Baker Hughes Co（BKR）の決算・業績分析
Baker Hughes Coの2025年有価証券報告書をAI分析。売上高$27.7B(-0.3%)。Industrials。
目次
Baker Hughes Coの2025年度 業績サマリー
Baker Hughes Co（証券コード: BKR）の2025年度決算・業績分析。売上高は$27.7B（前年比-0.3%）。純利益は$2.6B（前年比-13.1%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Baker Hughes Coの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Net income plummeted to -$601M (-174.4% YoY) despite revenue growth of $21.2B (+3.2% YoY) (XBRL).
- Operating cash flow remained robust at $1.9B, but free cash flow contracted to $324M (XBRL).
- Shareholder returns totaled $1.6B via dividends ($726M) and buybacks ($828M), despite negative net income (XBRL).
Baker Hughes Coの売上高変化の要因
- •Total revenue grew to $21.2B (+3.2% YoY), driven by IET segment growth (primarily Gas Technology Equipment) and modest OFSE revenue gains from international markets (XBRL, 10-K). Historical time series shows revenue fluctuated between $20.5B (2023) and $25.5B (2025 forecast), with a 5-year CAGR of +2.2% (XBRL).
Baker Hughes Coの営業利益変化の要因
- •Operating income declined to $1.2B (-9.5% YoY), impacted by cost inflation despite cost-out initiatives and higher volumes in Gas Technology Equipment (10-K). Net margin turned negative at -2.8% (XBRL), reflecting a -174.4% YoY drop in net income to -$601M (XBRL). Operating margin held at 5.6% (XBRL).
Baker Hughes Coの事業リスクと対応
Competitive pressures and technology development risks require continuous innovation to maintain market share (10-K).
Joint development agreements may fail to meet customer needs, risking financial losses (10-K).
Energy transition risks could reduce demand for current services if adaptation is too slow or too fast (10-K).
Regulatory changes related to climate policies may increase compliance costs (10-K).
Technology obsolescence from competitor innovation could harm profitability (10-K).
Baker Hughes Coの今後の見通し・業績予想
Baker Hughes Coの事業内容
Baker Hughes Co (BKR) is an energy technology company providing diversified solutions across the energy and industrial value chain (10-K). Its core business model revolves around selling innovative oilfield services, equipment, and new energy technologies. The company operates in two segments: Oilfield Services & Equipment (OFSE), offering upstream, midstream/LNG, and downstream solutions; and Industrial & Energy Technology (IET), specializing in industrial and energy tech services, including low-carbon technologies like CCUS and hydrogen (10-K). Key competitive advantages include a global portfolio, 1,600+ patents, and $643M in R&D investment in 2024 (10-K).
Baker Hughes CoのAI業績分析レポート（2024年度）
Baker Hughes Co (BKR) FY2024 Annual Report Analysis
Highlights
Business Overview
Baker Hughes Co (BKR) is an energy technology company providing diversified solutions across the energy and industrial value chain (10-K). Its core business model revolves around selling innovative oilfield services, equipment, and new energy technologies. The company operates in two segments: Oilfield Services & Equipment (OFSE), offering upstream, midstream/LNG, and downstream solutions; and Industrial & Energy Technology (IET), specializing in industrial and energy tech services, including low-carbon technologies like CCUS and hydrogen (10-K). Key competitive advantages include a global portfolio, 1,600+ patents, and $643M in R&D investment in 2024 (10-K).
Revenue Analysis
Total revenue grew to $21.2B (+3.2% YoY), driven by IET segment growth (primarily Gas Technology Equipment) and modest OFSE revenue gains from international markets (XBRL, 10-K). Historical time series shows revenue fluctuated between $20.5B (2023) and $25.5B (2025 forecast), with a 5-year CAGR of +2.2% (XBRL).
Profitability Analysis
Operating income declined to $1.2B (-9.5% YoY), impacted by cost inflation despite cost-out initiatives and higher volumes in Gas Technology Equipment (10-K). Net margin turned negative at -2.8% (XBRL), reflecting a -174.4% YoY drop in net income to -$601M (XBRL). Operating margin held at 5.6% (XBRL).
Balance Sheet Analysis
Equity ratio stood at 41.6% (XBRL), with total equity increasing to $15.4B (2024) from $14.4B (2023) (XBRL). Current ratio was 1.25x (XBRL). Total assets grew to $36.9B (2024) from $34.2B (2023) (XBRL). ROE and ROA were negative at -3.9% and -1.6%, respectively (XBRL).
Cash Flow Analysis
Operating cash flow remained strong at $1.9B (XBRL), while free cash flow contracted to $324M (XBRL). Investing cash flow was -$1.6B (primarily CapEx of $1.1B) (XBRL). Financing cash flow was -$1.6B, driven by dividends paid ($726M) and share repurchases ($828M) (XBRL).
Working Capital Analysis
N/A
Risks
Outlook
Management expects muted upstream spending in OFSE North America and International in 2025, but continued IET strength in LNG, FPSO, gas infrastructure, and new energy solutions (10-K). Key trends include oil price volatility, shift to natural gas, and tightness in aeroderivative supply chains (10-K).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 22.9B | 23.8B | 20.7B | 20.5B | 21.2B | 25.5B |
| Operating Income | 701M | 1.1B | -16.0B | 1.3B | 1.2B | N/A |
| Net Income | 195M | 128M | -9.9B | -219M | -601M | 1.9B |
| Total Assets | 53.4B | 38.0B | 35.3B | 34.2B | 36.9B | 38.4B |
| Total Equity | 21.9B | 12.9B | 14.8B | 14.4B | 15.4B | 16.9B |
| Operating Cash Flow | 1.8B | 2.1B | 1.3B | 2.4B | 1.9B | 3.1B |
Industrialsの企業一覧
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