Baker Hughes Company (BKR): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie énergétique, Baker Hughes Company (BKR) apparaît comme une puissance transformatrice, naviguant stratégiquement à l'intersection complexe des services de pétrole et de gaz traditionnels avec l'innovation numérique de pointe. En tirant parti d'une toile de modèle commercial complexe qui mélange l'expertise technologique, les partenariats stratégiques et les solutions durables, Baker Hughes ne s'adapte pas seulement au paysage énergétique en évolution - il le remodeance activement. Leur approche complète s'étend, des technologies avancées du champ pétrolier aux développements des énergies renouvelables, positionnant l'entreprise en tant qu'acteur pivot de l'écosystème mondial de l'énergie.

Baker Hughes Company (BKR) - Modèle commercial: partenariats clés

Alliances stratégiques avec les grandes sociétés pétrolières et gazières

Baker Hughes a établi des partenariats stratégiques avec:

Entreprise partenaire	Focus de partenariat	Année établie
SAUDI ARAMCO	Services de transformation numérique et de champ pétrolifères	2019
Chevron	Technologies de forage et de production avancées	2021
Coquille	Capture de carbone et solutions à faible teneur en carbone	2022

Partenariats technologiques avec les sociétés d'innovation numérique

Baker Hughes collabore avec les principales sociétés technologiques:

• Microsoft Azure pour les solutions de cloud computing
• Google Cloud pour l'IA et l'intégration d'apprentissage automatique
• Nvidia pour les technologies de calcul avancées

Coentreprises sur les marchés de l'énergie émergents

Région	Coentreprise	Valeur d'investissement
Chine	CNPC	450 millions de dollars
Inde	Industries de Reliance	320 millions de dollars
Brésil	Pastrobras	280 millions de dollars

Collaborations de recherche avec des établissements universitaires

Les principaux partenariats de recherche universitaire comprennent:

• Université de Stanford - Laboratoire d'innovation énergétique
• MIT - Advanced Manufacturing Research Center
• Texas A&M University - Département d'ingénierie pétrolière

Partenaires de la chaîne d'approvisionnement de l'équipement et des services

Catégorie des fournisseurs	Nombre de fournisseurs	Valeur d'achat annuelle
Matériaux avancés	47	620 millions de dollars
Composants d'ingénierie de précision	38	510 millions de dollars
Fournisseurs de technologies numériques	22	340 millions de dollars

Baker Hughes Company (BKR) - Modèle d'entreprise: Activités clés

Conception d'équipement et de services de champ pétrolifères

Baker Hughes a investi 679 millions de dollars dans la recherche et le développement en 2022. La société exploite 14 grands centres de technologie mondiaux axés sur l'innovation des équipements de champs pétroliers.

Investissement en R&D	Centres technologiques	Demandes de brevet
679 millions de dollars (2022)	14 centres mondiaux	238 nouveaux brevets déposés

Solutions de transformation numérique et technologique

Baker Hughes génère environ 1,2 milliard de dollars par an à partir de solutions numériques et de services technologiques.

• Plates-formes de maintenance prédictive axées
• Systèmes de surveillance IoT industriels
• Solutions de gestion de l'énergie basées sur le cloud

Optimisation du forage et de la production

La société gère plus de 5 000 projets de forage actif et d'optimisation de la production dans le monde en 2023.

Projets mondiaux	Régions opérationnelles	Revenus annuels des services
Plus de 5 000 projets actifs	60 pays	3,4 milliards de dollars

Innovations de transition énergétique et de durabilité

Baker Hughes a engagé 1,5 milliard de dollars pour le développement de la technologie à faible teneur en carbone en 2022.

• Technologies de capture de carbone
• Solutions d'énergie d'hydrogène
• Infrastructure d'énergie renouvelable

Gestion mondiale de projet et conseil

La Société fournit des services de conseil dans 60 pays un chiffre d'affaires de consultation annuel de 2,1 milliards de dollars.

Régions de conseil	Revenus de consultation	Personnel de conseil
60 pays	2,1 milliards de dollars	1 800 consultants

Baker Hughes Company (BKR) - Modèle d'entreprise: Ressources clés

Expertise technologique avancée

Baker Hughes a investi 985 millions de dollars dans la recherche et le développement en 2022. La société maintient plus de 1 500 brevets actifs dans les domaines de la technologie énergétique.

Catégorie de technologie	Portefeuille de brevets	Investissement en R&D
Technologies numériques	412 brevets	312 millions de dollars
Technologies matérielles	628 brevets	436 millions de dollars
Solutions énergétiques	460 brevets	237 millions de dollars

Talent d'ingénierie mondial étendu

Baker Hughes emploie 55 000 professionnels dans le monde dans 120 pays.

• Travail d'ingénierie: 22 500 ingénieurs spécialisés
• doctorat chercheurs de niveau: 1 200
• Centres de recherche mondiaux: 18 emplacements

Technologies numériques et matérielles propriétaires

Baker Hughes exploite 7 principaux centres de développement technologique avec 1,2 milliard de dollars investis dans des technologies propriétaires en 2022.

Capacités de recherche et de développement

Métrique de R&D	Valeur 2022
Dépenses totales de R&D	985 millions de dollars
Lancements de nouvelles technologies	37 innovations révolutionnaires
Investissements de transformation numérique	412 millions de dollars

Infrastructures et installations globales complètes

Baker Hughes maintient 310 installations opérationnelles dans le monde.

• Installations de fabrication: 142
• Centres de recherche: 18
• Hubs de l'innovation technologique: 12
• Centres de services mondiaux: 138

Baker Hughes Company (BKR) - Modèle d'entreprise: propositions de valeur

Solutions de technologie énergétique intégrée

Baker Hughes a déclaré 24,6 milliards de dollars de revenus totaux pour 2023. La société propose des solutions intégrées dans plusieurs secteurs de l'énergie, notamment:

• Équipement et services pétroliers
• Solutions technologiques numériques
• Turbomachinerie et solutions de processus

Segment	Revenus de 2023	Part de marché
Services de champ pétrolifères	11,4 milliards de dollars	15.2%
Turbomachinerie & Traiter des solutions	7,2 milliards de dollars	12.5%
Solutions numériques	5,8 milliards de dollars	10.3%

Capacités avancées de transformation numérique

Baker Hughes a investi 1,2 milliard de dollars dans la transformation numérique et la recherche technologique en 2023. Les principales offres numériques comprennent:

• Maintenance prédictive dirigée par l'IA
• Solutions IoT industrielles
• Plates-formes de gestion de l'énergie basées sur le cloud

Technologies de champ pétrolifères durables et efficaces

L'entreprise a engagé 850 millions de dollars dans le développement de technologies durables en 2023, en mettant l'accent sur:

• Technologies de capture de carbone
• Solutions de forage à faible émission
• Intégration d'énergie renouvelable

Portfolio complet de services énergétiques

Baker Hughes opère dans 120 pays avec un portefeuille de services couvrant:

Catégorie de service	Revenus annuels	Clients mondiaux
Services de forage	5,6 milliards de dollars	320+ sociétés de pétrole / gaz
Fabrication d'équipements	6,3 milliards de dollars	250+ clients industriels
Conseil technologique	2,1 milliards de dollars	180+ entreprises énergétiques

Solutions d'atténuation des risques et d'efficacité opérationnelle

Baker Hughes fournit des technologies de gestion des risques avec:

• Investissement d'analyse prédictive: 420 millions de dollars en 2023
• Systèmes de surveillance en temps réel
• Technologies de sécurité avancées

Baker Hughes Company (BKR) - Modèle d'entreprise: relations avec les clients

Partenariats de clients stratégiques à long terme

Baker Hughes maintient des partenariats stratégiques avec 98 des 100 meilleures sociétés d'énergie mondiales à partir de 2023. La durée du contrat moyenne de la société est de 5 à 7 ans dans le secteur du pétrole et du gaz.

Type de partenariat	Nombre de clients majeurs	Valeur du contrat annuel
Corporations énergétiques mondiales	98	2,4 milliards de dollars
Compagnies pétrolières nationales	37	1,6 milliard de dollars
Partenaires d'exploration offshore	22	890 millions de dollars

Services de support technique et de consultation

Baker Hughes fournit un support technique complet avec une couverture mondiale 24/7 dans 120 pays.

• Temps de réponse moyen: 2,3 heures
• Personnel de soutien technique: 3 700 ingénieurs spécialisés
• Investissement annuel dans l'infrastructure de soutien: 214 millions de dollars

Mise en œuvre de la technologie personnalisée

Baker Hughes livre solutions technologiques sur mesure avec des stratégies de mise en œuvre spécifiques pour différents segments de clients.

Segment technologique	Solutions personnalisées développées	Taux de réussite de la mise en œuvre
Technologies pétrolières numériques	47	92%
Systèmes d'optimisation de forage	33	88%

Programmes d'optimisation des performances en cours

Baker Hughes met en œuvre des programmes continus de surveillance et d'optimisation des performances pour les clients.

• Contrats d'optimisation des performances: 64 programmes actifs
• Amélioration moyenne de l'efficacité: 17,5%
• Économies annuelles générées pour les clients: 376 millions de dollars

Outils de plate-forme numérique et d'engagement client

Baker Hughes utilise des plates-formes numériques avancées pour une interaction améliorée et une prestation de services.

Plate-forme numérique	Utilisateurs actifs	Interactions numériques annuelles
Portail client Baker Hughes	2 300 clients d'entreprise	1,4 million
Systèmes de surveillance à distance	1 800 déploiements actifs	3,2 millions d'échanges de données

Baker Hughes Company (BKR) - Modèle d'entreprise: canaux

Équipes de vente directes

Baker Hughes maintient plus de 1 200 représentants des ventes directes dans le monde dans 120 pays. Taille de l'équipe de vente en 2023: 3 458 professionnels. Revenus de vente annuelle moyens par représentant: 4,2 millions de dollars.

Région	Taille de l'équipe de vente	Couverture annuelle
Amérique du Nord	687	1,6 milliard de dollars
Moyen-Orient	412	1,3 milliard de dollars
Europe	276	825 millions de dollars
Asie-Pacifique	345	1,1 milliard de dollars

Plateformes de marketing numérique

Budget de marketing numérique en 2023: 42,5 millions de dollars. Métriques d'engagement en ligne:

• LinkedIn adepte: 286 000
• Abonnés Twitter: 132 000
• Visiteurs mensuels du site Web: 1,2 million
• Génération de leads numérique: 18 700 prospects qualifiés

Conférences et salons commerciaux de l'industrie

Participation annuelle de la conférence: 37 événements internationaux majeurs. Investissement total dans le marketing des salons commerciaux: 8,3 millions de dollars en 2023.

Type d'événement	Nombre d'événements	Portée totale
Conférences internationales	12	45 000 participants
Salons régionaux	25	76 500 participants

Portails de support technique en ligne

Statistiques de la plate-forme de support technique:

• Disponibilité du support 24/7
• Interactions de soutien annuel: 126 000
• Temps de réponse moyen: 17 minutes
• Évaluation de satisfaction du client: 94,3%

Réseau mondial de bureaux de vente régionaux

Distribution du bureau régional: 87 emplacements de vente dédiés dans le monde. Budget opérationnel de bureau régional total: 62,4 millions de dollars en 2023.

Région	Nombre de bureaux	Revenus régionaux annuels
Amérique du Nord	24	4,7 milliards de dollars
l'Amérique latine	15	1,9 milliard de dollars
Europe / CIS	18	2,6 milliards de dollars
Moyen-Orient / Afrique	16	3,2 milliards de dollars
Asie-Pacifique	14	2,8 milliards de dollars

Baker Hughes Company (BKR) - Modèle d'entreprise: segments de clientèle

Grandes sociétés internationales de pétrole et de gaz

Baker Hughes dessert les grandes sociétés mondiales de pétrole et de gaz avec des revenus annuels dépassant 50 milliards de dollars. Les clients clés comprennent:

Entreprise	Revenus annuels	Opérations mondiales
Exxonmobil	413,7 milliards de dollars	Plus de 55 pays
Coquille	383,6 milliards de dollars	70+ pays
Chevron	236,4 milliards de dollars	Plus de 45 pays

Corporations nationales de pétrole

Baker Hughes fournit une technologie et des services aux sociétés énergétiques publiques du monde entier.

Corporation	Pays	Production de pétrole annuelle
SAUDI ARAMCO	Arabie Saoudite	9,6 millions de barils / jour
Pemex	Mexique	1,7 million de barils / jour
Pastrobras	Brésil	2,8 millions de barils / jour

Entreprises d'exploration et de production indépendantes

Baker Hughes soutient les sociétés d'exploration énergétique de taille moyenne et indépendantes.

• Taille totale du segment du marché: 150 milliards de dollars
• Budget d'exploration annuel moyen: 25 à 50 millions de dollars par entreprise
• Focus géographique: Amérique du Nord, Amérique latine, Moyen-Orient

Développeurs d'énergies renouvelables

Baker Hughes fournit des solutions technologiques pour les infrastructures d'énergie renouvelable.

Secteur renouvelable	Investissement mondial	Services Baker Hughes
Énergie éolienne	303 milliards de dollars	Technologie des turbines
Énergie solaire	252 milliards de dollars	Solutions d'infrastructure
Hydrogène vert	42 milliards de dollars	Conseil technique

Projets d'infrastructure énergétique industrielle

Baker Hughes soutient le développement des infrastructures énergétiques à grande échelle.

• Investissement total d'infrastructure: 500 milliards de dollars par an
• Types de projet: terminaux de GNL, plates-formes offshore, réseaux de pipelines
• Valeur moyenne du projet: 100-500 millions de dollars

Baker Hughes Company (BKR) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

Baker Hughes a investi 815 millions de dollars dans les dépenses de recherche et de développement en 2022, ce qui représente 4,2% des revenus totaux.

Année	Investissement en R&D	Pourcentage de revenus
2022	815 millions de dollars	4.2%
2021	752 millions de dollars	4.0%

Dépenses opérationnelles mondiales

Baker Hughes a déclaré des dépenses d'exploitation totales de 18,6 milliards de dollars en 2022.

• Frais de vente, générale et administrative: 3,2 milliards de dollars
• Coût des marchandises vendues: 15,4 milliards de dollars

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour Baker Hughes étaient d'environ 285 millions de dollars en 2022.

Catégorie d'infrastructure	Coût de maintenance annuel
Systèmes numériques	125 millions de dollars
Infrastructure matérielle	95 millions de dollars
Systèmes de cybersécurité	65 millions de dollars

Formation de la main-d'œuvre et acquisition de talents

Baker Hughes a dépensé 92 millions de dollars pour la formation de la main-d'œuvre et le développement des talents en 2022.

• Programmes de formation des employés: 52 millions de dollars
• Recrutement et acquisition de talents: 40 millions de dollars

Coûts de fabrication et de prestation de services

Les frais de fabrication et de prestation de services ont totalisé 12,7 milliards de dollars en 2022.

Segment de fabrication	Coût
Fabrication d'équipement de champ pétrolifère	6,3 milliards de dollars
Turbomachinerie & Traiter des solutions	4,2 milliards de dollars
Solutions numériques	2,2 milliards de dollars

Baker Hughes Company (BKR) - Modèle d'entreprise: Strots de revenus

Ventes et location d'équipement

Baker Hughes a déclaré que les ventes d'équipements totaux de 6,2 milliards de dollars en 2022. Le segment d'équipement de champ pétrolifère de la société a généré un chiffre d'affaires de 4,8 milliards de dollars la même année.

Catégorie d'équipement	Revenus (2022)	Part de marché
Équipement de forage	2,1 milliards de dollars	18.5%
Équipement de complétion	1,7 milliard de dollars	15.3%
Équipement de production	1,4 milliard de dollars	12.7%

Contrats de service et conseil

Baker Hughes a généré 8,3 milliards de dollars par rapport aux contrats de service en 2022, ce qui représente 42% du total des revenus de l'entreprise.

• Revenus de services en amont: 5,6 milliards de dollars
• Revenus de services intermédiaires: 1,7 milliard de dollars
• Revenus de services de conseil: 1 milliard de dollars

Solutions technologiques numériques

Les revenus de la technologie numérique ont atteint 1,2 milliard de dollars en 2022, avec une croissance de 15% sur l'autre.

Type de solution numérique	Revenu	Taux de croissance
Plates-formes numériques industrielles	620 millions de dollars	12%
Solutions basées sur le cloud	380 millions de dollars	18%
Services d'IA et d'analyse	200 millions de dollars	22%

Assistance et maintenance du marché secondaire

Les revenus du marché secondaire ont totalisé 3,5 milliards de dollars en 2022, avec un réseau de services mondial couvrant 120 pays.

• Contrats de maintenance de l'équipement: 2,1 milliards de dollars
• Ventes de pièces de rechange: 1,4 milliard de dollars

Licence de technologie de transition énergétique

Baker Hughes a obtenu 450 millions de dollars de la licence de technologie de transition énergétique en 2022.

Zone technologique	Revenus de licence	Marchés clés
Technologies à faible teneur en carbone	250 millions de dollars	Amérique du Nord, Europe
Solutions de capture de carbone	120 millions de dollars	Moyen-Orient, Asie
Technologies d'hydrogène	80 millions de dollars	Europe, Amérique du Nord

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.