MRCY · Mercury Systems Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $235.76M | $232.87M | $225.21M | $223.13M | $211.36M | $204.43M | $197.46M | $208.26M | $180.99M | $229.59M |
| Cost of Revenue | $166.71M | $172.24M | $162.31M | $162.30M | $154.25M | $152.64M | $165.94M | $167.62M | $130.46M | $148.63M |
| Gross Profit | $69.05M | $60.63M | $62.90M | $60.83M | $57.11M | $51.79M | $31.52M | $40.64M | $50.53M | $80.96M |
| R&D | $15.01M | $15.38M | $13.18M | $21.37M | $15.98M | $18.38M | $28.48M | $21.56M | $31.87M | $26.91M |
| SG&A | $39.14M | $42.14M | $45.91M | $40.50M | $43.04M | $33.15M | $44.47M | $43.16M | $35.79M | $45.06M |
| Total Operating Expenses | $63.82M | $71.45M | $71.50M | $73.24M | $74.45M | $65.21M | $85.45M | $86.30M | $90.73M | $88.51M |
| D&A | $9.73M | $9.77M | $18.91M | - | - | $21.22M | - | - | $22.69M | - |
| Operating Income | $5.23M | ($10.82M) | ($8.60M) | ($12.41M) | ($17.34M) | ($13.42M) | ($53.93M) | ($45.66M) | ($40.20M) | ($7.55M) |
| Interest Expense | $7.33M | $7.85M | $7.89M | $8.43M | $8.07M | $8.91M | $8.67M | $9.32M | $7.86M | $6.59M |
| Income Tax | $174.0K | ($2.36M) | ($4.02M) | ($6.72M) | ($2.65M) | ($5.59M) | ($18.14M) | ($12.64M) | ($13.03M) | ($2.15M) |
| Net Income | ($2.86M) | ($15.10M) | ($12.52M) | ($17.58M) | ($19.17M) | ($17.52M) | ($45.58M) | ($44.57M) | ($36.71M) | ($10.92M) |
| EPS - Basic | ($0.04) | ($0.26) | ($0.21) | ($0.30) | ($0.33) | ($0.30) | ($0.79) | ($0.77) | ($0.64) | ($0.19) |
| EPS - Diluted | ($0.04) | ($0.26) | ($0.21) | ($0.30) | ($0.33) | ($0.30) | ($0.79) | ($0.77) | ($0.64) | ($0.19) |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $331.80M | $334.99M | $304.72M | $309.10M | $269.82M | $158.12M | $180.52M | $142.65M | $89.37M | $71.56M |
| Accounts Receivable | $95.55M | $105.83M | $92.65M | $109.59M | $103.40M | $124.55M | $111.44M | $91.78M | $91.45M | $124.73M |
| Inventory | $361.69M | $349.64M | $340.25M | $332.92M | $352.69M | $351.09M | $335.30M | $343.01M | $362.91M | $337.22M |
| Accounts Payable | $104.07M | $106.18M | $97.81M | $79.12M | $73.55M | $74.74M | $81.07M | $79.91M | $95.83M | $103.99M |
| Current Assets | $1.12B | $1.13B | $1.08B | $1.06B | $1.02B | $954.32M | $953.78M | $951.51M | $954.70M | $937.02M |
| Total Assets | $2.48B | $2.50B | $2.46B | $2.43B | $2.41B | $2.37B | $2.38B | $2.38B | $2.40B | $2.39B |
| Current Liabilities | $350.50M | $383.04M | $322.18M | $300.38M | $296.56M | $232.79M | $234.42M | $207.57M | $205.32M | $233.26M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $1.00B | $1.04B | $982.58M | $961.30M | $963.33M | $909.14M | $906.13M | $905.38M | $859.95M | $824.68M |
| Stockholders' Equity | $1.48B | $1.46B | $1.48B | $1.47B | $1.45B | $1.46B | $1.47B | $1.47B | $1.54B | $1.57B |
| Retained Earnings | $151.42M | $154.28M | $169.38M | $181.90M | $165.53M | $202.27M | $219.80M | $230.58M | $320.73M | $357.44M |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | $2.18M | - | - | ($14.66M) | - | - | ($39.07M) | - |
| Investing Cash Flow | - | - | ($6.55M) | - | - | ($6.24M) | - | - | ($8.02M) | - |
| Financing Cash Flow | - | - | $0 | - | - | ($2.25M) | - | - | $65.00M | - |
| CapEx | - | - | $6.55M | - | - | $6.24M | - | - | $8.02M | - |
| Free Cash Flow | - | - | ($4.37M) | - | - | ($20.90M) | - | - | ($47.08M) | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 29.3% | 26.0% | 27.9% | 27.3% | 27.0% | 25.3% | 16.0% | 19.5% | 27.9% | 35.3% |
| Operating margin | 2.2% | -4.6% | -3.8% | -5.6% | -8.2% | -6.6% | -27.3% | -21.9% | -22.2% | -3.3% |
| EBITDA margin | 6.3% | -0.5% | 4.6% | - | - | 3.8% | - | - | -9.7% | - |
| Net margin | -1.2% | -6.5% | -5.6% | -7.9% | -9.1% | -8.6% | -23.1% | -21.4% | -20.3% | -4.8% |
| Free cash flow margin | - | - | -1.9% | - | - | -10.2% | - | - | -26.0% | - |
| FCF / Net income | - | - | 0.35 | - | - | 1.19 | - | - | 1.28 | - |
| R&D / Revenue | 6.4% | 6.6% | 5.9% | 9.6% | 7.6% | 9.0% | 14.4% | 10.4% | 17.6% | 11.7% |
| SG&A / Revenue | 16.6% | 18.1% | 20.4% | 18.2% | 20.4% | 16.2% | 22.5% | 20.7% | 19.8% | 19.6% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -0.1% | -0.6% | -0.5% | -0.7% | -0.8% | -0.7% | -1.9% | -1.9% | -1.5% | -0.5% |
| Return on equity | -0.2% | -1.0% | -0.8% | -1.2% | -1.3% | -1.2% | -3.1% | -3.0% | -2.4% | -0.7% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.19 | 2.96 | 3.37 | 3.52 | 3.44 | 4.10 | 4.07 | 4.58 | 4.65 | 4.02 |
| Quick ratio | 2.15 | 2.04 | 2.31 | 2.41 | 2.25 | 2.59 | 2.64 | 2.93 | 2.88 | 2.57 |
| Cash ratio | 0.95 | 0.87 | 0.95 | 1.03 | 0.91 | 0.68 | 0.77 | 0.69 | 0.44 | 0.31 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 0.7x | -1.4x | -1.1x | -1.5x | -2.1x | -1.5x | -6.2x | -4.9x | -5.1x | -1.1x |
| Equity multiplier | 1.68 | 1.71 | 1.67 | 1.65 | 1.66 | 1.62 | 1.62 | 1.61 | 1.56 | 1.53 |
| Liabilities / Assets | 0.40 | 0.42 | 0.40 | 0.39 | 0.40 | 0.38 | 0.38 | 0.38 | 0.36 | 0.34 |
| Efficiency | ||||||||||
| Asset turnover | 0.10 | 0.09 | 0.09 | 0.09 | 0.09 | 0.09 | 0.08 | 0.09 | 0.08 | 0.10 |
| Inventory turnover | 0.46 | 0.49 | 0.48 | 0.49 | 0.44 | 0.43 | 0.49 | 0.49 | 0.36 | 0.44 |
| Days sales outstanding | 148d | 166d | 150d | 179d | 179d | 222d | 206d | 161d | 184d | 198d |
| Days inventory outstanding | 792d | 741d | 765d | 749d | 835d | 840d | 738d | 747d | 1015d | 828d |
| Days payable outstanding | 228d | 225d | 220d | 178d | 174d | 179d | 178d | 174d | 268d | 255d |
| Cash conversion cycle | 712d | 682d | 695d | 750d | 839d | 883d | 765d | 734d | 932d | 771d |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 2.9x | 3.0x | 3.1x | 2.1x | 1.7x | 1.5x | 1.1x | 1.2x | 1.4x | 1.2x |
| P / S | 18.0x | 18.9x | 20.2x | 14.0x | 11.9x | 10.7x | 7.8x | 8.2x | 11.7x | 8.5x |
| EV / EBITDA | 261.4x | - | 411.2x | - | - | 259.8x | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 11.5% | 4.4% | 10.2% | 13.0% | 1.5% | 13.0% | -14.0% | -21.0% | -20.5% | 4.2% |
| Revenue CAGR (3y) | -3.6% | 0.5% | -0.3% | 0.4% | -5.8% | -3.1% | -2.1% | -6.8% | -4.2% | 5.8% |
| Revenue CAGR (5y) | -1.7% | 2.0% | 1.8% | 2.8% | 0.3% | 2.9% | 4.4% | 3.6% | 4.7% | 14.3% |
| Gross profit growth (YoY) | 20.9% | -0.3% | 21.5% | 93.0% | 40.5% | 2.5% | -61.1% | -55.0% | -35.3% | -7.2% |
| Operating income growth (YoY) | - | 12.9% | 35.9% | 77.0% | 62.0% | 66.6% | -614.6% | - | -458.8% | -1850.1% |
| Net income growth (YoY) | 85.1% | 14.1% | 28.6% | 61.4% | 57.0% | 52.3% | -317.4% | - | -156.1% | -313.8% |
| EPS growth (YoY) | 87.9% | 13.3% | 30.0% | 62.0% | 57.1% | 53.1% | -315.8% | - | -146.2% | -280.0% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | 79.1% | - | - | 55.6% | - | - | 35.8% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 1.8% | -0.9% | 1.0% | 0.0% | -1.5% | -5.3% | -6.0% | -5.6% | 0.1% | 5.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-06-27.
Product / service
$3.10B totalIntegrated Subsystems$475.94M · 15.3%
Airborne$410.68M · 13.2%
C4 IApplications$398.16M · 12.8%
Total Sensor And Effector Applications$365.49M · 11.8%
Modulesand Subassemblies$246.10M · 7.9%
Product And Service Other$192.23M · 6.2%
Components$189.98M · 6.1%
Radar End User Applications$169.74M · 5.5%
Land$166.25M · 5.4%
Other End User Applications$148.37M · 4.8%
Other Sensor And Effector Applications$98.83M · 3.2%
Electronic Warfare End User Applications$96.92M · 3.1%
Naval$86.89M · 2.8%
Space$55.97M · 1.8%
Geographic
$1.10B totalUS$870.13M · 79.2%
Non Us$165.71M · 15.1%
Europe$62.83M · 5.7%
Peer comparison
Same SIC group: Electronic Components & Accessories
Comparing MERCURY SYSTEMS INC against the 5 most active filers in the same SIC group.