Baker Hughes Past Earnings Performance
Past criteria checks 4/6
Baker Hughes has been growing earnings at an average annual rate of 55.6%, while the Energy Services industry saw earnings growing at 43.7% annually. Revenues have been growing at an average rate of 8.3% per year. Baker Hughes's return on equity is 16.2%, and it has net margins of 11.2%.
Key information
55.63%
Earnings growth rate
55.67%
EPS growth rate
| Energy Services Industry Growth | 23.71% |
| Revenue growth rate | 8.30% |
| Return on equity | 16.18% |
| Net Margin | 11.17% |
| Next Earnings Update | 26 Jul 2026 |
Recent past performance updates
Recent updates
Narrative Update • Jul 06
BKR: Angola Subsea Wins And IET Orders Will Support Future Upside
The analyst fair value estimate for Baker Hughes has increased by $5 to $85. This reflects updated models that incorporate Street research pointing to steady OFSE and IET trends and revised long-term P/E and growth assumptions.Seeking Alpha • Jun 30
Baker Hughes Weighed Down By Dashed Oil Boom Hopes
Summary Baker Hughes remains a "Sell," as muted oilfield services offset booming IET growth. IET segment drives double-digit growth, fueled by U.S. LNG exports and AI data center demand. Oilfield services face persistent headwinds from weak oil prices and reduced Chinese demand. Fair value is capped at $50, with 2024 EPS now targeted at $2.30–$2.40 and a 24x multiple seen as expensive. Read the full article on Seeking Alpha
Narrative Update • Jun 22
BKR: Offshore Backlog And Energy Technology Orders Will Drive Upside Outlook
The Baker Hughes analyst price target edges slightly lower to $71.24 from $71.52, as analysts refresh oilfield services models and modestly adjust fair value and P/E assumptions following recent target revisions across the sector. Analyst Commentary Recent research on Baker Hughes centers on refreshed oilfield services models, updated long term forecasts and a broad round of target resets that frame how analysts see the stock's risk reward profile.Narrative Update • Jun 03
BKR: Offshore Backlog And Data Center Demand Will Shape Fairly Valued Outlook
Analysts have adjusted the Baker Hughes price target moderately higher to about $71.52 from roughly $69.33, reflecting refreshed oilfield services models that incorporate updated revenue, margin and P/E assumptions, along with recent Street target revisions clustered in the mid $70s. Analyst Commentary Street research on Baker Hughes has centered on how updated oilfield services models, refreshed EBITDA forecasts and revised P/E assumptions line up with the current share price.
New Narrative • May 17
Future LNG And Data Center Dependence Will Pressure Margins And Earnings
Catalysts About Baker Hughes Baker Hughes is an energy technology company that provides equipment, services and digital solutions across the oil, gas and broader energy infrastructure value chain. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 29
BKR: Waygate Review And Data Center Exposure Will Shape Fairly Valued Outlook
The analyst price target for Baker Hughes has shifted from $62.67 to $69.33. Analysts cite updated assumptions for revenue growth, margins, and future P/E, along with a broad series of recent target hikes across major research firms, as key drivers of the change.New Narrative • Apr 26
Multi Year LNG And Power Backlog Will Support Stronger Long Term Earnings Resilience
Catalysts About Baker Hughes Baker Hughes provides equipment, services and digital solutions across the full energy value chain, from production to power and industrial applications. What are the underlying business or industry changes driving this perspective?Narrative Update • Apr 11
BKR: Waygate Review And Sector Exposure Will Shape Fairly Valued Outlook
Analysts raised the Baker Hughes price target by about $1 to $62.67, citing slightly adjusted growth, margin and discount rate assumptions, as well as a modestly higher future P/E. Analyst Commentary Recent research has been broadly focused on recalibrating valuation for Baker Hughes, with a series of higher price targets clustered around similar timeframes.Narrative Update • Mar 27
BKR: IET Execution And Waygate Sale Review Will Support Fairly Valued Outlook
Analysts have nudged Baker Hughes' average price target higher, with a cluster of recent increases ranging from $2 to $14 as they update models for slightly revised fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Analyst Commentary Recent Street research on Baker Hughes clusters around a series of price target changes, with most moves pointing to modestly higher fair value estimates and one trim within a relatively tight range.Narrative Update • Mar 09
BKR: IET Execution And Waygate Review Will Support Fairly Valued Outlook
Analysts have nudged their average price target for Baker Hughes higher to about $61.38, reflecting updated views that slightly stronger revenue growth, modestly higher profit margins, and a similar forward P/E profile are supported by a recent wave of upward target revisions across major research firms. Analyst Commentary Recent research has clustered around upward price target revisions, with only one modest cut, giving you a fairly clear snapshot of how the Street is thinking about Baker Hughes today.Narrative Update • Feb 23
BKR: IET Execution And Energy Transition Deals Will Support Fairly Valued Outlook
The analyst fair value estimate for Baker Hughes has moved modestly higher to $60.80. The shift is supported by a series of recent price target increases from major firms that point to recalibrated assumptions around long term earnings power and sector positioning.Analysis Article • Feb 12
Some May Be Optimistic About Baker Hughes' (NASDAQ:BKR) Earnings
Baker Hughes Company's ( NASDAQ:BKR ) stock was strong despite it releasing a soft earnings report last week. However...Narrative Update • Feb 08
BKR: IET Execution And Geopolitical Openings Will Guide Fairly Valued Outlook
Analysts have raised their Baker Hughes fair value estimate to $59.75 from $53.47, as a series of recent price target increases across the Street has been supported by updated assumptions for revenue growth, profit margins, and future P/E levels. Analyst Commentary Street research on Baker Hughes has been active, with several firms revisiting their assumptions for growth, margins, and valuation multiples.Narrative Update • Jan 25
BKR: IET Execution And Geopolitical Openings Will Shape Next Cycle Outlook
Narrative Update The updated analyst price target for Baker Hughes edges higher to about $53.47. Analysts point to refined expectations around revenue growth, margins and future P/E, supported by recent Street research that has generally nudged targets upward across the oilfield services group.Narrative Update • Jan 10
BKR: IET Resilience And Potential Breakup Will Shape Next Cycle Outlook
Analysts have made only a small adjustment to their Baker Hughes price targets, with a blended fair value estimate now effectively unchanged at about US$53. This reflects mixed views, as some firms trimmed targets on more cautious oilfield spending expectations, while others nudged them higher on resilient U.S. activity and the ongoing strength of the Industrial & Energy Technology business.Narrative Update • Dec 14
BKR: IET Outperformance And Divestitures Will Drive Upside In Coming Cycle
Analysts have nudged their price target on Baker Hughes modestly higher, lifting fair value by about $0.57 to roughly $53.14. They cite continued outperformance in the Industrial and Energy Technology unit, improving long cycle energy activity, and a supportive backlog and divestiture strategy despite a still choppy macro backdrop.Narrative Update • Nov 29
BKR: Divestiture Plans And Leadership Changes Will Shape Sector Recovery Prospects
Baker Hughes' analyst fair value estimate was nudged slightly higher, rising by $0.05 to $52.57. Analysts cite ongoing strength in the company's Industrial and Energy Technology segment, along with improved execution and sector recovery signals.Narrative Update • Nov 15
BKR: Sector Activity Rebound And Divestiture Plans Will Shape Risk-Reward Ahead
The average analyst price target for Baker Hughes has increased modestly to approximately $52.52 per share. This reflects analysts' expectations for improving sector momentum and upcoming strategic catalysts, despite a still cautious macroeconomic environment.Narrative Update • Nov 01
BKR: Broader Energy Transition And Asset Portfolio Moves Will Shape Medium-Term Outlook
Analysts have raised their average price target for Baker Hughes, increasing it by approximately $0.68 to $52.43. Improving energy sector fundamentals and continued operational momentum support a more positive outlook for the shares.Narrative Update • Oct 18
Expanding Distributed Power And New Energy Will Define Long-Term Trends
The analyst price target for Baker Hughes increased modestly to approximately $51.75 per share. This reflects analyst expectations of improved revenue growth and favorable momentum in the company's Industrial & Energy Technology segment, despite ongoing sector challenges.Narrative Update • Oct 03
Expanding Distributed Power And New Energy Will Define Long-Term Trends
The analyst price target for Baker Hughes has increased modestly to approximately $51.43. This reflects a blend of stronger Industrial & Energy Technologies momentum, successful acquisitions, and improved revenue diversification, according to analysts.Narrative Update • Sep 10
Expanding Distributed Power And New Energy Will Define Long-Term Trends
Analysts have raised Baker Hughes’ price target slightly to $50.55, citing strong revenue growth and diversification in the IET segment, a transformative acquisition of Chart Industries, robust order backlog, and secular industry tailwinds, though some caution lingers due to oilfield services underperformance and regional uncertainties. Analyst Commentary Bullish analysts highlight Baker Hughes’ rapid expansion and revenue growth in its Industrial & Energy Technologies (IET) segment, now comprising a majority of total revenues, driven by strength in non-oil and gas end-markets.Analysis Article • Jul 13
Here's Why We Think Baker Hughes (NASDAQ:BKR) Might Deserve Your Attention Today
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Seeking Alpha • Apr 20
Baker Hughes: Turmoil Ahead
Summary Baker Hughes Company is an energy technology firm with a diversified portfolio serving upstream, midstream, and downstream oil and gas sectors. The company operates in two segments: Oilfield Services & Equipment and Industrial & Energy Technology. Baker Hughes is a consistent investment for dividend seekers, with a 5-year average revenue growth of 3.31% per year. The company’s diversified portfolio and steady growth make it a reliable choice for investors seeking stable returns. Read the full article on Seeking AlphaSeeking Alpha • Feb 22
Baker Hughes: Energy Services Firm Will Continue Firing On All Cylinders
Summary Baker Hughes gets a buy rating despite being overvalued and trading well above its moving average, as several upside factors come into play. The firm will take advantage of demand for natural gas/LNG, and hydrogen renewables, and has a global diversified portfolio of products. With a low debt/equity of 0.35, the leverage risk is low, and its corporate debt has declined in recent years. Although it is a not a high-yield dividend stock, its 5-year dividend growth CAGR has been positive, and the strong cashflow should provide further dividend support. Read the full article on Seeking AlphaSeeking Alpha • Jan 07
Baker Hughes: A Rare GARP Story In Energy, A Buy Into Earnings
Summary Baker Hughes has outperformed the Energy sector since October 2022, driven by strong earnings, robust cash flow, and significant margin expansion. New LNG buildouts and rising global LNG demand are key growth catalysts, despite potential near-term capex spending reductions in North America. Analysts have become more bullish on BKR, with multiple earnings estimate upgrades and a favorable valuation given its growth profile and free cash flow yield. Technically, BKR is in a bullish uptrend, with support near $40 and a price target of $60, making it an attractive buy ahead of Q4 earnings. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Baker Hughes makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 27,893 | 3,116 | 2,440 | 587 |
| 31 Dec 25 | 27,733 | 2,588 | 2,455 | 600 |
| 30 Sep 25 | 27,711 | 2,891 | 2,358 | -27 |
| 30 Jun 25 | 27,609 | 3,048 | 2,363 | -15 |
| 31 Mar 25 | 27,838 | 2,926 | 2,439 | 625 |
| 31 Dec 24 | 27,829 | 2,979 | 2,480 | 643 |
| 30 Sep 24 | 27,300 | 2,240 | 2,525 | 480 |
| 30 Jun 24 | 27,033 | 1,992 | 2,539 | 322 |
| 31 Mar 24 | 26,208 | 1,822 | 2,592 | 164 |
| 31 Dec 23 | 25,506 | 1,943 | 2,629 | 651 |
| 30 Sep 23 | 24,576 | 1,685 | 2,616 | 0 |
| 30 Jun 23 | 23,304 | 1,151 | 2,610 | 0 |
| 31 Mar 23 | 22,037 | -97 | 2,538 | 0 |
| 31 Dec 22 | 21,156 | -601 | 2,504 | 0 |
| 30 Sep 22 | 20,736 | -490 | 2,476 | 0 |
| 30 Jun 22 | 20,460 | -466 | 2,463 | 0 |
| 31 Mar 22 | 20,555 | 305 | 2,481 | 0 |
| 31 Dec 21 | 20,502 | -219 | 2,447 | 0 |
| 30 Sep 21 | 20,512 | 140 | 2,417 | 0 |
| 30 Jun 21 | 20,469 | -38 | 2,375 | 0 |
| 31 Mar 21 | 20,062 | -165 | 2,320 | 0 |
| 31 Dec 20 | 20,705 | -9,940 | 2,405 | 0 |
| 30 Sep 20 | 21,558 | -10,544 | 2,571 | 0 |
| 30 Jun 20 | 22,390 | -10,317 | 2,674 | 0 |
| 31 Mar 20 | 23,648 | -10,131 | 2,791 | 0 |
| 31 Dec 19 | 23,838 | 128 | 2,827 | 0 |
| 30 Sep 19 | 23,755 | 211 | 2,814 | 0 |
| 30 Jun 19 | 23,538 | 167 | 2,744 | 0 |
| 31 Mar 19 | 23,093 | 157 | 2,692 | 0 |
| 31 Dec 18 | 22,877 | 195 | 2,654 | 0 |
| 30 Sep 18 | 22,411 | 95 | 2,694 | 0 |
| 30 Jun 18 | 22,047 | -52 | 2,881 | 0 |
| 31 Mar 18 | 19,514 | -33 | 2,690 | 0 |
| 31 Dec 17 | 17,179 | -103 | 2,475 | 0 |
| 30 Sep 17 | 14,896 | -134 | 2,200 | 0 |
| 30 Jun 17 | 12,619 | 0 | 1,890 | 0 |
| 31 Mar 17 | 12,926 | -141 | 1,905 | 0 |
| 31 Dec 16 | 13,082 | 0 | 1,931 | 0 |
| 31 Dec 15 | 16,688 | 0 | 2,115 | 0 |
Quality Earnings: BKR has high quality earnings.
Growing Profit Margin: BKR's current net profit margins (11.2%) are higher than last year (10.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: BKR has become profitable over the past 5 years, growing earnings by 55.6% per year.
Accelerating Growth: BKR's earnings growth over the past year (6.5%) is below its 5-year average (55.6% per year).
Earnings vs Industry: BKR earnings growth over the past year (6.5%) exceeded the Energy Services industry -26.6%.
Return on Equity
High ROE: BKR's Return on Equity (16.2%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/09 03:52 |
| End of Day Share Price | 2026/07/09 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Baker Hughes Company is covered by 41 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| William Selesky | Argus Research Company |
| J. David Anderson | Barclays |
| Nicholas Green | Bernstein |