# Bruker Corporation (BRKR) — Stock CV

Bruker Corporation is a $8.96B technology company. Revenue grew 1.6% over the last year, it currently loses money, and its net debt equals ~16.7 years of free cash flow.

> Bruker Corp manufactures scientific instruments and diagnostic tests for customers in the life sciences, applied markets, pharmaceutical, and biotechnology industries.

## Identity

- **Ticker**: BRKR
- **Sector**: Technology
- **Industry**: Laboratory Analytical Instruments
- **Headquarters**: BILLERICA, MA
- **Employees**: 11 085
- **Website**: https://www.bruker.com
- **Market cap**: $8.96B
- **Last price**: $58.84
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $3.50B
- **Net income**: -$71.2M
- **Free cash flow**: $93.9M
- **Net debt**: $1.57B
- **P/E**: 33.1
- **Revenue growth (YoY)**: 1.6%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 25 |
| Growth | 32 |
| Profitability | 0 |
| Health | 33 |
| Quality | 50 |
| Moat | 70 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +1.6% YoY
- [ ] Profitable — -$71.2M TTM
- [ ] Profit growing — -107.6% YoY
- [x] Generates cash — $93.9M TTM
- [ ] Debt under control — ~16.7y of cash flow to repay
- [x] Established company — $8.96B market cap
- [x] Not printing shares — -1.8% shares over ~5y
- [x] Proven track record — 9/10 profitable years
- [ ] Financially stable — health score 21/100
- [x] Pays a dividend — yield 0.61%
- [x] Valuation not extreme — P/E 33.1

## Experience (career milestones)

- **FY2023** — Best year on record: $427M net income
- **2022** — It was announced Bruker had acquired the Mountain View-headquartered miniaturized microscope /…
- **2020** — Bruker acquired Canopy Biosciences
- **2019** — Bruker bought Alicona, known for production of metrology equipment based on focus variation, to extend its…
- **FY2016** — First recorded profitable year: $154M net income
- **FY2016** — Revenue already above $1B: $1.61B in first reported year
- **FY2016** — Positive free cash flow every year since: 10-year streak
- **2012** — They have since divested these products to Scion Instruments with the exception of the triple quadrupole In 2012,…
- **2010** — Bruker created a Chemical Analysis Division (headquartered in Fremont, CA) under the Bruker Daltonics…
- **2010** — Bruker bought 3 product lines from Agilent, which Agilent had acquired from Varian
- **2001** — This division contains three former Varian product lines: ICPMS systems, laboratory gas chromatography (GC)
- **1997** — The analytical X-ray division of Siemens was acquired by Bruker
- **1969** — Bruker launched the first commercial Fourier transform NMR spectroscopy system (FT-NMR) and in the 1970s…
- **Sep 7, 1960** — The company was founded on September 7, 1960, in Karlsruhe, Germany as Bruker-Physik AG by five people, one of them…

## Strengths

- High gross margin (47.7%)

## Watch-outs

- Not profitable — 2.0% net margin
- Thin interest coverage (1.8×)
- Loss-making in 1 of the recent years
- Net debt equals ~16.7 years of free cash flow

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $2.42B | $277M | $190M |
| FY2022 | $2.53B | $297M | $145M |
| FY2023 | $2.96B | $427M | $243M |
| FY2024 | $3.37B | $113M | $136M |
| FY2025 | $3.44B | -$8.60M | $43.3M |

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Source: https://stockcv.com/BRKR — derived from company filings; may be delayed or incomplete. Information, not investment advice.