NEOG · Neogen Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $894.66M | $924.22M | $822.45M | $527.16M | $468.46M | $418.17M |
| Cost of Revenue | $460.32M | $460.32M | $416.49M | $284.15M | $253.40M | $221.89M |
| Gross Profit | $421.38M | $463.90M | $405.95M | $243.01M | $215.06M | $196.28M |
| R&D | $21.09M | $22.48M | $26.04M | $17.05M | $16.25M | $14.75M |
| SG&A | $218.17M | $199.89M | $201.18M | $82.74M | $51.20M | $44.33M |
| Total Operating Expenses | $1.48B | $405.24M | $368.44M | $184.40M | $140.89M | $128.76M |
| D&A | $119.48M | $116.72M | $88.38M | $23.69M | $21.04M | $18.40M |
| Operating Income | ($1.06B) | $58.66M | $37.52M | $58.62M | $74.17M | $67.52M |
| Interest Expense | $38.12M | $42.15M | $27.25M | - | - | - |
| Income Tax | ($41.07M) | ($4.88M) | $828.0K | $11.90M | $14.39M | $12.83M |
| Net Income | ($1.09B) | ($9.42M) | ($22.87M) | $48.31M | $60.88M | $59.48M |
| EPS - Basic | ($5.03) | ($0.04) | ($0.12) | $0.45 | $0.57 | $0.56 |
| EPS - Diluted | ($5.03) | ($0.04) | ($0.12) | $0.45 | $0.57 | $0.56 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $129.00M | $170.61M | $163.24M | $44.47M | $75.60M | $66.27M |
| Accounts Receivable | $153.38M | $173.00M | $153.25M | $99.67M | $91.82M | $84.68M |
| Inventory | $190.86M | $189.27M | $133.81M | $122.31M | $100.70M | $95.05M |
| Accounts Payable | $79.61M | $83.06M | $76.67M | $34.61M | $23.90M | $25.65M |
| Current Assets | $576.94M | $589.23M | $585.93M | $626.80M | $591.45M | $537.41M |
| Total Assets | $3.44B | $4.55B | $4.55B | $992.93M | $920.19M | $797.18M |
| Current Liabilities | $174.01M | $154.32M | $145.47M | $77.84M | $53.60M | $48.49M |
| Long-term Debt | $874.81M | $888.39M | $885.44M | - | - | - |
| Total Liabilities | $1.37B | $1.40B | $1.42B | $105.56M | $79.81M | $72.00M |
| Stockholders' Equity | $2.07B | $3.14B | $3.13B | $887.37M | $840.38M | $725.18M |
| Retained Earnings | ($536.42M) | $555.62M | $565.04M | $587.91M | $539.60M | $478.72M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $58.24M | $35.26M | $41.03M | $68.04M | $81.09M | $85.88M |
| Investing Cash Flow | ($99.19M) | ($29.31M) | $201.04M | ($97.23M) | ($105.56M) | ($88.78M) |
| Financing Cash Flow | ($1.60M) | $1.92M | ($118.08M) | $6.81M | $33.54M | $29.41M |
| CapEx | $104.59M | $111.42M | $65.76M | $24.43M | $26.71M | $24.05M |
| Free Cash Flow | ($46.35M) | ($76.16M) | ($24.73M) | $43.61M | $54.38M | $61.83M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 47.1% | 50.2% | 49.4% | 46.1% | 45.9% | 46.9% |
| Operating margin | -118.6% | 6.3% | 4.6% | 11.1% | 15.8% | 16.1% |
| EBITDA margin | -105.2% | 19.0% | 15.3% | 15.6% | 20.3% | 20.5% |
| Net margin | -122.1% | -1.0% | -2.8% | 9.2% | 13.0% | 14.2% |
| Free cash flow margin | -5.2% | -8.2% | -3.0% | 8.3% | 11.6% | 14.8% |
| FCF / Net income | 0.04 | 8.08 | 1.08 | 0.90 | 0.89 | 1.04 |
| R&D / Revenue | 2.4% | 2.4% | 3.2% | 3.2% | 3.5% | 3.5% |
| SG&A / Revenue | 24.4% | 21.6% | 24.5% | 15.7% | 10.9% | 10.6% |
| Effective tax rate | - | - | - | 19.8% | 19.1% | 17.7% |
| Return on assets | -31.7% | -0.2% | -0.5% | 4.9% | 6.6% | 7.5% |
| Return on equity | -52.7% | -0.3% | -0.7% | 5.4% | 7.2% | 8.2% |
| Return on invested capital | -28.5% | 1.1% | 0.7% | - | - | - |
| Liquidity | ||||||
| Current ratio | 3.32 | 3.82 | 4.03 | 8.05 | 11.03 | 11.08 |
| Quick ratio | 2.22 | 2.59 | 3.11 | 6.48 | 9.16 | 9.12 |
| Cash ratio | 0.74 | 1.11 | 1.12 | 0.57 | 1.41 | 1.37 |
| Leverage | ||||||
| Debt / Equity | 0.42 | 0.28 | 0.28 | - | - | - |
| Debt / Assets | 0.25 | 0.20 | 0.19 | - | - | - |
| Debt / EBITDA | - | 5.07 | 7.03 | - | - | - |
| Interest coverage | -27.8x | 1.4x | 1.4x | - | - | - |
| Equity multiplier | 1.66 | 1.45 | 1.45 | 1.12 | 1.09 | 1.10 |
| Liabilities / Assets | 0.40 | 0.31 | 0.31 | 0.11 | 0.09 | 0.09 |
| Efficiency | ||||||
| Asset turnover | 0.26 | 0.20 | 0.18 | 0.53 | 0.51 | 0.52 |
| Inventory turnover | 2.41 | 2.43 | 3.11 | 2.32 | 2.52 | 2.33 |
| Days sales outstanding | 63d | 68d | 68d | 69d | 72d | 74d |
| Days inventory outstanding | 151d | 150d | 117d | 157d | 145d | 156d |
| Days payable outstanding | 63d | 66d | 67d | 44d | 34d | 42d |
| Cash conversion cycle | 151d | 153d | 118d | 182d | 182d | 188d |
| Valuation | ||||||
| P / E | - | - | - | 58.8x | 81.0x | 63.0x |
| P / B | 0.6x | 0.9x | 1.1x | 3.2x | 5.9x | 2.6x |
| P / S | 1.4x | 3.1x | 4.0x | 5.4x | 10.6x | 4.5x |
| EV / EBITDA | - | 20.3x | 32.0x | 34.2x | 51.1x | 21.1x |
| Growth | ||||||
| Revenue growth (YoY) | -3.2% | 12.4% | 56.0% | 12.5% | 12.0% | 1.0% |
| Revenue CAGR (3y) | 19.3% | 25.4% | 25.3% | 8.4% | 13.4% | 5.0% |
| Revenue CAGR (5y) | 16.4% | 17.4% | 20.7% | 7.8% | 7.8% | 8.1% |
| Gross profit growth (YoY) | -9.2% | 14.3% | 67.1% | 13.0% | 9.6% | 2.3% |
| Operating income growth (YoY) | - | 56.4% | -36.0% | -21.0% | 9.8% | -0.8% |
| Net income growth (YoY) | -11491.6% | 58.8% | - | -20.7% | 2.4% | -1.2% |
| EPS growth (YoY) | -12475.0% | 66.7% | - | -21.1% | 0.9% | -50.9% |
| EPS CAGR (3y) | - | - | - | -26.9% | -22.2% | -20.9% |
| EPS CAGR (5y) | - | - | - | -17.0% | -10.1% | -8.9% |
| FCF growth (YoY) | 39.1% | -208.0% | - | -19.8% | -12.0% | 25.7% |
| FCF CAGR (5y) | - | - | - | -0.9% | 20.8% | 38.7% |
| Book value growth (YoY) | -34.1% | 0.3% | 253.2% | 5.6% | 15.9% | 13.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-05-31.
Business segments
$894.66M totalFood Safety$638.14M · 71.3%
Animal Safety$256.52M · 28.7%
Product / service
$1.64B totalProduct$797.32M · 48.8%
Indicator Testing Culture Media And Other$325.92M · 19.9%
Bacterial And General Sanitation$164.78M · 10.1%
Service$97.35M · 6.0%
Natural Toxins And Allergens$77.06M · 4.7%
Veterinary Instruments And Disposables$61.47M · 3.8%
Rodenticides Insecticides And Disinfectants$46.97M · 2.9%
Animal Care And Other$34.65M · 2.1%
Genomics Services$23.42M · 1.4%
Life Sciences$6.50M · 0.4%
Geographic
$894.66M totalNon Us$448.73M · 50.2%
US$445.94M · 49.8%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-0.11
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: In Vitro & In Vivo Diagnostic Substances
Comparing NEOGEN CORP against the 5 most active filers in the same SIC group.