NEOG Chart
About

Neogen Corporation develops, manufactures, and markets various products and services for food and animal safety in the United States and internationally. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and complementary products to detect dangerous and unintended substances in human food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns, as well as food quality and nutritional components. It also provides software systems that help testers analyze and store results; natural toxin tests; rapid sanitation tests; culture and prepared media products; filter tests for microbial analysis of water; sample collection products; and food safety analysis laboratory services. This segment sells its products to the milling and grain, meat and poultry, ready-to-eat, fruits and vegetables, seafood, dairy, beverage, water, healthcare, traditional culture media markets, food service, and dietary supplements markets. Its Animal Safety segment provides reagents and test kits for use in immunoassay production, forensic and animal toxicology, and life science research, as well as colorimetric and chemiluminescent substrates; veterinary instruments and disposables; animal care and other products, including digestive aids and nutritional supplements; rodent and insect control products, and disinfectants; and genomics services, such as DNA genotyping, sequencing, and trait analysis for livestock and companion animals. This segment sells its products to companion animal veterinarians; livestock producers, veterinarians, and breed associations; retailers; breeding and genetics companies; diagnostic labs and universities; distributors; and other manufacturers and government agencies. Neogen Corporation was incorporated in 1981 and is headquartered in Lansing, Michigan.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Medical Devices Market Cap 2.09B
Enterprise Value 2.76B Income -602.74M Sales 880.32M
Book/sh 9.68 Cash/sh 0.67 Dividend Yield —
Payout 0.00% Employees 2974 IPO —
P/E — Forward P/E 29.66 PEG —
P/S 2.37 P/B 0.99 P/C —
EV/EBITDA 30.54 EV/Sales 3.13 Quick Ratio 1.89
Current Ratio 3.91 Debt/Eq 37.78 LT Debt/Eq —
EPS (ttm) -2.78 EPS next Y 0.32 EPS Growth —
Revenue Growth -2.80% Earnings 2026-04-08 ROA -0.46%
ROE -25.25% ROIC — Gross Margin 45.98%
Oper. Margin -2.39% Profit Margin -68.47% Shs Outstand 217.53M
Shs Float 216.36M Short Float 6.43% Short Ratio 3.22
Short Interest — 52W High 11.43 52W Low 3.87
Beta 1.95 Avg Volume 3.70M Volume 81.72K
Target Price $11.67 Recom Buy Prev Close $9.70
Price $9.59 Change -1.13%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$11.67
Mean price target
2. Current target
$9.59
Latest analyst target
3. DCF / Fair value
$-0.08
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$9.59
Low
$10.00
High
$13.00
Mean
$11.67

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-12 reit Piper Sandler Neutral → Neutral $10
2026-01-09 main Guggenheim Buy → Buy $12
2025-12-10 up CJS Securities Market Perform → Market Outperform $10
2025-10-16 reit Piper Sandler Neutral → Neutral $7
2025-09-29 init CJS Securities — → Market Perform $10
2025-07-29 down William Blair Outperform → Market Perform —
2025-06-30 main Guggenheim Buy → Buy $10
2025-04-22 main Piper Sandler Neutral → Neutral $5
2025-04-14 main Piper Sandler Neutral → Neutral $7
2025-04-10 main Guggenheim Buy → Buy $13
2025-01-21 reit Piper Sandler Neutral → Neutral $13
2024-12-19 init Guggenheim — → Buy $15
2024-08-06 main Piper Sandler Neutral → Neutral $18
2024-04-15 main Piper Sandler Neutral → Neutral $17
2024-01-18 main Piper Sandler Neutral → Neutral $19
2023-10-16 main Piper Sandler Neutral → Neutral $18
2023-08-14 main Wells Fargo Overweight → Overweight $28
2023-06-16 init Wells Fargo — → Overweight $22
2022-12-15 main Piper Sandler — → Neutral $17
2022-11-22 up William Blair Market Perform → Outperform —
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 23 252 — Purchase at price 10.94 per share. NASSIF MIKHEAL Chief Executive Officer — 2026-02-17 00:00:00 I
1 49 486 — Purchase at price 9.86 - 10.00 per share. NASSIF MIKHEAL Chief Executive Officer — 2026-02-02 00:00:00 I
2 137 1279 — Purchase at price 9.33 per share. NASSIF MIKHEAL Chief Executive Officer — 2026-01-16 00:00:00 I
3 50813 375000 — Stock Award(Grant) at price 7.38 per share. RANALLI TAMARA A Officer — 2026-01-07 00:00:00 D
4 101626 750000 — Stock Award(Grant) at price 7.38 per share. RANALLI TAMARA A Officer — 2026-01-07 00:00:00 D
5 12912 77214 — Conversion of Exercise of derivative security at price 5.98 per share. NAEMURA DAVID HARTMAN Former — 2025-12-01 00:00:00 D
6 178855 1124998 — Stock Award(Grant) at price 6.29 per share. RIGGSBEE RICHARD BRYAN Chief Financial Officer — 2025-11-03 00:00:00 D
7 177 1106 — Purchase at price 6.25 per share. NASSIF MIKHEAL Chief Executive Officer — 2025-11-03 00:00:00 I
8 1777 11000 — Conversion of Exercise of derivative security at price 6.19 per share. TOBIN JAMES P Director — 2025-10-27 00:00:00 D
9 3553 21567 — Conversion of Exercise of derivative security at price 6.07 per share. BOEHM WILLIAM T Director — 2025-10-27 00:00:00 D
Financials
Line Item2025-05-312024-05-312023-05-312022-05-31
TaxEffectOfUnusualItems-38.39M0.000.000.00
TaxRateForCalcs0.040.340.210.20
NormalizedEBITDA123.50M180.32M124.39M84.41M
TotalUnusualItems-1.06B0.000.00
TotalUnusualItemsExcludingGoodwill-1.06B0.000.00
NetIncomeFromContinuingOperationNetMinorityInterest-1.09B-9.42M-22.87M48.31M
ReconciledDepreciation125.67M121.23M90.47M24.13M
ReconciledCostOfRevenue473.29M460.32M416.49M284.15M
EBITDA-935.82M180.32M124.39M84.41M
EBIT-1.06B59.09M33.92M60.28M
NetInterestIncome-68.51M-67.03M-52.80M1.27M
InterestExpense71.62M73.39M55.96M72.00K
InterestIncome3.11M6.36M3.17M1.34M
NormalizedIncome-71.11M-9.42M-22.87M48.31M
NetIncomeFromContinuingAndDiscontinuedOperation-1.09B-9.42M-22.87M48.31M
TotalExpenses896.34M865.56M784.93M468.54M
TotalOperatingIncomeAsReported-1.06B58.66M37.52M58.62M
DilutedAverageShares217.04M216.61M216.25M108.02M
BasicAverageShares217.04M216.61M216.25M107.80M
DilutedEPS-5.03-0.04-0.120.45
BasicEPS-5.03-0.04-0.110.45
DilutedNIAvailtoComStockholders-1.09B-9.42M-22.87M48.31M
NetIncomeCommonStockholders-1.09B-9.42M-22.87M48.31M
NetIncome-1.09B-9.42M-22.87M48.31M
NetIncomeIncludingNoncontrollingInterests-1.09B-9.42M-22.87M48.31M
NetIncomeContinuousOperations-1.09B-9.42M-22.87M48.31M
TaxProvision-41.07M-4.88M828.00K11.90M
PretaxIncome-1.13B-14.30M-22.04M60.21M
OtherIncomeExpense-3.60M-5.94M-6.76M322.00K
OtherNonOperatingIncomeExpenses1.06B-5.94M-6.76M322.00K
SpecialIncomeCharges-1.06B0.000.00
ImpairmentOfCapitalAssets1.06B0.000.00
NetNonOperatingInterestIncomeExpense-68.51M-67.03M-52.80M1.27M
InterestExpenseNonOperating71.62M73.39M55.96M72.00K
InterestIncomeNonOperating3.11M6.36M3.17M1.34M
OperatingIncome-1.68M58.66M37.52M58.62M
OperatingExpense423.05M405.24M368.44M184.40M
ResearchAndDevelopment21.09M22.48M26.04M17.05M
SellingGeneralAndAdministration401.96M382.76M342.40M167.35M
SellingAndMarketingExpense183.80M182.87M141.22M84.60M
GeneralAndAdministrativeExpense218.17M199.89M201.18M82.74M
OtherGandA218.17M199.89M201.18M82.74M
GrossProfit421.38M463.90M405.95M243.01M
CostOfRevenue473.29M460.32M416.49M284.15M
TotalRevenue894.66M924.22M822.45M527.16M
OperatingRevenue894.66M924.22M822.45M527.16M
Line Item2025-05-312024-05-312023-05-312022-05-31
OrdinarySharesNumber217.04M216.61M216.25M107.80M
ShareIssued217.04M216.61M216.25M107.80M
NetDebt765.11M720.23M722.20M
TotalDebt894.11M890.84M885.44M
TangibleBookValue-404.13M-503.14M-608.38M637.17M
InvestedCapital2.97B4.03B4.02B887.37M
WorkingCapital402.93M434.91M440.46M548.95M
NetTangibleAssets-404.13M-503.14M-608.38M637.17M
CapitalLeaseObligations0.000.00
CommonStockEquity2.07B3.14B3.13B887.37M
TotalCapitalization2.95B4.03B4.02B887.37M
TotalEquityGrossMinorityInterest2.07B3.14B3.13B887.37M
StockholdersEquity2.07B3.14B3.13B887.37M
GainsLossesNotAffectingRetainedEarnings-28.90M-30.02M-33.25M-27.77M
OtherEquityAdjustments-28.90M-30.02M-33.25M-27.77M
RetainedEarnings-536.42M555.62M565.04M587.91M
AdditionalPaidInCapital2.60B2.58B2.57B309.98M
CapitalStock34.73M34.66M34.60M17.25M
CommonStock34.73M34.66M34.60M17.25M
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest1.37B1.40B1.42B105.56M
TotalNonCurrentLiabilitiesNetMinorityInterest1.20B1.25B1.27B27.71M
OtherNonCurrentLiabilities42.85M35.26M35.88M10.70M
NonCurrentDeferredLiabilities280.91M326.72M353.43M17.01M
NonCurrentDeferredTaxesLiabilities280.91M326.72M353.43M17.01M
LongTermDebtAndCapitalLeaseObligation874.81M888.39M885.44M
LongTermCapitalLeaseObligation0.00
LongTermDebt874.81M888.39M885.44M
CurrentLiabilities174.01M154.32M145.47M77.84M
OtherCurrentLiabilities38.74M22.80M20.93M
CurrentDeferredLiabilities5.56M4.63M4.62M5.46M
CurrentDeferredRevenue5.56M4.63M4.62M5.46M
CurrentDebtAndCapitalLeaseObligation19.30M2.45M
CurrentCapitalLeaseObligation2.45M0.00
CurrentDebt19.30M2.45M
PensionandOtherPostRetirementBenefitPlansCurrent14.13M19.95M25.15M11.12M
PayablesAndAccruedExpenses96.28M104.50M94.77M61.26M
CurrentAccruedExpenses11.08M10.98M11.15M24.52M
InterestPayable11.08M10.98M11.15M0.00
Payables85.20M93.51M83.62M36.74M
TotalTaxPayable5.60M10.45M6.95M2.13M
IncomeTaxPayable5.60M10.45M6.95M2.13M
AccountsPayable79.61M83.06M76.67M34.61M
TotalAssets3.44B4.55B4.55B992.93M
TotalNonCurrentAssets2.87B3.96B3.97B366.13M
OtherNonCurrentAssets35.23M20.43M15.22M2.16M
GoodwillAndOtherIntangibleAssets2.48B3.65B3.74B250.21M
OtherIntangibleAssets1.41B1.51B1.61B107.50M
Goodwill1.06B2.14B2.14B142.70M
NetPPE356.28M291.89M210.68M113.77M
AccumulatedDepreciation-155.43M-140.29M-120.12M-104.88M
GrossPPE511.71M432.18M330.80M218.64M
ConstructionInProgress186.24M113.97M52.24M5.97M
OtherProperties17.15M14.79M11.93M3.18M
MachineryFurnitureEquipment188.78M184.63M159.63M120.49M
BuildingsAndImprovements108.72M108.30M96.79M79.51M
LandAndImprovements10.82M10.50M10.21M9.48M
Properties0.000.000.000.00
CurrentAssets576.94M589.23M585.93M626.80M
OtherCurrentAssets53.29M56.02M53.30M23.76M
AssetsHeldForSaleCurrent50.40M0.00
PrepaidAssets23.76M17.84M
Inventory190.86M189.27M133.81M122.31M
InventoriesAdjustmentsAllowances-16.48M-12.36M-6.27M
FinishedGoods130.42M111.84M68.10M57.26M
WorkInProcess11.23M10.99M5.37M6.39M
RawMaterials65.69M78.80M66.62M58.67M
Receivables153.38M173.00M153.25M99.67M
AccountsReceivable153.38M173.00M153.25M99.67M
AllowanceForDoubtfulAccountsReceivable-5.40M-4.14M-2.83M-1.65M
GrossAccountsReceivable158.78M177.15M156.08M101.32M
CashCashEquivalentsAndShortTermInvestments129.00M170.94M245.57M381.05M
OtherShortTermInvestments0.00325.00K82.33M336.58M
CashAndCashEquivalents129.00M170.61M163.24M44.47M
Line Item2025-05-312024-05-312023-05-312022-05-31
FreeCashFlow-46.35M-76.16M-24.73M43.61M
RepurchaseOfCapitalStock0.00
RepaymentOfDebt-550.32M-420.00K-100.00M0.00
IssuanceOfDebt550.00M0.000.00
CapitalExpenditure-104.59M-111.42M-65.76M-24.43M
InterestPaidSupplementalData68.14M73.17M42.62M72.00K
IncomeTaxPaidSupplementalData26.54M22.30M15.47M17.24M
EndCashPosition129.00M170.61M163.24M44.47M
BeginningCashPosition170.61M163.24M44.47M75.60M
EffectOfExchangeRateChanges942.00K-502.00K-5.22M-8.75M
ChangesInCash-42.55M7.87M123.99M-22.38M
FinancingCashFlow-1.60M1.92M-118.08M6.81M
CashFlowFromContinuingFinancingActivities-1.60M1.92M-118.08M6.81M
NetOtherFinancingCharges-3.52M-118.00K-19.28M-1.12M
ProceedsFromStockOptionExercised2.24M2.46M1.20M7.93M
NetCommonStockIssuance0.00
CommonStockPayments0.00
NetIssuancePaymentsOfDebt-321.00K-420.00K-100.00M0.00
NetLongTermDebtIssuance-321.00K-420.00K-100.00M0.00
LongTermDebtPayments-550.32M-420.00K-100.00M0.00
LongTermDebtIssuance550.00M0.000.00
InvestingCashFlow-99.19M-29.31M201.04M-97.23M
CashFlowFromContinuingInvestingActivities-99.19M-29.31M201.04M-97.23M
NetInvestmentPurchaseAndSale325.00K82.00M254.25M-34.05M
SaleOfInvestment325.00K82.00M266.77M381.84M
PurchaseOfInvestment0.000.00-12.52M-415.89M
NetBusinessPurchaseAndSale0.000.0011.72M-38.74M
SaleOfBusiness0.000.0011.72M
PurchaseOfBusiness-38.74M-50.77M
NetPPEPurchaseAndSale-99.52M-111.31M-64.93M-24.43M
SaleOfPPE5.08M108.00K826.00K0.00
PurchaseOfPPE-104.59M-111.42M-65.76M-24.43M
OperatingCashFlow58.24M35.26M41.03M68.04M
CashFlowFromContinuingOperatingActivities58.24M35.26M41.03M68.04M
ChangeInWorkingCapital-5.93M-72.68M-24.20M-4.42M
ChangeInOtherWorkingCapital360.00K-21.33M154.00K8.27M
ChangeInPayablesAndAccruedExpense-309.00K13.59M22.69M20.24M
ChangeInAccruedExpense93.00K-164.00K4.05M0.00
ChangeInInterestPayable93.00K-164.00K4.05M0.00
ChangeInPayable-402.00K13.75M18.64M20.24M
ChangeInAccountPayable-402.00K13.75M18.64M20.24M
ChangeInPrepaidAssets-1.50M11.11M-3.12M-4.05M
ChangeInInventory-16.12M-55.95M9.96M-21.07M
ChangeInReceivables11.64M-20.10M-53.88M-7.80M
ChangesInAccountReceivables11.64M-20.10M-53.88M-7.80M
OtherNonCashItems380.00K8.72M7.16M-2.44M
StockBasedCompensation17.29M13.77M10.18M7.15M
AssetImpairmentCharge1.07B0.000.000.00
DeferredTax-57.78M-27.42M-19.23M-4.70M
DeferredIncomeTax-57.78M-27.42M-19.23M-4.70M
DepreciationAmortizationDepletion125.67M121.23M90.47M24.13M
DepreciationAndAmortization125.67M121.23M90.47M24.13M
Depreciation125.67M121.23M90.47M24.13M
OperatingGainsLosses1.91M1.07M-486.00K
GainLossOnSaleOfPPE-25.00K1.07M-486.00K0.00
NetIncomeFromContinuingOperations-1.09B-9.42M-22.87M48.31M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for NEOG
Date User Asset Broker Type Position Size Entry Price Patterns