Question 1

What is Baker Hughes's P/FCF ratio?

Accepted Answer

Baker Hughes (BKR) P/FCF ratio is 24.6× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Baker Hughes?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Baker Hughes specifically, the relevant sector benchmark is the current sector median of 22.1×.

Question 5

Is Baker Hughes's P/FCF ratio high or low?

Accepted Answer

Baker Hughes's P/FCF ratio of 24.6× is above its own 5-year average of 20.2× and above the sector median of 22.1×. That places the current reading at the 79th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Baker Hughes's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Baker Hughes (BKR) P/FCF ratio has ranged from a low of 3.7× in 2020 to a high of 170.9× in 2017. The 5-year average is 20.2× and the 5-year median is 19.5×.

Question 7

What was Baker Hughes's P/FCF ratio in 2025?

Accepted Answer

Baker Hughes (BKR) P/FCF ratio at the end of 2025 was 17.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Baker Hughes's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$45B	$2.54B	17.7×	-2.2×	Dec 31, 2025
2024	$40.9B	$2.05B	19.9×	+1.8×	Dec 31, 2024
2023	$34.2B	$1.88B	18.2×	-8.3×	Dec 31, 2023
2022	$29.5B	$1.12B	26.5×	+14.4×	Dec 31, 2022
2021	$21.6B	$1.79B	12.0×	-16.6×	Dec 31, 2021
2020	$14.9B	$519M	28.6×	+15.5×	Dec 31, 2020
2019	$16.7B	$1.27B	13.1×	-0.0×	Dec 31, 2019
2018	$10.1B	$767M	13.1×	—	Dec 31, 2018
2017	$13.5B	-$1.16B	—	—	Dec 31, 2017
2016	$19.5B	-$162M	—	—	Dec 31, 2016


Phillips 66 (PSX)	615.5×
Targa Resources (TRGP)	205.8×
Williams Companies (WMB)	123.3×
Enbridge (ENB)	73.7×
Texas Pacific Land (TPL)	66.3×
Diamondback Energy (FANG)	35.1×
Enphase Energy (ENPH)	34.2×
Chevron (CVX)	30.6×
National Fuel Gas (NFG)	29.1×
ONEOK (OKE)	25.4×
EOG Resources (EOG)	18.9×
Energy Transfer LP (ET)	18.2×
Occidental Petroleum (OXY)	17.8×
SLB (SLB)	16.5×
Halliburton (HAL)	16.5×
Marathon Petroleum (MPC)	12.6×
Valero Energy (VLO)	12.4×
Devon Energy (DVN)	11.9×
ConocoPhillips (COP)	10.5×
APA (APA)	10.1×
Expand Energy (EXE)	9.2×

P/FCF Ratio for Baker Hughes (BKR) 2018-2026

P/FCF Ratio daily chart for Baker Hughes (BKR)

Historical P/FCF Ratio for Baker Hughes (BKR) from 2016 to 2025

About P/FCF Ratio at Baker Hughes (BKR)

Baker Hughes P/FCF Ratio by Year

Baker Hughes P/FCF Ratio 2025: 17.7×

Baker Hughes P/FCF Ratio 2024: 19.9×

Baker Hughes P/FCF Ratio 2023: 18.2×

Baker Hughes P/FCF Ratio 2022: 26.5×

Baker Hughes P/FCF Ratio 2021: 12.0×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Baker Hughes (BKR) Key Financials