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Bruker Corp (BRKR)
NASDAQ:BRKR
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Bruker
(NASDAQ:BRKR)58Neutral
Positive Factors
Growth Prospects
BRKR guided for three GHz-class NMR placements entering 2025, with potential to deliver the same number as in 2024, which indicates growth prospects.
Innovative Products
BRKR's innovative product rollouts, such as the CosMx WTX panel and PaintScape platform, are expected to generate significant interest from researchers.
Negative Factors
NIH Funding Concerns
BRKR acknowledges the challenging environment due to potential cuts in NIH funding, which could hamper spending in the near-term.
Bruker (BRKR) vs. S&P 500 (SPY)
Market Cap
$7.04B
Dividend Yield0.43%
Average Volume (3M)1.72M
Price to Earnings (P/E)61.4
Beta (1Y)1.11
Revenue Growth13.56%
EPS Growth-73.92%
CountryUS
Employees9,707
SectorHealthcare
Sector Strength74
IndustryMedical Equipment & Supplies
Share Statistics
EPS (TTM)0.76
Shares Outstanding151,705,170
10 Day Avg. Volume1,833,871
30 Day Avg. Volume1,723,137
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)2.19
Price to Cash Flow (P/CF)46.10
P/FCF Ratio305.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$69.60Price Target Upside48.50% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
Bruker Business Overview & Revenue Model
Company DescriptionBruker Corp. engages in the development, manufacture, and distribution of scientific instruments, and analytical and diagnostic solutions that enable customers to explore life and materials at microscopic, molecular, and cellular levels. It operates through the Bruker Scientific Instruments (BSI), and Bruker Energy and Supercon Technologies (BEST) segments. The BSI segment comprises of the Bruker BioSpin Group, the Bruker CALID Group, and the Bruker Nano Group. The BEST segment designs, manufactures, and distributes superconducting materials, primarily metallic low temperature superconductors, for use in magnetic resonance imaging, nuclear magnetic resonance, fusion energy research and other applications. The company was founded by Gunther Laukien in 1961 and is headquartered in Billerica, MA.
How the Company Makes MoneyBruker makes money through the sale of its scientific instruments and related services. The company's revenue streams are primarily derived from the BSI segment, which includes the sale of products such as mass spectrometers, X-ray systems, and nuclear magnetic resonance (NMR) instruments. These products are essential for research and development in various scientific fields, contributing significantly to Bruker's earnings. Additionally, the company offers after-sales services, including maintenance and support, which provide a steady source of recurring revenue. Strategic partnerships and collaborations with research institutions and industry leaders also play a critical role in enhancing Bruker's market presence and driving sales.
Bruker Financial Statement Overview
Summary
Bruker demonstrates strong revenue growth, but faces challenges in profitability due to declining net income and increased leverage. Operational efficiency is notable, but falling net income and rising debt levels warrant attention. Effective cash management is crucial amid these fluctuations.Income Statement
Bruker's income statement reveals robust revenue growth, with a TTM (Trailing-Twelve-Months) increase from $2.96 billion to $3.37 billion, reflecting a 13.55% growth rate. Despite this, the net profit margin has decreased significantly from 14.41% in 2023 to 3.36% in TTM, primarily due to a decline in net income. Gross profit margin remains strong at 49.00%, indicating efficient production, but the drop in EBIT and EBITDA margins suggests rising operational expenses.72
Positive
Balance Sheet
The balance sheet indicates moderate stability, with a debt-to-equity ratio rising to 1.17, suggesting increased leverage. However, the equity ratio has improved slightly to 30.93%, indicating a decent portion of assets financed by equity. Return on equity fell to 6.29%, reflecting pressure on profitability. The company maintains a solid asset base but should be cautious of increasing debt levels.65
Positive
Cash Flow
Bruker's cash flow statement shows a decline in free cash flow from $243.2 million in 2023 to $133.8 million in TTM, marking a 44.99% decrease. The operating cash flow to net income ratio remains strong at 2.22, suggesting effective cash generation relative to profits. However, the drop in free cash flow indicates potential challenges in liquidity management.68
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 3.37B | 2.96B | 2.53B | 2.42B | 1.99B | Gross Profit |
| 1.65B | 1.51B | 1.31B | 1.21B | 939.80M | EBIT |
| 253.10M | 436.90M | 432.70M | 413.30M | 248.30M | EBITDA |
| 253.10M | 599.00M | 545.30M | 497.10M | 320.70M | Net Income Common Stockholders |
| 113.10M | 427.20M | 296.60M | 277.10M | 157.80M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 183.40M | 488.30M | 645.50M | 1.17B | 731.80M | Total Assets |
| 5.81B | 4.25B | 3.62B | 3.65B | 3.05B | Total Debt |
| 2.21B | 1.38B | 1.22B | 1.33B | 891.50M | Net Debt |
| 2.03B | 891.30M | 573.70M | 266.00M | 209.70M | Total Liabilities |
| 3.99B | 2.84B | 2.49B | 2.57B | 2.07B | Stockholders Equity |
| 1.78B | 1.38B | 1.13B | 1.08B | 975.60M |
| Cash Flow | Free Cash Flow | |||
| 133.80M | 243.20M | 143.00M | 190.40M | 235.00M | Operating Cash Flow |
| 251.20M | 350.10M | 262.00M | 282.40M | 333.20M | Investing Cash Flow |
| -1.76B | -326.00M | -239.30M | -192.40M | -193.70M | Financing Cash Flow |
| 1.23B | -193.40M | -415.20M | 318.70M | -161.60M |
Bruker Technical Analysis
Negative
46.87
Price Trends
55.40
Negative
56.91
Negative
61.32
Negative
Market Momentum
-2.46
Positive
32.76
Neutral
13.32
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRKR, the sentiment is Negative. The current price of 46.87 is below the 20-day moving average (MA) of 50.90, below the 50-day MA of 55.40, and below the 200-day MA of 61.32, indicating a bearish trend. The MACD of -2.46 indicates Positive momentum. The RSI at 32.76 is Neutral, neither overbought nor oversold. The STOCH value of 13.32 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRKR.
Bruker Risk Analysis
Bruker disclosed 37 risk factors in its most recent earnings report. Bruker reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bruker Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $194.88B | 31.23 | 12.78% | 0.30% | 0.05% | 6.87% | |
68 Neutral | $35.08B | 28.28 | 20.89% | 0.76% | -3.00% | 3.67% | |
65 Neutral | $147.01B | 38.89 | 7.87% | 0.52% | -13.50% | -17.25% | |
58 Neutral | $7.04B | 61.36 | 6.35% | 0.43% | 13.56% | -73.92% | |
49 Neutral | $7.05B | 0.34 | -55.09% | 2.46% | 25.27% | -3.43% | |
49 Neutral | $13.45B | ― | -51.54% | ― | -2.93% | -4.69% | |
48 Neutral | $7.11B | ― | -28.07% | ― | -3.92% | -202.80% |
* Healthcare Sector Average
Performance Comparison
BRKR
Bruker
46.87
-43.45
-48.11%
A
Agilent
126.51
-18.70
-12.88%
BIO
Bio-Rad Laboratories
260.34
-72.91
-21.88%
DHR
Danaher
210.56
-41.25
-16.38%
ILMN
Illumina
85.69
-45.63
-34.75%
TMO
Thermo Fisher
524.19
-65.70
-11.14%
Bruker Earnings Call Summary
Earnings Call Date: Feb 13, 2025 | % Change Since: -9.25% | Next Earnings Date: Apr 30, 2025
Earnings Call Sentiment Neutral
Bruker's earnings call highlighted strong revenue growth and strategic acquisition successes, positioning the company well for future growth. However, challenges such as NIH funding uncertainty, China market softness, and initial M&A dilution present headwinds. Despite these challenges, the company remains focused on margin expansion and EPS growth.Highlights
Strong Revenue Growth
Bruker reported revenues increased by 14.6% year-over-year in Q4 2024 to $979.6 million, with a constant exchange rate (CER) revenue growth of 15.8% and organic growth of 3.9%.
Above-Market Organic Growth
For fiscal year 2024, Bruker achieved a 4% organic revenue growth, outperforming the market, which was flat to down slightly.
Successful Strategic Acquisitions
Bruker added strategic platforms in spatial biology, molecular diagnostics, and lab automation, contributing to a 10% revenue growth from acquisitions.
Microbiology and Semiconductor Metrology Growth
The microbiology and infectious diagnostics business grew in the mid-teens percentage in Q4, while semiconductor metrology experienced over 20% organic growth.
Improved Operating Margins
Bruker achieved a non-GAAP operating margin of 18.1% in Q4, driven by 300 bps of organic operating margin expansion.
Lowlights
NIH Funding Uncertainty
There is uncertainty related to NIH and academic government market funding reductions, impacting revenue expectations.
China Market Softness
Bruker experienced softness in the China market, partially offsetting growth in other regions.
Dilution from Acquisitions
Initial margin and EPS dilution from strategic M&A was noted, with $0.08 to $0.10 EPS dilution expected in 2025.
Weak Biopharma Demand
Demand from the biopharma sector was softer in 2024, impacting related business segments.
Company Guidance
During the Bruker Corporation's Fourth Quarter 2024 Earnings Conference Call, the company outlined its financial guidance for the fiscal year 2025. Bruker expects constant exchange rate (CER) revenue growth of 5% to 7%, with organic growth anticipated at 3% to 4% and acquisitions contributing an additional 2% to 3%. The company also projects a 140 basis points (bps) improvement in non-GAAP operating profit margins, building on the 15.4% margin achieved in 2024. Furthermore, Bruker forecasts non-GAAP EPS growth of 11% to 13%, translating to a 14% to 16% increase when adjusted for constant exchange rates. These expectations are supported by a healthy backlog, strategic acquisitions in spatial biology, molecular diagnostics, and lab automation, and strong market trends in diagnostics and semiconductor metrology. However, the guidance also accounts for potential uncertainties in the U.S. NIH and academic government markets.Bruker Corporate Events
Executive/Board Changes
Bruker Expands Board with Appointment of Laura Francis
Positive
Feb 21, 2025
On February 18, 2025, Bruker Corporation expanded its Board of Directors to ten members, appointing Laura Francis as an independent director and future member of the Audit Committee. Francis, the CEO of SI-BONE, Inc., brings extensive experience in the medtech and life science industries, which is expected to aid Bruker’s growth and strategy execution.
Regulatory Filings and Compliance
Bruker Shares Limited Information Under SEC Regulations
Neutral
Jan 13, 2025
The current report from Bruker indicates that the information provided is not to be considered filed under certain sections of the Securities Exchange Act of 1934 and the Securities Act of 1933 unless specifically referenced. This implies that the company is sharing information but with limitations on its formal incorporation into legal filings, which may impact how stakeholders view or use this information.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.