Bruker Corporation (BRKR): A Bull Case Theory

We came across a bullish thesis on Bruker Corporation on Notes From The Beauty Contest’s Substack by Crashkolnikov. In this article, we will summarize the bulls’ thesis on BRKR. Bruker Corporation’s share was trading at $32.07 as of August 5^th. BRKR’s trailing and forward P/E were 61.67 and 13.14, respectively according to Yahoo Finance.

Bruker Corporation (BRKR) delivered its second-quarter earnings after issuing preliminary results in late July, reaffirming the significant challenges facing the company this year. The primary headwinds remain the sharp decline in U.S. academic and government research funding, with NIH budgets under pressure, and uncertainty around U.S. trade policy. These issues, flagged earlier in the year, have intensified, forcing BRKR to revise guidance downward once again after already lowering expectations in Q1.

The company now estimates NIH funding to be down about 15% year-to-date, with Q2 seeing the steepest impact. This has weighed heavily on demand for high-end research instruments, particularly from U.S. pharma and industrial clients, while delays in releasing stimulus funds have further softened Chinese academic orders. Although tariffs have recently begun to see some resolution, visibility remains limited.

The market’s reaction has been predictably harsh, punishing the stock for negative earnings momentum and uncertainty. Management admits prior optimism was misplaced when characterizing Q1 guidance as a “floor with upside,” given how sharply conditions have deteriorated since then. Nevertheless, Bruker’s long-term fundamentals remain intact, and CEO Frank Laukien emphasized the company’s ability to control what it can—continuing to invest in innovation and maintaining leadership in life science tools.

While near-term pressures persist, Bruker remains a critical player in enabling advanced research, and its management has historically adapted well to cyclical funding challenges. For investors with patience, the current dislocation may offer an opportunity once funding and macro conditions stabilize.

Previously, we covered a bullish thesis on Bruker Corporation by FckYouMoney in May 2025, which highlighted temporary margin pressure, weaker China demand, and reorganization costs masking strong fundamentals and undervaluation. The company’s stock price has depreciated by approximately 21.26% since our coverage, as recovery has not yet materialized. The thesis still stands given Bruker’s resilient core markets. Crashkolnikov shares a similar view but emphasizes funding cuts and guidance downgrades.

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Disclosure: None.