BKR vs SLB: Baker Hughes and Schlumberger NV compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Schlumberger NV is the larger company, worth $75.6B, about 1.4 times Baker Hughes.
- Schlumberger NV grew revenue faster over the last year (+5.0% vs -2.4%).
- On earnings, Baker Hughes is the cheaper stock (17.8x vs 22.3x).
- Baker Hughes's price assumes faster free cash flow growth: about 6% a year, against 2% for Schlumberger NV (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BKR | SLB |
|---|---|---|
| Market cap | $55.1B | $75.6B |
| Share price | $56.70 | $48.95 |
| Revenue (last fiscal year) | $27.7B | $35.7B |
| Free cash flow (last fiscal year) | $2.5B | $4.8B |
| Revenue growth, last year | -2.4% | +5.0% |
| Revenue growth per year, last 5 fiscal years | +7.8% | +11.7% |
| Operating margin | — | — |
| Net margin | 11.2% | 8.5% |
| Return on equity | 15.6% | 11.9% |
| P/E (trailing) | 17.8x | 22.3x |
| Price / free cash flow | 21.7x | 15.8x |
| EV / EBITDA | 11.7x | 11.6x |
| FCF growth the price implies | 6.1% | 1.9% |
| Dividend yield | 1.6% | 2.3% |
| Debt / equity | 1.63x | 1.08x |
| Fundamental grade | C | D |
| Superinvestors holding it | 6 | 0 |
| Insider purchases, last 12 months | 2 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Baker Hughes
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $20.5B | $1.5B | 6.4% |
| 2022 | $21.2B | $899M | 5.6% |
| 2023 | $25.5B | $1.8B | 9.1% |
| 2024 | $27.8B | $2.1B | 11.1% |
| 2025 | $27.7B | $2.5B | — |
Schlumberger NV
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $22.9B | $3.5B | 14.7% |
| 2022 | $28.1B | $2.1B | 17.8% |
| 2023 | $33.1B | $4.7B | 19.7% |
| 2024 | $36.3B | $4.7B | — |
| 2025 | $35.7B | $4.8B | — |
Where the revenue comes from
Baker Hughes · by segments, 2025
Oilfield Services & Equipment$14.3B52%
Industrial & Energy Technology$13.4B48%
Schlumberger NV · by segments, 2025
Production Systems$13.3B36%
Well Construction$11.9B32%
Reservoir Performance$6.8B19%
Digital Integration$2.7B7%
All Other$2.0B5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BKR in InvestinglyQuestions
Which is bigger, Baker Hughes or Schlumberger NV?
Schlumberger NV (SLB), at $75.6B against $55.1B.
Is BKR or SLB cheaper?
By trailing P/E, Baker Hughes (17.8x) is cheaper than Schlumberger NV (22.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, BKR or SLB?
Schlumberger NV: revenue grew +5.0% over the last year, against -2.4%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.