undamentalytics Newsletter
Sign in

Baker Hughes key statistics and ratios

In fiscal 2025, Baker Hughes had return on equity of 14.5% and a net margin of 9.3%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin0.0%0.0%−0.6%0.9%0.5%−48.0%−1.1%−2.8%7.6%10.7%9.3%10.1%
Return on equity0.0%0.0%−0.7%1.2%0.6%−57.1%−1.6%−4.1%13.1%18.5%14.5%14.9%
Return on assets—0.0%−0.3%0.4%0.2%−21.8%−0.6%−1.7%5.5%7.9%6.5%5.8%
Effective tax rate—48.3%—47.7%64.0%———25.8%7.9%8.8%8.8%
R&D as % of revenue2.4%2.7%2.9%3.1%2.9%2.9%2.4%2.6%2.6%2.3%2.2%2.0%
SG&A as % of revenue12.7%14.7%14.8%11.8%11.9%11.6%12.0%11.9%10.2%8.8%8.6%8.8%
Dividends ÷ net income———161.5%308.6%———40.5%28.1%35.2%31.4%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · September 30, 2026
What it owns · $59.1bn
Short-term assets $21.6bnLonger-term assets $37.4bn
What it owes, and who funded it · $37.6bn
Short-term liabilities $17.5bnShareholders' equity $20.1bn
  • Short-term assets cover short-term liabilities $21.6bn of assets due within a year against $17.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $4.1bn of cash against $18.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 91% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 42% to 91% over five years.
  • A year's operating cash flow covers at least 20% of debt $4.5bn of operating cash flow against $18.3bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Baker Hughes's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

18 /100

Weak moat

How hard Baker Hughes's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.3% of total assets over 10 years.

  • Durability 0 / 20

    Operating margin has been a median 5.1%; its worst year was -77.2%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 8 of 10 years, at a median 5.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BKR vs HALBKR vs SLBBKR vs FTI

More: Oil & Gas Equipment & Services stocks compared, Energy sector, rankings of US companies

Figures from Baker Hughes's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Baker Hughes.