Mercury Systems Inc (MRCY)
Quick ratio
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 309,099 | 269,822 | 242,565 | 158,123 | 180,521 | 142,645 | 168,646 | 89,369 | 71,563 | 64,441 | 76,944 | 51,981 | 65,654 | 91,694 | 105,169 | 95,804 | 113,839 | 121,943 | 109,113 | 239,122 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 1,964 |
| Receivables | US$ in thousands | 388,063 | 374,694 | 383,148 | 422,816 | 415,470 | 417,226 | 433,740 | 480,003 | 507,287 | 502,284 | 479,346 | 494,705 | 447,850 | 367,075 | 320,128 | 301,198 | 291,728 | 263,981 | 240,198 | 207,823 |
| Total current liabilities | US$ in thousands | 300,377 | 296,564 | 273,533 | 232,794 | 234,416 | 207,569 | 225,721 | 205,318 | 233,264 | 220,158 | 200,575 | 182,006 | 193,927 | 182,805 | 163,672 | 167,324 | 150,823 | 162,669 | 211,853 | 146,606 |
| Quick ratio | 2.32 | 2.17 | 2.29 | 2.50 | 2.54 | 2.70 | 2.67 | 2.77 | 2.48 | 2.57 | 2.77 | 3.00 | 2.65 | 2.51 | 2.60 | 2.37 | 2.69 | 2.37 | 1.65 | 3.06 |
June 30, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($309,099K
+ $—K
+ $388,063K)
÷ $300,377K
= 2.32
The analysis of Mercury Systems Inc.'s quick ratio over the specified period indicates a generally stable liquidity position with a slight overall decline. At the end of September 2020, the quick ratio stood at 3.06, reflecting a robust short-term liquidity cushion, as the company had more than three times its current liabilities in liquid assets. Moving forward into December 2020, the quick ratio decreased significantly to 1.65, suggesting a reduction in liquidity or a change in the composition of liquid assets relative to current liabilities.
Between March and September 2021, the quick ratio demonstrated modest fluctuations, with values of 2.37 and 2.37 respectively, indicating a period of relative stability in liquidity levels. This trend continued into December 2021, with the ratio rising to 2.60, reflecting an improvement or accumulation of liquid assets.
During 2022, the quick ratios hovered around 2.51 to 2.77, maintaining strength above the generally accepted threshold of 1.0 for liquidity prudence, and suggesting that the company persisted in maintaining sufficient liquid assets relative to current liabilities throughout this period. The ratio peaked at 3.00 in September 2022, indicating particularly strong short-term liquidity at that point.
In 2023, the ratio experienced minor fluctuations but remained consistently above 2.5, with values of 2.57 in March, 2.48 in June, and 2.77 in September, maintaining a solid liquidity position. Into the first half of 2024, the ratio slightly declined but continued to stay within the 2.29 to 2.70 range, reflecting a stable but slightly decreasing liquidity cushion.
By the end of 2024 and into 2025, the quick ratio further decreased to 2.17 at the March 2025 mark, but then saw a modest recovery to 2.32 by June 2025. Overall, these figures indicate that Mercury Systems Inc. has maintained a consistently healthy quick ratio well above 1.0 throughout the analyzed period, demonstrating sufficient short-term liquidity for operational and financial stability, although some periods show a trend of gradual decline which warrants monitoring for potential future liquidity challenges.
Peer comparison
Jun 30, 2025