A Business at a Glance
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MERCURY SYSTEMS INC
MRCY
$6.0B
Mkt Cap
$103.27
-2.89%
MERCURY SYSTEMS INC (MRCY) has a 5-year average return on invested capital (ROIC) of -0.8%. This is below average and may indicate limited pricing power.
MERCURY SYSTEMS INC (MRCY) has a market capitalization of $6.1B. It is classified as a mid-cap stock.
MERCURY SYSTEMS INC (MRCY) does not currently pay a regular dividend.
MERCURY SYSTEMS INC (MRCY) operates in the Electronic Components & Accessories industry, within the Technology sector.
MERCURY SYSTEMS INC (MRCY) reported annual revenue of $912 million in its most recent fiscal year, based on SEC EDGAR filings.
MERCURY SYSTEMS INC (MRCY) has a net profit margin of -4.2%. The company is currently unprofitable.
MERCURY SYSTEMS INC (MRCY) generated $119 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Our Company Mercury Systems is a technology company that delivers mission-critical processing to the edge - where signals and data are collected - to solve the most pressing aerospace and defense challenges. Mercury’s products and solutions are deployed in more than 300 programs and across 35 countries. The Company is headquartered in Andover, Massachusetts, and has over 20 locations worldwide. The Mercury Processing Platform is the unique advantage we provide to our customers. It comprises the innovative technologies we’ve developed and acquired for more than 40 years that bring integrated, mission-critical processing to the edge. Our processing platform spans the full breadth of signal processing—from radio frequency (“RF”) front end to the human-machine interface—to rapidly convert meaningful data, gathered in the most remote and hostile environments, into critical decisions.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 967M | 912M | 835M | 974M | 988M | 924M |
| Net Income | -14M | -38M | -138M | -28M | 11M | 62M |
| EPS | $-0.24 | $-0.65 | $-2.38 | $-0.50 | $0.20 | $1.12 |
| Free Cash Flow | 73M | 119M | 26M | -60M | -47M | 52M |
| ROIC | 0.4% | -1.8% | -6.5% | -1.4% | 1.1% | 4.8% |
| Gross Margin | 28.7% | 27.9% | 23.5% | 32.5% | 40.0% | 41.7% |
| Debt/Equity | 0.40 | 0.40 | 0.40 | 0.37 | 0.33 | 0.13 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 9.4M | -20M | -148M | -22M | 32M | 81M |
| Operating Margin | 1.0% | -2.2% | -17.7% | -2.2% | 3.2% | 8.8% |
| ROE | -1.0% | -2.6% | -9.1% | -1.8% | 0.7% | 4.3% |
| Shares Outstanding | 59M | 58M | 58M | 57M | 56M | 55M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 209M | 235M | 270M | 409M | 493M | 655M | 797M | 924M | 988M | 974M | 835M | 912M | 967M |
| Gross Margin | 45.4% | 48.6% | 47.2% | 46.9% | 45.8% | 43.7% | 44.8% | 41.7% | 40.0% | 32.5% | 23.5% | 27.9% | 28.7% |
| R&D | 36M | 37M | 36M | 54M | 59M | 69M | 98M | 113M | 107M | 109M | 101M | 68M | 55M |
| SG&A | 54M | 49M | 53M | 76M | 88M | 111M | 132M | 134M | 157M | 161M | 167M | 154M | 165M |
| EBIT | -7.4M | 18M | 24M | 37M | 47M | 77M | 91M | 81M | 32M | -22M | -148M | -20M | 9.4M |
| Op. Margin | -3.5% | 7.8% | 8.9% | 9.2% | 9.5% | 11.7% | 11.4% | 8.8% | 3.2% | -2.2% | -17.7% | -2.2% | 1.0% |
| Net Income | -11M | 10M | 20M | 25M | 41M | 47M | 86M | 62M | 11M | -28M | -138M | -38M | -14M |
| Net Margin | -5.5% | 4.4% | 7.3% | 6.1% | 8.3% | 7.1% | 10.8% | 6.7% | 1.1% | -2.9% | -16.5% | -4.2% | -1.5% |
| Non-Recurring | 12M | 5.8M | 1.6M | 2.0M | 3.4M | 629K | 1.8M | 4.8M | 9.5M | 3.9M | 26M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -3.5% | 5.1% | 4.3% | 4.7% | 5.7% | 6.2% | 7.6% | 4.8% | 1.1% | -1.4% | -6.5% | -1.8% | 0.4% |
| ROE | -3.5% | 3.1% | 4.8% | 4.2% | 5.5% | 4.5% | 6.4% | 4.3% | 0.7% | -1.8% | -9.1% | -2.6% | -1.0% |
| ROA | -3.1% | 2.7% | 3.5% | 3.2% | 4.3% | 3.8% | 5.7% | 3.5% | 0.5% | -1.2% | -5.8% | -1.6% | -0.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 14M | 32M | 37M | 59M | 43M | 98M | 115M | 97M | -19M | -21M | 60M | 139M | 98M |
| Free Cash Flow | 7.5M | 26M | 29M | 26M | 28M | 71M | 72M | 52M | -47M | -60M | 26M | 119M | 73M |
| Owner Earnings | -11M | 9.6M | 12M | 12M | -16M | 32M | 39M | 1.9M | -151M | -146M | -53M | 32M | -8.5M |
| CapEx | 6.7M | 6.0M | 7.9M | 33M | 15M | 27M | 43M | 46M | 28M | 39M | 34M | 20M | 25M |
| Maint. CapEx | 16M | 14M | 16M | 32M | 42M | 46M | 49M | 67M | 93M | 97M | 88M | 82M | 75M |
| Growth CapEx | 0 | 0 | 0 | 575K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 16M | 14M | 16M | 32M | 42M | 46M | 49M | 67M | 93M | 97M | 88M | 82M | 75M |
| CapEx/OCF | 47.1% | 18.6% | 21.3% | 55.5% | 34.9% | 27.4% | 37.6% | 46.9% | N/A | N/A | 56.8% | 14.3% | 25.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 944K | 8.0M | 8.8M | 16M | 8.0M | 16M | 66K | 8.2M | 63K | 31K | 0 | 0 |
| Buyback Yield | N/A | 0.2% | 0.9% | 0.5% | 0.9% | 0.2% | 0.4% | 0.0% | 0.2% | 0.0% | 0.0% | N/A | 0.0% |
| Stock-Based Comp | 9.2M | 8.7M | 9.6M | 15M | 17M | 19M | 27M | 28M | 38M | 28M | 26M | 25M | 32M |
| Debt Repayment | 0 | 0 | 0 | 200M | 15M | 325M | 200M | 0 | 0 | 80M | 25M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | -78M | 121M | -42M | 128M | -258M | -227M | 86M | 446M | 505M | 411M | 282M | 260M |
| Cash & Equiv. | 47M | 78M | 82M | 42M | 67M | 258M | 227M | 114M | 66M | 72M | 181M | 309M | 332M |
| Long-Term Debt | N/A | 0 | 192M | 0 | 195M | 0 | 0 | 200M | 511M | 577M | 592M | 592M | 592M |
| Debt/Equity | 0.14 | 0.00 | 0.43 | 0.00 | 0.25 | 0.00 | 0.00 | 0.13 | 0.33 | 0.37 | 0.40 | 0.40 | 0.40 |
| Interest Coverage | -151.1 | 539.9 | 20.5 | 4.9 | 16.5 | 8.4 | 90.5 | 66.3 | 5.4 | -0.9 | -4.2 | -0.6 | 0.3 |
| Equity | 327M | 350M | 473M | 725M | 772M | 1.3B | 1.4B | 1.5B | 1.5B | 1.6B | 1.5B | 1.5B | 1.5B |
| Total Assets | 374M | 387M | 736M | 816M | 1.1B | 1.4B | 1.6B | 2.0B | 2.3B | 2.4B | 2.4B | 2.4B | 2.5B |
| Total Liabilities | 47M | 37M | 263M | 90M | 293M | 132M | 226M | 471M | 767M | 825M | 906M | 961M | 1.0B |
| Intangibles | 25M | 18M | 117M | 129M | 178M | 206M | 209M | 308M | 352M | 298M | 251M | 211M | 185M |
| Retained Earnings | 84M | 94M | 114M | 139M | 180M | 227M | 312M | 374M | 386M | 357M | 220M | 182M | 151M |
| Working Capital | 127M | 142M | 178M | 173M | 260M | 484M | 509M | 492M | 621M | 704M | 719M | 758M | 766M |
| Current Assets | 160M | 176M | 245M | 246M | 332M | 582M | 635M | 643M | 815M | 937M | 954M | 1.1B | 1.1B |
| Current Liabilities | 33M | 33M | 68M | 73M | 72M | 98M | 126M | 151M | 194M | 233M | 234M | 300M | 350M |
| Per Share Data | |||||||||||||
| EPS | -0.37 | 0.31 | 0.56 | 0.58 | 0.86 | 0.96 | 1.56 | 1.12 | 0.20 | -0.50 | -2.38 | -0.65 | -0.24 |
| Owner EPS | -0.34 | 0.29 | 0.33 | 0.27 | -0.34 | 0.65 | 0.72 | 0.03 | -2.67 | -2.58 | -0.92 | 0.55 | -0.14 |
| Book Value | 10.59 | 10.47 | 13.42 | 16.91 | 16.24 | 26.37 | 25.20 | 26.79 | 27.27 | 27.65 | 25.47 | 25.27 | 24.84 |
| Cash Flow/Share | 0.46 | 0.96 | 1.05 | 1.38 | 0.91 | 2.00 | 2.10 | 1.76 | -0.33 | -0.38 | 1.04 | 2.38 | 1.03 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 30.9M | 33.4M | 35.3M | 42.9M | 47.5M | 48.7M | 54.9M | 55.4M | 56.4M | 56.7M | 57.8M | 58.3M | 59.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | 48.2 | 43.1 | 71.9 | 44.0 | 73.3 | 50.3 | 60.4 | 308.2 | N/A | N/A | N/A | -438.6 |
| P/FCF | 46.6 | 19.1 | 29.3 | 68.0 | 63.7 | 48.4 | 60.0 | 72.5 | N/A | N/A | 59.8 | 26.2 | 83.6 |
| EV/EBIT | N/A | 18.8 | 37.1 | 45.6 | 39.6 | N/A | 42.4 | 45.9 | 120.1 | N/A | N/A | N/A | 683.8 |
| Price/Book | 1.1 | 1.4 | 1.8 | 2.5 | 2.3 | 2.7 | 3.1 | 2.5 | 2.3 | 1.2 | 1.1 | 2.1 | 4.2 |
| Price/Sales | 1.6 | 1.9 | 2.3 | 3.3 | 4.4 | 4.2 | 5.3 | 4.4 | 3.2 | 2.8 | 2.3 | 2.6 | 6.4 |
| FCF Yield | 2.1% | 5.2% | 3.4% | 1.5% | 1.6% | 2.1% | 1.7% | 1.4% | -1.3% | -3.2% | 1.7% | 3.8% | 1.2% |
| Market Cap | 351M | 500M | 851M | 1.8B | 1.8B | 3.4B | 4.3B | 3.7B | 3.5B | 1.9B | 1.6B | 3.1B | 6.1B |
| Avg. Price | 10.81 | 13.55 | 17.99 | 31.60 | 45.90 | 55.90 | 77.15 | 73.43 | 56.34 | 48.54 | 33.10 | 41.26 | 103.27 |
| Year-End Price | 11.38 | 14.94 | 24.14 | 41.73 | 37.80 | 70.35 | 78.47 | 67.63 | 61.64 | 32.87 | 26.99 | 53.41 | 103.27 |
MERCURY SYSTEMS INC passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 62.4x vs a median of 59.9x. The company's 5-year average gross margin is 33.1%. At current prices, the estimated annualized return to fair value is +3.4%.
MERCURY SYSTEMS INC (MRCY) has a debt-to-equity ratio of 0.40. This indicates a conservatively financed balance sheet.
MERCURY SYSTEMS INC (MRCY) reported earnings per share (EPS) of $-0.65 in its most recent fiscal year.
MERCURY SYSTEMS INC (MRCY) has a return on equity (ROE) of -2.6%. A negative ROE may indicate losses or negative equity.
MERCURY SYSTEMS INC (MRCY) has a 5-year average gross margin of 33.1%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for MERCURY SYSTEMS INC (MRCY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MERCURY SYSTEMS INC (MRCY) has a book value per share of $25.27, based on its most recent annual SEC filing.