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

Baker Hughes brought in $27.7B of revenue in fiscal 2025, NOV $8.7B in fiscal 2025. Revenue changed by -0.3% at Baker Hughes and -1.4% at NOV on the year before, so Baker Hughes grew faster. Baker Hughes kept 9.3% of its revenue as net profit, NOV 1.7%. Free cash flow was $2.5B at Baker Hughes and $876M at NOV.

Side by side, latest fiscal year

BKRNOV
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$27.7B$8.7B
Revenue growth-0.3%-1.4%
Net income$2.6B$145M
Net margin9.3%1.7%
Free cash flow$2.5B$876M
Free cash flow margin9.1%10.0%
Earnings per share (diluted)n/a$0.39
Cash$3.7B$1.6B
Debt$5.4B$1.7B
Price to earningsn/a50.9
Market value$57.4B$7.1B
Dividend yieldn/a2.57%
Rank by revenue in sector#37 of 778 · Consumer discretionary#129 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: $27.7BNOV FY2018: $8.5BNOV FY2019: $8.5BNOV FY2020: $6.1BNOV FY2021: $5.5BNOV FY2022: $7.2BNOV FY2023: $8.6BNOV FY2024: $8.9BNOV FY2025: $8.7BFY18FY19FY20FY21FY22FY23FY24FY25
BKR $27.7BNOV $8.7B
Net income
BKR FY2018: $195MBKR FY2019: $128MBKR FY2020: -$9.9BBKR FY2021: -$219MBKR FY2022: -$601MBKR FY2023: $1.9BBKR FY2024: $3BBKR FY2025: $2.6BNOV FY2018: -$31MNOV FY2019: -$6.1BNOV FY2020: -$2.5BNOV FY2021: -$250MNOV FY2022: $155MNOV FY2023: $993MNOV FY2024: $635MNOV FY2025: $145MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $2.6BNOV $145M
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%NOV FY2018: -0.4%NOV FY2019: -71.9%NOV FY2020: -41.7%NOV FY2021: -4.5%NOV FY2022: 2.1%NOV FY2023: 11.6%NOV FY2024: 7.2%NOV FY2025: 1.7%FY18FY19FY20FY21FY22FY23FY24FY25
BKR 9.3%NOV 1.7%
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%NOV FY2019: +0.3%NOV FY2020: -28.2%NOV FY2021: -9.3%NOV FY2022: +31.0%NOV FY2023: +18.6%NOV FY2024: +3.3%NOV FY2025: -1.4%FY19FY20FY21FY22FY23FY24FY25
BKR -0.3%NOV -1.4%
Free cash flow
BKR FY2018: $767MBKR FY2019: $886MBKR FY2020: $330MBKR FY2021: $1.5BBKR FY2022: $899MBKR FY2023: $1.8BBKR FY2024: $2.1BBKR FY2025: $2.5BNOV FY2018: $277MNOV FY2019: $481MNOV FY2020: $700MNOV FY2021: $90MNOV FY2022: -$393MNOV FY2023: -$140MNOV FY2024: $953MNOV FY2025: $876MFY18FY19FY20FY21FY22FY23FY24FY25
BKR $2.5BNOV $876M

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

Questions about Baker Hughes and NOV

Which is bigger by revenue, Baker Hughes or NOV?

Baker Hughes is bigger by revenue: $27.7B in fiscal 2025, against $8.7B for NOV in fiscal 2025.

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

Baker Hughes had a net margin of 9.3% in fiscal 2025; NOV had 1.7% in fiscal 2025.

Which grew revenue faster, Baker Hughes or NOV?

In their latest fiscal years revenue changed by -0.3% at Baker Hughes and -1.4% at NOV.

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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