MRCYMERCURY SYSTEMS INC
Electronic Components & Accessories
- Revenue
- $984M
- 7.9% YoY
- Operating margin
- 0.0%
- 101% YoY
- EBITDA
- $73M
- 17% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -0.3×
- −$22M net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear4% of revenueOver 10% of revenue
- Payouts exceed cash flowClear15% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired41% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $988M | $974M | $835M | $912M | $984M | 7.9% |
| Operating income | $32M | −$22M | −$148M | −$20M | $280K | 101% |
| Net income | $11M | −$28M | −$138M | −$38M | −$30M | 22% |
| Operating cash flow | −$19M | −$21M | $60M | $139M | $102M | 26% |
| Capex | $28M | $39M | $34M | $20M | $34M | 73% |
| Stock-based comp | $38M | $28M | $26M | $25M | $41M | 64% |
| Buybacks | $8M | $63K | $31K | $0 | $15M |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $501K · 3
- Net
- −$501K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 191 | 241 |
| FY2025 | — | — | 81 | 187 |
| FY2024 | — | — | 41 | 136 |
| FY2023 | — | — | 52 | 112 |
| FY2022 | — | — | 97 | 94 |