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1. Company Snapshot

1.a. Company Description

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.

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1.b. Last Insights on BRKR

Bruker Corporation's recent performance was driven by a sharp earnings beat in Q3 2025, with mid-single digit percentage organic bookings growth year-over-year. The company's Scientific Instruments segment showed strength, with a book-to-bill ratio greater than 1.0. Additionally, Bruker secured new orders for its NMR systems, including $10M in federally funded orders from top U.S. research institutions. The company also announced a quarterly cash dividend of $0.05 per share. Furthermore, Bruker's acquisition of AST Revolution expands its offerings in the life sciences sector.

1.c. Company Highlights

2. Bruker Corporation's Q3 2025 Earnings: A Deeper Dive

Bruker Corporation reported revenues of $860.5 million for Q3 2025, a 0.5% decrease year-over-year, with a currency tailwind of 2.9%. On an organic basis, revenues decreased 4.5%, driven by a 5.4% decline in the Scientific Instruments segment, partially offset by 6.9% growth at BEST. The company's non-GAAP operating margin was 12.3%, down 260 bps year-over-year. Non-GAAP diluted EPS was $0.45, a 25% decrease from $0.60 in Q3 2024, but improved sequentially and beat expectations.

Publication Date: Nov -06

📋 Highlights
  • Revenue Decline: Q3 '25 reported revenue fell 0.5% to $860.5M, with organic revenue down 4.5% year-over-year.
  • Book-to-Bill Ratio: BSI segment achieved >1.0x book-to-bill ratio, driven by 5.4% organic order growth in biopharma and applied markets.
  • Cost Savings Progress: Cost-cutting initiatives on track to deliver $100M–$120M savings by 2026, nearing high end of target range.
  • Non-GAAP EPS Drop: Q3 non-GAAP EPS declined 25% to $0.45, yet improved sequentially and exceeded expectations.
  • Backlog Increase: Backlog rose to 7 months, with delayed orders pushing $100M+ revenue into 2026 due to site readiness issues.

Segment Performance

The Scientific Instruments segment saw a book-to-bill ratio greater than 1.0x for the first time in several quarters, driven by stronger order growth in biopharma and applied markets. Biopharma had the strongest organic order growth among end markets, with innovative spatial biology, proteomics, and multiomics solutions being well-received by customers. According to Frank Laukien, "Our innovative spatial biology, proteomics, and multiomics solutions launched earlier this year are being well-received by our biopharma and academic customers."

Guidance and Outlook

Bruker reduced its organic revenue growth expectations for Q4 2025 and full-year 2025 due to late timing of Q3 orders and customer site delays. However, the company expects improved P&L performance in FY 2026 and beyond, driven by significant cost-saving initiatives. Bruker is committed to double-digit EPS growth in FY 2026, even without revenue growth, and expects to meet the high end of its $100 million to $120 million cost-down target.

Valuation Metrics

With a P/E Ratio of -308.0, P/B Ratio of 2.49, and EV/EBITDA of 27.41, Bruker's valuation metrics indicate a potentially overvalued stock. Analysts estimate revenue growth at 1.5% for next year, which may not be sufficient to justify the current valuation. However, the company's commitment to cost savings and margin expansion could lead to improved profitability.

Key Takeaways

Bruker's Q3 2025 earnings report highlights the company's resilience in the face of challenging market conditions. While revenues and EPS were down year-over-year, the company's order growth and cost-saving initiatives position it for improved performance in FY 2026. Investors should closely monitor Bruker's progress in executing its strategic plans and achieving its guidance.

3. NewsRoom

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Ballast Asset Management LP Makes New $2.18 Million Investment in Bruker Corporation $BRKR

Dec -01

Source: defenseworld.net

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Indaba Capital Announces Sale of AST Revolution to Bruker

Nov -24

Source: businesswire.com

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Here Are Thursday's Top Wall Street Analyst Research Calls: AON, Apollo Global Managment, Bullish, Jack Henry, Marsh & McClennan, Nasdaq, NVIDIA,

Nov -20

Source: 247wallst.com

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Q3 2025 Portfolio: Focusing On Resilience, Attractive Valuation And Sound Capital Allocation

Nov -11

Source: seekingalpha.com

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Bruker Announces Quarterly Common Stock Dividend and Preferred Stock Dividend

Nov -04

Source: businesswire.com

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Why This Investment Advisor Sold Off Its $3.6 Million Bruker Stake

Nov -04

Source: fool.com

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Bessemer Group Inc. Sells 8,966 Shares of Bruker Corporation $BRKR

Nov -04

Source: defenseworld.net

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Bruker Shares Rise After Q3 Earnings Beat, but Guidance Is Cautious

Nov -03

Source: 247wallst.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.42%)

6. Segments

Bruker Scientific Instruments Chemicals, Applied Markets, Life Science, In-Vitro Diagnostics, Detection

Expected Growth: 7.8%

Bruker Scientific Instruments' 7.8% growth driven by increasing demand for chemical analysis in applied markets, advancements in life science research, and growing adoption of in-vitro diagnostics. Strong detection capabilities and innovative products also contribute to growth, as customers seek accurate and efficient solutions for complex analytical challenges.

Bruker Scientific Instruments NANO

Expected Growth: 8.15%

Bruker Scientific Instruments NANO's 8.15% growth is driven by increasing demand for nanotechnology and materials science research, expansion in biopharmaceutical and semiconductor industries, and strategic acquisitions enhancing its product portfolio and geographic presence.

Bruker Scientific Instruments BioSpin

Expected Growth: 8.5%

Bruker Scientific Instruments BioSpin's 8.5% growth is driven by increasing demand for advanced magnetic resonance and preclinical imaging solutions in pharmaceutical and biotechnology industries, coupled with expanding research in neurology, oncology, and infectious diseases. Additionally, strategic acquisitions and partnerships have enhanced the company's product portfolio and geographic reach.

Bruker Energy & Supercon Technologies

Expected Growth: 11.47%

Bruker Energy & Supercon Technologies' 11.47% growth is driven by increasing demand for advanced materials and equipment in the energy storage and superconducting industries. Strong research and development investments, strategic partnerships, and expanding applications in electric vehicles, renewable energy, and healthcare are key growth catalysts.

Eliminations

Expected Growth: 4.83%

Bruker Corporation's 4.83% growth is driven by increasing demand for its scientific instruments and analytical solutions, particularly in the biopharma and applied markets. Additionally, strategic acquisitions, expansion into emerging markets, and a strong product portfolio have contributed to the company's growth momentum.

7. Detailed Products

NMR Spectrometers

Nuclear Magnetic Resonance (NMR) spectrometers for molecular structure determination and analysis

Mass Spectrometers

Mass spectrometers for protein identification, quantitation, and structural analysis

MicroCT Scanners

Micro-computed tomography (MicroCT) scanners for non-invasive, high-resolution imaging of small animals and biological samples

X-Ray Fluorescence (XRF) Spectrometers

XRF spectrometers for elemental analysis and material characterization

FT-IR Spectrometers

Fourier Transform Infrared (FT-IR) spectrometers for molecular analysis and identification

MALDI-TOF Mass Spectrometers

Matrix-Assisted Laser Desorption/Ionization-Time of Flight (MALDI-TOF) mass spectrometers for protein analysis and identification

EPR Spectrometers

Electron Paramagnetic Resonance (EPR) spectrometers for the study of free radicals and molecular interactions

8. Bruker Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Bruker Corporation's products are highly specialized and customized, making it difficult for substitutes to emerge. However, the company still faces some threat from alternative technologies and products.

Bargaining Power Of Customers

Bruker Corporation's customers are largely research institutions and pharmaceutical companies, which have limited bargaining power due to the specialized nature of the company's products.

Bargaining Power Of Suppliers

Bruker Corporation relies on a few key suppliers for critical components, giving them some bargaining power. However, the company's strong relationships with suppliers and its diversified supply chain mitigate this risk.

Threat Of New Entrants

The high barriers to entry in the scientific instrument industry, including significant R&D investments and regulatory hurdles, make it difficult for new entrants to challenge Bruker Corporation's market position.

Intensity Of Rivalry

The scientific instrument industry is highly competitive, with several established players competing for market share. Bruker Corporation faces intense rivalry from companies like Thermo Fisher Scientific and Agilent Technologies.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 48.35%
Debt Cost 3.95%
Equity Weight 51.65%
Equity Cost 10.04%
WACC 7.10%
Leverage 93.60%

11. Quality Control: Bruker Corporation passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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ShockWave Medical

A-Score: 4.0/10

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Growth: 9.8

Quality: 6.9

Yield: 0.0

Momentum: 5.0

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A-Score: 3.7/10

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A-Score: 3.0/10

Value: 6.4

Growth: 1.8

Quality: 5.3

Yield: 0.0

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Volatility: 4.0

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Bruker

A-Score: 2.5/10

Value: 2.3

Growth: 5.2

Quality: 3.4

Yield: 0.0

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

48.03$

Current Price

48.03$

Potential

-0.00%

Expected Cash-Flows