BRKR Intrinsic Value

BRKR

Bruker Corp – Analytical Laboratory Instrument Manufacturing

right from the beginning, which is now more than fifty years ago, bruker has been driven by a single idea: to provide the best technological solution for each analytical task. today, worldwide, more than 6,500 employees in over 90 locations on all continents are focusing their efforts on this permanent challenge. bruker systems cover a broad spectrum of applications in all fields of research and development and are used in all industrial production processes for the purpose of ensuring quality and process reliability. bruker continues to build upon its extensive range of products and solutions, expand its broad base of installed systems and maintain a strong reputation amongst its customers. as one of the world's leading analytical instrumentation companies, bruker remains focused on developing state-of-the-art technologies and innovative solutions for today’s ever complex analytical questions. bruker - innovation with integrity. bruker corporation company pages bruker axs: https://www

Analysis Results

Intrinsic Value	$71.25
Latest Price	$62.70
Relative Value	12% undervalued

Share results:

Thoughts on this result? Let us know.

Cash Flow (Millions)

Analysis Parameters

New Ticker

Analysis Details

Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 13.2%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 13.2%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year	Future flow (million)	Present value (million)
2023	447	414
2024	505	435
2025	572	456
2026	647	479
2027	733	503

Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 12800 million. This corresponds to a present value of 8180 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2290 million. Adding in the terminal value gives a total present value of 10500 million.

There are presently 147.0 million outstanding shares, so the intrinsic value per share is 71.25.

Financial Statements

The following data was to determine the past cash flows.

Current Assets	2,113,200,000
Current Cash	645,500,000
Current Liabilities	914,300,000
Current Debt	18,700,000
Non-Cash Working Capital (NCWC)	572,100,000
Change in NCWC	94,600,000
EBIT	462,600,000
Tax Provision	116,400,000
Depreciation and Amortization	88,800,000
Capital Expenditure	-129,200,000
Unlevered Free Cash Flow	387,017,787

Current Assets	2,471,800,000
Current Cash	1,168,200,000
Current Liabilities	938,500,000
Current Debt	112,400,000
Non-Cash Working Capital (NCWC)	477,500,000
Change in NCWC	74,000,000
EBIT	427,600,000
Tax Provision	113,000,000
Depreciation and Amortization	89,100,000
Capital Expenditure	-92,000,000
Unlevered Free Cash Flow	375,938,821

Current Assets	1,925,000,000
Current Cash	731,800,000
Current Liabilities	791,900,000
Current Debt	2,200,000
Non-Cash Working Capital (NCWC)	403,500,000
Change in NCWC	-62,800,000
EBIT	273,200,000
Tax Provision	64,400,000
Depreciation and Amortization	80,400,000
Capital Expenditure	-97,200,000
Unlevered Free Cash Flow	115,681,133

Current Assets	1,796,300,000
Current Cash	684,900,000
Current Liabilities	645,600,000
Current Debt	500,000
Non-Cash Working Capital (NCWC)	466,300,000
Change in NCWC	65,200,000
EBIT	307,400,000
Tax Provision	82,400,000
Depreciation and Amortization	75,600,000
Capital Expenditure	-73,000,000
Unlevered Free Cash Flow	284,865,620

Current Assets	1,304,300,000
Current Cash	322,400,000
Current Liabilities	599,300,000
Current Debt	18,500,000
Non-Cash Working Capital (NCWC)	401,100,000
Change in NCWC	6,000,000
EBIT	281,900,000
Tax Provision	63,700,000
Depreciation and Amortization	64,900,000
Capital Expenditure	-49,200,000
Unlevered Free Cash Flow	230,216,142

Current Assets	1,358,800,000
Current Cash	439,200,000
Current Liabilities	524,500,000
Current Debt	0
Non-Cash Working Capital (NCWC)	395,100,000
Change in NCWC	124,100,000
EBIT	234,400,000
Tax Provision	117,500,000
Depreciation and Amortization	63,900,000
Capital Expenditure	-43,700,000
Unlevered Free Cash Flow	239,458,341

Current Assets	1,275,900,000
Current Cash	500,300,000
Current Liabilities	524,700,000
Current Debt	20,100,000
Non-Cash Working Capital (NCWC)	271,000,000
Change in NCWC	61,600,000
EBIT	203,000,000
Tax Provision	23,100,000
Depreciation and Amortization	54,300,000
Capital Expenditure	-37,100,000
Unlevered Free Cash Flow	255,396,283

Current Assets	1,231,600,000
Current Cash	468,300,000
Current Liabilities	554,600,000
Current Debt	700,000
Non-Cash Working Capital (NCWC)	209,400,000
Change in NCWC	-77,500,000
EBIT	170,700,000
Tax Provision	23,100,000
Depreciation and Amortization	53,300,000
Capital Expenditure	-34,200,000
Unlevered Free Cash Flow	81,493,984

Current Assets	1,366,300,000
Current Cash	497,500,000
Current Liabilities	582,700,000
Current Debt	800,000
Non-Cash Working Capital (NCWC)	286,900,000
Change in NCWC	-58,400,000
EBIT	138,100,000
Tax Provision	41,700,000
Depreciation and Amortization	59,700,000
Capital Expenditure	-33,800,000
Unlevered Free Cash Flow	48,751,332

Current Assets	1,431,900,000
Current Cash	438,700,000
Current Liabilities	648,600,000
Current Debt	700,000
Non-Cash Working Capital (NCWC)	345,300,000
Change in NCWC	26,700,000
EBIT	176,800,000
Tax Provision	42,800,000
Depreciation and Amortization	61,300,000
Capital Expenditure	-50,300,000
Unlevered Free Cash Flow	153,769,341

Current Assets	1,309,700,000
Current Cash	310,600,000
Current Liabilities	681,800,000
Current Debt	1,300,000
Non-Cash Working Capital (NCWC)	318,600,000
Change in NCWC	42,600,000
EBIT	193,700,000
Tax Provision	60,100,000
Depreciation and Amortization	59,100,000
Capital Expenditure	-72,800,000
Unlevered Free Cash Flow	138,425,234

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.