Baker Hughes has beaten earnings estimates four quarters in a row, converts cash well and has 13.8% upside to the analyst target, but revenue is declining, there is no moat and momentum is weak ahead of earnings in 3 days.
Thesis pillars
- Perfect Earnings Beat Streak→Stable
- Analyst Target Upside↑Improving
- Excellent Cash Conversion→Stable
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Oct 24, 2026, based on the 10-K filed Feb 5, 2026
Baker Hughes Company (BKR) Stock Analysis
Energy · Oil & Gas Equipment & Services
Hold if already holding. Not a fresh buy at $54.66, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GE Vernova and GE Aerospace; V7 low-quality RISK_OFF penalty: -0.5 (Q=5.0).
Baker Hughes is an energy technology company operating in more than 120 countries across two segments — Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) — spanning oil and gas, LNG, power generation and emerging low-carbon solutions such as CCUS,... Read more
Hold if already holding. Not a fresh buy at $54.66, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GE Vernova and GE Aerospace; V7 low-quality RISK_OFF penalty: -0.5 (Q=5.0). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 5.5/10, moderate confidence.
Passes 7/8 gates (positive momentum, favorable risk/reward ratio, clean insider activity, news boost analyst 0.60, earnings proximity 88d clear, semi cycle peak clear, materials cycle peak clear). Suitability: moderate.
About Baker Hughes Company
About Baker Hughes Company
Baker Hughes booked $29.6 billion of orders in 2025 — $14.7 billion from Oilfield Services & Equipment (OFSE) and $14.9 billion from Industrial & Energy Technology (IET) — leaving a remaining performance obligation backlog of $35.9 billion at year-end, of which $32.4 billion sat in IET. The company operates in more than 120 countries and spent $600 million on R&D in 2025, receiving over 1,400 patents worldwide.
Baker Hughes earns revenue under fixed-fee or turnkey contracts, transactional product and service agreements, frame and master service agreements, integrated project and alliance models, and subscription or license arrangements for its digital and analytics offerings. OFSE — competing against SLB, Halliburton, NOV, Weatherford and TechnipFMC — designs and services products across the full oilfield life cycle from drilling through decommissioning, generally on a well-by-well basis even under multi-year framework contracts. IET — competing against Siemens Energy, Solar (a Caterpillar company), Mitsubishi Heavy Industry, Sulzer, Flowserve and Emerson — sells gas turbines, compression equipment, industrial products and Climate Technology Solutions such as CCUS and hydrogen systems to LNG plants, pipelines, utilities and data centers. Many oil-and-gas contracts use a knock-for-knock indemnity structure in which each party covers claims tied to its own personnel and equipment, while the company's pending $210-per-share cash acquisition of Chart Industries would add cryogenic and gas-handling equipment to its industrial portfolio.
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Baker Hughes' new-energy strategy carries a disclosed pacing risk: the 10-K acknowledges that the transition to a lower-carbon economy has become more uncertain and variable by region, with signs of a slowdown that could leave Climate Technology Solutions such as CCUS, hydrogen and geothermal undersupported by demand even as the company continues investing in them. That transition-timing risk now compounds with integration risk from the pending Chart Industries acquisition — a $210-per-share, roughly $3.18-billion-revenue cryogenic-equipment deal announced July 29, 2025 and approved by Chart shareholders on October 6, 2025 — which the filing says remains subject to regulatory clearances still underway in certain jurisdictions, with closing expected in the second quarter of 2026.
See also: Energy · Oil & Gas Equipment & Services
From Baker Hughes Company's most recent 10-K filing, extracted July 3, 2026.
Recent developments
updated 2026-10-29Recent Developments — Baker Hughes Company
Latest news
- NEWS Baker Hughes Co. stock outperforms competitors despite losses on the day - marketwatch.com — marketwatch.com positive
- NEWS UBS lowers Baker Hughes stock price target to $69 on revenue outlook - Investing.com — Investing.com negative
- NEWS Baker Hughes (NASDAQ:BKR) Stock Price Target Cut by UBS Group - MarketBeat — MarketBeat negative
- NEWS Baker Hughes (NASDAQ:BKR) Stock Rating Upgraded by The Goldman Sachs Group - MarketBeat — MarketBeat positive
- NEWS BMO Capital Sticks to Their Buy Rating for Baker Hughes Company (BKR) - The Globe and Mail — The Globe and Mail neutral
Generated 2026-10-29T12:43:33Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHSupplierGE Vernova and GE Aerospace10-K Item 1A: 'The partial or complete loss of GE Vernova or GE Aerospace as suppliers ... may adversely affect our business, financial condition, results of operations and cash flows.'
Material Events(8-K, last 90d)
- 2026-05-19Item 5.02LOWAt Baker Hughes' May 19, 2026 annual meeting, stockholders elected directors and approved governance matters cross-referenced under Item 5.07. The fetched excerpt was truncated before naming the specific approvals; no executive departure was indicated.SEC filing →
- 2026-05-19Item 5.07LOWAt Baker Hughes' 2026 Annual Meeting of Stockholders held May 19, 2026, stockholders voted on matters submitted for approval, cross-referenced in the company's Item 5.02 disclosure. Detailed vote tallies were not included in the fetched excerpt.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Revenue shrinking — -2.4% YoY. Growth thesis broken unless recovery story develops.static
Price Targets
Position Sizing
Analyst Consensus
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $54.66, but acceptable to hold if already in. Reasons: Concentration risk — Supplier: GE Vernova and GE Aerospace; V7 low-quality RISK_OFF penalty: -0.5 (Q=5.0). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Analyst target $63.71 (+16.6%), stop $51.01 (−7.2%), A.R:R 2.3:1. Score 5.5/10, moderate confidence.
Analyst target: $63.71 (+16.6% upside). Analyst target $63.71 (+16.6%), stop $51.01 (−7.2%), A.R:R 2.3:1. Stop-loss: $51.01.
Concentration risk — Supplier: GE Vernova and GE Aerospace; V7 low-quality RISK_OFF penalty: -0.5 (Q=5.0); Weak growth.
Baker Hughes Company trades at a P/E of 18.8 (forward 18.7). TrendMatrix value score: 6.6/10. Verdict: Hold.
30 analysts cover BKR with a consensus score of 4.0/5. Average price target: $71.
What does Baker Hughes Company do?Baker Hughes is an energy technology company operating in more than 120 countries across two segments — Oilfield...
Baker Hughes is an energy technology company operating in more than 120 countries across two segments — Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) — spanning oil and gas, LNG, power generation and emerging low-carbon solutions such as CCUS, hydrogen and geothermal. The company recognized $29.6 billion of orders in 2025 (OFSE $14.7 billion, IET $14.9 billion) against a remaining performance obligation backlog of $35.9 billion, invested $600 million in R&D, and has agreed to acquire Chart Industries for $210 per share in cash.