Filing Flows

Filing Flows › Companies › Baker Hughes › Cash flow

Baker Hughes cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$734M in Q3 2026 · $3.2B over twelve months

Operating cash flow$1.0B
Capital spending−$271M
Free cash flow+$734M
Cash / net income2.4×

Analysis

In Q3 2026, Baker Hughes generated $1.0B of operating cash flow and spent $271M on capital projects, leaving free cash flow of $734M. That is $100M more than in Q3 2025 ($634M).

Over the twelve months to Sep 30, 2026, operating cash flow was $4.5B; the largest uses were acquisitions ($14.2B), capital spending ($1.3B), dividends ($911M); besides operations, cash came from other financing ($11.6B), asset & business sales ($1.7B); the cash balance rose by $1.4B.

Operating cash flow was $1.0B against net income of $422M — 2.4× profit, cash ran ahead of reported earnings. The largest differences: deferred revenue +$698M, receivables −$545M, depreciation & amortization +$505M.

Free cash flow

Baker Hughes: free cash flow by quarterBaker Hughes: free cash flow by quarter$837MQ4 2024$409MQ1 2025$209MQ2 2025$634MQ3 2025$1.3BQ4 2025$164MQ1 2026$1.0BQ2 2026$734MQ3 2026
Operating cash flow less capital spending.
Baker Hughes: operating cash flow against capital spendingBaker Hughes: operating cash flow against capital spendingOperating cash flowCapital spending$1.2B$353MQ4 2024$709M$300MQ1 2025$510M$301MQ2 2025$929M$295MQ3 2025$1.7B$377MQ4 2025$500M$336MQ1 2026$1.3B$300MQ2 2026$1.0B$271MQ3 2026
Latest (Q3 2026): Operating cash flow $1.0B, Capital spending $271M.

Capital allocation, year by year

Baker Hughes: where the cash came from (up) and went (down), by fiscal yearBaker Hughes: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $2.4BFY2021: Net borrowing −$895MFY2021: Asset sales $385MFY2021: Capital spending −$856MFY2021: Acquisitions −$87.0MFY2021: Buybacks −$434MFY2021: Dividends −$592M$2.8BFY2021FY2022: Operating cash flow $1.9BFY2022: Net borrowing −$28.0MFY2022: Asset sales $217MFY2022: Capital spending −$989MFY2022: Acquisitions −$767MFY2022: Buybacks −$828MFY2022: Dividends −$726M$2.1BFY2022FY2023: Operating cash flow $3.1BFY2023: Net borrowing −$651MFY2023: Asset sales $501MFY2023: Capital spending −$1.2BFY2023: Acquisitions −$301MFY2023: Buybacks −$538MFY2023: Dividends −$786M$3.6BFY2023FY2024: Operating cash flow $3.3BFY2024: Net borrowing −$143MFY2024: Asset sales $203MFY2024: Capital spending −$1.3BFY2024: Buybacks −$484MFY2024: Dividends −$836M$3.5BFY2024FY2025: Operating cash flow $3.8BFY2025: Asset sales $195MFY2025: Capital spending −$1.3BFY2025: Acquisitions −$830MFY2025: Buybacks −$384MFY2025: Dividends −$910M$4.0BFY2025
Over these 5 years operating cash flow totalled $14.5B; the largest uses were capital spending ($5.6B) and dividends ($3.9B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$4.1B
Debt$18.3B
Net debt$14.2B
Due within a year$689M

Baker Hughes funds itself: free cash flow was $3.2B over the last twelve months, and $4.1B of cash and investments stands against $18.3B of debt ($689M due within a year, 5.9× covered by cash).

Baker Hughes: debt maturities by year (FY2025)Baker Hughes: debt maturities by year (FY2025)$689MYear 1$1.4BYear 2$55.0MYear 3$821MYear 4$514MYear 5$2.6BAfter year 5
Principal due in each year as disclosed in the annual report, against $4.1B of cash and investments now.

Where the cash came from and went

Baker Hughes: sources (+) and uses (−) of cash, Q3 2026Baker Hughes: sources (+) and uses (−) of cash, Q3 2026Other investing−$14.1BCash drawn (+) / kept (−)$11.7BNet borrowing (+) / repaid (−)$2.0BOperating cash flow$1.0BCapital spending−$271MDividends−$228MOther financing−$154MAsset & business sales$104MExchange rates−$6.0M
Baker Hughes: sources (+) and uses (−) of cash, TTM to Q3 2026Baker Hughes: sources (+) and uses (−) of cash, TTM to Q3 2026Acquisitions−$14.2BOther financing$11.6BOperating cash flow$4.5BAsset & business sales$1.7BCash drawn (+) / kept (−)−$1.4BCapital spending−$1.3BDividends−$911MOther investing$18.0MExchange rates$11.0M

From profit to cash

Baker Hughes: net income to operating cash flow, Q3 2026Baker Hughes: net income to operating cash flow, Q3 2026Net income$422MDepreciation & amortization$505MStock-based pay$57.0MDeferred taxes−$244MOther non-cash$5.0MReceivables−$545MInventory−$70.0MPayables$63.0MDeferred revenue$698MOther operating capital$271MOperating cash flow$1.0B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$1.0B−$271M——−$228M$2.0B$11.7B$734M
Q2 2026$1.3B−$300M——−$228M—−$963M$1.0B
Q1 2026$500M−$336M——−$228M$9.9B−$11.0B$164M
Q4 2025$1.7B−$377M−$30.0M—−$227M—−$1.0B$1.3B
Q3 2025$929M−$295M——−$227M—$394M$634M
Q2 2025$510M−$301M—−$196M−$227M—$190M$209M
Q1 2025$709M−$300M—−$188M−$229M—$87.0M$409M
Q4 2024$1.2B−$353M—−$8.0M−$208M−$9.0M−$700M$837M

Baker Hughes: income statement and cash flow

Baker Hughes, Q3 2026: revenue $8.0B (+14% year over year), operating margin 6.5%. The chart follows the revenue to costs, profit and cash.

Baker Hughes: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.