NEOG Fundamental Analysis - NEOGEN CORP

Fundamental Rating

Taking everything into account, NEOG scores 3 out of 10 in our fundamental rating. NEOG was compared to 191 industry peers in the Health Care Equipment & Supplies industry. While NEOG seems to be doing ok healthwise, there are quite some concerns on its profitability. NEOG has a valuation in line with the averages, but it does not seem to be growing.

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1. Profitability

1.1 Basic Checks

NEOG had positive earnings in the past year.

NEOG had a positive operating cash flow in the past year.

The reported net income has been mixed in the past 5 years: NEOG reported negative net income in multiple years.

Each year in the past 5 years NEOG had a positive operating cash flow.

1.2 Ratios

The Return On Assets of NEOG (-30.88%) is comparable to the rest of the industry.

NEOG has a Return On Equity of -49.23%. This is comparable to the rest of the industry: NEOG outperforms 49.21% of its industry peers.

		Industry Rank	Sector Rank
ROA	-30.88%
ROE	-49.23%
ROIC	N/A

ROA(3y)-10.81%

ROA(5y)-4.19%

ROE(3y)-17.92%

ROE(5y)-8.21%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

NEOG's Gross Margin of 46.39% is in line compared to the rest of the industry. NEOG outperforms 41.36% of its industry peers.

NEOG's Gross Margin has been stable in the last couple of years.

NEOG does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	46.39%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y0.72%

GM growth 5Y0.07%

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

NEOG does not have a ROIC to compare to the WACC, probably because it is not profitable.

NEOG has about the same amout of shares outstanding than it did 1 year ago.

Compared to 5 years ago, NEOG has more shares outstanding

Compared to 1 year ago, NEOG has a worse debt to assets ratio.

2.2 Solvency

Based on the Altman-Z score of 0.78, we must say that NEOG is in the distress zone and has some risk of bankruptcy.

NEOG has a Altman-Z score of 0.78. This is comparable to the rest of the industry: NEOG outperforms 47.64% of its industry peers.

NEOG has a Debt/Equity ratio of 0.37. This is a healthy value indicating a solid balance between debt and equity.

With a Debt to Equity ratio value of 0.37, NEOG perfoms like the industry average, outperforming 48.17% of the companies in the same industry.

		Industry Rank	Sector Rank
Debt/Equity	0.37
Debt/FCF	N/A
Altman-Z	0.78

ROIC/WACCN/A

WACC7.59%

2.3 Liquidity

NEOG has a Current Ratio of 3.58. This indicates that NEOG is financially healthy and has no problem in meeting its short term obligations.

With a decent Current ratio value of 3.58, NEOG is doing good in the industry, outperforming 67.02% of the companies in the same industry.

A Quick Ratio of 2.26 indicates that NEOG has no problem at all paying its short term obligations.

NEOG has a Quick ratio of 2.26. This is comparable to the rest of the industry: NEOG outperforms 58.64% of its industry peers.

		Industry Rank	Sector Rank
Current Ratio	3.58
Quick Ratio	2.26

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

NEOG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -25.00%.

Measured over the past years, NEOG shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -10.20% on average per year.

NEOG shows a decrease in Revenue. In the last year, the revenue decreased by -2.77%.

Measured over the past years, NEOG shows a quite strong growth in Revenue. The Revenue has been growing by 16.43% on average per year.

EPS 1Y (TTM)-25%

EPS 3Y-9.82%

EPS 5Y-10.2%

EPS Q2Q%-42.86%

Revenue 1Y (TTM)-2.77%

Revenue growth 3Y19.28%

Revenue growth 5Y16.43%

Sales Q2Q%-3.58%

3.2 Future

NEOG is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 0.40% yearly.

The Revenue is expected to grow by 0.60% on average over the next years.

EPS Next Y-24.27%

EPS Next 2Y3.26%

EPS Next 3Y-1.41%

EPS Next 5Y0.4%

Revenue Next Year-8.08%

Revenue Next 2Y-3.09%

Revenue Next 3Y-1.21%

Revenue Next 5Y0.6%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.

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4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 19.83, the valuation of NEOG can be described as rather expensive.

NEOG's Price/Earnings ratio is rather cheap when compared to the industry. NEOG is cheaper than 80.10% of the companies in the same industry.

NEOG is valuated rather cheaply when we compare the Price/Earnings ratio to 27.55, which is the current average of the S&P500 Index.

With a Price/Forward Earnings ratio of 16.91, NEOG is valued correctly.

81.68% of the companies in the same industry are more expensive than NEOG, based on the Price/Forward Earnings ratio.

When comparing the Price/Forward Earnings ratio of NEOG to the average of the S&P500 Index (23.04), we can say NEOG is valued slightly cheaper.

		Industry Rank	Sector Rank
PE	19.83
Fwd PE	16.91

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of NEOG indicates a somewhat cheap valuation: NEOG is cheaper than 75.92% of the companies listed in the same industry.

		Industry Rank	Sector Rank
P/FCF	N/A
EV/EBITDA	19.63

4.3 Compensation for Growth

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y3.26%

EPS Next 3Y-1.41%

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5. Dividend

5.1 Amount

No dividends for NEOG!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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NEOGEN CORP

NASDAQ:NEOG (10/15/2025, 8:00:02 PM)

After market: 5.84 -0.11 (-1.85%)

5.95

+0.04 (+0.68%)

Chartmill FA Rating

GICS SectorHealth Care

GICS IndustryGroupHealth Care Equipment & Services

GICS IndustryHealth Care Equipment & Supplies

Earnings (Last)10-09 2025-10-09/bmo

Earnings (Next)01-08 2026-01-08

Inst Owners112.45%

Inst Owner Change-0.01%

Ins Owners0.42%

Ins Owner Change83.02%

Market Cap1.29B

Analysts76.36

Price Target6.63 (11.43%)

Short Float %9.97%

Short Ratio3.42

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-13.85%

Min EPS beat(2)-34.64%

Max EPS beat(2)6.94%

EPS beat(4)2

Avg EPS beat(4)-6.75%

Min EPS beat(4)-34.64%

Max EPS beat(4)11.56%

EPS beat(8)2

Avg EPS beat(8)-12.49%

EPS beat(12)4

Avg EPS beat(12)45.16%

EPS beat(16)5

Avg EPS beat(16)24.16%

Revenue beat(2)1

Avg Revenue beat(2)0.03%

Min Revenue beat(2)-0.4%

Max Revenue beat(2)0.46%

Revenue beat(4)1

Avg Revenue beat(4)-0.95%

Min Revenue beat(4)-3.66%

Max Revenue beat(4)0.46%

Revenue beat(8)2

Avg Revenue beat(8)-0.99%

Revenue beat(12)3

Avg Revenue beat(12)-0.84%

Revenue beat(16)3

Avg Revenue beat(16)-1.21%

PT rev (1m)0%

PT rev (3m)-23.53%

EPS NQ rev (1m)0%

EPS NQ rev (3m)-52%

EPS NY rev (1m)0%

EPS NY rev (3m)20.49%

Revenue NQ rev (1m)0%

Revenue NQ rev (3m)-5.87%

Revenue NY rev (1m)-0.18%

Revenue NY rev (3m)-8.52%

Valuation

		Industry Rank	Sector Rank
PE	19.83
Fwd PE	16.91
P/S	1.46
P/FCF	N/A
P/OCF	14.86
P/B	0.61
P/tB	N/A
EV/EBITDA	19.63

EPS(TTM)0.3

EY5.04%

EPS(NY)0.35

Fwd EY5.91%

FCF(TTM)-0.01

FCFYN/A

OCF(TTM)0.4

OCFY6.73%

SpS4.08

BVpS9.75

TBVpS-1.55

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-30.88%
ROE	-49.23%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	46.39%
FCFM	N/A

ROA(3y)-10.81%

ROA(5y)-4.19%

ROE(3y)-17.92%

ROE(5y)-8.21%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y0.72%

GM growth 5Y0.07%

F-Score3

Asset Turnover0.26

Health

		Industry Rank	Sector Rank
Debt/Equity	0.37
Debt/FCF	N/A
Debt/EBITDA	8.03
Cap/Depr	75.94%
Cap/Sales	10.17%
Interest Coverage	N/A
Cash Conversion	88.14%
Profit Quality	N/A
Current Ratio	3.58
Quick Ratio	2.26
Altman-Z	0.78

F-Score3

WACC7.59%

ROIC/WACCN/A

Cap/Depr(3y)85.8%

Cap/Depr(5y)97.5%

Cap/Sales(3y)10.58%

Cap/Sales(5y)8.42%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)-25%

EPS 3Y-9.82%

EPS 5Y-10.2%

EPS Q2Q%-42.86%

EPS Next Y-24.27%

EPS Next 2Y3.26%

EPS Next 3Y-1.41%

EPS Next 5Y0.4%

Revenue 1Y (TTM)-2.77%

Revenue growth 3Y19.28%

Revenue growth 5Y16.43%

Sales Q2Q%-3.58%

Revenue Next Year-8.08%

Revenue Next 2Y-3.09%

Revenue Next 3Y-1.21%

Revenue Next 5Y0.6%

EBIT growth 1Y-147.92%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year136.85%

EBIT Next 3Y34.41%

EBIT Next 5Y19.96%

FCF growth 1Y39.48%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y11.3%

OCF growth 3Y-5.05%

OCF growth 5Y-7.47%

NEOGEN CORP (NEOG) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

More info and screens

4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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