Baker Hughes
BKR · Oil & Gas Equipment & Services
$55.86
4.2%Halliburton
HAL · Oil & Gas Equipment & Services
$34.92
5.2%The short version
- Baker Hughes is the larger business, with $27.7B of revenue in fiscal 2025 against $22.2B for Halliburton.
- Baker Hughes grew revenue faster (−0.3%, against −3.3%).
- Baker Hughes turned more of its sales into free cash flow (9.2% FCF margin, against 7.5% FCF margin).
- Baker Hughes earned a higher return on the capital invested in it (14.1%, against 10.5%).
| Latest fiscal year | BKR · FY25 | HAL · FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $29.1B |
| Revenue | $27.7B | $22.2B |
| Free cash flow | $2.5B | $1.7B |
| Net income | $2.6B | $1.3B |
| Growth | ||
| Revenue growth | −0.3% | −3.3% |
| 5-year growth | 6.0% | 9.0% |
| Share count change | — | −3.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | 10.2% |
| Net margin | 9.3% | 5.8% |
| FCF margin | 9.2% | 7.5% |
| Return on capital | 14.1% | 10.5% |
| Return on equity | 14.5% | 12.2% |
| Balance sheet | ||
| Net debt | $2.4B | $5.1B |
| Net debt / EBITDA | 0.5x | 1.5x |
| Dividends and buybacks | $1.3B | $1.6B |
| Valuation & quality | ||
| P/E | — | 23.3x |
| Piotroski F-score | — | 5 |
FY16
BKR $13.1B
HAL $15.9B
FY17
BKR $17.2B
HAL $20.6B
FY18
BKR $22.9B
HAL $24.0B
FY19
BKR $23.8B
HAL $22.4B
FY20
BKR $20.7B
HAL $14.4B
FY21
BKR $20.5B
HAL $15.3B
FY22
BKR $21.2B
HAL $20.3B
FY23
BKR $25.5B
HAL $23.0B
FY24
BKR $27.8B
HAL $22.9B
FY25
BKR $27.7B
HAL $22.2B
BKR
HAL
FY16
BKR 3.5%
HAL −42.6%
FY17
BKR −1.7%
HAL 6.7%
FY18
BKR 3.1%
HAL 10.3%
FY19
BKR 4.5%
HAL −2.0%
FY20
BKR −77.2%
HAL −16.9%
FY21
BKR 6.4%
HAL 11.8%
FY22
BKR 5.6%
HAL 13.3%
FY23
BKR 9.1%
HAL 17.7%
FY24
BKR 11.1%
HAL 16.7%
FY25
BKR —
HAL 10.2%
BKR
HAL
FY16
BKR −$162M
HAL −$2.5B
FY17
BKR −$1.5B
HAL $1.1B
FY18
BKR $767M
HAL $1.1B
FY19
BKR $886M
HAL $915M
FY20
BKR $330M
HAL $1.2B
FY21
BKR $1.5B
HAL $1.1B
FY22
BKR $899M
HAL $1.2B
FY23
BKR $1.8B
HAL $2.1B
FY24
BKR $2.1B
HAL $2.4B
FY25
BKR $2.5B
HAL $1.7B
BKR
HAL
FY16
BKR —
HAL −27.7%
FY17
BKR −0.8%
HAL 4.0%
FY18
BKR 0.9%
HAL 12.9%
FY19
BKR 1.4%
HAL −2.1%
FY20
BKR −42.4%
HAL −13.5%
FY21
BKR 3.2%
HAL 14.2%
FY22
BKR 3.1%
HAL 15.4%
FY23
BKR 9.2%
HAL 22.6%
FY24
BKR 14.7%
HAL 19.4%
FY25
BKR 14.1%
HAL 10.5%
BKR
HAL
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.