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MERCURY SYSTEMS INC（MRCY）与UNIVERSAL DISPLAY CORP \PA\（OLED）财务数据对比。点击上方公司名可切换其他公司
MERCURY SYSTEMS INC的季度营收约是UNIVERSAL DISPLAY CORP \PA\的1.3倍（$232.9M vs $172.9M）。UNIVERSAL DISPLAY CORP \PA\净利率更高（38.4% vs -6.5%，领先44.8%）。UNIVERSAL DISPLAY CORP \PA\同比增速更快（6.6% vs 4.4%）。MERCURY SYSTEMS INC自由现金流更多（$45.7M vs $15.1M）。过去两年MERCURY SYSTEMS INC的营收复合增速更高（5.7% vs 2.3%）
Mercury Systems是一家服务于航空航天与国防领域的科技企业，专注于设计、研发及生产开放式架构计算机软硬件产品，覆盖安全嵌入式处理模块与子系统、航电任务计算机及显示器、加固型安全服务器、可信微电子组件与子系统等多类产品。
Universal Display Corporation（股票代码OLED）是有机发光二极管（OLED）技术及材料的研发与生产企业，拥有深厚的技术积累，面向显示、照明两大领域提供相关配套服务，是全球OLED上游产业链的核心供应商之一。
MRCY vs OLED — 直观对比
营收规模更大
MRCY
是对方的1.3倍
$172.9M
营收增速更快
OLED
高出2.2%
4.4%
净利率更高
OLED
高出44.8%
-6.5%
自由现金流更多
MRCY
多$30.6M
$15.1M
两年增速更快
MRCY
近两年复合增速
2.3%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $232.9M | $172.9M |
| 净利润 | $-15.1M | $66.3M |
| 毛利率 | 26.0% | 76.1% |
| 营业利润率 | -4.6% | 38.9% |
| 净利率 | -6.5% | 38.4% |
| 营收同比 | 4.4% | 6.6% |
| 净利润同比 | 14.1% | 44.2% |
| 每股收益（稀释后） | $-0.26 | $1.40 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MRCYOLED
| Q4 25 | $232.9M | $172.9M | ||
| Q3 25 | $225.2M | $139.6M | ||
| Q2 25 | $273.1M | $171.8M | ||
| Q1 25 | $211.4M | $166.3M | ||
| Q4 24 | $223.1M | $162.3M | ||
| Q3 24 | $204.4M | $161.6M | ||
| Q2 24 | $248.6M | $158.5M | ||
| Q1 24 | $208.3M | $165.3M |
净利润MRCYOLED
| Q4 25 | $-15.1M | $66.3M | ||
| Q3 25 | $-12.5M | $44.0M | ||
| Q2 25 | $16.4M | $67.3M | ||
| Q1 25 | $-19.2M | $64.4M | ||
| Q4 24 | $-17.6M | $46.0M | ||
| Q3 24 | $-17.5M | $66.9M | ||
| Q2 24 | $-10.8M | $52.3M | ||
| Q1 24 | $-44.6M | $56.9M |
毛利率MRCYOLED
| Q4 25 | 26.0% | 76.1% | ||
| Q3 25 | 27.9% | 74.6% | ||
| Q2 25 | 31.0% | 77.2% | ||
| Q1 25 | 27.0% | 77.1% | ||
| Q4 24 | 27.3% | 77.0% | ||
| Q3 24 | 25.3% | 77.8% | ||
| Q2 24 | 29.5% | 75.8% | ||
| Q1 24 | 19.5% | 77.6% |
营业利润率MRCYOLED
| Q4 25 | -4.6% | 38.9% | ||
| Q3 25 | -3.8% | 30.9% | ||
| Q2 25 | 8.6% | 39.9% | ||
| Q1 25 | -8.2% | 41.9% | ||
| Q4 24 | -5.6% | 32.3% | ||
| Q3 24 | -6.6% | 41.5% | ||
| Q2 24 | -3.2% | 35.6% | ||
| Q1 24 | -21.9% | 38.0% |
净利率MRCYOLED
| Q4 25 | -6.5% | 38.4% | ||
| Q3 25 | -5.6% | 31.5% | ||
| Q2 25 | 6.0% | 39.2% | ||
| Q1 25 | -9.1% | 38.8% | ||
| Q4 24 | -7.9% | 28.4% | ||
| Q3 24 | -8.6% | 41.4% | ||
| Q2 24 | -4.3% | 33.0% | ||
| Q1 24 | -21.4% | 34.4% |
每股收益（稀释后）MRCYOLED
| Q4 25 | $-0.26 | $1.40 | ||
| Q3 25 | $-0.21 | $0.92 | ||
| Q2 25 | $0.28 | $1.41 | ||
| Q1 25 | $-0.33 | $1.35 | ||
| Q4 24 | $-0.30 | $0.96 | ||
| Q3 24 | $-0.30 | $1.40 | ||
| Q2 24 | $-0.18 | $1.10 | ||
| Q1 24 | $-0.77 | $1.19 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $335.0M | $602.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.5B | $1.8B |
| 总资产 | $2.5B | $2.0B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资MRCYOLED
| Q4 25 | $335.0M | $602.4M | ||
| Q3 25 | $304.7M | $603.0M | ||
| Q2 25 | $309.1M | $525.2M | ||
| Q1 25 | $269.8M | $571.3M | ||
| Q4 24 | $242.6M | $492.7M | ||
| Q3 24 | $158.1M | $551.6M | ||
| Q2 24 | $180.5M | $530.5M | ||
| Q1 24 | $142.6M | $539.3M |
股东权益MRCYOLED
| Q4 25 | $1.5B | $1.8B | ||
| Q3 25 | $1.5B | $1.7B | ||
| Q2 25 | $1.5B | $1.7B | ||
| Q1 25 | $1.5B | $1.7B | ||
| Q4 24 | $1.5B | $1.6B | ||
| Q3 24 | $1.5B | $1.6B | ||
| Q2 24 | $1.5B | $1.5B | ||
| Q1 24 | $1.5B | $1.5B |
总资产MRCYOLED
| Q4 25 | $2.5B | $2.0B | ||
| Q3 25 | $2.5B | $1.9B | ||
| Q2 25 | $2.4B | $1.9B | ||
| Q1 25 | $2.4B | $1.9B | ||
| Q4 24 | $2.4B | $1.8B | ||
| Q3 24 | $2.4B | $1.8B | ||
| Q2 24 | $2.4B | $1.8B | ||
| Q1 24 | $2.4B | $1.7B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $51.6M | $31.1M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $15.1M |
| 自由现金流率自由现金流/营收 | 19.6% | 8.7% |
| 资本支出强度资本支出/营收 | 2.5% | 9.3% |
| 现金转化率经营现金流/净利润 | — | 0.47× |
| 过去12个月自由现金流最近4个季度 | $99.4M | $154.4M |
8季度趋势，按日历期对齐
经营现金流MRCYOLED
| Q4 25 | $51.6M | $31.1M | ||
| Q3 25 | $2.2M | $97.2M | ||
| Q2 25 | $38.1M | $51.9M | ||
| Q1 25 | $30.0M | $30.6M | ||
| Q4 24 | $85.5M | $34.7M | ||
| Q3 24 | $-14.7M | $79.9M | ||
| Q2 24 | $71.8M | $67.0M | ||
| Q1 24 | $-17.8M | $72.2M |
自由现金流MRCYOLED
| Q4 25 | $45.7M | $15.1M | ||
| Q3 25 | $-4.4M | $84.3M | ||
| Q2 25 | $34.0M | $37.5M | ||
| Q1 25 | $24.1M | $17.5M | ||
| Q4 24 | $81.9M | $22.0M | ||
| Q3 24 | $-20.9M | $66.2M | ||
| Q2 24 | $61.4M | $57.9M | ||
| Q1 24 | $-25.7M | $65.0M |
自由现金流率MRCYOLED
| Q4 25 | 19.6% | 8.7% | ||
| Q3 25 | -1.9% | 60.4% | ||
| Q2 25 | 12.4% | 21.8% | ||
| Q1 25 | 11.4% | 10.5% | ||
| Q4 24 | 36.7% | 13.6% | ||
| Q3 24 | -10.2% | 41.0% | ||
| Q2 24 | 24.7% | 36.5% | ||
| Q1 24 | -12.4% | 39.3% |
资本支出强度MRCYOLED
| Q4 25 | 2.5% | 9.3% | ||
| Q3 25 | 2.9% | 9.2% | ||
| Q2 25 | 1.5% | 8.4% | ||
| Q1 25 | 2.8% | 7.9% | ||
| Q4 24 | 1.6% | 7.8% | ||
| Q3 24 | 3.1% | 8.4% | ||
| Q2 24 | 4.2% | 5.8% | ||
| Q1 24 | 3.8% | 4.4% |
现金转化率MRCYOLED
| Q4 25 | — | 0.47× | ||
| Q3 25 | — | 2.21× | ||
| Q2 25 | 2.33× | 0.77× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 1.27× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
MRCY
| Airborne | $84.2M | 36% |
| Components | $48.7M | 21% |
| Other End Applications | $36.8M | 16% |
| Electronic Warfare | $27.5M | 12% |
| Other Sensor And Effector Applications | $23.9M | 10% |
| Space | $11.9M | 5% |
OLED
| Material Sales | $95.5M | 55% |
| Other | $72.6M | 42% |
| Contract Research Services | $4.8M | 3% |
