BKR vs TS: Baker Hughes and Tenaris SA ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Baker Hughes is the larger company, worth $55.1B, about 2.0 times Tenaris SA ADR.
- Baker Hughes grew revenue faster over the last year (-2.4% vs -4.3%).
- On earnings, Baker Hughes is the cheaper stock (17.8x vs 31.3x).
- Baker Hughes's price assumes faster free cash flow growth: about 6% a year, against 0% for Tenaris SA ADR (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 | TS |
|---|---|---|
| Market cap | $55.1B | $27.7B |
| Share price | $56.70 | $57.34 |
| Revenue (last fiscal year) | $27.7B | $12.0B |
| Free cash flow (last fiscal year) | $2.5B | $2.0B |
| Revenue growth, last year | -2.4% | -4.3% |
| Revenue growth per year, last 5 fiscal years | +7.8% | +16.4% |
| Operating margin | — | 19.1% |
| Net margin | 11.2% | 16.1% |
| Return on equity | 15.6% | 11.6% |
| P/E (trailing) | 17.8x | 31.3x |
| Price / free cash flow | 21.7x | 14.0x |
| EV / EBITDA | 11.7x | 8.58x |
| FCF growth the price implies | 6.1% | 0.29% |
| Dividend yield | 1.6% | 3.2% |
| Debt / equity | 1.63x | 0.20x |
| Fundamental grade | C | C |
| Superinvestors holding it | 6 | 0 |
| Insider purchases, last 12 months | 2 | 0 |
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 | — |
Tenaris SA ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.5B | -$120M | 10.8% |
| 2022 | $11.8B | $789M | 25.2% |
| 2023 | $14.9B | $3.8B | 29.0% |
| 2024 | $12.5B | $2.2B | 19.3% |
| 2025 | $12.0B | $2.0B | 19.1% |
Where the revenue comes from
Baker Hughes · by segments, 2025
Oilfield Services & Equipment$14.3B52%
Industrial & Energy Technology$13.4B48%
Tenaris SA ADR · by segments, 2025
Tubes$11.4B95%
Other$581M5%
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 Tenaris SA ADR?
Baker Hughes (BKR), at $55.1B against $27.7B.
Is BKR or TS cheaper?
By trailing P/E, Baker Hughes (17.8x) is cheaper than Tenaris SA ADR (31.3x). A lower multiple can also mean the market expects less growth.
Which grows faster, BKR or TS?
Baker Hughes: revenue grew -2.4% over the last year, against -4.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.