MRCYNasdaqElectronic Components & AccessoriesFiscal year ends June 30
MERCURY SYSTEMS INC
Financials through Q4 FY2026, quarter ended Jul 3, 2026Last filing: 10-K on Aug 18, 2026
$75.99+1.72 (+2.32%)
Close on Oct 19, 2026
- Market cap
- $4.54B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
28.6%−13.1 pts over 5 years
Operating margin
0.0%−8.7 pts over 5 years
Net margin
-3.0%−9.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.9% | +0.3% | +1.3% | +13.8% | |
| Gross profit | +10.5% | -3.9% | -6.1% | +8.2% | |
| Operating income | – | – | -67.8% | -35.9% | |
| Free cash flow | -42.8% | – | +5.7% | +8.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 4.2% | 4.3% | -2.0% | |
| Return on assets | 3.2% | 3.5% | -1.2% | |
| Current ratio | 3.38 | 4.26 | 2.96 | |
| Interest coverage | 4.9× | 66.3× | 0.0× | |
| Inventory turnover | 3.1× | 2.7× | 2.0× | |
| Capex to revenue | 8.0% | 4.9% | 3.5% | |
| Diluted shares | 43M | 55M | 59M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Mercury Systems generated $341.74M from operations and spent $178.15M on capital expenditure, dividends and share buybacks. 87% of that went back into the business.
Generated
$341.74M
Used
$178.15M
Capital expenditure$154.85M87%Dividends$00%Share buybacks$23.30M13%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-3.0%
×Asset turnover0.41×
×Equity multiplier1.60×
=Return on equity, FY2026-2.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -3.0% | 0.41× | 1.60× | -2.0% |
| FY2025 | -4.2% | 0.38× | 1.63× | -2.6% |
| FY2024 | -16.5% | 0.35× | 1.57× | -9.1% |
| FY2023 | -2.9% | 0.41× | 1.51× | -1.8% |
| FY2022 | 1.1% | 0.46× | 1.41× | 0.7% |
| FY2021 | 6.7% | 0.52× | 1.24× | 4.3% |
| FY2020 | 10.8% | 0.53× | 1.13× | 6.4% |
| FY2019 | 7.1% | 0.53× | 1.21× | 4.5% |
| FY2018 | 8.3% | 0.52× | 1.26× | 5.5% |
| FY2017 | 6.1% | 0.53× | 1.30× | 4.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero-$29.67M
- Cash generatingOperating cash flow above zero$102.39M
- Return on assets improvedROA up on the prior year-1.6% → -1.2%
- Earnings backed by cashOperating cash flow above net income$102.39M vs -$29.67M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.52 → 2.96
- No dilutionShare count did not rise59M → 59M
- Gross margin improvedGross margin up on the prior year27.90% → 28.58%
- More efficientAsset turnover rose0.38 → 0.40