MRCY

Updated: Jun 18, 2026 10:11 AM

Mercury Systems Inc

Market Cap: $6.93B P/S: 29x Ownership — Insider: 1.7% | Institutional: 113.2% | Retail: -14.8% INDUSTRIALS AEROSPACE & DEFENSE

Mercury Systems, Inc., a technology company, manufactures and sells components, modules, and subsystems in the United States, Europe, and Asia Pacific. The company is headquartered in Andover, Massachusetts.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        20/20 dates (100%)
  ✅ grossProfit                         20/20 dates (100%)
  ✅ netIncome                           20/20 dates (100%)

Plot for MRCY (in M)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -973.88M            -486.94M              0.00M              486.94M              973.88M
               |                   |                   |                   |                    |

  2006-06-30 |                                        |  236.12M
  2007-06-30 |                                       |  223.71M
  2008-06-30 |                                        |  209.90M
  2009-06-30 |                                        |  188.94M
  2010-06-30 |                                         |  199.83M
  2011-06-30 |                                         |  228.71M
  2012-06-30 |                                         |  244.93M
  2013-06-30 |                                        |  208.79M
  2014-06-30 |                                        |  208.73M
  2015-06-30 |                                         |  234.85M
  2016-06-30 |                                         |  270.15M
  2017-06-30 |                                         |  408.59M
  2018-06-30 |                                         |  493.18M
  2019-06-30 |                                         |  654.74M
  2020-06-30 |                                         |  796.61M
  2021-06-30 |                                         |  924.00M
  2022-06-30 |                                        |  973.88M
  2023-06-30 |                                        |  973.88M
  2024-06-30 |                                   |  835.27M
  2025-06-30 |                                       |  912.02M

               |                   |                   |                   |                    |
               -973.88M            -486.94M              0.00M              486.94M              973.88M

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              20/20 dates (100%)
  ✅ sellingGeneralAndAdministrative     20/20 dates (100%)
  ✅ costofGoodsAndServicesSold          20/20 dates (100%)

Plot for MRCY (in M)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M              164.38M             328.76M             493.14M              657.53M
               |                   |                   |                   |                    |

  2006-06-30 |  96.92M
  2007-06-30 |  99.29M
  2008-06-30 |  83.83M
  2009-06-30 |  83.51M
  2010-06-30 |  87.30M
  2011-06-30 |  98.81M
  2012-06-30 |  108.77M
  2013-06-30 |  126.12M
  2014-06-30 |  113.98M
  2015-06-30 |  124.63M
  2016-06-30 |  145.38M
  2017-06-30 |  217.04M
  2018-06-30 |  267.33M
  2019-06-30 |  368.59M
  2020-06-30 |  439.77M
  2021-06-30 |  538.81M
  2022-06-30 |  657.15M
  2023-06-30 |  657.15M
  2024-06-30 |  639.37M
  2025-06-30 |  657.53M

               |                   |                   |                   |                    |
               0.00M              164.38M             328.76M             493.14M              657.53M

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         20/20 dates (100%)
  ⚠️  shortLongTermDebtTotal              13/20 dates (65%)
  ✅ operatingCashflow                   20/20 dates (100%)

Plot for MRCY (in M)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -654.08M            -327.04M              0.00M              327.04M              654.08M
               |                   |                   |                   |                    |

  2006-06-30 |                                         |  135.69M
  2007-06-30 |                                        |  125.22M
  2008-06-30 |                                         |  125.32M
  2009-06-30 |                                         |  46.95M
  2010-06-30 |                                         |  56.24M
  2011-06-30 |                                         |  162.88M ⊗
  2012-06-30 |                                         |  115.96M ⊗
  2013-06-30 |                                        |  39.13M ⊗
  2014-06-30 |                                         |  47.29M ⊗
  2015-06-30 |                                         |  77.59M ⊗
  2016-06-30 |                                         |  192.28M
  2017-06-30 |                                         |  59.15M ⊗
  2018-06-30 |                                         |  195.00M
  2019-06-30 |                                         |  257.93M ⊗
  2020-06-30 |                                         |  226.84M
  2021-06-30 |                                        |  281.53M
  2022-06-30 |                                        |  521.39M
  2023-06-30 |                                         |  578.30M
  2024-06-30 |                                         |  654.08M
  2025-06-30 |                                         |  644.24M

               |                   |                   |                   |                    |
               -654.08M            -327.04M              0.00M              327.04M              654.08M

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   20/20 dates (100%)
  ✅ capitalExpenditures                 20/20 dates (100%)

Plot for MRCY (in M)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -138.85M             -69.43M              0.00M              69.43M               138.85M
               |                   |                   |                   |                    |

  2006-06-30 |                                         |  22.05M
  2007-06-30 |                                      |  -10.31M
  2008-06-30 |                                         |  13.73M
  2009-06-30 |                                         |  11.20M
  2010-06-30 |                                         |  15.71M
  2011-06-30 |                                         |  31.47M
  2012-06-30 |                                         |  31.87M
  2013-06-30 |                                        |  3.88M
  2014-06-30 |                                         |  14.24M
  2015-06-30 |                                         |  32.21M
  2016-06-30 |                                         |  36.94M
  2017-06-30 |                                         |  59.15M
  2018-06-30 |                                         |  43.32M
  2019-06-30 |                                         |  97.52M
  2020-06-30 |                                         |  115.18M
  2021-06-30 |                                    |  27.66M
  2022-06-30 |                                   |  38.80M
  2023-06-30 |                                         |  60.38M
  2024-06-30 |                                         |  138.85M
  2025-06-30 |                                         |  138.85M

               |                   |                   |                   |                    |
               -138.85M             -69.43M              0.00M              69.43M               138.85M

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         20/20 dates (100%)
  ✅ totalLiabilities                    20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for MRCY (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B               0.61B               1.22B               1.83B                2.43B
               |                   |                   |                   |                    |

  2006-06-30 |  0.39B
  2007-06-30 |  0.36B
  2008-06-30 |  0.34B
  2009-06-30 |  0.22B
  2010-06-30 |  0.22B
  2011-06-30 |  0.36B
  2012-06-30 |  0.39B
  2013-06-30 |  0.37B
  2014-06-30 |  0.37B
  2015-06-30 |  0.39B
  2016-06-30 |  0.74B
  2017-06-30 |  0.82B
  2018-06-30 |  1.06B
  2019-06-30 |  1.42B
  2020-06-30 |  1.61B
  2021-06-30 |  1.96B
  2022-06-30 |  2.30B
  2023-06-30 |  2.39B
  2024-06-30 |  2.38B
  2025-06-30 |  2.43B

               |                   |                   |                   |                    |
               0.00B               0.61B               1.22B               1.83B                2.43B

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           20/20 dates (100%)
  ⚠️  shortLongTermDebtTotal              13/20 dates (65%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for MRCY (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -1.57B              -0.78B               0.00B               0.78B                1.57B
               |                   |                   |                   |                    |

  2006-06-30 |                                        |  0.19B
  2007-06-30 |                                        |  0.17B
  2008-06-30 |                                        |  0.15B
  2009-06-30 |                                        |  0.15B
  2010-06-30 |                                         |  0.18B
  2011-06-30 |                                         |  0.30B ⊗
  2012-06-30 |                                         |  0.33B ⊗
  2013-06-30 |                                        |  0.33B ⊗
  2014-06-30 |                                        |  0.33B ⊗
  2015-06-30 |                                         |  0.35B ⊗
  2016-06-30 |                                         |  0.47B
  2017-06-30 |                                         |  0.73B ⊗
  2018-06-30 |                                         |  0.77B
  2019-06-30 |                                         |  1.28B ⊗
  2020-06-30 |                                         |  1.38B
  2021-06-30 |                                         |  1.48B
  2022-06-30 |                                        |  1.54B
  2023-06-30 |                                        |  1.57B
  2024-06-30 |                                     |  1.47B
  2025-06-30 |                                        |  1.47B

               |                   |                   |                   |                    |
               -1.57B              -0.78B               0.00B               0.78B                1.57B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for MRCY (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               -289.73M            -144.86M              0.00M              144.86M              289.73M
               |                   |                   |                   |                    |

  2020-03-31 |                                         |  208.02M
  2020-06-30 |                                         |  217.38M
  2020-09-30 |                                         |  205.62M
  2020-12-31 |                                         |  210.68M
  2021-03-31 |                                         |  256.86M
  2021-06-30 |                                         |  250.84M
  2021-09-30 |                                        |  225.01M
  2021-12-31 |                                        |  220.38M
  2022-03-31 |                                         |  253.07M
  2022-06-30 |                                         |  289.73M
  2022-09-30 |                                       |  227.58M
  2022-12-31 |                                       |  229.59M
  2023-03-31 |                                         |  263.48M
  2023-06-30 |                                        |  253.24M
  2023-09-30 |                                    |  180.99M
  2023-12-31 |                                        |  248.56M
  2024-03-31 |                                       |  204.43M
  2024-06-30 |                                        |  248.56M
  2024-09-30 |                                       |  204.43M
  2024-12-31 |                                       |  223.12M
  2025-03-31 |                                      |  211.36M
  2025-06-30 |                                         |  273.11M
  2025-09-30 |                                       |  225.21M
  2025-12-31 |                                       |  232.87M
  2026-03-31 |                                        |  235.76M

               |                   |                   |                   |                    |
               -289.73M            -144.86M              0.00M              144.86M              289.73M

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ researchAndDevelopment              25/25 dates (100%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for MRCY (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00M              47.08M              94.17M              141.25M              188.34M
               |                   |                   |                   |                    |

  2020-03-31 |  114.69M
  2020-06-30 |  120.76M
  2020-09-30 |  117.50M
  2020-12-31 |  122.01M
  2021-03-31 |  151.23M
  2021-06-30 |  148.06M
  2021-09-30 |  136.60M
  2021-12-31 |  133.16M
  2022-03-31 |  153.32M
  2022-06-30 |  170.16M
  2022-09-30 |  149.48M
  2022-12-31 |  148.63M
  2023-03-31 |  173.19M
  2023-06-30 |  185.85M
  2023-09-30 |  130.46M
  2023-12-31 |  175.35M
  2024-03-31 |  152.64M
  2024-06-30 |  175.35M
  2024-09-30 |  152.64M
  2024-12-31 |  162.30M
  2025-03-31 |  154.25M
  2025-06-30 |  188.34M
  2025-09-30 |  162.31M
  2025-12-31 |  172.24M
  2026-03-31 |  176.27M

               |                   |                   |                   |                    |
               0.00M              47.08M              94.17M              141.25M              188.34M

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for MRCY (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -684.75M            -342.38M              0.00M              342.38M              684.75M
               |                   |                   |                   |                    |

  2020-03-31 |                                         |  407.15M
  2020-06-30 |                                         |  226.84M
  2020-09-30 |                                         |  239.12M
  2020-12-31 |                                         |  244.34M
  2021-03-31 |                                         |  230.62M
  2021-06-30 |                                         |  271.51M
  2021-09-30 |                                        |  272.01M
  2021-12-31 |                                         |  526.61M
  2022-03-31 |                                        |  523.94M
  2022-06-30 |                                        |  521.39M
  2022-09-30 |                                     |  578.76M
  2022-12-31 |                                         |  575.19M
  2023-03-31 |                                        |  579.60M
  2023-06-30 |                                         |  588.73M
  2023-09-30 |                                        |  640.67M
  2023-12-31 |                                         |  684.75M
  2024-03-31 |                                        |  681.97M
  2024-06-30 |                                         |  654.08M
  2024-09-30 |                                        |  651.30M
  2024-12-31 |                                         |  649.30M
  2025-03-31 |                                         |  646.82M
  2025-06-30 |                                         |  644.24M
  2025-09-30 |                                         |  645.13M
  2025-12-31 |                                         |  674.72M
  2026-03-31 |                                         |  653.95M

               |                   |                   |                   |                    |
               -684.75M            -342.38M              0.00M              342.38M              684.75M

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for MRCY (in M)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -85.46M             -42.73M              0.00M              42.73M               85.46M
               |                   |                   |                   |                    |

  2020-03-31 |                                         |  30.08M
  2020-06-30 |                                         |  28.73M
  2020-09-30 |                                         |  22.93M
  2020-12-31 |                                         |  23.94M
  2021-03-31 |                                         |  23.18M
  2021-06-30 |                                         |  27.19M
  2021-09-30 |                                        |  5.38M
  2021-12-31 |                                         |  8.03M
  2022-03-31 |                                       |  6.07M
  2022-06-30 |                                |  -19.43M
  2022-09-30 |          |  -66.04M
  2022-12-31 |                                         |  35.39M
  2023-03-31 |                                       |  9.45M
  2023-06-30 |                                         |  71.76M
  2023-09-30 |                                  |  -14.66M
  2023-12-31 |                                         |  85.46M
  2024-03-31 |                                 |  -17.80M
  2024-06-30 |                                         |  71.76M
  2024-09-30 |                                  |  -14.66M
  2024-12-31 |                                         |  85.46M
  2025-03-31 |                                         |  29.97M
  2025-06-30 |                                         |  38.08M
  2025-09-30 |                                         |  6.55M
  2025-12-31 |                                         |  48.45M
  2026-03-31 |                                         |  8.26M

               |                   |                   |                   |                    |
               -85.46M             -42.73M              0.00M              42.73M               85.46M

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for MRCY (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00B               0.63B               1.25B               1.88B                2.50B
               |                   |                   |                   |                    |

  2020-03-31 |  1.77B
  2020-06-30 |  1.61B
  2020-09-30 |  1.65B
  2020-12-31 |  1.95B
  2021-03-31 |  1.90B
  2021-06-30 |  1.96B
  2021-09-30 |  1.97B
  2021-12-31 |  2.23B
  2022-03-31 |  2.26B
  2022-06-30 |  2.30B
  2022-09-30 |  2.35B
  2022-12-31 |  2.35B
  2023-03-31 |  2.38B
  2023-06-30 |  2.39B
  2023-09-30 |  2.40B
  2023-12-31 |  2.44B
  2024-03-31 |  2.38B
  2024-06-30 |  2.38B
  2024-09-30 |  2.37B
  2024-12-31 |  2.40B
  2025-03-31 |  2.41B
  2025-06-30 |  2.43B
  2025-09-30 |  2.46B
  2025-12-31 |  2.50B
  2026-03-31 |  2.48B

               |                   |                   |                   |                    |
               0.00B               0.63B               1.25B               1.88B                2.50B

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for MRCY (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               -1.57B              -0.78B               0.00B               0.78B                1.57B
               |                   |                   |                   |                    |

  2020-03-31 |                                         |  1.35B
  2020-06-30 |                                         |  1.38B
  2020-09-30 |                                         |  1.41B
  2020-12-31 |                                         |  1.43B
  2021-03-31 |                                         |  1.45B
  2021-06-30 |                                         |  1.48B
  2021-09-30 |                                        |  1.48B
  2021-12-31 |                                        |  1.49B
  2022-03-31 |                                         |  1.50B
  2022-06-30 |                                         |  1.54B
  2022-09-30 |                                        |  1.54B
  2022-12-31 |                                        |  1.54B
  2023-03-31 |                                         |  1.56B
  2023-06-30 |                                        |  1.57B
  2023-09-30 |                                        |  1.54B
  2023-12-31 |                                        |  1.50B
  2024-03-31 |                                        |  1.47B
  2024-06-30 |                                        |  1.47B
  2024-09-30 |                                        |  1.46B
  2024-12-31 |                                        |  1.46B
  2025-03-31 |                                        |  1.45B
  2025-06-30 |                                         |  1.47B
  2025-09-30 |                                        |  1.48B
  2025-12-31 |                                        |  1.46B
  2026-03-31 |                                        |  1.48B

               |                   |                   |                   |                    |
               -1.57B              -0.78B               0.00B               0.78B                1.57B

Price History

Volume

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