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Neogen Corp

NEOG Nasdaq In Vitro & In Vivo Diagnostic Substances Financials FY2017–FY2026

Last close · Oct 23, 2026

$12.19

1.8%
Compare
Revenue Total sales reported in the income statement.
$870M
2.7% vs prior year
Operating margin Operating income as a share of revenue.
−2.5%
116.1 pts
Net income Profit after all expenses, interest and tax.
−$7.9M
Free cash flow Cash from operations minus capital spending.
$31.9M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−0.6%
28.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$2.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.26 EPS (TTM)

What Neogen Corp does

No business description yet.

Legal name
NEOGEN CORP
Fiscal year ends
May 31, 2026
Latest annual report
10-K · Jul 30, 2026
Accession · CIK
0001193125-26-326092
0000711377

Revenue and margins

Neogen Corp had $870M of revenue in fiscal 2026, down 2.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $31.9M in fiscal 2026, 3.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Neogen Corp returned — to shareholders in fiscal 2026. The diluted share count rose 0.3%.

Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Neogen Corp can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $381M$246M$171M$129M$186M
Debt incl. finance leases $0.0M$1.8B$893M$897M$794M
Net debt / EBITDA −4.6x12.2x4.1x—6.4x
Debt / equity 0.0x0.6x0.3x0.4x0.4x
Interest coverage —1.4x1.4x−27.8x−0.9x
Current ratio 8.1x4.0x3.8x3.3x3.8x
Quick ratio 6.5x3.1x2.6x2.2x2.9x
Total assets $993M$4.6B$4.5B$3.4B$3.3B
Total liabilities $106M$1.4B$1.4B$1.4B$1.3B
Shareholders' equity $887M$3.1B$3.1B$2.1B$2.1B
Net debt (− = net cash) −$381M$1.5B$722M$768M$608M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Net income is positive ✓ ✓ ✓ ✓ ✓ ✓ ✕ ✕ ✕ ✕
Cash from operations is positive ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Return on assets rose — ✓ ✕ ✕ ✕ ✕ ✕ ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Debt fell relative to assets — — — — — — ✕ ✓ ✕ ✓
Current ratio rose — ✓ ✓ ✕ ✕ ✕ ✕ ✕ ✕ ✓
Share count didn't rise — ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕ ✕
Gross margin rose — ✕ ✕ ✓ ✕ ✓ ✓ ✓ ✕ ✕
Revenue rose relative to assets — ✕ ✕ ✕ ✕ ✓ ✕ ✓ ✓ ✓
F-score — / 35 / 84 / 84 / 83 / 85 / 83 / 96 / 93 / 96 / 9
Accruals ratio −3.1%−1.0%−0.6%−3.5%−2.4%−2.1%−2.3%−1.0%−28.8%−2.7%
Altman Z'' 14.5816.4118.0817.1217.3414.783.413.46−0.232.06

10 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $358M $398M $414M $418M $468M $527M $822M $924M $895M $870M
Gross profit $169M $186M $192M $196M $215M $243M $406M $464M $421M $409M
Research and development $10.4M $10.9M $12.8M $14.8M $16.2M $17.0M $26.0M $22.5M $21.1M $18.4M
Operating income $64.9M $70.2M $68.1M $67.5M $74.2M $58.6M $37.5M $58.6M −$1.1B −$21.6M
Interest expense — — — — — — $27.3M $42.2M $38.1M $24.1M
Pretax income $66.7M $73.5M $73.0M $72.3M $75.3M $60.2M −$22.0M −$14.3M −$1.1B −$9.0M
Income tax $22.7M $10.3M $12.8M $12.8M $14.4M $11.9M $0.8M −$4.9M −$41.1M −$1.1M
Net income $43.8M $63.1M $60.2M $59.5M $60.9M $48.3M −$22.9M −$9.4M −$1.1B −$7.9M
Diluted EPS $0.86 $1.21 $0.57 $0.56 $0.57 $0.45 −$0.12 −$0.04 −$5.03 −$0.04
Diluted shares 0.05B 0.05B 0.10B 0.11B 0.11B 0.11B 0.19B 0.22B 0.22B 0.22B
Cash flow
Cash from operations $60.3M $69.1M $63.8M $85.9M $81.1M $68.0M $41.0M $35.3M $58.2M $83.2M
Capital expenditure $14.6M $20.9M $14.7M $24.1M $26.7M $24.4M $65.8M $111M $105M $51.3M
Free cash flow $45.7M $48.2M $49.2M $61.8M $54.4M $43.6M −$24.7M −$76.1M −$46.4M $31.9M
Depreciation and amortization $14.7M $17.1M $17.6M $18.4M $21.0M $23.7M $88.4M $117M $120M $116M
Stock-based compensation $5.3M $4.9M $5.5M $6.5M $6.4M $7.2M $10.2M $13.8M $17.3M $13.4M
Acquisitions $34.0M $0.5M $6.4M $13.2M $50.8M $38.7M −$11.7M $0.0M $0.0M —
Share buybacks — — $3.1M — — — — — — —
Dividends and buybacks — — $3.1M — — — — — — —
Balance sheet
Cash and short-term investments $144M $211M $268M $344M $381M $381M $246M $171M $129M $186M
Total debt — — — — — $0.0M $1.8B $891M $894M $794M
Finance lease liabilities — — — — — — — $2.4M $2.4M $0.0M
Current assets $293M $376M $450M $537M $591M $627M $586M $589M $577M $605M
Current liabilities $36.0M $38.7M $38.3M $48.5M $53.6M $77.8M $145M $154M $174M $158M
Inventory $73.1M $76.0M $86.0M $95.1M $101M $122M $134M $189M $191M $144M
Property and equipment, net $61.7M $73.1M $74.8M $78.7M $100M $111M $199M $277M $339M $330M
Goodwill $105M $99.6M $104M $110M $131M $143M $2.1B $2.1B $1.1B $1.0B
Intangible assets $54.6M $54.7M $52.1M $51.4M $76.8M $92.1M $1.6B $1.5B $1.4B $1.3B
Total assets $528M $618M $696M $797M $920M $993M $4.6B $4.5B $3.4B $3.3B
Total liabilities $56.7M $57.8M $57.8M $72.0M $79.8M $106M $1.4B $1.4B $1.4B $1.3B
Preferred stock — $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M —
Shareholders' equity $472M $560M $638M $725M $840M $887M $3.1B $3.1B $2.1B $2.1B
Margins
Gross margin 47.1% 46.8% 46.3% 46.9% 45.9% 46.1% 49.4% 50.2% 47.1% 46.9%
Operating margin 18.1% 17.6% 16.4% 16.1% 15.8% 11.1% 4.6% 6.3% −118.6% −2.5%
EBITDA margin 22.2% 21.9% 20.7% 20.5% 20.3% 15.6% 15.3% 19.0% −105.2% 10.9%
Net margin 12.2% 15.9% 14.5% 14.2% 13.0% 9.2% −2.8% −1.0% −122.1% −0.9%
FCF margin 12.8% 12.1% 11.9% 14.8% 11.6% 8.3% −3.0% −8.2% −5.2% 3.7%
Returns
Return on capital — — — — — 9.3% 0.6% 1.2% −29.6% −0.6%
Return on capital employed 13.2% 12.1% 10.4% 9.0% 8.6% 6.4% 0.9% 1.3% −32.4% −0.7%
Return on equity 9.3% 12.2% 10.0% 8.7% 7.8% 5.6% −1.1% −0.3% −41.9% −0.4%
Return on assets 8.3% 11.0% 9.2% 8.0% 7.1% 5.1% −0.8% −0.2% −27.3% −0.2%
Return on tangible equity 14.0% 15.6% 12.5% 10.6% 9.6% 7.4% — — — —
Growth
Revenue growth — 11.1% 4.1% 1.0% 12.0% 12.5% 56.0% 12.4% −3.2% −2.7%
Net income growth — 44.2% −4.7% −1.2% 2.4% −20.7% −147.3% — — —
EPS growth — 40.7% −52.9% −1.8% 1.8% −21.1% −126.7% — — —
FCF growth — 5.4% 2.1% 25.7% −12.0% −19.8% −156.7% — — —
Share count change — 1.9% 101.1% 0.8% 1.3% 0.8% 74.9% 14.6% 0.2% 0.3%
Financial health
Net debt / EBITDA — — — — — −4.6x 12.2x 4.1x — 6.4x
Debt / equity — — — — — 0.0x 0.6x 0.3x 0.4x 0.4x
Interest coverage — — — — — — 1.4x 1.4x −27.8x −0.9x
Current ratio 8.1x 9.7x 11.8x 11.1x 11.0x 8.1x 4.0x 3.8x 3.3x 3.8x
Quick ratio 6.1x 7.7x 9.5x 9.1x 9.2x 6.5x 3.1x 2.6x 2.2x 2.9x
Capital allocation
Capex / revenue 4.1% 5.3% 3.5% 5.8% 5.7% 4.6% 8.0% 12.1% 11.7% 5.9%
Stock comp / revenue 1.5% 1.2% 1.3% 1.5% 1.4% 1.4% 1.2% 1.5% 1.9% 1.5%
Payouts / FCF — — 6.4% — — — — — — —
Quality scores
Piotroski F-score — 5.0 4.0 4.0 3.0 5.0 3.0 6.0 3.0 6.0
Altman Z'' 14.6 16.4 18.1 17.1 17.3 14.8 3.4 3.5 −0.2 2.1
Accruals ratio −3.1% −1.0% −0.6% −3.5% −2.4% −2.1% −2.3% −1.0% −28.8% −2.7%

Source: SEC EDGAR XBRL filings (CIK 0000711377). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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