Rankings Pharma & medtech Bruker
Bruker
65
15070100
A view of the same findings, not a new score. How it works
A good business with a real question mark: the price, a crack, or both.
Biggest deductions
- Margin−6
- Multiples vs own history and peers−5
- ROIC−4
Strengths
- Margin improvement and savings+2
- Insider ownership+2
How the score is built
From 100 to 65, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 55.69 USD
- Median analyst target
- 64.50 USD
- Upside to median
- +15.8%
- Analysts
- 13
- Target range
- 50.00 – 80.00 USD
- 52-week change
- +43%
- P/E (trailing)
- n/a
- Forward P/E
- 24.8
- PEG
- 1.61
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 4 findings−17 of −30
- −6MarginGAAP operating margin has fallen from 17.6-18.1% in 2021-22 and 16.3% in 2023 to 8.1% in 2025 and 8.9% TTM; gross margin from 51.6% to 48.5%. The adjusted operating margin did, however, rise to 14.1% in Q2 (9.0%) on a savings programme.
- −4ROICROIC has fallen from 18.7-23.9% in 2021-23 to -2.7% in 2025 and 7.6% TTM, below a WACC of 9.5%.
- −4Capital allocationDebt-financed acquisitions in 2024 (including NanoString, ELITech, Chemspeed) have increased net debt from $0.24bn (2021) to $1.67bn, and in Q2 $135m of goodwill was written down on the loss-making automation and spatial biology businesses. Mandatory convertible preferred shares have also been issued ($10.9m in preferred dividends in Q2), which dilute.
- −3Quality of growthOrganic growth is guided to only 1–2% in 2026 after 2.1% total growth in 2025, and revenue guidance was lowered to $3.54–3.57bn (from 3.57–3.60). FCF margin is 2.7% TTM vs 8.2% in 2023, and FCF was −$59m in H1.
Price
Today's multiples against the company's own history and its peers. · 1 finding−5 of −35
- −5Multiples vs own history and peersForward P/E 24.4 vs 22.9-39.4 at the year-ends 2021-25 and EV/EBITDA 18.5 vs 17.9-25.1, i.e. in the low part of own range. P/FCF 89 and FCF yield 1.1% are, however, expensive, and the stock is up 51% in a year; forward P/E is above large tools peers like Thermo Fisher and Agilent (about 21-23).
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−13 of −35
- −4Academic demand and NIHUS academic demand was still weak in Q2, and director Frank Laukien called it the quarter's biggest weakness in revenue; federal research cuts have caused order volatility since 2025.
- −4China and tariffsAsia/Pacific revenue fell to $217.3m in Q2 ($242.1m), and the company cites uncertainty over US-China tariffs as a risk; tariff refunds flattered growth by 0.6 percentage points.
- −2ExecutionQ2 revenue of $838.5m was below the expectation of $853.6m due to customer-driven delivery shifts in semiconductor and energy research, and the stock fell sharply on the results; the stock also fell 10% after Q4 2025.
- −3DebtNet debt $1.67bn with net debt/EBITDA 3.1 (0.5 in 2021), only $185m in cash and interest cover 5.1.
Plus
Only documented strengths. · 2 findings+4 of +15
- +2Margin improvement and savingsAdjusted operating margin rose 510 bp to 14.1% in Q2, and the company is on track for $140m in annual savings in 2026; adjusted EPS guidance of $2.10-2.15 (+15-17%) was maintained despite currency headwinds.
- +2Insider ownershipInsiders own 31.9% of the shares (primarily the founding Laukien family, where Frank Laukien is CEO), which gives strong alignment of interests.
Caveats
What the score does not capture, or where the data is weak.
The Q3 report is expected on 2 Nov 2026 and is not included. GAAP figures are weighed down by a goodwill impairment of $135m in Q2 and restructuring costs; the adjusted operating margin is better than GAAP. There is no news from October beyond analyst revisions (including J.P. Morgan down to Hold on 14 Oct, reason not found). Insider trades and the composition of the order book have not been investigated in detail.
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