Neogen Corporation (NEOG) Balance Sheet
NEOG balance sheet, FY2026
May 31, 2026 · U.S. dollars$3.35B assets = $1.25B liabilities + $2.09B equity
Both columns are drawn to the same scale: what NEOG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NEOG financial health
Current ratio3.82
Comfortable · current assets cover current liabilities 3.82×
Debt / equity0.38
Low leverage · $0.38 of debt for each $1 of equity
Equity / assets62.5%
Equity-funded · of assets funded by shareholders
Cash / debt23.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles70.7%
Mostly intangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
NEOG balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $528.4MFY2017 | $3.35BFY2026 | +22.8%/yr | |
| Total liabilities | $56.7MFY2017 | $1.25BFY2026 | +41.1%/yr | |
| Shareholders’ equity | $471.8MFY2017 | $2.09BFY2026 | +18.0%/yr | |
| Cash & short-term investments | $143.6MFY2017 | $185.5MFY2026 | +2.9%/yr | |
| Total debt | $1.1MFY2020 | $793.7MFY2026 | +201.6%/yr | |
| Net cash (debt) | $342.6MFY2020 | −$608.2MFY2026 | −$950.8M | |
| Working capital | $257.0MFY2017 | $446.4MFY2026 | +$189.4M | |
| Book value per share | $4.61FY2017 | $9.62FY2026 | +8.5%/yr | |
| Current ratio | 8.14FY2017 | 3.82FY2026 | −4.32 | |
| Debt / equity | 0.00FY2020 | 0.38FY2026 | +0.38 | |
| Shares outstanding | 102.3MFY2017 | 217.5MFY2026 | +8.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NEOG assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
NEOG liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
NEOG debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NEOG balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $185.5M | $129.0M | $170.9M | $245.6M | $381.1M | $381.1M | $343.7M | $267.5M | $210.8M | $143.6M |
| Cash & equivalents | $185.5M | $129.0M | $170.6M | $163.2M | $44.5M | $75.6M | $66.3M | $41.7M | $83.1M | $77.6M |
| Short-term investments | — | $0 | $325,000 | $82.3M | $336.6M | $305.5M | $277.4M | $225.8M | $127.7M | $66.1M |
| Receivables | $146.8M | $153.4M | $173.0M | $153.3M | $99.7M | $91.8M | $84.7M | $82.6M | $79.1M | $68.6M |
| Inventory | $144.3M | $190.9M | $189.3M | $133.8M | $122.3M | $100.7M | $95.1M | $86.0M | $76.0M | $73.1M |
| Other current assets | $128.0M | $103.7M | $56.0M | $53.3M | $23.8M | $17.8M | $14.0M | $13.4M | $9.9M | $7.6M |
| Total current assets | $604.6M | $576.9M | $589.2M | $585.9M | $626.8M | $591.5M | $537.4M | $449.5M | $375.8M | $293.0M |
| Property, plant & equipment (net) | $497.0M | $356.3M | $291.9M | $198.7M | $110.6M | $100.5M | $78.7M | $74.8M | $73.1M | $61.7M |
| Goodwill & intangible assets | $2.37B | $2.48B | $3.65B | $3.74B | $250.2M | $223.8M | $176.9M | $171.2M | $169.2M | $173.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $35.2M | $20.4M | $27.2M | $5.3M | $4.5M | $4.2M | $139,000 | $0 | $0 |
| Total assets | $3.35B | $3.44B | $4.55B | $4.55B | $992.9M | $920.2M | $797.2M | $695.7M | $618.0M | $528.4M |
| Liabilities | ||||||||||
| Accounts payable | $79.1M | $79.6M | $83.1M | $76.7M | $34.6M | $23.9M | $25.6M | $19.1M | $20.8M | $16.2M |
| Short-term debt | — | $27.4M | $10.0M | $3.3M | $2.9M | $1.3M | $1.1M | — | — | — |
| Deferred revenue | $3.6M | $5.6M | $4.6M | $4.6M | $5.5M | $3.4M | −$1.1M | — | — | — |
| Total current liabilities | $158.2M | $174.0M | $154.3M | $145.5M | $77.8M | $53.6M | $48.5M | $38.3M | $38.7M | $36.0M |
| Long-term debt | $793.7M | $874.8M | $888.4M | $885.4M | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $0 | — | $2.4M | $0 | — | — | — | — | — | — |
| Other long-term liabilities | $301.2M | $323.8M | $362.0M | $389.3M | $27.7M | $26.2M | $23.5M | $19.6M | $19.1M | $20.6M |
| Total liabilities | $1.25B | $1.37B | $1.40B | $1.42B | $105.6M | $79.8M | $72.0M | $57.8M | $57.8M | $56.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $34.8M | $34.7M | $34.7M | $34.6M | $17.2M | $17.2M | $16.9M | $8.4M | $8.3M | $8.1M |
| Retained earnings (deficit) | −$544.3M | −$536.4M | $555.6M | $565.0M | $587.9M | $539.6M | $478.7M | $419.2M | $359.1M | $295.9M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | −$13.6M | −$28.9M | −$30.0M | −$33.3M | −$27.8M | −$11.4M | −$19.7M | −$11.6M | −$9.7M | −$7.2M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $143,000 |
| Total shareholders' equity | $2.09B | $2.07B | $3.14B | $3.13B | $887.4M | $840.4M | $725.2M | $637.9M | $560.2M | $471.8M |
| Key figures | ||||||||||
| Total debt | $793.7M | $912.6M | $906.2M | $897.5M | $1.4M | $1.3M | $1.1M | — | — | — |
| Net cash (debt) | −$608.2M | −$783.6M | −$735.3M | −$652.0M | $379.6M | $379.8M | $342.6M | — | — | — |
| Working capital | $446.4M | $402.9M | $434.9M | $440.5M | $549.0M | $537.9M | $488.9M | $411.3M | $337.1M | $257.0M |
| Tangible book value | −$272.3M | −$404.1M | −$503.1M | −$608.4M | $637.2M | $616.6M | $548.3M | $466.7M | $391.0M | $298.1M |
| Book value per share | $9.62 | $9.55 | $14.52 | $16.59 | $8.21 | $7.85 | $6.86 | $6.08 | $5.37 | $4.61 |
| Shares outstanding | 217.5M | 216.9M | 216.5M | 188.9M | 108.0M | 107.1M | 105.7M | 104.8M | 104.4M | 102.3M |
| Current ratio | 3.82 | 3.32 | 3.82 | 4.03 | 8.05 | 11.03 | 11.08 | 11.75 | 9.71 | 8.14 |
| Quick ratio | 2.10 | 1.62 | 2.23 | 2.74 | 6.18 | 8.82 | 8.83 | 9.15 | 7.49 | 5.89 |
| Debt / equity | 0.38 | 0.44 | 0.29 | 0.29 | 0.00 | 0.00 | 0.00 | — | — | — |
| Equity / assets | 62.5% | 60.1% | 69.1% | 68.8% | 89.4% | 91.3% | 91.0% | 91.7% | 90.6% | 89.3% |
| Aug '26 | May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $172.0M | $185.5M | $159.9M | $145.3M | $138.9M | $129.0M | $127.7M | $140.2M | $120.5M | $170.9M | $168.4M | $230.3M |
| Cash & equivalents | $172.0M | $185.5M | $159.9M | $145.3M | $138.9M | $129.0M | $127.7M | $140.2M | $120.5M | $170.6M | $161.4M | $205.8M |
| Short-term investments | — | — | — | — | — | $0 | $0 | $0 | $317,000 | $325,000 | $7.0M | $24.5M |
| Receivables | $136.2M | $146.8M | $137.1M | $132.0M | $138.5M | $153.4M | $160.1M | $164.1M | $167.6M | $173.0M | $173.6M | $150.5M |
| Inventory | $146.1M | $144.3M | $161.7M | $162.8M | $193.4M | $190.9M | $205.4M | $198.3M | $198.6M | $189.3M | $182.4M | $160.5M |
| Other current assets | $128.2M | $128.0M | $131.3M | $134.5M | $53.3M | $103.7M | $58.5M | $67.9M | $53.9M | $56.0M | $78.0M | $83.1M |
| Total current assets | $582.5M | $604.6M | $590.0M | $574.6M | $524.1M | $576.9M | $551.7M | $570.4M | $540.6M | $589.2M | $602.5M | $624.4M |
| Property, plant & equipment (net) | $348.9M | $497.0M | $347.6M | $347.5M | $362.9M | $511.7M | $345.2M | $327.8M | $315.3M | $291.9M | $287.6M | $259.3M |
| Goodwill & intangible assets | $2.34B | $2.37B | $2.39B | $2.41B | $2.46B | $2.48B | $3.11B | $3.14B | $3.63B | $3.65B | $3.68B | $3.70B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $28.4M | $0 | $31.8M | $32.5M | $36.2M | $0 | $28.5M | $20.2M | $20.0M | $55.8M | $16.4M | $16.0M |
| Total assets | $3.30B | $3.35B | $3.36B | $3.36B | $3.38B | $3.44B | $4.04B | $4.05B | $4.50B | $4.58B | $4.58B | $4.60B |
| Liabilities | ||||||||||||
| Accounts payable | $77.6M | $79.1M | $75.2M | $63.0M | $76.6M | $79.6M | $72.2M | $79.6M | $61.5M | $83.1M | $89.7M | $112.2M |
| Short-term debt | — | — | — | — | $764,000 | $27.4M | $2.7M | $2.6M | $2.7M | $7.5M | $2.5M | $2.6M |
| Deferred revenue | $3.6M | $3.6M | $3.9M | $3.9M | $5.8M | $5.6M | $5.8M | $5.7M | $5.6M | $4.6M | $5.5M | $4.7M |
| Total current liabilities | $149.5M | $158.2M | $150.6M | $147.1M | $146.2M | $174.0M | $141.2M | $151.2M | $122.7M | $154.3M | $157.8M | $176.6M |
| Long-term debt | $0 | $793.7M | $793.3M | $792.9M | $792.5M | $874.8M | $890.6M | $889.9M | $889.1M | $888.4M | $887.7M | $886.9M |
| Lease obligations | — | $0 | $0 | $0 | $0 | — | $2.5M | $2.6M | $2.7M | $2.4M | $2.5M | $2.6M |
| Other long-term liabilities | $1.07B | $301.2M | $312.7M | $315.5M | $320.8M | $323.8M | $344.2M | $344.0M | $356.2M | $397.3M | $390.8M | $391.3M |
| Total liabilities | $1.22B | $1.25B | $1.26B | $1.26B | $1.26B | $1.37B | $1.38B | $1.39B | $1.37B | $1.44B | $1.44B | $1.45B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $34.9M | $34.8M | $34.8M | $34.8M | $34.8M | $34.7M | $34.7M | $34.7M | $34.7M | $34.7M | $34.7M | $34.6M |
| Retained earnings (deficit) | −$556.2M | −$544.3M | −$533.0M | −$516.0M | −$500.1M | −$536.4M | $75.8M | $86.7M | $543.0M | $555.6M | $561.0M | $563.1M |
| Accumulated other comprehensive income | −$12.3M | −$13.6M | −$12.5M | −$25.6M | −$23.5M | −$28.9M | −$47.7M | −$44.7M | −$31.4M | −$30.0M | −$29.5M | −$25.1M |
| Total shareholders' equity | $2.09B | $2.09B | $2.10B | $2.10B | $2.12B | $2.07B | $2.66B | $2.67B | $3.14B | $3.14B | $3.15B | $3.15B |
| Key figures | ||||||||||||
| Total debt | $774.2M | $793.3M | $793.3M | $792.9M | $792.5M | $912.6M | $893.1M | $892.4M | $891.8M | $906.2M | $890.2M | $889.5M |
| Net cash (debt) | −$602.2M | −$607.8M | −$633.4M | −$647.6M | −$653.6M | −$783.6M | −$765.4M | −$752.2M | −$771.3M | −$735.3M | −$721.7M | −$659.2M |
| Working capital | $433.0M | $446.4M | $439.4M | $427.5M | $377.9M | $402.9M | $410.5M | $419.3M | $418.0M | $434.9M | $444.6M | $447.8M |
| Tangible book value | −$257.0M | −$272.3M | −$287.2M | −$300.9M | −$336.4M | −$404.1M | −$450.6M | −$466.6M | −$492.1M | −$503.1M | −$529.9M | −$555.2M |
| Book value per share | $9.57 | $9.61 | $9.66 | $9.68 | $9.76 | $9.54 | $12.26 | $12.31 | $14.47 | $14.52 | $14.53 | $14.54 |
| Shares outstanding | 218.1M | 217.7M | 217.7M | 217.4M | 217.0M | 217.0M | 217.0M | 216.8M | 216.7M | 216.6M | 216.6M | 216.4M |
| Current ratio | 3.90 | 3.82 | 3.92 | 3.91 | 3.58 | 3.32 | 3.91 | 3.77 | 4.41 | 3.82 | 3.82 | 3.54 |
| Quick ratio | 2.06 | 2.10 | 1.97 | 1.89 | 1.90 | 1.62 | 2.04 | 2.01 | 2.35 | 2.23 | 2.17 | 2.16 |
| Debt / equity | 0.37 | 0.38 | 0.38 | 0.38 | 0.37 | 0.44 | 0.34 | 0.33 | 0.28 | 0.29 | 0.28 | 0.28 |
| Equity / assets | 63.2% | 62.5% | 62.6% | 62.6% | 62.7% | 60.1% | 65.9% | 65.8% | 69.6% | 68.6% | 68.7% | 68.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 30, 2026); data from EODHD.
NEOG financial position
At the end of fiscal 2026 (May 31, 2026), Neogen had total assets of $3.3 billion (down 2.8% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of $2.1 billion. It held $185.5 million in cash and short-term investments against $793.7 million of debt, net debt of $608.2 million. Its current ratio was 3.82. In the latest quarter (ended August 31, 2026) total assets were $3.3 billion and equity $2.1 billion.
Related: NEOG income statement, NEOG cash flow statement, NEOG key metrics. See the NEOG stock overview for the latest quote and news.
NEOG balance sheet FAQ
What are Neogen's total assets?
Neogen reported total assets of $3.3 billion at the end of fiscal 2026 (May 31, 2026), compared with $3.4 billion a year earlier.
How much debt does Neogen have?
Neogen had $793.7 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.38.
How much cash does Neogen have?
Neogen held $185.5 million in cash and short-term investments at the end of fiscal 2026; with $793.7 million of debt that is net debt of $608.2 million.
What is Neogen's book value?
Neogen's shareholders' equity (book value) was $2.1 billion at the end of fiscal 2026, or $9.62 per share.
What is Neogen's current ratio?
Neogen had current assets of $604.6 million and current liabilities of $158.2 million, a current ratio of 3.82 (it can cover its short-term obligations).
How much goodwill does Neogen have?
Neogen carried $2.4 billion of goodwill and intangible assets, 70.7% of total assets, at the end of fiscal 2026.