Stocks · Industrials · Aerospace & Defense
Mercury Systems, Inc. MRCY
$84.87 +0.95% Close, Oct 2, 2026 · NASDAQ · Market cap $5.10B
Expensive vs sector
Next earnings report: Nov 3, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Net debt is 3.8× EBITDA, a high level of leverage.
- Revenue over the last four quarters was $983.6M, up 7.9% from a year earlier.
- The stock is 33% below its highest close of the past year.
PromtFinance scores
Each score is a percentile within the Industrials sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 49%
- FCF growth (TTM, YoY)Bottom 22%
- Revenue growth, 3-year CAGRBottom 30%
- Revenue growth accelerationBottom 21%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 27%
- Gross marginBottom 46%
- Operating marginBottom 25%
- Accruals (lower is better)Top 37%
- Net debt / EBITDA (lower is better)Bottom 24%
- Interest coverBottom 25%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 31%
- Free-cash-flow yieldBottom 33%
- EBITDA / enterprise valueBottom 21%
- Sales / enterprise valueBottom 16%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 42%
- 6-month returnTop 35%
- 1-year return vs S&P 500Bottom 48%
- Distance from 52-week highBottom 35%
- Trend checklist (0–4)Top 42%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 4%
- Consecutive EPS beatsBottom 16%
- Share of analysts rating BuyTop 39%
- Upside to consensus price targetTop 44%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 28%
- Maximum drawdown, 3 yearsTop 25%
- Beta vs S&P 500 (lower is better)Bottom 30%
- Net debt / EBITDA (lower is better)Bottom 24%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 9.0% | 7.9% | ↓ |
| Gross margin | 27.9% | 26.7% | ↓ |
| Operating margin | -2.2% | 0.5% | ↑ |
| FCF margin | 13.1% | 6.6% | ↓ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 7.9% | 9.0% | ↓ | Top 49% |
| Gross margin | 26.7% | 27.9% | ↓ | Bottom 46% |
| Operating margin | 0.5% | -2.2% | ↑ | Bottom 25% |
| Net margin | -3.0% | -4.2% | ↑ | — |
| Free-cash-flow margin | 6.6% | 13.1% | ↓ | — |
| Return on invested capital | 0.3% | — | Bottom 27% | |
| Revenue growth, 3-year CAGR | 0.3% | — | Bottom 30% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.5%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 3.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -16.4 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 3.77×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 0.2×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- 0.19%
- Shareholder yield
- 0.19%
- Share count change, 1 year
- +4.3%
- Share count change, 3-year CAGR
- +2.6%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 3, 2026 (filed Aug 18, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 6 of 8
- Average EPS surprise, last 4
- +100.0%
- Average 2-day reaction, last 8
- +0.5%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $115.88
- Target vs current price
- +36.5%
- Analysts with a rating
- 20
- Share rating Buy or Strong Buy
- 65%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 18, 2026 | -3.3% | -7.4% | -21.0% | -23.2% | — |
| May 5, 2026 | +350.0% | +5.6% | +17.1% | +43.7% | +22.2% |
| Feb 3, 2026 | +128.6% | +5.7% | -9.1% | -4.8% | -20.4% |
| Nov 4, 2025 | +225.0% | -2.7% | -4.0% | -13.0% | +20.7% |
| Aug 11, 2025 | +123.8% | +1.4% | +26.3% | +30.0% | +47.2% |
| May 6, 2025 | +0.0% | -1.5% | -9.1% | -0.6% | +2.8% |
| Feb 4, 2025 | +275.0% | +0.2% | +11.9% | +3.1% | +19.1% |
| Nov 5, 2024 | +150.0% | +2.8% | +32.1% | +17.7% | +26.3% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 18, 2026 | $0.37 | $0.38 | -3.3% | $289.8M |
| May 5, 2026 | $0.27 | $0.06 | +350.0% | $235.8M |
| Feb 3, 2026 | $0.16 | $0.07 | +128.6% | $232.9M |
| Nov 4, 2025 | $0.26 | $0.08 | +225.0% | $225.2M |
| Aug 11, 2025 | $0.47 | $0.21 | +123.8% | $273.1M |
| May 6, 2025 | $0.06 | $0.06 | +0.0% | $211.4M |
| Feb 4, 2025 | $0.07 | -$0.04 | +275.0% | $223.1M |
| Nov 5, 2024 | $0.04 | -$0.08 | +150.0% | $204.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (forward) | 50.9× | — | — | — |
| EV / EBITDA | 70.8× | — | — | Bottom 21% |
| EV / Sales | 5.47× | — | — | Bottom 16% |
| Free-cash-flow yield | 1.27% | — | — | Bottom 33% |
| Earnings yield | -0.60% | — | — | Bottom 31% |
P/E over the past five years
Range 46.3× – 276.9× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -9.7%
- 200-day average slope (20 days)
- +1.5%
- Distance from 50-day average
- -8.5%
- Distance from 200-day average
- -7.6%
- RSI (14)
- 46.8
- Relative volume
- 0.80×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 60.0%
- Volatility vs own 5-year history
- 88th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.37
- Correlation with S&P 500
- 0.38
- Current drawdown from 1-year high
- -32.8%
- Maximum drawdown, 3 years
- -36.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Dec 31, 2020 | Feb 8, 2024 | -70.2% | 780 days | 480 days (Jan 8, 2026) |
| Jul 2, 2026 | Sep 28, 2026 | -36.5% | 60 days | Not yet recovered |
| Jan 16, 2026 | Mar 30, 2026 | -32.2% | 49 days | 41 days (May 28, 2026) |
| Oct 12, 2020 | Nov 18, 2020 | -14.7% | 27 days | 13 days (Dec 8, 2020) |
| Jun 12, 2026 | Jun 24, 2026 | -12.7% | 7 days | 4 days (Jun 30, 2026) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $5.10B
- EPS, diluted (TTM)
- -$0.51
- Revenue (TTM)
- $983.6M
- 52-week range
- $65.04 – $128.45
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Revenue | $973.9M | $973.9M | $835.3M | $912.0M | $983.6M |
| Gross profit | $316.7M | $316.7M | $195.9M | $254.5M | $242.3M |
| Operating income | -$21.7M | -$21.7M | -$147.8M | -$19.6M | $20.9M |
| Net income | -$28.3M | -$28.3M | -$137.6M | -$37.9M | -$29.7M |
| EPS (diluted) | -$0.50 | -$0.50 | -$2.38 | -$0.65 | -$0.50 |
| Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | Q4 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $204.4M | $223.1M | $211.4M | $273.1M | $225.2M | $232.9M | $235.8M | $289.8M |
| Net income | -$17.5M | -$17.6M | -$19.2M | $16.4M | -$12.5M | -$15.1M | -$2.9M | $798,000 |
| EPS (diluted) | -$0.30 | -$0.30 | -$0.33 | $0.28 | -$0.21 | -$0.26 | -$0.05 | $0.01 |
| FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|
| Operating cash flow | -$21.3M | $60.4M | $138.9M | $138.9M | $102.4M |
| Capital expenditure | -$38.8M | -$34.3M | -$19.8M | -$19.8M | -$34.3M |
| Free cash flow | -$60.0M | $26.1M | $119.0M | $119.0M | $68.1M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$63,000 | -$31,000 | $0 | $3.7M | -$9.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $214.3M
- Total assets
- $2.32B
- Total liabilities
- $825.3M
- Total debt
- $500.9M
- Net debt
- $286.6M
- Shareholders’ equity
- $1.50B
As of Jul 3, 2026 (filed Aug 18, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Mar 13, 2015 | $0.62 | — |
Short interest
- Shares sold short
- 5,032,343
- Days to cover
- 7.30
- Change vs previous report
- -3.8%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Dec 21, 1999
- 2-for-1