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Mercury Systems MRCY Contract Assets

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Other financials

Income statement

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Revenue$235.8M+11.5%
Gross profit$69.1M+20.9%
Operating income$5.2M+130%
Net income-$2.9M+85.1%
EPS (diluted)-$0.04+87.9%

Balance sheet

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Cash & equivalents$331.8M+23.0%
Total debt$639.8M-1.1%
Total equity$1.5B+1.8%
Total assets$2.5B+2.8%

Cash flow

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Operating cash flow$6.4M-78.5%
CapEx$8.3M+39.7%
Free cash flow$45.7M-44.2%

Valuation

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Market cap$6.45B+100%
Enterprise value$6.76B+89.4%
P/S6.7×+3.1×

Profitability

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Gross margin28.7%+1.3pp
Operating margin-5.8%-2.3pp
Net margin-7.3%-2.6pp
FCF margin10.5%-0.4pp

Returns & leverage

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Return on equity-4.4%-1.5pp
Debt / equity0.4×0.0×
Current ratio3.2×-0.3×

Where this comes from

Reported directly by Mercury Systems in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerAssetNetCurrent.

The source filing: Mercury Systems’s 10-K, filed August 11, 2025.

Filed
Aug 11, 2025
Fiscal year
FY2025
Accession
0001049521-25-000024
Line itemJune 27, 2025June 28, 2024
Current assets:
Cash and cash equivalents$309,099$180,521
Accounts receivable, net of allowance for credit losses of $1,767 and $2,020 at June 27, 2025 and June 28, 2024, respectively109,588111,441
Unbilled receivables and costs in excess of billings, net of allowance for credit losses of $5,311 and $6,340 at June 27, 2025 and June 28, 2024, respectively278,475304,029
Inventory332,920335,300
Prepaid income taxes457
Prepaid expenses and other current assets27,63922,493
Total current assets1,058,178953,784

ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Mercury Systems's contract assets?
Mercury Systems (MRCY) reported contract assets of $278.48M in Q2 2025.
What is the long-term trend for Mercury Systems's contract assets?
Over 4 years (2021 to 2025), Mercury Systems's contract assets has grown at a 14.3% compound annual growth rate (CAGR), from $162.92M to $278.48M.
What does contract assets mean?
Revenue recognized under ASC 606 where the right to payment is conditional on something other than the passage of time — work performed but not yet billable.

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