Direct Answer
Baker Hughes reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Oilfield Services and Equipment is the largest, with $14.3 billion of revenue (52% of the total), followed by Industrial and Energy Technology at $13.4 billion (48%). 28% of revenue came from the United States.
How Does Baker Hughes Make Money?
No single line supplies a majority of revenue: the largest, Oilfield Services and Equipment, is 52%, which spreads Baker Hughes's exposure across several demand drivers. Between fiscal 2024 and 2025, Industrial and Energy Technology grew fastest (+9.9%) and Oilfield Services and Equipment slowest (-8.3%), so the revenue mix tilts toward Industrial and Energy Technology while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Oilfield Services and Equipment | $14.3 billion | $15.6 billion | 51.6% | -8.3% |
| Industrial and Energy Technology | $13.4 billion | $12.2 billion | 48.4% | 9.9% |
What Does Baker Hughes Sell?
Baker Hughes also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.
| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Product | $18.2 billion | $17.8 billion | 65.7% | 2.3% |
| Service | $9.5 billion | $10.0 billion | 34.3% | -5.0% |
Where Does Baker Hughes's Revenue Come From?
Regions follow the definitions in the filing; most companies assign revenue by customer location.
| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Outside the United States | $20.0 billion | $20.4 billion | 72.2% | -2.0% |
| United States | $7.7 billion | $7.4 billion | 27.8% | 4.3% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Baker Hughes's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Baker Hughes reported in the segment note and revenue disclosures of its Form 10-K filed February 5, 2026 (accession 0001701605-26-000007), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Baker Hughes's business segments?
In its fiscal 2025 Form 10-K, Baker Hughes reports revenue for Oilfield Services and Equipment and Industrial and Energy Technology.
Which part of Baker Hughes brings in the most revenue?
Oilfield Services and Equipment, with $14.3 billion of revenue in fiscal 2025, or 52% of the total.
How much of Baker Hughes's revenue comes from outside the United States?
72% in fiscal 2025, by the geographic breakdown Baker Hughes reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.