Baker Hughes vs Halliburton
Baker Hughes is the larger business, with $27.73bn of revenue in fiscal 2025 against $22.18bn for Halliburton (1.3 times as much). Baker Hughes grew faster (-0.3% against -3.3%). Baker Hughes kept more of each dollar of sales as profit: a net margin of 9.3% against 5.8%.
| Latest fiscal year | Baker HughesBKR, 2025 | HalliburtonHAL, 2025 |
|---|---|---|
| Revenue | $27.73bn | $22.18bn |
| Revenue growth | -0.3% | -3.3% |
| Net income | $2.59bn | $1.28bn |
| Operating margin | — | 10.2% |
| Net margin | 9.3% | 5.8% |
| Return on equity | 14.5% | 12.2% |
| Free cash flow | $2.54bn | $1.67bn |
| Cash | $3.71bn | $2.21bn |
| Total debt | $6.09bn | $7.16bn |
| Debt to equity | — | 68.4% |
| Dividend per share | — | — |
| Dividend yield | 1.7% | 2.0% |
| Share buybacks | $384m | $1.01bn |
| Employees | 56,000 | 46,000 |
| Market value | $52.82bn | $28.45bn |
| Price vs our value range | Above our value range | Within our value range |
| Moat score | 18 (Weak) | 44 (Weak) |
| Insider trades, 12 months | 0 buys, 20 sales | 0 buys, 23 sales |