Mercury Systems Inc
Description
Mercury Systems, Inc., a technology company, manufactures and sells components, products, modules, and subsystems for defense prime contractors, the U.S. government, and original equipment manufacturers commercial aerospace companies. in the United States, Europe, and the Asia Pacific. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers. 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 boards; and integrated subsystems. It also designs and develops 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. The company was formerly known as Mercury Computer Systems, Inc. and changed its name to Mercury Systems, Inc. in November 2012. The company was incorporated in 1981 and is headquartered in Andover, Massachusetts.
About
CEO
Dr. William L. Ballhaus
Employees
2,364
Instrument type
Common Stock
Sector
Industrials
Industry
Aerospace & Defense
MIC code
XNGS
Address
50 Minuteman Road, Andover, MA 01810, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 4, 2025 | — | — | — | — |
| Aug 11, 2025 | — | — | — | — |
| May 5, 2025 | — | — | — | — |
| Feb 4, 2025 | -0.04 | — | — | — |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Current Year
(Jun 2025)
|
Next Year
(Jun 2026)
|
||
|---|---|---|---|---|
| Number of analysts | — | 8 | 8 | 8 |
| Average estimate | — | 0.09 | 0.35 | 0.93 |
| Low estimate | — | 0.04 | 0.16 | 0.60 |
| High estimate | — | 0.21 | 0.60 | 1.30 |
| Last year EPS | — | -0.26 | -0.69 | 0.35 |
[stock_revenue_estimate]
Growth estimates
Current qtr
89.950%
Next qtr. (Mar 2025)
134.720%
Current year (Jun 2025)
150.160%
Next year (Jun 2026)
168.120%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | 2020-06-30 |
| Total reported revenue | 835.28M | 973.88M | 988.20M | 924.00M | 796.61M |
| Cost of revenue | 639.37M | 657.15M | 593.24M | 538.81M | 439.77M |
| Gross profit | 195.90M | 316.73M | 394.96M | 385.19M | 356.84M |
| Operating expense | |||||
| Research & development | 101.33M | 108.80M | 107.17M | 113.48M | 98.49M |
| Selling general and admin | 166.79M | 160.64M | 157.04M | 134.34M | 132.25M |
| Other operating expenses | — | — | — | — | — |
| Operating income | -119.87M | -6.26M | 70.48M | 96.20M | 95.55M |
| Non operating interest income | |||||
| Income | 1.20M | 1.05M | 143,000 | 179,000 | 2.15M |
| Expense | 35.02M | 25.16M | 5.81M | 1.22M | 1.01M |
| Other income expense | -35.59M | -18.18M | -46.42M | -17.98M | -2.76M |
| Pretax income | -189.28M | -48.54M | 18.40M | 77.17M | 93.93M |
| Tax provision | -51.64M | -20.21M | 7.12M | 15.13M | 8.22M |
| Net income | -137.64M | -28.34M | 11.28M | 62.04M | 85.71M |
| Basic EPS | -2.38 | -0.50 | 0.20 | 1.13 | 1.57 |
| Diluted EPS | -2.38 | -0.50 | 0.20 | 1.12 | 1.56 |
| Basic average shares | 57.74M | 56.55M | 55.53M | 55.07M | 54.55M |
| Diluted average shares | 57.74M | 56.55M | 55.53M | 55.07M | 54.55M |
| EBITDA | -38.35M | 89.37M | 156.48M | 160.68M | 148.75M |
| Net income from continuing op. | -137.64M | -28.34M | 11.28M | 62.04M | 85.71M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-06-30 | 2023-06-30 | 2022-06-30 | 2021-06-30 | 2020-06-30 |
| Total assets | 2.38B | 2.39B | 2.30B | 1.96B | 1.61B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 180.52M | 71.56M | 65.65M | 113.84M | 226.84M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 111.44M | 124.73M | 144.49M | 128.81M | 120.44M |
| Other receivables | 304.03M | 382.56M | 303.36M | 162.92M | 90.29M |
| Inventory | 335.30M | 337.22M | 270.34M | 221.64M | 178.09M |
| Prepaid assets | — | — | 7.50M | 782,000 | 2.50M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 22.49M | 20.95M | 23.91M | 15.11M | 16.61M |
| Non current assets | |||||
| Properties | 60.86M | 63.02M | 66.37M | 66.37M | 60.61M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 311.05M | 282.53M | 250.96M | 222.53M | 182.67M |
| Construction in progress | — | — | — | — | — |
| Leases | 72.42M | 70.31M | 66.12M | 63.32M | 36.87M |
| Accumulated depreciation | -273.12M | -233.28M | -189.89M | -157.33M | -131.81M |
| Goodwill | 2.13B | 2.17B | 2.23B | 1.92B | 1.44B |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 250.51M | 298.05M | 351.54M | 307.56M | 208.75M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 65.30M | 35.64M | 6.19M | 4.68M | 4.78M |
| Total liabilities | 906.13M | 824.68M | 767.23M | 470.99M | 225.94M |
| Current liabilities | |||||
| Accounts payable | 81.07M | 103.99M | 98.67M | 47.95M | 41.88M |
| Accrued expenses | 42.93M | 28.42M | 34.95M | 24.65M | 23.79M |
| Short term debt | — | — | — | — | — |
| Deferred revenue | 73.92M | 56.56M | 15.49M | 38.18M | 18.97M |
| Tax payable | 109,000 | 13.87M | — | — | — |
| Pensions | 36.40M | 30.42M | 44.81M | 40.04M | 41.27M |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 654.08M | 578.30M | 521.39M | 271.51M | 66.98M |
| Provision for risks and charges | 7.71M | 5.17M | 9.11M | 7.47M | 4.12M |
| Deferred liabilities | — | — | 32.40M | 28.81M | 13.89M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 9.92M | 7.96M | 10.41M | 12.38M | 15.03M |
| Shareholders equity | |||||
| Common stock | 581,000 | 570,000 | 557,000 | 552,000 | 547,000 |
| Retained earnings | 219.80M | 357.44M | 385.77M | 374.50M | 312.46M |
| Other shareholders equity | 9.99M | 11.83M | 5.53M | -339,000 | -2.89M |
| Total shareholders equity | 1.47B | 1.57B | 1.54B | 1.48B | 1.38B |
| Additional paid in capital | 1.24B | 1.20B | 1.15B | 1.11B | 1.07B |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||
| Net Income | -137.64M | -28.34M | 11.28M | 62.04M | 85.71M | 46.78M | 40.88M | 24.88M | 19.74M | 11.26M | -11.43M | -13.21M | 22.62M | 18.44M | 28.36M | -1.26M | -35.41M | -37.82M | -16.17M | 30.19M | 22.89M | 22.68M | 15.83M | 30.68M | 24.90M | 13.50M | 8.70M |
| Depreciation | 88.03M | 97.33M | 93.42M | 67.08M | 49.33M | 46.39M | 42.28M | 32.27M | 15.74M | 13.84M | 15.61M | 17.21M | 11.66M | 8.35M | 6.86M | 9.36M | 15.99M | 17.96M | 17.56M | 9.72M | 7.27M | 8.21M | 7.09M | 6.13M | 5.10M | 4.50M | 3.30M |
| Deferred Taxes | -31.51M | -59.65M | -2.42M | -1.13M | -3.02M | -1.56M | -5.46M | -7.84M | -3.06M | -1.04M | -5.50M | -10.08M | -3.06M | 1.89M | -9.70M | -1.37M | 3.58M | 1.82M | -5.97M | 1.04M | -1.42M | -43,000 | -1.90M | -2.72M | 590,000 | -1.20M | -1.10M |
| Stock-Based Compensation | 41.52M | 43.42M | 38.29M | 28.29M | 26.54M | 19.42M | 17.31M | 15.34M | 9.57M | 8.73M | 9.24M | 7.94M | 6.62M | 5.58M | 4.02M | 4.57M | 10.36M | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | 7.86M | 4.85M | -603,000 | 3.75M | 3.51M | 3.78M | 2.10M | 1.18M | -421,000 | -495,000 | -619,000 | -757,000 | -5.49M | -898,000 | -1.23M | -2.65M | -185,000 | 12.56M | 10.97M | 3.60M | 2.53M | — | — | — | — | 100,000 | — |
| Accounts Receivable | 76.46M | -58.72M | -146.48M | -51.98M | -31.08M | -28.10M | -22.75M | -14.05M | -25.40M | 5.94M | -12.43M | 4.76M | 6.76M | 257,000 | -15.26M | 1.24M | 3.15M | -1.40M | 10.40M | 4.52M | -19.18M | 8.94M | 4.32M | -11.56M | 1.50M | -11.90M | -3.50M |
| Accounts Payable | 741,000 | -16.73M | 58.40M | -6.32M | 13.61M | 17.95M | -5.27M | 3.52M | 18.87M | -475,000 | 1.16M | -13.09M | -1.09M | 931,000 | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 12.54M | -24.10M | -62.49M | -12.00M | -18.56M | -18.49M | -11.90M | -6.48M | -1.91M | 1.28M | 6.64M | 2.32M | -9.10M | -1.80M | 233,000 | -26,000 | 157,000 | -3.84M | 2.44M | -8.21M | 7.93M | 9.97M | -7.11M | 10.16M | -7.30M | -1.90M | -1.00M |
| Operating Cash Flow | 57.99M | -41.94M | -10.61M | 89.75M | 126.04M | 86.18M | 57.20M | 48.82M | 33.15M | 39.03M | 2.69M | -4.91M | 28.91M | 32.75M | 13.28M | 9.86M | -2.36M | -10.73M | 19.23M | 40.84M | 20.02M | 49.75M | 18.23M | 32.70M | 24.79M | 3.10M | 6.40M |
| Investing Activities | |||||||||||||||||||||||||||
| Capital Expenditures | -34.29M | -38.80M | -27.66M | -45.60M | -43.29M | -26.69M | -15.11M | -32.84M | -7.89M | -5.98M | -6.70M | -3.11M | -9.43M | -8.83M | -7.33M | -4.13M | -4.63M | 18.15M | -13.40M | -11.41M | -5.60M | -365,000 | 614,000 | -987,000 | -6.64M | -19.40M | -6.30M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | -50,000 | -2.38M | -250,000 | -234,000 | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | -243.46M | -372.83M | -96.50M | -127.08M | -185.40M | -77.76M | -309.76M | — | — | -67.72M | -71.04M | -29.51M | — | — | -2.40M | -1.51M | -67.51M | -16.18M | -17.43M | — | -7.95M | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -138.58M | -182.53M | -125.17M | -139.93M | -237.60M | -153.76M | -76.10M | -71.07M | -113.65M | -127.02M | -114.60M | -73.60M |
| Sale of Investments | — | — | — | 1.54M | 4.31M | — | — | — | — | — | — | — | — | 18.03M | 32.03M | 199.10M | 177.98M | 159.19M | 185.45M | 272.30M | 30.00M | 33.87M | 99.12M | 94.54M | 86.23M | 121.80M | 44.60M |
| Investing Cash Flow | -34.29M | -38.56M | -274.32M | -415.35M | -135.49M | -153.77M | -200.88M | -111.09M | -318.21M | -6.48M | -6.72M | -71.09M | -80.80M | -20.31M | 23.87M | 67.18M | -7.25M | 50.65M | -35.39M | 7.10M | -146.78M | -42.60M | 19.72M | -21.80M | -45.89M | -12.70M | -35.40M |
| Financing Activities | |||||||||||||||||||||||||||
| Long-Term Debt Issuance | — | — | — | — | 200.00M | 129.50M | 210.00M | — | 194.90M | — | — | — | — | — | 30,000 | -248,000 | — | — | — | — | — | — | — | — | — | — | — |
| Long-Term Debt Payments | -25.00M | -80.00M | — | — | -200.00M | -324.50M | -15.00M | -200.00M | — | -642,000 | -763,000 | -7.17M | -185,000 | -298,000 | -33.36M | -125.00M | -120,000 | — | — | — | — | — | — | — | — | — | — |
| Other Financing Charges | -1.93M | — | -2.91M | — | — | -7.27M | — | -591,000 | -2.93M | 943,000 | 21,000 | 2.25M | 529,000 | 803,000 | 1.32M | 976,000 | 243,000 | -2.94M | 581,000 | — | -1,000 | — | — | — | — | — | — |
| Financing Cash Flow | 53.04M | -20.06M | 240.38M | 199.93M | -16.25M | 49.10M | 374.49M | -193.63M | 471.70M | -643,000 | -742,000 | -4.92M | 344,000 | 94.11M | -65.81M | -91.59M | 703,000 | -1.62M | -5.79M | -18.82M | 3.74M | -7.28M | -30.56M | 4.32M | 3.74M | 1.70M | 19.10M |
| Other Cash Details | |||||||||||||||||||||||||||
| End Cash Position | 180.52M | 71.56M | 65.65M | 113.84M | 226.84M | 257.93M | 66.52M | 41.64M | 81.69M | 77.59M | 47.29M | 39.13M | 115.96M | 162.88M | 56.24M | 46.95M | 59.05M | 51.29M | 22.98M | 43.14M | 18.70M | 17.16M | 17.51M | 13.31M | 5.85M | 3.70M | — |
| Income Tax Paid | — | 24.24M | 14.12M | 8.98M | 12.94M | 7.35M | 17.00M | 2.83M | -7.98M | 7.88M | 3.19M | -3.31M | 8.69M | 4.40M | 2.59M | 3.52M | 206,000 | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 37.42M | 27.29M | 5.49M | 1.09M | 1.05M | 10.37M | 1.61M | 5.76M | -1.04M | 34,000 | 49,000 | 39,000 | 40,000 | 45,000 | 150,000 | 1.88M | 2.50M | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 26.09M | -60.05M | -46.53M | 51.65M | 71.89M | 70.83M | 28.22M | 26.30M | 29.06M | 26.22M | 7.54M | -5.75M | 22.44M | 20.27M | 8.12M | 6.84M | 9.10M | -18.53M | 8.65M | 26.58M | 20.34M | 44.34M | 10.16M | 18.69M | 24.03M | -10.30M | 800,000 |
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Mercury Systems, Inc. (MRCY) Q2 2025 Earnings Call Transcript
Mercury Systems, Inc. (NASDAQ:MRCY ) Q2 2025 Earnings Conference Call February 4, 2025 5:00 PM ET Company Participants Tyler Hojo - Vice President, Investor Relations Bill Ballhaus - Chairman & Chief Executive Officer Dave Farnsworth - Executive Vice President & Chief Financial Officer Conference Call Participants Pete Skibitski - Alembic Global Peter Arment - Baird Ken Herbert - RBC Capital Markets Seth Seifman - JPMorgan Jonathan Ho - William Blair Michael Ciarmoli - Truist Securities Brian Gesuale - Raymond James Sheila Kahyaoglu - Jefferies Operator Good day, everyone, and welcome to the Mercury Systems Second Quarter Fiscal 2025 Conference Call. Today's call is being recorded.
Feb 5, 2025
