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Baker Hughes vs Forum Energy Technologies: revenue, profit, margins and growth compared

Baker Hughes brought in $27.7B of revenue in fiscal 2025, Forum Energy Technologies $791.5M in fiscal 2025. Revenue changed by -0.3% at Baker Hughes and -3.1% at Forum Energy Technologies on the year before, so Baker Hughes grew faster. Baker Hughes kept 9.3% of its revenue as net profit, Forum Energy Technologies -1.2%. Free cash flow was $2.5B at Baker Hughes and $64.4M at Forum Energy Technologies.

Side by side, latest fiscal year

BKRFET
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$27.7B$791.5M
Revenue growth-0.3%-3.1%
Net income$2.6B-$9.7M
Net margin9.3%-1.2%
Free cash flow$2.5B$64.4M
Free cash flow margin9.1%8.1%
Earnings per share (diluted)n/a-$0.81
Cash$3.7B$34.7M
Debt$5.4B$135.9M
Price to earningsn/an/a
Market value$57.4B$931.5M
Dividend yieldn/an/a
Rank by revenue in sector#37 of 778 · Consumer discretionary#496 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: $27.7BFET FY2018: $1.1BFET FY2019: $956.5MFET FY2020: $512.5MFET FY2021: $541.1MFET FY2022: $699.9MFET FY2023: $738.9MFET FY2024: $816.4MFET FY2025: $791.5MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $27.7BFET $791.5M
Net income
BKR FY2018: $195MBKR FY2019: $128MBKR FY2020: -$9.9BBKR FY2021: -$219MBKR FY2022: -$601MBKR FY2023: $1.9BBKR FY2024: $3BBKR FY2025: $2.6BFET FY2018: -$374.1MFET FY2019: -$567.1MFET FY2020: -$96.9MFET FY2021: -$82.7MFET FY2022: $3.7MFET FY2023: -$18.9MFET FY2024: -$135.3MFET FY2025: -$9.7MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $2.6BFET -$9.7M
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%FET FY2018: -35.2%FET FY2019: -59.3%FET FY2020: -18.9%FET FY2021: -15.3%FET FY2022: 0.5%FET FY2023: -2.6%FET FY2024: -16.6%FET FY2025: -1.2%FY18FY19FY20FY21FY22FY23FY24FY25
BKR 9.3%FET -1.2%
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%FET FY2019: -10.1%FET FY2020: -46.4%FET FY2021: +5.6%FET FY2022: +29.4%FET FY2023: +5.6%FET FY2024: +10.5%FET FY2025: -3.1%FY19FY20FY21FY22FY23FY24FY25
BKR -0.3%FET -3.1%
Free cash flow
BKR FY2018: $767MBKR FY2019: $886MBKR FY2020: $330MBKR FY2021: $1.5BBKR FY2022: $899MBKR FY2023: $1.8BBKR FY2024: $2.1BBKR FY2025: $2.5BFET FY2018: -$21.6MFET FY2019: $89MFET FY2020: $1.6MFET FY2021: -$18.2MFET FY2022: -$24.5MFET FY2023: $239KFET FY2024: $84MFET FY2025: $64.4MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $2.5BFET $64.4M

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

Questions about Baker Hughes and Forum Energy Technologies

Which is bigger by revenue, Baker Hughes or Forum Energy Technologies?

Baker Hughes is bigger by revenue: $27.7B in fiscal 2025, against $791.5M for Forum Energy Technologies in fiscal 2025.

Which keeps more of its revenue as profit, Baker Hughes or Forum Energy Technologies?

Baker Hughes had a net margin of 9.3% in fiscal 2025; Forum Energy Technologies had -1.2% in fiscal 2025.

Which grew revenue faster, Baker Hughes or Forum Energy Technologies?

In their latest fiscal years revenue changed by -0.3% at Baker Hughes and -3.1% at Forum Energy Technologies.

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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