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. In the quarter to June 2026, revenue grew 6.11%, EPS fell 94.8%, free cash flow fell 15.9% and total debt fell 25.4%, each against the same quarter a year earlier.
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Mercury Systems Inc (MRCY) Piotroski F-score
Mercury Systems Inc's Piotroski F-score for fiscal 2026 is 6 out of 9: 6 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 6 | 0.00 |
| FY2025 | 6 | 3.00 |
| FY2024 | 3 | 2.00 |
| FY2023 | 1 | 0.00 |
| FY2022 | 1 | (2.00) |
| FY2021 | 3 | (2.00) |
| FY2020 | 5 | (1.00) |
| FY2019 | 6 | 1.00 |
| FY2018 | 5 | 0.00 |
| FY2017 | 5 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (1.25%) | (1.57%) | Fail | 0 |
| Positive operating cash flow | 102.39m | 138.85m | Pass | 1 |
| Rising return on assets | (1.25%) | (1.57%) | Pass | 1 |
| Cash flow above net income | 132.06m | 176.76m | Pass | 1 |
| Falling long-term leverage | 0.19 | 0.25 | Pass | 1 |
| Rising current ratio | 2.96 | 3.52 | Fail | 0 |
| No new shares issued | 59,460,000 | 58,746,000 | Fail | 0 |
| Rising gross margin | 28.58% | 27.90% | Pass | 1 |
| Rising asset turnover | 0.41 | 0.38 | Pass | 1 |
| Piotroski F-score | Mixed | 6 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| VSEC VSE Corporation compare | 7 |
| KRMN Karman Holdings Inc. compare | 6 |
| AIR AAR Corp. compare | 6 |
| MRCY Mercury Systems Inc | 6 |
| MOG.B Moog Inc. compare | 6 |
| LOAR Loar Holdings Inc. compare | 5 |
| BETA BETA Technologies, Inc. compare | 5 |
| PL Planet Labs PBC compare | 2 |
| ACHR Archer Aviation Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover