ZYBERNO
Stock Report
Updated Aug 29, 2026

MERCURY SYSTEMS, INC (MRCY)

Technology • NASDAQ

$88.54
Mercury Systems Inc. is an American provider of processing and sensor integration systems for defense applications headquartered in Andover, Massachusetts. The company designs and manufactures embedded computing boards, systems, and subsystems that perform complex signal processing functions in defense electronics including radar, electronic warfare, and intelligence systems for U.S. and allied military programs.

Professional Investment Analysis

ZYBERNO SCORE
Is it a great business? Is it getting better?
37.0/100
WEAK BUSINESS
MERCURY SYSTEMS, INC (MRCY) scores 37/100 — weak fundamentals with mixed indicators requiring careful analysis before acting.
📊 How is the Zyberno Score calculated? +
VALUATION SIGNAL
MARGIN OF SAFETY
Is this stock cheap or expensive relative to what the business has historically generated for owners?
-100.0%
Overvalued
Growth gap unavailable — insufficient data for reverse DCF calculation.
🎯 Expected Annual Return
0.0%
5-year annualised assuming price converges to intrinsic value
💰 How is Margin of Safety calculated? +
📈 How is Brina Gap calculated? +

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-2.0%)
Debt-to-Equity (Solvency Risk):EXCELLENT (0.08x)
Operating Margin (Operational Efficiency):CRITICAL (0.0%)
Return on Capital (Capital Efficiency):CRITICAL (0.0%)
📊 Valuation Trilogy
Three interconnected metrics for complete valuation analysis
Click any metric for full methodology and detailed analysis
Zyberno's Verdict

MERCURY SYSTEMS, INC (MRCY) stock report — Zyberno Score 37/100 (WEAK BUSINESS), Margin of Safety -100.0%, 0% expected annual return. Full financial analysis on Zyberno.

According to Zyberno's DCF model, MERCURY SYSTEMS, INC (MRCY) trades at $88.54 against an estimated intrinsic value per share of $35.63 — a -100.0% Margin of Safety based on Owner Earnings of $68.09M TTM, projected at 38.0% growth for 10 years with a 2.5% terminal growth rate. Zyberno's model translates this into a 5-year expected return of 0.0% annually.

Over the trailing twelve months, MRCY generated $68.09M in Owner Earnings. Capital was deployed as follows: $16.00K returned via share buybacks, $34.30M invested in capital expenditures. Owner Earnings have grown at 38.0% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY
A. Market Valuation

Market Price & Capitalization (2)

Current Price:88.54
Market Cap:$5.26B

Valuation Multiples (3)

P/B Ratio:3.52x
P/S Ratio:5.35x
Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$5.10B
Ev Ebitda Ratio:49.80x
Pfcf Ratio:77.32x

Price Action & Momentum (3)

Momentum Percentile:94 / 100
% of 52-Week High:68.9%
B. Profitability Assessment

Margin Analysis (3)

Operating Margin Ttm:0.0%
Net Margin Ttm:-3.0%
Ebitda Margin:10.4%

TTM Performance (3)

Gross Margin Ttm:28.6%
Operating Margin Ttm:0.0%
Net Margin Ttm:-3.0%

Yield Metrics (3)

Earnings Yield:-$0.56
Owner Earnings Yield:$1.29
Dividend Yield:0.0%
C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

EPS Surprise vs Expected:-19.5%
Latest Earnings Filed:2026-08-18

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):2.9%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):37.9%
Operating Cash Flow Growth Rate (Linear):-17.6%
D. Financial Stability

Liquidity Ratios (3)

Current Ratio:2.96x
Quick Ratio:1.85x
Cash Ratio:0.65x

Leverage Analysis (3)

Debt To Equity Ttm:0.08x
Debt-to-Equity Ratio:0.08x
Debt To Ebitda:0.52x

Coverage Ratios (2)

Interest Coverage Ratio:0.01x
Times Interest Earned:0.01

Capital Structure (4)

Working Capital:644,914,000.00
Cash And Cash Equivalents:214,306,000.00
Long Term Debt:$45.83M
Net Debt:-$161.53M
DIVISION II: FINANCIAL STATEMENTS ANALYSIS
A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $983.62M
Linear Growth: 2.9%
📊 Click to view full MRCY Revenue analysis & methodology →
Cost Of Revenue Ttm:$702.46M

Profitability Breakdown (2)

Gross profit TTM: $281.17M
Linear Growth: 1.4%
📊 Click to view full MRCY Gross Profit analysis & methodology →
$280.00K

Bottom Line Performance (3)

-$29.67M
Income Before Tax:-$62.88M
Ebitda Ttm:102,477,000.00

Operating Expenses (5)

Operating Expenses:280,885,000.00
R And D Expense:59,736,000.00
Sga Expense:175,031,000.00
Income Tax Expense:$784.00K
Interest Expense:29,590,000.00

Expense Ratios (3)

R And D To Revenue Percentage:20.6%
Sga To Revenue Percentage:60.4%
Ebitda Margin:10.4%
B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$2.32B
Current Assets:$973.44M
Ppe Net:453,607,000.00
Goodwill:942,419,000.00
Intangible Assets:$175.82M

Liability Structure (4)

Total Liabilities:825,318,000.00
Current Liabilities:328,525,000.00
Long Term Debt:$45.83M
Short Term Debt:$6.95M

Equity & Capital (3)

Equity:$1.50B
Retained Earnings:$152.22M
Common Stock:85,000,000.00

Working Capital Items (3)

Accounts Receivable:69,222,000.00
Inventory:366,968,000.00
Accounts Payable:91,041,000.00

Special Items (2)

Contract Liabilities:151,055,000.00
Stock Based Compensation:11,917,000.00
C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $102.39M
Linear Growth: -17.6%
Free cash flow TTM: $68.09M
Linear Growth: 37.9%
📊 Click to view full MRCY Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$13.59M
Capital Expenditures Ttm:34,301,000.00

Financing Activities (3)

Financing Cash Flow:-$147.31M
Dividends Paid Ttm:0.00
Stock Repurchase:16,000.00

Capital Transactions (3)

Common Stock Issuance:0.00
Long Term Debt Issuance:$0.00
Long Term Debt Repayments:$150.00M

Non-Cash Items (1)

Depreciation Amortization Ttm:102,197,000.00
DIVISION III: OPERATIONAL METRICS
A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-0.50
-$0.50
Earnings Per Share Ttm:-$0.50

Revenue & Cash Per Share (3)

Sales Per Share Ttm:16.54
Operating Cash Flow Per Share:$1.72
Fcf Per Share Ttm:1.15

Book Value & Capital (2)

Book Value Per Share:$25.18
Cash Per Share:3.60

Dividend Policy (1)

Dividend Payout Ratio:-999.00x
B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:0.40x
Working Capital Turnover Ttm:1.53x

Receivables Management (2)

Receivables Turnover Ttm:14.21x
Days Sales Outstanding Ttm:25.69

Inventory Management (2)

Inventory Turnover Ttm:1.91x
Days Inventory Outstanding Ttm:190.68

Payables & Cash Cycle (2)

Days Payable Outstanding:47.31
Cash Conversion Cycle:169.06
C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:100.00
Quality Score:55.00

Market Metrics (2)

Beta:0.00x
Volatility Category:unknown
DIVISION IV: INVESTMENT ANALYSIS
A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $68.09M
Linear Growth: 38.0%
📊 Click to view full MRCY Owner Earnings analysis & methodology →
Owner Earnings Per Share:$1.15
Owner Earnings Yield:$1.29

Growth Assessment (1)

Owner Earnings Growth Rate:$38.05

Intrinsic Value Models (1)

Return Scenarios (1)

Investment Assessment (1)

Buffett Assessment:Overvalued
B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):2.9%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):37.9%
Operating Cash Flow Growth Rate (Linear):-17.6%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):1.4%
Book Value Growth Rate (Linear):-0.9%
Owner Earnings Growth Rate:$38.05
C. Company Profile & Context

Corporate Information (6)

Symbol:MRCY
Company Name:MERCURY SYSTEMS, INC
Sector:Technology
Industry:Electronic Components & Accessories
Exchange:NASDAQ
Country:United States

Market Classification (3)

Market Cap Category:N/A
Price Category:high
Volume Category:N/A

Share Structure (3)

Shares Outstanding:59.46M
Shares Outstanding Basic:59.46M
Shares Outstanding Diluted:59.46M

Data Processing Info (3)

Processing Version:v3.0
Last Updated:2026-08-29 23:16:20 UTC
Data Timestamp:2026-08-29T23:16:20.360392
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