$2.4 B

MRCY Mkt cap, 04-Dec-2018

$144.1 M

Mercury Systems Revenue Q1, 2019
Mercury Systems Gross profit (Q1, 2019)61.6 M
Mercury Systems Gross profit margin (Q1, 2019), %42.7%
Mercury Systems Net income (Q1, 2019)7.5 M
Mercury Systems EBIT (Q1, 2019)13.8 M
Mercury Systems Cash, 30-Sep-201872.9 M
Mercury Systems EV2.5 B

Mercury Systems Revenue

Mercury Systems revenue was $493.18 m in FY, 2018 which is a 20.7% year over year increase from the previous period.

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Mercury Systems Revenue Breakdown

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Mercury Systems revenue breakdown by business segment: 65.4% from Sensor and Effector, 17.7% from C4I and 16.9% from Other

Mercury Systems revenue breakdown by geographic segment: 91.3% from U.S., 7.1% from Europe and 1.6% from Other

Mercury Systems Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

208.7m234.8m270.2m408.6m493.2m

Revenue growth, %

13%15%51%21%

Cost of goods sold

114.0m124.6m145.4m217.0m267.3m

Gross profit

94.7m110.2m124.8m191.5m225.9m

Gross profit Margin, %

45%47%46%47%46%

R&D expense

33.5m54.1m58.8m

General and administrative expense

53.0m76.5m88.4m

Operating expense total

86.5m154.1m178.9m

Depreciation and amortization

19.7m26.0m

EBIT

(7.4m)18.4m24.0m37.4m47.0m

EBIT margin, %

(4%)8%9%9%10%

Interest expense

49.0k34.0k1.2m7.6m2.9m

Interest income

9.0k21.0k131.0k462.0k32.0k

Pre tax profit

(5.9m)18.8m25.3m31.1m42.6m

Income tax expense

1.7m

Net Income

(11.4m)10.4m19.7m24.9m40.9m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Revenue

53.9m53.1m55.5m54.1m57.1m59.6m58.4m60.4m65.9m87.6m98.0m107.3m106.1m224.0m340.3m144.1m

Cost of goods sold

31.4m28.2m30.4m30.1m30.1m31.7m30.9m31.8m35.4m48.2m50.6m56.5m55.4m119.1m182.7m82.5m

Gross profit

22.6m24.9m25.1m24.0m27.0m27.9m27.5m28.6m30.5m39.4m47.4m50.8m50.7m104.8m157.6m61.6m

Gross profit Margin, %

42%47%45%44%47%47%47%47%46%45%48%47%48%47%46%43%

R&D expense

9.3m10.2m8.4m8.0m7.9m8.1m8.1m7.7m7.3m12.8m13.2m14.2m13.7m28.9m44.0m14.9m

General and administrative expense

15.1m14.8m13.1m12.3m12.7m11.8m12.1m12.6m12.7m17.5m19.3m19.2m20.6m41.8m62.9m24.7m

Operating expense total

26.5m27.0m26.9m23.3m23.5m21.8m24.4m22.2m23.7m35.7m38.4m39.1m40.3m83.6m129.5m47.8m

Depreciation and amortization

7.2m

EBIT

(4.0m)(2.1m)(1.8m)728.0k3.5m6.2m3.1m6.4m6.8m3.7m9.0m11.7m10.4m21.3m28.1m13.8m

EBIT margin, %

(7%)(4%)(3%)1%6%10%5%11%10%4%9%11%10%9%8%10%

Interest expense

15.0k11.0k11.0k8.0k8.0k7.0k2.0k5.0k3.0k1.8m1.9m1.9m3.0k110.0k1.1m2.3m

Interest income

1.0k3.0k2.0k3.0k4.0k6.0k24.0k26.0k39.0k40.0k10.0k137.0k19.0k22.0k14.0k66.0k

Pre tax profit

(3.5m)(1.6m)(1.4m)717.0k3.9m6.2m3.2m6.5m7.0m2.6m7.0m10.2m9.6m20.0m25.9m10.6m

Income tax expense

3.1m

Net Income

(2.3m)(1.0m)(578.0k)499.0k265.0k3.7m2.0m4.8m4.5m3.8m5.2m7.0m18.0m27.1m30.8m7.5m

Mercury Systems Balance Sheet

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

47.3m77.6m81.7m41.6m66.5m

Accounts Receivable

104.0m

Prepaid Expenses

9.1m

Inventories

3.6m8.7m58.3m81.1m108.6m

Current Assets

160.3m188.2m245.4m246.2m331.7m

PP&E

14.1m13.2m28.3m51.6m51.0m

Goodwill

168.1m168.1m344.0m380.8m497.4m

Total Assets

373.7m390.0m736.5m815.7m1.1b

Accounts Payable

7.1m6.9m26.7m27.5m21.3m

Short-term debt

Current Liabilities

32.9m33.3m67.6m72.8m71.7m

Long-term debt

195.0m

Total Debt

195.0m

Total Liabilities

263.5m90.3m292.6m

Common Stock

469.0k

Additional Paid-in Capital

241.7m254.6m357.5m584.8m590.2m

Retained Earnings

84.1m94.5m114.2m139.1m180.0m

Total Equity

327.1m350.1m473.0m725.4m771.9m

Debt to Equity Ratio

0.3 x

Debt to Assets Ratio

0.2 x

Financial Leverage

1.1 x1.1 x1.6 x1.1 x1.4 x

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Cash

40.1m44.5m45.7m48.9m57.0m66.5m79.1m81.6m84.2m77.3m46.2m270.2m26.1m32.0m44.2m72.9m

Accounts Receivable

113.9m

Prepaid Expenses

9.5m

Inventories

35.2m33.1m35.3m30.8m30.0m32.5m34.7m36.7m34.3m58.4m70.1m72.1m93.3m105.9m117.1m121.2m

Current Assets

145.3m144.5m151.0m166.1m179.0m187.8m200.9m199.0m206.6m232.0m224.8m448.4m252.0m268.9m313.2m364.2m

PP&E

14.6m16.1m15.2m13.3m13.0m12.4m13.5m13.3m13.5m31.4m39.4m47.4m51.6m51.6m51.3m50.8m

Goodwill

176.6m176.6m177.1m168.1m168.1m168.1m168.1m520.6m

Total Assets

370.9m369.7m373.6m377.0m385.4m389.2m401.4m408.1m414.8m722.2m755.3m981.4m822.6m835.8m1.1b1.1b

Accounts Payable

7.5m3.6m10.4m12.4m11.3m14.4m17.2m11.9m12.4m19.3m26.2m24.3m42.2m37.6m32.9m25.7m

Short-term debt

10.0m

Current Liabilities

27.4m24.3m33.0m34.1m39.5m40.7m42.8m41.4m42.0m56.2m68.5m73.4m75.3m74.3m79.3m82.8m

Long-term debt

180.2m180.7m176.1m195.0m240.0m

Total Debt

180.2m180.7m186.1m195.0m240.0m

Total Liabilities

41.7m38.9m41.3m46.5m51.2m48.6m48.8m46.6m47.0m247.6m270.6m270.0m88.3m86.6m301.2m350.4m

Common Stock

472.0k

Additional Paid-in Capital

234.6m237.3m239.3m244.6m248.2m251.0m255.1m259.1m260.8m355.2m360.5m579.9m575.7m581.5m584.9m587.8m

Retained Earnings

93.3m92.2m91.6m84.6m84.9m88.5m96.4m101.2m105.7m118.0m123.2m130.3m157.0m166.2m169.9m187.4m

Total Equity

329.2m330.8m332.3m330.4m334.2m340.7m352.6m361.5m367.7m474.5m484.7m711.4m734.3m749.2m755.8m776.6m

Debt to Equity Ratio

0.4 x0.4 x0.3 x0.3 x0.3 x

Debt to Assets Ratio

0.2 x0.2 x0.2 x0.2 x0.2 x

Financial Leverage

1.1 x1.1 x1.1 x1.1 x1.2 x1.1 x1.1 x1.1 x1.1 x1.5 x1.6 x1.4 x1.1 x1.1 x1.4 x1.5 x

Mercury Systems Cash Flow

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

(11.4m)10.4m19.7m24.9m40.9m

Depreciation and Amortization

7.3m7.0m8.8m32.3m42.3m

Accounts Receivable

(22.8m)

Inventories

3.7m(5.0m)3.0m(9.3m)(16.2m)

Accounts Payable

1.2m(475.0k)18.9m3.5m(5.3m)

Cash From Operating Activities

14.2m32.2m36.9m59.1m43.3m

Purchases of PP&E

(6.7m)(6.0m)(7.9m)(32.8m)(15.1m)

Cash From Investing Activities

(6.7m)(5.6m)(318.2m)(111.1m)(200.9m)

Long-term Borrowings

(15.0m)

Cash From Financing Activities

742.0k3.9m284.9m11.3m182.9m

Net Change in Cash

24.9m

Interest Paid

49.0k34.0k1.0m5.8m1.6m

Income Taxes Paid

3.2m7.9m8.0m2.8m17.0m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

(2.3m)(3.3m)(3.9m)499.0k764.0k4.4m2.0m6.8m11.3m3.8m9.0m16.1m18.0m27.1m30.8m7.5m

Depreciation and Amortization

4.1m8.0m11.9m3.6m7.2m10.4m3.3m6.6m9.9m7.3m15.2m23.1m9.3m18.9m30.3m11.5m

Accounts Receivable

(5.9m)

Inventories

2.3m4.3m2.1m859.0k1.6m(969.0k)(2.7m)(4.7m)(2.4m)(104.0k)(3.9m)(6.6m)(11.1m)(22.5m)(24.9m)(4.6m)

Accounts Payable

(2.7m)(6.5m)2.6m3.5m4.1m7.0m9.9m7.0m9.0m(7.4m)(1.9m)(566.0k)12.8m11.6m2.9m(2.0m)

Cash From Operating Activities

2.2m9.5m11.7m2.2m10.4m19.5m5.6m17.5m21.8m10.3m24.5m49.4m8.0m16.8m17.7m20.0m

Purchases of PP&E

(1.1m)(3.9m)(5.1m)(905.0k)(2.1m)(3.5m)(1.9m)(3.2m)(4.9m)(6.0m)(13.8m)(26.8m)(3.6m)(7.6m)(11.1m)(3.7m)

Cash From Investing Activities

(1.1m)(4.2m)(5.4m)(905.0k)(2.1m)(2.6m)(2.1m)(13.1m)(15.2m)(6.2m)(52.6m)(64.2m)(10.0m)(13.8m)(196.8m)(50.0m)

Cash From Financing Activities

(61.0k)240.0k324.0k392.0k1.5m2.4m(2.1m)(468.0k)(23.0k)(8.5m)(7.3m)203.5m(13.5m)(12.9m)181.9m36.3m

Net Change in Cash

6.3m

Interest Paid

15.0k26.0k38.0k8.0k16.0k23.0k2.0k7.0k10.0k1.4m2.8m4.3m3.0k111.0k1.1m3.4m

Income Taxes Paid

334.0k5.1m4.7m374.0k5.5m5.7m65.0k1.8m1.7m717.0k2.7m2.7m7.9m9.9m9.9m4.3m

Mercury Systems Ratios

USDY, 2018

EV/EBIT

183.9 x

EV/CFO

126.8 x

Revenue/Employee

109.1k

Debt/Equity

0.3 x

Debt/Assets

0.2 x

Financial Leverage

1.5 x
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Mercury Systems Employee Rating

4.2224 votes
Culture & Values
4.2
Work/Life Balance
3.7
Senior Management
4.1
Salary & Benefits
4.0
Career Opportunities
4.0
Source