Baker Hughes Company (BKR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la tecnología energética, Baker Hughes Company (BKR) emerge como una potencia transformadora, navegando estratégicamente la compleja intersección de los servicios tradicionales de petróleo y gas con innovación digital de vanguardia. Al aprovechar un intrincado lienzo de modelo de negocio que combina experiencia tecnológica, asociaciones estratégicas y soluciones sostenibles, Baker Hughes no se adapta solo al panorama energético en evolución, sino que lo está reformando activamente. Su enfoque integral abarca desde tecnologías avanzadas de campo petrolero hasta desarrollos de energía renovable, posicionando a la compañía como un jugador fundamental en el ecosistema de energía global.

Baker Hughes Company (BKR) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con grandes compañías de petróleo y gas

Baker Hughes ha establecido asociaciones estratégicas con:

Empresa asociada	Enfoque de asociación	Año establecido
Aramco saudí	Transformación digital y servicios de campo petrolero	2019
Cheurón	Tecnologías avanzadas de perforación y producción	2021
Caparazón	Captura de carbono y soluciones bajas en carbono	2022

Asociaciones tecnológicas con empresas de innovación digital

Baker Hughes colabora con las principales empresas de tecnología:

• Microsoft Azure para soluciones de computación en la nube
• Google Cloud para IA y la integración de aprendizaje automático
• Nvidia para tecnologías computacionales avanzadas

Empresas conjuntas en mercados de energía emergentes

Región	Socio de empresa conjunta	Valor de inversión
Porcelana	CNPC	$ 450 millones
India	Industrias de confianza	$ 320 millones
Brasil	Petrobras	$ 280 millones

Colaboraciones de investigación con instituciones académicas

Las asociaciones clave de investigación académica incluyen:

• Universidad de Stanford - Laboratorio de innovación energética
• MIT - Centro de investigación de fabricación avanzada
• Universidad de Texas A&M - Departamento de Ingeniería de Petróleo

Equipo y servicio de socios de la cadena de suministro

Categoría de proveedor	Número de proveedores	Valor de adquisición anual
Materiales avanzados	47	$ 620 millones
Componentes de ingeniería de precisión	38	$ 510 millones
Proveedores de tecnología digital	22	$ 340 millones

Baker Hughes Company (BKR) - Modelo de negocio: actividades clave

Diseño de equipos y servicios de campo petrolero

Baker Hughes invirtió $ 679 millones en investigación y desarrollo en 2022. La compañía opera 14 principales centros de tecnología global centrados en la innovación de equipos de campos petroleros.

Inversión de I + D	Centros de tecnología	Solicitudes de patentes
$ 679 millones (2022)	14 centros globales	238 nuevas patentes presentadas

Soluciones de transformación digital y tecnología

Baker Hughes genera aproximadamente $ 1.2 mil millones anuales a partir de soluciones digitales y servicios de tecnología.

• Plataformas de mantenimiento predictivo impulsadas por IA
• Sistemas de monitoreo industrial de IoT
• Soluciones de gestión de energía basadas en la nube

Optimización de perforación y producción

La compañía administra más de 5,000 proyectos activos de perforación y optimización de producción en todo el mundo en 2023.

Proyectos globales	Regiones operativas	Ingresos anuales de los servicios
Más de 5,000 proyectos activos	60 países	$ 3.4 mil millones

Transición energética e innovaciones de sostenibilidad

Baker Hughes cometió $ 1.5 mil millones para el desarrollo de tecnología baja en carbono en 2022.

• Tecnologías de captura de carbono
• Soluciones de energía de hidrógeno
• Infraestructura de energía renovable

Gestión y consultoría de proyectos globales

La compañía brinda servicios de consultoría en 60 países con ingresos de consultoría anuales de $ 2.1 mil millones.

Consultoría regiones	Consultoría de ingresos	Personal de consultoría
60 países	$ 2.1 mil millones	1.800 consultores

Baker Hughes Company (BKR) - Modelo de negocio: recursos clave

Experiencia tecnológica avanzada

Baker Hughes invirtió $ 985 millones en investigación y desarrollo en 2022. La compañía mantiene más de 1,500 patentes activas en los dominios de tecnología energética.

Categoría de tecnología	Cartera de patentes	Inversión de I + D
Tecnologías digitales	412 patentes	$ 312 millones
Tecnologías de hardware	628 patentes	$ 436 millones
Soluciones de energía	460 patentes	$ 237 millones

Extenso talento de ingeniería global

Baker Hughes emplea a 55,000 profesionales a nivel mundial en 120 países.

• Fuerza laboral de ingeniería: 22,500 ingenieros especializados
• Doctor en Filosofía. Investigadores de nivel: 1.200
• Centros de investigación globales: 18 ubicaciones

Tecnologías de hardware y digitales propietarios

Baker Hughes opera 7 principales centros de desarrollo de tecnología con $ 1.2 mil millones invertidos en tecnologías propietarias en 2022.

Capacidades de investigación y desarrollo

I + D Métrica	Valor 2022
Gastos totales de I + D	$ 985 millones
Se lanza una nueva tecnología	37 innovaciones innovadoras
Inversiones de transformación digital	$ 412 millones

Infraestructura e instalaciones globales integrales

Baker Hughes mantiene 310 instalaciones operativas en todo el mundo.

• Instalaciones de fabricación: 142
• Centros de investigación: 18
• Hubs de innovación tecnológica: 12
• Centros de servicio globales: 138

Baker Hughes Company (BKR) - Modelo de negocio: propuestas de valor

Soluciones integradas de tecnología energética

Baker Hughes reportó $ 24.6 mil millones en ingresos totales para 2023. La compañía ofrece soluciones integradas en múltiples sectores de energía, que incluyen:

• Equipos y servicios de campo petrolero
• Soluciones de tecnología digital
• Soluciones de turbomachinería y procesos

Segmento	2023 ingresos	Cuota de mercado
Servicios de campo petrolero	$ 11.4 mil millones	15.2%
Turbomachinería & Soluciones de proceso	$ 7.2 mil millones	12.5%
Soluciones digitales	$ 5.8 mil millones	10.3%

Capacidades avanzadas de transformación digital

Baker Hughes invirtió $ 1.2 mil millones en transformación digital e investigación de tecnología en 2023. Las ofertas digitales clave incluyen:

• Mantenimiento predictivo impulsado por IA
• Soluciones industriales de IoT
• Plataformas de gestión de energía basadas en la nube

Tecnologías de campo petrolero sostenible y eficiente

La compañía comprometió $ 850 millones al desarrollo de tecnología sostenible en 2023, con enfoque en:

• Tecnologías de captura de carbono
• Soluciones de perforación de baja emisión
• Integración de energía renovable

Cartera integral de servicios energéticos

Baker Hughes opera en 120 países con una cartera de servicios que abarca:

Categoría de servicio	Ingresos anuales	Clientes globales
Servicios de perforación	$ 5.6 mil millones	320+ compañías de petróleo/gas
Fabricación de equipos	$ 6.3 mil millones	250+ clientes industriales
Consultoría tecnológica	$ 2.1 mil millones	180+ empresas de energía

Mitigación de riesgos y soluciones de eficiencia operativa

Baker Hughes proporciona tecnologías de gestión de riesgos con:

• Inversión de análisis predictivo: $ 420 millones en 2023
• Sistemas de monitoreo en tiempo real
• Tecnologías de seguridad avanzadas

Baker Hughes Company (BKR) - Modelo de negocios: relaciones con los clientes

Asociaciones estratégicas de clientes estratégicos a largo plazo

Baker Hughes mantiene asociaciones estratégicas con 98 de las 100 principales compañías de energía global a partir de 2023. La duración promedio del contrato de la compañía es de 5 a 7 años en el sector de petróleo y gas.

Tipo de asociación	Número de clientes importantes	Valor anual del contrato
Corporaciones de Energía Global	98	$ 2.4 mil millones
Compañías petroleras nacionales	37	$ 1.6 mil millones
Socios de exploración en alta mar	22	$ 890 millones

Soporte técnico y servicios de consulta

Baker Hughes brinda apoyo técnico integral con cobertura global 24/7 en 120 países.

• Tiempo de respuesta promedio: 2.3 horas
• Personal de soporte técnico: 3.700 ingenieros especializados
• Inversión anual en infraestructura de soporte: $ 214 millones

Implementación de tecnología personalizada

Baker Hughes ofrece soluciones tecnológicas a medida con estrategias de implementación específicas para diferentes segmentos de clientes.

Segmento tecnológico	Soluciones personalizadas desarrolladas	Tasa de éxito de implementación
Tecnologías digitales de campo petrolero	47	92%
Sistemas de optimización de perforación	33	88%

Programas continuas de optimización de rendimiento

Baker Hughes implementa programas continuos de monitorización y optimización del rendimiento para clientes.

• Contratos de optimización de rendimiento: 64 programas activos
• Mejora de eficiencia promedio: 17.5%
• Ahorros anuales generados para clientes: $ 376 millones

Plataforma digital y herramientas de participación del cliente

Baker Hughes utiliza plataformas digitales avanzadas para una interacción mejorada del cliente y entrega de servicios.

Plataforma digital	Usuarios activos	Interacciones digitales anuales
Portal de clientes de Baker Hughes	2.300 clientes corporativos	1.4 millones
Sistemas de monitoreo remoto	1.800 implementaciones activas	3.2 millones de intercambios de datos

Baker Hughes Company (BKR) - Modelo de negocios: canales

Equipos de ventas directos

Baker Hughes mantiene más de 1.200 representantes de ventas directas a nivel mundial en 120 países. Tamaño del equipo de ventas en 2023: 3,458 profesionales. Ingresos de ventas anuales promedio por representante: $ 4.2 millones.

Región	Tamaño del equipo de ventas	Cobertura anual
América del norte	687	$ 1.6 mil millones
Oriente Medio	412	$ 1.3 mil millones
Europa	276	$ 825 millones
Asia Pacífico	345	$ 1.1 mil millones

Plataformas de marketing digital

Presupuesto de marketing digital en 2023: $ 42.5 millones. Métricas de compromiso en línea:

• Seguidores de LinkedIn: 286,000
• Seguidores de Twitter: 132,000
• Sitio web Visitantes mensuales: 1.2 millones
• Generación de leads digitales: 18,700 clientes potenciales calificados

Conferencias de la industria y ferias comerciales

Participación anual de la conferencia: 37 eventos internacionales principales. Inversión total en marketing de ferias comerciales: $ 8.3 millones en 2023.

Tipo de evento	Número de eventos	Alcance total
Conferencias internacionales	12	45,000 asistentes
Ferias regionales	25	76,500 asistentes

Portales de soporte técnico en línea

Estadísticas de la plataforma de soporte técnico:

• Disponibilidad de soporte 24/7
• Interacciones de soporte anual: 126,000
• Tiempo de respuesta promedio: 17 minutos
• Calificación de satisfacción del cliente: 94.3%

Red global de oficinas de ventas regionales

Distribución de la oficina regional: 87 ubicaciones de ventas dedicadas en todo el mundo. Presupuesto operativo de la oficina regional total: $ 62.4 millones en 2023.

Región	Número de oficinas	Ingresos regionales anuales
América del norte	24	$ 4.7 mil millones
América Latina	15	$ 1.9 mil millones
Europa/CIS	18	$ 2.6 mil millones
Medio Oriente/África	16	$ 3.2 mil millones
Asia Pacífico	14	$ 2.8 mil millones

Baker Hughes Company (BKR) - Modelo de negocio: segmentos de clientes

Grandes compañías internacionales de petróleo y gas

Baker Hughes atiende a las importantes corporaciones globales de petróleo y gas con ingresos anuales superiores a $ 50 mil millones. Los clientes clave incluyen:

Compañía	Ingresos anuales	Operaciones globales
Exxonmobil	$ 413.7 mil millones	55+ países
Caparazón	$ 383.6 mil millones	Más de 70 países
Cheurón	$ 236.4 mil millones	Más de 45 países

Corporaciones Nacionales de Petróleo

Baker Hughes ofrece tecnología y servicios a compañías de energía estatales de todo el mundo.

Corporación	País	Producción anual de petróleo
Aramco saudí	Arabia Saudita	9.6 millones de barriles/día
Pemex	México	1.7 millones de barriles/día
Petrobras	Brasil	2.8 millones de barriles/día

Firmas de exploración y producción independientes

Baker Hughes apoya a las compañías de exploración energética de tamaño mediano e independiente.

• Tamaño total del segmento de mercado: $ 150 mil millones
• Presupuesto promedio de exploración anual: $ 25-50 millones por empresa
• Enfoque geográfico: América del Norte, América Latina, Medio Oriente

Desarrolladores de energía renovable

Baker Hughes proporciona soluciones tecnológicas para la infraestructura de energía renovable.

Sector renovable	Inversión global	Servicios de Baker Hughes
Energía eólica	$ 303 mil millones	Tecnología de turbina
Energía solar	$ 252 mil millones	Soluciones de infraestructura
Hidrógeno verde	$ 42 mil millones	Consultoría técnica

Proyectos de infraestructura de energía industrial

Baker Hughes admite el desarrollo de la infraestructura energética a gran escala.

• Inversión total de infraestructura: $ 500 mil millones anualmente
• Tipos de proyectos: terminales de GNL, plataformas offshore, redes de tuberías
• Valor promedio del proyecto: $ 100-500 millones

Baker Hughes Company (BKR) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Baker Hughes invirtió $ 815 millones en gastos de investigación y desarrollo en 2022, lo que representa el 4.2% de los ingresos totales.

Año	Inversión de I + D	Porcentaje de ingresos
2022	$ 815 millones	4.2%
2021	$ 752 millones	4.0%

Gastos operativos globales

Baker Hughes reportó gastos operativos totales de $ 18.6 mil millones en 2022.

• Gastos de venta, general y administrativo: $ 3.2 mil millones
• Costo de bienes vendidos: $ 15.4 mil millones

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica para Baker Hughes fueron de aproximadamente $ 285 millones en 2022.

Categoría de infraestructura	Costo de mantenimiento anual
Sistemas digitales	$ 125 millones
Infraestructura de hardware	$ 95 millones
Sistemas de ciberseguridad	$ 65 millones

Capacitación en la fuerza laboral y adquisición de talento

Baker Hughes gastó $ 92 millones en capacitación en la fuerza laboral y desarrollo de talentos en 2022.

• Programas de capacitación de empleados: $ 52 millones
• Reclutamiento y adquisición de talento: $ 40 millones

Costos de entrega de fabricación y servicio

Los costos de administración y prestación de servicios totalizaron $ 12.7 mil millones en 2022.

Segmento de fabricación	Costo
Fabricación de equipos de campo petrolero	$ 6.3 mil millones
Turbomachinería & Soluciones de proceso	$ 4.2 mil millones
Soluciones digitales	$ 2.2 mil millones

Baker Hughes Company (BKR) - Modelo de negocios: flujos de ingresos

Venta de equipos y arrendamiento

Baker Hughes reportó ventas totales de equipos de $ 6.2 mil millones en 2022. El segmento de equipos de campo petrolero de la compañía generó ingresos de $ 4.8 mil millones en el mismo año.

Categoría de equipo	Ingresos (2022)	Cuota de mercado
Equipo de perforación	$ 2.1 mil millones	18.5%
Equipo de finalización	$ 1.7 mil millones	15.3%
Equipo de producción	$ 1.4 mil millones	12.7%

Contratos de servicio y consultoría

Baker Hughes generó $ 8.3 mil millones a partir de contratos de servicio en 2022, lo que representa el 42% de los ingresos totales de la compañía.

• Ingresos de servicios ascendentes: $ 5.6 mil millones
• Ingresos de Servicios Midstream: $ 1.7 mil millones
• Ingresos de servicios de consultoría: $ 1 mil millones

Soluciones de tecnología digital

Los ingresos por tecnología digital alcanzaron los $ 1.2 mil millones en 2022, con un crecimiento año tras año.

Tipo de solución digital	Ganancia	Índice de crecimiento
Plataformas digitales industriales	$ 620 millones	12%
Soluciones basadas en la nube	$ 380 millones	18%
AI y servicios de análisis	$ 200 millones	22%

Soporte y mantenimiento del mercado de accesorios

Los ingresos del mercado de accesorios totalizaron $ 3.5 mil millones en 2022, con una red de servicios globales que cubre 120 países.

• Contratos de mantenimiento del equipo: $ 2.1 mil millones
• Ventas de repuestos: $ 1.4 mil millones

Licencias de tecnología de transición de energía

Baker Hughes ganó $ 450 millones de la licencia de tecnología de transición energética en 2022.

Área tecnológica	Ingresos por licencias	Mercados clave
Tecnologías bajas en carbono	$ 250 millones	América del Norte, Europa
Soluciones de captura de carbono	$ 120 millones	Medio Oriente, Asia
Tecnologías de hidrógeno	$ 80 millones	Europa, América del Norte

Baker Hughes Company (BKR) - Canvas Business Model: Value Propositions

You're looking at the core value Baker Hughes Company (BKR) delivers across its segments, which really boils down to integrated energy solutions and future-proofing customer assets. It's about providing full-cycle support, from traditional oilfield services to next-generation power.

For the full oil and gas lifecycle, Baker Hughes Company (BKR) provides integrated solutions. In the Oilfield Services & Equipment (OFSE) segment, for instance, Q3 2025 orders rose year-over-year by 7% to $4.07 billion, which included a record $1.2 billion in Subsea and Surface Pressure Systems (SSPS) orders alone.

The Industrial & Energy Technology (IET) segment is heavily focused on high-efficiency, lower-emissions power, especially for LNG and the booming data center market. In Q2 2025, the company secured $650 million in data center-related orders, which included a deal for 30 NovaLT™ turbines to deliver 500 MW of power across U.S. data centers. Furthermore, Baker Hughes Company (BKR) is enabling the energy transition with tangible projects; they are designing equipment for five Organic Rankine Cycle (ORC) power plants for Fervo Energy's Cape Station geothermal project, aiming to generate approximately 300 megawatts of clean power by 2028.

This focus on technology and long-term service creates significant revenue visibility. As of the third quarter of 2025, the IET Remaining Performance Obligations (RPO) hit a record of $32.1 billion, contributing to a total company RPO of $35.3 billion. That IET backlog, with a book-to-bill ratio of 1.2x in Q3 2025, gives a clear line of sight for revenue well into 2026 and beyond.

The value proposition extends deeply into enabling the energy transition through technologies like Carbon Capture, Utilization, and Storage (CCUS), hydrogen, and geothermal. Baker Hughes Company (BKR) is advancing these areas through strategic collaborations and technology deployment:

• Securing awards for geothermal power solutions, including turboexpanders and generators.
• Advancing hydrogen-ready gas turbines and investing in green hydrogen production technology firms.
• Scaling CCUS technologies critical for hard-to-abate sectors.

For customers in traditional energy, the value is realized through operational efficiency gains. While specific lifting cost reductions aren't always published, the impact of optimization is clear in customer results. For example, Ecopetrol Group achieved an energy optimization saving of COP 22.9 billion in its operations during the first quarter of 2025, a type of efficiency Baker Hughes Company (BKR) helps facilitate through its digital and operational services. This is the kind of concrete financial benefit that underpins long-term service agreements.

Here's a quick look at the backlog that supports this forward-looking value:

Metric	Value (as of Q3 2025)	Segment
Record RPO	$32.1 billion	Industrial & Energy Technology (IET)
Total RPO	$35.3 billion	Total Company
IET Orders	$4.1 billion	Industrial & Energy Technology (IET)
SSPS Orders (Record Quarter)	$1.2 billion	Oilfield Services & Equipment (OFSE)

The company is projecting more than $40 billion of IET orders over the next three years, showing confidence in this technology-driven value stream.

Baker Hughes Company (BKR) - Canvas Business Model: Customer Relationships

You're looking at how Baker Hughes Company (BKR) locks in its major energy and industrial clients. The relationship strategy centers on deep, multi-year commitments, which is why you see such a massive backlog figure.

Dedicated account management for National Oil Companies (NOCs) and IOCs

Baker Hughes Company maintains high-touch relationships with major operators. For instance, the company reinforced its long-standing collaboration with Aramco by securing an order in the third quarter of 2025 to expand integrated underbalanced coiled tubing drilling (UBCTD) operations across Saudi Arabia's natural gas fields. This specific multi-year agreement will see the fleet increase from four to 10 units, with work scheduled to commence in 2026. Similarly, in the offshore segment, Baker Hughes Company secured important topside equipment contracts for a major FPSO project in South America.

Long-term service agreements (LTSAs) for IET equipment, ensuring recurring revenue

The Industrial & Energy Technology (IET) segment relies heavily on these durable commitments. The Gas Tech. Services (GTS) business, a key driver of long-term growth, is structurally supported by service agreements that ensure the performance and reliability of LNG facilities over their full lifecycle. A concrete example is bp selecting Baker Hughes Company for a comprehensive multi-year long-term service agreement for its Tangguh LNG plant in Papua Barat, Indonesia, covering spare parts, repair services, and field service engineering support for critical turbomachinery. The strength of these long-term commitments is reflected in the total IET Remaining Performance Obligations (RPO) reaching a record $32.1 billion as of September 30, 2025. The total company RPO stood at $35.3 billion for the same period.

Integrated project delivery model for large-scale infrastructure (e.g., FPSO projects)

For complex, large-scale developments, Baker Hughes Company deploys an integrated solutions portfolio. In Brazil, a significant multi-year order was awarded by Petrobras for workover and plug and abandonment (P&A) services offshore, set to start in the first half of 2025. This project involves deploying wireline, coiled tubing, cementing, and geosciences services across all of Petrobras' offshore fields. Another major integrated services project with Petrobras for the Buzios deepwater field also began in the first half of 2025, covering well construction services across three rigs. The company is targeting at least $40 billion of IET orders over the next three years (Horizon Two, starting 2026).

Direct consulting and software support for digital solutions

Customer relationships are enhanced through digital integration, which drives revenue growth relative to the installed base expansion. Baker Hughes Company provides digital solutions like Cordant™ Asset Health for projects such as the Rio Grande LNG project, deploying technology for plant-wide monitoring and providing real-time insights into critical rotating machinery. This digital support helps customers enhance availability and reduce unplanned downtime. The company completed the acquisition of Continental Disc Corporation in Q3 2025, which is expected to enhance recurring, lifecycle-driven revenues through its complementary products.

The scale of long-term customer engagement can be summarized by the order flow:

Metric	Value (as of Q3 2025)	Context
IET Orders (Q3 2025)	$4.1 billion	Driven by LNG equipment and record Cordant Solutions orders
IET Remaining Performance Obligations (RPO)	$32.1 billion	Record level providing strong revenue visibility for 2026 and beyond
Total Company RPO	$35.3 billion	Up $1.3 billion sequentially from Q2 2025
Aramco Fleet Expansion	4 to 10 units	For integrated UBCTD operations, booked Q3 2025

The company's overall financial performance in Q3 2025 included total revenue of $7,010 million and Adjusted EBITDA of $1,238 million.

Baker Hughes Company (BKR) - Canvas Business Model: Channels

You're looking at how Baker Hughes Company gets its products and services into the hands of its customers; it's a mix of high-touch direct sales and broad digital/partner reach. This is how they move everything from massive gas turbines to specialized software.

Direct global sales force for large equipment and long-term contracts.

The core of securing major, long-cycle business, especially within the Industrial and Energy Technology (IET) segment, relies on the direct sales force. This team manages the relationships for large equipment and the resulting long-term service agreements. For instance, the IET segment's Remaining Performance Obligations (RPO) reached a record of $32.1 billion as of Q3 2025, which is heavily supported by these direct, long-term contract negotiations. The company conducts business in over 120+ countries worldwide, meaning this direct force must maintain a strong regional focus with local teams close to the customer.

Worldwide network of service centers and field operations.

Field operations and service delivery are critical for both the Oilfield Services & Equipment (OFSE) and IET segments. While the exact number of Baker Hughes Company's dedicated service centers isn't explicitly stated for 2025, the scale of their operations is vast. For context on service network expansion, the planned acquisition of Chart Industries noted that Chart operates over 50 service centers globally, which is expected to increase service rates for the combined installed base. Furthermore, the company's overall reach is massive, with approximately 57,000 employees supporting global operations.

The geographic distribution of sales channels shows a heavy international focus:

• Non-US Revenue Share (FY 2024): Approximately 73.47% of total revenue.
• Non-US Revenue (FY 2024): $20.45 B.
• US Revenue (FY 2024): $7.38 B, representing 26.53% of total revenue.

The general channel partner network supports local access and service delivery:

• Number of Channel Partners: Over 200+, including distributors and service providers.
• Countries Covered: More than 50+ countries.
• Total Agreements: Over 300+ across product lines.

Digital platforms (e.g., Cordant) for software and data delivery.

Digital channels are a growing focus, particularly for driving high-margin recurring revenue. The Cordant Platform is central to this, providing a unified data view and actionable insights across assets. The success of this digital channel is reflected in its financial performance; Cordant Solutions achieved its highest margin in the past four years in Q3 2025. Orders for Cordant Solutions also hit a record in Q1 2025. This platform is deployed as a hosted solution or on a private cloud, offering a Software as a Service (SaaS) experience.

Joint venture structures for specialized product line distribution.

Baker Hughes Company uses joint ventures to optimize its portfolio and focus on core growth areas, particularly for specialized product lines. A key example is the Surface Pressure Control (SPC) product line, which was transferred to a joint venture with Cactus Inc. in the second half of 2025.

Here are the specifics of that channel structure change:

Metric	Value
JV Partner	Cactus Inc.
Baker Hughes Stake Retained	35%
Cactus Inc. Ownership/Control	65% Operational Control
Product Line	Surface Pressure Control (SPC)
SPC Backlog (as of 12/31/2024)	$600+ million

This structure allows Baker Hughes Company to leverage Cactus's agility in international markets while retaining a financial interest in a specialized product line that had a backlog exceeding $600 million at the end of 2024.

Baker Hughes Company (BKR) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Baker Hughes Company as of late 2025. The business model clearly splits its focus across two main operational segments, which directly map to distinct customer groups in the energy and industrial sectors.

National Oil Companies (NOCs) and International Oil Companies (IOCs) represent a foundational customer set, primarily served through the Oilfield Services & Equipment (OFSE) segment. These customers drive demand for well construction, completions, intervention, and production solutions. For context on segment scale, in fiscal year 2024, the OFSE segment generated $15.63 B in revenue, representing 56.16% of the total. As of the third quarter of 2025, the OFSE Remaining Performance Obligations (RPO) stood at $3.2 billion. Management noted that while OFSE margins softened in Q3 2025 due to the broader macro backdrop, they remain on track to achieve 20% margins for the full year 2025.

Independent oil and natural gas exploration and production companies are also key drivers within the OFSE structure. Baker Hughes Company is strategically focused on mature asset solutions for these customers to mitigate reservoir decline and optimize production efficiency, which increases the resilience of their revenue base.

Global Liquefied Natural Gas (LNG) and gas infrastructure developers are central to the growth story within the Industrial & Energy Technology (IET) segment. Baker Hughes Company secured $2.1 billion in LNG equipment bookings in 2024 alone. For the full year 2025, management projects IET orders to range between $12.5 billion and $14.5 billion, supported by continued demand in LNG and gas infrastructure. The IET segment's RPO reached a new record of $32.1 billion by the third quarter of 2025.

Industrial customers, especially data center and power generation operators, are a compelling growth vector for Baker Hughes Company, drawing on IET capabilities like industrial gas turbines and electric motors. The surging momentum in data center development is a clear driver; in the second quarter of 2025, the company booked more than $550 million in power generation equipment orders specifically for data centers. This focus helps diversify earnings away from more market-sensitive areas of OFSE.

Engineering, Procurement, and Construction (EPC) contractors serve as critical intermediaries, often placing large, complex orders for equipment that falls under the IET umbrella, such as Gas Technology Equipment. The company secured record Subsea & Surface Pressure Systems (SSPS) orders in Q3 2025. The overall business is geared toward these large-scale projects, as evidenced by the total company orders reaching $8.2 billion in Q3 2025, with $4.1 billion coming from IET orders.

Here's a quick look at the segment scale and key 2025 metrics that reflect the customer focus:

Customer/Segment Focus Area	2024 Revenue (Approximate)	2025 Q3 RPO (Remaining Performance Obligations)	Key 2025 Metric/Target
Oilfield Services & Equipment (OFSE) - NOCs/IOCs/Independents	$15.63 B	$3.2 billion	OFSE Margin Target: 20%
Industrial & Energy Technology (IET) - LNG/Gas Infra/Industrial	$12.20 B	$32.1 billion	IET Orders Guidance: $12.5 B to $14.5 B
Data Center Power Solutions (Subset of IET)	Not Separately Reported	Included in IET RPO	Q2 2025 Data Center Orders: Over $550 million

The overall financial context for these customer engagements in mid-to-late 2025 shows strong execution. Total revenue for the third quarter of 2025 was $7.0 billion, with an Adjusted EBITDA of $1,238 million. The company is targeting total company revenue between $26.5 billion and $27.7 billion for the full year 2025.

The customer base is served through specific product lines within the segments:

• OFSE Product Lines: Well Construction, Completions, Intervention, and Measurements, Production Solutions, and Subsea & Surface Pressure Systems.
• IET Product Lines: Gas Technology Equipment, Gas Technology Services, Industrial Products, Industrial Solutions, and Climate Technology Solutions.

The company is actively managing its portfolio to align with these customer needs, for example, by focusing on Gas Technology Services upgrades as customers extend equipment life. Finance: draft 13-week cash view by Friday.

Baker Hughes Company (BKR) - Canvas Business Model: Cost Structure

You're looking at the major drains on Baker Hughes Company's cash flow and earnings as of their latest reported quarter, Q3 2025. It's a mix of heavy upfront investment and ongoing operational expenses, which they are actively trying to manage.

High capital expenditures are a constant feature, necessary to support manufacturing capacity and technology deployment across their global operations. For the third quarter of 2025, capital expenditures, net of asset disposals, totaled $230 million. This spending was split between the segments, with $148 million allocated to Oilfield Services & Equipment (OFSE) and $67 million to Industrial & Energy Technology (IET).

The commitment to staying ahead in the energy technology space requires significant R&D investment. For the three months ended September 30, 2025, Research and Development costs were reported at $146 million. Over the first nine months of 2025, this investment totaled $453 million.

The Cost of goods sold (COGS), represented by Cost of Revenue, reflects the scale of their complex equipment manufacturing and service delivery. In Q3 2025, the Cost of Revenue was $5,309 million, against total revenue of $7,010 million for the same period.

The structural costs associated with maintaining a global footprint for field service personnel and logistics are embedded within the operating expenses. While not broken out separately in the primary income statement line items, the total Selling, general and administrative expenses for Q3 2025 were $607 million.

Baker Hughes Company is actively battling ongoing cost inflation, which partially offset gains in Q3 2025. The company is countering this pressure with aggressive internal efficiency drives. The benefits of these efforts are clear:

• Structural cost-out initiatives are a key driver of margin improvement.
• Deployment of the Business System is enhancing productivity and operating leverage.
• Adjusted EBITDA increased by 2% year-over-year in Q3 2025, despite inflation.

Here's a quick look at the key expense and investment figures from the third quarter of 2025:

Cost Component	Amount (in millions USD)	Period
Capital Expenditures (Net)	230	Q3 2025
Research and Development Costs	146	Q3 2025
Cost of Revenue (COGS Proxy)	5,309	Q3 2025
Selling, General and Administrative	607	Q3 2025

The company is clearly prioritizing capital for future growth areas, like LNG and digital solutions, while using structural cost actions to keep the base operational costs manageable against inflation.

Baker Hughes Company (BKR) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for Baker Hughes Company's revenue generation as of late 2025. It's all about the two main reporting segments: Industrial & Energy Technology (IET) and Oilfield Services & Equipment (OFSE). The company's overall financial outlook is quite clear.

Baker Hughes Company (BKR) has issued a full-year 2025 revenue guidance in the range of $27.0 billion to $27.8 billion. This guidance reflects confidence in the long-cycle IET business, even as OFSE navigates a more variable upstream spending environment.

The revenue streams are heavily influenced by the mix of equipment sales versus recurring services. For instance, the IET segment's strength is clearly visible in its backlog, which hit a record $32.1 billion in IET Remaining Performance Obligations (RPO) by the third quarter of 2025. This large, long-term backlog is the financial engine behind the aftermarket and maintenance contracts you mentioned.

Here's a look at the segment performance based on the third quarter of 2025 results, which gives you a concrete view of where the money is coming from right now:

Revenue Stream / Segment Metric	Q3 2025 Value (Millions USD)	Year-over-Year Change
Total Company Revenue	7,010	Up 1%
IET Segment Revenue	3,370	Up 15%
OFSE Segment Revenue	3,636	Down 8%
IET Segment EBITDA	635	Up 20%
OFSE Segment EBITDA	671	Down 12%

The IET segment is clearly the growth driver, underpinned by equipment sales and the associated long-term service agreements. You see this in the order intake, which surged to $4.1 billion in the third quarter of 2025. This segment's revenue is directly tied to major infrastructure projects.

Specific revenue-generating products and services within IET include:

• Equipment for natural gas and LNG capacity expansion.
• Power generation awards, including over 350 MW of NovaLT turbines booked for data centers in the first quarter of 2025 alone.
• Gas Technology Services (GTS) revenue growth of 9% year-over-year in Q2 2025, indicating strong service revenue.

The OFSE segment revenue, at $3,636 million for the third quarter, is more closely linked to immediate drilling and completion activity. While equipment sales like subsea trees are important, the recurring service component is evident through contract wins, such as the significant five-year contract extension for hydrocarbon and water treatment products and services with Valero's refineries.

OFSE services revenue is driven by activity in:

• Production Solutions, including ESP and electro-driven PCP systems in Colombia.
• Drilling operations support, like the multi-year contract with Aramco for coiled tubing drilling operations.

The margin performance tells a story about the revenue mix; IET achieved an EBITDA margin of 18.8% in Q3 2025, while OFSE was at 18.5%. The overall company target is to lift the consolidated adjusted EBITDA margin from 17.3% in 2025 to 20% in the next strategic phase.

Finance: draft 13-week cash view by Friday.