BRKRP
Bruker Corporation
$420.49
Platform & Compounding FCF
50%
Two-stage FCF DCF
Strong
·
Conviction
Overvalued
Trading 106834.4% above fair value
You pay
$420.49
Bear
$0.00
Fair
$0.39
Bull
$2.82
Bear
$0.00
-100.0%
5% stage 1 growth, 12% discount
Fair
$0.39
-99.9%
9% stage 1 growth, 12% discount
Bull
$2.82
-99.3%
11% stage 1 growth, 12% discount
Adjust Assumptions
8.6%
12.0%
3.0%
Key Value Driver
FCF growth rate (9% base case)
Terminal Value % of EV
33%
Implied Market Multiple
618.5x
Market is pricing in (growth)
59.2%
vs 8.6% base
Summary
Using a two-stage FCF DCF with 9% growth decelerating over 15 years, discounted at 12%, the base-case intrinsic value is $0.39 per share.
Key Risks
- P/E alone misleads — earnings depressed by growth investment
- Cyclical or commodity businesses may be misclassified as platforms
- Terminal value dominance suggests sensitivity to long-run assumptions