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Side-by-side financial comparison of BRUKER CORP (BRKR) and Waters Corporation (WAT). Click either name above to swap in a different company.

BRUKER CORP is the larger business by last-quarter revenue ($977.2M vs $932.4M, roughly 1.0× Waters Corporation). Waters Corporation runs the higher net margin — 24.2% vs 2.7%, a 21.5% gap on every dollar of revenue. On growth, Waters Corporation posted the faster year-over-year revenue change (6.8% vs -0.2%). Over the past eight quarters, Waters Corporation's revenue compounded faster (21.0% CAGR vs 16.4%).

Bruker Corporation is an American manufacturer of scientific instruments for molecular and materials research, as well as for industrial and applied analysis. It is headquartered in Billerica, Massachusetts, and is the publicly traded parent company of Bruker Scientific Instruments and Bruker Energy & Supercon Technologies (BEST) divisions.

Waters Corporation is an American company headquartered in Milford, Massachusetts that provides analytical instruments and software used for chromatography, mass spectrometry, laboratory informatics, and rheometry by the life sciences, materials, and food industries.

BRKR vs WAT — Head-to-Head

Bigger by revenue
BRKR
BRKR
1.0× larger
BRKR
$977.2M
$932.4M
WAT
Growing faster (revenue YoY)
WAT
WAT
+7.1% gap
WAT
6.8%
-0.2%
BRKR
Higher net margin
WAT
WAT
21.5% more per $
WAT
24.2%
2.7%
BRKR
Faster 2-yr revenue CAGR
WAT
WAT
Annualised
WAT
21.0%
16.4%
BRKR

Income Statement — Q4 2025 vs Q4 2025

Metric
BRKR
BRKR
WAT
WAT
Revenue
$977.2M
$932.4M
Net Profit
$26.0M
$225.2M
Gross Margin
46.0%
61.1%
Operating Margin
7.8%
29.0%
Net Margin
2.7%
24.2%
Revenue YoY
-0.2%
6.8%
Net Profit YoY
89.8%
-2.7%
EPS (diluted)
$0.10
$3.76

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BRKR
BRKR
WAT
WAT
Q4 25
$977.2M
$932.4M
Q3 25
$860.5M
$799.9M
Q2 25
$797.4M
$771.3M
Q1 25
$801.4M
$661.7M
Q4 24
$979.6M
$872.7M
Q3 24
$864.4M
$740.3M
Q2 24
$800.7M
$708.5M
Q1 24
$721.7M
$636.8M
Net Profit
BRKR
BRKR
WAT
WAT
Q4 25
$26.0M
$225.2M
Q3 25
$-59.6M
$148.9M
Q2 25
$7.6M
$147.1M
Q1 25
$17.4M
$121.4M
Q4 24
$13.7M
$231.4M
Q3 24
$40.9M
$161.5M
Q2 24
$7.6M
$142.7M
Q1 24
$50.9M
$102.2M
Gross Margin
BRKR
BRKR
WAT
WAT
Q4 25
46.0%
61.1%
Q3 25
44.1%
59.0%
Q2 25
44.9%
58.3%
Q1 25
48.8%
58.2%
Q4 24
50.4%
60.1%
Q3 24
48.4%
59.3%
Q2 24
48.0%
59.3%
Q1 24
48.9%
58.9%
Operating Margin
BRKR
BRKR
WAT
WAT
Q4 25
7.8%
29.0%
Q3 25
-6.0%
24.0%
Q2 25
1.5%
24.4%
Q1 25
4.0%
22.9%
Q4 24
7.4%
33.5%
Q3 24
7.9%
28.5%
Q2 24
6.0%
26.7%
Q1 24
9.0%
21.0%
Net Margin
BRKR
BRKR
WAT
WAT
Q4 25
2.7%
24.2%
Q3 25
-6.9%
18.6%
Q2 25
1.0%
19.1%
Q1 25
2.2%
18.3%
Q4 24
1.4%
26.5%
Q3 24
4.7%
21.8%
Q2 24
0.9%
20.1%
Q1 24
7.1%
16.0%
EPS (diluted)
BRKR
BRKR
WAT
WAT
Q4 25
$0.10
$3.76
Q3 25
$-0.41
$2.50
Q2 25
$0.05
$2.47
Q1 25
$0.11
$2.03
Q4 24
$0.09
$3.88
Q3 24
$0.27
$2.71
Q2 24
$0.05
$2.40
Q1 24
$0.35
$1.72

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BRKR
BRKR
WAT
WAT
Cash + ST InvestmentsLiquidity on hand
$298.8M
$587.8M
Total DebtLower is stronger
$1.9B
$1.4B
Stockholders' EquityBook value
$2.5B
$2.6B
Total Assets
$6.2B
$5.1B
Debt / EquityLower = less leverage
0.76×
0.55×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BRKR
BRKR
WAT
WAT
Q4 25
$298.8M
$587.8M
Q3 25
$293.1M
$459.1M
Q2 25
$92.0M
$367.2M
Q1 25
$184.2M
$382.9M
Q4 24
$183.4M
$325.4M
Q3 24
$148.1M
$331.5M
Q2 24
$169.7M
$327.4M
Q1 24
$340.1M
$338.2M
Total Debt
BRKR
BRKR
WAT
WAT
Q4 25
$1.9B
$1.4B
Q3 25
$2.0B
Q2 25
$2.4B
Q1 25
$2.1B
Q4 24
$2.1B
$1.6B
Q3 24
$2.3B
Q2 24
$2.2B
Q1 24
$1.4B
Stockholders' Equity
BRKR
BRKR
WAT
WAT
Q4 25
$2.5B
$2.6B
Q3 25
$2.4B
$2.3B
Q2 25
$1.8B
$2.2B
Q1 25
$1.8B
$2.0B
Q4 24
$1.8B
$1.8B
Q3 24
$1.8B
$1.6B
Q2 24
$1.8B
$1.4B
Q1 24
$1.4B
$1.3B
Total Assets
BRKR
BRKR
WAT
WAT
Q4 25
$6.2B
$5.1B
Q3 25
$6.4B
$4.9B
Q2 25
$6.3B
$4.7B
Q1 25
$5.9B
$4.6B
Q4 24
$5.8B
$4.6B
Q3 24
$6.1B
$4.5B
Q2 24
$5.9B
$4.4B
Q1 24
$4.5B
$4.5B
Debt / Equity
BRKR
BRKR
WAT
WAT
Q4 25
0.76×
0.55×
Q3 25
0.83×
Q2 25
1.34×
Q1 25
1.15×
Q4 24
1.18×
0.89×
Q3 24
1.27×
Q2 24
1.21×
Q1 24
0.97×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BRKR
BRKR
WAT
WAT
Operating Cash FlowLast quarter
$229.8M
$164.6M
Free Cash FlowOCF − Capex
$207.2M
FCF MarginFCF / Revenue
21.2%
Capex IntensityCapex / Revenue
2.3%
Cash ConversionOCF / Net Profit
8.84×
0.73×
TTM Free Cash FlowTrailing 4 quarters
$43.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BRKR
BRKR
WAT
WAT
Q4 25
$229.8M
$164.6M
Q3 25
$-33.2M
$187.3M
Q2 25
$-127.5M
$41.1M
Q1 25
$65.0M
$259.6M
Q4 24
$190.0M
$240.1M
Q3 24
$38.4M
$204.6M
Q2 24
$1.1M
$54.5M
Q1 24
$21.8M
$262.9M
Free Cash Flow
BRKR
BRKR
WAT
WAT
Q4 25
$207.2M
Q3 25
$-54.1M
Q2 25
$-148.8M
Q1 25
$39.0M
Q4 24
$153.3M
Q3 24
$5.8M
Q2 24
$-23.5M
Q1 24
$400.0K
FCF Margin
BRKR
BRKR
WAT
WAT
Q4 25
21.2%
Q3 25
-6.3%
Q2 25
-18.7%
Q1 25
4.9%
Q4 24
15.6%
Q3 24
0.7%
Q2 24
-2.9%
Q1 24
0.1%
Capex Intensity
BRKR
BRKR
WAT
WAT
Q4 25
2.3%
Q3 25
2.4%
Q2 25
2.7%
Q1 25
3.2%
Q4 24
3.7%
Q3 24
3.8%
Q2 24
3.1%
Q1 24
3.0%
Cash Conversion
BRKR
BRKR
WAT
WAT
Q4 25
8.84×
0.73×
Q3 25
1.26×
Q2 25
-16.78×
0.28×
Q1 25
3.74×
2.14×
Q4 24
13.87×
1.04×
Q3 24
0.94×
1.27×
Q2 24
0.14×
0.38×
Q1 24
0.43×
2.57×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

BRKR
BRKR

Bsi Nano$309.1M32%
Bsi Biospin$267.0M27%
Other$179.9M18%
Transferred Over Time$142.5M15%
Energy And Supercon Technologies$69.5M7%

WAT
WAT

Segment breakdown not available.

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