Bruker Corporation 6.375% Mandatory Convertible Preferred Stock Series A (BRKRP)

FairStock Score: 32/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I view BRKRP first as a claim on Bruker's underlying business, because a mandatory convertible eventually becomes common equity. Bruker is a scientific-instrument maker with 11,085 employees and four segments, and I generally prefer businesses with durable demand. But the filed numbers show deteriorating earning power. In fiscal 2023, the year ended 2023-12-31, net income was $427.2M and diluted EPS was $2.90. In fiscal 2024, the year ended 2024-12-31, net income fell to $113.1M and diluted EPS to $0.76. In fiscal 2025, the year ended 2025-12-31, net income was -$8.6M and diluted EPS was -$0.15. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $838.5M, net income was -$52.0M, and diluted EPS was -$0.41. FairStock's calculations at the 2026-10-13 close of $417.37 show P/B of 26.70, EV/EBITDA of 241.32, FCF yield of 0.1%, ROE of -3.00%, ROCE of 3.14%, and Piotroski of 3/9. Altman Z of 11.42 suggests low immediate solvency risk, but solvency is not prosperity. The 6.375% coupon and 3.82% yield may comfort income holders, yet the mandatory conversion ties the security to an equity that is currently losing money. FairStock score is 43/100, and its Lynch category is TURNAROUND because of a loss in the latest year after earlier profits. Without conversion terms or a return to consistent profit, I see no margin of safety.

In plain English: Bruker makes scientific instruments used in medical and research labs. The business has recently been losing money and generates very little cash compared with its size. At $417.37, the price looks expensive against those weak profits and cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer