BKR vs EQNR vs PLUG Stock Comparison

Baker Hughes, Equinor Asa and Plug Power Prices as of Oct 23, 2026 Peers: Industry group
BKR Baker Hughes Co
$55.86 -3.7% 1M +14.3% 1Y
Market cap
$55.58B
P/E
18.0x
Revenue (TTM)
$27.73B
Div. yield
0.02%
Oilfield Services Energy
3 wins
EQNR Equinor Asa
$48.81 +13.7% 1M +95.5% 1Y
Market cap
$124.80B
P/E
15.6x
Revenue (TTM)
$114.42B
Div. yield
–
Integrated Oil and Gas Energy
7 wins
PLUG Plug Power Inc
$1.38 -32.4% 1M -52.1% 1Y
Market cap
$1.91B
P/E
–
Revenue (TTM)
$744.09M
Div. yield
–
Hydrogen Energy
1 win

Head to Head

11 decided of 12

Equinor Asa leads on 7 of the 12 questions below (Equinor Asa 7, Baker Hughes 3, Plug Power 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBKREQNRPLUGLeader
Larger companyMarket capitalisation $55.58B $124.80B $1.91B EQNR
Cheaper on earningsLower P/E, profitable companies only 18.0x 15.6x -1.2x EQNR
Cheaper on forward earningsLower price / next fiscal year consensus EPS 22.3x 9.1x — EQNR
Faster revenue growthRevenue growth, trailing twelve months +0.4% +5.8% +10.6% PLUG
More profitableNet margin, trailing twelve months 11.2% 7.0% -220.6% BKR
Better return on capitalReturn on invested capital 8.9% 47.7% -188.4% EQNR
Less leveragedLower net debt / EBITDA 0.1x 0.0x 0.1x EQNR
Higher dividend yieldTrailing dividend yield 0.02% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months +14.3% +95.5% -52.1% EQNR
Better 5-year returnAnnualised price return, 5 years +17.8%/yr +12.1%/yr -46.9%/yr BKR
Less volatileAnnualised volatility, 1 year 33.4% 39.0% 78.1% BKR
Higher overall scoreMean of the five percentile scores vs peers 54/100 67/100 23/100 EQNR

Percentile Scorecard

BKREQNRPLUG

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBKREQNRPLUG
Valuation 37 #30 of 47 81 #20 of 99 0 #11 of 11
Growth 65 #16 of 44 57 #42 of 97 70 #4 of 11
Profitability 78 #10 of 41 81 #19 of 96 0 #9 of 9
Financial Health 49 #24 of 46 56 #45 of 102 20 #9 of 11
Shareholder Returns 42 #19 of 32 59 #32 of 76 –
Overall 54 67 23
  • BKR ranked among 48 companies in Oilfield Services and Equipment
  • EQNR ranked among 103 companies in Oil and Gas Upstream
  • PLUG ranked among 11 companies in Renewable Fuels

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBKREQNRPLUGSPY
1 month -3.7%+13.7%-32.4% -1.0%
3 months -2.4%+21.0%-34.0% +2.9%
6 months -19.0%+28.7%-56.1% +6.4%
Year to date +22.7%+106.6%-29.9% +11.4%
1 year +14.3%+95.5%-52.1% +13.1%
3 years +62.0%+47.8%-78.1% +79.4%
3 years, per year +17.5%+13.9%-39.7% +21.5%
5 years +126.7%+76.8%-95.8% +67.7%
5 years, per year +17.8%+12.1%-46.9% +10.9%
10 years —+195.5%-14.8% +255.2%
10 years, per year —+11.4%-1.6% +13.5%

Risk

MeasureBKREQNRPLUGSPY
Volatility, 1Y 33.4%39.0%78.1% 12.7%
Downside volatility, 1Y 34.3%38.6%70.2% 12.7%
Beta vs S&P 500, 1Y 0.65-1.092.25 1.00
Return / volatility, 1Y 0.432.45-0.67 1.03
Max drawdown, 5Y -47.2%-47.8%-98.4% -25.4%
From 52-week high -19.8%0.0%-66.7% -2.5%
52-week high $69.67$48.81$4.14 $779.14
52-week low $44.47$22.41$1.37 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBKREQNRPLUG
P/E now vs peer median 17.9xmedian 25.5x 15.8xmedian 13.1x -1.2xmedian 10.9x
P/S now vs peer median 2.0xmedian 1.2x 1.1xmedian 2.0x 2.6xmedian 1.2x
EV/EBITDA now vs peer median 11.5xmedian 8.8x 2.8xmedian 5.7x -1.4xmedian 14.0x
P/FCF now vs peer median 17.7xmedian 14.7x 12.7xmedian 11.1x -3.4xmedian 14.1x
P/B now vs peer median 2.8xmedian 1.6x 2.8xmedian 1.5x 3.3xmedian 1.1x
PEG now vs peer median 0.45median 0.41 —median 2.24 -0.21median 0.19

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBKREQNRPLUG
Revenue $27.73B $114.42B $744.09M
Gross profit $6.58B – -$138.00M
Operating income $3.59B $32.53B -$1.29B
Net income $3.12B $9.05B -$1.71B
Free cash flow $3.13B $9.58B -$560.50M
R&D $569.00M $880.00M $53.94M
EPS (diluted) $3.11 $3.08 $-1.18
Cash & equivalents $15.73B $8.06B $161.90M
Total debt $16.25B $105.13B $65.78M
Shares (diluted) 997.00M 2.60B 1.39B
Enterprise value $18.68B $39.26B $986.42M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBKREQNRPLUG
P/E 17.9x 15.8x -1.2x
P/FCF 17.7x 12.7x -3.4x
P/Operating cash flow 12.5x 5.3x -4.0x
P/S 2.0x 1.1x 2.6x
P/B 2.8x 2.8x 3.3x
P/Tangible book 3.4x 2.8x 3.4x
EV/EBITDA 11.5x 2.8x -1.4x
EV/EBIT 15.6x 3.8x -1.4x
EV/Revenue 2.0x 1.1x 2.4x
EV/FCF 17.9x 12.8x -3.2x
EV/Operating cash flow 12.6x 5.3x -3.7x
PEG (3Y EPS CAGR) 0.45 – -0.21

Growth

14 metrics
MetricBKREQNRPLUG
Revenue growth (1Y) 0.4% 5.8% 10.6%
Revenue CAGR (3Y) 6.0% – -5.4%
Gross profit growth (1Y) -0.9% – 70.1%
Gross profit CAGR (3Y) 5.8% – 20.4%
Operating income growth (1Y) 9.7% 7.6% 31.3%
Operating income CAGR (3Y) 23.9% – -15.4%
Net income growth (1Y) 1.3% 10.0% 13.3%
Net income CAGR (3Y) 39.1% – -26.9%
EPS growth (1Y) 1.0% 24.1% 32.5%
EPS CAGR (3Y) 39.9% – 5.5%
Operating cash flow growth (1Y) 29.7% 15.5% 20.0%
Operating cash flow CAGR (3Y) 16.4% – 22.8%
Free cash flow growth (1Y) 44.5% 39.6% 31.6%
Free cash flow CAGR (3Y) 21.8% – 30.6%

Profitability

14 metrics
MetricBKREQNRPLUG
Gross margin 23.7% – -18.5%
EBITDA margin 17.6% 38.9% -168.2%
Operating margin 12.9% 28.4% -172.8%
Pretax margin 12.7% 29.0% -229.0%
Net margin 11.2% 7.0% -220.6%
FCF margin 11.3% 8.4% -75.3%
Operating cash flow margin 16.0% 20.2% -64.9%
Return on equity 15.8% 20.9% -251.3%
Return on assets 6.0% 658.7% -75.0%
Return on invested capital 8.9% 47.7% -188.4%
Return on capital employed 9.7% – -72.0%
Asset turnover 0.5x 83.3x 0.3x
Cash conversion (OCF / net income) 1.4x 2.6x 0.3x
Stock comp / revenue 0.7% – 7.2%

Financial Health

11 metrics
MetricBKREQNRPLUG
Debt / assets 30.9% 1,784% 0.0%
Debt / equity 0.8x 0.6x 0.0x
Net debt / EBITDA 0.1x 0.0x 0.1x
Debt / FCF 5.2x 2.5x 0.0x
Liabilities / assets 61.8% -3,046% 73.2%
Equity / assets 38.2% 3,146% 26.8%
Interest coverage – – -17.9x
Current ratio 2.1x 1.2x 2.3x
Quick ratio 1.7x 0.9x 0.8x
Cash ratio 1.1x 0.6x 0.3x
Altman Z-score 2.10 – -6.07

Shareholder Returns

7 metrics
MetricBKREQNRPLUG
Dividend yield 1.6% 3.1% –
Net buyback yield – – -2.5%
Shareholder yield 1.6% 3.1% -2.5%
Payout ratio (earnings) 29.1% – –
Payout ratio (FCF) 29.1% – –
Dividend growth (1Y) 4.2% – –
Dividend CAGR (3Y) 6.4% – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBKREQNRPLUG
Forward P/E 22.3xFY2026 9.1xFY2026 –
EPS, next fiscal year $2.50FY2026 $5.34FY2026 $-0.41FY2026
EPS growth, next FY -3.8%FY2026 +116.2%FY2026 –
EPS growth, the year after +12.0% -17.6% –
Revenue, next fiscal year $30.78BFY2026 $120.34BFY2026 $799.33MFY2026
Revenue growth, next FY +11.0%FY2026 +13.7%FY2026 +12.6%FY2026
Revenue growth, the year after -2.3% -2.1% +28.0%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBKREQNRPLUG
Held by institutions 97.2% 6.6% 58.3%
Institutions holding 1,148 409 508
Change in shares held, QoQ +5.2% +1.8% +8.0%
Institutions buying 576 230 276
Institutions selling 429 115 105
Buyers to sellers 1.34 2.00 2.63

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BKREQNRPLUG
BKR 1.00 0.20 0.06
EQNR 0.20 1.00 -0.04
PLUG 0.06 -0.04 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BKR, EQNR and PLUG?

Equinor Asa (EQNR) is the largest by market capitalisation: Baker Hughes (BKR) $55.58B, Equinor Asa (EQNR) $124.80B, Plug Power (PLUG) $1.91B.

Which stock is cheaper, BKR, EQNR and PLUG?

Equinor Asa (EQNR) trades on the lowest price-to-earnings ratio (Baker Hughes (BKR) 18.0x, Equinor Asa (EQNR) 15.6x, Plug Power (PLUG) -1.2x). On next year's consensus earnings, Equinor Asa (EQNR) is cheapest (Baker Hughes (BKR) 22.3x, Equinor Asa (EQNR) 9.1x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Plug Power (PLUG) grew revenue fastest over the trailing twelve months: Baker Hughes (BKR) +0.4%, Equinor Asa (EQNR) +5.8%, Plug Power (PLUG) +10.6%.

Which company is more profitable?

Baker Hughes (BKR) has the highest net margin (Baker Hughes (BKR) 11.2%, Equinor Asa (EQNR) 7.0%, Plug Power (PLUG) -220.6%). On return on invested capital, Equinor Asa (EQNR) leads (Baker Hughes (BKR) 8.9%, Equinor Asa (EQNR) 47.7%, Plug Power (PLUG) -188.4%).

Which stock has performed better?

Over the past year Equinor Asa (EQNR) returned the most: Baker Hughes (BKR) +14.3%, Equinor Asa (EQNR) +95.5%, Plug Power (PLUG) -52.1%. Over five years, Baker Hughes (BKR) compounded fastest (Baker Hughes (BKR) +17.8%/yr, Equinor Asa (EQNR) +12.1%/yr, Plug Power (PLUG) -46.9%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Baker Hughes (BKR) 0.02%, Equinor Asa (EQNR) 0.00%, Plug Power (PLUG) 0.00%. Equinor Asa (EQNR) and Plug Power (PLUG) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Baker Hughes (BKR) has been the steadiest (Baker Hughes (BKR) 33.4%, Equinor Asa (EQNR) 39.0%, Plug Power (PLUG) 78.1%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BKR, EQNR and PLUG?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Equinor Asa (EQNR) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.