---
title: Baker Hughes (BKR) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/bkr
ticker: BKR
as_of: 2026-10-17
sector: Energy
industry: Oil & Gas Equipment & Services
---
# Baker Hughes (BKR)

Baker Hughes (BKR) closed at $55.70 on Oct 16, 2026, overvalued by 93% vs its model value of $28.79 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $55.70 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $28.79 |
| Price vs model | overvalued by 93% vs model |
| Range of that model | $19.33 – $55.06 |
| Market value | $55.3B |
| P/E (fiscal 2025) | — |
| Net margin (fiscal 2025) | 9.3% |
| Free cash flow (fiscal 2025) | $2.5B |
| Dividend yield (trailing twelve months) | 1.65% |
| Beta | 1.04 |
| Cost of capital (WACC) | 8.86% |
| Business classification | Cyclical (Low/slowing growth (~4% recent), Moderate margins (9% net margin), Pays dividends, Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.65% |
| Dividends per share, last 12 months | $0.92 |
| Dividends / free cash flow (fiscal 2025) | 35.9% |
| Raised | 4 years in a row |
| Growth over 5 years | 5.0% a year |
| Latest payment | $0.23, ex-date Aug 7, 2026, paid Aug 17, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Aug 9, 2021 | $0.72 |
| To Aug 8, 2022 | $0.72 |
| To Aug 7, 2023 | $0.77 |
| To Aug 6, 2024 | $0.83 |
| To Aug 5, 2025 | $0.90 |
| Trailing twelve months (to Aug 7, 2026) | $0.92 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $28.79 | $19.33 | $55.06 |
| DCF · Perpetuity growth · 10y | cross check | $32.16 | $21.90 | $60.34 |
| DCF · EBITDA exit · 5y | cross check | $30.21 | $14.76 | $48.55 |
| DCF · EBITDA exit · 10y | cross check | $33.05 | $18.14 | $53.45 |
| P/E · peers | cross check | $41.12 | $37.23 | $47.36 |
| P/E · own history | cross check | $46.04 | $40.58 | $57.42 |
| PEG | sanity check | $0.00 | $0.00 | $0.00 |
| EV/EBITDA · peers | cross check | $35.91 | $29.02 | $41.40 |
| EV/Revenue · peers | cross check | $31.08 | $28.76 | $40.26 |
| Earnings power value | cross check | $120.84 | $103.00 | $145.93 |
| Dividend discount | cross check | $19.68 | $13.91 | $30.59 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 3, 2026 | Gatti Amerino | EVP, Oilfield Services & Equip | Option/RSU exercise | 9,807 | — |
| Sep 3, 2026 | Gatti Amerino | EVP, Oilfield Services & Equip | Tax withholding | 3,860 | $245,650.4 |
| Sep 3, 2026 | Gatti Amerino | EVP, Oilfield Services & Equip | Option/RSU exercise | 9,807 | $0 |
| Jul 1, 2026 | BORRAS MARIA C | Chief Growth & Experience Ofcr | Open-market sell (10b5-1 plan) | 72,000 | $4.0M |
| Jun 22, 2026 | Simonelli Lorenzo | Chairman, President and CEO | Option/RSU exercise (10b5-1 plan) | 99,911 | $3.6M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 1, 2026 | 8-K | 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1701605/000170160526000029/bkr-20260716.htm |
| Sep 9, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1701605/000119312526385823/d539011d8k.htm |
| Jul 27, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/1701605/000170160526000023/bkr-20260630.htm |
| Jul 27, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/1701605/000170160526000021/bkr-20260726.htm |
| Jul 16, 2026 | S-8 | Employee stock plan registration | https://www.sec.gov/Archives/edgar/data/1701605/000119312526306105/d169192ds8.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Dodge & Cox | 2026-06-30 | 34,854,482 | $1.9B |
| Bridgewater | 2026-06-30 | 1,220,482 | $67.7M |
| First Eagle | 2026-06-30 | 22,000 | $1.2M |

3 tracked managers in all.

## About

Baker Hughes Co. is a holding company, which engages in the provision of oilfield products, services, and digital solutions. It operates through the Oilfield Services and Equipment (OFSE) and industrial and Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides services for onshore and offshore oilfield operations. The IET segment combines expertise, technologies, and services for industrial and energy customers including on and off-shore, LNG, pipeline and gas storage, refining, petrochemical, distributed gas, flow and process control, and industrial segments such as nuclear, aviation, automotive, marine, food and beverage, mining, cement and utilities. The company was founded in April 1987 and is headquartered in Houston, TX.

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Source: https://sweetvaluelab.com/stocks/bkr (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.