vs
MERCURY SYSTEMS INC（MRCY）与威世精密集团（VPG）财务数据对比。点击上方公司名可切换其他公司
MERCURY SYSTEMS INC的季度营收约是威世精密集团的2.9倍（$232.9M vs $80.6M）。威世精密集团净利率更高（-2.4% vs -6.5%，领先4.1%）。威世精密集团同比增速更快（10.9% vs 4.4%）。MERCURY SYSTEMS INC自由现金流更多（$45.7M vs $1.4M）。过去两年MERCURY SYSTEMS INC的营收复合增速更高（5.7% vs -0.1%）
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。
威世精密集团是美国知名电子元器件制造商，业务脱胎于威世集团旗下精密测量业务板块。公司在美洲、欧洲、亚洲及以色列均设有生产基地，主要生产整流器、二极管、MOS管、光电子器件、电阻电容电感等被动元件及特定集成电路，产品广泛应用于各类电子领域。
MRCY vs VPG — 直观对比
营收规模更大
MRCY
是对方的2.9倍
$80.6M
营收增速更快
VPG
高出6.5%
4.4%
净利率更高
VPG
高出4.1%
-6.5%
自由现金流更多
MRCY
多$44.4M
$1.4M
两年增速更快
MRCY
近两年复合增速
-0.1%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $232.9M | $80.6M |
| 净利润 | $-15.1M | $-1.9M |
| 毛利率 | 26.0% | 36.8% |
| 营业利润率 | -4.6% | 1.3% |
| 净利率 | -6.5% | -2.4% |
| 营收同比 | 4.4% | 10.9% |
| 净利润同比 | 14.1% | -381.8% |
| 每股收益（稀释后） | $-0.26 | $-0.14 |
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MRCYVPG
| Q4 25 | $232.9M | $80.6M | ||
| Q3 25 | $225.2M | $79.7M | ||
| Q2 25 | $273.1M | $75.2M | ||
| Q1 25 | $211.4M | $71.7M | ||
| Q4 24 | $223.1M | $72.7M | ||
| Q3 24 | $204.4M | $75.7M | ||
| Q2 24 | $248.6M | $77.4M | ||
| Q1 24 | $208.3M | $80.8M |
净利润MRCYVPG
| Q4 25 | $-15.1M | $-1.9M | ||
| Q3 25 | $-12.5M | $7.9M | ||
| Q2 25 | $16.4M | $248.0K | ||
| Q1 25 | $-19.2M | $-942.0K | ||
| Q4 24 | $-17.6M | $688.0K | ||
| Q3 24 | $-17.5M | $-1.4M | ||
| Q2 24 | $-10.8M | $4.6M | ||
| Q1 24 | $-44.6M | $5.9M |
毛利率MRCYVPG
| Q4 25 | 26.0% | 36.8% | ||
| Q3 25 | 27.9% | 40.3% | ||
| Q2 25 | 31.0% | 40.7% | ||
| Q1 25 | 27.0% | 37.7% | ||
| Q4 24 | 27.3% | 38.2% | ||
| Q3 24 | 25.3% | 40.0% | ||
| Q2 24 | 29.5% | 41.9% | ||
| Q1 24 | 19.5% | 43.4% |
营业利润率MRCYVPG
| Q4 25 | -4.6% | 1.3% | ||
| Q3 25 | -3.8% | 12.7% | ||
| Q2 25 | 8.6% | 3.6% | ||
| Q1 25 | -8.2% | -0.1% | ||
| Q4 24 | -5.6% | 0.3% | ||
| Q3 24 | -6.6% | 5.1% | ||
| Q2 24 | -3.2% | 7.6% | ||
| Q1 24 | -21.9% | 8.6% |
净利率MRCYVPG
| Q4 25 | -6.5% | -2.4% | ||
| Q3 25 | -5.6% | 9.9% | ||
| Q2 25 | 6.0% | 0.3% | ||
| Q1 25 | -9.1% | -1.3% | ||
| Q4 24 | -7.9% | 0.9% | ||
| Q3 24 | -8.6% | -1.8% | ||
| Q2 24 | -4.3% | 6.0% | ||
| Q1 24 | -21.4% | 7.3% |
每股收益（稀释后）MRCYVPG
| Q4 25 | $-0.26 | $-0.14 | ||
| Q3 25 | $-0.21 | $0.59 | ||
| Q2 25 | $0.28 | $0.02 | ||
| Q1 25 | $-0.33 | $-0.07 | ||
| Q4 24 | $-0.30 | $0.06 | ||
| Q3 24 | $-0.30 | $-0.10 | ||
| Q2 24 | $-0.18 | $0.34 | ||
| Q1 24 | $-0.77 | $0.44 |
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 | $87.4M |
| 总债务越低越好 | — | $20.6M |
| 股东权益账面价值 | $1.5B | $336.4M |
| 总资产 | $2.5B | $455.9M |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资MRCYVPG
| Q4 25 | $335.0M | $87.4M | ||
| Q3 25 | $304.7M | $86.3M | ||
| Q2 25 | $309.1M | $90.4M | ||
| Q1 25 | $269.8M | — | ||
| Q4 24 | $242.6M | $79.3M | ||
| Q3 24 | $158.1M | — | ||
| Q2 24 | $180.5M | — | ||
| Q1 24 | $142.6M | — |
总债务MRCYVPG
| Q4 25 | — | $20.6M | ||
| Q3 25 | — | $20.6M | ||
| Q2 25 | — | $31.5M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $31.4M | ||
| Q3 24 | — | $31.4M | ||
| Q2 24 | — | $31.9M | ||
| Q1 24 | — | $31.9M |
股东权益MRCYVPG
| Q4 25 | $1.5B | $336.4M | ||
| Q3 25 | $1.5B | $337.8M | ||
| Q2 25 | $1.5B | $331.2M | ||
| Q1 25 | $1.5B | $325.0M | ||
| Q4 24 | $1.5B | $322.0M | ||
| Q3 24 | $1.5B | $330.6M | ||
| Q2 24 | $1.5B | $327.0M | ||
| Q1 24 | $1.5B | $327.9M |
总资产MRCYVPG
| Q4 25 | $2.5B | $455.9M | ||
| Q3 25 | $2.5B | $462.3M | ||
| Q2 25 | $2.4B | $465.6M | ||
| Q1 25 | $2.4B | $453.8M | ||
| Q4 24 | $2.4B | $450.9M | ||
| Q3 24 | $2.4B | $462.5M | ||
| Q2 24 | $2.4B | $462.8M | ||
| Q1 24 | $2.4B | $466.2M |
负债/权益比MRCYVPG
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.10× | ||
| Q3 24 | — | 0.09× | ||
| Q2 24 | — | 0.10× | ||
| Q1 24 | — | 0.10× |
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 | $4.4M |
| 自由现金流经营现金流 - 资本支出 | $45.7M | $1.4M |
| 自由现金流率自由现金流/营收 | 19.6% | 1.7% |
| 资本支出强度资本支出/营收 | 2.5% | 3.8% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $99.4M | $6.4M |
8季度趋势，按日历期对齐
经营现金流MRCYVPG
| Q4 25 | $51.6M | $4.4M | ||
| Q3 25 | $2.2M | $-1.3M | ||
| Q2 25 | $38.1M | $6.0M | ||
| Q1 25 | $30.0M | $5.2M | ||
| Q4 24 | $85.5M | $6.8M | ||
| Q3 24 | $-14.7M | $-831.0K | ||
| Q2 24 | $71.8M | $7.5M | ||
| Q1 24 | $-17.8M | $6.4M |
自由现金流MRCYVPG
| Q4 25 | $45.7M | $1.4M | ||
| Q3 25 | $-4.4M | $-3.5M | ||
| Q2 25 | $34.0M | $4.7M | ||
| Q1 25 | $24.1M | $3.7M | ||
| Q4 24 | $81.9M | $4.6M | ||
| Q3 24 | $-20.9M | $-2.6M | ||
| Q2 24 | $61.4M | $4.9M | ||
| Q1 24 | $-25.7M | $3.8M |
自由现金流率MRCYVPG
| Q4 25 | 19.6% | 1.7% | ||
| Q3 25 | -1.9% | -4.3% | ||
| Q2 25 | 12.4% | 6.3% | ||
| Q1 25 | 11.4% | 5.2% | ||
| Q4 24 | 36.7% | 6.3% | ||
| Q3 24 | -10.2% | -3.5% | ||
| Q2 24 | 24.7% | 6.3% | ||
| Q1 24 | -12.4% | 4.7% |
资本支出强度MRCYVPG
| Q4 25 | 2.5% | 3.8% | ||
| Q3 25 | 2.9% | 2.8% | ||
| Q2 25 | 1.5% | 1.7% | ||
| Q1 25 | 2.8% | 2.1% | ||
| Q4 24 | 1.6% | 3.0% | ||
| Q3 24 | 3.1% | 2.4% | ||
| Q2 24 | 4.2% | 3.4% | ||
| Q1 24 | 3.8% | 3.2% |
现金转化率MRCYVPG
| Q4 25 | — | — | ||
| Q3 25 | — | -0.16× | ||
| Q2 25 | 2.33× | 24.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 9.85× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.62× | ||
| Q1 24 | — | 1.09× |
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% |
VPG
| Other | $38.6M | 48% |
| Sensors Segment | $14.1M | 18% |
| Measurement Systems Segment | $13.0M | 16% |
| Weighing Solutions Segment | $11.3M | 14% |
| IL | $3.5M | 4% |
