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Neogen (NEOG) Financials

Neogen logo
$5.50 -0.04 (-0.72%)
Closing price 08/14/2025 04:00 PM Eastern
Extended Trading
$5.50 0.00 (-0.09%)
As of 04:05 AM Eastern
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Annual Income Statements for Neogen

Annual Income Statements for Neogen

This table shows Neogen's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 34 37 44 63 60 59 61 48 -23 -9.42 -1,092
Consolidated Net Income / (Loss)		 34 37 44 63 60 59 61 48 -23 -9.42 -1,092
Net Income / (Loss) Continuing Operations		 34 37 44 63 60 59 61 48 -23 -9.42 -1,092
Total Pre-Tax Income 		52 56 67 73 73 72 75 60 -22 -14 -1,133
Total Operating Income		 53 56 65 70 68 68 74 59 38 59 -1,061
Total Gross Profit		 140 153 169 186 192 196 215 243 406 464 421
Total Revenue		 283 321 358 398 414 418 468 527 822 924 895
Operating Revenue		 283 321 358 398 414 418 468 527 822 924 895
Total Cost of Revenue		 143 168 189 212 222 222 253 284 416 460 473
Operating Cost of Revenue		 143 168 189 212 222 222 253 284 416 460 473
Total Operating Expenses		 87 97 104 116 124 129 141 184 368 405 1,482
Selling, General & Admin Expense		 25 29 34 38 41 44 51 83 201 200 218
Marketing Expense		 52 58 59 67 70 70 73 85 141 183 184
Research & Development Expense		 9.58 9.89 10 11 13 15 16 17 26 22 21
Impairment Charge		 - - - - - - - - 0.00 0.00 1,059
Total Other Income / (Expense), net		 -1.04 -0.87 1.73 3.27 4.87 4.78 1.10 1.59 -60 -73 -72
Interest Expense		 - - - - - - 0.08 0.07 56 73 72
Interest & Investment Income		 0.38 0.54 1.01 2.19 4.83 5.99 1.69 1.34 3.17 6.36 3.11
Other Income / (Expense), net		 -1.42 -1.41 0.72 1.08 0.03 -1.21 -0.52 0.32 -6.76 -5.94 -3.60
Income Tax Expense		 19 19 23 10 13 13 14 12 0.83 -4.88 -41
Basic Earnings per Share		 $0.91 $0.73 $0.87 $1.23 $0.58 $0.57 $0.57 $0.45 ($0.12) ($0.04) ($5.03)
Weighted Average Basic Shares Outstanding		 36.95M 37.40M 50.54M 51.36M 103.78M 105.10M 106.50M 107.68M 188.88M 216.48M 216.89M
Diluted Earnings per Share		 $0.90 $0.72 $0.86 $1.21 $0.57 $0.56 $0.57 $0.45 ($0.12) ($0.04) ($5.03)
Weighted Average Diluted Shares Outstanding		 36.95M 37.40M 50.54M 52.15M 104.85M 105.72M 107.12M 108.02M 188.88M 216.48M 216.89M
Weighted Average Basic & Diluted Shares Outstanding		 36.95M 37.40M 50.54M 51.36M 51.89M 52.96M 107.48M 107.84M 216.31M 216.69M 217.21M

Quarterly Income Statements for Neogen

This table shows Neogen's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q2 2025 Q3 2025
Period end date 5/31/2022 8/31/2022 11/30/2022 2/28/2023 5/31/2023 8/31/2024 11/30/2023 2/29/2024 5/31/2024 11/30/2024 2/28/2025
Net Income / (Loss) Attributable to Common Shareholders		 15 5.21 -42 8.19 5.57 -13 -3.49 -2.02 -5.42 -456 -11
Consolidated Net Income / (Loss)		 15 5.21 -42 8.19 5.57 -13 -3.49 -2.02 -5.42 -456 -11
Net Income / (Loss) Continuing Operations		 15 5.21 -42 8.19 5.57 -13 -3.49 -2.02 -5.42 -456 -11
Total Pre-Tax Income 		19 6.66 -34 -2.26 7.65 -16 -3.75 -5.82 -6.40 -477 -9.73
Total Operating Income		 18 6.06 -7.66 16 23 2.26 14 12 13 -457 5.42
Total Gross Profit		 65 62 113 108 123 105 117 117 113 113 110
Total Revenue		 140 132 230 218 242 217 230 229 237 231 221
Operating Revenue		 140 132 230 218 242 217 230 229 237 231 221
Total Cost of Revenue		 75 70 117 110 119 112 113 112 123 118 111
Operating Cost of Revenue		 75 70 117 110 119 112 113 112 123 118 111
Total Operating Expenses		 47 56 120 92 100 103 102 105 100 571 105
Selling, General & Admin Expense		 22 28 77 46 50 52 52 52 51 58 56
Marketing Expense		 21 23 36 39 43 46 45 48 44 47 45
Research & Development Expense		 3.83 4.88 6.85 7.26 7.05 5.20 5.76 4.85 5.15 5.11 4.47
Impairment Charge		 - - - - - - 0.00 0.00 - 461 0.00
Total Other Income / (Expense), net		 0.88 0.60 -26 -18 -16 -18 -18 -18 -19 -19 -15
Interest Expense		 - 0.00 21 17 18 19 18 18 19 18 18
Interest & Investment Income		 0.54 0.97 0.55 0.64 1.00 0.99 1.86 1.61 1.10 0.77 0.70
Other Income / (Expense), net		 0.36 -0.37 -6.44 -1.12 1.18 -0.24 -2.04 -1.17 -1.92 -1.72 1.90
Income Tax Expense		 3.95 1.45 7.75 -10 2.08 -3.00 -0.26 -3.80 -0.98 -20 1.23
Basic Earnings per Share		 $0.14 $0.05 ($0.19) $0.04 $0.03 ($0.06) ($0.02) ($0.01) ($0.02) ($2.10) ($0.05)
Weighted Average Basic Shares Outstanding		 107.68M 107.84M 216.13M 216.22M 188.88M 216.70M 216.41M 216.60M 216.48M 216.81M 217.03M
Diluted Earnings per Share		 $0.14 $0.05 ($0.19) $0.04 $0.03 ($0.06) ($0.02) ($0.01) ($0.02) ($2.10) ($0.05)
Weighted Average Diluted Shares Outstanding		 108.02M 107.86M 216.13M 216.40M 188.88M 216.70M 216.41M 216.60M 216.48M 216.81M 217.03M
Weighted Average Basic & Diluted Shares Outstanding		 107.84M 107.84M 216.15M 216.22M 216.31M 216.70M 216.52M 216.61M 216.69M 216.94M 217.04M

Annual Cash Flow Statements for Neogen

This table details how cash moves in and out of Neogen's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Net Change in Cash & Equivalents		 25 -11 22 5.51 -41 25 9.33 -31 119 7.37 -42
Net Cash From Operating Activities		 44 35 60 69 64 86 81 68 41 35 58
Net Cash From Continuing Operating Activities		 44 35 60 69 64 86 81 68 41 35 58
Net Income / (Loss) Continuing Operations		 34 37 44 63 60 59 61 48 -23 -9.42 -1,092
Consolidated Net Income / (Loss)		 34 37 44 63 60 59 61 48 -23 -9.42 -1,092
Depreciation Expense		 11 12 15 17 18 18 21 24 88 117 119
Amortization Expense		 - - - - - - 0.00 0.44 4.82 7.95 9.41
Non-Cash Adjustments To Reconcile Net Income		 1.98 2.52 1.34 4.91 5.54 6.47 6.44 0.02 14 20 1,085
Changes in Operating Assets and Liabilities, net		 -2.41 -16 0.27 -16 -20 1.54 -7.27 -4.42 -43 -100 -64
Net Cash From Investing Activities		 -28 -61 -62 -83 -119 -89 -106 -97 201 -29 -99
Net Cash From Continuing Investing Activities		 -28 -61 -62 -83 -119 -89 -106 -97 201 -29 -99
Purchase of Property, Plant & Equipment		 -9.62 -14 -15 -21 -15 -24 -27 -24 -66 -111 -105
Acquisitions		 -6.55 -42 -34 -0.47 -6.39 -13 -51 -39 12 0.00 0.00
Purchase of Investments		 -106 -152 -163 -361 -437 -458 -793 -416 -13 0.00 0.00
Sale of Property, Plant & Equipment		 - - - - - - 0.00 0.00 0.83 0.11 5.08
Sale and/or Maturity of Investments		 94 147 149 300 339 407 765 382 267 82 0.33
Net Cash From Financing Activities		 11 15 25 23 14 29 34 6.81 -118 1.92 -1.60
Net Cash From Continuing Financing Activities		 11 15 25 23 14 29 34 6.81 -118 1.92 -1.60
Repayment of Debt		 - - - - - - 0.00 0.00 -119 0.00 -552
Issuance of Debt		 - - - - - - - - 0.00 0.00 550
Issuance of Common Equity		 - - 21 23 17 29 35 7.93 1.20 2.46 2.24
Other Financing Activities, net		 11 15 3.92 -0.42 0.00 0.00 -1.09 -1.12 0.00 -0.54 -1.82
Other Net Changes in Cash		 - - - - - - - - -5.22 -0.50 0.94
Cash Interest Paid		 - - - - - - 0.08 0.07 43 73 68
Cash Income Taxes Paid		 10 13 18 15 13 7.36 15 17 15 22 27

Quarterly Cash Flow Statements for Neogen

This table details how cash moves in and out of Neogen's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q3 2025 Q4 2025
Period end date 5/31/2022 8/31/2022 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 2/28/2025 5/31/2025
Net Change in Cash & Equivalents		 1.59 68 -13 -30 93 16 27 -44 9.17 -13 1.30
Net Cash From Operating Activities		 20 -14 -19 -17 91 23 16 -30 27 19 17
Net Cash From Continuing Operating Activities		 20 -14 -19 -17 91 23 16 -30 27 19 17
Net Income / (Loss) Continuing Operations		 15 5.21 -42 8.19 5.57 1.50 -3.49 -2.02 -5.42 -11 -612
Consolidated Net Income / (Loss)		 15 5.21 -42 8.19 5.57 1.50 -3.49 -2.02 -5.42 -11 -612
Depreciation Expense		 5.86 5.73 27 27 28 29 29 30 29 29 30
Amortization Expense		 0.44 0.00 1.00 0.86 2.96 0.86 0.86 0.86 5.37 0.86 6.83
Non-Cash Adjustments To Reconcile Net Income		 -5.03 1.87 2.18 6.61 3.48 2.64 4.27 3.69 9.64 6.18 602
Changes in Operating Assets and Liabilities, net		 4.16 -27 -6.80 -60 51 -11 -15 -62 -12 -6.09 -9.86
Net Cash From Investing Activities		 -17 82 93 20 6.88 -8.68 12 -15 -18 -32 -16
Net Cash From Continuing Investing Activities		 -17 82 93 20 6.88 -8.68 12 -15 -18 -32 -16
Purchase of Property, Plant & Equipment		 -13 -13 -12 -15 -26 -31 -24 -32 -24 -33 -16
Sale of Property, Plant & Equipment		 - 0.00 0.61 0.08 0.14 0.04 0.03 -0.01 0.05 0.42 0.21
Net Cash From Financing Activities		 -1.03 0.91 -79 -40 0.25 1.06 -0.31 1.25 -0.08 0.95 -2.11
Net Cash From Continuing Financing Activities		 -1.03 0.91 -79 -40 0.25 1.06 -0.31 1.25 -0.08 0.95 -2.11
Other Financing Activities, net		 - - - - - - - - - -0.12 -0.09

Annual Balance Sheets for Neogen

This table presents Neogen's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Total Assets		 392 450 528 618 696 797 920 993 4,554 4,549 3,444
Total Current Assets		 231 248 293 376 450 537 591 627 586 589 577
Cash & Equivalents		 66 55 78 83 42 66 76 44 163 171 129
Short-Term Investments		 48 53 66 128 226 277 305 337 82 0.33 0.00
Accounts Receivable		 59 68 69 79 83 85 92 100 153 173 153
Inventories, net		 52 64 73 76 86 95 101 122 134 189 191
Prepaid Expenses		 4.23 8.41 7.61 9.89 13 14 18 24 53 56 53
Other Current Nonoperating Assets		 - - - - - - - - - 0.00 50
Plant, Property, & Equipment, net		 44 55 62 73 75 79 100 111 199 277 339
Plant, Property & Equipment, gross		 79 97 112 130 140 154 198 215 319 417 495
Accumulated Depreciation		 35 42 50 57 66 75 98 105 120 140 155
Total Noncurrent Assets		 117 147 174 169 171 181 228 256 3,770 3,682 2,528
Goodwill		 70 89 105 100 104 110 131 143 2,137 2,136 1,065
Intangible Assets		 46 59 69 15 16 67 92 108 1,605 1,512 1,410
Other Noncurrent Operating Assets		 - - - 55 52 4.18 4.50 5.34 27 35 52
Total Liabilities & Shareholders' Equity		 392 450 528 618 696 797 920 993 4,554 4,549 3,444
Total Liabilities		 41 46 57 58 58 72 80 106 1,420 1,405 1,373
Total Current Liabilities		 25 29 36 39 38 48 54 78 145 154 174
Short-Term Debt		 - - - - - - - - - 2.45 19
Accounts Payable		 14 16 16 21 19 26 24 35 77 83 80
Current Deferred Revenue		 - - - - - - 3.40 5.46 4.62 4.63 5.56
Current Deferred & Payable Income Tax Liabilities		 1.28 0.00 0.94 0.17 0.60 1.46 1.85 2.13 6.95 10 5.60
Current Employee Benefit Liabilities		 4.14 4.99 5.00 6.07 7.09 7.74 11 11 25 20 14
Other Current Liabilities		 - - - - - - - - 21 23 32
Other Current Nonoperating Liabilities		 - - - - - - - 0.00 11 11 18
Total Noncurrent Liabilities		 16 17 21 19 20 24 26 28 1,275 1,250 1,199
Long-Term Debt		 2.05 - - - - - - 0.00 885 888 875
Noncurrent Deferred & Payable Income Tax Liabilities		 14 15 17 14 16 18 22 17 353 327 281
Other Noncurrent Operating Liabilities		 - 2.42 3.60 5.04 3.97 5.39 4.30 11 36 35 43
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 351 404 472 560 638 725 840 887 3,134 3,144 2,071
Total Preferred & Common Equity		 351 404 472 560 638 725 840 887 3,134 3,144 2,071
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 351 404 472 560 638 725 840 887 3,134 3,144 2,071
Common Stock		 138 156 183 211 230 266 312 327 2,602 2,619 2,637
Retained Earnings		 216 252 296 359 419 479 540 588 565 556 -536
Accumulated Other Comprehensive Income / (Loss)		 -2.44 -3.95 -7.20 -9.75 -12 -20 -11 -28 -33 -30 -29

Quarterly Balance Sheets for Neogen

This table presents Neogen's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q2 2025 Q3 2025
Period end date 2/28/2022 8/31/2022 11/30/2022 2/28/2023 8/31/2024 11/30/2023 2/29/2024 11/30/2024 2/28/2025
Total Assets		 981 977 4,563 4,509 4,503 4,602 4,582 4,054 4,036
Total Current Assets		 610 608 643 555 541 624 602 570 552
Cash & Equivalents		 43 107 100 67 120 206 161 140 128
Short-Term Investments		 336 241 176 116 0.00 25 7.01 0.00 0.00
Accounts Receivable		 93 93 143 146 168 150 174 164 160
Inventories, net		 113 129 136 144 199 161 182 198 205
Prepaid Expenses		 25 38 88 82 54 83 78 68 58
Plant, Property, & Equipment, net		 105 121 148 165 301 244 272 311 328
Total Noncurrent Assets		 267 246 3,772 3,789 3,662 3,734 3,708 3,173 3,157
Goodwill		 150 140 2,122 2,135 2,137 2,138 2,136 1,673 1,672
Intangible Assets		 112 15 1,642 1,634 1,490 1,565 1,540 1,463 1,439
Other Noncurrent Operating Assets		 4.78 91 7.61 19 34 31 32 37 46
Total Liabilities & Shareholders' Equity		 981 977 4,563 4,509 4,503 4,602 4,582 4,054 4,036
Total Liabilities		 106 94 1,457 1,383 1,368 1,455 1,436 1,385 1,376
Total Current Liabilities		 66 67 153 107 123 177 158 151 141
Accounts Payable		 24 27 79 60 61 112 90 80 72
Current Deferred Revenue		 - 5.46 5.08 6.77 5.64 4.68 5.49 5.65 5.77
Current Deferred & Payable Income Tax Liabilities		 0.00 3.92 9.05 1.65 11 10 12 11 13
Current Employee Benefit Liabilities		 9.66 8.30 15 17 16 16 20 16 18
Other Current Liabilities		 - - - - 25 - 2.52 25 28
Other Current Nonoperating Liabilities		 - - 14 3.44 3.55 11 3.44 11 3.44
Total Noncurrent Liabilities		 40 27 1,304 1,276 1,245 1,278 1,278 1,234 1,235
Long-Term Debt		 - - 924 885 889 887 888 890 891
Noncurrent Deferred & Payable Income Tax Liabilities		 21 16 364 363 318 355 354 302 301
Other Noncurrent Operating Liabilities		 19 11 16 29 39 36 37 42 43
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 876 884 3,106 3,126 3,135 3,148 3,146 2,669 2,660
Total Preferred & Common Equity		 876 884 3,106 3,126 3,135 3,148 3,146 2,669 2,660
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 876 884 3,106 3,126 3,135 3,148 3,146 2,669 2,660
Common Stock		 325 330 2,595 2,599 2,624 2,610 2,615 2,627 2,632
Retained Earnings		 573 593 551 559 543 563 561 87 76
Accumulated Other Comprehensive Income / (Loss)		 -22 -39 -40 -33 -31 -25 -29 -45 -48

Annual Metrics And Ratios for Neogen

This table displays calculated financial ratios and metrics derived from Neogen's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 5/31/2017 5/31/2018 5/31/2019 5/31/2020 5/31/2021 5/31/2022 5/31/2023 5/31/2024 5/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 14.42% 13.50% 11.52% 11.07% 4.09% 0.96% 12.03% 12.53% 56.02% 12.37% -3.20%
EBITDA Growth		 20.21% 7.71% 19.66% 9.93% -2.92% -1.21% 11.79% -12.27% 49.20% 43.12% -627.47%
EBIT Growth		 21.12% 6.34% 19.45% 8.55% -4.42% -2.66% 11.07% -19.98% -47.82% 71.45% -2,119.08%
NOPAT Growth		 21.16% 8.36% 15.41% 41.01% -7.01% -1.11% 8.01% -21.60% -44.16% 56.37% -1,908.63%
Net Income Growth		 19.78% 8.82% 20.35% 43.76% -4.81% -1.16% 2.37% -20.65% -147.34% 58.81% -11,491.59%
EPS Growth		 18.42% 8.82% 20.35% 40.70% -4.81% -1.16% 2.37% -21.05% -126.67% 66.67% -12,475.00%
Operating Cash Flow Growth		 102.10% -19.32% 70.60% 14.69% -7.65% 34.52% -5.58% -16.09% -39.70% -14.05% 65.17%
Free Cash Flow Firm Growth		 195.37% -175.34% 154.29% 253.52% -9.87% 25.45% -140.19% 99.99% -349,034,399.41% 98.58% 774.63%
Invested Capital Growth		 3.09% 24.08% 10.72% 6.47% 5.97% 3.04% 20.39% 10.24% 647.59% 2.31% -27.65%
Revenue Q/Q Growth		 4.18% 3.70% 1.54% 3.27% 0.40% -0.16% 4.08% 2.46% 14.11% -0.54% 0.00%
EBITDA Q/Q Growth		 5.86% 2.15% 5.69% 0.89% -0.98% 2.26% 1.74% -1.60% 33.81% -5.66% 0.00%
EBIT Q/Q Growth		 6.58% 1.58% 5.94% 0.57% -1.55% 2.49% 0.73% -2.84% 25.35% -20.36% 0.00%
NOPAT Q/Q Growth		 6.81% 1.16% 6.08% 8.61% -3.86% 0.36% 0.82% -3.29% 16.81% -15.04% 0.00%
Net Income Q/Q Growth		 5.93% 1.07% 6.47% 8.69% -2.79% 0.90% -0.96% -1.63% -69.62% -701.60% 0.00%
EPS Q/Q Growth		 4.65% 1.07% 6.47% 7.08% -2.79% 0.90% -0.96% -2.17% -100.00% -500.00% 0.00%
Operating Cash Flow Q/Q Growth		 29.34% -16.78% 14.79% 12.11% -2.56% 5.86% -4.32% -2.27% 238.85% -64.55% -14.91%
Free Cash Flow Firm Q/Q Growth		 35.71% -339.24% 144.13% 8.37% 0.94% -0.79% -63.45% -100.02% 1.76% -563.02% 0.00%
Invested Capital Q/Q Growth		 0.92% 11.91% -0.66% -0.12% -0.80% -0.64% 1.09% 1.85% -1.18% 0.10% 0.00%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 49.35% 47.64% 47.15% 46.81% 46.34% 46.94% 45.91% 46.10% 49.36% 50.19% 47.10%
EBITDA Margin		 22.03% 20.90% 22.43% 22.20% 20.70% 20.26% 20.21% 15.76% 15.07% 19.19% -104.59%
Operating Margin		 18.76% 17.55% 18.13% 17.64% 16.44% 16.15% 15.83% 11.12% 4.56% 6.35% -118.59%
EBIT Margin		 18.26% 17.11% 18.33% 17.91% 16.45% 15.86% 15.72% 11.18% 3.74% 5.71% -118.99%
Profit (Net Income) Margin		 11.86% 11.37% 12.27% 15.89% 14.53% 14.22% 13.00% 9.16% -2.78% -1.02% -122.06%
Tax Burden Percent		 64.48% 65.82% 65.95% 86.05% 82.48% 82.26% 80.89% 80.23% 103.76% 65.86% 96.38%
Interest Burden Percent		 100.73% 100.98% 101.54% 103.07% 107.09% 109.04% 102.19% 102.15% -71.67% -27.13% 106.44%
Effective Tax Rate		 35.53% 34.18% 34.05% 13.95% 17.52% 17.74% 19.11% 19.77% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 14.56% 13.87% 13.72% 17.83% 15.61% 14.78% 14.27% 9.74% 1.22% 1.07% -22.24%
ROIC Less NNEP Spread (ROIC-NNEP)		 15.28% 14.39% 12.81% 16.24% 13.93% 13.49% 14.03% 9.41% -35.17% -6.25% -69.99%
Return on Net Nonoperating Assets (RNNOA)		 -4.34% -4.19% -3.68% -5.58% -5.56% -6.05% -6.49% -4.15% -2.36% -1.37% -19.64%
Return on Equity (ROE)		 10.22% 9.68% 10.04% 12.25% 10.05% 8.73% 7.78% 5.59% -1.14% -0.30% -41.88%
Cash Return on Invested Capital (CROIC)		 11.51% -7.62% 3.55% 11.56% 9.81% 11.78% -4.23% 0.00% -151.58% -1.21% 9.84%
Operating Return on Assets (OROA)		 14.02% 13.06% 13.42% 12.43% 10.37% 8.88% 8.58% 6.16% 1.11% 1.16% -26.64%
Return on Assets (ROA)		 9.11% 8.68% 8.99% 11.03% 9.16% 7.97% 7.09% 5.05% -0.82% -0.21% -27.33%
Return on Common Equity (ROCE)		 10.22% 9.68% 10.04% 12.25% 10.05% 8.73% 7.78% 5.59% -1.14% -0.30% -41.88%
Return on Equity Simple (ROE_SIMPLE)		 9.57% 9.04% 9.32% 11.28% 9.43% 8.20% 7.24% 5.44% -0.73% -0.30% 0.00%
Net Operating Profit after Tax (NOPAT)		 34 37 43 60 56 56 60 47 26 41 -743
NOPAT Margin		 12.10% 11.55% 11.96% 15.18% 13.56% 13.28% 12.81% 8.92% 3.19% 4.44% -83.01%
Net Nonoperating Expense Percent (NNEP)		 -0.72% -0.52% 0.91% 1.59% 1.68% 1.29% 0.25% 0.33% 36.40% 7.32% 47.75%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - - - -25.05%
Cost of Revenue to Revenue		 50.65% 52.36% 52.85% 53.19% 53.66% 53.06% 54.09% 53.90% 50.64% 49.81% 52.90%
SG&A Expenses to Revenue		 8.91% 9.09% 9.55% 9.62% 9.85% 10.60% 10.93% 15.70% 24.46% 21.63% 24.39%
R&D to Revenue		 3.38% 3.08% 2.90% 2.73% 3.09% 3.53% 3.47% 3.23% 3.17% 2.43% 2.36%
Operating Expenses to Revenue		 30.58% 30.09% 29.02% 29.17% 29.90% 30.79% 30.07% 34.98% 44.80% 43.85% 165.69%
Earnings before Interest and Taxes (EBIT)		 52 55 66 71 68 66 74 59 31 53 -1,065
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 62 67 80 88 86 85 95 83 124 177 -936
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.93 4.58 5.12 6.97 4.60 5.20 5.88 3.22 1.21 0.91 0.61
Price to Tangible Book Value (P/TBV)		 7.38 7.20 8.10 8.76 5.66 6.87 8.01 4.48 0.00 0.00 0.00
Price to Revenue (P/Rev)		 6.12 5.77 6.73 9.81 7.09 9.01 10.54 5.41 4.60 3.08 1.42
Price to Earnings (P/E)		 51.64 50.67 55.09 61.85 48.81 63.36 81.13 59.06 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.94% 1.97% 1.82% 1.62% 2.05% 1.58% 1.23% 1.69% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 6.78 5.89 6.92 10.58 7.21 8.98 9.93 4.88 1.17 0.92 0.73
Enterprise Value to Revenue (EV/Rev)		 5.72 5.43 6.33 9.28 6.45 8.19 9.73 4.69 5.38 3.86 2.28
Enterprise Value to EBITDA (EV/EBITDA)		 25.97 25.98 28.24 41.83 31.13 40.43 48.14 29.76 35.67 20.10 0.00
Enterprise Value to EBIT (EV/EBIT)		 31.32 31.74 34.56 51.84 39.18 51.64 61.89 41.94 143.78 67.63 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 47.28 47.01 52.97 61.17 47.53 61.66 75.98 52.56 168.37 86.84 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 36.98 49.38 37.65 53.44 41.81 39.88 56.22 36.33 107.77 101.12 34.97
Enterprise Value to Free Cash Flow (EV/FCFF)		 59.79 0.00 204.86 94.35 75.64 77.35 0.00 0.00 0.00 0.00 6.20
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.28 0.43
Long-Term Debt to Equity		 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.28 0.42
Financial Leverage		 -0.28 -0.29 -0.29 -0.34 -0.40 -0.45 -0.46 -0.44 0.07 0.22 0.28
Leverage Ratio		 1.12 1.12 1.12 1.11 1.10 1.10 1.10 1.11 1.38 1.45 1.53
Compound Leverage Factor		 1.13 1.13 1.13 1.15 1.17 1.19 1.12 1.13 -0.99 -0.39 1.63
Debt to Total Capital		 0.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22.03% 22.03% 30.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.65%
Long-Term Debt to Total Capital		 0.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22.03% 22.03% 29.50%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% -0.01% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.42% 100.01% 99.97% 100.00% 100.00% 100.00% 100.00% 100.00% 77.97% 77.97% 69.85%
Debt to EBITDA		 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.14 5.01 -0.96
Net Debt to EBITDA		 -1.80 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5.16 4.04 -0.82
Long-Term Debt to EBITDA		 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.14 5.01 -0.93
Debt to NOPAT		 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33.72 21.63 -1.20
Net Debt to NOPAT		 -3.27 0.00 0.00 0.00 0.00 0.00 0.00 0.00 24.37 17.47 -1.03
Long-Term Debt to NOPAT		 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33.72 21.63 -1.18
Altman Z-Score		 27.76 26.77 28.01 43.01 32.94 33.78 39.43 18.44 2.09 1.74 -0.28
Noncontrolling Interest Sharing Ratio		 -0.01% -0.01% 0.01% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 9.08 8.68 8.14 9.71 11.75 11.08 11.03 8.05 4.03 3.82 3.32
Quick Ratio		 6.81 6.14 5.89 7.49 9.15 8.83 8.82 6.18 2.74 2.23 1.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 27 -20 11 39 35 44 -18 -0.00 -3,253 -46 329
Operating Cash Flow to CapEx		 455.27% 248.43% 413.46% 330.04% 435.45% 357.05% 303.57% 278.51% 63.19% 31.68% 58.52%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -228.11 -0.01 -58.12 -0.63 4.59
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 1,039.60 944.97 0.73 0.48 0.81
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 697.14 605.68 -0.43 -1.04 -0.58
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.77 0.76 0.73 0.69 0.63 0.56 0.55 0.55 0.30 0.20 0.22
Accounts Receivable Turnover		 5.10 5.07 5.26 5.39 5.12 5.00 5.31 5.51 6.50 5.67 5.48
Inventory Turnover		 2.79 2.90 2.75 2.84 2.74 2.45 2.59 2.55 3.25 2.85 2.49
Fixed Asset Turnover		 6.55 6.48 6.15 5.90 5.60 5.45 5.23 5.00 5.32 3.88 2.90
Accounts Payable Turnover		 10.59 11.41 11.82 11.44 11.17 9.93 10.23 9.71 7.49 5.76 5.82
Days Sales Outstanding (DSO)		 71.63 72.06 69.39 67.72 71.23 73.00 68.76 66.30 56.12 64.42 66.58
Days Inventory Outstanding (DIO)		 130.81 125.82 132.54 128.60 133.01 148.91 140.98 143.24 112.23 128.09 146.58
Days Payable Outstanding (DPO)		 34.48 32.00 30.88 31.90 32.69 36.78 35.69 37.58 48.76 63.33 62.72
Cash Conversion Cycle (CCC)		 167.97 165.89 171.05 164.43 171.56 185.13 174.06 171.95 119.59 129.19 150.43
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 239 296 328 349 370 382 459 506 3,785 3,873 2,804
Invested Capital Turnover		 1.20 1.20 1.15 1.17 1.15 1.11 1.11 1.09 0.38 0.24 0.27
Increase / (Decrease) in Invested Capital		 7.17 58 32 21 21 11 78 47 3,279 87 -1,071
Enterprise Value (EV)		 1,619 1,745 2,269 3,695 2,669 3,425 4,559 2,472 4,422 3,566 2,037
Market Capitalization		 1,731 1,853 2,413 3,905 2,937 3,768 4,940 2,853 3,782 2,848 1,272
Book Value per Share		 $9.48 $10.77 $12.37 $10.86 $12.24 $13.71 $15.70 $8.23 $14.50 $14.52 $9.54
Tangible Book Value per Share		 $6.33 $6.85 $7.82 $8.64 $9.95 $10.36 $11.52 $5.91 ($2.81) ($2.32) ($1.86)
Total Capital		 353 404 472 560 638 725 840 887 4,020 4,033 2,965
Total Debt		 2.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 885 888 894
Total Long-Term Debt		 2.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 885 888 875
Net Debt		 -112 -108 -144 -211 -268 -344 -381 -381 640 717 765
Capital Expenditures (CapEx)		 9.62 14 15 21 15 24 27 24 65 111 100
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 92 112 113 126 144 145 157 168 195 264 293
Debt-free Net Working Capital (DFNWC)		 206 220 257 337 411 489 538 549 440 435 422
Net Working Capital (NWC)		 206 220 257 337 411 489 538 549 440 435 403
Net Nonoperating Expense (NNE)		 0.67 0.57 -1.14 -2.81 -4.01 -3.93 -0.89 -1.27 49 50 349
Net Nonoperating Obligations (NNO)		 -112 -108 -144 -211 -268 -344 -381 -381 651 728 732
Total Depreciation and Amortization (D&A)		 11 12 15 17 18 18 21 24 93 125 129
Debt-free, Cash-free Net Working Capital to Revenue		 32.35% 34.81% 31.63% 31.74% 34.71% 34.73% 33.46% 31.85% 23.70% 28.56% 32.77%
Debt-free Net Working Capital to Revenue		 72.68% 68.36% 71.72% 84.71% 99.30% 116.92% 114.81% 104.13% 53.55% 47.06% 47.19%
Net Working Capital to Revenue		 72.68% 68.36% 71.72% 84.71% 99.30% 116.92% 114.81% 104.13% 53.55% 47.06% 45.04%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.34 $0.37 $0.43 $0.62 $0.58 $0.57 $0.57 $0.45 ($0.12) ($0.04) ($5.03)
Adjusted Weighted Average Basic Shares Outstanding		 99.02M 100.20M 101.90M 103.51M 104.56M 105.10M 106.50M 107.68M 188.88M 216.48M 216.89M
Adjusted Diluted Earnings per Share		 $0.34 $0.36 $0.43 $0.61 $0.58 $0.57 $0.57 $0.45 ($0.12) ($0.04) ($5.03)
Adjusted Weighted Average Diluted Shares Outstanding		 99.02M 100.20M 101.90M 103.51M 104.56M 105.72M 107.12M 108.02M 188.88M 216.48M 216.89M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 99.02M 100.20M 101.90M 103.51M 104.56M 105.93M 107.48M 107.84M 216.31M 216.69M 217.21M
Normalized Net Operating Profit after Tax (NOPAT)		 34 37 43 60 56 56 60 47 26 41 -1.17
Normalized NOPAT Margin		 12.10% 11.55% 11.96% 15.18% 13.56% 13.28% 12.81% 8.92% 3.19% 4.44% -0.13%
Pre Tax Income Margin		 18.40% 17.28% 18.61% 18.46% 17.62% 17.29% 16.07% 11.42% -2.68% -1.55% -126.65%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 944.28 818.61 0.55 0.72 -14.86
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 769.14 653.22 0.47 0.56 -10.37
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 601.82 479.32 -0.61 -0.80 -16.25
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 426.68 313.93 -0.69 -0.96 -11.76
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 5.21% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Neogen

This table displays calculated financial ratios and metrics derived from Neogen's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q2 2025 Q3 2025
Period end date 5/31/2022 8/31/2022 11/30/2022 2/28/2023 5/31/2023 8/31/2023 11/30/2023 2/29/2024 5/31/2024 11/30/2024 2/28/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 9.94% 3.15% 76.25% 70.19% 72.61% 73.02% -0.18% 4.84% -2.07% 0.71% -3.42%
EBITDA Growth		 -5.20% -58.03% -26.41% 239.04% 126.88% 319.68% 213.47% -3.57% -19.00% -1,174.14% -9.23%
EBIT Growth		 -8.56% -73.56% -210.98% 130.05% 33.83% 222.13% 188.11% -25.47% -54.78% -3,796.71% -32.62%
NOPAT Growth		 -10.00% -72.25% -151.32% 110.12% 19.64% 264.70% 288.94% -23.34% -46.50% -3,262.70% -54.96%
Net Income Growth		 -5.08% -69.50% -486.41% 50.47% -62.75% -71.15% 91.67% -124.69% -197.18% -12,985.23% -441.89%
EPS Growth		 -6.67% -68.75% -290.00% -20.00% -78.57% -80.00% 89.47% -125.00% -166.67% -10,400.00% -400.00%
Operating Cash Flow Growth		 -7.19% -160.93% -204.93% -358.97% 346.13% 262.69% 183.92% -76.96% -70.60% 0.00% 164.10%
Free Cash Flow Firm Growth		 47.09% -40.08% -4,065.32% -8,749.35% -9,853.24% -4,392.45% 98.79% 99.10% 97.60% 263.78% 1,590.29%
Invested Capital Growth		 10.24% 17.48% 691.19% 670.56% 647.59% 631.82% 1.32% 1.00% 2.31% -10.09% -11.43%
Revenue Q/Q Growth		 9.24% -5.53% 73.81% -5.12% 10.79% -5.30% 0.28% -0.36% 3.49% 0.00% -4.44%
EBITDA Q/Q Growth		 95.10% -53.74% 19.43% 214.50% 30.56% -14.42% -10.79% -3.25% 9.66% 0.00% 108.18%
EBIT Q/Q Growth		 190.46% -69.05% -347.79% 203.27% 68.97% -25.50% -32.23% -12.65% 2.53% 0.00% 101.59%
NOPAT Q/Q Growth		 172.94% -66.75% -213.02% 304.86% 55.41% 1.36% -41.45% -16.88% 8.46% 0.00% 101.18%
Net Income Q/Q Growth		 174.83% -65.18% -903.24% 119.57% -31.97% -73.03% -332.00% 42.01% -167.80% 0.00% 97.60%
EPS Q/Q Growth		 180.00% -64.29% -480.00% 121.05% -25.00% -66.67% -300.00% 50.00% -100.00% 0.00% 97.62%
Operating Cash Flow Q/Q Growth		 209.36% -169.36% -32.40% 8.85% 632.93% -74.71% -31.71% -292.22% 188.55% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 12.71% -127.96% -4,313.23% -0.77% 1.82% -2.89% 98.81% 24.79% -161.41% 0.00% 584.37%
Invested Capital Q/Q Growth		 1.85% 5.45% 605.68% 1.66% -1.18% 3.23% -2.29% 1.34% 0.10% 0.00% -0.17%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 46.40% 47.05% 48.92% 49.47% 50.94% 50.99% 50.85% 51.08% 47.92% 49.01% 49.90%
EBITDA Margin		 17.62% 8.63% 5.93% 19.65% 23.16% 20.93% 18.62% 18.08% 19.16% -198.57% 16.99%
Operating Margin		 12.87% 4.58% -3.33% 7.19% 9.69% 8.36% 6.30% 5.25% 5.51% -197.82% 2.45%
EBIT Margin		 13.12% 4.30% -6.13% 6.67% 10.17% 8.00% 5.41% 4.74% 4.70% -198.57% 3.31%
Profit (Net Income) Margin		 10.68% 3.94% -18.19% 3.75% 2.30% 0.66% -1.52% -0.88% -2.29% -197.30% -4.96%
Tax Burden Percent		 79.11% 78.23% 122.73% -362.39% 72.84% 90.38% 93.06% 34.73% 84.62% 95.74% 112.65%
Interest Burden Percent		 102.86% 117.03% 241.80% -15.52% 31.10% 9.07% -30.16% -53.65% -57.52% 103.78% -133.05%
Effective Tax Rate		 20.89% 21.78% 0.00% 0.00% 27.16% 9.62% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 11.12% 3.85% -0.69% 1.68% 2.70% 3.08% 1.05% 0.89% 0.93% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 10.93% 3.73% -27.48% -0.03% -5.81% -4.39% -0.99% -0.57% -1.18% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 -4.82% -1.61% -1.88% 0.00% -0.39% -0.46% -0.21% -0.13% -0.26% 0.00% 0.00%
Return on Equity (ROE)		 6.29% 2.24% -2.58% 1.67% 2.31% 2.62% 0.84% 0.76% 0.67% 0.00% 0.00%
Cash Return on Invested Capital (CROIC)		 0.00% -9.06% -154.36% -153.01% -151.58% -150.85% -0.29% 0.26% -1.21% 0.00% 0.00%
Operating Return on Assets (OROA)		 7.23% 2.39% -1.40% 1.75% 3.02% 2.65% 1.07% 0.97% 0.95% 0.00% 0.00%
Return on Assets (ROA)		 5.88% 2.19% -4.15% 0.99% 0.68% 0.22% -0.30% -0.18% -0.46% 0.00% 0.00%
Return on Common Equity (ROCE)		 6.29% 2.24% -2.58% 1.67% 2.31% 2.62% 0.84% 0.76% 0.67% 0.00% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.12% -0.52% -0.43% 0.00% -1.30% -0.07% 0.05% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 14 4.74 -5.36 11 17 17 10 8.42 9.13 -320 3.79
NOPAT Margin		 10.18% 3.58% -2.33% 5.03% 7.06% 7.55% 4.41% 3.68% 3.85% -138.48% 1.72%
Net Nonoperating Expense Percent (NNEP)		 0.18% 0.12% 26.79% 1.71% 8.51% 7.48% 2.04% 1.46% 2.11% 18.98% 1.98%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - 0.43% 0.25% 0.21% - -8.99% 0.11%
Cost of Revenue to Revenue		 53.60% 52.95% 51.08% 50.53% 49.06% 49.01% 49.15% 48.92% 52.08% 50.99% 50.10%
SG&A Expenses to Revenue		 15.53% 21.11% 33.47% 21.27% 20.60% 19.70% 22.52% 22.76% 21.52% 24.98% 25.24%
R&D to Revenue		 2.73% 3.69% 2.98% 3.33% 2.92% 2.94% 2.51% 2.12% 2.17% 2.21% 2.02%
Operating Expenses to Revenue		 33.53% 42.47% 52.25% 42.28% 41.25% 42.63% 44.55% 45.83% 42.42% 246.83% 47.45%
Earnings before Interest and Taxes (EBIT)		 18 5.69 -14 15 25 18 12 11 11 -459 7.31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 25 11 14 43 56 48 43 41 45 -459 38
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.22 2.55 0.57 1.22 1.21 1.60 1.17 1.18 0.91 1.15 0.82
Price to Tangible Book Value (P/TBV)		 4.48 3.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 5.41 4.24 2.83 5.31 4.60 5.51 4.05 4.01 3.08 0.00 0.00
Price to Earnings (P/E)		 59.06 61.84 0.00 0.00 0.00 0.00 0.00 2,376.75 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.69% 1.62% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.88 3.57 0.65 1.18 1.17 1.48 1.13 1.15 0.92 1.11 0.86
Enterprise Value to Revenue (EV/Rev)		 4.69 3.59 3.86 6.28 5.38 6.36 4.78 4.78 3.86 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 29.76 28.51 39.92 48.85 35.67 39.74 24.99 23.62 20.10 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 41.94 44.21 149.26 184.45 143.78 213.09 80.79 67.08 67.63 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 52.56 54.98 152.40 201.28 168.37 244.51 110.79 91.89 86.84 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 36.33 62.10 0.00 0.00 107.77 73.80 38.45 44.64 101.12 202.59 43.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 444.31 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.30 0.28 0.28 0.28 0.28 0.28 0.28 0.33 0.33
Long-Term Debt to Equity		 0.00 0.00 0.30 0.28 0.28 0.28 0.28 0.28 0.28 0.33 0.33
Financial Leverage		 -0.44 -0.43 0.07 0.08 0.07 0.11 0.21 0.23 0.22 0.25 0.26
Leverage Ratio		 1.11 1.10 1.39 1.37 1.38 1.36 1.47 1.45 1.45 1.49 1.48
Compound Leverage Factor		 1.14 1.28 3.37 -0.21 0.43 0.12 -0.44 -0.78 -0.83 1.54 -1.97
Debt to Total Capital		 0.00% 0.00% 22.93% 22.06% 22.03% 22.09% 22.03% 22.01% 22.03% 25.06% 25.08%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.00% 0.00% 0.07% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 22.93% 22.06% 22.03% 22.09% 21.97% 22.01% 22.03% 24.99% 25.08%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 77.07% 77.94% 77.97% 77.91% 77.97% 77.99% 77.97% 74.94% 74.92%
Debt to EBITDA		 0.00 0.00 15.16 9.55 7.14 6.12 5.13 4.72 5.01 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 10.63 7.57 5.16 5.29 3.81 3.82 4.04 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 15.16 9.55 7.14 6.12 5.12 4.72 5.01 0.00 0.00
Debt to NOPAT		 0.00 0.00 57.87 39.35 33.72 37.68 22.76 18.37 21.63 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 40.56 31.20 24.37 32.57 16.87 14.88 17.47 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 57.87 39.35 33.72 37.68 22.69 18.37 21.63 0.00 0.00
Altman Z-Score		 18.30 16.52 1.16 2.12 2.09 2.69 2.01 2.05 1.71 0.00 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 8.05 9.07 4.22 5.18 4.03 4.41 3.54 3.82 3.82 3.77 3.91
Quick Ratio		 6.18 6.58 2.75 3.08 2.74 2.35 2.16 2.17 2.23 2.01 2.04
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -33 -75 -3,297 -3,322 -3,262 -3,356 -40 -30 -78 65 446
Operating Cash Flow to CapEx		 162.63% -108.83% -162.83% -113.23% 358.70% 75.22% 64.44% -94.01% 110.49% 0.00% 59.68%
Free Cash Flow to Firm to Interest Expense		 0.00 -37,353.50 -160.48 -190.29 -181.68 -181.85 -2.21 -1.64 -4.20 3.59 25.14
Operating Cash Flow to Interest Expense		 0.00 -7,071.50 -0.91 -0.98 5.07 1.25 0.87 -1.65 1.44 0.00 1.09
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -13,569.50 -1.47 -1.84 3.65 -0.41 -0.48 -3.41 0.14 0.00 -0.74
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.55 0.56 0.23 0.26 0.30 0.33 0.20 0.20 0.20 0.00 0.00
Accounts Receivable Turnover		 5.51 5.89 5.36 6.02 6.50 6.96 6.18 5.81 5.67 0.00 0.00
Inventory Turnover		 2.55 2.47 2.74 2.90 3.25 2.80 3.06 2.79 2.85 0.00 0.00
Fixed Asset Turnover		 5.00 4.82 5.07 5.35 5.32 4.30 4.62 4.25 3.88 0.00 0.00
Accounts Payable Turnover		 9.71 11.57 5.88 8.88 7.49 10.36 4.74 6.07 5.76 0.00 0.00
Days Sales Outstanding (DSO)		 66.30 61.98 68.06 60.61 56.12 52.46 59.02 62.84 64.42 0.00 0.00
Days Inventory Outstanding (DIO)		 143.24 147.54 133.06 125.88 112.23 130.42 119.28 130.68 128.09 0.00 0.00
Days Payable Outstanding (DPO)		 37.58 31.54 62.10 41.12 48.76 35.22 76.99 60.18 63.33 0.00 0.00
Cash Conversion Cycle (CCC)		 171.95 177.97 139.02 145.37 119.59 147.67 101.31 133.34 129.19 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 506 534 3,768 3,830 3,785 3,907 3,818 3,869 3,873 3,432 3,427
Invested Capital Turnover		 1.09 1.07 0.30 0.33 0.38 0.41 0.24 0.24 0.24 0.00 0.00
Increase / (Decrease) in Invested Capital		 47 79 3,292 3,333 3,279 3,373 50 38 87 -385 -442
Enterprise Value (EV)		 2,472 1,906 2,433 4,525 4,422 5,770 4,330 4,441 3,566 3,825 2,943
Market Capitalization		 2,853 2,253 1,786 3,824 3,782 5,001 3,671 3,722 2,848 3,073 2,180
Book Value per Share		 $8.23 $8.20 $28.81 $14.46 $14.50 $14.49 $14.55 $14.53 $14.52 $12.32 $12.26
Tangible Book Value per Share		 $5.91 $6.76 ($6.10) ($2.98) ($2.81) ($2.27) ($2.57) ($2.45) ($2.32) ($2.15) ($2.08)
Total Capital		 887 884 4,030 4,010 4,020 4,024 4,037 4,034 4,033 3,562 3,551
Total Debt		 0.00 0.00 924 885 885 889 889 888 888 892 891
Total Long-Term Debt		 0.00 0.00 924 885 885 889 887 888 888 890 891
Net Debt		 -381 -348 648 701 640 769 659 719 717 752 763
Capital Expenditures (CapEx)		 13 13 12 15 25 31 24 32 24 0.00 32
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 168 193 214 265 195 297 220 276 264 282 283
Debt-free Net Working Capital (DFNWC)		 549 541 491 448 440 418 450 445 435 422 411
Net Working Capital (NWC)		 549 541 491 448 440 418 448 445 435 419 411
Net Nonoperating Expense (NNE)		 -0.70 -0.47 36 2.79 11 16 14 10 15 136 15
Net Nonoperating Obligations (NNO)		 -381 -350 662 705 651 772 670 723 728 763 766
Total Depreciation and Amortization (D&A)		 6.30 5.73 28 28 31 30 30 31 34 0.00 30
Debt-free, Cash-free Net Working Capital to Revenue		 31.85% 36.37% 34.00% 36.77% 23.70% 32.80% 24.27% 29.72% 28.56% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 104.13% 101.83% 77.81% 62.19% 53.55% 46.08% 49.67% 47.85% 47.06% 0.00% 0.00%
Net Working Capital to Revenue		 104.13% 101.83% 77.81% 62.19% 53.55% 46.08% 49.39% 47.85% 47.06% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.14 $0.05 ($0.19) $0.04 $0.03 $0.01 ($0.02) ($0.01) ($0.02) ($2.10) ($0.05)
Adjusted Weighted Average Basic Shares Outstanding		 107.68M 107.84M 216.13M 216.22M 188.88M 216.31M 216.41M 216.60M 216.48M 216.81M 217.03M
Adjusted Diluted Earnings per Share		 $0.14 $0.05 ($0.19) $0.04 $0.03 $0.01 ($0.02) ($0.01) ($0.02) ($2.10) ($0.05)
Adjusted Weighted Average Diluted Shares Outstanding		 108.02M 107.86M 216.13M 216.40M 188.88M 216.85M 216.41M 216.60M 216.48M 216.81M 217.03M
Adjusted Basic & Diluted Earnings per Share		 $0.14 $0.00 $0.00 $0.00 $0.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 107.84M 107.84M 216.15M 216.22M 216.31M 216.70M 216.52M 216.61M 216.69M 216.94M 217.04M
Normalized Net Operating Profit after Tax (NOPAT)		 14 4.74 -5.36 11 17 17 10 8.42 9.13 2.73 3.79
Normalized NOPAT Margin		 10.18% 3.58% -2.33% 5.03% 7.06% 7.55% 4.41% 3.68% 3.85% 1.18% 1.72%
Pre Tax Income Margin		 13.50% 5.03% -14.82% -1.04% 3.16% 0.73% -1.63% -2.54% -2.70% -206.08% -4.40%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 2,845.00 -0.69 0.83 1.37 0.99 0.69 0.59 0.60 -25.31 0.41
NOPAT to Interest Expense		 0.00 2,371.00 -0.26 0.63 0.95 0.94 0.56 0.46 0.49 -17.65 0.21
EBIT Less CapEx to Interest Expense		 0.00 -3,653.00 -1.25 -0.03 -0.04 -0.66 -0.66 -1.16 -0.70 0.00 -1.42
NOPAT Less CapEx to Interest Expense		 0.00 -4,127.00 -0.82 -0.23 -0.46 -0.72 -0.79 -1.30 -0.81 0.00 -1.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Key Financial Trends

Neogen Corporation (NASDAQ: NEOG) has exhibited mixed financial performance over the past four years spanning from Q3 2022 to Q4 2025. Below are the key trends observed from the income statements, cash flow statements, and balance sheets:

  • Revenue Growth: Operating revenue increased from approximately $128 million in Q3 2022 to around $221 million in Q3 2025, showing solid organic growth over three years.
  • Strong Gross Profit Margins: Gross profit has remained healthy, consistently above $100 million per quarter for recent periods, indicating effective cost control relative to revenue.
  • Cash Flow from Operating Activities: Despite occasional quarterly losses, operating cash flow fluctuated positively, reaching $26-27 million in some quarters of 2024 and $16-19 million in 2025, demonstrating operational cash generation capacity.
  • Capital Expenditures: Significant investments in property, plant, and equipment ranging mostly between $12 million to $32 million per quarter highlight ongoing investment in growth and capacity.
  • Consistent Equity Base: Total shareholders’ equity remained robust, steady around $3.1 to $3.14 billion in 2024, and maintained above $2.6 billion in 2025, supporting financial stability.
  • Net Income Volatility: Net income has been highly variable, swinging from earnings in early 2023 and Q4 2023 to substantial losses in 2024 and negative results continuing into 2025, including a dramatic net loss of -$612 million in Q4 2025 largely driven by a high impairment charge.
  • Impairment Charges Impacting Profitability: A major non-cash impairment charge of about $461 million in Q2 2025 and an earlier charge led to severe operating losses and depressed net income, indicating asset write-downs adversely affecting results.
  • Debt Levels: Long-term debt remains significant, hovering around $890 million through 2024 and into 2025, indicating leverage that may bear interest expenses but supports operations and investments.
  • Declining Net Income and EPS: Negative net income quarters in 2024 and 2025 coincide with diluted EPS dropping from positive ranges (~$0.03 quarterly in 2023) to negative values near -$2.1 in Q2 2025, signaling profit challenges.
  • Cash Reduction and Financing Outflows: Cash and equivalents saw notable declines in some quarters due to investments and financing outflows, including debt repayments and equity issuance dilution which may affect future liquidity and shareholder value.

Summary: Neogen has demonstrated steady revenue growth and maintained strong gross profit margins, supported by consistent investments in its operations. However, the financial performance has recently been impacted by substantial impairment charges and ongoing net income losses, leading to steep declines in earnings per share. The company's balance sheet remains solid with considerable equity and manageable debt. Investors should watch for recovery in net income and improved profitability metrics while considering the risks from impairment and leverage going forward.

08/15/25 06:12 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Neogen's Financials

When does Neogen's financial year end?

According to the most recent income statement we have on file, Neogen's fiscal year ends in May. Their fiscal year 2025 ended on May 31, 2025.

How has Neogen's net income changed over the last 10 years?

Neogen's net income appears to be on an upward trend, with a most recent value of -$1.09 billion in 2025, falling from $33.58 million in 2015. The previous period was -$9.42 million in 2024. Check out Neogen's forecast to explore projected trends and price targets.

What is Neogen's operating income?
Neogen's total operating income in 2025 was -$1.06 billion, based on the following breakdown:
  • Total Gross Profit: $421.38 million
  • Total Operating Expenses: $1.48 billion
How has Neogen's revenue changed over the last 10 years?

Over the last 10 years, Neogen's total revenue changed from $283.07 million in 2015 to $894.66 million in 2025, a change of 216.1%.

How much debt does Neogen have?

Neogen's total liabilities were at $1.37 billion at the end of 2025, a 2.3% decrease from 2024, and a 3,230.1% increase since 2015.

How much cash does Neogen have?

In the past 10 years, Neogen's cash and equivalents has ranged from $41.69 million in 2019 to $170.61 million in 2024, and is currently $129.00 million as of their latest financial filing in 2025.

How has Neogen's book value per share changed over the last 10 years?

Over the last 10 years, Neogen's book value per share changed from 9.48 in 2015 to 9.54 in 2025, a change of 0.7%.


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This page (NASDAQ:NEOG) was last updated on 8/15/2025 by MarketBeat.com Staff
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