Baker Hughes's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Baker Hughes (BKR) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Baker Hughes vs Its Competitors
- TTM: Trailing 12-month revenue of 29,008M vs 196,429M combined for its competitors (12.9% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+10.7% annualized vs trailing 12 months), vs accelerating (+4.4%) for its tracked peer group.
- Growth: Baker Hughes generated 14.5% revenue growth year over year in Q3 2026, vs 7.9% for its competitors combined.
- Profitability: Its 5.1% net margin compares with 9.4% for the peer group.
- Scale: Baker Hughes ranks #4 of 57 companies by market capitalization in the Miscellaneous Fabricated Products industry, holding 9.9% of industry market cap.
- Peer revenue share: Baker Hughes accounted for 13.5% of combined revenue among its tracked peer group, up from 12.9% a year earlier.
- Peer differentiation: Revenue per employee of $0.52M compares with $0.47M for the peer group (1.1x).
- Structure: Baker Hughes operates in the following segments: Oilfield Services and Equipment, Industrial And Energy Technology, Chart.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BKR Sales vs. its Competitors, Q3 2026
Baker Hughes reported revenue growth of 14.48 % year on year in Q3 2026, above its competitors' combined revenue growth of 7.90 %.
With a net margin of 5.12 %, Baker Hughes reported lower profitability than its competitors (9.41 %).
Baker Hughes generated 13.54 % of the combined sales of its peer group, up from 12.86 % a year earlier.
API endpoints for this dataset
Baker Hughes vs. its Competitors, Q3 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Baker Hughes reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Baker Hughes and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Baker Hughes Company | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (11) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Baker Hughes's competitor groups requires a Commercial License.
For context: the Miscellaneous Fabricated Products industry grew revenue 19.0% year over year, combined, vs 14.5% for Baker Hughes. Baker Hughes's share of combined industry revenue moved from 11.26% to 10.84%, a loss of 0.43 percentage points.
Baker Hughes's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Baker Hughes Company | Yes | Yes | No | No |
| Competitors combined (41) | ||||
| High-Confidence Competitors (19) | ||||
| Similar-Size Competitors (8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BKR Stock Performance relative to its Competitors
BKR Stock Performance relative to High-Confidence Competitors
BKR Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Nine Energy Service Inc | 282.9% | Outperformed |
| 2 | Forum Energy Technologies Inc | 282.9% | Outperformed |
| 3 | Matson inc | 282.9% | Outperformed |
| 4 | Patterson uti Energy Inc | 282.9% | Outperformed |
| 5 | Helix Energy Solutions Group inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Baker Hughes's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Baker Hughes's Comment on Competition and Industry Peers
Publicly Traded Peers of Baker Hughes Company
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Baker Hughes Company |
- | 29,008.00 |
 General Electric Company |
346,090.86 | 52,575.00 |
 Slb Limited |
74,281.14 | 36,886.00 |
 Dover Corp |
27,878.61 | 8,576.81 |
 Halliburton Company |
26,083.20 | 22,476.00 |
 Technipfmc Plc |
25,357.38 | 10,668.60 |
| SUBTOTAL | 638,382.91 | 282,857.73 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Baker Hughes Company versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Baker Hughes's Competitors Named by the Company
Competitive relationships identified from Baker Hughes reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Weatherford | Company report | 85% |
| ChampionX | Company report | 85% |
| Oil States International Inc | Company report | 85% |
| Flowserve | Company report | 85% |
| Cactus inc | Company report | 85% |
| Ncs Multistage Holdings Inc | Company report | 85% |
| Superior Drilling Products Inc | Company report | 85% |
| Npk International Inc | Company report | 85% |
| TechnipFMC | Company report | 85% |
| Halliburton | Company report | 85% |
| Solar (a Caterpillar company) | Company report | 85% |
| Forum Energy Technologies Inc | Company report | 85% |
| Siemens Energy | Company report | 85% |
| Sulzer | Company report | 85% |
| Helix Energy Solutions Group inc | Company report | 85% |
| NOV | Company report | 85% |
| SLB | Company report | 85% |
| Drilling Tools International Corporation | Company report | 85% |
| Emerson | Company report | 85% |
| Mitsubishi Heavy Industry | Company report | 85% |
| Chart | Company report | 85% |
| Metso Outotec | Company report | 85% |
| Olympus | Company report | 85% |
| EthosEnergy | Company report | 85% |
| MAN Energy Solutions | Company report | 85% |
| MTU | Company report | 85% |
| Aker Solutions | Company report | 85% |
| Honeywell Process Solutions | Company report | 85% |
| Mitsubishi Heavy Industries | Company report | 85% |
| Masaood John Brown | Company report | 85% |
| IMI | Company report | 85% |
| Schneider Electric | Company report | 85% |
| ABB | Company report | 85% |
| Chromalloy | Company report | 85% |
| Dril-Quip Inc. | Company report | 85% |
| Schlumberger | Company report | 85% |
| NR | Company report | 85% |
| Aker Solutions ASA | Company report | 85% |
| Rpc inc | Company report | 85% |
| Tesco Corp | Company report | 85% |
| Superior Energy Services Inc | Company report | 85% |
| General Electric Company | Company report | 85% |
| Nuverra Environmental Solutions, Inc. | Company report | 85% |
| Koil Energy Solutions Inc | Company report | 85% |
| Valaris Limited | Company report | 85% |
| Transocean ltd | Company report | 85% |
| Jacobs Solutions Inc | Company report | 85% |
| Propetro Holding Corp | Company report | 85% |
| Dawson Geophysical Company | Company report | 85% |
| National Energy Services Reunited Corp | Company report | 85% |
| Slb Limited | Company report | 85% |
| Nine Energy Service Inc | Company report | 85% |
| Klx Energy Services Holdings Inc | Company report | 85% |
| Oceaneering International Inc | Company report | 85% |
| Nov Inc | Company report | 85% |
| Nabors Industries Ltd | Company report | 85% |
| Tetra Technologies Inc | Company report | 85% |
| Helmerich and Payne inc | Company report | 85% |
| Core Laboratories Inc | Company report | 85% |
| Patterson uti Energy Inc | Company report | 85% |
| Liberty Energy Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Baker Hughes's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Baker Hughes's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Baker Hughes Company | Oilfield Services and Equipment 45.61 % |
| General Electric Company | Commercial Engines and Services, Reportable 73.25 % |
| Slb Limited | Production Systems 42.33 % |
| Dover Corp | Clean Energy & Fueling 27.13 % |
| Halliburton Company | Completion and Production 54.16 % |
| Technipfmc Plc | Subsea 89.79 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Baker Hughes's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Baker Hughes Company | - | 518,000 | 50,946 |
| General Electric Company | 346,091 | 922,368 | 159,930 |
| Slb Limited | 74,281 | 338,404 | 28,541 |
| Dover Corp | 27,879 | 357,367 | 75,230 |
| Halliburton Company | 26,083 | 468,250 | 41,750 |
| Technipfmc Plc | 25,357 | 419,908 | 50,577 |
| PEERS TOTAL | 638,383 | 465,455 | 38,275 |
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Baker Hughes's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Slb Limited | Middle East 29.71 % |
| Dover Corp | United States 56.96 % |
| Halliburton Company | North America 37.87 % |
| Jacobs Solutions Inc | United States 68.89 % |
| Flowserve Corp | North America 43.91 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
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Baker Hughes's Position in Industry Market Structure
Market-capitalization share and concentration across all 54 companies in Baker Hughes's industry classification, broader than the peer set above. Market cap in millions of $.Baker Hughes ranks #4 of 54 companies by market capitalization in its industry, holding 9.90 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,263, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Parker hannifin Corporation | 117,569 | 24.32 % |
| 2 | Howmet Aerospace Inc | 82,732 | 17.12 % |
| 3 | Barrick Mining Corp | 69,236 | 14.32 % |
| 4 | Baker Hughes Company | 47,870 | 9.90 % |
| 5 | Technipfmc Plc | 1,234 | 5.2% |
| 6 | Rbc Bearings Inc | 1,234 | 5.2% |
| 7 | Crane Company | 1,234 | 5.2% |
| 8 | Mueller Industries Inc | 1,234 | 5.2% |
| 9 | Watts Water Technologies Inc | 1,234 | 5.2% |
| 10 | Generac Holdings Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Baker Hughes's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-11-06.
Baker Hughes's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Parker hannifin Corporation | 117,569 | 17.26 % |
| 2 | Howmet Aerospace Inc | 82,732 | -1.12 % |
| 3 | Barrick Mining Corp | 69,236 | 20.74 % |
| 4 | Baker Hughes Company | 47,870 | -0.64 % |
| 5 | Technipfmc Plc | 1,234 | 12.3% |
| 6 | Rbc Bearings Inc | 1,234 | 12.3% |
| 7 | Crane Company | 1,234 | 12.3% |
| 8 | Mueller Industries Inc | 1,234 | 12.3% |
| 9 | Watts Water Technologies Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Baker Hughes's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-06. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Baker Hughes's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Fabricated Products industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (77 companies). See the full Miscellaneous Fabricated Products industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 34.80 % | 24.48 % (avg) | +10.3 pp |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 18.77 % | 10.22 % (avg) | +8.5 pp |
| Capital Intensity (Capex / Revenue) | 5.44 % | 9.24 % (avg) | -3.8 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Baker Hughes's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | - | - | -13.14 % | -0.98 % | 3.19 % | 20.56 % | 9.11 % | -0.34 % |
| Operating Margin | 5.55 % | 4.51 % | -77.17 % | 6.39 % | 5.60 % | 9.08 % | 11.07 % | 36.57 % |
| Return on Invested Capital | - | 1.13 % | -31.42 % | 2.79 % | 3.04 % | 6.11 % | 7.79 % | 23.41 % |
| P/E | 81.9x | 107.6x | - | - | - | 17.9x | 13.5x | 18.3x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Baker Hughes's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Baker Hughes falls in the Dog quadrant: relative market share of 0.41x vs its largest competitor, in an industry growing revenue 5.3% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Baker Hughes's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,263 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 5.44 % vs industry average 9.24 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Baker Hughes's dedicated Suppliers and Customers pages, not here.
Baker Hughes's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Baker Hughes falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Baker Hughes's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+10.7% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.41x).
Opportunities
No rule matched.
Threats
No rule matched.
Methodology: see Methodology: SWOT Analysis.
Baker Hughes's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Baker Hughes Company | - | 1.51 | 0.60 |
| General Electric Company | - | 0.90 | 1.09 |
| Slb Limited | 0.19 | 1.37 | 0.38 |
| Dover Corp | - | 1.89 | 0.48 |
| Halliburton Company | 0.35 | 2.04 | 0.66 |
| Technipfmc Plc | 0.20 | 1.10 | 0.14 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Baker Hughes's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Baker Hughes Company | Q3 2026 | +16.1 % | -42.2 % |
| General Electric Company | Q3 2026 | +15.9 % | +6.2 % |
| Slb Limited | Q3 2026 | +5.8 % | -5.0 % |
| Dover Corp | Q3 2026 | +7.5 % | -51.6 % |
| Halliburton Company | Q3 2026 | +1.8 % | +1,985.0 % |
| Technipfmc Plc | Q3 2026 | +9.4 % | +34.6 % |
| PEERS TOTAL | +9.5 % | -9.1 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Baker Hughes's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Baker Hughes Company | Q3 2026 | +406.2 % | +89.7 % |
| General Electric Company | Q3 2026 | +450.6 % | +9.4 % |
| Slb Limited | Q3 2026 | +93.4 % | +15.0 % |
| Dover Corp | Q3 2026 | +6.9 % | +2.3 % |
| Halliburton Company | Q3 2026 | - | +1.9 % |
| Technipfmc Plc | Q3 2026 | +71.7 % | -21.1 % |
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Baker Hughes's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Baker Hughes Company | 6.00% | 8.80% | 14.75% |
| General Electric Company | 7.10% | 10.18% | 50.08% |
| Slb Limited | 5.63% | 7.16% | 11.40% |
| Dover Corp | 13.30% | 16.39% | 23.89% |
| Halliburton Company | 7.85% | 9.85% | 18.41% |
| Technipfmc Plc | 12.53% | 24.79% | 38.38% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Baker Hughes's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Baker Hughes Company | 15.31 | - |
| General Electric Company | 38.43 | 6.58 |
| Slb Limited | 23.86 | 2.01 |
| Dover Corp | 33.88 | 3.25 |
| Halliburton Company | 13.17 | 1.16 |
| Technipfmc Plc | 20.15 | 2.38 |
| PEERS AVERAGE | 26.90 | 2.26 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.