Hayward vs Mercury Systems
Hayward reported revenue of $1.1 billion in fiscal 2025, about the same as Mercury Systems' $984 million in fiscal 2026. Hayward's revenue grew 6.7% in its latest year, and Mercury Systems' grew 7.8%. Hayward had an operating margin of 20.8%, against 0.0% at Mercury Systems. Free cash flow was $227 million at Hayward and $68 million at Mercury Systems. Their fiscal years end in different months (December 31 and July 3), so the periods don't line up exactly.
Side by side
| Hayward | Mercury Systems | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2026, Jul 3, 2026 |
| Revenue | $1.1B | $984M |
| Revenue growth | 6.7% | 7.8% |
| Revenue growth a year, last 5 years | 5.1% | 1.3% |
| Gross margin | 48.0% | 28.6% |
| Operating margin | 20.8% | 0.0% |
| Net margin | 13.5% | −3.0% |
| Free cash flow | $227M | $68M |
| Free cash flow margin | 20.3% | 6.9% |
| Return on capital | 8.8% | — |
| Net debt to EBITDA | 1.9x | — |
| Dividends and buybacks | $5M | $15M |
| Change in diluted share count | 0.4% | 1.2% |
| Last close | $16.24 | $73.55 |
| P/E at the last close | 20.8× | — |
| Insider trades, last 12 months | bought $28,608, sold $11.3 million | sold $118.6 million |
| Piotroski F-score | 8 of 9 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
HaywardMercury Systems
Operating margin
Percent of revenue
HaywardMercury Systems
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
HaywardMercury Systems
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Hayward and Mercury Systems pages.