One-glance verdict
Overvalued
$9.15 our estimate vs market $58.23
Wall Street consensus: $63.83 (597.8% higher than our fair-value estimate)
537% above our estimate, beyond the bull case
Fundamentals snapshot
Bruker Corporation
BRKR · NMS · Healthcare · Medical Devices
Current price
$58.23
52-week range
$32.37 - $66.98
Market cap
$8.87B
Balance sheet
Stretched
3.91x Stretched
Net debt $1.67B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 1.8% last year.
- Reward Free cash flow was positive in 10/10 years.
- Risk Net debt grew 179.1% over 3 years.
- Risk Operating margin compressed from 18.3% to 9.9% over 3 years.
What this company does
Bruker Corporation
Bruker makes and sells high-tech scientific instruments, like powerful microscopes and scanners, used by labs and drug companies for research. The company makes most of its money from selling these expensive machines and also from providing ongoing services and support for them after the sale. This matters because Bruker's tools are critical for scientific breakthroughs, meaning its business often grows when governments and companies spend more on research and development.
How the company got here
Bruker was founded in 1960 in Germany by Professor Günther Laukien, who saw a need for a specific type of scientific instrument called an impulse spectrometer. The company initially focused on developing and producing equipment for a powerful analysis technique called Nuclear Magnetic Resonance (NMR) spectroscopy. A key moment was in 1969 when Bruker introduced the first commercial Fourier transform NMR system, a major technological advance that solidified its reputation. Over the years, the company expanded its product range through innovation and by acquiring other companies, including the analytical X-ray division of Siemens. After a major reorganization, all the different divisions were unified under the single Bruker Corporation name in 2008, with its headquarters now in Billerica, Massachusetts.
What it actually does
Bruker makes high-performance scientific instruments and diagnostic tools that allow scientists to examine life and materials at a microscopic, molecular, and even cellular level. Think of their products as incredibly powerful microscopes and analysis machines used in laboratories for research and quality control. These tools help researchers in fields like medicine, pharmaceuticals, and materials science to understand the detailed structure and characteristics of samples. For example, their equipment is used to develop new drugs, ensure the quality of food, and create new materials for things like batteries.
Bruker Scientific Instruments (BSI) BioSpin
This is one of the company's core businesses, providing advanced scientific instruments based on a technique called magnetic resonance. Its main products are Nuclear Magnetic Resonance (NMR) and Electron Paramagnetic Resonance (EPR) spectrometers, as well as preclinical imaging systems like MRIs for research. Customers, who are often in universities, government labs, and pharmaceutical companies, use these tools to understand the detailed structure and function of molecules, which is critical for discovering new drugs and researching diseases. This segment represents a significant portion of Bruker's business.
Bruker Scientific Instruments (BSI) CALID
The CALID group, the company's largest segment by revenue, provides a range of life science and diagnostic tools. A key product line is mass spectrometers, which are like molecular scales that identify what molecules are in a sample and how much is there. This division also makes instruments for microbiology labs to identify bacteria and test for diseases using technologies like PCR, the same technology used for COVID-19 tests. Their customers include pharmaceutical and biotech companies, food manufacturers, and clinical labs.
Bruker Scientific Instruments (BSI) Nano
This segment provides tools for exploring materials on an incredibly small scale, down to the level of nanometers. It makes things like advanced X-ray instruments, analytical tools for electron microscopes, and atomic force microscopes that let scientists "see" and measure the surfaces of materials in 3D. These instruments are essential for customers in nanotechnology, semiconductor manufacturing, and materials science research. This is a large and fast-growing part of Bruker's business.
Bruker Energy & Supercon Technologies (BEST)
This is a more specialized and the smallest part of Bruker's business, focused on producing superconducting materials. Superconductors are special wires that can carry electricity with extreme efficiency, which is essential for powerful magnets used in MRI machines and advanced research projects like fusion energy. The primary customers for these materials are in the healthcare sector for MRIs and large-scale scientific research facilities. This segment also makes other high-tech tools for research applications.
What management is betting on now
The company is heavily focused on expanding into high-growth areas of life sciences, particularly proteomics (the large-scale study of proteins) and spatial biology, which looks at how cells are arranged in tissues. They are making strategic acquisitions (buying other companies) to add new technologies and capabilities in these fields. Management is also pushing toward more automation and the use of artificial intelligence (AI) in laboratory software to make research faster and more efficient. Another key priority is expanding their product offerings for industrial customers and those involved in green technology, such as battery development.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$5.80M
FY2024 Q4
$153.30M
FY2025 Q1
$39.00M
FY2025 Q2
$-148.80M
FY2025 Q3
$-54.10M
FY2025 Q4
$207.20M
FY2026 Q1
$47.00M
FY2026 Q2
$-106.20M
Revenue
$838.50M
Net income
$-52.00M
Diluted EPS
-0.41
Operating cash flow
$-77.40M
Free cash flow
$-106.20M
Fetching…
Sources
Revenue
$823.40M
Net income
$14.40M
Diluted EPS
0.02
Operating cash flow
$71.20M
Free cash flow
$47.00M
Fetching…
Sources
Revenue
$977.20M
Net income
$26.00M
Diluted EPS
0.10
Operating cash flow
$229.80M
Free cash flow
$207.20M
Fetching…
Sources
Revenue
$860.50M
Net income
$-59.60M
Diluted EPS
-0.41
Operating cash flow
$-33.20M
Free cash flow
$-54.10M
Fetching…
Sources
Revenue
$797.40M
Net income
$7.60M
Diluted EPS
0.05
Operating cash flow
$-127.50M
Free cash flow
$-148.80M
Fetching…
Sources
Revenue
$801.40M
Net income
$17.40M
Diluted EPS
0.11
Operating cash flow
$65.00M
Free cash flow
$39.00M
Fetching…
Sources
Revenue
$979.60M
Net income
$13.70M
Diluted EPS
0.09
Operating cash flow
$190.00M
Free cash flow
$153.30M
Fetching…
Sources
Revenue
$864.40M
Net income
$40.90M
Diluted EPS
0.27
Operating cash flow
$38.40M
Free cash flow
$5.80M
Fetching…
Sources
Is it cheap or expensive?
Fair value $9.15 vs current price $58.23
Wall Street consensus is the average analyst price target: $63.83 (597.8% higher than our fair-value estimate).
Our most-likely fair value is $9.15 a share — about 84.3% below today's price of $58.23, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Stretched
Net debt $1.7B. Interest coverage 3.9x.
Net debt
$1.67B
Interest coverage
3.91x
Bruker Corporation is healthier than 0 of 1 peers on balance-sheet leverage.
Stretched
Worse cushion
Baseline
Better cushion
BRKR
BASELINE
Bruker Corporation
Total debt $1.86B Interest coverage 3.91x This is the baseline the peer rows are being compared against.
What you should know
The case for and against BRKR
3 Rewards
3 Risks
Rewards
-
Revenue grew 1.8% last year.
-
Free cash flow was positive in 10/10 years.
-
Dividend yield is 0.3% with 11-year payout history.
Risks
-
Net debt grew 179.1% over 3 years.
-
Operating margin compressed from 18.3% to 9.9% over 3 years.
-
Return on equity was -3.0% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
24.23x
P/B
3.73x
P/S
2.54x
EV/EBITDA
19.58x
PEG ratio
1.52x
Profitability
How much profit each dollar creates
Gross margin
48.5%
Operating margin
9.9%
Net margin
-2.0%
ROE
-3.0%
ROA
3.1%
Health
Liquidity and balance-sheet strength
Debt / equity
0.76x
Current ratio
1.85x
Quick ratio
0.80x
Total debt
$1.86B
Total cash
$184.90M
Growth
How the business has been compounding
Revenue TTM
$3.50B
Revenue 5Y CAGR
9.2%
EPS TTM
-0.70
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$190.40M
Free CF TTM
$43.30M
FCF margin
1.2%
Dividend
Shareholder payout
Yield
0.4%
Payout ratio
38.5%
Last ex-div date
2026-09-21