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May 5, 2026·SEC
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Nov 4, 2025·SEC
Mercury Systems, Inc.(MRCY)Earnings, Financials & Key Ratios
MRCY•NASDAQ
$123.07
Price updated Jul 6, 2026
AboutMercury Systems, Inc., a technology company, manufactures and sells components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers. The company offers components, including power amplifiers and limiters, switches, oscillators, filters, equalizers, digital and analog converters, chips, monolithic microwave integrated circuits, and memory and storage devices; modules and sub-assemblies, such as embedded processing modules and boards, switched fabric boards, digital receiver boards, multi-chip modules, integrated radio frequency and microwave multi-function assemblies, tuners, and transceivers, as well as graphics and video processing, and Ethernet and input-output boards; and integrated subsystems. It also designs and develops digital radio frequency memory units for various modern electronic warfare applications; radar environment simulation and test systems for defense and intelligence applications; and signals intelligence payloads and EO/IR technologies for small UAV platforms, as well as onboard UAV processor systems for real-time wide area motion imagery. The company was formerly known as Mercury Computer Systems, Inc. and changed its name to Mercury Systems, Inc. in November 2012. Mercury Systems, Inc. was incorporated in 1981 and is headquartered in Andover, Massachusetts.Show more
- Revenue$912M+9.2%
- EBITDA$62M+204.5%
- Net Income-$38M+72.5%
- EPS (Diluted)-0.65+72.7%
- Gross Margin27.9%+19.0%
- EBITDA Margin6.84%+195.7%
- Operating Margin-2.15%+87.8%
- Net Margin-4.16%+74.8%
- ROE-2.57%+71.6%
MRCY Price & Volume
Mercury Systems, Inc. (MRCY) stock price & volume — 10-year historical chart
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Persistent Margin Compression Challenges Mercury Systems Growth
Investment Thesis • Updated 2026Q3
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Adequate
Cash Flow:Mixed
Primary Risk:Operational execution and margin compression
Key Thesis Takeaways
- Mercury Systems faces a challenging path to profitability as it struggles to convert double-digit revenue growth into sustainable operating margins, which remained at a thin 2.2% in 2026Q3.
- While the company maintains a sufficient liquidity buffer with $331.8 million in cash, the significant $942.6 million goodwill concentration and eroding retained earnings suggest underlying structural risks.
- Investors should monitor whether the firm can improve its operational leverage and stabilize its volatile project-based cash flow before committing capital to this turnaround effort.
Verdict Logic
the company's inability to generate consistent profitability, evidenced by a -1.2% net margin in 2026Q3 and a forward P/E of 101.70, suggests that the current valuation does not adequately reflect the operational execution risks.
MRCY Growth Metrics
Mercury Systems, Inc. (MRCY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years14.53%
5 Years2.74%
3 Years-2.16%
TTM8.95%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM78.32%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM25%
Return on Capital
10 Years2.35%
5 Years-1%
3 Years-2.93%
Last Year-0.92%
MRCY Recent Earnings
Mercury Systems, Inc. (MRCY) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.27+350.0%
$0.06
Rev
$236M+13.0%
$209M
Q1 2026
Feb 3, 2026Metric
Actual
Est
EPS
$0.16+128.6%
$0.07
Rev
$233M+10.6%
$211M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.26+225.0%
$0.08
Rev
$225M-0.2%
$226M
Q3 2025
Aug 11, 2025Metric
Actual
Est
EPS
$0.47+123.8%
$0.21
Rev
$211M-1.6%
$215M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.27vs $0.06+350.0% | $236Mvs $209M+13.0% |
| Q1 2026 | Feb 3, 2026 | $0.16vs $0.07+128.6% | $233Mvs $211M+10.6% |
| Q4 2025 | Nov 4, 2025 | $0.26vs $0.08+225.0% | $225Mvs $226M-0.2% |
| Q3 2025 | Aug 11, 2025 | $0.47vs $0.21+123.8% | $211Mvs $215M-1.6% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Mercury Systems, Inc. (MRCY)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $123.07 | $7.39B | -189.34 | 9.19% | -4.16% | -2.57% | — | |
| $53.54 | $10.04B | 411.85 | 18.52% | 2.08% | 1.26% | — | |
| $792.77 | $29.26B | 61.60 | 12.08% | 14.17% | 19.64% | — | |
| $45.37 | $12.1B | 44.05 | 12.8% | 7.85% | 10.79% | — | |
| $16.82 | $3.65B | 24.74 | 6.71% | 13.98% | 10.32% | — | |
| $294.10 | $11.58B | 19.11 | 8.23% | 4.71% | 12.05% | — |
Compare MRCY vs Peers
Mercury Systems, Inc. (MRCY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MRCY SEC Filings & Documents
Mercury Systems, Inc. (MRCY) SEC filings — annual & quarterly reports (10-K, 10-Q)
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MRCY Frequently Asked Questions
Mercury Systems, Inc. (MRCY) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Mercury Systems, Inc.'s revenue?
Mercury Systems, Inc. (MRCY) reported $966.9M in revenue for fiscal year 2025. This represents a 1031% increase from $85.5M in 1998.
How fast is Mercury Systems, Inc. growing?
Mercury Systems, Inc. (MRCY) grew revenue by 9.2% over the past year. This is steady growth.
Is MRCY profitable?
Mercury Systems, Inc. (MRCY) reported a net loss of $14.1M for fiscal year 2025.
Dividend & Returns
What is MRCY's return on equity?
Mercury Systems, Inc. (MRCY) has a return on equity (ROE) of -2.6%. Negative ROE indicates the company is unprofitable.
What is Mercury Systems, Inc.'s free cash flow?
Mercury Systems, Inc. (MRCY) generated $73.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.