--- title: "Baker Hughes: Metrics Guide" description: "Baker Hughes revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/baker-hughes/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # Baker Hughes: Financial & Operating Metrics Guide ## Direct Answer Baker Hughes reported revenue of $27.7 billion for the fiscal year ended December 31, 2025, net income of $2.6 billion, according to its SEC filings. Revenue fell 0.3% from the prior year. ## What Are Baker Hughes's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $27.7 billion | $27.8 billion | $25.5 billion | $21.2 billion | | Operating income | Not reported | $3.1 billion | $2.3 billion | $1.2 billion | | Operating margin | n/a | 11.1% | 9.1% | 5.6% | | Net income | $2.6 billion | $3.0 billion | $1.9 billion | -$601 million | | Net margin | 9.3% | 10.7% | 7.6% | -2.8% | | Operating cash flow | $3.8 billion | $3.3 billion | $3.1 billion | $1.9 billion | | Capital expenditures | $1.3 billion | $1.3 billion | $1.2 billion | $989 million | | Free cash flow | $2.5 billion | $2.1 billion | $1.8 billion | $899 million | Free cash flow (operating cash flow minus capital expenditures) was $2.5 billion against net income of $2.6 billion; cash generation fell short of reported earnings, which is worth reconciling in the cash flow statement. ![Bar chart of Baker Hughes revenue, operating income, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $27.7 billion and net income $2.6 billion.](https://www.getswoopr.com/images/charts/baker-hughes-metrics-revenue-profit.webp) *Baker Hughes revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of Baker Hughes operating margin and net margin for fiscal 2022 to 2025. In fiscal 2025, operating margin was n/a and net margin was 9.3%.](https://www.getswoopr.com/images/charts/baker-hughes-metrics-margins.webp) *Baker Hughes operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of Baker Hughes operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $3.8 billion, capital expenditures was $1.3 billion, free cash flow was $2.5 billion.](https://www.getswoopr.com/images/charts/baker-hughes-metrics-cash-flow.webp) *Baker Hughes operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does Baker Hughes's Balance Sheet Show? | Cash and cash equivalents | $3.7 billion | | --- | --- | | Long-term debt | $5.4 billion | | Total assets | $40.9 billion | | Total liabilities | Not reported | | Shareholders' equity | $18.8 billion | | Current ratio | 1.4x | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value Baker Hughes reported in its own SEC filings, read from the SEC's XBRL data (accession 0001701605-26-000007 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was Baker Hughes's revenue in fiscal 2025? Baker Hughes reported revenue of $27.7 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is Baker Hughes's operating margin? Baker Hughes did not report operating income under the standard tag for fiscal 2025, so Swoopr does not compute an operating margin; the income statement in its 10-K shows how it presents profit. ### How much free cash flow did Baker Hughes generate? Operating cash flow of $3.8 billion less capital expenditures of $1.3 billion gives free cash flow of $2.5 billion for fiscal 2025. ## References - [SEC EDGAR: Baker Hughes Co Form 10-K filed February 5, 2026](https://www.sec.gov/Archives/edgar/data/1701605/000170160526000007/bkr-20251231.htm) - [SEC EDGAR: Baker Hughes Co annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1701605&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [Baker Hughes company dossier](https://www.getswoopr.com/stocks/companies/baker-hughes/) - [Baker Hughes financial metrics](https://www.getswoopr.com/stocks/companies/baker-hughes/metrics/) - [Baker Hughes financial risk indicators](https://www.getswoopr.com/stocks/companies/baker-hughes/risks/) - [Baker Hughes peer comparison](https://www.getswoopr.com/stocks/companies/baker-hughes/competitors/) - [Baker Hughes business model and revenue mix](https://www.getswoopr.com/stocks/companies/baker-hughes/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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