223	28,126	27,925	27,696	27,415	26,983	26,610	26,340	26,045	25,896	25,450
Retained Earnings	-10,943	-10,761	-10,185	-9,776	-9,258	-8,819	-8,364	-7,785	-7,019	-5,840	-5,438
Accumulated Other Comprehensive Income / (Loss)	-3,136	-2,971	-3,026	-2,795	-2,907	-2,796	-2,855	-2,981	-2,837	-3,161	-2,970
Noncontrolling Interest	223	131	135	137	145	151	159	147	154	160	164

This table displays calculated financial ratios and metrics derived from Baker Hughes' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	-21.61%	31.32%	33.17%	4.20%	-13.14%	-0.98%	3.19%	20.56%	9.11%
EBITDA Growth	0.00%	105.28%	-10.99%	165.74%	0.80%	-665.66%	113.45%	-27.13%	196.48%	16.20%
EBIT Growth	0.00%	1,310.53%	-144.35%	542.65%	9.63%	-1,608.89%	104.87%	-62.31%	947.81%	20.62%
NOPAT Growth	0.00%	344.47%	-184.18%	318.83%	-11.15%	-2,993.62%	90.97%	-2,982.35%	105.52%	65.10%
Net Income Growth	0.00%	129.32%	-311.35%	172.38%	-4.24%	-5,915.87%	97.91%	-75.15%	440.83%	52.69%
EPS Growth	0.00%	0.00%	0.00%	287.50%	-48.89%	-6,504.35%	98.17%	-125.93%	413.11%	56.02%
Operating Cash Flow Growth	0.00%	-79.48%	-404.96%	320.53%	20.66%	-38.66%	82.06%	-20.47%	62.18%	8.82%
Free Cash Flow Firm Growth	0.00%	0.00%	-85.25%	106.39%	-37.37%	379.33%	-77.49%	-2,814.15%	105.03%	32.71%
Invested Capital Growth	0.00%	0.00%	180.75%	-3.05%	-1.67%	-42.59%	-9.76%	-4.72%	1.06%	4.35%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	2.08%	0.35%	-3.95%	-0.05%	2.03%	3.78%	1.94%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	32.94%	-6.34%	7.94%	-31.49%	-22.65%	4.68%	6.90%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	225.99%	-14.14%	7.55%	-52.64%	-57.65%	5.82%	8.76%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	213.73%	-34.07%	-0.93%	-586.05%	-2,309.02%	7.25%	22.20%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	385.86%	-43.42%	5.16%	-215.79%	-34.42%	15.41%	32.57%
EPS Q/Q Growth	0.00%	0.00%	0.00%	104.55%	-48.89%	8.68%	-133.75%	-35.56%	10.40%	33.63%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-524.22%	283.88%	14.42%	-42.91%	20.08%	7.03%	1.12%	8.39%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-1.03%	-25.95%	-8.08%	-7,456.05%	65.06%	38.11%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-1.47%	-1.97%	4.15%	-1.28%	2.88%	0.21%	-0.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.94%	22.41%	17.67%	17.42%	18.59%	15.45%	19.75%	20.80%	20.59%	20.99%
EBITDA Margin	2.95%	7.72%	5.23%	10.44%	10.10%	-65.79%	8.94%	6.31%	15.52%	16.53%
Operating Margin	-0.83%	3.49%	-1.65%	3.06%	4.51%	-77.17%	6.39%	5.60%	9.08%	11.07%
EBIT Margin	-0.23%	3.52%	-1.19%	3.95%	4.15%	-72.15%	3.55%	1.30%	11.26%	12.44%
Profit (Net Income) Margin	-3.78%	1.41%	-2.28%	1.24%	1.14%	-76.12%	-1.61%	-2.73%	7.72%	10.81%
Tax Burden Percent	399.37%	51.68%	116.72%	41.62%	35.99%	103.68%	-77.10%	-2,627.27%	74.20%	92.13%
Interest Burden Percent	415.79%	77.83%	164.22%	75.30%	76.06%	101.77%	58.87%	8.03%	92.48%	94.28%
Effective Tax Rate	0.00%	48.32%	0.00%	37.94%	64.01%	0.00%	177.10%	2,727.27%	25.80%	7.87%
Return on Invested Capital (ROIC)	0.00%	3.34%	-0.74%	1.11%	1.01%	-37.52%	-4.88%	-162.52%	9.15%	14.70%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	17.87%	-63.24%	-5.19%	-2.35%	-170.67%	16.45%	705.16%	15.80%	20.32%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-0.85%	-0.73%	-0.34%	-0.23%	-22.24%	3.00%	158.82%	3.97%	3.76%
Return on Equity (ROE)	0.00%	2.49%	-1.47%	0.77%	0.78%	-59.77%	-1.89%	-3.70%	13.11%	18.47%
Cash Return on Invested Capital (CROIC)	0.00%	-196.66%	-95.68%	4.21%	2.70%	16.59%	5.38%	-157.68%	8.09%	10.45%
Operating Return on Assets (OROA)	0.00%	2.12%	-0.52%	1.66%	1.87%	-32.70%	1.98%	0.79%	8.07%	9.20%
Return on Assets (ROA)	0.00%	0.85%	-1.00%	0.52%	0.51%	-34.50%	-0.90%	-1.66%	5.54%	7.99%
Return on Common Equity (ROCE)	0.00%	2.46%	-0.80%	0.33%	0.44%	-39.46%	-1.49%	-3.45%	12.99%	18.29%
Return on Equity Simple (ROE_SIMPLE)	0.00%	1.26%	-2.74%	1.62%	1.24%	-122.24%	-2.23%	-4.02%	12.82%	17.80%
Net Operating Profit after Tax (NOPAT)	-97	236	-199	435	387	-11,185	-1,010	-31,133	1,719	2,838
NOPAT Margin	-0.58%	1.81%	-1.16%	1.90%	1.62%	-54.02%	-4.93%	-147.16%	6.74%	10.20%
Net Nonoperating Expense Percent (NNEP)	0.00%	-14.53%	62.50%	6.30%	3.36%	133.15%	-21.33%	-867.68%	-6.65%	-5.62%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-146.98%	7.98%	12.30%
Cost of Revenue to Revenue	73.06%	77.59%	82.33%	82.58%	81.41%	84.55%	80.25%	79.20%	79.41%	79.01%
SG&A Expenses to Revenue	12.67%	14.72%	14.76%	11.80%	11.88%	11.61%	12.05%	11.86%	10.24%	8.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.76%	18.92%	19.33%	14.36%	14.09%	91.97%	13.36%	15.20%	11.50%	9.91%
Earnings before Interest and Taxes (EBIT)	-38	460	-204	903	990	-14,938	727	274	2,871	3,463
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	492	1,010	899	2,389	2,408	-13,621	1,832	1,335	3,958	4,599
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	2.11	1.15	1.05	1.53	1.59	1.97	2.18	2.40
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	7.84	4.97	6.61	6.53	5.91
Price to Revenue (P/Rev)	0.00	0.00	1.75	0.88	0.97	0.95	1.15	1.34	1.31	1.46
Price to Earnings (P/E)	0.00	0.00	0.00	103.14	180.53	0.00	0.00	0.00	17.26	13.63
Dividend Yield	0.00%	0.00%	67.92%	3.94%	4.00%	3.77%	3.17%	2.60%	2.34%	2.05%
Earnings Yield	0.00%	0.00%	0.00%	0.97%	0.55%	0.00%	0.00%	0.00%	5.80%	7.34%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	1.40	1.07	1.03	1.32	1.44	1.75	1.96	2.20
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	3.23	1.80	1.64	1.38	1.38	1.54	1.45	1.56
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	61.79	17.23	16.22	0.00	15.47	24.45	9.36	9.44
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	45.59	39.45	0.00	38.98	119.11	12.91	12.54
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	94.63	101.03	0.00	0.00	0.00	21.55	15.29
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	23.36	18.37	21.94	11.94	17.29	12.10	13.03
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	24.99	37.86	5.79	25.46	0.00	24.37	21.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.02	0.22	0.21	0.19	0.42	0.40	0.46	0.39	0.35
Long-Term Debt to Equity	0.00	0.00	0.16	0.18	0.18	0.37	0.40	0.41	0.38	0.35
Financial Leverage	0.00	-0.05	0.01	0.07	0.10	0.13	0.18	0.23	0.25	0.19
Leverage Ratio	0.00	1.46	1.47	1.48	1.52	1.73	2.10	2.22	2.37	2.31
Compound Leverage Factor	0.00	1.14	2.41	1.12	1.16	1.76	1.23	0.18	2.19	2.18
Debt to Total Capital	0.00%	1.83%	17.86%	17.11%	16.10%	29.50%	28.66%	31.43%	27.95%	26.10%
Short-Term Debt to Total Capital	0.00%	1.58%	4.36%	2.23%	0.78%	3.44%	0.17%	3.20%	0.69%	0.23%
Long-Term Debt to Total Capital	0.00%	0.25%	13.50%	14.88%	15.32%	26.06%	28.49%	28.23%	27.26%	25.87%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	1.10%	51.61%	41.54%	30.57%	20.67%	8.16%	0.62%	0.70%	0.69%
Common Equity to Total Capital	0.00%	97.07%	30.53%	41.35%	53.33%	49.83%	63.18%	67.95%	71.35%	73.21%
Debt to EBITDA	0.00	0.27	9.29	3.03	2.75	-0.56	3.67	4.99	1.52	1.31
Net Debt to EBITDA	0.00	-0.70	1.47	1.47	1.40	-0.26	1.57	3.12	0.85	0.58
Long-Term Debt to EBITDA	0.00	0.04	7.02	2.63	2.62	-0.50	3.65	4.48	1.48	1.30
Debt to NOPAT	0.00	1.17	-42.00	16.61	17.13	-0.68	-6.66	-0.21	3.50	2.12
Net Debt to NOPAT	0.00	-2.98	-6.63	8.05	8.73	-0.31	-2.85	-0.13	1.96	0.94
Long-Term Debt to NOPAT	0.00	0.16	-31.75	14.45	16.30	-0.60	-6.62	-0.19	3.42	2.10
Altman Z-Score	0.00	0.00	1.48	1.32	1.36	-0.32	1.21	1.19	1.66	2.09
Noncontrolling Interest Sharing Ratio	0.00%	1.12%	45.62%	56.77%	43.33%	33.98%	20.76%	6.55%	0.94%	0.95%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.50	2.00	1.66	1.52	1.61	1.65	1.32	1.25	1.32
Quick Ratio	0.00	0.72	0.65	0.66	0.64	0.95	0.62	0.76	0.75	0.81
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-13,915	-25,777	1,647	1,032	4,944	1,113	-30,207	1,520	2,017
Operating Cash Flow to CapEx	221.32%	64.85%	-162.07%	328.12%	217.83%	165.69%	438.82%	244.56%	301.38%	309.95%
Free Cash Flow to Firm to Interest Expense	0.00	-136.42	-196.77	7.39	4.35	18.73	3.72	-119.87	7.04	10.19
Operating Cash Flow to Interest Expense	10.64	2.57	-6.10	7.90	8.97	4.94	7.94	7.49	14.18	16.83
Operating Cash Flow Less CapEx to Interest Expense	5.83	-1.39	-9.86	5.49	4.85	1.96	6.13	4.43	9.47	11.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.60	0.44	0.42	0.45	0.45	0.56	0.61	0.72	0.74
Accounts Receivable Turnover	0.00	5.10	4.01	3.82	3.85	3.44	3.64	3.64	3.91	3.92
Inventory Turnover	0.00	3.15	3.66	4.14	4.21	3.88	3.92	3.91	4.18	4.38
Fixed Asset Turnover	0.00	5.63	3.70	3.47	3.82	3.57	4.01	4.49	5.41	5.55
Accounts Payable Turnover	0.00	5.35	5.36	5.10	4.68	4.49	4.52	4.17	4.62	4.88
Days Sales Outstanding (DSO)	0.00	71.51	91.13	95.60	94.82	106.11	100.35	100.14	93.25	93.10
Days Inventory Outstanding (DIO)	0.00	115.94	99.76	88.17	86.78	94.13	93.17	93.30	87.23	83.39
Days Payable Outstanding (DPO)	0.00	68.25	68.07	71.51	77.99	81.32	80.72	87.60	79.01	74.80
Cash Conversion Cycle (CCC)	0.00	119.19	122.82	112.27	103.61	118.92	112.80	105.84	101.47	101.69
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	14,151	39,729	38,517	37,872	21,743	19,620	18,694	18,893	19,714
Invested Capital Turnover	0.00	1.85	0.64	0.58	0.62	0.69	0.99	1.10	1.36	1.44
Increase / (Decrease) in Invested Capital	0.00	14,151	25,578	-1,212	-645	-16,129	-2,123	-926	199	821
Enterprise Value (EV)	0.00	0.00	55,553	41,165	39,051	28,609	28,340	32,636	37,052	43,409
Market Capitalization	0.00	0.00	30,101	20,113	23,108	19,759	23,550	28,336	33,527	40,590
Book Value per Share	$0.00	$0.00	$12.47	$15.88	$21.35	$12.45	$14.31	$14.27	$15.27	$17.07
Tangible Book Value per Share	$0.00	$0.00	($10.48)	($8.16)	($4.03)	$2.43	$4.57	$4.25	$5.11	$6.94
Total Capital	0.00	15,132	46,759	42,240	41,121	25,875	23,473	21,182	21,539	23,078
Total Debt	0.00	277	8,349	7,227	6,622	7,633	6,727	6,657	6,020	6,023
Total Long-Term Debt	0.00	38	6,312	6,285	6,301	6,744	6,687	5,980	5,872	5,970
Net Debt	0.00	-704	1,319	3,504	3,373	3,501	2,874	4,169	3,374	2,659
Capital Expenditures (CapEx)	577	404	493	537	976	787	541	772	1,016	1,075
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	1,725	4,204	3,170	2,280	2,985	2,124	1,706	812	909
Debt-free Net Working Capital (DFNWC)	0.00	2,706	11,234	6,893	5,529	7,117	5,977	4,194	3,458	4,273
Net Working Capital (NWC)	0.00	2,467	9,197	5,951	5,208	6,228	5,937	3,517	3,310	4,220
Net Nonoperating Expense (NNE)	534	51	192	152	116	4,576	-680	-30,555	-251	-170
Net Nonoperating Obligations (NNO)	0.00	-704	1,319	3,504	3,373	3,501	2,874	4,169	3,374	2,659
Total Depreciation and Amortization (D&A)	530	550	1,103	1,486	1,418	1,317	1,105	1,061	1,087	1,136
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	13.19%	24.47%	13.86%	9.56%	14.42%	10.36%	8.06%	3.18%	3.27%
Debt-free Net Working Capital to Revenue	0.00%	20.68%	65.39%	30.13%	23.19%	34.37%	29.15%	19.82%	13.56%	15.35%
Net Working Capital to Revenue	0.00%	18.86%	53.54%	26.01%	21.85%	30.08%	28.96%	16.62%	12.98%	15.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.34)	$0.46	$0.23	($14.73)	($0.27)	($0.61)	$1.93	$3.00
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	1.13B	1.04B	1.03B	1.04B	2.05B	1.01B	1.00B	990.11M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.34)	$0.45	$0.23	($14.73)	($0.27)	($0.61)	$1.91	$2.98
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	1.13B	1.04B	1.03B	1.04B	2.05B	1.01B	1.00B	990.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($0.34)	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	1.13B	1.04B	1.03B	1.04B	2.05B	1.01B	1.00B	990.11M
Normalized Net Operating Profit after Tax (NOPAT)	1,666	520	351	799	991	463	1,105	1,323	1,959	3,116
Normalized NOPAT Margin	9.98%	3.97%	2.04%	3.49%	4.16%	2.23%	5.39%	6.25%	7.68%	11.20%
Pre Tax Income Margin	-0.95%	2.74%	-1.95%	2.97%	3.16%	-73.42%	2.09%	0.10%	10.41%	11.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.32	4.51	-1.56	4.05	4.18	-56.58	2.43	1.09	13.29	17.49
NOPAT to Interest Expense	-0.81	2.32	-1.52	1.95	1.63	-42.37	-3.38	-123.54	7.96	14.34
EBIT Less CapEx to Interest Expense	-5.13	0.55	-5.32	1.64	0.06	-59.56	0.62	-1.98	8.59	12.06
NOPAT Less CapEx to Interest Expense	-5.61	-1.65	-5.28	-0.46	-2.49	-45.35	-5.19	-126.61	3.26	8.91
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-103.84%	286.22%	274.91%	-4.72%	-226.97%	-125.61%	39.90%	27.79%
Augmented Payout Ratio	0.00%	0.00%	-225.83%	1,164.66%	367.16%	-4.72%	-358.48%	-268.86%	67.21%	43.88%

This table displays calculated financial ratios and metrics derived from Baker Hughes' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.42%	7.66%	18.22%	25.12%	23.69%	15.73%	12.28%	13.05%	4.02%	7.76%	0.14%
EBITDA Growth	-13.75%	-37.06%	107.01%	395.33%	131.90%	26.66%	-11.71%	21.73%	24.72%	35.32%	-2.61%
EBIT Growth	-24.28%	-47.70%	228.29%	212.94%	286.60%	38.63%	-17.23%	29.61%	31.68%	49.21%	-4.08%
NOPAT Growth	-158.10%	28.50%	180.53%	2,080.42%	3,031.94%	56.37%	40.86%	69.47%	44.73%	77.87%	15.00%
Net Income Growth	-156.25%	-44.05%	626.25%	149.46%	5,922.22%	139.89%	-20.31%	40.34%	47.71%	163.86%	-11.66%
EPS Growth	-300.00%	-39.02%	0.00%	147.62%	2,650.00%	72.00%	-21.05%	45.00%	50.98%	174.42%	-11.11%
Operating Cash Flow Growth	43.51%	16.02%	540.28%	167.60%	35.68%	3.79%	70.07%	-59.49%	24.69%	27.68%	-9.57%
Free Cash Flow Firm Growth	63.40%	-46.49%	40.75%	-95.61%	-111.21%	-71.73%	-38.65%	469.49%	21.40%	-50.63%	-177.42%
Invested Capital Growth	-8.57%	-4.72%	-4.25%	1.51%	3.75%	1.06%	-1.33%	1.21%	4.57%	4.35%	5.91%
Revenue Q/Q Growth	6.38%	9.98%	-3.20%	10.48%	5.16%	2.91%	-6.09%	11.23%	-3.24%	6.60%	-12.72%
EBITDA Q/Q Growth	244.55%	43.10%	64.61%	-13.27%	13.50%	-21.84%	14.74%	19.59%	16.29%	-15.20%	-21.18%
EBIT Q/Q Growth	135.13%	95.69%	101.47%	-18.45%	20.24%	-29.83%	20.28%	27.71%	22.16%	-20.49%	-27.66%
NOPAT Q/Q Growth	3.93%	2,239.48%	-6.91%	3.50%	42.23%	14.10%	-16.14%	24.53%	21.46%	40.24%	-45.20%
Net Income Q/Q Growth	98.92%	2,188.89%	209.04%	-28.74%	26.57%	-13.93%	2.66%	25.49%	33.22%	53.75%	-65.63%
EPS Q/Q Growth	97.62%	1,350.00%	128.00%	-29.82%	27.50%	-15.69%	-55.00%	28.89%	32.76%	53.25%	-66.10%
Operating Cash Flow Q/Q Growth	85.98%	50.42%	-48.66%	86.33%	-5.70%	15.06%	-15.88%	-55.61%	190.23%	17.82%	-40.42%
Free Cash Flow Firm Q/Q Growth	18.29%	-23.75%	-8.00%	-94.71%	-402.15%	292.24%	99.66%	-50.89%	-141.70%	220.75%	-415.28%
Invested Capital Q/Q Growth	-3.43%	2.88%	2.13%	0.04%	-1.30%	0.21%	-0.29%	2.62%	1.98%	-0.01%	1.21%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	20.94%	22.62%	20.10%	20.76%	20.22%	21.19%	19.91%	20.87%	22.32%	20.78%	22.95%
EBITDA Margin	8.64%	11.24%	19.12%	15.01%	16.20%	12.31%	15.04%	16.16%	19.43%	15.45%	13.96%
Operating Margin	5.01%	11.21%	7.66%	8.14%	10.75%	9.53%	10.17%	11.67%	13.46%	9.03%	11.70%
EBIT Margin	3.89%	6.93%	14.42%	10.64%	12.17%	8.30%	10.63%	12.20%	15.40%	11.49%	9.52%
Profit (Net Income) Margin	-0.17%	3.18%	10.16%	6.56%	7.89%	6.60%	7.21%	8.14%	11.20%	16.16%	6.36%
Tax Burden Percent	-6.25%	54.34%	76.45%	67.43%	69.04%	86.40%	72.23%	70.51%	76.71%	150.44%	72.91%
Interest Burden Percent	68.90%	84.60%	92.23%	91.37%	93.94%	92.06%	93.99%	94.60%	94.83%	93.50%	91.67%
Effective Tax Rate	106.25%	45.66%	23.55%	32.57%	30.96%	13.60%	27.77%	29.49%	23.29%	-50.44%	27.09%
Return on Invested Capital (ROIC)	-0.34%	6.73%	6.61%	6.75%	9.85%	11.17%	10.16%	11.57%	14.62%	19.59%	12.24%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.11%	1.85%	12.98%	8.53%	10.71%	8.21%	9.93%	11.40%	16.39%	25.87%	7.63%
Return on Net Nonoperating Assets (RNNOA)	-0.02%	0.42%	3.21%	2.13%	2.61%	2.06%	2.46%	2.74%	3.53%	4.79%	1.41%
Return on Equity (ROE)	-0.36%	7.14%	9.82%	8.87%	12.47%	13.23%	12.61%	14.32%	18.15%	24.38%	13.65%
Cash Return on Invested Capital (CROIC)	2.16%	-157.68%	3.45%	4.76%	4.98%	8.09%	11.09%	9.71%	7.58%	10.45%	9.43%
Operating Return on Assets (OROA)	2.34%	4.22%	9.07%	7.10%	8.58%	5.95%	7.72%	9.07%	11.35%	8.49%	7.05%
Return on Assets (ROA)	-0.10%	1.94%	6.40%	4.37%	5.56%	4.73%	5.24%	6.05%	8.26%	11.94%	4.71%
Return on Common Equity (ROCE)	-0.33%	6.68%	9.55%	8.77%	12.31%	13.11%	12.49%	14.18%	17.98%	24.14%	13.51%
Return on Equity Simple (ROE_SIMPLE)	-3.04%	0.00%	-0.52%	7.76%	11.19%	0.00%	12.03%	12.96%	14.02%	0.00%	17.33%
Net Operating Profit after Tax (NOPAT)	-17	360	335	347	493	562	472	587	713	1,000	548
NOPAT Margin	-0.31%	6.09%	5.86%	5.49%	7.42%	8.23%	7.35%	8.23%	10.33%	13.59%	8.53%
Net Nonoperating Expense Percent (NNEP)	-0.24%	4.88%	-6.36%	-1.78%	-0.86%	2.96%	0.23%	0.17%	-1.77%	-6.28%	4.61%
Return On Investment Capital (ROIC_SIMPLE)	-	1.70%	-	-	-	2.61%	-	-	-	4.34%	2.36%
Cost of Revenue to Revenue	79.07%	77.38%	79.90%	79.24%	79.78%	78.81%	80.09%	79.13%	77.68%	79.22%	77.05%
SG&A Expenses to Revenue	11.55%	10.92%	11.46%	11.01%	9.44%	9.28%	9.63%	9.01%	8.86%	7.94%	8.98%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.27%
Operating Expenses to Revenue	15.92%	11.41%	12.44%	12.62%	9.47%	11.66%	9.74%	9.20%	8.86%	11.75%	11.25%
Earnings before Interest and Taxes (EBIT)	209	409	824	672	808	567	682	871	1,064	846	612
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	464	664	1,093	948	1,076	841	965	1,154	1,342	1,138	897
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.45	1.97	1.93	2.06	2.28	2.18	2.19	2.25	2.22	2.40	2.55
Price to Tangible Book Value (P/TBV)	4.35	6.61	6.09	6.33	6.82	6.53	6.46	6.44	5.96	5.91	6.23
Price to Revenue (P/Rev)	0.99	1.34	1.29	1.34	1.41	1.31	1.29	1.30	1.32	1.46	1.56
Price to Earnings (P/E)	0.00	0.00	0.00	27.09	20.60	17.26	18.50	17.63	16.04	13.63	14.87
Dividend Yield	3.57%	2.60%	2.63%	2.43%	2.24%	2.34%	2.39%	2.87%	2.30%	2.05%	1.96%
Earnings Yield	0.00%	0.00%	0.00%	3.69%	4.85%	5.80%	5.41%	5.67%	6.23%	7.34%	6.72%
Enterprise Value to Invested Capital (EV/IC)	1.35	1.75	1.72	1.84	2.03	1.96	1.97	2.01	2.00	2.20	2.33
Enterprise Value to Revenue (EV/Rev)	1.19	1.54	1.49	1.51	1.56	1.45	1.42	1.44	1.44	1.56	1.67
Enterprise Value to EBITDA (EV/EBITDA)	14.24	24.45	17.28	11.10	10.15	9.36	9.70	9.63	9.17	9.44	10.15
Enterprise Value to EBIT (EV/EBIT)	37.99	119.11	38.76	16.64	14.14	12.91	13.62	13.27	12.39	12.54	13.51
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	29.67	23.93	21.55	20.09	18.54	16.98	15.29	15.78
Enterprise Value to Operating Cash Flow (EV/OCF)	13.93	17.29	14.42	12.50	12.67	12.10	10.98	13.52	12.83	13.03	14.25
Enterprise Value to Free Cash Flow (EV/FCFF)	59.86	0.00	48.71	39.01	41.65	24.37	17.67	20.83	27.00	21.52	25.39
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.46	0.45	0.44	0.43	0.39	0.39	0.38	0.37	0.35	0.35
Long-Term Debt to Equity	0.46	0.41	0.40	0.38	0.38	0.38	0.38	0.37	0.37	0.35	0.35
Financial Leverage	0.21	0.23	0.25	0.25	0.24	0.25	0.25	0.24	0.22	0.19	0.18
Leverage Ratio	2.20	2.22	2.24	2.30	2.34	2.37	2.37	2.35	2.33	2.31	2.30
Compound Leverage Factor	1.51	1.88	2.06	2.10	2.20	2.18	2.23	2.22	2.21	2.16	2.11
Debt to Total Capital	31.66%	31.43%	30.96%	30.33%	30.19%	27.95%	27.86%	27.27%	26.97%	26.10%	25.93%
Short-Term Debt to Total Capital	0.20%	3.20%	3.18%	3.64%	3.64%	0.69%	0.68%	0.16%	0.23%	0.23%	0.24%
Long-Term Debt to Total Capital	31.45%	28.23%	27.78%	26.69%	26.56%	27.26%	27.18%	27.11%	26.74%	25.87%	25.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.06%	0.62%	0.63%	0.63%	0.66%	0.70%	0.74%	0.68%	0.69%	0.69%	0.71%
Common Equity to Total Capital	67.28%	67.95%	68.41%	69.05%	69.15%	71.35%	71.40%	72.05%	72.34%	73.21%	73.36%
Debt to EBITDA	3.86	4.99	3.50	2.10	1.76	1.52	1.57	1.46	1.40	1.31	1.32
Net Debt to EBITDA	2.20	3.12	2.23	1.21	0.91	0.85	0.86	0.89	0.78	0.58	0.60
Long-Term Debt to EBITDA	3.83	4.48	3.14	1.85	1.55	1.48	1.53	1.45	1.39	1.30	1.30
Debt to NOPAT	-5.15	-0.21	-38.29	5.60	4.15	3.50	3.25	2.81	2.60	2.12	2.05
Net Debt to NOPAT	-2.94	-0.13	-24.40	3.24	2.16	1.96	1.78	1.72	1.45	0.94	0.93
Long-Term Debt to NOPAT	-5.12	-0.19	-34.35	4.93	3.65	3.42	3.17	2.80	2.58	2.10	2.03
Altman Z-Score	1.02	1.21	1.27	1.34	1.49	1.45	1.49	1.63	1.70	1.86	1.97
Noncontrolling Interest Sharing Ratio	9.93%	6.55%	2.81%	1.12%	1.24%	0.94%	0.97%	0.92%	0.94%	0.95%	0.99%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.51	1.32	1.32	1.28	1.27	1.25	1.25	1.27	1.30	1.32	1.34
Quick Ratio	0.89	0.76	0.75	0.75	0.77	0.75	0.73	0.74	0.75	0.81	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,686	1,286	1,183	63	-189	363	726	356	-149	179	-566
Operating Cash Flow to CapEx	331.67%	372.61%	174.62%	363.98%	371.56%	312.75%	278.01%	143.80%	394.53%	403.39%	278.04%
Free Cash Flow to Firm to Interest Expense	25.94	20.41	18.48	1.08	-3.86	8.08	17.70	7.58	-2.70	3.26	-11.09
Operating Cash Flow to Interest Expense	9.18	14.25	7.20	14.81	16.53	20.71	19.12	7.40	18.36	21.64	13.90
Operating Cash Flow Less CapEx to Interest Expense	6.42	10.43	3.08	10.74	12.08	14.09	12.24	2.26	13.71	16.27	8.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.60	0.61	0.63	0.67	0.71	0.72	0.73	0.74	0.74	0.74	0.74
Accounts Receivable Turnover	3.80	3.64	3.66	3.89	4.07	3.91	3.98	4.01	4.07	3.92	4.10
Inventory Turnover	4.01	3.91	3.91	4.08	4.28	4.18	4.11	4.26	4.22	4.38	4.18
Fixed Asset Turnover	4.43	4.49	4.73	5.04	5.37	5.41	5.55	5.59	5.50	5.55	5.51
Accounts Payable Turnover	4.50	4.17	4.35	4.64	4.91	4.62	4.70	4.88	5.04	4.88	4.85
Days Sales Outstanding (DSO)	96.01	100.14	99.62	93.89	89.76	93.25	91.67	90.93	89.75	93.10	89.05
Days Inventory Outstanding (DIO)	91.11	93.30	93.42	89.43	85.20	87.23	88.72	85.70	86.57	83.39	87.24
Days Payable Outstanding (DPO)	81.06	87.60	83.82	78.60	74.39	79.01	77.62	74.82	72.47	74.80	75.28
Cash Conversion Cycle (CCC)	106.06	105.84	109.23	104.72	100.58	101.47	102.77	101.81	103.85	101.69	101.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,171	18,694	19,093	19,101	18,853	18,893	18,839	19,332	19,715	19,714	19,953
Invested Capital Turnover	1.09	1.10	1.13	1.23	1.33	1.36	1.38	1.41	1.42	1.44	1.44
Increase / (Decrease) in Invested Capital	-1,703	-926	-848	284	682	199	-254	231	862	821	1,114
Enterprise Value (EV)	24,580	32,636	32,832	35,182	38,363	37,052	37,157	38,858	39,438	43,409	46,426
Market Capitalization	20,553	28,336	28,453	31,206	34,760	33,527	33,709	35,100	35,912	40,590	43,515
Book Value per Share	$13.88	$14.27	$14.55	$14.94	$15.10	$15.27	$15.42	$15.61	$16.30	$17.07	$17.21
Tangible Book Value per Share	$4.64	$4.25	$4.62	$4.87	$5.05	$5.11	$5.23	$5.46	$6.07	$6.94	$7.06
Total Capital	21,022	21,182	21,508	21,906	22,054	21,539	21,556	21,616	22,379	23,078	23,230
Total Debt	6,655	6,657	6,659	6,644	6,659	6,020	6,006	5,895	6,036	6,023	6,024
Total Long-Term Debt	6,612	5,980	5,975	5,847	5,857	5,872	5,859	5,861	5,984	5,970	5,969
Net Debt	3,804	4,169	4,244	3,839	3,458	3,374	3,289	3,611	3,372	2,659	2,747
Capital Expenditures (CapEx)	180	241	264	236	218	298	282	242	256	295	255
Debt-free, Cash-free Net Working Capital (DFCFNWC)	2,062	1,706	2,037	1,487	1,081	812	671	1,094	1,166	909	1,025
Debt-free Net Working Capital (DFNWC)	4,913	4,194	4,452	4,292	4,282	3,458	3,388	3,378	3,830	4,273	4,302
Net Working Capital (NWC)	4,870	3,517	3,768	3,495	3,480	3,310	3,241	3,344	3,778	4,220	4,247
Net Nonoperating Expense (NNE)	-7.81	172	-246	-67	-31	111	8.67	6.35	-61	-190	139
Net Nonoperating Obligations (NNO)	3,804	4,169	4,244	3,839	3,458	3,374	3,289	3,611	3,372	2,659	2,747
Total Depreciation and Amortization (D&A)	255	255	269	276	268	274	283	283	278	292	285
Debt-free, Cash-free Net Working Capital to Revenue	9.94%	8.06%	9.24%	6.38%	4.40%	3.18%	2.56%	4.05%	4.27%	3.27%	3.68%
Debt-free Net Working Capital to Revenue	23.69%	19.82%	20.20%	18.42%	17.42%	13.56%	12.93%	12.50%	14.03%	15.35%	15.45%
Net Working Capital to Revenue	23.49%	16.62%	17.10%	15.00%	14.16%	12.98%	12.37%	12.37%	13.84%	15.16%	15.26%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.02)	$0.25	$0.00	$0.41	$0.51	$0.44	$0.46	$0.58	$0.77	$1.19	$0.41
Adjusted Weighted Average Basic Shares Outstanding	1.01B	1.01B	1.01B	1.01B	1.01B	1.00B	998.00M	993.42M	989.53M	990.11M	990.75M
Adjusted Diluted Earnings per Share	($0.02)	$0.25	$0.00	$0.40	$0.51	$0.43	$0.45	$0.58	$0.77	$1.18	$0.40
Adjusted Weighted Average Diluted Shares Outstanding	1.01B	1.01B	1.01B	1.01B	1.01B	1.00B	998.00M	993.42M	989.53M	990.11M	990.75M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.01B	1.01B	1.01B	1.01B	1.01B	1.00B	998.00M	993.42M	989.53M	990.11M	990.75M
Normalized Net Operating Profit after Tax (NOPAT)	353	360	378	415	494	703	477	597	713	662	548
Normalized NOPAT Margin	6.57%	6.09%	6.61%	6.58%	7.44%	10.29%	7.43%	8.37%	10.33%	8.98%	8.53%
Pre Tax Income Margin	2.68%	5.86%	13.30%	9.72%	11.43%	7.64%	9.99%	11.54%	14.61%	10.74%	8.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.22	6.49	12.88	11.59	16.49	12.60	16.63	18.53	19.35	15.38	12.00
NOPAT to Interest Expense	-0.26	5.71	5.23	5.98	10.06	12.50	11.50	12.50	12.97	18.19	10.75
EBIT Less CapEx to Interest Expense	0.45	2.67	8.75	7.52	12.04	5.98	9.76	13.38	14.69	10.02	7.00
NOPAT Less CapEx to Interest Expense	-3.03	1.88	1.11	1.91	5.61	5.88	4.63	7.35	8.32	12.83	5.75
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-167.91%	-125.61%	-974.03%	65.84%	46.46%	39.90%	43.41%	40.66%	36.49%	27.79%	28.94%
Augmented Payout Ratio	-413.26%	-268.86%	-1,742.86%	105.45%	65.20%	67.21%	80.99%	78.45%	71.53%	43.88%	46.34%

Key Financial Trends

Baker Hughes has demonstrated steady revenue growth and improving profitability over the past four years through Q1 2025. Total revenue increased from approximately $5.7 billion in Q1 2023 to $6.4 billion in Q1 2025, showing resilience in generating sales despite cyclical industry conditions.

Gross profit margins have improved somewhat, with gross profit rising from $1.15 billion in Q1 2023 to $1.48 billion in Q1 2025, indicating better cost management or more higher-margin business.

Operating income also increased from $438 million in Q1 2023 to $752 million in Q1 2025, signaling stronger underlying operational performance. However, operating expenses remain significant, with increasing spending on selling, general & administrative costs and research & development, suggesting investments in growth initiatives.

Net income attributable to common shareholders grew from $455 million in Q1 2023 to $402 million in Q1 2025, though there was some volatility quarter to quarter. Earnings per share increased from $0.46 basic in Q1 2023 to $0.41 basic in Q1 2025, indicating relatively stable shareholder returns despite share count fluctuations.

Cash flow from operating activities was consistently positive, reaching $709 million in Q1 2025, supporting ongoing investments in property, plant & equipment. Capital expenditures remained robust, with $300 million invested in Q1 2025, reflecting ongoing asset renewal and expansion.

Balance sheet strength appears solid, with total assets growing from around $35 billion in Q1 2023 to $38 billion in Q1 2025. Cash and equivalents increased to $3.28 billion, and total equity stood at approximately $17 billion, demonstrating a well-capitalized company.

Liabilities have remained stable, with total debt levels roughly consistent around $8-9 billion, and some quarterly repayments noted. The company has returned value to shareholders through dividends and share repurchases, with dividends increasing from $0.19 to $0.23 per share per quarter over the period.

Consistent revenue growth from $5.7 billion in Q1 2023 to $6.4 billion in Q1 2025
Operating income increased from $438 million (Q1 2023) to $752 million (Q1 2025)
Strong operating cash flow of $709 million in Q1 2025 supports investment and dividends
Robust balance sheet with total assets of $38.1 billion and equity of $17 billion
Incremental dividend growth from $0.19 to $0.23 per share per quarter
Active share repurchase programs reducing share count and rewarding shareholders
Stable total debt levels around $8-9 billion with ongoing repayments
Increasing SG&A and R&D expenses reflect investment in growth but pressure margins
Minor quarterly fluctuations in net income and EPS indicative of sector cyclicality
Q1 2025 net income ($402 million) slightly lower than Q1 2023 ($455 million), signaling some profit margin compression

Overall, Baker Hughes displays positive financial trends with growth in revenue, operating income, and cash flow, supported by a healthy balance sheet and capital allocation discipline. Investors should monitor operating expense trends and profitability consistency amid the volatile energy services market environment.

08/04/25 04:16 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Baker Hughes' Financials

When does Baker Hughes' fiscal year end?

According to the most recent income statement we have on file, Baker Hughes' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Baker Hughes' net income changed over the last 9 years?

Baker Hughes' net income appears to be on a downward trend, with a most recent value of $3.01 billion in 2024, falling from -$631 million in 2015. The previous period was $1.97 billion in 2023. View Baker Hughes' forecast to see where analysts expect Baker Hughes to go next.

What is Baker Hughes' operating income?

Baker Hughes' total operating income in 2024 was $3.08 billion, based on the following breakdown:

Total Gross Profit: $5.84 billion
Total Operating Expenses: $2.76 billion

How has Baker Hughes' revenue changed over the last 9 years?

Over the last 9 years, Baker Hughes' total revenue changed from $16.69 billion in 2015 to $27.83 billion in 2024, a change of 66.8%.

How much debt does Baker Hughes have?

Baker Hughes' total liabilities were at $21.31 billion at the end of 2024, a 0.6% decrease from 2023, and a 210.3% increase since 2016.

How much cash does Baker Hughes have?

In the past 8 years, Baker Hughes' cash and equivalents has ranged from $0.00 in 2017 to $4.13 billion in 2020, and is currently $3.36 billion as of their latest financial filing in 2024.

How has Baker Hughes' book value per share changed over the last 9 years?

Over the last 9 years, Baker Hughes' book value per share changed from 0.00 in 2015 to 17.07 in 2024, a change of 1,707.4%.

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This page (NASDAQ:BKR) was last updated on 8/4/2025 by MarketBeat.com Staff

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Baker Hughes (BKR) Financials

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