DCF Tool

BRKR

Bruker Corp – Analytical Laboratory Instrument Manufacturing
Bruker is enabling scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker's high-performance scienti c instruments and high-value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. In close cooperation with its customers, Bruker is enabling innovation, improved productivity and customer success in life science molecular research, in applied and pharma applications, in microscopy and nanoanalysis, and in industrial applications, as well as in cell biology, preclinical imaging, clinical phenomics and proteomics research and clinical microbiology.
Analysis Results
Intrinsic Value $57.36
Latest Price $66.83
Relative Value 17% overvalued
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Cash Flow (Millions)
Analysis Parameters
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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 14.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 14.1%, 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)
2022 413 379
2023 471 398
2024 538 418
2025 614 438
2026 701 460
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 10500 million. This corresponds to a present value of 6340 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2090 million. Adding in the terminal value gives a total present value of 8440 million.

There are presently 147.0 million outstanding shares, so the intrinsic value per share is 57.36.

Financial Statements

The following data was to determine the past cash flows.

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.