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Held by 335 of 5,944 reporting institutions (95th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $86.18 today, the market must believe free cash flow compounds 24.0%/yr for a decade (off $73M normalized FCF).
The market's 24.0% is more optimistic than its 9-yr track record.
2-stage DCF · 0.06B shares · net debt -$309M
mean 41.2% · volatility σ 171% · implied rate exceeded in 2/7 yrs
Central path = implied 24.0%/yr growth; shaded band = ±1σ (171%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $912.0M 100.0% | $835.3M 100.0% | $973.9M 100.0% | $988.2M 100.0% | $924.0M 100.0% | $796.6M 100.0% | $654.7M 100.0% | $493.2M 100.0% | $408.6M 100.0% | $270.2M 100.0% |
| Cost of Revenue | $657.5M 72.1% | $639.4M 76.5% | $657.2M 67.5% | $593.2M 60.0% | $538.8M 58.3% | $439.8M 55.2% | $368.6M 56.3% | $267.3M 54.2% | $217.0M 53.1% | $142.5M 52.8% |
| Gross Profit | $254.5M 27.9% | $195.9M 23.5% | $316.7M 32.5% | $395.0M 40.0% | $385.2M 41.7% | $356.8M 44.8% | $286.2M 43.7% | $225.9M 45.8% | $191.5M 46.9% | $127.6M 47.2% |
| Research & Development | $67.6M 7.4% | $101.3M 12.1% | $108.8M 11.2% | $107.2M 10.8% | $113.5M 12.3% | $98.5M 12.4% | $68.9M 10.5% | $58.8M 11.9% | $54.1M 13.2% | $36.4M 13.5% |
| Selling, General & Admin | $154.4M 16.9% | $166.8M 20.0% | $160.6M 16.5% | $157.0M 15.9% | $134.3M 14.5% | $132.3M 16.6% | $110.7M 16.9% | $88.4M 17.9% | $76.5M 18.7% | $53.0M 19.6% |
| Total Operating Expenses | $274.1M 30.1% | $343.7M 41.1% | $338.4M 34.7% | $363.3M 36.8% | $304.2M 32.9% | $265.8M 33.4% | $209.6M 32.0% | $178.9M 36.3% | $154.1M 37.7% | $103.6M 38.4% |
| Operating Income | -$19.6M -2.2% | -$147.8M -17.7% | -$21.7M -2.2% | $31.6M 3.2% | $81.0M 8.8% | $91.1M 11.4% | $76.6M 11.7% | $47.0M 9.5% | $37.4M 9.2% | $24.0M 8.9% |
| Interest Expense | $33.4M 3.7% | $35.0M 4.2% | $25.2M 2.6% | $5.8M 0.6% | $1.2M 0.1% | $1.0M 0.1% | $9.1M 1.4% | $2.9M 0.6% | $7.6M 1.9% | $1.2M 0.4% |
| Interest & Investment Income | $3.6M 0.4% | $1.2M 0.1% | $1.1M 0.1% | $143K 0.0% | $179K 0.0% | $2.2M 0.3% | $932K 0.1% | $32K 0.0% | $462K 0.1% | $131K 0.0% |
| Other Income (Expense), net | -$974K -0.1% | -$7.7M -0.9% | -$2.8M -0.3% | -$7.6M -0.8% | -$2.8M -0.3% | $1.7M 0.2% | -$8.9M -1.4% | -$1.6M -0.3% | $771K 0.2% | $2.4M 0.9% |
| Pretax Income | -$50.4M -5.5% | -$189.3M -22.7% | -$48.5M -5.0% | $18.4M 1.9% | $77.2M 8.4% | $93.9M 11.8% | $59.5M 9.1% | $42.6M 8.6% | $31.1M 7.6% | $25.3M 9.4% |
| Income Tax Expense | -$12.5M -1.4% | -$51.6M -6.2% | -$20.2M -2.1% | $7.1M 0.7% | $15.1M 1.6% | $8.2M 1.0% | $12.8M 1.9% | $1.7M 0.3% | $6.2M 1.5% | $5.5M 2.1% |
| Net Income | -$37.9M -4.2% | -$137.6M -16.5% | -$28.3M -2.9% | $11.3M 1.1% | $62.0M 6.7% | $85.7M 10.8% | $46.8M 7.1% | $40.9M 8.3% | $24.9M 6.1% | $19.7M 7.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.65 | $-2.38 | $-0.50 | $0.20 | $1.13 | $1.57 | $0.98 | $0.88 | $0.59 | $0.58 |
| EPS (Diluted) | $-0.65 | $-2.38 | $-0.50 | $0.20 | $1.12 | $1.56 | $0.96 | $0.86 | $0.58 | $0.56 |
| Weighted Avg Shares (Basic) | 58.7M | 57.7M | 56.6M | 55.5M | 55.1M | 54.5M | 47.8M | 46.7M | 42.0M | 34.2M |
| Weighted Avg Shares (Diluted) | 58.7M | 57.7M | 56.6M | 55.9M | 55.5M | 55.1M | 48.5M | 47.5M | 43.0M | 35.1M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
5/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $119M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -3%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $309M covers all $200M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2016-06-30 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Where each multiple sits in its own 9-yr range · 96th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 9-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2021 | FY2022 | FY2023 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 54.2 | 56.3 | 55.2 | 58.3 | 60.0 | 67.5 | 76.5 | 72.1 |
| Gross Profit | 45.8 | 43.7 | 44.8 | 41.7 | 40.0 | 32.5 | 23.5 | 27.9 |
| R&D | 11.9 | 10.5 | 12.4 | 12.3 | 10.8 | 11.2 | 12.1 | 7.4 |
| SG&A | 17.9 | 16.9 | 16.6 | 14.5 | 15.9 | 16.5 | 20.0 | 16.9 |
| Operating Income | 9.5 | 11.7 | 11.4 | 8.8 | 3.2 | -2.2 | -17.7 | -2.2 |
| Income Tax | 0.3 | 1.9 | 1.0 | 1.6 | 0.7 | -2.1 | -6.2 | -1.4 |
| Net Income | 8.3 | 7.1 | 10.8 | 6.7 | 1.1 | -2.9 | -16.5 | -4.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MRCY: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Ranked against 651 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTM | $29.49T | — | — | — | — | — | — | — | — | — | 160 |
| CAT | $371.6B | 42.5× | 29.7× | 5.5× | 4.3% | 33.8% | 13.1% | 41.7% | 15.4% | 2.7× | 3,616 |
| GE | $328.8B | 38.5× | — | 7.2× | 18.5% | — | 19.0% | 46.6% | 22.2% | — | 3,077 |
| RTX | $259.8B | 39.0× | 18.5× | 2.9× | 9.7% | — | 7.6% | 10.3% | 10.3% | 0.0× | 3,277 |
| BA | $199.4B | 79.4× | 40.2× | 2.2× | 34.5% | 4.8% | 2.5% | 41.0% | 3.3% | 10.0× | 2,435 |
| DE | $185.4B | 37.1× | — | 4.1× | -11.7% | — | 11.0% | 19.4% | 12.6% | — | 2,491 |
| ABBNY | $177.4B | 47.9× | 31.6× | 5.5× | 9.5% | 34.8% | 11.9% | 28.5% | 20.4% | 0.9× | 48 |
| UNP | $167.6B | 23.6× | 16.1× | 6.8× | 1.1% | — | 29.1% | 38.7% | 14.2% | 2.6× | 2,648 |
| ETN | $158.8B | 39.2× | — | 5.8× | 10.3% | 37.6% | 14.9% | 21.0% | 13.9% | — | 2,398 |
| HON | $131.2B | 28.1× | 16.1× | 3.5× | 7.8% | 36.9% | 12.6% | 34.0% | 9.8% | 3.6× | 2,694 |
| LMT | $123.2B | 25.0× | 16.1× | 1.6× | 5.6% | 10.2% | 6.7% | 74.6% | 17.7% | 2.5× | 2,807 |
| PH | $118.7B | 34.1× | 26.8× | 6.0× | -0.4% | 36.9% | 17.8% | 25.8% | 16.7% | 1.6× | 1,845 |
| ADP | $108.3B | 24.9× | — | 4.9× | 6.7% | 46.4% | 20.1% | 73.2% | 40.1% | — | 2,179 |
| GD | $96.2B | 23.0× | 16.9× | 1.8× | 10.1% | — | 8.0% | 16.4% | 12.5% | 1.3× | 2,123 |
| TT | $94.4B | 32.6× | 23.3× | 4.4× | 7.5% | — | 13.7% | 34.0% | 22.1% | 1.1× | 1,658 |
| VRT | $92.4B | 70.8× | 43.8× | 9.0× | 27.7% | 36.3% | 13.0% | 33.8% | 19.4% | 1.4× | 1,748 |
| PWR | $92.2B | 90.7× | 45.8× | 3.2× | 20.3% | 15.0% | 3.6% | 11.5% | 10.6% | 0.4× | 1,659 |
| JCI | $91.9B | 28.0× | — | 3.9× | 2.8% | 36.4% | 13.9% | 25.5% | 14.4% | — | 1,487 |
| HWM | $90.7B | 60.9× | 39.9× | 11.0× | 11.1% | — | 18.3% | 28.2% | 17.9% | 1.3× | 1,399 |
| CSX | $89.1B | 31.1× | 14.4× | 6.3× | -3.1% | — | 20.5% | 22.0% | 22.0% | — | 1,791 |
| MMM | $87.3B | 27.4× | 16.8× | 3.5× | 1.5% | 39.9% | 13.0% | 69.1% | 18.8% | 2.1× | 2,051 |
| WM | $86.0B | 31.8× | 12.1× | 3.4× | 14.2% | 40.4% | 10.7% | 27.1% | 25.3% | 0.1× | 2,262 |
| UPS | $85.0B | 15.3× | 9.5× | 1.0× | -2.6% | — | 6.3% | 34.3% | 13.8% | 2.2× | 2,025 |
| EMR | $83.0B | 36.5× | — | 4.6× | 3.0% | 52.8% | 12.7% | 11.3% | 6.9% | — | 2,112 |
| CTAS | $79.8B | 45.0× | 28.7× | 7.7× | 7.7% | 50.0% | 17.5% | 38.7% | 25.5% | 0.8× | 1,366 |
| MRCY | $5.1B | — | 76.5× | 5.6× | 9.2% | 27.9% | -4.2% | -2.6% | -2.6% | — | 335 |
Peers = companies sharing MRCY's sector (Industrials) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.