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. In the quarter to June 2026, revenue grew 5.15%, EPS fell 920.0%, free cash flow grew 28.6% and total debt fell 25.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five.
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Bruker Corporation (BRKR) Altman Z-score
Bruker Corporation's Altman Z-score for fiscal 2025 is 2.43, in the grey zone (1.81–2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 2.43 | (0.34) |
| FY2024 | 2.77 | (1.56) |
| FY2023 | 4.33 | (0.36) |
| FY2022 | 4.69 | (0.46) |
| FY2021 | 5.15 | 0.73 |
| FY2020 | 4.41 | (0.39) |
| FY2019 | 4.81 | 0.11 |
| FY2018 | 4.70 | (0.45) |
| FY2017 | 5.15 | 0.90 |
| FY2016 | 4.25 | (0.51) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.15 | — | 0.18 | |
| Retained earnings / total assets | 0.38 | — | 0.53 | |
| EBIT / total assets | 0.01 | — | 0.04 | |
| Market value of equity / total liabilities | 1.90 | — | 1.14 | |
| Sales / total assets | 0.55 | — | 0.55 | |
| Altman Z-score | Grey zone | 2.43 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 2.98 | ||
Z and Z″ put Bruker Corporation in different zones: grey zone by Z, safe zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| PEN Penumbra, Inc. compare | 20.2× |
| GKOS Glaukos Corporation compare | 15.2× |
| GMED Globus Medical, Inc. compare | 11.3× |
| PODD Insulet Corporation compare | 9.1× |
| SNN Smith & Nephew SNATS, Inc. compare | 3.5× |
| BIO.B Bio-Rad Laboratories, Inc. compare | 3.2× |
| BIO Bio-Rad Laboratories, Inc. compare | 3.2× |
| BRKR Bruker Corporation | 2.4× |
| HAE Haemonetics Corporation compare | 2.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets