Mercury Systems Cash Flow Statement

Financials in millions USD. Fiscal year is July - June.

Millions USD. Fiscal year is Jul - Jun.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 26, 2025	Jun '25 Jun 27, 2025	Jun '24 Jun 28, 2024	Jun '23 Jun 30, 2023	Jul '22 Jul 1, 2022	Jul '21 Jul 2, 2021
Net Income	-30.41	-37.9	-137.64	-28.34	11.28	62.04
Depreciation & Amortization	77.1	82.03	88.03	97.33	93.42	67.08
Stock-Based Compensation	49.62	39.92	41.52	43.42	38.29	28.29
Provision & Write-off of Bad Debts	0.5	0.88	15.3	0.4	0.11	-
Other Operating Activities	-9.02	-14.17	-23.66	-54.8	-3.02	2.62
Change in Accounts Receivable	6.6	29.95	76.46	-58.72	-146.48	-51.98
Change in Inventory	-18.99	-17.09	0.13	-64.06	-40.9	-27.44
Change in Accounts Payable	94.87	8.1	0.74	-16.73	58.4	-6.32
Change in Unearned Revenue	-9.48	49.89	17.31	40.7	-19	13.73
Change in Income Taxes	-5.38	-4.39	-11.22	17.34	-3.97	5.78
Change in Other Net Operating Assets	-33.56	1.63	-6.59	2.2	-6.99	3.43
Operating Cash Flow	121.84	138.85	60.38	-21.25	-18.87	97.25
Operating Cash Flow Growth	-2.34%	129.95%	-	-	-	-15.57%
Capital Expenditures	-22.46	-19.8	-34.29	-38.8	-27.66	-45.6
Cash Acquisitions	-4.54	-4.54	-	-	-243.46	-372.83
Divestitures	6.25	6.25	-	-	-	-
Other Investing Activities	2.7	4.6	-	0.24	-3.2	1.54
Investing Cash Flow	-18.06	-13.5	-34.29	-38.56	-274.32	-416.89
Long-Term Debt Issued	-	-	105	140	251.5	200
Long-Term Debt Repaid	-	-	-25	-80	-	-
Net Debt Issued (Repaid)	-	-	80	60	251.5	200
Issuance of Common Stock	4.9	3.66	4.64	5.49	5.37	6.3
Repurchase of Common Stock	-15	-	-0.03	-0.06	-8.21	-0.07
Other Financing Activities	-3.16	-2.25	-1.93	-	-2.91	-
Financing Cash Flow	-13.26	1.41	82.68	65.43	245.75	206.23
Foreign Exchange Rate Adjustments	1.9	1.82	0.19	0.3	-0.75	0.41
Net Cash Flow	92.43	128.58	108.96	5.91	-48.19	-113
Free Cash Flow	99.38	119.05	26.09	-60.05	-46.53	51.65
Free Cash Flow Growth	2.79%	356.28%	-	-	-	-28.16%
Free Cash Flow Margin	10.54%	13.05%	3.12%	-6.17%	-4.71%	5.59%
Free Cash Flow Per Share	1.68	2.03	0.45	-1.06	-0.83	0.93
Cash Interest Paid	33.96	36.56	37.42	27.29	5.49	1.09
Cash Income Tax Paid	2.13	0.37	-9.32	24.24	14.12	8.98
Levered Free Cash Flow	111.77	162.49	90.62	6.61	-33.99	7.64
Unlevered Free Cash Flow	133.18	185.58	112.5	22.33	-30.36	8.4
Change in Working Capital	34.06	68.1	76.83	-79.27	-158.94	-62.79

Source: S&P Global Market Intelligence. Standard template. Financial Sources.