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Maker of scientific instruments (mass spectrometry, NMR, X-ray) for life-science research, applied and clinical microbiology markets.
Maker of scientific instruments (mass spectrometry, NMR, X-ray) for life-science research, applied and clinical microbiology markets.
Sells high-priced laboratory instruments to universities, government labs, drugmakers and hospitals, then earns repeat income from service contracts, upgrades and consumables on the installed base. Orders depend on research budgets, notably public research funding at universities. It has expanded into spatial biology and diagnostics through acquisitions, including NanoString in 2024.
Moat: narrow (installed base, switching costs, IP / patents). Specialized, technically differentiated instruments with an installed base among research and clinical microbiology labs.
Headquarters: Billerica, Massachusetts, USA · Founded: 1960 · Employees: 11,085
Size Bruker (BRKR) is a United States Health Care company (Medical Specialties) with a market value of $9.34B, the 811th largest of 3,117 United States companies the cockpit tracks. Shares closed at $61.31 on 6 Nov 2026.
Performance Over six months the shares gained 38.8%, against +27.0% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 2.2% over the last twelve months (peer median +4.6%); the operating margin is 9.3% (peer median 15.5%).
Valuation It trades at 26.2× forward earnings against a peer median of 19.7× (6th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +14 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 3.8 points below its cost of capital (10.3% WACC).
Backlog Backlog (remaining performance obligations) was $2.78B at 30 Sep 2026, up 34% on a year earlier — 0.8 years of trailing revenue. Backlog detail →
Short interest Short interest is 8.3% of the free float (15 Oct 2026).
Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.51B | $3.44B | $3.37B | $2.96B | $2.53B |
| Revenue growth | — | +2% | +14% | +17% | — |
| Gross profit | $1.67B | $1.64B | $1.66B | $1.52B | $1.31B |
| EBITDA | $557M | $500M | $564M | $597M | $548M |
| Net income | -$123M | -$8.60M | $113M | $427M | $297M |
| Free cash flow | $245M | $43.3M | $136M | $243M | $145M |
| Capital expenditure | $97.1M | $90.8M | $115M | $107M | $129M |
| Total debt | $1.71B | $2.04B | $2.25B | $1.38B | $1.27B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Bruker BRKR | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
| Agilent Technologies A | $49.3B | +51% | +9% | 24% | 26.6× | 22.6% |
| Waters WAT | $45.0B | +29% | +81% | 10% | 28.6× | 46.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BRKR | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.8% | +12.2% | 7th lowest of 21 |
| 6-month return | +38.8% | +27.0% | 9th highest of 21 |
| Distance from 52-week high | -11.1% | -12.0% | 9th highest of 21 |
| Revenue growth (TTM) | +2.2% | +4.6% | 6th lowest of 21 |
| Operating margin | 9.3% | 15.5% | 4th lowest of 21 |
| Forward P/E | 26.2× | 19.7× | 6th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 25.7% | 8.9% | 3rd most demanding of 20 |
| Growth delivered (Del g) | +11.6% | +9.8% | 6th highest of 20 |
| Hurdle (Req g minus delivered) | +14.1 pp | +0.9 pp | 4th most demanding of 20 |
| ROIC minus cost of capital | -3.8 pp | +2.7 pp | 3rd lowest of 21 |
| EV / EBITDA | 19.7× | 12.8× | 4th most expensive of 18 |
| Net debt / EBITDA | 2.9× | 0.5× | 4th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Bruker BRKR | United States | $9.34B | +39% | +2% | 9% | 26.2× | 25.7% | +11.6% |
| Globus Medical GMED | United States | $9.54B | -9% | +20% | 22% | 14.1× | 5.5% | +30.1% |
| Insulet PODD | United States | $10.2B | -5% | +26% | 18% | 19.5× | 10.3% | +24.5% |
| Bio-Rad Laboratories BIO | United States | $10.3B | +50% | +1% | 9% | 35.7× | 26.5% | +0.3% |
| Qiagen QGEN | United States | $10.4B | +52% | +3% | 25% | 19.8× | 8.8% | +2.2% |
| Avantor AVTR | United States | $10.5B | +86% | +1% | 8% | 17.7× | 16.1% | +0.5% |
| Sysmex 6869.T | Japan | $7.89B | +50% | +4% | 13% | 31.2× | 4.4% | +10.4% |
| Shimadzu 7701.T | Japan | $7.79B | +15% | +6% | 13% | 19.5× | 6.3% | +7.3% |
| Getinge GETI-B.ST | Sweden | $7.73B | +45% | -4% | 14% | 21.0× | 4.7% | +3.2% |
| Demant A/S DEMANT.CO | Denmark | $11.6B | +62% | +10% | 18% | 25.7× | 6.8% | +9.8% |
| Align Technology ALGN | United States | $11.8B | -2% | +4% | 19% | 13.9× | 11.4% | +10.3% |
| Cooper Companies (The) COO | United States | $11.9B | +4% | +5% | 19% | 13.8× | 9.4% | +11.0% |
| Bausch + Lomb BLCO.TO | Canada | $7.20B | +31% | +11% | 9% | 17.3× | 11.0% | +10.0% |
| Olympus 7733.T | Japan | $12.2B | +13% | +8% | 16% | 18.0× | -1.5% | +6.7% |
| Shenzhen New Industries Biomedical Engineering 300832.SZ | China | $7.11B | +25% | +7% | 43% | 25.5× | 2.1% | +15.7% |
| bioMerieux BIM.PA | France | $12.4B | +29% | -3% | 15% | 20.9× | 8.9% | +5.5% |
| Cochlear COH.AX | Australia | $7.05B | +55% | -1% | 13% | 29.4× | 24.1% | +9.3% |
| Penumbra PEN | United States | $12.6B | -1% | +17% | 12% | 54.9× | 30.1% | +20.2% |
| Smith & Nephew SN..L | United Kingdom | $13.1B | +5% | +2% | 17% | 14.4× | 11.1% | +5.6% |
| Lantheus LNTH | United States | $6.57B | +8% | +2% | 19% | 17.5× | -0.5% | +35.3% |
| Glaukos GKOS | United States | $13.3B | +68% | +47% | -9% | 155.4× | n/a | n/a |
Bruker reported $2.78B of remaining performance obligations at 30 Sep 2026, up 34% from a year earlier and flat from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.