Income StatementBalance SheetCash FlowSegments
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Baker Hughes Business Segments

Business, geographic, and product segment breakdowns

Baker Hughes generates $27.9B in annual revenue across 1 key segments: Oilfield Services & Equipment ($14.1B). The company-wide operating margin is 11.05%. Based on the Q1 2026 filing.

Oilfield Services & Equipment (TTM)$14.1B
Latest FilingQ1 2026
Report Date2026-04-24
Market Cap$63.4B
P/E Ratio20.34
ROE17.14%

Products & Services

Progress collections and deferred income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Progress Collections$5.6B$5.5B$5.5B$5.4B$5.8B$5.9B
Deferred Income$122.0M$133.0M$131.0M$136.0M$148.0M$132.0M

Long-term product service and equipment contracts and other service agreements

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Long-term equipment contracts and other service agreements$5.0B———$5.2B$5.3B
Long-term product service agreements$503.0M———$507.0M$518.0M

Contract assets (total revenue in excess of billings)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Longterm Product Service Agreement$346.0M$343.0M$350.0M$345.0M$330.0M$1.2B

Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service$1.8B$1.6B$1.7B$1.7B$1.8B$1.7B

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Service$2.5B$2.3B$2.4B$2.4B$2.4B$2.2B

Geographic

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property, plant and equipment, less accumulated depreciation$3.3B———$3.7B—

Business Segments

Add: Depreciation and amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment$230.0M$226.0M$233.0M$221.0M$252.0M$278.0M

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment$18.8B$18.5B$18.4B$18.2B$18.7B$18.6B

CapEx

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment$252.0M$201.0M$213.0M$213.0M$260.0M$218.0M
Industrial & Energy Technology$87.0M$85.0M$69.0M$67.0M$104.0M$104.0M

Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment-$21.8B$2.8B$2.9B$2.9B$2.9B$2.7B
Industrial & Energy Technology-$15.0B$2.1B$2.4B$2.4B$2.7B$2.4B

Currency exchange and other

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment$1.5M$2.3M$2.3M$2.3M$2.3M$4.0M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment$1.5B——$1.6B$1.6B$1.6B

Number of product lines

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial & Energy Technology—————5.00
Oilfield Services & Equipment—————4.00

Other Income (Expense)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial & Energy Technology——$4.0M$0.0—$4.0M
Oilfield Services & Equipment——$1.0M-$1.0M—-$1.0M

Research and development costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial & Energy Technology-$473.0M-$84.0M$96.0M$86.0M$261.0M$79.0M
Oilfield Services & Equipment-$322.0M-$61.0M$65.0M$60.0M$177.0M$54.0M

Restructuring and impairment charges

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment—$0.0———$11.0M

Segment EBITDA

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial & Energy Technology$639.0M$501.0M$585.0M$635.0M$761.0M$678.0M
Oilfield Services & Equipment$756.0M$623.0M$677.0M$671.0M$647.0M$565.0M

Selling, General and Administrative Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Industrial & Energy Technology-$2.2B$284.0M$283.0M$309.0M$339.0M$284.0M
Oilfield Services & Equipment-$1.7B$221.0M$219.0M$220.0M$216.0M$204.0M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oilfield Services & Equipment$3.9B$3.5B$3.6B$3.6B$3.6B$3.2B