NEOGNasdaqIn Vitro & In Vivo Diagnostic SubstancesFiscal year ends May 31
NEOGEN CORP
Financials through Q1 FY2027, quarter ended Aug 31, 2026Last filing: 10-Q on Oct 7, 2026
$11.63−0.18 (-1.52%)
Close on Oct 19, 2026
- Market cap
- $2.54B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
46.9%+1.0 pts over 5 years
Operating margin
-2.5%−18.3 pts over 5 years
Net margin
-0.9%−13.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.7% | +1.9% | +13.2% | +10.5% | |
| Gross profit | -3.1% | +0.2% | +13.7% | +10.3% | |
| Free cash flow | – | – | -10.1% | +4.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 10.0% | 7.8% | -0.4% | |
| Return on assets | 9.0% | 7.1% | -0.2% | |
| Current ratio | 8.14 | 11.03 | 3.82 | |
| Debt to equity | – | – | 0.76 | |
| Net debt to EBITDA | – | – | 14.87× | |
| Interest coverage | – | – | -0.9× | |
| Inventory turnover | 2.8× | 2.6× | 2.8× | |
| Capex to revenue | 4.1% | 5.7% | 5.9% | |
| Diluted shares | 102M | 107M | 218M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Neogen generated $285.77M from operations and spent $357.49M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$285.77M
Used
$357.49M
Capital expenditure$357.49M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-0.9%
×Asset turnover0.26×
×Equity multiplier1.63×
=Return on equity, FY2026-0.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -0.9% | 0.26× | 1.63× | -0.4% |
| FY2025 | -122.1% | 0.22× | 1.53× | -41.9% |
| FY2024 | -1.0% | 0.20× | 1.45× | -0.3% |
| FY2023 | -2.8% | 0.30× | 1.38× | -1.1% |
| FY2022 | 9.2% | 0.55× | 1.11× | 5.6% |
| FY2021 | 13.0% | 0.55× | 1.10× | 7.8% |
| FY2020 | 14.2% | 0.56× | 1.10× | 8.7% |
| FY2019 | 14.5% | 0.63× | 1.10× | 10.0% |
| FY2018 | 15.9% | 0.69× | 1.11× | 12.2% |
| FY2017 | 12.2% | 0.73× | 1.12× | 10.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
6of 9 tests passed in fiscal 2026. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$7.90M
- Cash generatingOperating cash flow above zero$83.20M
- Return on assets improvedROA up on the prior year-24.0% → -0.2%
- Earnings backed by cashOperating cash flow above net income$83.20M vs -$7.90M
- Less leverageLong-term debt to assets fell25.4% → 23.7%
- Better liquidityCurrent ratio rose3.32 → 3.82
- No dilutionShare count did not rise217M → 218M
- Gross margin improvedGross margin up on the prior year47.10% → 46.93%
- More efficientAsset turnover rose0.20 → 0.25