Baker Hughes (BKR)

NASDAQEnergyOil & Gas Equipment & ServicesSnapshot 2026-10-15

$55.70+2.39%

Close 2026-10-16 · 1-day change

Read the published Living FV report summary

Investment OutlookAs of Oct 15, 2026

What could strengthen or challenge Baker Hughes’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

-0.9%

+10% or more+5%0%−5%−10% or less

3.02 → 2.99 EPS · FY ending Dec 31, 2027 · 9 analysts

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

Change in the same fiscal period’s mean EPS estimate from Sep 15, 2026 to Oct 15, 2026: (new ÷ prior − 1). Contributor count changed from 9 to 9; this is not the number of analysts revising. Source: FMP consensus snapshots. The ±10% axis is a display range.

Living FV™

Living Fair Value by QuarterlyIQ

A valuation that evolves as the business changes.

A published Living FV snapshot is not available yet. The valuation workflow remains discoverable; a market target cannot supply the missing evidence.

View Living FV report and workflow

What the Thesis Depends On

Three key conditions need to be met for the investment thesis to play out.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Realize synergies from Chart Industries acquisition	A supporting condition in Baker Hughes's published investment case. The stated target is synergies contribute positively to margins and revenue by end FY26.	Improving	EU scrutiny blocks acquisition or synergies fail to materialize by FY26 end	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Increase full-year orders significantly	A primary condition in Baker Hughes's published investment case. The stated target is orders grow >=5% YoY.	Intact	full-year orders decline or fail to grow by 5% in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Expand Industrial & Energy Technology (IET) margins to 20%	Profit margins aim to expand to 20%.	Intact	IET margin falls below 15% in FY26	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 15, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 6 of last 6 quarters. IET segment EBITDA margin improved from 17.1% in 2025-Q1 to 20.6% in 2026-Q2, showing steady progress toward the 20% target. Management consistently projects margin expansion, and the financials confirm delivering trajectory with margin gains over the period. Delivery assessment Oct 15, 2026

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$2.99

$2.85 → $2.99 · observed estimates

FY2027 revenue$32.17B

$29.41B → $32.17B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$2.85	$29,407,148,820	16 / 13
2026-07-25	$2.85	$29,407,148,820	16 / 13
2026-07-26	$2.85	$29,407,148,820	16 / 13
2026-07-27	$2.85	$29,407,148,820	16 / 13
2026-07-28	$2.85	$29,407,148,820	16 / 13
2026-07-29	$2.99	$30,457,490,150	17 / 14
2026-07-30	$2.99	$30,457,490,150	17 / 14
2026-07-31	$2.94	$30,514,788,591	11 / 11
2026-08-01	$3.18	$32,754,277,140	10 / 8
2026-08-02	$2.95	$30,407,802,877	7 / 7
2026-08-03	$3.18	$32,754,277,140	10 / 8
2026-08-04	$3.18	$32,754,277,140	10 / 8
2026-08-05	$3.15	$32,361,188,510	12 / 10
2026-08-06	$3.15	$32,361,188,510	12 / 10
2026-08-07	$2.95	$30,407,802,877	7 / 7
2026-08-08	$3.17	$32,719,596,360	12 / 10
2026-08-09	$3.17	$32,719,596,360	12 / 10
2026-08-10	$3.17	$32,719,596,360	12 / 10
2026-08-11	$3.16	$32,738,746,350	11 / 9
2026-08-12	$3.16	$32,738,746,350	11 / 9
2026-08-13	$3.16	$32,738,746,350	11 / 9
2026-08-14	$2.95	$30,407,802,877	7 / 7
2026-08-15	$2.95	$30,407,802,877	7 / 7
2026-08-16	$2.95	$30,407,802,877	7 / 7
2026-08-17	$2.95	$30,407,802,877	7 / 7
2026-08-18	$2.95	$30,407,802,877	7 / 7
2026-08-19	$2.95	$30,407,802,877	7 / 7
2026-08-20	$2.96	$30,683,091,918	7 / 8
2026-08-21	$3.00	$30,884,047,876	8 / 8
2026-08-22	$3.00	$30,884,047,876	8 / 8
2026-08-23	$3.00	$30,884,047,876	8 / 8
2026-08-24	$3.00	$30,884,047,876	8 / 8
2026-08-25	$3.00	$30,884,047,876	8 / 8
2026-08-26	$3.01	$31,101,842,876	8 / 8
2026-08-27	$3.01	$31,101,842,876	8 / 8
2026-08-28	$3.01	$31,101,842,876	8 / 8
2026-08-29	$3.01	$31,101,842,876	8 / 8
2026-08-30	$3.01	$31,101,842,876	8 / 8
2026-08-31	$3.01	$31,101,842,876	8 / 8
2026-09-01	$3.01	$31,101,842,876	8 / 8
2026-09-02	$3.01	$31,101,842,876	8 / 8
2026-09-03	$3.01	$31,101,842,876	8 / 8
2026-09-04	$3.01	$31,101,842,876	8 / 8
2026-09-05	$3.01	$31,101,842,876	8 / 8
2026-09-06	$3.01	$31,101,842,876	8 / 8
2026-09-07	$3.01	$31,101,842,876	8 / 8
2026-09-08	$3.01	$31,101,842,876	8 / 8
2026-09-09	$3.01	$31,101,842,876	8 / 8
2026-09-10	$3.02	$31,101,242,876	8 / 8
2026-09-11	$3.00	$31,176,656,347	8 / 8
2026-09-12	$3.00	$31,202,771,200	8 / 8
2026-09-13	$3.00	$31,202,771,200	8 / 8
2026-09-14	$3.00	$31,202,771,200	8 / 8
2026-09-15	$3.02	$31,318,591,823	9 / 9
2026-09-16	$3.02	$31,318,591,823	9 / 9
2026-09-17	$3.02	$31,318,591,823	7 / 8
2026-09-18	$3.02	$31,318,591,823	7 / 8
2026-09-19	$3.02	$31,318,591,823	7 / 8
2026-09-20	$3.02	$31,318,591,823	7 / 8
2026-09-21	$3.02	$31,318,591,823	7 / 8
2026-09-22	$3.02	$31,318,591,823	7 / 8
2026-09-23	$3.02	$31,318,591,823	7 / 8
2026-09-24	$3.02	$31,318,591,823	7 / 8
2026-09-25	$3.02	$31,318,591,823	7 / 8
2026-09-26	$3.02	$31,318,591,823	7 / 8
2026-09-27	$3.02	$31,318,591,823	7 / 8
2026-09-28	$3.02	$31,318,591,823	7 / 8
2026-09-29	$3.02	$31,314,647,378	7 / 8
2026-09-30	$2.99	$31,973,122,528	9 / 10
2026-10-01	$3.00	$31,882,408,894	9 / 10
2026-10-02	$3.00	$31,882,408,894	9 / 10
2026-10-03	$3.02	$32,115,879,482	9 / 10
2026-10-04	$3.02	$32,115,879,482	9 / 10
2026-10-05	$3.02	$32,115,879,482	9 / 10
2026-10-06	$3.01	$32,010,114,777	9 / 10
2026-10-07	$3.01	$32,010,114,777	9 / 10
2026-10-08	$3.00	$32,180,861,835	9 / 11
2026-10-09	$3.00	$32,181,063,130	9 / 11
2026-10-10	$3.00	$32,181,063,130	9 / 11
2026-10-11	$3.00	$32,181,063,130	9 / 11
2026-10-12	$3.00	$32,181,063,130	9 / 11
2026-10-13	$3.00	$32,181,063,130	9 / 11
2026-10-14	$3.00	$32,181,063,130	9 / 11
2026-10-15	$2.99	$32,173,317,244	9 / 11

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	17	5	1
2026-06-01	16	5	1
2026-07-01	18	5	1
2026-08-01	19	4	1
2026-09-01	20	4	1
2026-10-01	20	4	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 20 Buy / Strong Buy · 4 Hold · 1 Sell / Strong Sell

0 upgrades0 downgrades2 maintains

Recent actions · Sep 16–Oct 15 · 2 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

UBSSep 30 · prior Sep 14

$72.00 → $69.00-4.2%

JefferiesSep 29 · prior Apr 26

$80.00 → $77.00-3.7%

Goldman SachsSep 29

$71.00New observation · no comparable prior

$0$44.00$88.00

0 raises · 2 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 16, 2026–Oct 15, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Realize synergies from Chart Industries acquisitionDirect metric needs a verified mapping
Increase full-year orders significantlyDirect metric needs a verified mapping
Expand Industrial & Energy Technology (IET) margins to 20%Direct metric needs a verified mapping

Next proof point

Oct 27, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.0%Typical daily move · historical

Downside history

-24.0%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Baker Hughes outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 10, 2026

What kind of bet this is

This investment represents a turnaround story in the energy sector, with a focus on improving margins and order growth. The current thesis state is cautious, given the mixed execution quality and recent performance metrics.

What's priced into Baker Hughes

The market seems to have priced in a level of fragility due to weak execution quality and a turbulent sector environment. BKR is currently viewed as cheap compared to its peers, but there is an expectations gap indicating that the market anticipates challenges ahead.

What the fundamentals likely do

Management has made progress on key priorities, such as expanding margins and increasing order backlog, which supports a stable fundamental trajectory. However, the recent decline in company momentum suggests potential challenges in maintaining this growth.

What Baker Hughes hinges on

The long-term thesis hinges on management's ability to execute on their priorities and the overall performance of the energy sector. Key factors include inflation trends and the performance of sector leaders, which could influence BKR's momentum.