Baker Hughes CoBKR
Baker Hughes Co Financial Overview 2021–2025
Updated Jul 10, 2026Baker Hughes amassed a $14.8 billion cash stockpile by Q1 2026 to fund its pivot toward new energy frontiers. The company is rapidly shedding its legacy oilfield identity to become an industrial technology powerhouse, leveraging strategic dealmaking to capitalize on the global liquefied natural gas and climate transition boom.
This operational shift is clearly reflected in the top line, as total revenue grew from $20.5 billion in FY2021 to $27.7 billion in FY2025. While the traditional Oilfield Services & Equipment segment faced recent headwinds—with revenue declining 8% in FY2025—the Industrial & Energy Technology segment delivered 10% revenue growth over the same period. This pivot has secured long-term visibility, driving remaining performance obligations to $35.9 billion by the end of FY2025. Momentum accelerated into Q1 2026, when net income surged 120% year-over-year to $930 million following the strategic divestiture of its Surface Pressure Control business.
Investors have digested this structural transformation, valuing the stock at $45.54 per share at the close of FY2025 as the company prepares to finalize its pending $14.9 billion acquisition of Chart Industries in 2026.
Recent Developments (Q4 2025 and Q1 2026)
Baker Hughes advanced its corporate transformation by issuing €3.0 billion and $6.5 billion in notes to fund the pending Chart Industries merger, now targeting a July 2026 close amid European clearance discussions. Total top-line performance rose 2% year-over-year to $6.6 billion in Q1 2026. This expansion was driven by the Industrial & Energy Technology division, which jumped 14% to $3.35 billion, eclipsing the Oilfield Services & Equipment division's 7% drop to $3.24 billion. The company also returned $228 million to shareholders via dividends during the quarter, following $1.3 billion in capital returns throughout FY2025.
Bulls argue the expanding profitability—highlighted by a 21% increase in segment EBITDA to $2.5 billion in FY2025—justifies the stock trading at 23.1x earnings as of April 24, 2026. Bears caution that persistent Middle East disruptions could prolong the deterioration of traditional oilfield revenues.
What to watch: final European clearance for the Chart Industries merger; recovery trajectories in global upstream spending outside the Middle East.
Rev
$27.73B
FY2025
NI
$2.59B
FY2025
EPS
$3.00
FY2024
OCF
$3.81B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
Baker Hughes Co 8-K Report, Corporate Update (Jun 22, 2026)
Baker Hughes Company (BKR) has provided an update on its proposed acquisition of Chart Industries, Inc. The company confirmed it is in discussions with the European Commission (EC) regarding potential commitments to secure clearance for the merger. These proposed commitments are not anticipated to materially alter the strategic or financial benefits of the acquisition. Despite ongoing discussions with the EC and the extension of the Phase I review period, Baker Hughes continues to project the merger's closing in July 2026, contingent on EC approval and satisfaction of customary closing conditions. Investors should remain aware of the forward-looking nature of these statements and the inherent risks and uncertainties associated with regulatory approvals, integration, and market conditions, as detailed in Baker Hughes's filings.
Baker Hughes Co 8-K Report, Corporate Update (May 21, 2026)
Baker Hughes Company (BKR) announced a significant update regarding its proposed acquisition of Chart Industries, Inc. (Chart). The company has successfully completed its pre-notification process with the European Commission (EC) and has formally filed a Form CO, initiating the EC's Phase I review. This development is a crucial step towards closing the transaction, which is now expected in July 2026, contingent upon receiving EC approval, other regulatory clearances, and customary closing conditions. This filing provides investors with a clearer timeline for the Chart acquisition, moving it closer to completion. While the expected closing date of July 2026 offers a more concrete outlook, it's important for investors to note that the transaction remains subject to significant regulatory hurdles and other closing conditions. The company's forward-looking statements also highlight potential risks, including integration challenges, financing considerations, and the possibility of not achieving expected synergies.
Baker Hughes Co 8-K Report, Executive Changes (May 19, 2026)
Baker Hughes Company (BKR) held its 2026 Annual Meeting of Stockholders on May 19, 2026, where key proposals regarding executive compensation and equity plans were presented and voted upon. The primary focus for investors revolves around the shareholder approval of the Baker Hughes Company 2026 Long-Term Incentive Plan (2026 LTIP) and the Second Amended and Restated Baker Hughes Company Employee Stock Purchase Plan (ESPP). These plans are designed to foster employee retention, incentivize performance, and align executive and employee interests with those of shareholders through stock-based and cash-based compensation. Additionally, the meeting saw the election of all ten director nominees to the Board, advisory approval of the executive compensation program, and the ratification of KPMG LLP as the independent registered public accounting firm for fiscal year 2026. The overwhelming support for the equity plans and director elections indicates strong shareholder confidence in the company's governance and compensation strategies.
Baker Hughes Co 8-K Report, Financial Results (Apr 23, 2026)
Baker Hughes Company (BKR) has filed a Form 8-K on April 23, 2026, to report its financial results for the first quarter ended March 31, 2026. The filing primarily references a furnished press release (Exhibit 99.1) which contains the detailed earnings announcement. This information, while provided to the market, is not deemed "filed" under SEC regulations, meaning it doesn't carry the same legal implications as formally filed documents unless specifically incorporated into future filings. Investors should note that the press release likely contains key financial metrics, operational performance updates, and forward-looking statements. The Company has also announced a conference call scheduled for April 24, 2026, to discuss these results, providing an opportunity for deeper insights and management commentary. An archived webcast will be available for a month post-call.
Baker Hughes Co 8-K Report, Material Agreement (Mar 11, 2026)
Baker Hughes Company (BHC) has filed an 8-K detailing a significant debt offering, raising a total of €3.0 billion and $6.0 billion through the issuance of senior notes across multiple maturity dates and interest rates. These notes were issued by its subsidiaries, Baker Hughes Holdings LLC and Baker Hughes Co-Obligor, Inc., and are fully and unconditionally guaranteed by BHC. The primary purpose of this substantial financing is to fund a portion of the cash consideration for the pending acquisition of Chart Industries, Inc. (Chart), along with associated transaction fees and the repayment of Chart's outstanding indebtedness. This move indicates a strategic step towards completing a major acquisition, which will likely reshape the company's capital structure and operational landscape.
View all 8-K filings →