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Mercury Systems Inc

MRCY Industrials Aerospace & Defense

Mercury Systems Inc’s revenue for fiscal 2026 (year ended June 2026) was $983.6 million, up 7.85% from fiscal 2025.

Revenue
+6.11%
EPS
−94.8%
Free cash flow
−15.9%
Total debt
−25.4%

Quarter to June 2026, against a year earlier

70.67 9.65 −12.01%
Market cap
$4.9B
P/E
0.0×
Fwd P/E
152×
Dividend yield
—
F-score
6/9
Altman Z
6.14
Beneish M
−2.78
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 118.46
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — 4 1 1 3 — — 14 2 1 —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 4,890.00
Revenue ttm 983.62
Net income ttm (29.67)
Free cash flow ttm 68.09
Net debt Q 227.19
Valuation
P/E 0.00
Forward P/E 152.00 (above 35: high)
Price / sales 4.85
Forward P/S Powerpack
Price / FCF 70.11
Price / book 3.19
Financial health
Current ratio Q 2.96 (at or above 1.5: strong)
Debt / equity Q 0.29 (at or below 0.5: strong)
Interest coverage Q 2.22
Growth
Revenue growth Q +6.11% (above 0%: growing)
Operating income growth Q −38.58% (below 0%: shrinking)
EPS, this year +57.33% (at or above 15%: strong)
EPS, next year A +33.01% (at or above 15%: strong)
Revenue, next year A +10.41% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +34.08% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.1×, against a ten-year median of 4.2×; over the ten years it ranged from 1.9× in 2016 to 7.6× in 2026.
P/S against its own 10 years 69.69%
10-year low 10-year high
P/B against its own 10 years 83.27%
10-year low 10-year high
EV/Sales against its own 10 years 70.90%
10-year low 10-year high
EV/FCF against its own 10 years 70.85%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 72 181 309 214
Receivables 507 415 389 357
Inventory 337 335 333 367
Other — — — —
937 954 1,058 973
2023 2024 2025 2026
Payables 104 81 79 91
ST’ Debt — — — —
Other 105 — 8 0
233 234 300 329

Compound Annual Growth %

10y 5y 3y
Sales 13.79% 1.26% 0.33%
Cash Flow 10.73% 1.04% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 12.21% 0.18% (1.50%)

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 0.37 Actual 0.37

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.08 0.26 Beat by 0.18
Q2 FY26 0.07 0.16 Beat by 0.09
Q3 FY26 0.06 0.27 Beat by 0.21
Q4 FY26 0.37 0.37 Met by 0.00
Q1 FY27 0.28 — Reports 10 November 2026

EPS $

Sep Dec Mar Jun Year
’26 — — — — —
’26 (0.21) (0.26) (0.04) 0.01 (0.50)
’25 (0.30) (0.30) (0.33) 0.27 (0.65)
’24 (0.64) (0.79) (0.77) (0.19) (2.38)
’23 (0.26) (0.19) 0.09 (0.15) (0.50)
’22 (0.13) (0.05) 0.07 0.30 0.20
’21 0.29 0.23 0.28 0.32 1.12
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 225 233 236 290 984
’25 204 223 211 273 912
’24 181 197 208 249 835
’23 228 230 263 253 974
’22 225 220 253 290 988
’21 206 211 257 251 924
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 2 52 6 42 102
’25 (15) 85 30 38 139
’24 (39) 45 (18) 72 60
’23 (66) 35 (3) 13 (21)
’22 (2) 7 (4) (19) (19)
’21 23 24 23 27 97
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 (4) 46 (2) 29 68
’25 (21) 82 24 34 119
’24 (47) 38 (26) 61 26
’23 (73) 22 (13) 4 (60)
’22 (7) (1) (10) (28) (47)
’21 12 10 13 16 52
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 409 493 655 797 924 988 974 835 912 984 +10.3% 1,086 1,211 1,313 +10.1%
Gross margin, % 46.88 45.80 43.71 44.80 41.69 39.97 32.52 23.45 27.90 28.58 (18.3) pt
EBT 31 43 60 94 77 18 (49) (189) (50) (29) n/m
EBT margin, % 7.60 8.63 9.09 11.79 8.35 1.86 (4.98) (22.66) (5.53) (2.94) (10.5) pt
Net income 25 41 47 86 62 11 (28) (138) (38) (30) n/m
Per share, $
Per share, $ Revenue 9.73 10.56 13.69 14.60 16.78 17.80 17.22 14.47 15.52 16.54 +6.1%
Earnings 0.59 0.88 0.98 1.57 1.13 0.20 (0.50) (2.38) (0.65) (0.50) n/m
Cash flow 1.41 0.93 2.04 2.11 1.77 (0.34) (0.38) 1.05 2.36 1.72 +2.3%
Capex (0.78) (0.32) (0.56) (0.79) (0.83) (0.50) (0.69) (0.59) (0.34) (0.58) (3.3%)
Free cash flow 0.63 0.60 1.48 1.32 0.94 (0.84) (1.06) 0.45 2.03 1.15 +6.9%
Book value 17.28 16.52 26.86 25.39 26.95 27.68 27.70 25.51 25.08 25.18 +4.3%
Shares, m 42 47 48 55 55 56 57 58 59 59 +3.9%
Valuation, ×
Valuation, × P/E 72.57 43.30 70.33 50.10 59.18 338.58 0.00 0.00 0.00 0.00 63.4
P/S 4.33 3.65 5.03 5.39 3.95 3.61 2.01 1.96 3.47 7.39 4.1
P/B 2.44 2.33 2.57 3.10 2.46 2.32 1.25 1.11 2.15 4.86 2.5
EV/Sales 4.68 3.93 5.08 5.20 4.05 4.02 2.47 2.46 3.79 7.64 4.3
EV/FCF 72.68 68.72 46.95 57.60 72.53 (85.29) (40.07) 78.87 29.03 110.31 41.1
Cash, $m
Cash, $m Operating cash flow 59 43 98 115 97 (19) (21) 60 139 102 +6.3%
Capex (33) (15) (27) (43) (46) (28) (39) (34) (20) (34) +0.5%
Free cash flow 26 28 71 72 52 (47) (60) 26 119 68 +11.1%
Balance, $m
Balance, $m Working capital 173 260 484 509 492 621 704 719 758 645 +15.7%
Net debt (42) 128 (258) (160) 86 386 440 411 282 227 n/m
Shareholders’ equity 725 772 1,285 1,385 1,484 1,537 1,567 1,473 1,473 1,497 +8.4%
Returns, %
Returns, % ROA 3.21 4.35 3.77 5.66 3.48 0.53 (1.21) (5.77) (1.57) (1.25) (4.5) pt
ROIC 3.42 3.26 4.66 4.65 3.22 1.03 (0.68) (4.90) (0.70) 0.01 (3.4) pt
ROE 4.15 5.46 4.55 6.42 4.33 0.75 (1.83) (9.06) (2.57) (2.00) (6.1) pt
People
People Employees 1,159 1,320 1,661 1,947 2,384 2,386 2,596 2,364 2,162 2,102 +6.8%
Revenue/emp, $m 0.35 0.37 0.39 0.41 0.39 0.41 0.38 0.35 0.42 0.47 +3.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2026

Mercury Systems Inc vs peers in Aerospace & Defense (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BETA BETA Technologies, Inc. $5.5B — (loss-making) — (loss-making) +98.16% (above 0%: growing) n/m −71.45% (below 0%: shrinking) 72.09% (723.20%) Compare
KRMN Karman Holdings Inc. $5.2B 136× 80.9× +58.18% (above 0%: growing) +120.00% (above 0%: growing) +17.67% (above 0%: growing) 42.97% 19.13% Compare
PL Planet Labs PBC $4.9B — (loss-making) — (loss-making) +58.14% (above 0%: growing) n/m −48.55% (below 0%: shrinking) 56.55% (11.64%) Compare
MRCY Mercury Systems Inc $4.9B — (loss-making) 152× +6.11% (above 0%: growing) −94.79% (below 0%: shrinking) −15.93% (below 0%: shrinking) 30.57% 4.99%
DPC DPC Holdings PLC $4.7B — — — n/m — 25.83% (44.73%) Compare
VSEC VSE Corporation $4.6B 58.8× 36.8× +65.04% (above 0%: growing) +513.33% (above 0%: growing) +217.04% (above 0%: growing) 17.02% 10.90% Compare
MDA MDA Space Ltd. $4.4B 46.5× 49.5× +33.44% (above 0%: growing) −12.34% (below 0%: shrinking) −1,555.78% (below 0%: shrinking) 25.25% 6.14% Compare
AIR AAR Corp. $4.4B 22.2× 19.7× +24.12% (above 0%: growing) +5.21% (above 0%: growing) +182.09% (above 0%: growing) 19.20% 7.85% Compare
MOG.B Moog Inc. $3.7B 29.4× — +15.16% (above 0%: growing) +153.97% (above 0%: growing) +67.52% (above 0%: growing) 31.10% 14.41% Compare
Median of peers $4.7B 46.5× 43.2× +58.14% +120.00% +17.67% 28.46% 7.00%

All 94 Aerospace & Defense stocks →

Mercury Systems Inc (MRCY) Latest News

28 Oct

Impact 4 · · Insider Monkey

13 Oct

Impact 3 · · Zacks

8 Oct

Impact 4 · · GlobeNewswire

7 Oct

Impact 3 · · Simply Wall St.

6 Oct

Impact 4 · · GlobeNewswire

2 Oct

Impact 3 · · Zacks

29 Sep

Impact 3 · · StockStory

25 Sep

Impact 3 · · Insider Monkey
Impact 3 ·

18 Sep

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27 Aug

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25 Aug

Impact 3 · · The Motley Fool transcript
Impact 3 ·

21 Aug

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20 Aug

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19 Aug

Impact 4 ·
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Impact 3 · · The Motley Fool
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18 Aug

Impact 4 ·
Impact 3 · · Moby transcript
Impact 3 · · MarketBeat
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12 Aug

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11 Aug

Impact 3 ·

MRCY metrics, ten years each

stockrow.com/MRCY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com