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Mercury Systems MRCY Q4 2025 Annual earnings

Reported August 11, 2025 · After market close

Revenue$211.4MMiss by $3.4MDiluted EPS$0.47Beat by $0.26
Revenue estimate$214.8M
EPS estimate$0.21

Next report

Aug 10, 2026 (In 2 weeks)
Revenue estimate$266.2M
EPS estimate$0.38

Financials

Q4 2025

Income statement

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Revenue$273.1M+9.9%
Gross profit$84.8M+15.8%

Balance sheet

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Cash & equivalents$309.1M+71.2%
Total debt$656.0M-1.4%
Total equity$1.5B0.0%
Total assets$2.4B+2.3%

Cash flow

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Operating cash flow$38.1M-46.9%
CapEx$4.1M-60.4%
Free cash flow$34.0M-44.7%

Valuation & ratios

Valuation

as of 06/27/25
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Market cap$2.99B+91.7%
Enterprise value$3.33B+63.2%
P/S3.3×+1.4×

Profitability

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Gross margin27.9%+4.5pp
FCF margin13.1%+9.9pp

Returns & leverage

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Debt / equity0.4×0.0×
Current ratio3.5×-0.5×

Segments

By product

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C4I Applications$99.5M+4.0%
Total Sensor And Effector Applications$91.4M+8.0%
Radar End User Applications$42.4M+66.3%
Other End User Applications$37.1M+30.2%
Other Sensor And Effector Applications$24.7M-23.4%

Versus estimates

Revenue

Q3 2026$235.8MBeat by $27.2MQ2 2026$232.9MBeat by $22.4MQ1 2026$225.2MMiss by $479.3K
Q4 2025$211.4MMiss by $3.4M
Q3 2025$211.4MMiss by $30.4MQ2 2025$223.1MBeat by $12.5M

Diluted EPS

Q3 2026$0.27Beat by $0.21Q2 2026$0.16Beat by $0.09Q1 2026$0.26Beat by $0.18
Q4 2025$0.47Beat by $0.26
Q3 2025$0.06In lineQ2 2025$0.07Beat by $0.11

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Questions, answered.

When did Mercury Systems report Q4 2025 earnings?
Mercury Systems (MRCY) reported Q4 2025 earnings on August 11, 2025 after market close.
What were Mercury Systems's Q4 2025 revenue and EPS?
Mercury Systems reported revenue of $211.4M and diluted EPS of $0.47 for Q4 2025.
Did Mercury Systems beat estimates in Q4 2025?
Revenue missed the consensus estimate of $214.8M by $3.4M. EPS beat the consensus estimate of $0.21 by $0.26.
How did Mercury Systems's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 15.0% from $248.6M a year earlier and diluted EPS grew 104.3% from $0.23.
Where can I find Mercury Systems's Q4 2025 SEC filings?
You can read the 10-K periodic report (0001049521-25-000024) directly on SEC EDGAR. The filing index links above go to sec.gov.