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what it is
Bruker sells scientific tools that help labs read molecules, minerals, and magnetic signals across $3.4B of annual revenue.
how it gets paid
Last year Bruker made $3.4B in revenue. Mass spectrometry and proteomics was the main engine at $1.2B, or 35% of sales.
why it's growing
Revenue grew 2.1% last year. 45.9% gross margin was the number that mattered because it shows how much of each sales dollar survived direct costs.
what just happened
Bruker posted $2.5B in revenue, but EPS was -$0.25 and gross margin was 45.9%.
At a glance
B+ balance sheet — decent shape, but not bulletproof
35/100 earnings predictability — expect surprises
22.0x trailing p/e — priced about right
0.4% dividend yield — cash in your pocket every quarter
10.0% return on capital — nothing to write home about
xvary composite: 48/100 — below average
What they do
Bruker sells scientific tools that help labs read molecules, minerals, and magnetic signals across $3.4B of annual revenue.
You do not replace a Bruker system like office software. The instruments sit inside your workflow, and leaving means retraining people around a new machine. Bruker has 11,400 employees and 45% debt-to-capital now versus 56% a year ago, so the business is sturdier than it was.
How they make money
$3.4B
annual revenue · their business grew +2.1% last year
Mass spectrometry and proteomics
$1.2B
X-ray systems
$0.8B
Magnetic resonance tools
$0.6B
Spectroscopy and microscopy
$0.5B
Molecular diagnostics and services
$0.3B
The products that matter
mass spectrometry and nmr instruments
Life Science Tools
$2.2B · about 65% of shown segment revenue
This $2.2B segment grew 3% last year and serves pharma, biotech, and academic research. It is the center of gravity. If this business is merely steady instead of strong, the rest of the story has less room to impress you.
largest segment
diffraction, scattering, and microscopy
X-ray & Materials Analysis
$1.2B · about 35% of shown segment revenue
This $1.2B segment grew 1% last year. It gives Bruker another revenue stream, but not a fast enough one to hide a margin problem somewhere else.
steady, not fast
new product and partnership pipeline
Commercial launches
feb 2026 updates
The iNTApharma launch on Feb 9, 2026 and the expanded Noetik AI partnership on Feb 24, 2026 matter because the mature base is growing just 1–3% here. New products do not need to save the company. They do need to prove Bruker still has a growth lane beyond cost cuts.
future demand
Key numbers
$67
18-month target
The target is 38% above $48.44. That is real upside, but only if the 2.0% operating margin stops acting like a paper cut.
$3.4B
annual revenue
You are buying a $3.4B business, so the market is not pricing a science fair project.
2.0%
operating margin
For every $100 of sales, Bruker keeps $2 before interest and taxes. The other $98 goes somewhere else.
45%
debt load
Debt is 45% of capital, down from 56% a year ago. That is better, not safe.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 35 / 100
- long-term debt $2.0B (21% of capital)
- net profit margin 10.1% — keeps 10 cents of every dollar in revenue
- return on equity 16% — $0.16 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in BRKR 3 years ago → it's now worth $6,810.
The index would have given you $14,770.
source: institutional data · total return
What just happened
missed estimates
Bruker posted $2.5B in revenue, but EPS was -$0.25 and gross margin was 45.9%.
Revenue jumped 186% vs. prior year, but the quarter still showed a loss. That is a recovery, not a clean win.
$2.5B
revenue
-$0.25
eps
45.9%
gross margin
the number that mattered
45.9% gross margin was the number that mattered because it shows how much of each sales dollar survived direct costs.
-
the equity seems to be back in investors’ good graces.
-
to wit, brkr stock has jumped approximately 29% in value since our early november review, versus a relatively flat performance by the s&p 500 index over the same time frame.
-
bruker’s finances have improved of late.the company ended the september interim with $293.1 million in cash on hand (up from $148.1 million a year ago), and long-term debt of $1.984 billion (down from $2.265 billion 12 months ago).
-
as a result, bruker’s debt-to-capital ratio now stands at 45%, versus 56% this time last year.
-
at this juncture, investors with a short-term bias can find more alluring alternatives elsewhere.indeed, based on recent price and earnings momentum, bruker stock carries a outlook rank of 4, making it an unappealing selection for the coming six to 12 months.
source: company earnings report, 2026
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What could go wrong
Bruker's risk stack is unusually specific right now: margins already cracked, growth is only modest, and the balance sheet does not give you endless room to wait.
med
margin pressure turns from quarter problem into business model problem
Q4 gross margin fell to 46% from 50% a year earlier. Non-GAAP operating income dropped from $110.7M to $72.0M. One ugly quarter happens. A repeat tells you the old earnings base was too generous.
With a 9.0% net profit margin last year, Bruker does not have a lot of spare economics to burn before the market resets what it will pay for the stock.
med
the capital structure leaves less room for bad timing
Bruker carries $1.9B in long-term debt against $298.8M in cash, and the balance sheet grade is B+, not A+. The September 2025 convertible offering already showed you that financing decisions can move the stock fast.
If margins stay soft and cash stays tight, more debt or dilution becomes a bigger part of the story than investors want.
med
growth stays too slow to outrun the reset
Total revenue grew 4.3% last year, but the segment growth shown here is 3% in Life Science Tools and 1% in X-ray & Materials. That is not collapse. It is also not enough to bail out margins on its own.
If revenue stays in the low single digits, the $100–$120M cost-savings plan has to carry most of the recovery case.
A 439-basis-point gross-margin drop already cut non-GAAP operating income by $38.7M in the quarter. That's what this risk looks like in dollars, not adjectives.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
whether 46% gross margin was the floor
If gross margin stays near 46% instead of moving back toward the 50% level from a year earlier, the recovery case weakens fast.
guidance
delivery against the $100–$120M savings plan
Management gave you the repair target for 2026. The next few quarters need to show where that money is actually coming from.
product
early traction for iNTApharma and the Noetik AI tie-up
New launches and partnerships only matter if they help a business growing 1–3% by segment here find a faster lane.
capital structure
any repeat of the financing overhang
The September 2025 convertible debt move hit the stock in a day. With $1.9B of long-term debt and just $298.8M in cash, capital decisions still matter.
Analyst rankings
short-term outlook
below average
momentum score 4 — in human-speak, analysts do not expect this stock to lead over the next six to 12 months.
risk profile
average
stability score 3 — typical stock risk, but recent operating swings keep it from feeling defensive.
chart momentum
below average
technical score 4 — the tape still looks like a stock that has to earn back trust.
earnings predictability
35 / 100
Earnings predictability this low means your quarter-to-quarter experience may be noisier than the product story suggests.
source: institutional data
Institutional activity
171 buyers vs. 215 sellers in 3q2025. total institutional holdings: 0.1B shares.
source: institutional data
Price targets
3-5 year target range
$33
$100
$48
current price
$67
target midpoint · +38% from current · 3-5yr high: $110 (+125% · 23% ann'l return)
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