Mercury Systems, Inc.
IndustrialsNASDAQ:MRCY · NASDAQ Global Select
+$0.98 today
Vol 0.46M · Avg 0.70M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$966.9M of revenue converted into -$14.1M of net income for the selected period. Gross margin is 27.6% and net margin is -1.8%, showing how much revenue survives after costs and taxes. EPS is $-0.85, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $912.0M +9.2% | $835.3M -14.2% | $973.9M +0.0% | $973.9M +5.4% | $924.0M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $657.5M +2.8% | $639.4M -2.7% | $657.2M +0.0% | $657.2M +22.0% | $538.8M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $254.5M +29.9% | $195.9M -38.1% | $316.7M +0.0% | $316.7M -17.8% | $385.2M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 27.9% +4.5pp | 23.5% -9.1pp | 32.5% +0.0pp | 32.5% -9.2pp | 41.7% | 9.8% | 28.9% | 38.3% |
| Research & Development | $67.6M -33.2% | $101.3M -6.9% | $108.8M +0.0% | $108.8M -4.1% | $113.5M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $154.4M -7.4% | $166.8M +3.8% | $160.6M +0.0% | $160.6M +19.6% | $134.3M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $274.1M -20.2% | $343.7M +1.5% | $338.4M +0.0% | $338.4M +11.3% | $304.2M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $82.0M -6.8% | $88.0M -9.6% | $97.3M +0.0% | $97.3M +45.1% | $67.1M | $374.2M | $1.2B | $631.8M |
| EBITDA | $65.0M +198.2% | -$66.2M -189.6% | $73.9M +0.0% | $73.9M -54.7% | $163.3M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 7.1% +15.1pp | -7.9% -15.5pp | 7.6% +0.0pp | 7.6% -10.1pp | 17.7% | 5.6% | 46.3% | 42.0% |
| Operating Income | -$19.6M +86.7% | -$147.8M -581.4% | -$21.7M +0.0% | -$21.7M -126.8% | $81.0M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | -2.2% +15.5pp | -17.7% -15.5pp | -2.2% +0.0pp | -2.2% -11.0pp | 8.8% | 16.6% | 24.1% | 22.0% |
| Interest Income | $3.6M +200.8% | $1.2M +13.9% | $1.1M +0.0% | $1.1M +488.3% | $179.0K | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $33.4M -4.5% | $35.0M +39.2% | $25.2M +0.0% | $25.2M +1958.8% | $1.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$30.8M +25.8% | -$41.5M -54.6% | -$26.9M +0.0% | -$26.9M -601.6% | -$3.8M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | -$50.4M +73.4% | -$189.3M -289.9% | -$48.5M +0.0% | -$48.5M -162.9% | $77.2M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | -5.5% +17.1pp | -22.7% -17.7pp | -5.0% +0.0pp | -5.0% -13.3pp | 8.4% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | -$12.5M +75.8% | -$51.6M -155.5% | -$20.2M +0.0% | -$20.2M -233.6% | $15.1M | $1.3B | -$1.6B | $745.2M |
| Net Income | -$37.9M +72.5% | -$137.6M -385.8% | -$28.3M +0.0% | -$28.3M -145.7% | $62.0M | $4.9B | $4.8B | $4.7B |
| Net Margin | -4.2% +12.3pp | -16.5% -13.6pp | -2.9% +0.0pp | -2.9% -9.6pp | 6.7% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$1 +72.7% | -$2 -376.0% | -$1 +0.0% | -$1 -144.2% | $1 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$1 +72.7% | -$2 -376.0% | -$1 +0.0% | -$1 -144.6% | $1 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $58.7M +1.7% | $57.7M +2.1% | $56.6M +0.0% | $56.6M +2.7% | $55.1M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $58.7M +1.7% | $57.7M +2.1% | $56.6M +0.0% | $56.6M +1.9% | $55.5M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Powell Industries, Inc.
NASDAQ:POWL
$10.74B
Planet Labs PBC
NYSE:PL
$10.37B
EnerSys
NYSE:ENS
$8.19B
Everus Construction Group, Inc.
NYSE:ECG
$7.60B
Ralliant Corp.
NYSE:RAL
$7.40B
Avis Budget Group, Inc.
NASDAQ:CAR
$6.61B
Amentum Holdings, Inc.
NYSE:AMTM
$5.58B
Herc Holdings Inc.
NYSE:HRI
$4.83B
Spirit AeroSystems Holdings, Inc.
SPR
$4.64B
The Brink's Company
NYSE:BCO
$4.20B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does MRCY generate?
Mercury Systems, Inc. (MRCY) reported $912.02M of revenue in fiscal 2025.
Is MRCY profitable?
Mercury Systems, Inc. (MRCY) reported -$37,904,000.00 of net income, with a net margin of -4.2%.
Explore More
Continue the stock analysis
Jump to another research area for this company.