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Forensic Analysis · Communications Equipment & Electronic Components · as of Nov 9, 2026

Mercury Systems Inc (MRCY)

A forensic read on Mercury Systems Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective
Forensic grade
Safe
Financial health
3.9
Distress distance
Clean
Earnings quality
1
Forensic signals
-2.0%
ROE
7.9%
Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Mercury Systems Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 3.9, placing it in the Safe zone. 1 forensic signal was flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

0.0%
FY2026
Return on invested capital. Return on invested capital is 0.0% in the latest fiscal year and rising across FY2024–FY2026 from -5.9%. After-tax operating profit was ($117M) in FY2024 and $221,200 in FY2026, with operating income at -17.7% of revenue in FY2024, -2.2% in FY2025 and 0.0% in FY2026. The capital base behind it went from $2.0B in FY2024 to $1.8B in FY2026 (-8%), while the revenue it carried went from $835M to $984M.

Key fundamentals

Latest Revenue$983.6M
Revenue Growth YoY+7.9%
Revenue CAGR (2yr)+8.5%
Net Margin-3.0%
Free Cash Flow$68.1M
Return on Equity-2.0%

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Data from SEC EDGAR public filings · metrics as of Nov 9, 2026. Forensic signals flag probability, not certainty.

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