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Mercury Systems MRCY Free cash flow margin

Free cash flow margin at other companies

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Curtiss-WrightCW
16.4%+1.2pp
Raytheon Technologies logo
Raytheon TechnologiesRTX
9.4%+2.8pp
Lockheed Martin logo
Lockheed MartinLMT
7.7%+0.8pp
Kratos Defense & Security Solutions logo
Kratos Defense & Security SolutionsKTOS
-9.4%
TTM Technologies logo
TTM TechnologiesTTMI
-0.7%
Northrop Grumman logo
Northrop GrummanNOC
7.8%+3.4pp

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$6.84B+70.1%
Enterprise value$7.15B+58.8%
P/S7.1×+2.5×

Profitability

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

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

Calculated from Mercury Systems’s reported figures.

Based on trailing twelve months.

The official record: Mercury Systems’s 10-Q, filed February 3, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mercury Systems's free cash flow margin?
Mercury Systems (MRCY) reported free cash flow margin of 10.5% in Q4 2025.
How has Mercury Systems's free cash flow margin changed year-over-year?
Mercury Systems's free cash flow margin decreased by 3.6% year-over-year, from 10.9% to 10.5%.
What is the long-term trend for Mercury Systems's free cash flow margin?
Over 3 years (2021 to 2025), Mercury Systems's free cash flow margin has grown at a 32.7% compound annual growth rate (CAGR), from 5.6% to 13.1%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.