Symbols / MRCY $82.61 -0.90% Mercury Systems, Inc.

Industrials • Aerospace & Defense • United States • NMS
MRCY Chart
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About

Mercury Systems, Inc., a technology company, manufactures and sells components, products, modules, and subsystems for defense prime contractors, original equipment manufacturers, government, and commercial aerospace companies. 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 boards, switched fabrics and boards, digital receivers, multi-chip modules, integrated radio frequency and microwave multi-function assemblies, tuners, and transceivers, as well as graphics and video; and integrated subsystems. It also designs, develops, and manufactures 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. It operates in the United States, Europe, and the Asia Pacific. 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.

Fundamentals
Scroll to Statements
Market Cap 4.96B Enterprise Value 5.30B Income -30.41M Sales 942.55M Book/sh 24.59 Cash/sh 5.58
Dividend Yield — Payout 0.00% Employees 2135 IPO — P/E — Forward P/E 55.06
PEG 2.79 P/S 5.26 P/B 3.36 P/C — EV/EBITDA 69.01 EV/Sales 5.62
Quick Ratio 1.87 Current Ratio 2.96 Debt/Eq 46.52 LT Debt/Eq — EPS (ttm) -0.52 EPS next Y 1.50
EPS Growth — Revenue Growth 4.40% Earnings 2026-05-05 ROA -0.01% ROE -2.08% ROIC —
Gross Margin 28.16% Oper. Margin -2.83% Profit Margin -3.23% Shs Outstand 60.01M Shs Float 55.45M Short Float 8.60%
Short Ratio 6.83 Short Interest — 52W High 103.84 52W Low 44.01 Beta 0.84 Avg Volume 607.25K
Volume 368.02K Target Price $96.88 Recom Buy Prev Close $83.36 Price $82.61 Change -0.90%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$96.88
Mean price target
2. Current target
$82.61
Latest analyst target
3. DCF / Fair value
$33.52
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$82.61
Low
$60.00
High
$120.00
Mean
$96.88

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-07 main Jefferies Hold → Hold $80
2026-02-04 main Truist Securities Buy → Buy $109
2026-01-20 main Goldman Sachs Sell → Sell $55
2025-10-15 main Truist Securities Buy → Buy $100
2025-10-01 up RBC Capital Sector Perform → Outperform $90
2025-08-13 main Goldman Sachs Sell → Sell $39
2025-08-12 main JP Morgan Neutral → Neutral $68
2025-08-12 main Truist Securities Buy → Buy $71
2025-08-12 main Baird Outperform → Outperform $70
2025-08-12 up Raymond James Outperform → Strong Buy $80
2025-07-03 main RBC Capital Sector Perform → Sector Perform $55
2025-06-16 main JP Morgan Neutral → Neutral $56
2025-06-02 main Truist Securities Buy → Buy $60
2025-05-12 main Goldman Sachs Sell → Sell $33
2025-05-07 main RBC Capital Sector Perform → Sector Perform $50
2025-03-13 up Truist Securities Hold → Buy $56
2025-02-05 up Baird Neutral → Outperform $58
2025-01-16 main Goldman Sachs Sell → Sell $28
2025-01-14 main Truist Securities Hold → Hold $44
2024-11-11 up Jefferies Underperform → Hold $42
News
RSS: Latest MRCY news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-16 NEARHOS BARRY R Director — 245 $0.00 $0
2026-04-16 FARNSWORTH DAVID E. Chief Financial Officer — 3,625 $84.87 $307,661
2026-03-16 RATNER STEVEN Officer — 437 $0.00 $0
2026-03-04 JANA PARTNERS MANAGEMENT, L.P. Unknown — 452,057 $89.68 $41,412,246
2026-02-25 LANCE HOWARD L Director — 4,832 $88.98 $429,960
2026-02-17 KUPINSKY STUART H Officer — 2,287 $83.56 $191,091
2026-02-17 MUNRO DOUGLAS Officer — 582 $83.56 $48,629
2026-02-09 JANA PARTNERS MANAGEMENT, L.P. Unknown — 400,000 $81.00 $32,400,000
2026-01-15 NEARHOS BARRY R Director — 474 $0.00 $0
2025-11-12 MUNRO DOUGLAS Officer — 1,329 $73.42 $97,570
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Total Revenue
912.02
+9.19%
835.27
-14.23%
973.88
-1.45%
988.20
Operating Revenue
912.02
+9.19%
835.27
-14.23%
973.88
-1.45%
988.20
Cost Of Revenue
657.53
+2.84%
639.37
-2.71%
657.15
+10.77%
593.24
Reconciled Cost Of Revenue
618.35
+3.23%
599.00
-2.34%
613.38
+9.51%
560.09
Gross Profit
254.49
+29.91%
195.90
-38.15%
316.73
-19.81%
394.96
Operating Expense
264.91
-16.11%
315.77
-2.23%
322.99
-0.46%
324.48
Research And Development
67.65
-33.24%
101.33
-6.87%
108.80
+1.52%
107.17
Selling General And Administration
154.41
-7.42%
166.79
+3.83%
160.64
+2.29%
157.04
General And Administrative Expense
—
—
160.64
+2.29%
157.04
Salaries And Wages
—
—
18.34
-39.12%
30.12
Other Gand A
—
—
142.30
+12.11%
126.93
Total Expenses
922.43
-3.43%
955.15
-2.55%
980.14
+6.80%
917.72
Operating Income
-10.41
+91.31%
-119.87
-1814.92%
-6.26
-108.88%
70.48
Total Operating Income As Reported
-19.63
+86.72%
-147.75
-581.36%
-21.68
-168.60%
31.61
EBITDA
65.03
+198.19%
-66.23
-189.57%
73.95
-37.13%
117.62
Normalized EBITDA
74.25
+293.60%
-38.35
-142.91%
89.37
-42.89%
156.48
Reconciled Depreciation
82.03
-6.82%
88.03
-9.55%
97.33
+4.19%
93.42
EBIT
-16.99
+88.98%
-154.26
-559.71%
-23.38
-196.62%
24.20
Total Unusual Items
-9.21
+66.95%
-27.88
-80.75%
-15.43
+60.31%
-38.87
Total Unusual Items Excluding Goodwill
-9.21
+66.95%
-27.88
-80.75%
-15.43
+60.31%
-38.87
Special Income Charges
-9.21
+66.95%
-27.88
-80.75%
-15.43
+60.31%
-38.87
Restructuring And Mergern Acquisition
9.21
-66.95%
27.88
+80.75%
15.43
-60.31%
38.87
Net Income
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Pretax Income
-50.42
+73.36%
-189.28
-289.92%
-48.54
-363.89%
18.39
Net Non Operating Interest Income Expense
-29.82
+11.81%
-33.82
-40.28%
-24.11
-325.68%
-5.66
Interest Expense Non Operating
33.43
-4.53%
35.02
+39.17%
25.16
+333.33%
5.81
Net Interest Income
-29.82
+11.81%
-33.82
-40.28%
-24.11
-325.68%
-5.66
Interest Expense
33.43
-4.53%
35.02
+39.17%
25.16
+333.33%
5.81
Interest Income Non Operating
3.61
+200.83%
1.20
+13.87%
1.05
+636.36%
0.14
Interest Income
3.61
+200.83%
1.20
+13.87%
1.05
+636.36%
0.14
Other Income Expense
-10.19
+71.37%
-35.59
-95.78%
-18.18
+60.84%
-46.42
Other Non Operating Income Expenses
-0.97
+87.36%
-7.71
-180.08%
-2.75
+63.57%
-7.55
Tax Provision
-12.52
+75.75%
-51.63
-155.53%
-20.21
-383.81%
7.12
Tax Rate For Calcs
0.00
-9.05%
0.00
+30.00%
0.00
-45.74%
0.00
Tax Effect Of Unusual Items
-2.28
+69.98%
-7.61
-134.97%
-3.24
+78.46%
-15.04
Net Income Including Noncontrolling Interests
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Net Income From Continuing Operation Net Minority Interest
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Net Income From Continuing And Discontinued Operation
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Net Income Continuous Operations
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Normalized Income
-30.98
+73.61%
-117.37
-626.79%
-16.15
-146.01%
35.10
Net Income Common Stockholders
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Diluted EPS
-0.65
+72.69%
-2.38
-376.00%
-0.50
-350.00%
0.20
Basic EPS
-0.65
+72.69%
-2.38
-376.00%
-0.50
-350.00%
0.20
Basic Average Shares
58.75
+1.75%
57.74
+2.09%
56.55
+1.85%
55.53
Diluted Average Shares
58.75
+1.75%
57.74
+2.09%
56.55
+1.17%
55.90
Diluted NI Availto Com Stockholders
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Amortization
42.85
-10.10%
47.66
-11.00%
53.55
-11.14%
60.27
Amortization Of Intangibles Income Statement
42.85
-10.10%
47.66
-11.00%
53.55
-11.14%
60.27
Depreciation Amortization Depletion Income Statement
42.85
-10.10%
47.66
-11.00%
53.55
-11.14%
60.27
Depreciation And Amortization In Income Statement
42.85
-10.10%
47.66
-11.00%
53.55
-11.14%
60.27
Line Item Trend 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Total Assets
2,434.76
+2.35%
2,378.91
-0.52%
2,391.37
+3.77%
2,304.41
Current Assets
1,058.18
+10.95%
953.78
+1.79%
937.02
+14.94%
815.25
Cash Cash Equivalents And Short Term Investments
309.10
+71.23%
180.52
+152.25%
71.56
+9.00%
65.65
Cash And Cash Equivalents
309.10
+71.23%
180.52
+152.25%
71.56
+9.00%
65.65
Receivables
388.06
-6.60%
415.47
-18.10%
507.29
+13.27%
447.85
Accounts Receivable
109.59
-1.66%
111.44
-10.65%
124.73
-13.68%
144.49
Gross Accounts Receivable
111.36
-1.86%
113.46
-10.00%
126.06
-13.99%
146.57
Allowance For Doubtful Accounts Receivable
-1.77
+12.52%
-2.02
-51.31%
-1.33
+35.63%
-2.07
Other Receivables
278.48
-8.41%
304.03
-20.53%
382.56
+26.11%
303.36
Inventory
332.92
-0.71%
335.30
-0.57%
337.22
+24.74%
270.34
Raw Materials
195.50
-2.50%
200.50
-12.82%
229.98
+28.91%
178.41
Work In Process
118.38
+0.27%
118.06
+44.10%
81.93
+27.44%
64.29
Finished Goods
19.05
+13.79%
16.74
-33.84%
25.30
-8.47%
27.64
Prepaid Assets
0.46
0.00
0.00
-100.00%
7.50
Other Current Assets
27.64
+22.88%
22.49
+7.35%
20.95
-12.36%
23.91
Total Non Current Assets
1,376.59
-3.41%
1,425.12
-2.01%
1,454.35
-2.34%
1,489.16
Net PPE
153.70
-10.23%
171.21
-6.22%
182.57
-5.68%
193.56
Gross PPE
467.47
+5.21%
444.33
+6.85%
415.85
+8.45%
383.44
Accumulated Depreciation
-313.77
-14.88%
-273.12
-17.08%
-233.28
-22.85%
-189.89
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
340.93
+9.61%
311.05
+10.09%
282.53
+12.58%
250.96
Other Properties
52.26
-14.12%
60.86
-3.42%
63.02
-5.05%
66.37
Leases
74.28
+2.57%
72.42
+3.01%
70.31
+6.33%
66.12
Goodwill And Other Intangible Assets
1,148.70
-3.36%
1,188.61
-3.85%
1,236.14
-4.13%
1,289.42
Goodwill
938.09
+0.00%
938.09
+0.00%
938.09
+0.02%
937.88
Other Intangible Assets
210.61
-15.93%
250.51
-15.95%
298.05
-15.22%
351.54
Non Current Deferred Assets
69.02
+17.75%
58.61
+116.29%
27.10
0.00
Non Current Deferred Taxes Assets
69.02
+17.75%
58.61
+116.29%
27.10
0.00
Total Liabilities Net Minority Interest
961.30
+6.09%
906.13
+9.88%
824.68
+7.49%
767.23
Current Liabilities
300.38
+28.14%
234.42
+0.49%
233.26
+20.28%
193.93
Payables And Accrued Expenses
122.26
-1.49%
124.10
-15.16%
146.28
+9.47%
133.63
Payables
79.12
-2.54%
81.18
-31.12%
117.86
+19.45%
98.67
Accounts Payable
79.12
-2.41%
81.07
-22.04%
103.99
+5.38%
98.67
Current Accrued Expenses
43.14
+0.51%
42.93
+51.03%
28.42
-18.68%
34.95
Pensionand Other Post Retirement Benefit Plans Current
51.32
+41.00%
36.40
+19.66%
30.42
-32.12%
44.81
Total Tax Payable
0.00
-100.00%
0.11
-99.21%
13.87
0.00
Income Tax Payable
0.00
-100.00%
0.11
-99.21%
13.87
0.00
Current Deferred Liabilities
126.80
+71.54%
73.92
+30.68%
56.56
+265.22%
15.49
Current Deferred Revenue
126.80
+71.54%
73.92
+30.68%
56.56
+265.22%
15.49
Total Non Current Liabilities Net Minority Interest
660.93
-1.61%
671.71
+13.58%
591.42
+3.16%
573.30
Long Term Debt And Capital Lease Obligation
644.24
-1.51%
654.08
+13.11%
578.30
+10.91%
521.39
Long Term Debt
591.50
+0.00%
591.50
+15.64%
511.50
+13.29%
451.50
Long Term Capital Lease Obligation
52.74
-15.73%
62.58
-6.31%
66.80
-4.42%
69.89
Tradeand Other Payables Non Current
4.05
-47.54%
7.71
+49.30%
5.17
-43.31%
9.11
Non Current Deferred Liabilities
—
—
0.00
-100.00%
32.40
Non Current Deferred Taxes Liabilities
—
—
0.00
-100.00%
32.40
Other Non Current Liabilities
12.64
+27.48%
9.92
+24.66%
7.96
-23.55%
10.40
Stockholders Equity
1,473.46
+0.05%
1,472.78
-5.99%
1,566.68
+1.92%
1,537.18
Common Stock Equity
1,473.46
+0.05%
1,472.78
-5.99%
1,566.68
+1.92%
1,537.18
Capital Stock
0.59
+1.55%
0.58
+1.93%
0.57
+2.33%
0.56
Common Stock
0.59
+1.55%
0.58
+1.93%
0.57
+2.33%
0.56
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
59.75
+2.86%
58.09
+1.99%
56.96
+2.30%
55.68
Ordinary Shares Number
59.75
+2.86%
58.09
+1.99%
56.96
+2.30%
55.68
Additional Paid In Capital
1,287.48
+3.63%
1,242.40
+3.81%
1,196.85
+4.50%
1,145.32
Retained Earnings
181.90
-17.24%
219.80
-38.51%
357.44
-7.34%
385.77
Gains Losses Not Affecting Retained Earnings
3.50
-65.00%
9.99
-15.52%
11.83
+113.87%
5.53
Other Equity Adjustments
3.50
-65.00%
9.99
-15.52%
11.83
+113.87%
5.53
Total Equity Gross Minority Interest
1,473.46
+0.05%
1,472.78
-5.99%
1,566.68
+1.92%
1,537.18
Total Capitalization
2,064.96
+0.03%
2,064.28
-0.67%
2,078.18
+4.50%
1,988.68
Working Capital
757.80
+5.34%
719.37
+2.22%
703.75
+13.27%
621.33
Invested Capital
2,064.96
+0.03%
2,064.28
-0.67%
2,078.18
+4.50%
1,988.68
Total Debt
644.24
-1.51%
654.08
+13.11%
578.30
+10.91%
521.39
Net Debt
282.40
-31.29%
410.98
-6.58%
439.94
+14.02%
385.85
Capital Lease Obligations
52.74
-15.73%
62.58
-6.31%
66.80
-4.42%
69.89
Net Tangible Assets
324.76
+14.28%
284.17
-14.03%
330.54
+33.41%
247.77
Tangible Book Value
324.76
+14.28%
284.17
-14.03%
330.54
+33.41%
247.77
Line Item Trend 2025-06-30 2024-06-30 2023-06-30 2022-06-30
Operating Cash Flow
138.85
+129.95%
60.38
+384.10%
-21.25
-12.64%
-18.87
Cash Flow From Continuing Operating Activities
138.85
+129.95%
60.38
+384.10%
-21.25
-12.64%
-18.87
Net Income From Continuing Operations
-37.90
+72.46%
-137.64
-385.76%
-28.34
-351.31%
11.28
Depreciation Amortization Depletion
82.03
-6.82%
88.03
-9.55%
97.33
+4.19%
93.42
Depreciation
39.18
-2.95%
40.37
-7.78%
43.78
—
Amortization Cash Flow
42.85
-10.10%
47.66
-11.00%
53.55
—
Depreciation And Amortization
82.03
-6.82%
88.03
-9.55%
97.33
+4.19%
93.42
Amortization Of Intangibles
42.85
-10.10%
47.66
-11.00%
53.55
—
Other Non Cash Items
-3.58
-891.37%
0.45
+139.44%
-1.15
-90.05%
-0.60
Stock Based Compensation
39.92
-3.86%
41.52
-4.37%
43.42
+13.38%
38.29
Provisionand Write Offof Assets
0.88
-94.27%
15.30
+3725.25%
0.40
+277.36%
0.11
Deferred Tax
-10.59
+66.39%
-31.51
+47.17%
-59.65
-2365.77%
-2.42
Deferred Income Tax
-10.59
+66.39%
-31.51
+47.17%
-59.65
-2365.77%
-2.42
Operating Gains Losses
—
7.40
+23.49%
6.00
—
Gain Loss On Investment Securities
—
7.40
+23.49%
6.00
—
Change In Working Capital
68.10
-11.36%
76.83
+196.92%
-79.27
+50.13%
-158.94
Change In Receivables
29.95
-60.83%
76.46
+230.21%
-58.72
+59.91%
-146.48
Change In Inventory
-17.09
-13243.85%
0.13
+100.20%
-64.06
-56.62%
-40.90
Change In Prepaid Assets
4.96
+393.15%
-1.69
-116.32%
10.38
+210.69%
-9.37
Change In Payables And Accrued Expense
4.29
+140.95%
-10.48
-53.49%
-6.83
-111.49%
59.40
Change In Payable
4.29
+140.95%
-10.48
-53.49%
-6.83
-111.49%
59.40
Change In Account Payable
8.10
+993.52%
0.74
+104.43%
-16.73
-128.65%
58.40
Change In Other Working Capital
49.89
+188.26%
17.31
-57.48%
40.70
+314.24%
-19.00
Change In Other Current Assets
8.22
+5452.03%
0.15
-96.07%
3.77
-38.38%
6.12
Change In Other Current Liabilities
-12.12
-140.09%
-5.05
-11.98%
-4.51
+48.23%
-8.71
Investing Cash Flow
-13.50
+60.63%
-34.29
+11.07%
-38.56
+85.94%
-274.32
Cash Flow From Continuing Investing Activities
-13.50
+60.63%
-34.29
+11.07%
-38.56
+85.94%
-274.32
Net PPE Purchase And Sale
-13.56
+60.46%
-34.29
+11.61%
-38.80
-40.28%
-27.66
Purchase Of PPE
-19.80
+42.25%
-34.29
+11.61%
-38.80
-40.28%
-27.66
Sale Of PPE
6.25
0.00
0.00
—
Capital Expenditure
-19.80
+42.25%
-34.29
+11.61%
-38.80
-40.28%
-27.66
Net Investment Purchase And Sale
—
—
—
0.00
Sale Of Investment
—
—
—
0.00
Net Business Purchase And Sale
-4.54
0.00
0.00
+100.00%
-243.46
Purchase Of Business
-4.54
0.00
0.00
+100.00%
-243.46
Net Other Investing Changes
4.60
—
0.23
+107.34%
-3.20
Financing Cash Flow
1.41
-98.29%
82.68
+26.37%
65.43
-73.38%
245.75
Cash Flow From Continuing Financing Activities
1.41
-98.29%
82.68
+26.37%
65.43
-73.38%
245.75
Net Issuance Payments Of Debt
0.00
-100.00%
80.00
+33.33%
60.00
-76.14%
251.50
Issuance Of Debt
0.00
-100.00%
105.00
-25.00%
140.00
-44.33%
251.50
Repayment Of Debt
0.00
+100.00%
-25.00
+68.75%
-80.00
0.00
Short Term Debt Issuance
0.00
-100.00%
105.00
-25.00%
140.00
-44.33%
251.50
Short Term Debt Payments
0.00
+100.00%
-25.00
+68.75%
-80.00
0.00
Net Short Term Debt Issuance
0.00
-100.00%
80.00
+33.33%
60.00
-76.14%
251.50
Net Common Stock Issuance
0.00
+100.00%
-0.03
+50.79%
-0.06
+99.23%
-8.21
Common Stock Payments
0.00
+100.00%
-0.03
+50.79%
-0.06
+99.23%
-8.21
Repurchase Of Capital Stock
0.00
+100.00%
-0.03
+50.79%
-0.06
+99.23%
-8.21
Proceeds From Stock Option Exercised
3.66
-21.13%
4.64
-15.48%
5.49
+2.25%
5.37
Net Other Financing Charges
-2.25
-16.47%
-1.93
—
-2.91
Changes In Cash
126.76
+16.54%
108.77
+1837.50%
5.61
+111.84%
-47.44
Effect Of Exchange Rate Changes
1.81
+870.59%
0.19
-36.61%
0.29
+139.33%
-0.75
Beginning Cash Position
180.52
+152.25%
71.56
+9.00%
65.65
-42.33%
113.84
End Cash Position
309.10
+71.23%
180.52
+152.25%
71.56
+9.00%
65.65
Free Cash Flow
119.05
+356.28%
26.09
+143.45%
-60.05
-29.07%
-46.52
Interest Paid Supplemental Data
36.56
-2.31%
37.42
+37.14%
27.29
+396.87%
5.49
Income Tax Paid Supplemental Data
0.36
—
24.24
+71.68%
14.12
Change In Income Tax Payable
-3.81
+66.01%
-11.22
-213.22%
9.91
+881.86%
1.01
Change In Tax Payable
-3.81
+66.01%
-11.22
-213.22%
9.91
+881.86%
1.01
Common Stock Issuance
—
—
—
—
Issuance Of Capital Stock
—
—
—
—
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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