Mercury Systems Inc (MRCY)
Operating profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | -19,627 | -51,145 | -79,457 | -120,971 | -147,754 | -148,684 | -101,074 | -54,692 | -21,295 | 15,220 | 30,245 | 37,405 | 38,634 | 33,423 | 38,156 | 56,656 | 81,001 | 85,014 | 89,644 | 92,356 |
| Revenue (ttm) | US$ in thousands | 912,020 | 887,477 | 884,377 | 858,715 | 835,275 | 839,948 | 895,169 | 927,294 | 973,882 | 1,010,375 | 999,971 | 990,763 | 988,197 | 949,310 | 953,092 | 943,388 | 923,996 | 890,531 | 841,690 | 824,927 |
| Operating profit margin | -2.15% | -5.76% | -8.98% | -14.09% | -17.69% | -17.70% | -11.29% | -5.90% | -2.19% | 1.51% | 3.02% | 3.78% | 3.91% | 3.52% | 4.00% | 6.01% | 8.77% | 9.55% | 10.65% | 11.20% |
June 30, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-19,627K ÷ $912,020K
= -2.15%
The operating profit margin of Mercury Systems Inc has experienced a significant decline over the analyzed period from September 30, 2020, through June 30, 2025. Initially, the company exhibited relatively healthy margins, with an operating profit margin of 11.20% as of September 30, 2020. This margin gradually decreased over the subsequent quarters, reaching 4.00% by December 31, 2021, and further declining to approximately 1.51% by March 31, 2023.
From the second quarter of 2023 onward, the operating profit margin turned negative, starting at -2.19% in June 2023, indicating the company was operating at a loss before interest and taxes. The deterioration intensified through September 2023, with the margin declining to -5.90%, and continued downward to -11.29% by December 2023. The declines persisted into the first half of 2024, with margins reaching as low as -17.70% in March 2024, reflecting a period of substantial operational challenges and losses.
Although there is some stabilization observed subsequently, with the margin improving to -8.98% in December 2024 and further to -5.76% in March 2025, the company has yet to regain positive operating profitability. As of June 30, 2025, the margin remains negative at -2.15%. Overall, the trend indicates a persistent decline in operating efficiency and profitability, shifting from healthy margins in 2020 to sustained operating losses in subsequent periods.
Peer comparison
Jun 30, 2025