Intrinsic value of Mercury Systems - MRCY

Previous Close

$51.63

  Intrinsic Value

$1.80

stock screener

  Rating & Target

str. sell

-97%

  Value-price divergence*

-197%

Previous close

$51.63

 
Intrinsic value

$1.80

 
Up/down potential

-97%

 
Rating

str. sell

 
Value-price divergence*

-197%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MRCY stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2017(a)
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  51.48
  36.50
  33.35
  30.52
  27.96
  25.67
  23.60
  21.74
  20.07
  18.56
  17.20
  15.98
  14.89
  13.90
  13.01
  12.21
  11.49
  10.84
  10.25
  9.73
  9.26
  8.83
  8.45
  8.10
  7.79
  7.51
  7.26
  7.04
  6.83
  6.65
  6.48
Revenue, $m
  409
  558
  744
  972
  1,243
  1,562
  1,931
  2,351
  2,823
  3,347
  3,923
  4,550
  5,227
  5,953
  6,727
  7,549
  8,416
  9,328
  10,284
  11,284
  12,329
  13,417
  14,551
  15,730
  16,955
  18,229
  19,553
  20,928
  22,358
  23,844
  25,390
Variable operating expenses, $m
 
  489
  639
  822
  1,041
  1,299
  1,596
  1,935
  2,316
  2,738
  3,203
  3,671
  4,217
  4,803
  5,428
  6,091
  6,790
  7,526
  8,298
  9,105
  9,947
  10,826
  11,740
  12,691
  13,680
  14,708
  15,776
  16,886
  18,039
  19,239
  20,486
Fixed operating expenses, $m
 
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  5
  5
  5
  5
  6
  6
  6
  6
  6
  6
Total operating expenses, $m
  371
  492
  642
  825
  1,044
  1,302
  1,599
  1,939
  2,320
  2,742
  3,207
  3,675
  4,221
  4,807
  5,432
  6,095
  6,794
  7,531
  8,303
  9,110
  9,952
  10,831
  11,745
  12,696
  13,685
  14,714
  15,782
  16,892
  18,045
  19,245
  20,492
Operating income, $m
  37
  67
  103
  146
  199
  260
  331
  412
  503
  605
  716
  875
  1,006
  1,146
  1,295
  1,454
  1,621
  1,797
  1,982
  2,175
  2,376
  2,587
  2,805
  3,033
  3,270
  3,515
  3,771
  4,037
  4,313
  4,599
  4,898
EBITDA, $m
  69
  118
  159
  208
  267
  336
  417
  508
  610
  724
  849
  986
  1,133
  1,291
  1,459
  1,637
  1,826
  2,024
  2,232
  2,449
  2,676
  2,913
  3,159
  3,416
  3,682
  3,959
  4,247
  4,546
  4,856
  5,180
  5,516
Interest expense (income), $m
  6
  0
  2
  5
  8
  12
  16
  21
  27
  34
  41
  49
  58
  68
  78
  89
  101
  113
  126
  139
  153
  168
  183
  199
  216
  233
  251
  270
  289
  309
  330
Earnings before tax, $m
  31
  67
  100
  142
  191
  249
  315
  391
  476
  571
  674
  825
  947
  1,078
  1,217
  1,365
  1,520
  1,684
  1,856
  2,036
  2,223
  2,419
  2,622
  2,834
  3,054
  3,282
  3,520
  3,767
  4,024
  4,290
  4,568
Tax expense, $m
  6
  18
  27
  38
  52
  67
  85
  106
  129
  154
  182
  223
  256
  291
  329
  368
  411
  455
  501
  550
  600
  653
  708
  765
  825
  886
  950
  1,017
  1,086
  1,158
  1,233
Net income, $m
  25
  49
  73
  103
  139
  181
  230
  285
  348
  417
  492
  602
  691
  787
  888
  996
  1,110
  1,230
  1,355
  1,486
  1,623
  1,766
  1,914
  2,069
  2,229
  2,396
  2,570
  2,750
  2,937
  3,132
  3,335

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  42
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  816
  1,057
  1,410
  1,840
  2,355
  2,959
  3,658
  4,453
  5,346
  6,339
  7,429
  8,617
  9,899
  11,275
  12,741
  14,296
  15,939
  17,666
  19,477
  21,372
  23,350
  25,412
  27,558
  29,791
  32,112
  34,524
  37,031
  39,637
  42,345
  45,160
  48,088
Adjusted assets (=assets-cash), $m
  774
  1,057
  1,410
  1,840
  2,355
  2,959
  3,658
  4,453
  5,346
  6,339
  7,429
  8,617
  9,899
  11,275
  12,741
  14,296
  15,939
  17,666
  19,477
  21,372
  23,350
  25,412
  27,558
  29,791
  32,112
  34,524
  37,031
  39,637
  42,345
  45,160
  48,088
Revenue / Adjusted assets
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
  0.528
Average production assets, $m
  163
  223
  297
  388
  496
  623
  771
  938
  1,126
  1,335
  1,565
  1,815
  2,085
  2,375
  2,684
  3,012
  3,358
  3,722
  4,103
  4,502
  4,919
  5,354
  5,806
  6,276
  6,765
  7,273
  7,801
  8,350
  8,921
  9,514
  10,131
Working capital, $m
  173
  179
  238
  311
  398
  500
  618
  752
  903
  1,071
  1,255
  1,456
  1,673
  1,905
  2,153
  2,416
  2,693
  2,985
  3,291
  3,611
  3,945
  4,294
  4,656
  5,033
  5,426
  5,833
  6,257
  6,697
  7,155
  7,630
  8,125
Total debt, $m
  0
  34
  75
  126
  187
  258
  341
  434
  540
  657
  786
  926
  1,077
  1,239
  1,412
  1,596
  1,790
  1,994
  2,207
  2,431
  2,664
  2,908
  3,161
  3,424
  3,698
  3,983
  4,279
  4,586
  4,906
  5,238
  5,583
Total liabilities, $m
  90
  125
  166
  217
  278
  349
  432
  525
  631
  748
  877
  1,017
  1,168
  1,330
  1,503
  1,687
  1,881
  2,085
  2,298
  2,522
  2,755
  2,999
  3,252
  3,515
  3,789
  4,074
  4,370
  4,677
  4,997
  5,329
  5,674
Total equity, $m
  725
  933
  1,244
  1,623
  2,077
  2,610
  3,226
  3,927
  4,716
  5,591
  6,552
  7,600
  8,731
  9,944
  11,238
  12,610
  14,058
  15,581
  17,179
  18,850
  20,595
  22,413
  24,306
  26,275
  28,323
  30,451
  32,662
  34,960
  37,348
  39,831
  42,413
Total liabilities and equity, $m
  815
  1,058
  1,410
  1,840
  2,355
  2,959
  3,658
  4,452
  5,347
  6,339
  7,429
  8,617
  9,899
  11,274
  12,741
  14,297
  15,939
  17,666
  19,477
  21,372
  23,350
  25,412
  27,558
  29,790
  32,112
  34,525
  37,032
  39,637
  42,345
  45,160
  48,087
Debt-to-equity ratio
  0.000
  0.040
  0.060
  0.080
  0.090
  0.100
  0.110
  0.110
  0.110
  0.120
  0.120
  0.120
  0.120
  0.120
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
  0.130
Adjusted equity ratio
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882
  0.882

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  25
  49
  73
  103
  139
  181
  230
  285
  348
  417
  492
  602
  691
  787
  888
  996
  1,110
  1,230
  1,355
  1,486
  1,623
  1,766
  1,914
  2,069
  2,229
  2,396
  2,570
  2,750
  2,937
  3,132
  3,335
Depreciation, amort., depletion, $m
  32
  52
  56
  62
  68
  76
  85
  95
  107
  120
  134
  111
  127
  145
  164
  184
  205
  227
  250
  275
  300
  326
  354
  383
  413
  443
  476
  509
  544
  580
  618
Funds from operations, $m
  52
  100
  130
  165
  208
  258
  315
  381
  454
  536
  626
  713
  819
  932
  1,052
  1,180
  1,315
  1,456
  1,605
  1,761
  1,923
  2,092
  2,268
  2,451
  2,642
  2,840
  3,045
  3,259
  3,481
  3,712
  3,952
Change in working capital, $m
  -7
  48
  60
  73
  87
  102
  118
  134
  151
  168
  184
  201
  217
  232
  248
  263
  277
  292
  306
  320
  334
  348
  363
  377
  392
  408
  424
  440
  458
  476
  495
Cash from operations, $m
  59
  53
  70
  92
  121
  155
  197
  246
  303
  368
  442
  513
  602
  699
  804
  917
  1,037
  1,165
  1,299
  1,441
  1,589
  1,744
  1,906
  2,074
  2,250
  2,432
  2,622
  2,819
  3,024
  3,236
  3,458
Maintenance CAPEX, $m
  0
  -10
  -14
  -18
  -24
  -30
  -38
  -47
  -57
  -69
  -81
  -95
  -111
  -127
  -145
  -164
  -184
  -205
  -227
  -250
  -275
  -300
  -326
  -354
  -383
  -413
  -443
  -476
  -509
  -544
  -580
New CAPEX, $m
  -33
  -60
  -74
  -91
  -108
  -127
  -147
  -168
  -188
  -209
  -230
  -250
  -270
  -290
  -309
  -328
  -346
  -364
  -382
  -399
  -417
  -434
  -452
  -470
  -489
  -508
  -528
  -549
  -570
  -593
  -617
Cash from investing activities, $m
  -111
  -70
  -88
  -109
  -132
  -157
  -185
  -215
  -245
  -278
  -311
  -345
  -381
  -417
  -454
  -492
  -530
  -569
  -609
  -649
  -692
  -734
  -778
  -824
  -872
  -921
  -971
  -1,025
  -1,079
  -1,137
  -1,197
Free cash flow, $m
  -52
  -17
  -18
  -16
  -11
  -2
  12
  32
  58
  91
  130
  167
  221
  282
  351
  426
  508
  596
  691
  791
  897
  1,009
  1,127
  1,250
  1,378
  1,511
  1,650
  1,794
  1,944
  2,099
  2,261
Issuance/(repayment) of debt, $m
  16
  34
  42
  51
  61
  71
  82
  94
  105
  117
  129
  140
  151
  162
  173
  184
  194
  204
  214
  224
  233
  243
  253
  263
  274
  285
  296
  307
  320
  332
  346
Issuance/(repurchase) of shares, $m
  -4
  201
  238
  276
  315
  352
  386
  416
  441
  459
  470
  445
  440
  426
  405
  375
  338
  294
  243
  185
  122
  53
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  11
  235
  280
  327
  376
  423
  468
  510
  546
  576
  599
  585
  591
  588
  578
  559
  532
  498
  457
  409
  355
  296
  253
  263
  274
  285
  296
  307
  320
  332
  346
Total cash flow (excl. dividends), $m
  -40
  218
  261
  311
  364
  421
  480
  542
  604
  666
  729
  752
  812
  871
  929
  985
  1,040
  1,094
  1,147
  1,200
  1,252
  1,306
  1,380
  1,513
  1,652
  1,796
  1,946
  2,102
  2,264
  2,432
  2,606
Retained Cash Flow (-), $m
  -252
  -250
  -311
  -379
  -454
  -533
  -616
  -701
  -788
  -875
  -962
  -1,047
  -1,131
  -1,213
  -1,293
  -1,372
  -1,448
  -1,523
  -1,598
  -1,671
  -1,745
  -1,818
  -1,893
  -1,969
  -2,047
  -2,128
  -2,211
  -2,298
  -2,388
  -2,483
  -2,583
Prev. year cash balance distribution, $m
 
  42
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  10
  -50
  -69
  -90
  -112
  -136
  -160
  -184
  -209
  -233
  -295
  -319
  -342
  -365
  -387
  -409
  -430
  -451
  -471
  -492
  -513
  -513
  -456
  -396
  -332
  -265
  -196
  -125
  -51
  24
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  10
  -45
  -60
  -74
  -87
  -98
  -108
  -115
  -120
  -122
  -140
  -136
  -130
  -122
  -114
  -104
  -93
  -83
  -73
  -63
  -53
  -43
  -30
  -20
  -13
  -8
  -4
  -2
  -1
  0
Current shareholders' claim on cash, %
  100
  92.0
  85.6
  80.4
  76.0
  72.4
  69.4
  66.9
  64.7
  62.9
  61.4
  60.2
  59.2
  58.4
  57.7
  57.1
  56.7
  56.3
  56.1
  55.9
  55.8
  55.8
  55.8
  55.8
  55.8
  55.8
  55.8
  55.8
  55.8
  55.8
  55.8

Mercury Systems, Inc. is a commercial provider of secure processing subsystems designed and made in the United States. The Company's solutions support a range of defense and intelligence programs. Its technologies include embedded processing modules and subsystems, radio frequency (RF) and microwave multi-function assemblies, as well as subsystems, and RF and microwave components. It designs and builds RF and microwave components and subsystems for the electronic warfare (EW), signals intelligence (SIGINT) and other communications requirements and applications. It offers analyst services and systems engineering support, consulting, maintenance and other support, testing and installation. It designs, markets and sells software and middleware environments for the development and execution of signal and image processing applications on a range of heterogeneous and multi-computing platforms. It also offers solutions in mission computing, safety-critical avionics and platform management.

FINANCIAL RATIOS  of  Mercury Systems (MRCY)

Valuation Ratios
P/E Ratio 95.6
Price to Sales 5.8
Price to Book 3.3
Price to Tangible Book
Price to Cash Flow 40.5
Price to Free Cash Flow 91.9
Growth Rates
Sales Growth Rate 51.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 312.5%
Cap. Spend. - 3 Yr. Gr. Rate 36.4%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 6
Management Effectiveness
Return On Assets 3.8%
Ret/ On Assets - 3 Yr. Avg. 3.4%
Return On Total Capital 3.6%
Ret/ On T. Cap. - 3 Yr. Avg. 3.5%
Return On Equity 4.2%
Return On Equity - 3 Yr. Avg. 4%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 46.9%
Gross Margin - 3 Yr. Avg. 47.6%
EBITDA Margin 16.9%
EBITDA Margin - 3 Yr. Avg. 15.5%
Operating Margin 9.3%
Oper. Margin - 3 Yr. Avg. 8.8%
Pre-Tax Margin 7.6%
Pre-Tax Margin - 3 Yr. Avg. 8.3%
Net Profit Margin 6.1%
Net Profit Margin - 3 Yr. Avg. 5.9%
Effective Tax Rate 19.4%
Eff/ Tax Rate - 3 Yr. Avg. 21.9%
Payout Ratio 0%

MRCY stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MRCY stock intrinsic value calculation we used $409 million for the last fiscal year's total revenue generated by Mercury Systems. The default revenue input number comes from 2017 income statement of Mercury Systems. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MRCY stock valuation model: a) initial revenue growth rate of 36.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MRCY is calculated based on our internal credit rating of Mercury Systems, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Mercury Systems.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MRCY stock the variable cost ratio is equal to 90%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $3 million in the base year in the intrinsic value calculation for MRCY stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6.3% for Mercury Systems.

Corporate tax rate of 27% is the nominal tax rate for Mercury Systems. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MRCY stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MRCY are equal to 39.9%.

Life of production assets of 16.4 years is the average useful life of capital assets used in Mercury Systems operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MRCY is equal to 32%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $725 million for Mercury Systems - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 47.761 million for Mercury Systems is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Mercury Systems at the current share price and the inputted number of shares is $2.5 billion.

RELATED COMPANIES Price Int.Val. Rating
LLL L3 Technologie 187.57 123.79  sell
HRS Harris Corp. 135.61 65.34  sell
INTC Intel 40.09 40.54  hold
IBM International 160.90 172.25  hold
MSCC Microsemi 51.46 23.21  str.sell
NOC Northrop Grumm 292.65 393.02  buy
LMT Lockheed Marti 316.84 124.16  str.sell

COMPANY NEWS

▶ Gabelli & Companys Aerospace & Defense Conference   [Aug-24-17 07:00AM  Business Wire]
▶ Gabelli & Companys Aerospace & Defense Conference   [Aug-16-17 09:08AM  Business Wire]
▶ Mercury Systems tops Street 4Q forecasts   [12:50AM  Associated Press]
▶ Composite Rating For Mercury Systems Rises To 96   [May-02-17 10:44AM  Investor's Business Daily]
▶ Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks   [Apr-25-17 08:00PM  Investor's Business Daily]
▶ Mercury Systems tops Street 3Q forecasts   [04:54PM  Associated Press]
▶ Mercury Systems makes third big acquisition in the past year   [Apr-04-17 05:15PM  American City Business Journals]
▶ After-hours buzz: PRTK, MRCY, NVCR   [Apr-03-17 05:55PM  CNBC]
▶ Mercury Systems Acquires Delta Microwave   [04:01PM  GlobeNewswire]
Financial statements of MRCY
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

FREE DOWNLOAD
Follow us on:   twitter   twitter   twitter   twitter

VALUATION THEORY       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2017. All rigths reserved.