Bruker Corp Stock Research

Market Summary

USD75.77+0.92

Delayed

1.23%

BRKR Stock Price

BRKR RSI Chart

BRKR Valuation

Market Cap

11.1B

Price/Earnings (Trailing)

37.56

Price/Sales (Trailing)

4.4

EV/EBITDA

20.87

Price/Free Cashflow

76.72

BRKR Price/Sales (Trailing)

BRKR Profitability

Operating Margin

51.59%

EBT Margin

16.36%

Return on Equity

26.35%

Return on Assets

8.21%

Free Cashflow Yield

1.3%

BRKR Fundamentals

BRKR Revenue

Revenue (TTM)

2.5B

Revenue Y/Y

3.64%

Revenue Q/Q

10.88%

BRKR Earnings

Earnings (TTM)

296.6M

Earnings Y/Y

28.67%

Earnings Q/Q

10.56%

Price Action

52 Week Range

48.4276.81

(Low)(High)

Last 7 days

3.2%

Last 30 days

6.3%

Last 90 days

13.9%

Trailing 12 Months

15.1%

BRKR Financial Health

Current Ratio

2.31

Debt/Equity

1.22

Debt/Cashflow

0.17

BRKR Investor Care

Dividend Yield

0.26%

Dividend/Share (TTM)

0.2

Buy Backs (1Y)

2.47%

Diluted EPS (TTM)

1.99

Peers (Alternatives to Bruker)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
TMO	218.8B	44.9B	1.80%	-2.69%	31.44	4.87	14.55%	-9.94%
A	38.9B	6.8B	-7.12%	-2.94%	31.04	5.68	8.37%	3.64%
ILMN	34.8B	4.6B	9.07%	-35.87%	-7.89	7.58	1.28%	-677.95%
MTD	32.3B	3.9B	0.30%	5.82%	37.04	8.24	5.43%	13.46%
BRKR	11.1B	2.5B	6.34%	15.12%	37.56	4.4	4.67%	7.04%
MID-CAP
NEO	2.1B	509.7M	26.37%	-5.44%	-14.51	4.11	5.24%	-1628.17%
SMALL-CAP
PACB	2.2B	128.3M	3.11%	-0.62%	-6.93	16.97	-1.69%	-73.40%
ADPT	1.2B	185.3M	-4.53%	-36.18%	-6.03	6.51	20.06%	3.42%
QTRX	394.4M	105.5M	-10.11%	-62.94%	-4.08	3.74	-4.55%	-67.63%
BNGO	326.9M	27.8M	-22.54%	-54.36%	-2.47	11.76	54.62%	-83.06%
CDXS	255.3M	138.6M	-29.45%	-81.04%	-7.6	1.84	32.30%	-57.86%
HBIO	130.5M	113.3M	8.01%	-46.55%	-13.71	1.15	-4.68%	-3204.17%
CDXC	123.0M	72.0M	-3.51%	-34.52%	-7.46	1.71	6.82%	39.11%
EYPT	77.7M	42.4M	-38.54%	-82.46%	-0.99	1.83	30.40%	-43.67%

Financials for Bruker

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	1.0%	2,531	2,506	2,476	2,458	2,418
Cost Of Revenue	0.0%	1,225	1,224	1,221	1,221	1,208
Gross Profit	1.9%	1,306	1,281	1,255	1,237	1,210
Operating Expenses	2.2%	873	854	846	817	796
S&GA Expenses	1.9%	607	596	593	575	561
R&D Expenses	2.3%	236	231	226	223	221
EBITDA	0.6%	503	500	480	505	-
EBITDA Margin	-0.4%	0.20*	0.20*	0.19*	0.21*	-
Earnings Before Taxes	0.4%	414	412	392	402	394
EBT Margin	-0.6%	0.16*	0.16*	0.16*	0.16*	-
Interest Expenses	-	20.00	-	-	-	-
Net Income	7.9%	297	275	274	282	277
Net Income Margin	6.8%	0.12*	0.11*	0.11*	0.11*	-
Free Cahsflow	22.5%	145	119	114	176	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	8.2%	3,612	3,337	3,385	3,551	3,650
Current Assets	3.8%	2,113	2,037	2,088	2,251	2,472
Cash Equivalents	3.6%	649	626	723	816	1,068
Inventory	6.8%	800	750	759	740	710
Net PPE	15.5%	487	422	395	404	406
Goodwill	19.9%	458	382	396	384	340
Current Liabilities	5.7%	914	865	818	881	939
LT Debt, Non Current	5.6%	1,201	1,137	1,171	1,205	1,222
Shareholder's Equity	20.1%	1,126	937	984	1,031	1,071
Retained Earnings	-	1,660	-	-	-	-
Additional Paid-In Capital	-	238	-	-	-	-
Shares Outstanding	-0.2%	147	147	148	149	151
Minority Interest	8.2%	12.00	11.00	14.00	14.00	14.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	13.6%	274	242	196	262	282
Share Based Compensation	-2.1%	28.00	28.00	27.00	21.00	17.00
Cashflow From Investing	-66.7%	-251	-150	-141	-270	-192
Cashflow From Financing	-1754.6%	-415	25.00	105	139	319
Dividend Payments	4.9%	30.00	28.00	27.00	26.00	24.00
Buy Backs	-17.4%	265	321	248	226	153

Risks for BRKR

What is the probability of a big loss on BRKR?

62.7%

Probability that Bruker stock will be more than 20% underwater in next one year

37.7%

Probability that Bruker stock will be more than 30% underwater in next one year.

5.4%

Probability that Bruker stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does BRKR drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Bruker was unfortunately bought at previous high price.

Drawdowns

Returns for BRKR

Cumulative Returns on BRKR

15.3%

10-Year Cumulative Returns

16.1%

7-Year Cumulative Returns

21.4%

5-Year Cumulative Returns

30.2%

3-Year Cumulative Returns

What are the long-term rolling returns for BRKR?

FIve years rolling returns for Bruker.

Annualized Returns

Which funds bought or sold BRKR recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-28.23	-125,320	1,532,680	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	160,000	714,000	-%
2023-02-28	Voya Investment Management LLC	reduced	-16.7	727,022	10,677,000	0.01%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	243,000	1,087,000	0.01%
2023-02-21	KB FINANCIAL PARTNERS, LLC	unchanged	-	-	-	-%
2023-02-21	NORTHWESTERN MUTUAL INVESTMENT MANAGEMENT COMPANY, LLC	reduced	-7.48	281,249	1,745,250	0.05%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	sold off	-100	-2,000	-	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-153,000	-	-%
2023-02-17	Linden Thomas Advisory Services, LLC	new	-	1,086,560	1,086,560	0.31%
2023-02-17	TRUIST FINANCIAL CORP	added	0.49	251,659	1,105,660	-%

Latest Funds Activity

Are funds buying BRKR calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own BRKR

No. of Funds

Bruker News

Schedule 13G FIlings of Bruker

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	t. rowe price investment management, inc.	11.1%	16,368,144	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	7.51%	11,045,016	SC 13G/A
Feb 08, 2023	massachusetts financial services co /ma/	5.1%	7,513,039	SC 13G
Jan 31, 2023	blackrock inc.	7.6%	11,118,621	SC 13G/A
Jan 23, 2023	laukien joerg c	5.1%	7,515,769	SC 13G
Feb 14, 2022	price t rowe associates inc /md/	13.7%	20,854,627	SC 13G/A
Feb 09, 2022	vanguard group inc	7.10%	10,765,626	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 04, 2022	blackrock inc.	7.2%	10,844,554	SC 13G

BRKR Fair Value

Bruker fair value in different scenarios

The table shows the Fair Value estimates for Bruker for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	23.45 -69.05%	28.59 -62.27%	38.17 -49.62%	49.41 -34.79%	57.33 -24.34%
Current Inflation	21.47 -71.66%	25.82 -65.92%	33.85 -55.33%	43.25 -42.92%	49.83 -34.24%
Very High Inflation	19.02 -74.90%	22.48 -70.33%	28.74 -62.07%	36.09 -52.37%	41.19 -45.64%

Historical Bruker Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Bruker

View All Filings

Date Filed	Form Type	Document
Mar 01, 2023	10-K	Annual Report
Feb 22, 2023	3/A	Insider Trading
Feb 21, 2023	8-K	Current Report
Feb 14, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	8-K	Current Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Feb 08, 2023	SC 13G	Major Ownership Report
Jan 31, 2023	SC 13G/A	Major Ownership Report
Jan 23, 2023	SC 13G	Major Ownership Report

Latest Insider Trading transactions for BRKR

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-17	Friend Cynthia M	sold	-62,867	68.26	-921	-
2023-01-05	PACKER RICHARD A	acquired	-	-	1,970	-
2023-01-05	Kastner Marc A	acquired	-	-	1,970	-
2023-01-05	ORNELL JOHN A	acquired	-	-	1,970	-
2023-01-05	Ma Philip	acquired	-	-	1,970	-
2023-01-05	Friend Cynthia M	acquired	-	-	1,970	-
2023-01-05	Perkins Adelene Q	acquired	-	-	1,970	-
2023-01-05	Anderson Bonnie H	acquired	-	-	1,970	-
2023-01-05	Requardt Hermann Fritz	acquired	-	-	1,970	-
2023-01-05	LINTON WILLIAM A	acquired	-	-	1,970	-

About Bruker

Frank H. Laukien

www.bruker.com

7760

Bruker Corporation develops, manufactures, and distributes scientific instruments, and analytical and diagnostic solutions in the United States and internationally. The company operates through three segments: Bruker Scientific Instruments (BSI) Life Science, BSI NANO, and Bruker Energy & Supercon Technologies. It offers life science tools, and single and multiple modality systems; life science mass spectrometry; MALDI Biotyper rapid pathogen identification platform and related test kits, DNA test strips, and fluorescence-based polymerase chain reaction technology; genotype and fluorotype molecular diagnostics kits; research, analytical, and process analysis instruments and solutions; SARS-CoV 2 testing for the diagnosis of COVID-19 infection; and Fluorotyper-SARS-CoV 2 plus kits. It also provides range of portable analytical and bioanalytical detection systems, and related products; X-ray instruments; analytical tools for electron microscopes, as well as handheld, portable, and mobile X-ray fluorescence spectrometry instruments; atomic force microscopy instrumentation; non-contact nanometer resolution solution topography; and automated X-ray metrology, automated AFM defect-detection, and photomask repair and cleaning equipment. In addition, the company offers advanced optical fluorescence microscopy instruments; products and services to support the multi-omics needs of researchers in translational research, drug, and biomarker discovery; superconducting materials, such as metallic low temperature superconductors; devices and complex tools based on metallic low temperature superconductors; and non-superconducting high technology tools, such as synchrotron and beamline instrumentation. Bruker Corporation has a collaboration with Newomics Inc. on a LC-MS platform for drug discovery. The company was incorporated in 1991 and is headquartered in Billerica, Massachusetts.

BRKR Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Total revenue	$ 2,530.7	$ 2,417.9	$ 1,987.5
Total cost of revenue	1,225.0	1,208.3	1,047.7
Gross profit	1,305.7	1,209.6	939.8
Operating expenses:
Selling, general and administrative	607.4	561.2	468.6
Research and development	235.9	220.8	198.0
Other charges, net	29.7	14.3	24.9
Total operating expenses	873.0	796.3	691.5
Operating income	432.7	413.3	248.3
Interest and other income (expense), net	(18.8)	(19.7)	(22.5)
Income before income taxes, equity in income of unconsolidated investees, net of tax, and noncontrolling interests in consolidated subsidiaries	413.9	393.6	225.8
Income tax provision	116.4	113.0	64.4
Equity in income of unconsolidated investees, net of tax	1.0	0.0	0.0
Consolidated net income	298.5	280.6	161.4
Net income attributable to noncontrolling interests in consolidated subsidiaries	1.9	3.5	3.6
Net income attributable to Bruker Corporation	$ 296.6	$ 277.1	$ 157.8
Net income per common share attributable to Bruker Corporation shareholders:
Basic (in dollars per share)	$ 2.00	$ 1.83	$ 1.03
Diluted (in dollars per share)	$ 1.99	$ 1.81	$ 1.02
Weighted average common shares outstanding:
Basic (in shares)	148.6	151.4	153.4
Diluted (in shares)	149.4	152.9	154.6
Consolidated net income	$ 298.5	$ 280.6	$ 161.4
Foreign currency translation adjustments (net of tax of $1.4, $2.1 million and $1.2, respectively)	(67.4)	(77.8)	97.4
Derivatives designated as hedging instruments (net of tax of ($13.8) , $12.5 , respectively)	44.2	51.4	(75.8)
Pension liability adjustments (net of tax of ($11.8) , ($3.9) and ($1.7) , respectively)	45.0	14.5	7.5
Comprehensive income	320.3	268.7	190.5
Less: Comprehensive income attributable to noncontrolling interests	1.6	1.0	4.0
Less: Comprehensive loss attributable to redeemable noncontrolling interest	(0.9)	(0.1)	(0.5)
Comprehensive income attributable to Bruker Corporation	319.6	267.8	187.0
Product
Total revenue	2,109.9	2,017.3	1,638.1
Total cost of revenue	984.0	979.3	840.2
Service
Total revenue	414.6	393.2	343.4
Total cost of revenue	240.8	228.2	206.5
Other
Total revenue	6.2	7.4	6.0
Total cost of revenue	$ 0.2	$ 0.8	$ 1.0

BRKR Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 645.5	$ 1,068.2
Short-term investments	0.0	100.0
Accounts receivable, net	472.7	416.9
Inventories	800.1	710.1
Assets held for sale	1.4	4.4
Other current assets	193.5	172.2
Total current assets	2,113.2	2,471.8
Property, plant and equipment, net	487.0	406.1
Goodwill	457.6	339.5
Intangible assets, net	270.9	211.8
Operating lease assets	51.2	59.9
Deferred tax assets	76.8	90.1
Other long-term assets	155.1	70.8
Total assets	3,611.8	3,650.0
Current liabilities:
Current portion of long-term debt and finance lease obligations	18.7	112.4
Accounts payable	178.4	147.4
Customer advances	218.0	197.5
Other current liabilities	499.2	481.2
Total current liabilities	914.3	938.5
Long-term debt	1,200.5	1,221.8
Long-term deferred revenue	56.2	50.2
Deferred tax liabilities	62.3	46.0
Operating lease liabilities	34.8	41.8
Accrued pension	45.7	104.7
Other long-term liabilities	166.2	162.2
Commitments And Contingencies
Redeemable noncontrolling interests	6.1	0.2
Shareholders' equity:
Preferred stock, $0.01 par value 5,000,000 shares authorized, none issued or outstanding at December 31, 2022 and 2021	0.0	0.0
Common stock, $0.01 par value 260,000,000 shares authorized, 175,389,586 and 174,905,035 shares issued and 147,023,144 and 150,753,687 outstanding at December 31, 2022 and 2021, respectively	1.7	1.7
Treasury stock at cost, 28,366,442 and 24,151,348 shares at December 31, 2022 and 2021, respectively	(1,085.0)	(820.3)
Additional paid-in capital	256.3	237.8
Retained earnings	1,926.0	1,659.5
Accumulated other comprehensive income (loss), net of tax	14.8	(8.2)
Total shareholders' equity attributable to Bruker Corporation	1,113.8	1,070.5
Noncontrolling interests in consolidated subsidiaries	11.9	14.1
Total shareholders' equity	1,125.7	1,084.6
Total liabilities, redeemable noncontrolling interest and shareholders' equity	$ 3,611.8	$ 3,650.0