undamentalytics Newsletter
Sign in

Neogen Corp (NEOG) stock

Add to watchlist

Add holding +

NASDAQ: NEOG Nasdaq Health Care Equipment Next results ~January 7, 2027

Neogen Corp is a US-listed company in the health care equipment industry. Its financial year ends in May.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Neogen Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 0 selling7 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds141 adding, 147 cuttingOf 40 active managers that changed their stake, 17 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Neogen files

Where Neogen stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $884m, down 0.3% on a year earlier, a smaller fall than the 2.7% decline a quarter earlier. That puts it 49 of 58 for growth among the health care equipment companies we cover. Free-cash-flow margin rose to 5.6% from -0.4% a year earlier. Operating margin widened to -0.8% from -121.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 5 financial-health checks.

Our model value for Neogen is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 7, 2027 (estimated)

Neogen Corp's trailing-twelve-month revenue fell 0.3% year on year, with a free-cash-flow margin of 5.6%.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 50% in the quarter to 2026-08-31, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 120.9 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 7.1% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 0.3% over the last 12 months.
  • Loss-making. Operating margin is -0.8%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 58% and a beta of 1.4 against the S&P 500.

Latest results: FY2027 Q1

Filed October 7, 2026
Earnings per share
$0.08 against an average estimate of $0.05: beat by 50.0%
Revenue
$223m, up 6.5% on a year earlier
Share reaction
-10.2% in the first session after the results on October 6, 2026, against +0.3% for the S&P 500
Next report
October 6, 2026; average EPS estimate $0.06

Neogen's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day0.0%
  • 1 week-3.2%
  • 1 month-2.7%
  • This year+69.1%
  • 1 year+91.6%
  • 5 years-73.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$884M
Operating margin
-0.8%
Net margin
-6.3%
EPS (TTM, diluted)
$-0.26

Growth

Revenue growth
−0.3%
Change in growth rate
+2.4 pts
Share count change
+0.3%

Cash

Free cash flow (TTM)
$49.8M
FCF margin
5.6%
Stock pay % of revenue
1.3%

Earnings

Last results
October 6, 2026
Next results (est.)
January 7, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Shareholder vote
  2. Results
  3. Leadership
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Neogen Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Neogen Corp as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$4.0 ~$4.7–$20 Included, half weight
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Neogen Corp with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$18.52$23.74$37.85$28.18$35.61$46.16$26.46$17.49$13.15$5.86$8.97$11.82
Market value$1.9bn$2.4bn$3.9bn$3.0bn$3.8bn$4.9bn$2.9bn$3.3bn$2.8bn$1.3bn$2.0bn$2.6bn
+ Net debt (− = net cash)−$53m−$74m−$83m−$42m−$66m−$76m−$44m$737m$732m$773m$615m−$172m
Enterprise value$1.8bn$2.4bn$3.9bn$2.9bn$3.7bn$4.9bn$2.8bn$4.0bn$3.6bn$2.0bn$2.6bn$2.4bn
Multiples
Price / sales 5.8x6.8x9.9x7.1x9.0x10.6x5.4x4.0x3.1x1.4x2.2x2.9x
Price / earnings 51.2x55.5x62.5x49.1x63.3x81.2x59.2x—————
Price / free cash flow 88.6x53.2x81.9x60.1x60.9x90.9x65.5x———61.2x51.7x
EV / EBITDA 26.5x29.6x44.3x34.0x43.0x51.1x34.2x32.1x20.4x—27.1x22.0x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

44 /100

Weak moat

How hard Neogen's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 4 / 20

    Cash operating profit has been a median 4.9% of total assets over 10 years.

  • Pricing power 16 / 20

    Gross margin has been a median 46.6%, moving by 1.3 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 11.9%; its worst year was -121.7%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 6 of 10 years, at a median 8.5% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 102.5% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.33 +4% $888m +2%
Next $0.45 +35% $828m −7%

Next year's EPS estimate has moved +7.1% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +11.1% on 90 days ago. In the last 30 days, 0 analysts raised Neogen Corp's forecast and 0 cut it.

Consensus EPS forecast Neogen Corp, last 90 days
$0.25 $0.30 $0.35 $0.40 $0.45 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.30 Current fiscal year, 60 days ago: $0.31 Current fiscal year, 30 days ago: $0.31 Current fiscal year, 7 days ago: $0.30 Current fiscal year, Now: $0.33 $0.33 Next fiscal year, 90 days ago: $0.42 Next fiscal year, 60 days ago: $0.43 Next fiscal year, 30 days ago: $0.43 Next fiscal year, 7 days ago: $0.43 Next fiscal year, Now: $0.45 $0.45

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.30$0.42
60 days ago $0.31$0.43
30 days ago $0.31$0.43
7 days ago $0.30$0.43
Now $0.33$0.45

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.05 $0.08 +50.0%
May 2026 $0.06 $0.09 +58.8%
Feb 2026 $0.05 $0.09 +68.8%
Nov 2025 $0.07 $0.10 +50.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 20262114
  2. Sep 20262114
  3. Aug 20262114
  4. Jul 20261124

Counts of recommendations published by analysts covering Neogen Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.3%
of tradable shares
Days to cover
2.26
at average volume
Short interest, 1 month
+7%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
0.8%
of shares
Employees
2,636
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +91.6%

$6.17 on October 31, 2025 to $11.82

ThenNowEffect
Revenue (last 12 months) $887m $884m −0.3%
P/S multiple 1.5x 2.9x +92.8%
Share count 217m 218m −0.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −25.3%

$15.82 on November 3, 2023 to $11.82

ThenNowEffect
Revenue (last 12 months) $919m $884m −3.8%
P/S multiple 3.7x 2.9x −21.8%
Share count 216m 218m −0.7%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
NEOG+15%−67%+32%−40%−42%+69%
Industry peers (median)−9%−37%−9%−19%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
NEOG50%17%58%42%33%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
NEOG−19%−76%−39%−43%−66%−28%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 91% from April 20, 2021 to April 17, 2025. Getting back needed a 1001% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.41 – $13.98
From 52-week high
−15.5%
vs 50-day average
−3.3%
vs 200-day average
+13.3%
Volatility (1 year)
58%
Beta vs S&P 500
1.42

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±11.8%
After a week
3 up, 9 down
typical move ±13.9%
After a month
5 up, 6 down
typical move ±16.4%
Results releasedNext dayS&P 500 next day5 days21 days
October 6, 2026 −10.2% +0.3% −9.8% —
July 30, 2026 +28.1% +2.4% +20.2% +24.0%
April 9, 2026 −8.9% +0.5% −10.6% −12.5%
January 8, 2026 +30.4% +0.7% +28.2% +43.8%
October 9, 2025 +3.8% −3.0% +1.9% +10.0%
July 29, 2025 −13.3% −0.4% −13.7% +5.9%
April 9, 2025 −20.0% +5.7% −34.7% −15.2%
January 10, 2025 −3.3% −1.4% −11.6% −22.3%
October 10, 2024 −2.8% +0.4% −2.6% +9.3%
July 30, 2024 −1.6% +1.1% −3.2% −2.8%
April 9, 2024 −13.1% −0.9% −15.4% −16.2%
January 9, 2024 −5.5% +0.4% −14.9% −18.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fundamentals

Revenue (TTM) Neogen Corp
$860M $880M $900M $920M $940M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $918.7M Revenue (TTM), FY24 Q3: $929.2M Revenue (TTM), FY24 Q4: $924.2M Revenue (TTM), FY25 Q1: $912.2M Revenue (TTM), FY25 Q2: $913.8M Revenue (TTM), FY25 Q3: $906M Revenue (TTM), FY25 Q4: $894.7M Revenue (TTM), FY26 Q1: $887M Revenue (TTM), FY26 Q2: $880.4M Revenue (TTM), FY26 Q3: $870.6M Revenue (TTM), FY26 Q4: $870.4M Revenue (TTM), FY27 Q1: $884M $884M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $918.7M
FY24 Q3 $929.2M
FY24 Q4 $924.2M
FY25 Q1 $912.2M
FY25 Q2 $913.8M
FY25 Q3 $906M
FY25 Q4 $894.7M
FY26 Q1 $887M
FY26 Q2 $880.4M
FY26 Q3 $870.6M
FY26 Q4 $870.4M
FY27 Q1 $884M
Revenue growth, TTM YoY Neogen Corp
-20% 0% 20% 40% 60% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 45.7% Revenue growth, TTM YoY, FY24 Q3: 28.9% Revenue growth, TTM YoY, FY24 Q4: 12.4% Revenue growth, TTM YoY, FY25 Q1: -0.8% Revenue growth, TTM YoY, FY25 Q2: -0.5% Revenue growth, TTM YoY, FY25 Q3: -2.5% Revenue growth, TTM YoY, FY25 Q4: -3.2% Revenue growth, TTM YoY, FY26 Q1: -2.8% Revenue growth, TTM YoY, FY26 Q2: -3.7% Revenue growth, TTM YoY, FY26 Q3: -3.9% Revenue growth, TTM YoY, FY26 Q4: -2.7% Revenue growth, TTM YoY, FY27 Q1: -0.3% -0.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 45.7%
FY24 Q3 28.9%
FY24 Q4 12.4%
FY25 Q1 -0.8%
FY25 Q2 -0.5%
FY25 Q3 -2.5%
FY25 Q4 -3.2%
FY26 Q1 -2.8%
FY26 Q2 -3.7%
FY26 Q3 -3.9%
FY26 Q4 -2.7%
FY27 Q1 -0.3%
Operating margin (TTM) Neogen Corp
-150% -100% -50% 0% 50% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 7.9% Operating margin (TTM), FY24 Q3: 7.4% Operating margin (TTM), FY24 Q4: 6.3% Operating margin (TTM), FY25 Q1: 4.6% Operating margin (TTM), FY25 Q2: -47.1% Operating margin (TTM), FY25 Q3: -48.2% Operating margin (TTM), FY25 Q4: -118.6% Operating margin (TTM), FY26 Q1: -121.7% Operating margin (TTM), FY26 Q2: -71.2% Operating margin (TTM), FY26 Q3: -73.1% Operating margin (TTM), FY26 Q4: -2.5% Operating margin (TTM), FY27 Q1: -0.8% -0.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 7.9%
FY24 Q3 7.4%
FY24 Q4 6.3%
FY25 Q1 4.6%
FY25 Q2 -47.1%
FY25 Q3 -48.2%
FY25 Q4 -118.6%
FY26 Q1 -121.7%
FY26 Q2 -71.2%
FY26 Q3 -73.1%
FY26 Q4 -2.5%
FY27 Q1 -0.8%
FCF margin (TTM) Neogen Corp
-15% -10% -5% 0% 5% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 1.8% FCF margin (TTM), FY24 Q3: -1.4% FCF margin (TTM), FY24 Q4: -8.2% FCF margin (TTM), FY25 Q1: -13.7% FCF margin (TTM), FY25 Q2: -10.2% FCF margin (TTM), FY25 Q3: -4.9% FCF margin (TTM), FY25 Q4: -5.2% FCF margin (TTM), FY26 Q1: -0.4% FCF margin (TTM), FY26 Q2: -2.1% FCF margin (TTM), FY26 Q3: 0.7% FCF margin (TTM), FY26 Q4: 3.7% FCF margin (TTM), FY27 Q1: 5.6% 5.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 1.8%
FY24 Q3 -1.4%
FY24 Q4 -8.2%
FY25 Q1 -13.7%
FY25 Q2 -10.2%
FY25 Q3 -4.9%
FY25 Q4 -5.2%
FY26 Q1 -0.4%
FY26 Q2 -2.1%
FY26 Q3 0.7%
FY26 Q4 3.7%
FY27 Q1 5.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 May 2010 2011 May 2011 2012 May 2012 2013 May 2013 2014 May 2014 2015 May 2015 2016 May 2016 2017 May 2017 2018 May 2018 2019 May 2019 2020 May 2020 2021 May 2021 2022 May 2022 2023 May 2023 2024 May 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 141 173 184 208 247 283 321 358 398 414 418 468 527 822 924 895 870 884
Gross profit 73 88 92 109 123 140 153 169 186 192 196 215 243 406 464 421 409 419
EBITDA 31 41 40 48 53 64 69 80 87 86 86 95 82 126 175 −942 95 109
Operating income 27 36 34 41 43 53 56 65 70 68 68 74 59 38 59 −1,061 −22 −7
Net income 18 23 23 27 28 34 37 44 63 60 59 61 48 −23 −9 −1,092 −8 −56
Diluted EPS $0.19 $0.24 $0.23 $0.28 $0.29 $0.34 $0.36 $0.43 $0.60 $0.57 $0.56 $0.57 $0.45 −$0.12 −$0.04 −$5.03 −$0.04 −$0.26
Growth (year on year)
Revenue — +22.9% +6.6% +12.8% +19.2% +14.4% +13.5% +11.5% +11.1% +4.1% +1.0% +12.0% +12.5% +56.0% +12.4% −3.2% −2.7% −0.3%
EBITDA — +31.5% −3.0% +20.6% +9.3% +21.3% +7.5% +16.1% +9.6% −1.8% +0.2% +10.8% −13.5% +52.9% +39.2% −637.1% — —
Operating income — +33.3% −5.8% +20.6% +6.6% +22.4% +6.2% +15.2% +8.1% −3.0% −0.8% +9.8% −21.0% −36.0% +56.2% <−999% — —
Net income — +30.4% −1.4% +20.8% +3.6% +19.1% +9.1% +19.8% +44.2% −4.7% −1.2% +2.4% −20.7% −147.3% — — — —
Diluted EPS — +26.3% −3.1% +21.0% +1.3% +18.4% +6.6% +19.4% +40.7% −5.8% −1.8% +1.8% −21.1% −126.7% — — — —
Margins
Gross margin 51.9% 50.8% 50.2% 52.8% 49.6% 49.3% 47.6% 47.1% 46.8% 46.3% 46.9% 45.9% 46.1% 49.4% 50.2% 47.1% 46.9% 47.4%
EBITDA margin 22.3% 23.8% 21.7% 23.2% 21.2% 22.5% 21.3% 22.2% 21.9% 20.7% 20.5% 20.3% 15.6% 15.3% 19.0% −105.2% 10.9% 12.3%
Operating margin 19.1% 20.8% 18.3% 19.6% 17.5% 18.8% 17.6% 18.1% 17.6% 16.4% 16.1% 15.8% 11.1% 4.6% 6.3% −118.6% −2.5% −0.8%
Net margin 12.5% 13.2% 12.2% 13.1% 11.4% 11.8% 11.4% 12.2% 15.9% 14.5% 14.2% 13.0% 9.2% −2.8% −1.0% −122.1% −0.9% −6.3%
Free-cash-flow margin 16.1% 12.2% 11.3% 8.5% 4.1% 12.1% 6.6% 12.8% 12.1% 11.9% 14.8% 11.6% 8.3% −3.0% −8.2% −5.2% 3.7% 5.6%
Cash flow
Cash from operations 28 29 22 27 22 44 35 60 69 64 86 81 68 41 35 58 83 85
Capital spending 5 8 2 9 12 10 14 15 21 15 24 27 24 66 111 105 51 36
Free cash flow 23 21 21 18 10 34 21 46 48 49 62 54 44 −25 −76 −46 32 50
Stock-based pay 2 2 2 3 4 4 5 5 5 6 6 6 7 10 14 17 13 12
Free cash flow after stock pay 20 19 18 15 6 30 16 40 43 44 55 48 36 −35 −90 −64 19 38
Balance sheet
Cash 23 36 49 50 41 66 55 78 83 42 66 76 44 163 171 129 186 172
Total debt 0 5 3 2 2 — 2 3 0 0 0 0 0 900 902 902 800 —
Net debt (negative = net cash) −23 −31 −46 −48 −39 −66 −53 −74 −83 −42 −66 −76 −44 737 732 773 615 −172
Diluted shares 92m 95m 96m 97m 99m 100m 101m 102m 104m 105m 106m 107m 108m 189m 217m 217m 218m 218m
Returned to shareholders
Buybacks — — — — — — — — — 3 — — — — — — — —
Total returned — — — — — — — — — 3 — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · August 31, 2026
What it owns · $3.3bn
Short-term assets $583mLonger-term assets $2.7bn
What it owes, and who funded it · $3.3bn
Short-term liabilities $150mLonger-term liabilities $1.1bnShareholders' equity $2.1bn
  • Short-term assets cover short-term liabilities $582m of assets due within a year against $150m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $582m short-term assets against $1.1bn of longer-dated liabilities.
  • More cash than debt $172m of cash against $774m of debt.
  • Debt below 40% of shareholders' equity Debt is 37% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $85m of operating cash flow against $774m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Neogen Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+0.3%
year over year
R&D spending
2.2%
of revenue
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated NEOG INSP VREX ATEC OFIX IRTC Median
Revenue, last 12 months $884m $881m $865m $840m $833m $825m $102m
Revenue growth, last 12 months −0.3% −0.2% 5.3% 15.3% 3.0% 25.6% 9.1%
Revenue growth, 3-year average −1.3% 15.6% −1.2% 23.1% 11.7% 22.2% 13.0%
Revenue growth, latest quarter 6.5% −7.9% 3.7% 12.6% 3.8% 20.1% 9.9%
Gross margin 47.4% 86.2% 34.3% 71.3% 71.3% 71.5% 61.1%
Operating margin −0.8% 1.8% 8.3% −3.6% −4.7% −3.0% −8.3%
Operating margin, 3-year average −39.3% 2.6% 3.1% −14.8% −9.7% −14.3% −17.9%
Net margin −6.3% 11.4% 2.6% −10.3% −7.4% −1.7% −11.7%
Cash from operations / revenue 9.6% 15.3% 1.3% 7.3% 2.0% 10.4% −1.7%
Free-cash-flow margin 5.6% 11.1% −2.3% −1.2% −3.3% 4.7% −3.9%
Free-cash-flow margin, 3-year average −2.8% 9.1% 2.4% −12.1% −4.2% −3.0% −6.2%
Stock pay / revenue 1.3% 13.3% 1.7% 9.0% 3.4% 10.1% 6.1%
Change in share count 0.3% −3.9% −8.8% 4.6% 3.6% 2.9% 3.9%

Median of all 135 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Where the revenue comes from

Fiscal year to May 31, 2026
Segments
Line of business Revenue Share YoY
Food Safety $641M 73.7% ▲ 0.5%
Animal Safety $229M 26.3% ▼ 10.6%
Products and services
Line of business Revenue Share YoY
Products $768M 88.3% ▼ 3.7%
Services $102M 11.7% ▲ 5.0%
Geography
Region Revenue Share YoY
Outside the US $445M 51.2% ▼ 0.8%
United States $425M 48.8% ▼ 4.7%

From Neogen Corp's 10-K filed July 30, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.1B
Institutions reporting
313
Shares held vs prior quarter
▲ 1.9%
Positions opened / closed
45 / 38

Top buyers and sellers, Q2 2026: 141 institutions bought and 147 sold ; the biggest buyer was Neuberger Berman Group LLC (+8.8M shares) and the biggest seller Mackenzie Financial Corp (−7.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $301M 33.4M 14.1% ▲ 2.5%
Neuberger Berman Group LLC $149M 16.6M 7.0% ▲ 113.8%
Vanguard Portfolio Management LLC $117M 13.0M 5.5% ▲ 1.6%
Dimensional Fund Advisors LP $88.4M 9.8M 4.1% ▲ 7.6%
Vanguard Capital Management LLC $86.8M 9.7M 4.1% ▲ 0.9%
SG Americas Securities, LLC $84.1M 9.4M 3.9% ▲ 49.3%
T. Rowe Price Investment Management, Inc. $83.9M 9.3M 3.9% ▼ 8.2%
ING Groep NV $81.8M 9.1M 3.8% ▲ 2.2%
State Street Corp $80.4M 8.9M 3.8% ▲ 4.1%
Gates Capital Management, Inc. $78.6M 8.7M 3.7% ▲ 39.7%
Hudson Bay Capital Management LP $58.4M 6.5M 2.7% 0.0%
Geode Capital Management, LLC $52.4M 5.8M 2.5% ▲ 4.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Neogen Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $13,527 7 trades by 1 insider, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $13,527 net buying
Insider Date Trade Shares Price Value
Nassif Mikheal CEO October 9, 2026 Buy 505 $11.95 $6,035
Nassif Mikheal CEO August 4, 2026 Buy 370 $11.81 $4,370
Nassif Mikheal CEO February 17, 2026 Buy 23 $10.94 $252
Nassif Mikheal CEO February 2, 2026 Buy 24 $10.00 $240
Nassif Mikheal CEO January 26, 2026 Buy 25 $9.86 $246
Nassif Mikheal CEO January 16, 2026 Buy 137 $9.33 $1,278
Nassif Mikheal CEO November 3, 2025 Buy 177 $6.25 $1,106

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Neogen Corp disclosed in the last 12 months; 3 earlier trades on record.

  • Greg Gianforte(MT):Sale (partial), $1,001 - $15,000, traded October 13, 2020, filed November 9, 2020
  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded June 24, 2019, filed April 27, 2020
  • Greg Gianforte(MT):Purchase, $100,001 - $250,000, traded June 12, 2019, filed July 1, 2019

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 7, 2027 estimated from the company's past filing pattern, not announced

  • October 6, 2026
  • July 30, 2026
  • April 9, 2026
  • January 8, 2026
  • October 9, 2025
  • July 29, 2025

Recent SEC filings

Data status

When each part of this page on Neogen Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Neogen Corp in brief

What does Neogen Corp do?
Neogen Corp is a US-listed company in the health care equipment industry. Its financial year ends in May.
What is Neogen Corp's stock ticker?
Neogen Corp trades under the ticker NEOG on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Neogen Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Neogen Corp reported revenue of $884M, 0.3% lower than a year earlier, according to its SEC filings.
What is Neogen Corp's free cash flow?
Neogen Corp's free-cash-flow margin is 5.6% of revenue over the trailing twelve months.
Who are Neogen Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Neuberger Berman Group LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Neogen Corp's market cap?
On November 2, 2026, Neogen Corp's market capitalisation was about $2.6B and net debt of -$172M. Market figures come from third-party market data and may be delayed.
How much debt does Neogen Corp have?
Neogen Corp's debt-to-equity ratio is 37.1%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Neogen Corp's competitors?
In our Health Care Equipment peer group, the companies closest to Neogen Corp are Inspire Medical Systems, Inc., Varex Imaging Corp, Alphatec Holdings, Inc., Orthofix Medical Inc. and Irhythm Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Neogen Corp's.
Are insiders buying or selling Neogen Corp stock?
Over the last 12 months, Neogen Corp's directors and officers reported 7 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Neogen Corp's next earnings date?
Around January 7, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Neogen Corp announces its own schedule.