Chart Industries, Inc. (acquired by Baker Hughes) research snapshot
GTLS AI stock analysis is now a completed-transaction review rather than a live trading forecast. Baker Hughes completed its all-cash acquisition of Chart Industries on July 16, 2026, and the GTLS ticker was delisted the same day. Chart's final quoted trade was $209.90 on July 15, 2026, effectively pinned to the $210.00 cash consideration that eligible GTLS shareholders are entitled to receive under the merger agreement. The former Chart business now operates as Baker Hughes' third reporting segment, and the ongoing stock exposure for investors who want to stay involved is through BKR, not GTLS. This page is an informational research tool and is not investment advice.
Current price
$209.90 last trade before the July 16, 2026 delisting; holders entitled to $210.00 cash
Market cap
About $10.05 billion at the final quoted price
AI score
72 / 100
Rating
Acquisition completed: GTLS equity was converted into the right to receive $210.00 cash per share
Trend status
Delisted July 16, 2026 after the Baker Hughes merger closed; ongoing exposure is now through BKR
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Chart designs and builds engineered tanks, heat-transfer systems, cryogenic equipment, compression, and repair, service, and leasing solutions used across LNG, industrial gases, hydrogen, carbon capture, water, power, and data-center cooling. The quality of the underlying business remains intact as it moves into Baker Hughes. | High |
| Moat | Custom engineering, process know-how, customer qualification, installed equipment, lifecycle service, and a global manufacturing and service footprint create switching friction. The moat is technical and relationship-based rather than a consumer network effect. | Medium-high |
| Management | Chart shareholders voted to approve the Baker Hughes sale in October 2025, and Baker Hughes closed the deal in July 2026 with Jim Apostolides named to lead the new Chart segment. Integration execution and the $325 million cost synergy target are the new management tests. | Medium |
| Financial trend | Revenue grew from $1.32 billion in 2021 to $4.26 billion in 2025, but Q1 2026 sales fell 11.7% year over year to $884.8 million and net income attributable to Chart turned into a $17.1 million loss. These results now form the standalone baseline BKR absorbed. | High |
| Valuation | At the final $209.90 quote, GTLS traded at a 0.05% discount to the $210.00 cash consideration. TTM GAAP EPS was negative and TTM free cash flow per share was only about $0.21, so trailing PE and P/FCF were not reliable standalone anchors before the close. | High data confidence |
| Technical trend | The final GTLS snapshot placed the price above the 50-day moving average of $208.02 and the 200-day moving average of $205.87, with RSI at 68.29. The $210 merger consideration was the practical ceiling, and the chart is now historical because the ticker was delisted. | Medium-high |
| Risk level | For GTLS holders, the largest deal-specific risk (failed closing) did not materialize. The residual risks moved to BKR: integration execution, the $325 million synergy target, higher post-acquisition leverage, tariff and mix pressure, and cyclical end-market demand. | High |
| AI confidence | The evidence base is strong for the completed transaction, the consideration, and reported results. A model cannot reliably price BKR integration outcomes, synergy realization, or future BKR share moves. | High on facts, medium on BKR scenarios |
| Investment certainty | Medium for GTLS holders because the $210.00 cash consideration was contractually delivered as the deal closed. The former Chart assets now carry BKR execution risk, so the long-term outcome depends on the acquirer, not a standalone GTLS valuation. | Medium |
GTLS AI stock forecast
The GTLS AI stock forecast is now a completed-transaction review. Baker Hughes closed its all-cash acquisition on July 16, 2026, and eligible GTLS shareholders became entitled to $210.00 cash per share, so there is no active GTLS price to forecast. Forward scenarios therefore apply to BKR, the surviving company that now owns the former Chart business as a third reporting segment, with $325 million of annualized cost synergies targeted by year three. BKR traded near $60.49 at the July 31, 2026 close. These BKR ranges are conditional scenarios, not price promises, and they do not replace the completed $210 cash outcome for GTLS holders.
$74 to $95
More likely if Chart cost synergies are captured faster than planned, record IET orders convert at strong margins, LNG and power systems demand stays firm, OFSE stabilizes, and Baker Hughes returns toward its 1.0x to 1.5x net leverage target ahead of schedule.
$60 to $74
More likely if EPS compounds at high single digits, record backlog converts on schedule, Chart integration stays on track without major disruption, and investors hold BKR near a 19x to 22x forward multiple.
$45 to $58
More likely if global upstream spending falls sharply, Middle East disruption spreads, Chart integration or synergy capture stalls, post-acquisition deleveraging drags, or order conversion runs behind the raised 2026 guidance.
GTLS AI technical analysis
GTLS AI technical analysis is now historical because GTLS was delisted on July 16, 2026 after the Baker Hughes acquisition closed. The final StockAnalysis snapshot, last checked around the July 16, 2026 delisting, showed a quoted price of $209.90, above the 50-day average of $208.02 and the 200-day average of $205.87, with RSI at 68.29. These levels are reference context for the completed spread, not live trading signals for an active GTLS listing. Investors seeking ongoing technical exposure should review BKR, the surviving company.
| Level | Value | Why it matters |
|---|---|---|
| Final quoted price | $209.90 | StockAnalysis showed a last trade of $209.90, within 0.10 dollars of the $210.00 cash consideration, before the July 16, 2026 delisting. |
| Cash consideration | $210.00 | The binding per-share consideration under the merger agreement. It acted as the practical ceiling for the spread and became the cash outcome for eligible holders. |
| Final near support | $207 to $208 | A planning zone around the reported 50-day moving average of $208.02 while GTLS still traded. It is historical context now. |
| Final secondary support | $200 to $205 | A deeper risk zone around the 200-day moving average of $205.87 and the psychological $200 level during the pre-close trading window. |
| Final resistance | $210.00 | The merger consideration capped ordinary upside. GTLS did not sustain a print above it before delisting. |
| Final moving averages | 50-day $208.02, 200-day $205.87 | StockAnalysis statistics as of the July 2026 snapshot. The price was above both averages before the delisting. |
| Final momentum | RSI 68.29 | Constructive but not overbought. Momentum mattered less when the announced cash deal capped the price. |
| Final volume | 1.34 million average shares over 20 days | The final snapshot showed about 1.34 million average shares, with heavier volume near the close as holders positioned ahead of the cash conversion. |
| Final volatility | Beta 1.53; 52-week change +26.15% | Historical beta suggested above-market volatility, but the merger anchor compressed realized range into the final weeks. |
| Invalidation | No active GTLS invalidation; monitor BKR | Because GTLS no longer trades, chart invalidation rules apply to BKR. Reassess BKR technicals, Chart integration progress, synergies, and leverage before trading. |
GTLS AI trading strategy
The GTLS AI trading strategy is a historical and post-acquisition framework, not personalized advice. Because GTLS was delisted on July 16, 2026, there is no active GTLS setup to trade. The strategy applies to BKR, the surviving company that owns the former Chart business, and to any investor reviewing the completed $210 cash outcome. Normal breakout rules do not apply to a delisted spread.
Use BKR as the tradable expression of the former Chart business. Treat BKR price above its 20-day, 50-day, and 200-day moving averages as a trend filter, and require Chart integration and order conversion evidence before extending a position.
Define the maximum acceptable loss before entry and invalidate the setup if BKR loses key support or if Chart integration, synergy, or leverage news turns adverse.
If BKR pulls back while IET orders, RPO conversion, Chart synergies, and deleveraging remain on track, compare the dip with current quotes, technical levels, and the latest filings rather than assuming a bargain.
Do not average down through integration or energy-cycle headlines. A wider discount may be compensation for real execution risk.
Track Baker Hughes quarterly results, Chart segment revenue and order conversion, the $325 million annualized synergy target, net leverage progress toward 1.0x to 1.5x, IET RPO, LNG and power awards, free cash flow, and any further Chart divestitures required by regulators.
Reduce confidence if Chart integration stalls, synergies fall short, leverage stays high, upstream spending falls sharply, or order conversion runs behind guidance.
Investment research summary
Chart built engineered equipment and lifecycle services for customers that handle gases and liquid molecules, with about $4.26 billion of revenue in 2025. The Duan Yongping question about whether this is a good standalone business was answered by Baker Hughes paying $210.00 cash per share; the business quality now depends on how Baker Hughes runs it.
Chart's moat was process engineering, product qualification, application knowledge, installed equipment, aftermarket relationships, and scale across more than 50 countries. Technical know-how and switching friction mattered more than brand or network effects. Buffett's question is whether Baker Hughes preserves that advantage during integration.
The old thesis could have failed through a terminated merger, tariffs, lower volumes, poor backlog conversion, cost overruns, working-capital absorption, customer concentration, or debt refinancing pressure. The closing removed the termination risk for GTLS holders; the failure paths now belong to BKR integration, synergy capture, and post-acquisition leverage.
Chart shareholders approved the Baker Hughes sale in October 2025, and Baker Hughes closed it on July 16, 2026 with Jim Apostolides appointed to lead the new Chart segment. The management test shifted from Chart deal execution to BKR integration discipline, the $325 million cost synergy target, and returning net leverage toward 1.0x to 1.5x within 24 months.
LNG, industrial gases, data-center cooling, hydrogen, carbon capture, nuclear, water treatment, and other process applications offered long-term demand. The trend is real but uneven, and project timing, customer capital spending, energy prices, tariffs, and technology adoption decide how much becomes revenue. Li Lu's question is whether the combined BKR platform makes Chart a durable infrastructure supplier of this transition.
At $209.90, GTLS was priced against the $210.00 cash consideration, so the merger spread, not a conventional multiple, set the margin of safety for holders. Verified TTM GAAP EPS was negative $1.02, book value per share was $65.95, and TTM free cash flow per share was about $0.21. For BKR, valuation is now about 19.5x trailing EPS, 21.6x forward EPS, and roughly 19x free cash flow, so the margin of safety depends on integration, synergies, and deleveraging rather than on a standalone Chart multiple.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| Acquisition completion and GTLS delisting | Baker Hughes announced the successful completion of its all-cash acquisition of Chart Industries on July 16, 2026. StockAnalysis marked GTLS delisted on July 16, 2026 for the reason "acquired by BKR", with a last trade of $209.90. | Baker Hughes closing press release and StockAnalysis GTLS quote and history pages | August 3, 2026 |
| Merger consideration and deal structure | The merger agreement provided $210.00 in cash per common share. Baker Hughes targets $325 million in annualized cost synergies by year three after close, and Chart now operates as Baker Hughes third reporting segment led by Jim Apostolides. | Baker Hughes closing press release | August 3, 2026 |
| S&P MidCap 400 index replacement | S&P Dow Jones Indices announced on July 14, 2026 that Chart Industries (GTLS) would be removed from the S&P MidCap 400 effective July 17, 2026, with BrightSpring Health Services replacing it, as Baker Hughes acquired Chart in a deal expected to close July 16. | S&P Dow Jones Indices announcement via PR Newswire | August 3, 2026 |
| Final GTLS price, shares, and market capitalization | $209.90 last trade, 47.87 million shares outstanding, and about $10.05 billion market capitalization at the final quote. Price multiplied by shares equals $10,047.9 million versus reported $10,050 million, a 0.02% variance verified with financial_rigor.py. | StockAnalysis GTLS statistics and financial_rigor.py market-cap verification | August 3, 2026 |
| FY2025 revenue and five-year financial trend | FY2025 revenue was $4,264.0 million, up 2.5% from $4,160.3 million in 2024. StockAnalysis shows revenue of $1,318 million in 2021, $1,612 million in 2022, $3,353 million in 2023, $4,160 million in 2024, and $4,264 million in 2025. | Chart Industries 2025 Form 10-K and StockAnalysis financials | August 3, 2026 |
| FY2025 profitability, adjusted earnings, and free cash flow | GAAP net income attributable to Chart was $40.7 million, adjusted EPS was $9.72, adjusted EBITDA was $1,014.3 million, and continuing-operations free cash flow was $204.8 million. The reported GAAP result included a $266.0 million Flowserve termination fee expense. | Chart Industries Q4 and full-year 2025 results release | August 3, 2026 |
| Q1 2026 operating results and backlog | Sales were $884.8 million versus $1,001.5 million in Q1 2025, net loss attributable to Chart was $17.1 million, cash used in continuing operations was $248.0 million, and backlog was $6,282.9 million versus $5,143.6 million a year earlier. | Chart Industries Form 10-Q for the quarter ended March 31, 2026 | August 3, 2026 |
| Cash, debt, and balance-sheet position | March 31, 2026 cash and cash equivalents were $267.9 million, total debt net of issuance costs was $3,786.8 million, and long-term debt was $3,786.7 million. FY2025 cash was $366.0 million and long-term debt was $3,565.0 million. | Chart Industries Q1 2026 Form 10-Q, FY2025 Form 10-K, and StockAnalysis balance sheet | August 3, 2026 |
| European Commission approval and closing status | The European Commission conditionally approved the acquisition on July 10, 2026 after Baker Hughes offered remedies, and Baker Hughes completed the transaction on July 16, 2026. All material closing conditions were satisfied. | Reuters EU decision report and Baker Hughes closing release | August 3, 2026 |
| BKR successor reference and Q2 2026 context | Baker Hughes closed at $60.49 on July 31, 2026, with a market cap of about $60.05 billion. Q2 2026 orders were $10.5 billion, revenue was $6.7 billion, adjusted EPS was $0.64, and the Chart acquisition was completed in July 2026. | StockAnalysis BKR quote and Baker Hughes Q2 2026 results release | August 3, 2026 |
| Final technical reference statistics | 50-day moving average $208.02, 200-day moving average $205.87, RSI 68.29, 20-day average volume about 1.34 million shares, beta 1.53, and 52-week price change +26.15%. | StockAnalysis GTLS statistics page | August 3, 2026 |
This GTLS AI stock analysis is an informational tool, not investment advice, an offer, or a recommendation to buy or sell any security. GTLS was acquired by Baker Hughes, closed on July 16, 2026, and was delisted. The $210.00 cash consideration and all scenario ranges are based on available data and assumptions, can be wrong, and may change. BKR trading levels, Chart integration, synergies, leverage, and market prices can change. Verify current information and consider qualified professional advice before making an investment decision.
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