MERCURY SYSTEMS, INC. financials
Source: EDGAR filings · Built 2026-06-02T03:35:19Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 119.05M | 26.09M | -60.05M | -46.52M | 51.65M | 71.89M |
| EBITDA | 62.40M | -59.72M | 75.64M | 125.03M | 148.08M | 140.39M |
| Working Capital | 757.80M | 719.37M | 703.75M | 621.33M | 492.28M | 508.85M |
| Net Debt | -244.55M | -106.32M | 5.67M | 15.48M | -32.31M | -152.91M |
| Gross Margin | 27.90% | 23.45% | 32.52% | 39.97% | 41.69% | 44.80% |
| Operating Margin | -2.15% | -17.69% | -2.23% | 3.20% | 8.77% | 11.43% |
| Net Margin | -4.16% | -16.48% | -2.91% | 1.14% | 6.71% | 10.76% |
| Return on Equity (ROE) | -2.57% | -9.35% | -1.81% | 0.73% | 4.18% | 6.19% |
| Return on Assets (ROA) | -1.56% | -5.79% | -1.18% | 0.49% | 3.17% | 5.32% |
| Current Ratio | 3.52× | 4.07× | 4.02× | 4.20× | 4.26× | 5.04× |
| Debt-to-Equity | 0.04× | 0.05× | 0.05× | 0.05× | 0.05× | 0.05× |
| Effective Tax Rate | 24.83% | 27.28% | 41.63% | 38.71% | 19.60% | 8.75% |
| Cash Conversion Ratio | -3.66× | -0.44× | 0.75× | -1.67× | 1.57× | 1.34× |
| Accruals Ratio | -0.07× | -0.08× | -0.00× | 0.01× | -0.02× | -0.02× |
| SBC % of Revenue | 2.74% | 3.07% | 2.85% | 3.88% | 3.06% | 3.33% |
| CapEx Coverage | 7.01× | 1.76× | -0.55× | -0.68× | 2.13× | 2.66× |
| Free Cash Flow Per Share | $2.03 | $0.45 | $-1.06 | $-0.83 | $0.93 | $1.30 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | 320.00× | 58.93× | 51.46× |
| P/FCF | 26.36× | 59.73× | — | — | 70.89× | 61.54× |
| FCF Yield | 3.79% | 1.67% | — | — | 1.41% | 1.63% |
| EV / EBITDA | 46.58× | — | 26.12× | 28.63× | 24.40× | 29.93× |
| P/S | 3.46× | 1.88× | 2.02× | 3.61× | 3.95× | 5.47× |
| P/B | 2.14× | 1.06× | 1.26× | 2.32× | 2.46× | 3.14× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenues | 912.02M | 835.27M | 973.88M | 988.20M | 924.00M | 796.61M |
| Cost of Revenue | 657.53M | 639.37M | 657.15M | 593.24M | 538.81M | 439.77M |
| Gross Profit | 254.49M | 195.90M | 316.73M | 394.96M | 385.19M | 356.84M |
| Research and Development Expense | 67.65M | 101.33M | 108.80M | 107.17M | 113.48M | 98.48M |
| Selling, General and Administrative Expense | 154.41M | 166.79M | 160.64M | 157.04M | 134.34M | 132.25M |
| Operating Expenses | 274.12M | 343.65M | 338.41M | 363.35M | 304.19M | 265.78M |
| Operating Income (Loss) | -19.63M | -147.75M | -21.68M | 31.61M | 81.00M | 91.06M |
| Income Tax Expense (Benefit) | -12.52M | -51.63M | -20.21M | 7.12M | 15.13M | 8.22M |
| Net Income (Loss) Attributable to Parent | -37.90M | -137.64M | -28.34M | 11.28M | 62.04M | 85.71M |
| Earnings Per Share, Basic | $-0.65 | $-2.38 | $-0.50 | $0.20 | $1.13 | $1.57 |
| Weighted Average Number of Shares Outstanding, Basic | 58.75M | 57.74M | 56.55M | 55.53M | 55.07M | 54.55M |
| Earnings Per Share, Diluted | $-0.65 | $-2.38 | $-0.50 | $0.20 | $1.12 | $1.56 |
| Weighted Average Number of Shares Outstanding, Diluted | 58.75M | 57.74M | 56.55M | 55.90M | 55.47M | 55.12M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 309.10M | 180.52M | 71.56M | 65.65M | 113.84M | 226.84M |
| Assets, Current | 1.06B | 953.78M | 937.02M | 815.25M | 643.10M | 634.77M |
| Assets | 2.43B | 2.38B | 2.39B | 2.30B | 1.96B | 1.61B |
| Liabilities, Current | 300.38M | 234.42M | 233.26M | 193.93M | 150.82M | 125.92M |
| Liabilities | 961.30M | 906.13M | 824.68M | 767.23M | 470.99M | 225.94M |
| Stockholders' Equity Attributable to Parent | 1.47B | 1.47B | 1.57B | 1.54B | 1.48B | 1.38B |
| Common Stock, Shares, Outstanding | 59.00M | 58.09M | 56.96M | 55.68M | 55.24M | 54.25M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 138.85M | 60.38M | -21.25M | -18.87M | 97.25M | 115.18M |
| Payments to Acquire Property, Plant, and Equipment | 19.80M | 34.29M | 38.80M | 27.66M | 45.60M | 43.29M |
| Net Cash Provided by (Used in) Investing Activities | -13.50M | -34.29M | -38.56M | -274.32M | -416.89M | -135.49M |
| Payments for Repurchase of Common Stock | 0 | 31.00K | 63.00K | 8.21M | 66.00K | 16.25M |
| Net Cash Provided by (Used in) Financing Activities | 1.41M | 82.68M | 65.43M | 245.75M | 206.23M | -10.93M |
Derived Metrics
| Concept | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 39.52M | 41.34M | -4.37M | 33.98M | 85.07M | 61.01M |
| EBITDA | — | — | 10.32M | 43.52M | — | — |
| Working Capital | 766.24M | 749.11M | 762.44M | 757.80M | 722.94M | 717.15M |
| Net Debt | -283.46M | -284.03M | -251.09M | -244.55M | -214.51M | -184.76M |
| Gross Margin | 29.29% | 26.04% | 27.93% | 31.04% | 27.02% | 27.26% |
| Operating Margin | 2.22% | -4.65% | -3.82% | 8.62% | -8.21% | -5.56% |
| Net Margin | -1.21% | -6.48% | -5.56% | 5.99% | -9.07% | -7.88% |
| Return on Equity (ROE) | -0.19% | -1.03% | -0.85% | 1.11% | -1.32% | -1.20% |
| Return on Assets (ROA) | -0.12% | -0.60% | -0.51% | 0.67% | -0.79% | -0.73% |
| Current Ratio | 3.19× | 2.96× | 3.37× | 3.52× | 3.44× | 3.62× |
| Debt-to-Equity | 0.03× | 0.03× | 0.04× | 0.04× | 0.04× | 0.04× |
| Effective Tax Rate | -6.48% | 13.54% | 24.32% | 13.00% | 12.14% | 27.67% |
| Cash Conversion Ratio | -21.05× | -3.56× | -0.17× | 2.33× | -5.26× | -4.03× |
| Accruals Ratio | -0.03× | -0.03× | -0.01× | -0.01× | -0.05× | -0.04× |
| SBC % of Revenue | 12.39% | 8.66% | 4.25% | 0.89% | 10.69% | 6.30% |
| CapEx Coverage | 2.91× | 4.32× | 0.33× | 9.29× | 6.42× | 7.23× |
| Free Cash Flow Per Share | $0.67 | $0.70 | $-0.07 | $0.58 | $1.45 | $1.04 |
Valuation Metrics
Income Statement
| Concept | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|---|---|
| Revenues | 235.76M | 232.87M | 225.21M | 273.11M | 211.36M | 223.13M |
| Cost of Revenue | 166.71M | 172.24M | 162.31M | 188.34M | 154.25M | 162.30M |
| Gross Profit | 69.05M | 60.63M | 62.90M | 84.77M | 57.11M | 60.83M |
| Research and Development Expense | 15.01M | 15.38M | 13.18M | 11.91M | 15.98M | 21.37M |
| Selling, General and Administrative Expense | 39.14M | 42.14M | 45.91M | 37.71M | 43.04M | 40.50M |
| Operating Expenses | 63.82M | 71.45M | 71.50M | 61.22M | 74.45M | 73.24M |
| Operating Income (Loss) | 5.23M | -10.82M | -8.60M | 23.55M | -17.34M | -12.41M |
| Income Tax Expense (Benefit) | 174.00K | -2.36M | -4.02M | 2.45M | -2.65M | -6.72M |
| Net Income (Loss) Attributable to Parent | -2.86M | -15.10M | -12.52M | 16.37M | -19.17M | -17.58M |
| Earnings Per Share, Basic | $-0.04 | $-0.26 | $-0.21 | $0.28 | $-0.33 | $-0.30 |
| Weighted Average Number of Shares Outstanding, Basic | 59.42M | 59.41M | 59.19M | 58.75M | 58.75M | 58.56M |
| Earnings Per Share, Diluted | $-0.04 | $-0.26 | $-0.21 | $0.28 | $-0.33 | $-0.30 |
| Weighted Average Number of Shares Outstanding, Diluted | 59.42M | 59.41M | 59.19M | 58.75M | 58.75M | 58.56M |
Balance Sheet
| Concept | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 331.80M | 334.99M | 304.72M | 309.10M | 269.82M | 242.56M |
| Assets, Current | 1.12B | 1.13B | 1.08B | 1.06B | 1.02B | 990.68M |
| Assets | 2.48B | 2.50B | 2.46B | 2.43B | 2.41B | 2.40B |
| Liabilities, Current | 350.50M | 383.04M | 322.18M | 300.38M | 296.56M | 273.53M |
| Liabilities | 1.00B | 1.04B | 982.58M | 961.30M | 963.33M | 941.18M |
| Stockholders' Equity Attributable to Parent | 1.48B | 1.46B | 1.48B | 1.47B | 1.45B | 1.46B |
| Common Stock, Shares, Outstanding | 59.50M | 59.38M | 59.43M | 59.00M | 58.85M | 58.66M |
Cash Flow Statement
| Concept | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 60.23M | 53.79M | 2.18M | 38.08M | 100.78M | 70.80M |
| Payments to Acquire Property, Plant, and Equipment | 20.71M | 12.45M | 6.55M | 4.10M | 15.71M | 9.79M |
| Net Cash Provided by (Used in) Investing Activities | -22.13M | -12.45M | -6.55M | -2.40M | -11.11M | -7.89M |
| Payments for Repurchase of Common Stock | 15.00M | 15.00M | — | 0 | 0 | 0 |
| Net Cash Provided by (Used in) Financing Activities | -15.43M | -15.43M | 0 | 2.17M | -757.00K | -757.00K |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (MRCY CIK 0001049521),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.