Mercury Systems (MRCY)
Builds secure processing electronics and integrated subsystems for aerospace and defense missions.
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Sells RF, embedded computing, data-management, display, and security products from components through integrated subsystems for aerospace and defense missions. Revenue comes largely through defense prime contractors and government programs, tying results to program funding, production timing, and contract execution.
Supplies mission-critical processing hardware and integrated solutions for aerospace and defense systems. The Mercury Processing Platform spans Signal, Compute, Data Management, Display, and Secure technologies, from RF components through embedded boards, avionics computers, rugged servers, and software-enabled subsystems. Applications include radar and sensor processing, electronic warfare, weapons, mission computing, communications, and C4I.
Operates as one reportable segment, selling components, modules and subassemblies, and integrated solutions to defense primes, government customers, and commercial aerospace manufacturers. Its product and solutions models combine reusable, open-architecture building blocks with customer-specific development; domestic secure manufacturing and ruggedization address mission requirements. Most operations and revenue are U.S.-based. Nearly all sales ultimately serve government defense programs, making funding schedules, fixed-price execution, export controls, and limited-source electronic components structural dependencies.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 14, 2026 | Guggenheim | Initiate | Rating: —Target: — | Target: $115 |
| Aug 20, 2026 | Truist Financial | Target | Target: $109 | Target: $120 |
| Aug 20, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $106 | Target: $128 |
| Aug 19, 2026 | RBC Capital | Reiterate | Rating: —Target: $105 | Target: $120 |
| Aug 19, 2026 | Robert W. Baird | Target | Target: $37 | Target: $130 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 3, 2026Cash & short-term investments $214.3M · Total debt $500.9M · Total assets $2.32B · Shareholders' equity $1.50B
- Revenue
- $289.8M
- Operating income
- $17.0M
- Net income
- $798.0K
No dividends on record.
| Institutions | 110.16% | 66.24M shares | |
|---|---|---|---|
| 408 holders · as of Jun 30, 2026 | |||
| Insiders | 1.47% | 885.0K shares | |
| 14 holders · as of Sep 15, 2026 | |||
| Strategic holders | 7.83% | 4.71M shares | |
| 1 holder · as of Aug 22, 2023 | |||
| Adds to | 119.46% | ||
60.14M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 119.46%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 15.58% | 9.37M | as of Jun 30, 2026 |
Jana Partners LLCStrategicdirector | 7.83% | 4.71M | filed Aug 22, 2023 |
JANA Partners Management, LPInstitution | 6.58% | 3.96M | as of Jun 30, 2026 |
State Street CorpInstitution | 5.68% | 3.42M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.04% | 3.03M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 3, 2026 | Steven Ratner | officer: EVP, CHRO | −4,000 | $84.51 |
| Aug 26, 2026 | William L. Ballhaus | director, officer: Chairman, President & CEO | −49,090 | $89.10 |
| Aug 25, 2026 | William L. Ballhaus | director, officer: Chairman, President & CEO | −111,076 | $87.12 |
| Aug 21, 2026 | Steven Ratner | officer: EVP, CHRO | −356 | $91.36 |
| Aug 24, 2026 | William L. Ballhaus | director, officer: Chairman, President & CEO | −108,209 | $89.50 |
- Curtiss-Wright
Direct peer in OpenVPX mission computing and defense electronics
- AMETEK
Abaco brings direct COTS rugged embedded-compute overlap
- Leonardo DRS
Rugged mission-command computing and displays overlap Mercury
- L3Harris Technologies
Larger mission-systems rival in ISR, EW, avionics and sensors
- RTX
Collins and Raytheon overlap avionics, sensors and C2 systems
- Teledyne Technologies
Defense electronics and imaging overlap RF, radar and data capture
- HEICO
Niche RF, microwave and rugged embedded electronics overlap
- Crane
RF microwave, sensing and power electronics competitor
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mercury Systems | $84.26 | −1.63% | $5.14B | — | 54.6 | 5.2 | +6.1% |
| Curtiss-Wright | $552.85 | −2.67% | $20.98B | 39.1 | 34.4 | 5.7 | +5.4% |
| AMETEK | $245.29 | +1.68% | $55.29B | 35.3 | 28.0 | 7.0 | +15.0% |
| Leonardo DRS | $37.20 | −1.99% | $10.13B | 31.6 | 27.9 | 2.7 | +10.1% |
| L3Harris Technologies | $240.32 | −2.68% | $45.98B | 24.9 | 19.4 | 2.0 | +8.4% |
| RTX | $191.47 | −1.48% | $261.92B | 34.2 | 26.0 | 2.8 | +14.5% |
| Teledyne Technologies | $613.16 | +0.67% | $28.23B | 29.4 | 24.0 | 4.4 | +9.8% |
| HEICO | $308.50 | +1.81% | $42.22B | 50.5 | 44.8 | 8.2 | +23.1% |
| Crane | $201.82 | +1.43% | $11.49B | 34.7 | 27.5 | 4.4 | +25.6% |
| Median | 34.5 | 27.7 | 4.4 | +12.3% |