# Bruker Corporation (BRKR)

> Source: Nexqual · https://nexqual.com/BRKR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Bruker Corporation (BRKR), nexqual.com/BRKR" · informational, not investment advice.

**Price:** USD 57.31 (-3.04% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 59.11 · day 55.53–60.65 · 52w 32.37–66.98 · market cap $8.73B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.50B, net income -$71.2M (-2.0% margin), free cash flow $93.9M (SEC filings).
- 2 of 80 tracked superinvestors hold BRKR (13F, Q3 2025 (1 investor on Q2 2026, filed early)): 1 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $816K; 1 not under a Rule 10b5-1 plan ($198K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.54 on a 1–5 scale) (13 analysts), mean target USD 63.83 (range 50–80).
- Total return with dividends: 1Y +44.9% vs S&P 500 +14.9%; 5Y -25.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD 0.42, revenue estimate $865M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $2.42B | $2.53B | $2.96B | $3.37B | $3.44B | $3.50B |
| Gross profit | $1.21B | $1.31B | $1.51B | $1.65B | $1.58B | — |
| Operating income | $413M | $433M | $437M | $253M | $68.2M | -$30.6M |
| Net income | $277M | $297M | $427M | $113M | -$8.6M | -$71.2M |
| EPS (diluted) | $1.81 | $1.99 | $2.90 | $0.76 | -$0.15 | — |
| Free cash flow | $190M | $145M | $243M | $136M | $43.3M | $93.9M |
| Gross margin | 50.0% | 51.6% | 51.0% | 49.0% | 45.9% | — |
| Operating margin | 17.1% | 17.1% | 14.7% | 7.5% | 2.0% | -0.9% |
| Net margin | 11.5% | 11.7% | 14.4% | 3.4% | -0.3% | -2.0% |
| Revenue growth | +21.7% | +4.7% | +17.1% | +13.6% | +2.1% | — |
| Cash + short-term investments | $1.17B | $646M | — | — | $299M | — |
| Total debt | $1.33B | $1.22B | $1.28B | $2.09B | $1.87B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 2.5x · EV/EBITDA 52.0x · EV/Sales 3.0x · P/FCF 93.0x · P/B 3.6x · FCF yield 1.08% · Earnings yield -0.82% · Dividend yield (paid, TTM) 0.26% · Net debt $1.64B · EV $10.4B
P/E at fiscal year-ends: Dec 2024 77.5x, Dec 2023 25.3x.

## Superinvestors (SEC 13F-HR, Q3 2025)
2 of 80 tracked investors hold BRKR (1 investor on Q2 2026, filed early). Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change | Quarter |
|---|---|---|---|---|---|
| Michael Burry | Scion Asset Management | 19.28% | $13.1M | Reduced -80.7% | Q3 2025 |
| Viking Global | Viking Global Investors | 0.15% | $53.8M | New position | Q2 2026 |

## Insider sales (SEC Form 4, open-market, last ~7 months)
6 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-15 | Munch Mark | EXEC VP&PRES BRUKER NANO INC. | 2,000 | $106K | 1.5% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-17 | Pusch Wolfgang | President BMID Group | 3,473 | $198K | 26.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Munch Mark | EXEC VP&PRES BRUKER NANO INC. | 2,000 | $115K | 1.5% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-07-15 | Munch Mark | EXEC VP&PRES BRUKER NANO INC. | 2,000 | $121K | 1.5% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-15 | Munch Mark | EXEC VP&PRES BRUKER NANO INC. | 2,000 | $110K | 1.5% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-05-15 | Munch Mark | EXEC VP&PRES BRUKER NANO INC. | 2,000 | $88K | 1.5% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-04-15 | Munch Mark | EXEC VP&PRES BRUKER NANO INC. | 2,000 | $80K | 1.5% | Yes | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.54 on a 1–5 scale), 13 analysts; mean target USD 63.83 (low 50, high 80).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | JP Morgan | Downgrade | Overweight → Neutral | $60 |
| 2026-10-13 | TD Cowen | Target raised | Hold | $60 → $62 |
| 2026-10-07 | Barclays | Target raised | Overweight | $58 → $70 |
| 2026-10-01 | Guggenheim | Target raised | Buy | $70 → $72 |
| 2026-09-29 | Leerink Partners | Target raised | Outperform | $60 → $80 |
| 2026-09-09 | UBS | Target raised | Neutral | $45 → $65 |
| 2026-08-05 | Citigroup | Target lowered | Neutral | $60 → $53 |
| 2026-07-08 | Citigroup | Target raised | Neutral | $44 → $60 |
| 2026-07-07 | Leerink Partners | Target raised | Outperform | $60 → $70 |
| 2026-06-29 | Guggenheim | Target raised | Buy | $50 → $70 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +44.9% | -25.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +45.1% | -5.7% |
| Volatility (annualized) | 57.3% | 43.8% |
| Max drawdown | -39.9% (Jan 2026→Mar 2026) | -67.5% (Mar 2024→Aug 2025) |

## Peers (Medical Devices)
BIO-B (Bio-Rad Laboratories, Inc.) USD 364.15 -0.25% · PODD (Insulet Corporation) USD 148.12 +4.38% · TXG (10x Genomics, Inc.) USD 69.75 -7.73% · GKOS (Glaukos Corporation) USD 176.69 -0.09% · GMED (Globus Medical, Inc.) USD 81.66 +3.79% · SNN (Smith & Nephew SNATS, Inc.) USD 30.88 +5.64%

## More
Full page: https://nexqual.com/BRKR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name BRKR in their own reports (relationship from BRKR's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | GLOBAL PARTNERS LP (GLP) | 10-K 2026-02-27 | "At Ernst & Young, Mr. Pereira was responsible for the Consumer Products practice in the Northeast Region and was the coordinating partner for Global Partners LP and other clients such as Bruker Corpor…" |
| customer | VERACYTE, INC. (VCYT) | 10-K 2026-02-26 | "For example, we rely on NanoString (now Bruker Spatial Biology as a result of Bruker Corporation's asset acquisition of NanoString) for certain components and raw materials for the Prosigna test and n…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Bsi Calid | $310.3M | 36.9% | +8.6% | $72.3M | 23.3% |
| Bsi Nano | $261.3M | 31.1% | +3.6% | $29.8M | 11.4% |
| Bsi Biospin | $195.7M | 23.3% | +0.2% | $41.7M | 21.3% |
| Energy & Supercon Technologies | $71.2M | 8.5% | +10.9% | $7.6M | 10.7% |
| Total revenue | $841.5M | 100% | — | -$65.3M | -7.8% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $663.7M | 78.9% | +4.6% |
| Product & Service Other | $174.8M | 20.8% | +7.4% |
| Total revenue | $841.5M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $248.2M | 29.5% | +11.4% |
| Europe Excluding Germany | $244.3M | 29.0% | +14.5% |
| Asia Pacific Excluding China | $112.4M | 13.4% | -11.8% |
| China | $104.9M | 12.5% | -8.5% |
| Germany | $64.4M | 7.7% | +9.0% |
| Other Country | $64.3M | 7.6% | +7.3% |
| Total revenue | $841.5M | 100% | — |

## Customer concentration

Period ended 2025-12-31: 10% of revenue from unnamed direct customers (10-K, filed 2026-02-27).

## Company outlook (8-K filed 2026-08-04)

- "Bruker continues to expect FY26 non-GAAP EPS of $2.10 to $2.15 compared to $1.83 in FY25, an increase of 15% to 17% year-over-year, now at an effective non-GAAP tax rate of 27.5%."
- "Our FY26 revenue and non-GAAP EPS guidance is based on foreign currency exchange rates as of June 30, 2026."
- "Quarterly Earnings Call Bruker will host a conference call and webcast to discuss its financial results, business outlook, and related corporate and financial matters today, August 4, 2026, at 9:00 am Eastern Daylight Time."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.42 | $0.55 | -24.5% | $865.2M | 12 |
| Next quarter (ends 2026-12-31) | $0.90 | $0.87 | +3.3% | $1.03B | 12 |
| Current fiscal year (ends 2026-12-31) | $2.12 | $2.12 | +0.0% | $3.56B | 13 |
| Next fiscal year (ends 2027-12-31) | $2.40 | $2.43 | -1.1% | $3.70B | 13 |