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Bruker Corporation

BRKR Healthcare Medical Devices

Bruker Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.4 billion, up 2.08% from fiscal 2024.

Revenue
+1.57%
EPS
−75.4%
Free cash flow
+278.7%
Total debt
−14.7%

Quarter to September 2026, against a year earlier

61.51 3.45 +5.94%
Market cap
$8.9B
P/E
0.0×
Fwd P/E
−412×
Dividend yield
0.34%
F-score
4/9
Altman Z
2.43
Beneish M
−2.56
Dividend safety
34/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2024

  • BSI NANO
  • BSI CALID
  • BSI BioSpin
  • BEST

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 3.12
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 3 1 1 1 1 1 1 2 1 — —
Insider Ownership 27.21%

Capital & Financial Ratios $m

Size
Market Cap 8,850.00
Revenue ttm 3,513.10
Net income ttm (115.70)
Free cash flow ttm 244.70
Net debt Q 1,593.70
Valuation
P/E 0.00
Forward P/E (412.00) (negative: loss-making)
Price / sales 2.53
Forward P/S Powerpack
Price / FCF 32.93
Price / book 3.70
Financial health
Current ratio Q 1.84 (at or above 1.5: strong)
Debt / equity Q 0.74
Interest coverage Q —
Growth
Revenue growth Q +1.57% (above 0%: growing)
Operating income growth Q −75.68% (below 0%: shrinking)
EPS, this year +16.19% (at or above 15%: strong)
EPS, next year A +14.64%
Revenue, next year A +3.48%
EPS, past 5 yrs —
EPS, next 5 yrs A +15.25% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.0×, against a ten-year median of 3.3×; over the ten years it ranged from 1.9× in 2025 to 6.0× in 2021.
P/S against its own 10 years 25.05%
10-year low 10-year high
P/B against its own 10 years 13.02%
10-year low 10-year high
EV/Sales against its own 10 years 41.33%
10-year low 10-year high
EV/FCF against its own 10 years 45.03%
10-year low 10-year high

Dividends

Yield
0.34%
Annual rate
0.20
Payout ratio
—
Growth, 2017–25
+2.83%/yr
  1. 0.16 ’17
  2. 0.16 ’18 +0
  3. 0.16 ’19 +0
  4. 0.16 ’20 +0
  5. 0.16 ’21 +0
  6. 0.20 ’22 +25
  7. 0.20 ’23 +0
  8. 0.20 ’24 +0
  9. 0.20 ’25 +0
  10. 0.33 ’26e +65
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 488 183 299 120
Receivables 492 566 545 564
Inventory 968 1,068 1,095 1,103
Other 216 237 274 371
2,164 2,053 2,213 2,157
2023 2024 2025 Q'26
Payables 203 234 216 208
ST’ Debt 121 33 17 10
Other 478 577 605 525
1,202 1,281 1,279 1,172

Compound Annual Growth %

10y 5y 3y
Sales 7.79% 11.57% 10.74%
Cash Flow (5.22%) (16.59%) (21.23%)
Earnings 0.00% 0.00% 0.00%
Book Value 12.93% 20.48% 30.01%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.42 Actual 0.56

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.65 0.59 Miss by 0.06
Q1 FY26 0.23 0.31 Beat by 0.08
Q2 FY26 0.38 0.49 Beat by 0.11
Q3 FY26 0.42 0.56 Beat by 0.14
Q4 FY26 0.90 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.02 (0.41) (0.72) — —
’25 0.11 0.05 (0.41) 0.10 (0.15)
’24 0.35 0.05 0.27 0.09 0.76
’23 0.52 0.39 0.60 1.41 2.90
’22 0.41 0.33 0.59 0.66 1.99
’21 0.37 0.38 0.57 0.50 1.81
’20 0.07 0.16 0.35 0.45 1.02
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 823 839 874 — —
’25 801 797 861 977 3,437
’24 722 801 864 980 3,366
’23 685 682 743 854 2,965
’22 595 588 639 708 2,531
’21 555 571 609 683 2,418
’20 424 425 511 628 1,988
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 71 (77) 118 — —
’25 65 (127) (33) 230 134
’24 22 1 38 190 251
’23 88 13 44 206 350
’22 78 (44) 70 172 274
’21 98 22 24 139 282
’20 35 12 82 203 332
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 47 (106) 97 — —
’25 39 (149) (54) 207 43
’24 0 (23) 6 153 136
’23 73 (10) 17 163 243
’22 72 (61) 12 137 159
’21 75 1 9 111 195
’20 5 (8) 65 174 235
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 20.7% a year for ten years. It grew −7.6% a year over the last ten.

Implied
20.7%
10 years, reported
−7.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,611 1,766 1,896 2,073 1,988 2,418 2,531 2,965 3,366 3,437 3,513 +8.8% 3,556 3,704 3,917 +4.5%
Gross margin, % 46.25 46.21 47.48 48.02 47.29 50.03 51.59 51.05 49.00 45.91 47.66 (0.3) pt
EBT 178 198 245 280 226 394 414 544 207 22 (71) (20.7%)
EBT margin, % 11.02 11.20 12.91 13.53 11.36 16.28 16.36 18.36 6.15 0.64 (2.02) (10.4) pt
Net income 155 80 181 198 161 281 299 429 114 (8) (116) n/m
Per share, $
Per share, $ Revenue 9.98 11.17 12.14 13.35 12.96 15.97 17.03 20.25 22.59 22.64 23.04 +9.5%
Earnings 0.95 0.50 1.15 1.27 1.03 1.83 2.00 2.92 0.76 (0.15) (1.01) n/m
Cash flow 0.81 0.98 1.53 1.38 2.17 1.87 1.85 2.39 1.69 0.88 2.24 +1.0%
Capex (0.22) (0.20) (0.31) (0.40) (0.63) (0.58) (0.78) (0.73) (0.77) (0.60) (0.64) +11.6%
Free cash flow 0.59 0.77 1.22 0.98 1.53 1.29 1.07 1.66 0.91 0.29 1.60 (7.7%)
Book value 4.29 4.64 5.79 5.91 6.35 7.16 7.58 9.53 12.06 16.29 15.12 +16.0%
Shares, m 161 158 156 155 153 151 149 146 149 152 152 (0.7%)
Valuation, ×
Valuation, × P/E 22.72 69.04 25.89 39.82 52.55 45.85 34.54 24.76 77.13 0.00 0.00 39.2
P/S 2.16 3.09 2.45 3.82 4.18 5.25 4.06 3.57 2.59 2.08 2.53 3.3
P/B 5.03 7.44 5.14 8.63 8.52 11.71 9.12 7.59 4.86 2.89 3.70 7.1
EV/Sales 2.11 3.08 2.46 3.88 4.23 5.32 4.28 3.84 3.16 2.54 2.98 3.5
EV/FCF 28.38 36.97 21.64 45.62 32.37 58.47 58.93 42.45 66.20 128.07 38.85 51.9
Cash, $m
Cash, $m Operating cash flow 131 154 240 213 332 282 274 350 251 134 342 +0.3%
Capex (36) (32) (49) (62) (97) (87) (115) (107) (115) (91) (97) +10.8%
Free cash flow 95 122 191 151 235 195 159 243 136 43 245 (8.3%)
Balance, $m
Balance, $m Working capital 751 834 705 1,151 1,133 1,533 1,199 962 772 933 985 +2.4%
Net debt (89) (24) 19 128 113 166 574 793 1,911 1,570 1,594 n/m
Shareholders’ equity 693 734 905 917 974 1,085 1,126 1,395 1,797 2,474 2,306 +15.2%
Returns, %
Returns, % ROA 8.68 4.18 8.82 8.05 5.42 8.27 8.17 10.87 2.25 (0.37) (2.73) (9.0) pt
ROIC 18.80 19.32 17.75 17.99 14.28 20.66 15.91 12.48 4.27 1.05 (1.12) (17.7) pt
ROE 21.54 11.02 21.93 21.64 16.69 26.92 26.84 33.90 7.09 (1.05) (7.04) (22.6) pt
People
People Employees 6,000 6,200 6,870 7,230 7,400 7,765 8,525 9,707 11,396 11,085 — +7.1%
Revenue/emp, $m 0.27 0.28 0.28 0.29 0.27 0.31 0.30 0.31 0.30 0.31 — +1.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Bruker develops, manufactures and distributes scientific instruments and analytical and diagnostic products. Its tools help customers examine biological and industrial samples at microscopic, molecular and cellular levels. Researchers use them to study the structure and function of molecules, while other customers use them for tasks such as identifying microbes, testing materials and controlling manufacturing processes.

The company’s technologies include magnetic resonance, mass spectrometry, chromatography, X-rays, microscopy and molecular spectroscopy. For example, its magnetic resonance instruments help researchers study molecular structure, while its mass spectrometers help identify and measure molecules. Bruker also supplies imaging and laboratory automation equipment, software, test kits and services.

Where the money comes from and where it goes Fiscal 2024

Fiscal 2024: revenue by segment, and margins
BSI NANO 1,098 32.63%
BSI CALID 1,094 32.48%
BSI BioSpin 906 26.90%
BEST 269 7.99%
Gross margin 49.00%
Operating margin 7.52%
Pre-tax margin 6.15%

Revenue by segment since 2009

Bruker Corporation vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SNN Smith & Nephew SNATS, Inc. $13.4B 38.9× 18.9× +7.99% (above 0%: growing) −14.23% (below 0%: shrinking) +293.94% (above 0%: growing) 69.42% 0.00% Compare
GKOS Glaukos Corporation $13.0B — (loss-making) — (loss-making) +58.03% (above 0%: growing) n/m +411.22% (above 0%: growing) 85.23% 0.39% Compare
PEN Penumbra, Inc. $12.7B 80.3× 68.7× +15.64% (above 0%: growing) −8.29% (below 0%: shrinking) −37.16% (below 0%: shrinking) 68.34% 12.37% Compare
GMED Globus Medical, Inc. $10.9B 19.5× 18.8× −0.69% (below 0%: shrinking) +19.32% (above 0%: growing) +10.10% (above 0%: growing) 69.50% 23.25% Compare
PODD Insulet Corporation $10.8B 25.2× 24.4× +19.21% (above 0%: growing) +64.06% (above 0%: growing) −29.81% (below 0%: shrinking) 75.07% 22.54% Compare
BIO.B Bio-Rad Laboratories, Inc. $10.3B 9.9× — +0.52% (above 0%: growing) n/m +8.07% (above 0%: growing) 50.06% (7.57%) Compare
BIO Bio-Rad Laboratories, Inc. $9.9B 9.7× 44.7× +0.52% (above 0%: growing) n/m +8.07% (above 0%: growing) 50.06% (7.57%) Compare
BRKR Bruker Corporation $8.9B — (loss-making) — (loss-making) +1.57% (above 0%: growing) n/m +278.74% (above 0%: growing) 49.12% (10.41%)
TXG 10x Genomics $7.6B — (loss-making) — (loss-making) −12.65% (below 0%: shrinking) n/m −4.61% (below 0%: shrinking) 74.48% (12.95%) Compare
Median of peers $10.9B 22.4× 24.4× +4.26% +5.52% +8.07% 69.46% 0.20%

All 149 Medical Devices stocks →

From the latest earnings call

Updated

  • CEO Frank Laukien said scientific instruments organic bookings grew 10% year over year, while U.S. academic orders remained weak.
  • CFO Gerald Herman said semiconductor customer delivery requirements would shift approximately $20 million of planned third-quarter revenue into the fourth quarter.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 92.93%
Held by the ten largest 57.30%
Holder Shares Stake Change
Fidelity (FMR) 20.24m 13.28% +4.14m
Orbis Allan Gray Ltd 17.94m 11.78% 0.00
BlackRock 11.41m 7.49% +226.53k
Vanguard 10.62m 6.97% +94.16k
Pallas Capital Advisors LLC 9.48m 6.23% +2.16k
Sculptor Capital LP 4.63m 3.04% +1.36m
State Street 4.02m 2.64% +108.98k
Franklin Templeton 3.23m 2.12% +310.16k
Sachem Head Capital Management LP 2.92m 1.91% +2.92m
EDMOND DE ROTHSCHILD HOLDING S.A. 2.82m 1.85% −533.67k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 10 April 2026

Ownership

Directors and executive officers, together 27.20%
Frank H. Laukien 26.60%
FMR LLC 11.20%
Orbis Investment Management Ltd Orbis House, 10.00%
BlackRock, Inc. 6.50%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

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stockrow.com/BRKR · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com