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- Baker Hughes reported Q3 2025 revenue of $7.01 billion, up ~1.5% year over year (YoY) and ~1.5% quarter over quarter (QoQ), driven by continued demand in oilfield services and a favorable mix across business segments. Gross profit was $1.701 billion with a gross margin of 24.3%, delivering a meaningful YoY gross-margin expansion versus Q3 2024 (~22.3%). Operating income reached $0.948 billion (operating margin ~13.5%), up modestly YoY and meaningfully QoQ despite a swing in other income items.
Key Performance Indicators
7.01B
QoQ: 1.45% | YoY: 1.48%
1.70B
24.27% margin
QoQ: 5.33% | YoY: 10.31%
948.00M
QoQ: 6.88% | YoY: 1.94%
609.00M
QoQ: -13.12% | YoY: -20.50%
0.62
QoQ: -12.68% | YoY: -19.48%
- Revenue: $7.010B; YoY +1.48%; QoQ +1.45%
- Gross Profit: $1.701B; Margin 24.27%; YoY +10.3%; QoQ +5.3%
- Operating Income: $0.948B; Margin 13.52%; YoY +1.94%; QoQ +6.88%
- Net Income: $0.609B; Margin 8.69%; YoY -20.5%; QoQ -13.12%
- EPS (diluted): $0.61; Basic: $0.62; YoY -19.5%; QoQ -12.7%
- EBITDA: $1.159B; EBITDA Margin ~16.5%
- Cash Flow: OCF per share $0.942; FCF per share $0.643; Cash per share $2.73
- Balance Sheet: Debt ratio 0.154; Debt-to-capitalization 0.248; Interest coverage 16.93x; DSO ~84 days; CCC ~98 days
- Valuation (approx): P/E ~19.7x; P/B ~2.6x; P/FCF ~75.8x; Dividend yield ~0.47%
Metric
Value
YoY Change
QoQ Change
Revenue
7.01B
1.48%
1.45%
Gross Profit
1.70B
10.31%
5.33%
Operating Income
948.00M
1.94%
6.88%
Net Income
609.00M
-20.50%
-13.12%
EPS
0.62
-19.48%
-12.68%
Key Financial Ratios
24.30%
Gross profit margin is moderate, room for improvement in cost management
13.50%
Operating margin is moderate, room for improvement in cost management
8.69%
Net profit margin is moderate, room for improvement in cost management
1.55%
Return on assets suggests inefficient capital allocation
3.32%
Return on equity suggests inefficient capital allocation
1.41
Current ratio meets minimum requirements but limited cushion
0.33
Debt-to-equity indicates balanced capital structure with manageable debt
19.72x
P/E ratio in line with market averages
2.62x
Price-to-book ratio reasonable for profitable companies
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