BRUKER CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BRUKER CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,611	1,766	1,896	2,073	1,988	2,418	2,531	2,965	3,366	3,437
Cost of revenue	866	950	996	1,077	1,048	1,208	1,225	1,451	1,717	1,859
Gross profit	745	816	900	995	940	1,210	1,306	1,513	1,650	1,578
Research and development	148	162	173	188	198	221	236	295	377	395
Selling, general and administrative	390	415	445	500	469	561	607	729	894	947
Operating expenses	564	597	638	694	692	796	873	1,076	1,396	1,510
Operating income	182	220	262	301	248	413	433	437	253	68.2
Interest expense	13.2	15.4	12.6	16	14.4	14.3	16.1	16.4	47.9	60.3
Interest income	0.3	0.8	1.2	1.3	3.2	0.9	2.8	7.5	9.3	14.8
Other non-operating income	-4.2	-21.7	-17.7	-20.5	-22.5	-19.7	-18.8	107	-46.2	-46.2
Pre-tax income	178	198	245	280	226	394	414	544	207	22
Income tax	23.1	118	63.7	82.4	64.4	113	116	118	91.4	29.3
Net income to minority interests	0.9	1.7	1.3	0.8	3.6	3.5	1.9	1.3	0.7	0.3
Net income	154	78.6	180	197	158	277	297	427	113	-8.6
EBITDA	236	283	327	377	329	502	522	552	437	289
EPS, basic	0.95	0.50	1.15	1.27	1.03	1.83	2.00	2.92	0.76	-0.15
EPS, diluted	0.95	0.49	1.14	1.26	1.02	1.81	1.99	2.90	0.76	-0.15
Shares, basic (weighted)	161	158	156	0	0	0	0	146	149	152
Shares, diluted (weighted)	162	159	157	0	0	0	0	147	150	152
Dividend per share	0.16	0.16	0.16	0.16	0.16	0.16	0.16	0.20	0.20

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	342	325	322	678	682	1,068	646	488	183	299
Short-term investments		114	0	6.6	50	100	0
Receivables	244	319	357	362	335	417	473	492	566	545
Inventory	440	486	510	577	692	710	800	968	1,068	1,095
Other current assets	91.3	114	115	172	166	172	194	216	237	274
Total current assets	1,276	1,359	1,304	1,796	1,925	2,472	2,113	2,164	2,053	2,213
Property, plant and equipment	239	267	271	306	396	406	487	600	669	745
Lease right-of-use assets				65.6	67.4	59.9	51.2	91.7	146	166
Goodwill	131	170	276	293	320	340	458	583	1,507	1,548
Intangible assets	69.7	82.4	219	233	229	212	271	331	913	900
Other non-current assets	16.6	14	8.4	16.8	39.6	70.8	155	184	233	837
Total assets	1,808	1,949	2,129	2,772	3,049	3,650	3,612	4,250	5,807	6,241
Accounts payable	86.1	90.8	105	118	135	147	178	203	234	216
Accrued liabilities	83.8	105	104	106	111	132	136	167	188	180
Deferred revenue	75.5	112	124	138	189	198	218	400	438	441
Short-term debt	20.1		18.5	0.5	2.2	112	18.7	121	32.5	16.6
Total current liabilities	525	525	599	646	792	939	914	1,202	1,281	1,279
Long-term debt	392	416	323	813	842	1,222	1,201	1,160	2,062	1,853
Lease liabilities				47	47	41.8	34.8	74.8	119	139
Other non-current liabilities	39.6	96.3	99.1	114	176	162	121	240	311	599
Total liabilities	1,115	1,215	1,224	1,854	2,075	2,565	2,480	2,837	3,992	3,731
Total debt	412	416	341	813	845	1,334	1,219	1,282	2,094	1,869
Paid-in capital	125	156	177	200	216	238	256	283	713	1,415
Retained earnings	885	942	1,103	1,275	1,407	1,660	1,926	2,324	2,407	2,362
Treasury stock	-249	-401	-402	-544	-667	-820	-1,085	-1,237	-1,237	-1,242
Other comprehensive income	-75.9	27	17	-25.5	3.7	-8.2	14.8	6	-104	-79.5
Shareholders' equity	686	725	897	907	961	1,071	1,114	1,377	1,781	2,457
Minority interests	6.7	8.1	8.5	10.3	13.1	14.1	11.9	17.4	15.9	17
Total equity	693	734	905	917	974	1,085	1,126	1,395	1,797	2,474
Total liabilities and equity	1,808	1,949	2,129	2,772	3,049	3,650	3,612	4,250	5,807	6,241
Shares outstanding	160	156	157	154	152	151	147	145	152	152

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	155	80.3	181	198	161	281	299	429	114	-8.3
Depreciation and amortization	54.3	63.9	64.9	75.6	80.4	89.1	88.8	115	184	220
Stock-based compensation	9.4	11	11.3	9.6	16	17.2	27.7	30.9	25.3	20.2
Deferred income tax	-34.6	40.6	-15.1	-5.4	-22.5	-5.8	-14.8	-24.4	-63.8	-105
Change in receivables	-8.4	-55.5	-30.5	-5	40.8	-95.3	-67.9	-0.9	-40.6	54.2
Change in inventory	-43.2	-6.6	-35.5	-60.2	-91.6	-67	-138	-125	-69.8	12.1
Change in payables	-19.6	33.7	5	15.9	-2.4	61.4	33.3	1.2	20.8	-37.5
Cash from operations	131	154	240	213	332	282	274	350	251	134
Capital expenditures	-37.1	-43.7	-49.2	-73	-97.2	-92	-129	-107	-115	-90.8
Acquisitions	-24.3	-66.3	-192	-90	-59.2	-65	-182	-227	-1,600	-73.9
Purchases of investments	-127	-119		-6.4	-1.2	-148	0	0
Sales and maturities of investments	165	187
Cash from investing	-21.8	-30.2	-123	-158	-193	-192	-252	-326	-1,757	-197
Debt issued				598	0	493	0.3	2	974	3.5
Debt repaid	-0.1			-15		-0.8	-111	-23.5	-135	-467
Stock issued	11.5	20	9.4	10.9	3.3	7	2.8	9.5	409	7.9
Share buybacks	-160	-152		-142	-123	-153	-263	-152	0	-10
Dividends paid	-25.8	-25.4	-25.1	-25	-24.6	-24.2	-29.8	-29.4	-30.2	-22.8
Cash from financing	-27.9	-159	-112	300	-162	319	-415	-193	1,230	135
Exchange rate effect	-6.4	17.8	-6.5	0.6	25.7	-22.5	-30.5	12.2	-28.7	43.7
Net change in cash	74.7	-17	-2.6	356	3.6	386	-423	-157	-305	116
Free cash flow	93.7	111	191	140	235	190	145	243	136	43.3
Interest paid	12.5	15.2	11.7	16	28.7	19.6	24.3	33.7	54.6	71
Income taxes paid	72.4	53.1	60.5	61.3	43	146	147	96.6	154	223

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $470.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	46.4%	Gross profit / revenue.
Operating margin	-0.9%	Operating income / revenue.
EBITDA margin	5.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.6%	Pre-tax income / revenue.
Net margin	-2.0%	Net income / revenue.
FCF margin	2.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	5.4%	Cash from operations / revenue.
Return on assets (ROA)	-1.2%	Net income / average total assets.
R&D / revenue	11.2%	Research and development expense / revenue.
SG&A / revenue	27.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	6.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-73.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-46.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-22.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-34.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-17.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-2.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-107.6%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-119.7%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-46.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-21.2%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-16.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-68.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-33.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-28.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	37.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	30.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	20.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	20.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	9,953.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1,479.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.85x	Current assets / current liabilities.
Quick ratio	0.61x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.15x	(Cash + short-term investments) / current liabilities.
Debt / assets	30.1%	Total debt / total assets.
Liabilities / assets	60.3%	Total liabilities / total assets.
Net debt	$1.64B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	8.22x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.50x	Operating income / interest expense.
Working capital	$1.02B	Current assets - current liabilities.
Goodwill and intangibles / assets	38.0%	(Goodwill + intangible assets) / total assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.58x	Revenue / average total assets.
Fixed asset turnover	4.90x	Revenue / average property, plant and equipment.
Inventory turnover	1.67x	Cost of revenue / average inventory.
Days inventory	218 days	365 x average inventory / cost of revenue.
Receivables turnover	6.41x	Revenue / average receivables.
Days sales outstanding	57 days	365 x average receivables / revenue.
Days payables	39 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	236 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	50.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.47	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$22.98	Revenue / diluted weighted shares.
FCF per share	$0.62	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.25	Cash from operations / diluted weighted shares.
Cash per share	$1.21	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	24.1%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$71.69B	Share price x shares outstanding.
Enterprise value	$73.33B	Market cap + total debt - cash - short-term investments.
P/S	20.5x	Market cap / revenue.
P/FCF	763x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	377x	Market cap / cash from operations, when positive.
EV/Sales	21.0x	Enterprise value / revenue.
EV/EBITDA	368x	Enterprise value / EBITDA, when both are positive.
EV/FCF	781x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.1%	Free cash flow / market cap.
Earnings yield	-0.1%	Net income / market cap (the inverse of P/E).
Dividend yield	0.0%	Dividends paid over the period / market cap.
Shareholder yield	0.0%	(Dividends paid + share buybacks) / market cap.

What was BRUKER CORP's revenue in fiscal 2025?

BRUKER CORP reported revenue of $3.44B for fiscal 2025, 2.1% higher than the year before.

Was BRUKER CORP profitable in fiscal 2025?

No. It reported a net loss of $8.6M.

How much free cash flow did BRUKER CORP generate in fiscal 2025?

Cash from operations of $134.1M minus capital expenditures of $90.8M left free cash flow of $43.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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