Upside case
Bull case
$65+11.3%
BKR would need investors to value it at roughly 27x earnings — about 3x more generous than today's 24x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Baker Hughes Company (BKR) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
45
analysts
30 bullish · 1 bearish · 45 covering BKR
Strong Buy
0
Buy
30
Hold
14
Sell
1
Strong Sell
0
Consensus Target
$73
+25.3% vs today
Scenario Range
$31 – $65
Model bear to bull value window
Coverage
45
Published analyst ratings
Valuation Context
24.5x
Forward P/E · Market cap $57.9B
BKR price targets
Three scenarios for where BKR stock could go
Current
~$58
Confidence
53 / 100
Updated
Jun 18, 2026
Where we are now
Current · $58
Bear
$31
Base
$49
Bull
$65
Market caseClosest to today
Base case
$49-15.5%
At 21x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$31-46.8%
If investor confidence fades or macro conditions deteriorate, a 11x multiple contraction could push BKR down roughly 47% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Baker Hughes Company
BKR · NASDAQEnergyOil & Gas Equipment & ServicesDecember year-end
Baker Hughes is a diversified energy technology company that provides equipment, services, and digital solutions across the oil and gas value chain. It generates revenue through four main segments: Oilfield Services (~40% of revenue), Oilfield Equipment (~20%), Turbomachinery & Process Solutions (~25%), and Digital Solutions (~15%). The company's competitive advantage lies in its integrated technology portfolio—spanning hardware, software, and services—and its long-standing relationships with major energy operators worldwide.
Market Cap
$57.9B
Revenue TTM
$27.9B
Net Income TTM
$3.1B
Net Margin
11.2%
BKR Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
100%Exceptional
12 quarters tracked
Revenue Beat Rate
75%Exceptional
vs consensus estimates
Avg EPS Surprise
+11.8%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.63/$0.56
Revenue
$6.9B/$6.6B
Q4 2025
EPS
$0.68/$0.62
Revenue
$7.0B/$6.8B
Q1 2026
EPS
$0.78/$0.67
Revenue
$7.4B/$7.1B
Q2 2026
EPS
$0.58/$0.49
Revenue
$6.6B/$6.3B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.63/$0.56 | +13.5% | $6.9B/$6.6B | +4.2% |
| Q4 2025 | $0.68/$0.62 | +10.4% | $7.0B/$6.8B | +2.6% |
| Q1 2026 | $0.78/$0.67 | +16.8% | $7.4B/$7.1B | +4.4% |
| Q2 2026 | $0.58/$0.49 | +17.6% | $6.6B/$6.3B | +3.9% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$28.6B
+2.5% YoY
FY2
$29.4B
+2.9% YoY
EPS Outlook
FY1
$2.70
-13.6% YoY
FY2
$2.74
+1.5% YoY
Trailing FCF (TTM)$2.6B
FCF Margin: 9.4%
Next Earnings
July 21, 2026
Expected EPS
$0.52
Expected Revenue
$6.5B
BKR beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
BKR Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $27.7B
Product Mix
Latest annual revenue by segment or product family
Oilfield Services And Equipment
51.6%
-8.3% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Non-US
72.2%
-2.0% YoY
Tap, hover, or focus a slice to inspect segment detail.
Oilfield Services And Equipment is the largest disclosed segment at 51.6% of FY 2025 revenue, down 8.3% YoY.
Non-US is the largest reported region at 72.2%, down 2.0% YoY.
BKR Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Fair versus peers
Fair value est. $54 — implies -6.9% from today's price.
Premium to Fair Value
6.9%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
BKR
22.5x
vs
S&P 500
24.4x
8% discount
vs Energy Trailing P/E
BKR
22.5x
vs
Energy
15.5x
+45% premium
vs BKR 5Y Avg P/E
Today
22.5x
vs
5Y Average
16.4x
+37% premium
Forward PE
24.5x
S&P 500
18.8x
+30%
Energy
12.5x
+96%
5Y Avg
—
—
Trailing PE
22.5x
S&P 500
24.4x
-8%
Energy
15.5x
+45%
5Y Avg
16.4x
+37%
PEG Ratio
—
S&P 500
1.66x
—
Energy
0.52x
—
5Y Avg
—
—
EV/EBITDA
12.9x
S&P 500
15.2x
-15%
Energy
7.8x
+65%
5Y Avg
10.2x
+27%
Price/FCF
22.8x
S&P 500
20.7x
+10%
Energy
13.8x
+66%
5Y Avg
18.7x
+22%
Price/Sales
2.1x
S&P 500
3.1x
-32%
Energy
1.4x
+48%
5Y Avg
1.4x
+53%
Dividend Yield
1.57%
S&P 500
1.91%
-18%
Energy
3.47%
-55%
5Y Avg
2.36%
-34%
| Metric | BKR | S&P 500 | Energy | 5Y Avg BKR |
|---|---|---|---|---|
| Forward PE | 24.5x | 18.8x+30% | 12.5x+96% | — |
| Trailing PE | 22.5x | 24.4x | 15.5x+45% | 16.4x+37% |
| PEG Ratio | — | 1.66x | 0.52x | — |
| EV/EBITDA | 12.9x | 15.2x-15% | 7.8x+65% | 10.2x+27% |
| Price/FCF | 22.8x | 20.7x+10% | 13.8x+66% | 18.7x+22% |
| Price/Sales | 2.1x | 3.1x-32% | 1.4x+48% | 1.4x+53% |
| Dividend Yield | 1.57% | 1.91% | 3.47% | 2.36% |
BKR trades above S&P 500 benchmarks on 2 of 5 measured multiples — is elevated on some multiples, but competitive on others — a mixed valuation picture.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolBKR Financial Health
Verdict
Strong
BKR generates $2.6B in free cash flow at a 9.4% margin — 12.7% ROIC signals a durable competitive advantage · returns 2.2% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$27.9B
Revenue Growth
TTM vs prior year
+0.2%
Gross Margin
Gross profit as a share of revenue
23.6%
Operating Margin
Operating income divided by revenue
25.3%
Net Margin
Net income divided by revenue
11.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$3.13
Free Cash Flow (TTM)
Cash generation after capex
$2.6B
FCF Margin
FCF as share of revenue — the primary cash quality signal
9.4%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
12.7%
ROA
Return on assets, trailing twelve months
7.3%
Cash & Equivalents
Liquid assets on the balance sheet
$3.7B
Net Debt
Total debt minus cash
$3.4B
Debt Serviceability
Net debt as a multiple of annual free cash flow
1.3× FCF
~1.3 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
16.1%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
2.2%
Dividend
1.6%
Buyback
0.7%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$384M
Dividend / Share
Annualized trailing dividend per share
$0.92
Payout Ratio
Share of earnings distributed as dividends
35.2%
Shares Outstanding
Declining as buybacks retire shares
992M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageBKR Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
High Risk
Market volatility sensitivity
Baker Hughes (BKR) has historically shown significant drawdowns during systemic shocks, averaging -26% compared to the S&P 500's -16%.
High Risk
Earnings and market risks
The company disclosed 39 risk factors in its recent earnings report, indicating substantial operational and financial challenges.
Medium
Price target uncertainty
Projected share prices for Baker Hughes vary widely, with mid-year estimates around $113.76 and year-end around $152.16, reflecting market uncertainty.
Lower
Analyst rating divergence
While some analysts maintain a Buy rating with a $72 target, others highlight bearish factors that could limit upside potential.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why BKR Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
IET margin expansion
Potential for Industrial & Energy Technology (IET) margins to expand beyond 20%, driving earnings growth.
Record RPO contracts
Strong recurring revenue from 25-year aftermarket contracts contributing to compounding growth.
Chart Industries synergies
Strategic benefits from the Chart Industries deal expected to enhance earnings and valuation multiples.
Major offshore contracts
Multi-year extensions with Equinor and Petrobras expand integrated drilling and well services in key basins.
Advanced technology adoption
Deployment of Kantori, TRU-ARMS, and PRIME Technology Platform driving operational efficiency and competitive advantage.
Rising U.S. rig counts
Increased drilling activity in the U.S. supporting demand for Baker Hughes' services and equipment.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
BKR Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$58.41
52W Range Position
64%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$37.38
+56.3% from the low
52-Week High
$70.41
-17.0% from the high
1 Month
-11.77%
3 Month
+1.62%
YTD
+23.9%
1 Year
+49.8%
3Y CAGR
+25.1%
5Y CAGR
+20.8%
10Y CAGR
+6.2%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
BKR vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
24.5x
vs 19.9x median
+23% above peer median
Revenue Growth
+2.5%
vs +5.7% median
-56% below peer median
Net Margin
11.2%
vs 6.9% median
+61% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
BKR BKR Baker Hughes Company | $57.9B | 24.5x | +2.5% | 11.2% | Buy | +25.3% |
SLB SLB SLB N.V. | $72.2B | 18.6x | +3.3% | 9.4% | Buy | +25.7% |
HAL HAL Halliburton Company | $29.2B | 14.8x | +1.2% | 6.9% | Buy | +13.5% |
WHD WHD Cactus, Inc. | $3.8B | 19.9x | +12.7% | 6.2% | Buy | +28.0% |
LBR LBRT Liberty Energy Inc. | $4.4B | 101.9x | +9.3% | 3.7% | Buy | +27.7% |
FTI FTI TechnipFMC plc | $26.1B | 22.0x | +5.7% | 10.6% | Buy | +9.2% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
BKR Dividend and Capital Return
BKR returns 2.2% total yield, led by a 1.57% dividend. Buybacks add another 0.7%.
Dividend SustainableFCF Well Covered
Total Shareholder Yield
2.2%
Dividend + buyback return per year
Buyback Yield
0.7%
Dividend Yield
1.57%
Payout Ratio
35.2%
How BKR Splits Its Return
Div 1.57%
Buyback 0.7%
Dividend 1.57%Buybacks 0.7%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.92
Growth Streak
Consecutive years of dividend increases
4Y
3Y Div CAGR
8.0%
5Y Div CAGR
5.0%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$384M
Estimated Shares Retired
7M
Approx. Share Reduction
0.7%
Shares Outstanding
Current diluted share count from the screening snapshot
992M
At 0.7%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.46 | — | — | — |
| 2025 | $0.92 | +9.5% | 0.8% | 2.9% |
| 2024 | $0.84 | +7.7% | 1.2% | 3.2% |
| 2023 | $0.78 | +6.8% | 1.6% | 3.8% |
| 2022 | $0.73 | +1.4% | 2.8% | 5.3% |
FAQ
7 questionsBKR Investor Questions
Common questions answered from live analyst data and company financials.
01Is Baker Hughes Company (BKR) stock a buy or sell in 2026?
Baker Hughes Company (BKR) is rated Buy by Wall Street analysts as of 2026. Of 45 analysts covering the stock, 30 rate it Buy or Strong Buy, 14 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $73, implying +25.3% from the current price of $58. The bear case scenario is $31 and the bull case is $65.
02What is the BKR stock price target for 2026?
The Wall Street consensus price target for BKR is $73 based on 45 analyst estimates. The high-end target is $80 (+37.0% from today), and the low-end target is $60 (+2.7%). The base case model target is $49.
03Is Baker Hughes Company (BKR) stock overvalued in 2026?
BKR trades at 24.5x times forward earnings. The stock's valuation is broadly in line with the broader market. Based on current multiples versus the peer group, the relative model signals fair versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Baker Hughes Company (BKR) stock in 2026?
The primary risks for BKR in 2026 are: (1) Market volatility sensitivity — Baker Hughes (BKR) has historically shown significant drawdowns during systemic shocks, averaging -26% compared to the S&P 500's -16%. (2) Earnings and market risks — The company disclosed 39 risk factors in its recent earnings report, indicating substantial operational and financial challenges. (3) Price target uncertainty — Projected share prices for Baker Hughes vary widely, with mid-year estimates around $113. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Baker Hughes Company's revenue and earnings forecast?
Analyst consensus estimates BKR will report consensus revenue of $28.6B (+2.5% year-over-year) and EPS of $2.70 (-13.6% year-over-year) for the upcoming fiscal year. The following year, analysts project $29.4B in revenue.
06When does Baker Hughes Company (BKR) report its next earnings?
Baker Hughes Company is expected to report its next earnings on approximately 2026-07-21. Consensus expects EPS of $0.52 and revenue of $6.5B. Over recent quarters, BKR has beaten EPS estimates 100% of the time.
07How much free cash flow does Baker Hughes Company generate?
Baker Hughes Company (BKR) generated $2.6B in free cash flow over the trailing twelve months — a free cash flow margin of 9.4%. BKR returns capital to shareholders through dividends (1.6% yield) and share repurchases ($384M TTM).