Baker Hughes Company (USD). For the year ended 31 December 2025, revenue was 27.73B, −0.3 % on the previous year, net income was 2.59B. Debt as of 30 June 2026 stood at 16.25B.
Company reports as filed with the U.S. Securities and Exchange Commission.
| Metric | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Revenue | 27.73B | 27.83B |
| Research and development | 600M | 643M |
| Selling, general and administrative | 2.39B | 2.46B |
The series is stated in the current share scale after splits; dividends are not included in the price
Baker Hughes services oil and gas wells and makes turbines for gas liquefaction — two different economics under one roof.
The oilfield services half performs work on fields for producers and follows their capital budgets a quarter or two after prices move. That is a classic cyclical service, and its margin depends on how busy the equipment fleet is: idle crews and idle pumps cost almost as much as working ones.
The second half is industrial equipment: turbines, compressors and systems for liquefied natural gas plants. The cycle there is entirely different: a project is built over years, ordered in advance, and the backlog gives revenue visibility unattainable in services.
It is the second half that grew on the wave of export capacity construction worldwide. The company also develops carbon capture and hydrogen equipment. Risks: industry investment cycles, execution on large projects and geopolitics. Baker Hughes pays a dividend.
| Operating expenses | — | 24.75B |
| Operating income | — | 3.08B |
| Pre-tax income | 2.88B | 3.27B |
| Income tax | 253M | 257M |
| Net income | 2.59B | 2.98B |
| Earnings per share | 2.62 | 3.00 |
| Earnings per share, diluted | 2.60 | 2.98 |
| Metric | 30/06/2026 | 31/03/2026 | 31/12/2025 | 30/09/2025 | 30/06/2025 | 31/03/2025 | 31/12/2024 | 30/09/2024 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 15.73B | 14.76B | 3.72B | 2.69B | 3.09B | 3.28B | 3.36B | 2.66B |
| Receivables | 6.65B | 6.70B | 6.64B | 6.56B | 6.51B | 6.71B | 7.12B | 6.92B |
| Inventory | 4.96B | 4.87B | 4.95B | 5.04B | 5.11B | 5.16B | 4.95B | 5.25B |
| Current assets | 30.58B | 28.59B | 18.83B | 17.53B | 17.62B | 16.84B | 17.21B | 16.57B |
| Property, plant and equipment | 5.54B | 5.54B | 5.33B | 5.26B | 5.18B | 5.17B | 5.13B | 5.15B |
| Goodwill | 5.57B | 6.03B | 6.07B | 6.05B | 5.80B | 6.13B | 6.08B | 6.17B |
| Total assets | 52.62B | 50.90B | 40.88B | 39.23B | 38.74B | 38.11B | 38.36B | 37.53B |
| Current liabilities | 14.60B | 13.41B | 13.88B | 12.44B | 12.52B | 12.59B | 12.99B | 12.79B |
| Short-term debt | 774M | 753M | 689M | 68M | 66M | 55M | 53M | 52M |
| Long-term debt | 15.48B | 15.41B | 5.40B | 5.99B | 5.97B | 5.97B | 5.97B | 5.98B |
| Equity | 19.91B | 19.49B | 18.83B | 18.16B | 17.87B | 17.21B | 17.06B | 16.34B |
| Metric | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Operating cash flow | 3.81B | 3.33B |
| Depreciation and amortisation | 1.19B | 1.14B |
| Share-based compensation | 203M | 202M |
| Capital expenditure | 1.27B | 1.28B |
| Investing cash flow | −2.04B | −1.02B |
| Dividends paid | 910M | 836M |
| Share buybacks | 384M | 484M |
| Financing cash flow | −1.48B | −1.53B |
A company's accounts come as three tables, and each answers its own question. The income statement shows what the company earned over a period: revenue at the top, costs below it and net income at the bottom, which is what is left for shareholders after tax. When revenue grows and net income does not, costs are growing faster, so it is worth finding out which line has moved.
The balance sheet is a snapshot on a single date: what the company owns and what it owes. Assets equal liabilities plus shareholders' equity. Debt is best judged against cash and earnings rather than on its own, because the same amount can be unremarkable for a large company and dangerous for a small one. Note that a balance sheet is published every quarter, so its date is often more recent than the date of the annual income statement.
The cash flow statement shows how much money actually came in. Net income is an accounting figure, while operating cash flow is what the business really collected. A healthy company usually brings in at least as much in cash as it reports on paper. Out of that flow it pays for equipment, pays dividends and buys back its own shares.
Every column carries the date its period ended, because companies close their financial years in different months. A dash means the company did not report that line, not that it equals zero: a bank, for example, has no cost of revenue. Annual figures give the overall picture, and quarterly ones reveal a turning point sooner, although they are more seasonal, so compare a quarter with the same quarter of the previous year.
Amounts in USD unless stated otherwise. Data: US exchange trading and company filings with the regulator