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Baker Hughes vs DNOW: revenue, profit, margins and growth compared

Baker Hughes brought in $27.7B of revenue in fiscal 2025, DNOW $2.8B in fiscal 2025. Revenue changed by -0.3% at Baker Hughes and +18.8% at DNOW on the year before, so DNOW grew faster. Baker Hughes kept 9.3% of its revenue as net profit, DNOW -3.2%. Free cash flow was $2.5B at Baker Hughes and $134M at DNOW.

Side by side, latest fiscal year

BKRDNOW
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$27.7B$2.8B
Revenue growth-0.3%+18.8%
Net income$2.6B-$89M
Net margin9.3%-3.2%
Free cash flow$2.5B$134M
Free cash flow margin9.1%4.8%
Earnings per share (diluted)n/a-$0.76
Cash$3.7B$164M
Debt$5.4B$411M
Price to earningsn/an/a
Market value$57.4B$2.9B
Dividend yieldn/an/a
Rank by revenue in sector#37 of 778 · Consumer discretionary#300 of 778 · Consumer discretionary

Over the years

Revenue
BKR FY2018: $22.9BBKR FY2019: $23.8BBKR FY2020: $20.7BBKR FY2021: $20.5BBKR FY2022: $21.2BBKR FY2023: $25.5BBKR FY2024: $27.8BBKR FY2025: $27.7BDNOW FY2018: $3.1BDNOW FY2019: $3BDNOW FY2020: $1.6BDNOW FY2021: $1.6BDNOW FY2022: $2.1BDNOW FY2023: $2.3BDNOW FY2024: $2.4BDNOW FY2025: $2.8BFY18FY19FY20FY21FY22FY23FY24FY25
BKR $27.7BDNOW $2.8B
Net income
BKR FY2018: $195MBKR FY2019: $128MBKR FY2020: -$9.9BBKR FY2021: -$219MBKR FY2022: -$601MBKR FY2023: $1.9BBKR FY2024: $3BBKR FY2025: $2.6BDNOW FY2018: $52MDNOW FY2019: -$97MDNOW FY2020: -$427MDNOW FY2021: $5MDNOW FY2022: $128MDNOW FY2023: $250MDNOW FY2024: $78MDNOW FY2025: -$89MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $2.6BDNOW -$89M
Net margin
BKR FY2018: 0.9%BKR FY2019: 0.5%BKR FY2020: -48.0%BKR FY2021: -1.1%BKR FY2022: -2.8%BKR FY2023: 7.6%BKR FY2024: 10.7%BKR FY2025: 9.3%DNOW FY2018: 1.7%DNOW FY2019: -3.3%DNOW FY2020: -26.4%DNOW FY2021: 0.3%DNOW FY2022: 6.0%DNOW FY2023: 10.8%DNOW FY2024: 3.3%DNOW FY2025: -3.2%FY18FY19FY20FY21FY22FY23FY24FY25
BKR 9.3%DNOW -3.2%
Revenue growth
BKR FY2019: +4.2%BKR FY2020: -13.1%BKR FY2021: -1.0%BKR FY2022: +3.2%BKR FY2023: +20.6%BKR FY2024: +9.1%BKR FY2025: -0.3%DNOW FY2019: -5.6%DNOW FY2020: -45.1%DNOW FY2021: +0.8%DNOW FY2022: +30.9%DNOW FY2023: +8.7%DNOW FY2024: +2.2%DNOW FY2025: +18.8%FY19FY20FY21FY22FY23FY24FY25
BKR -0.3%DNOW +18.8%
Free cash flow
BKR FY2018: $767MBKR FY2019: $886MBKR FY2020: $330MBKR FY2021: $1.5BBKR FY2022: $899MBKR FY2023: $1.8BBKR FY2024: $2.1BBKR FY2025: $2.5BDNOW FY2018: $62MDNOW FY2019: $212MDNOW FY2020: $181MDNOW FY2021: $25MDNOW FY2022: -$9MDNOW FY2023: $171MDNOW FY2024: $289MDNOW FY2025: $134MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $2.5BDNOW $134M

Fiscal years as each company reports them; the two may end in different months.

Questions about Baker Hughes and DNOW

Which is bigger by revenue, Baker Hughes or DNOW?

Baker Hughes is bigger by revenue: $27.7B in fiscal 2025, against $2.8B for DNOW in fiscal 2025.

Which keeps more of its revenue as profit, Baker Hughes or DNOW?

Baker Hughes had a net margin of 9.3% in fiscal 2025; DNOW had -3.2% in fiscal 2025.

Which grew revenue faster, Baker Hughes or DNOW?

In their latest fiscal years revenue changed by -0.3% at Baker Hughes and +18.8% at DNOW.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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