Mercury Systems (MRCY)
Market Price (2/13/2026): $79.69 | Market Cap: $4.7 BilSector: Industrials | Industry: Electrical Components & Equipment
Mercury Systems (MRCY)
Market Price (2/13/2026): $79.69Market Cap: $4.7 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Weak multi-year price returns3Y Excs Rtn is -17% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 0.0% |
| Megatrend and thematic driversMegatrends include Cybersecurity, Artificial Intelligence, and Advanced Aviation & Space. Themes include Software Security, Show more. | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 39x | |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.7% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9% | ||
| Key risksMRCY key risks include [1] an inability to achieve sustained profitability, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Megatrend and thematic driversMegatrends include Cybersecurity, Artificial Intelligence, and Advanced Aviation & Space. Themes include Software Security, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -17% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -0.3 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 0.0% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 39x |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.7% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.9% |
| Key risksMRCY key risks include [1] an inability to achieve sustained profitability, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q1 Fiscal Year 2026 Results: Mercury Systems reported financial results for the first quarter of fiscal year 2026 on November 4, 2025, which exceeded analyst expectations. The company demonstrated solid year-over-year growth in its backlog, revenue, and adjusted EBITDA, indicating robust operational performance.
2. Authorization of a Share Repurchase Program: On November 3, 2025, Mercury Systems' Board of Directors authorized a new share repurchase program for up to $200 million of its outstanding common stock. This move can signal management confidence in the company's valuation and can be accretive to earnings per share, often positively influencing stock price.
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Stock Movement Drivers
Fundamental Drivers
The 3.7% change in MRCY stock from 10/31/2025 to 2/12/2026 was primarily driven by a 3.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 2122026 | Change |
|---|---|---|---|
| Stock Price ($) | 77.41 | 80.25 | 3.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 912 | 943 | 3.3% |
| P/S Multiple | 5.0 | 5.1 | 0.8% |
| Shares Outstanding (Mil) | 59 | 59 | -0.5% |
| Cumulative Contribution | 3.7% |
Market Drivers
10/31/2025 to 2/12/2026| Return | Correlation | |
|---|---|---|
| MRCY | 3.7% | |
| Market (SPY) | -0.1% | 41.9% |
| Sector (XLI) | 11.4% | 46.5% |
Fundamental Drivers
The 52.6% change in MRCY stock from 7/31/2025 to 2/12/2026 was primarily driven by a 45.3% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2122026 | Change |
|---|---|---|---|
| Stock Price ($) | 52.59 | 80.25 | 52.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 887 | 943 | 6.2% |
| P/S Multiple | 3.5 | 5.1 | 45.3% |
| Shares Outstanding (Mil) | 59 | 59 | -1.1% |
| Cumulative Contribution | 52.6% |
Market Drivers
7/31/2025 to 2/12/2026| Return | Correlation | |
|---|---|---|
| MRCY | 52.6% | |
| Market (SPY) | 8.1% | 44.1% |
| Sector (XLI) | 14.1% | 46.4% |
Fundamental Drivers
The 92.5% change in MRCY stock from 1/31/2025 to 2/12/2026 was primarily driven by a 78.8% change in the company's P/S Multiple.| (LTM values as of) | 1312025 | 2122026 | Change |
|---|---|---|---|
| Stock Price ($) | 41.69 | 80.25 | 92.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 859 | 943 | 9.8% |
| P/S Multiple | 2.8 | 5.1 | 78.8% |
| Shares Outstanding (Mil) | 58 | 59 | -1.9% |
| Cumulative Contribution | 92.5% |
Market Drivers
1/31/2025 to 2/12/2026| Return | Correlation | |
|---|---|---|
| MRCY | 92.5% | |
| Market (SPY) | 14.2% | 28.0% |
| Sector (XLI) | 26.1% | 32.8% |
Fundamental Drivers
The 60.5% change in MRCY stock from 1/31/2023 to 2/12/2026 was primarily driven by a 79.3% change in the company's P/S Multiple.| (LTM values as of) | 1312023 | 2122026 | Change |
|---|---|---|---|
| Stock Price ($) | 49.98 | 80.25 | 60.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 991 | 943 | -4.9% |
| P/S Multiple | 2.8 | 5.1 | 79.3% |
| Shares Outstanding (Mil) | 56 | 59 | -5.9% |
| Cumulative Contribution | 60.5% |
Market Drivers
1/31/2023 to 2/12/2026| Return | Correlation | |
|---|---|---|
| MRCY | 60.5% | |
| Market (SPY) | 73.8% | 30.3% |
| Sector (XLI) | 77.0% | 36.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRCY Return | -37% | -19% | -18% | 15% | 74% | 10% | -9% |
| Peers Return | 5% | -6% | 32% | 26% | 66% | 15% | 217% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| MRCY Win Rate | 42% | 58% | 42% | 50% | 58% | 50% | |
| Peers Win Rate | 50% | 40% | 58% | 68% | 62% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| MRCY Max Drawdown | -49% | -26% | -30% | -28% | -6% | 0% | |
| Peers Max Drawdown | -14% | -20% | -8% | -10% | -10% | -0% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CW, HEI, KTOS, TDY, LHX. See MRCY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/12/2026 (YTD)
How Low Can It Go
| Event | MRCY | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -64.2% | -25.4% |
| % Gain to Breakeven | 179.6% | 34.1% |
| Time to Breakeven | 927 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -34.0% | -33.9% |
| % Gain to Breakeven | 51.4% | 51.3% |
| Time to Breakeven | 37 days | 148 days |
| 2018 Correction | ||
| % Loss | -41.2% | -19.8% |
| % Gain to Breakeven | 70.2% | 24.7% |
| Time to Breakeven | 121 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -84.5% | -56.8% |
| % Gain to Breakeven | 544.3% | 131.3% |
| Time to Breakeven | 710 days | 1,480 days |
Compare to CW, HEI, KTOS, TDY, LHX
In The Past
Mercury Systems's stock fell -64.2% during the 2022 Inflation Shock from a high on 1/1/2021. A -64.2% loss requires a 179.6% gain to breakeven.
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About Mercury Systems (MRCY)
AI Analysis | Feedback
- Mercury Systems is like the Intel Inside for advanced military and aerospace computing systems.
- Mercury Systems is like a specialized NVIDIA for ruggedized defense and radar processing applications.
AI Analysis | Feedback
- Mission Computing Solutions: Provides rugged, high-performance, and secure embedded computing systems for aerospace and defense applications.
- RF and Microwave Subsystems: Delivers advanced radio frequency, microwave, and millimeter-wave components and subsystems for electronic warfare, radar, and communications.
- Sensor and Digital Processing: Offers high-speed digital signal processing and general-purpose processing modules for critical sensor data acquisition and analysis.
- Secure Processing Solutions: Develops trusted, embedded security technologies to protect critical data and systems in defense computing environments.
AI Analysis | Feedback
Mercury Systems (MRCY) sells primarily to other companies and directly to the U.S. government, not to individuals. Its advanced processing, RF/microwave, and trusted mission-critical capabilities are integrated into larger platforms and systems within the defense and aerospace sectors.
Its major customers include:
- The U.S. Government (as a direct customer for certain programs and as the ultimate end-user through prime contractors)
- Major defense prime contractors, which utilize Mercury Systems' technologies in their defense systems and platforms. These include, but are not limited to:
- Lockheed Martin (Symbol: LMT)
- RTX Corporation (Symbol: RTX)
- Northrop Grumman (Symbol: NOC)
- Boeing (Symbol: BA)
- General Dynamics (Symbol: GD)
- L3Harris Technologies (Symbol: LHX)
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William L. Ballhaus, Chairman & Chief Executive Officer
William L. Ballhaus was appointed Chairman and Chief Executive Officer of Mercury Systems in 2023, having served as interim President and CEO since June 2023. He has extensive experience across the aerospace, defense, and technology sectors, including multiple CEO roles. Prior to joining Mercury, he was Chairman and CEO of Blackboard Inc., an EdTech company, from 2016 until its merger with Anthology in 2021. He also served as CEO and President of SRA International, Inc. from 2011 to 2015, leading its merger with CSC's federal business to create CSRA. From 2008 to 2010, he was CEO and President of DynCorp International. Mr. Ballhaus has held senior leadership positions at BAE Systems, Boeing, and Hughes. He founded MilestoneRoad Partners, a business consulting firm, in 2021. He also serves as a senior advisor at PSG, a private equity firm focused on the software industry, and as Executive Chairman at Catalis and Elite, and on the Board of Directors of Qmulos, which are private company boards.
David Farnsworth, Executive Vice President & Chief Financial Officer
David Farnsworth was appointed Executive Vice President and Chief Financial Officer of Mercury Systems in July 2023, bringing decades of experience as a financial executive in the defense technology sector. Before Mercury Systems, he served as CFO of HawkEye 360 from April 2020 to July 2023. Prior to that, Mr. Farnsworth held several leadership positions at Raytheon from 2007 to April 2020, including Vice President and CFO of its Integrated Defense Systems business, CFO of its Intelligence, Information and Services segment, and CFO of its Technical Services business.
Stuart Kupinsky, Executive Vice President & Chief Legal Officer
Stuart Kupinsky serves as Mercury's Executive Vice President and Chief Legal Officer, overseeing the company's legal strategy, including M&A, intellectual property, and enterprise contracts. His previous roles include Chief Legal Officer and General Counsel for several public and private technology companies, such as Blackboard Inc., through its sale to Anthology Inc., and Tekelec, Inc., which was sold to Oracle. He also served as Chief Counsel for FirstNet, a government agency, and as a trial attorney for the U.S. Department of Justice.
Steve Ratner, Executive Vice President & Chief Human Resources Officer
Steve Ratner joined Mercury Systems as Senior Vice President and Chief Human Resources Officer in May 2022, bringing over 20 years of human resources leadership experience. Before Mercury, he was Vice President of Human Resources for Raytheon Missiles & Defense, and earlier, Vice President of Human Resources and Security at Raytheon Integrated Defense Systems.
Tod Brindlinger, Senior Vice President, Operations
Tod Brindlinger was appointed Senior Vice President of Operations at Mercury Systems in June 2024. He possesses over 30 years of leadership experience in various areas including business development, operations, engineering, supply chain, and quality. Most recently, he served as Vice President of Global Operations, Quality, and Supply Chain in L3Harris Technologies' Commercial Aerospace Sector. His career also includes executive positions at Paradigm Precision, Ducommun, and United Technologies Corporation.
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Here are the key risks to Mercury Systems (MRCY):- Reliance on U.S. Government Defense Spending and Contracts: Mercury Systems is highly dependent on defense electronics programs funded by the U.S. government, making it vulnerable to potential termination, reductions, and delays in government spending. The company also faces significant risks associated with the execution of contracts, particularly fixed-price development programs, which have historically led to margin pressure and financial losses.
- Financial Vulnerabilities and Challenges in Achieving Consistent Profitability: Despite experiencing revenue growth, Mercury Systems has reported net losses for multiple consecutive years, highlighting ongoing difficulties in achieving sustained profitability. The company's operational expenses, including restructuring charges, have further strained its margins. Additionally, past allegations of improper revenue recognition practices and financial misrepresentation have led to shareholder lawsuits, raising concerns about financial transparency and stability.
- Highly Competitive Market and Rapid Technological Changes: Mercury Systems operates within a intensely competitive aerospace and defense market, characterized by rapid technological advancements and evolving industry standards. To maintain its competitive edge against larger competitors with greater resources, the company must continuously invest in research and development to innovate and adapt to new customer demands.
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The increasing penetration of hyperscale commercial cloud computing, artificial intelligence (AI), and advanced data analytics platforms (e.g., from AWS, Microsoft Azure, Google Cloud) into defense systems, including tactical edge applications, poses an emerging threat. While Mercury Systems specializes in rugged, secure, and SWaP-optimized (Size, Weight, and Power) embedded processing solutions for mission-critical aerospace and defense environments, the Department of Defense's push for initiatives like Joint All-Domain Command and Control (JADC2) emphasizes cloud-like architectures and the rapid deployment of AI/ML capabilities. If hyperscale providers or their partners can adapt their commercial off-the-shelf (COTS) technologies to meet defense requirements for security, ruggedization, and performance at the tactical edge—potentially offering faster innovation cycles and lower costs—it could disrupt demand for Mercury's highly specialized and often custom-engineered hardware and software solutions by shifting procurement priorities and architectural paradigms.
AI Analysis | Feedback
Mercury Systems (MRCY) operates within the aerospace and defense industry, providing mission-critical processing power, open-architecture computer hardware and software, secure embedded processing modules and subsystems, avionics mission computers and displays, rugged secure computer servers, and trusted microelectronics components.
The company estimates its overall addressable market to be approximately $40 billion, primarily within the defense electronics systems sector.
More specifically, the addressable markets for Mercury Systems' main products and services are sized as follows:
- Defense Cybersecurity: Projected to reach $43.54 billion by 2027, with an annual growth rate of 9.2%. The market for this segment is likely global, with a significant focus on U.S. and allied defense sectors.
- Secure Computing Solutions: Expected to reach $22.7 billion by 2027, with a 12.5% annual growth rate. This market primarily serves the defense sector, indicating a global or U.S./allied nations scope.
- AI and Machine Learning Defense Market: Anticipated to reach $32.4 billion by 2026, offering substantial opportunities in embedded computing solutions. This market largely pertains to the defense sector, implying a global or U.S./allied nations focus.
- Military Satellite Communication Market: The global satellite communication market is projected to reach $77.6 billion by 2028, with military satellite communications experiencing a 6.5% compound annual growth rate. The military satellite technology market was valued at $22.3 billion in 2023.
- Quantum Computing Defense Market: Expected to reach $8.6 billion by 2026. This market primarily serves the defense sector, suggesting a global or U.S./allied nations scope.
- Edge Computing: Projected to reach $61.14 billion by 2028. While broader than defense, Mercury Systems' participation would be within the defense applications of this technology, implying a global or U.S./allied nations focus.
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Here are 3-5 expected drivers of future revenue growth for Mercury Systems (MRCY) over the next 2-3 years:- Record Backlog and Accelerated Deliveries: Mercury Systems has consistently reported a robust and growing backlog, which provides a strong foundation for future revenue. In Q1 FY26, the company achieved a record backlog of $1.4 billion, demonstrating solid demand for its products and services. Management has also highlighted its ability to accelerate deliveries on high-priority customer programs, effectively pulling revenue forward and contributing to immediate growth.
- Favorable Defense Market Dynamics: The company anticipates benefiting from potential tailwinds stemming from rising global defense budgets and domestic initiatives, such as Golden Dome. Mercury Systems has already experienced significant growth in its European defense business, with a reported 15% increase in direct and indirect European defense business over the past year. This expanding market, driven by geopolitical factors and modernization efforts, is expected to fuel continued demand for Mercury's mission-critical technologies.
- Operational Excellence and Capacity Expansion: Mercury Systems is focused on enhancing operational efficiencies, including increased automation and the expansion of its Phoenix facility. These initiatives are part of a broader "performance excellence" strategy aimed at streamlining operations, reducing working capital, and optimizing factory capacity. By improving execution and capacity, the company aims to enhance profitability and its ability to take on and fulfill more contracts, thereby driving revenue growth.
- Strategic Partnerships and New Contract Wins: The company's strategy includes securing strategic agreements and new defense contract wins. Recent examples include two key deals with a European defense contractor to accelerate the output of radar and electronic subsystems. Such partnerships and successful contract acquisitions expand Mercury's market reach and integrate its technology into crucial defense programs, providing significant revenue streams.
- Continuous Innovation in Mission-Critical Processing Technologies: Mercury Systems positions itself as a technology company delivering mission-critical processing at the edge, offering innovative capabilities from silicon to system scale. The company's focus on its Common Processing Architecture (CPA) and strong momentum in mission computing and processing technologies underscores its commitment to ongoing development. This continuous innovation ensures that Mercury's products remain essential for advanced aerospace and defense missions, leading to sustained demand and new opportunities within its broad portfolio, which is deployed in over 300 programs across 35 countries.
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Capital Allocation Decisions for Mercury Systems (MRCY) (Last 3-5 Years)
Share Repurchases
- On November 4, 2025, Mercury Systems' Board of Directors authorized a new share repurchase program of up to $200 million with no expiration date.
- For fiscal year 2025, the company had no active share repurchase programs.
- In June 2020, Mercury Systems executed approximately $652.32 thousand in stock buybacks.
Share Issuance
- On November 5, 2025, Mercury Systems filed to register 1,900,000 shares of common stock for issuance under its 2025 Long Term Incentive Plan.
- During the second quarter of fiscal year 2025 (ending December 27, 2024), the company issued approximately $4.86 million in common stock under employee stock incentive plans, an employee stock purchase plan, and a defined contribution plan.
- In fiscal year 2025, there were no net share settlements of common stock related to covering minimum taxes on restricted stock vesting.
Inbound Investments
- In February 2023, Cobham, a company backed by private equity firm Advent International, was reported to be considering the acquisition of Mercury Systems.
Outbound Investments
- In December 2020, Mercury Systems acquired Physical Optics Corporation (POC) for $310 million.
- In May 2021, the company acquired Pentek for $65.0 million.
- In November 2021, Mercury Systems completed the acquisitions of Avalex Technologies Corporation and Atlanta Micro, Inc.
Capital Expenditures
- For fiscal year 2025, capital expenditures for property and equipment totaled $19.9 million.
- In the first quarter of fiscal year 2026 (ending September 26, 2025), Mercury Systems is making incremental investments in capital expenditures to expand production lines at its Phoenix factory, focusing on meeting anticipated demand for its Common Processing Architecture program.
- In fiscal year 2020, the company made a $15 million capital investment to expand its trusted custom microelectronics business in Phoenix, Arizona, aimed at integrating cutting-edge commercial silicon for the Department of Defense.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 334.17 |
| Mkt Cap | 27.5 |
| Rev LTM | 3,992 |
| Op Inc LTM | 829 |
| FCF LTM | 708 |
| FCF 3Y Avg | 553 |
| CFO LTM | 789 |
| CFO 3Y Avg | 615 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.7% |
| Rev Chg 3Y Avg | 9.9% |
| Rev Chg Q | 10.8% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Mgn LTM | 14.0% |
| Op Mgn 3Y Avg | 13.5% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 16.3% |
| CFO/Rev 3Y Avg | 14.8% |
| FCF/Rev LTM | 14.0% |
| FCF/Rev 3Y Avg | 12.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 27.5 |
| P/S | 6.1 |
| P/EBIT | 32.9 |
| P/E | 45.4 |
| P/CFO | 32.5 |
| Total Yield | 1.8% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.7% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -3.6% |
| 3M Rtn | 19.6% |
| 6M Rtn | 23.0% |
| 12M Rtn | 74.0% |
| 3Y Rtn | 79.0% |
| 1M Excs Rtn | -1.7% |
| 3M Excs Rtn | 13.4% |
| 6M Excs Rtn | 16.4% |
| 12M Excs Rtn | 57.0% |
| 3Y Excs Rtn | 15.7% |
Comparison Analyses
Price Behavior
| Market Price | $80.25 | |
| Market Cap ($ Bil) | 4.8 | |
| First Trading Date | 01/30/1998 | |
| Distance from 52W High | -22.1% | |
| 50 Days | 200 Days | |
| DMA Price | $83.64 | $67.68 |
| DMA Trend | up | up |
| Distance from DMA | -4.1% | 18.6% |
| 3M | 1YR | |
| Volatility | 64.7% | 52.5% |
| Downside Capture | 315.59 | 114.98 |
| Upside Capture | 363.27 | 157.49 |
| Correlation (SPY) | 42.4% | 29.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 3.46 | 3.27 | 2.35 | 2.59 | 0.78 | 0.96 |
| Up Beta | 1.44 | 1.98 | 0.66 | 2.24 | 0.53 | 0.77 |
| Down Beta | 3.31 | 2.96 | 2.38 | 2.85 | 0.49 | 0.65 |
| Up Capture | 703% | 650% | 404% | 460% | 236% | 190% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 12 | 22 | 30 | 68 | 137 | 375 |
| Down Capture | 171% | 199% | 213% | 179% | 93% | 106% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 18 | 30 | 56 | 112 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRCY | |
|---|---|---|---|---|
| MRCY | 68.8% | 52.5% | 1.18 | - |
| Sector ETF (XLI) | 26.0% | 19.2% | 1.08 | 35.1% |
| Equity (SPY) | 13.6% | 19.4% | 0.53 | 29.1% |
| Gold (GLD) | 70.2% | 25.2% | 2.08 | 15.0% |
| Commodities (DBC) | 5.5% | 16.8% | 0.15 | 14.1% |
| Real Estate (VNQ) | 5.4% | 16.6% | 0.14 | 17.0% |
| Bitcoin (BTCUSD) | -29.6% | 44.7% | -0.65 | 24.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRCY | |
|---|---|---|---|---|
| MRCY | 1.0% | 45.6% | 0.17 | - |
| Sector ETF (XLI) | 15.9% | 17.2% | 0.75 | 36.8% |
| Equity (SPY) | 13.4% | 17.0% | 0.62 | 33.2% |
| Gold (GLD) | 21.8% | 17.0% | 1.05 | 11.1% |
| Commodities (DBC) | 10.8% | 18.9% | 0.45 | 10.6% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 26.4% |
| Bitcoin (BTCUSD) | 12.1% | 57.9% | 0.43 | 15.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRCY | |
|---|---|---|---|---|
| MRCY | 15.9% | 43.5% | 0.49 | - |
| Sector ETF (XLI) | 15.1% | 19.8% | 0.67 | 45.8% |
| Equity (SPY) | 15.4% | 17.9% | 0.74 | 43.5% |
| Gold (GLD) | 15.2% | 15.6% | 0.81 | 5.7% |
| Commodities (DBC) | 8.0% | 17.6% | 0.37 | 13.6% |
| Real Estate (VNQ) | 6.1% | 20.7% | 0.26 | 35.3% |
| Bitcoin (BTCUSD) | 67.5% | 66.7% | 1.07 | 12.3% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/3/2026 | |||
| 11/4/2025 | 3.3% | -3.9% | -6.8% |
| 5/6/2025 | -4.9% | -7.3% | 3.2% |
| 2/4/2025 | 18.5% | 11.1% | 4.1% |
| 11/5/2024 | 23.5% | 27.6% | 12.2% |
| 8/13/2024 | 17.6% | 13.9% | 8.3% |
| 5/7/2024 | -1.2% | -0.6% | 3.6% |
| 2/6/2024 | -11.4% | -0.7% | 1.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 9 | 12 |
| # Negative | 11 | 13 | 10 |
| Median Positive | 7.0% | 9.2% | 6.4% |
| Median Negative | -11.4% | -5.8% | -6.7% |
| Max Positive | 23.5% | 27.6% | 22.4% |
| Max Negative | -17.8% | -13.4% | -21.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/03/2026 | 10-Q |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-K |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/04/2025 | 10-Q |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-K |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/06/2024 | 10-Q |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/15/2023 | 10-K |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/16/2022 | 10-K |
| 03/31/2022 | 05/10/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Munro, Douglas | SVP, CAO | Direct | Sell | 11132025 | 73.42 | 1,329 | 97,570 | 1,077,599 | Form |
| 2 | Jana, Partners Management, Lp | See footnote | Sell | 11102025 | 75.45 | 1,000,000 | 75,450,000 | 374,735,629 | Form | |
| 3 | Plunkett, Debora A | Direct | Sell | 11102025 | 73.99 | 1,700 | 125,784 | 1,245,484 | Form | |
| 4 | Munro, Douglas | VP, CAO | Direct | Sell | 9172025 | 73.40 | 67 | 4,918 | 1,174,981 | Form |
| 5 | Ratner, Steven | EVP, CHRO | Direct | Sell | 8252025 | 63.76 | 7,000 | 446,312 | 2,155,115 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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