Mercury Systems Inc (MRCY)
Pretax 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | -50,424 | -87,842 | -123,241 | -162,659 | -189,275 | -185,498 | -133,571 | -82,920 | -48,542 | -11,189 | 342 | 10,619 | 18,395 | 16,927 | 31,683 | 51,596 | 77,173 | 83,102 | 91,033 | 94,700 |
| 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 |
| Pretax margin | -5.53% | -9.90% | -13.94% | -18.94% | -22.66% | -22.08% | -14.92% | -8.94% | -4.98% | -1.11% | 0.03% | 1.07% | 1.86% | 1.78% | 3.32% | 5.47% | 8.35% | 9.33% | 10.82% | 11.48% |
June 30, 2025 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-50,424K ÷ $912,020K
= -5.53%
The pretax margin of Mercury Systems Inc. has exhibited a pronounced declining trend over the analyzed period. As of September 30, 2020, the company’s pretax margin stood at approximately 11.48%, indicating a profitable core operation before taxes. However, this margin has experienced a consistent contraction over the subsequent quarters and years. By December 31, 2021, the margin decreased significantly to 3.32%. The downward trajectory persisted, culminating in a near breakeven point of approximately 0.03% on December 31, 2022 and turning negative thereafter. As of March 31, 2023, the pretax margin declined to around -1.11%, reflecting the onset of pre-tax losses. The negative trend continued through subsequent intervals, with the margin reaching approximately -22.66% by June 30, 2024, and sustaining negative territory through September 2024. The lowest recorded value within this period was approximately -22.66%, indicating substantial pre-tax losses. Although there has been a slight improvement in the most recent period (June 30, 2025) with the margin improving to approximately -5.53%, the company remains unprofitable on a pretax basis. Overall, the data illustrate a significant deterioration in Mercury Systems Inc.'s pre-tax profitability over the analyzed timeframe, shifting from a profitable margin in 2020 to substantial pre-tax losses in the latter reporting periods.
Peer comparison
Jun 30, 2025