What is Mercury Systems's net debt?

Mercury Systems (MRCY) reported net debt of $308.04M in Q1 2026.

How has Mercury Systems's net debt changed year-over-year?

Mercury Systems's net debt decreased by 18.3% year-over-year, from $376.99M to $308.04M.

What is the long-term trend for Mercury Systems's net debt?

Over 4 years (2021 to 2025), Mercury Systems's net debt has grown at a 19.9% compound annual growth rate (CAGR), from $167.69M to $346.95M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Mercury Systems MRCY Net debt

Discontinued — last reported Q3 '26

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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$6.84B+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

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

Calculated from Mercury Systems’s reported figures.

$639.8Mtotal debt−$331.8Mcash and equivalents=$308.04M

The official record: Mercury Systems’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Mercury Systems's net debt?: Mercury Systems (MRCY) reported net debt of $308.04M in Q1 2026.
How has Mercury Systems's net debt changed year-over-year?: Mercury Systems's net debt decreased by 18.3% year-over-year, from $376.99M to $308.04M.
What is the long-term trend for Mercury Systems's net debt?: Over 4 years (2021 to 2025), Mercury Systems's net debt has grown at a 19.9% compound annual growth rate (CAGR), from $167.69M to $346.95M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.