Neogen Corporation (NEOG) Key Metrics
NEOG valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.58B
- Enterprise value
- $3.57B
- P/E (TTM)
- — 10-yr median 60.9
- Forward P/E
- 16.0
- PEG ratio
- 0.66
- Price / sales
- 2.9 10-yr median 6.1
- Price / book
- 1.4 10-yr median 3.9
- EV / EBITDA
- 20.9 10-yr median 29.7
- Dividend yield
- —
- Beta
- 1.79
NEOG key metrics, FY2017–FY2026
Fiscal year ended May 31, 2026 · U.S. dollarsNEOG valuation Price multiples at each fiscal year-end price.
Price / sales+57.8%
2.2
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / book+51.9%
0.9
FY2026 · hover or tap a bar for each year
FY2017FY2026
EV / EBITDA
15.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / free cash flow
61.2
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow yield+5.3 pts
1.6%
FY2026 · hover or tap a bar for each year
FY2017FY2026
NEOG returns How much profit the business earns on the capital it uses.
Return on equity+41.5 pts
−0.4%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on invested capital−0.8 pts
−0.6%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on assets+27.1 pts
−0.2%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow margin+8.8 pts
3.7%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Asset turnover+14.5%
0.26
FY2026 · hover or tap a bar for each year
FY2017FY2026
NEOG per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−3.0%
$4.00
FY2026 · hover or tap a bar for each year
FY2017FY2026
Earnings per share
−$0.04
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow per share
$0.15
FY2026 · hover or tap a bar for each year
FY2017FY2026
Book value per share+0.8%
$9.62
FY2026 · hover or tap a bar for each year
FY2017FY2026
Shares outstanding+0.3%
217.5M
FY2026 · hover or tap a bar for each year
FY2017FY2026
NEOG financial health Debt, liquidity and how easily interest is covered.
Debt / equity−13.9%
0.38
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt−$175.4M
$608.2M
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt / EBITDA
3.69
FY2026 · hover or tap a bar for each year
FY2017FY2026
Current ratio+15.3%
3.82
FY2026 · hover or tap a bar for each year
FY2017FY2026
Interest coverage
-0.4
FY2026 · hover or tap a bar for each year
FY2017FY2026
Debt / assets−10.5%
0.24
FY2026 · hover or tap a bar for each year
FY2017FY2026
NEOG efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−4 days
63 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days of inventory−14 days
132 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Days payables outstanding0 days
63 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Cash conversion cycle−18 days
133 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Capex / revenue−5.8 pts
5.9%
FY2026 · hover or tap a bar for each year
FY2017FY2026
NEOG valuation history
Fiscal year-endToday10-year median
NEOG returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NEOG debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NEOG cash returned to shareholders
DividendsBuybacksFree cash flow
NEOG price vs earnings per share
Share price at year-endEPS (right axis)
NEOG key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.95B | $1.27B | $2.85B | $3.30B | $2.86B | $4.94B | $3.76B | $2.95B | $3.95B | $2.43B |
| Enterprise value | $2.56B | $2.05B | $3.58B | $3.96B | $2.48B | $4.56B | $3.42B | $2.69B | $3.74B | $2.29B |
| P/E ratio | — | — | — | — | 59.2 | 81.2 | 63.3 | 49.1 | 62.6 | 55.5 |
| Price / sales | 2.2 | 1.4 | 3.1 | 4.0 | 5.4 | 10.6 | 9.0 | 7.1 | 9.8 | 6.7 |
| Price / book | 0.9 | 0.6 | 0.9 | 1.1 | 3.2 | 5.9 | 5.2 | 4.6 | 7.1 | 5.1 |
| Price / free cash flow | 61.2 | — | — | — | 65.5 | 90.9 | 60.9 | 60.1 | 82.0 | 53.2 |
| Price / operating cash flow | 23.4 | 21.8 | 80.7 | 80.5 | 42.0 | 61.0 | 43.8 | 46.3 | 57.2 | 40.3 |
| EV / sales | 2.9 | 2.3 | 3.9 | 4.8 | 4.7 | 9.7 | 8.2 | 6.5 | 9.3 | 6.3 |
| EV / EBITDA | 15.5 | — | 19.6 | 31.4 | 29.4 | 47.4 | 37.7 | 29.7 | 42.9 | 28.7 |
| EV / free cash flow | 80.2 | — | — | — | 56.8 | 83.9 | 55.4 | 54.6 | 77.6 | 50.0 |
| Earnings yield | −0.4% | −85.9% | −0.3% | −0.7% | 1.7% | 1.2% | 1.6% | 2.0% | 1.6% | 1.8% |
| Free cash flow yield | 1.6% | −3.6% | −2.7% | −0.7% | 1.5% | 1.1% | 1.6% | 1.7% | 1.2% | 1.9% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% |
| Share price at fiscal year-end | $8.97 | $5.86 | $13.15 | $17.49 | $26.46 | $46.16 | $35.61 | $28.18 | $37.85 | $23.74 |
| Per share | ||||||||||
| Revenue per share | $4.00 | $4.12 | $4.27 | $4.35 | $4.88 | $4.37 | $3.96 | $3.95 | $3.85 | $3.53 |
| Earnings per share | −$0.04 | −$5.03 | −$0.04 | −$0.12 | $0.45 | $0.57 | $0.56 | $0.57 | $0.60 | $0.43 |
| Operating cash flow per share | $0.38 | $0.27 | $0.16 | $0.22 | $0.63 | $0.76 | $0.81 | $0.61 | $0.66 | $0.59 |
| Free cash flow per share | $0.15 | −$0.21 | −$0.35 | −$0.13 | $0.40 | $0.51 | $0.58 | $0.47 | $0.46 | $0.45 |
| Cash per share | $0.85 | $0.59 | $0.79 | $1.30 | $3.53 | $3.56 | $3.25 | $2.55 | $2.02 | $1.40 |
| Book value per share | $9.62 | $9.55 | $14.52 | $16.59 | $8.21 | $7.85 | $6.86 | $6.08 | $5.37 | $4.61 |
| Tangible book value per share | −$1.25 | −$1.86 | −$2.32 | −$3.22 | $5.90 | $5.76 | $5.19 | $4.45 | $3.75 | $2.91 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.24 | $0.48 | $0.51 | $0.35 | $0.23 | $0.25 | $0.23 | $0.14 | $0.20 | $0.14 |
| Debt per share | $3.65 | $4.21 | $4.19 | $4.75 | $0.01 | $0.01 | $0.01 | — | $0.00 | $0.00 |
| Shares outstanding | 217.5M | 216.9M | 216.5M | 188.9M | 108.0M | 107.1M | 105.7M | 104.8M | 104.4M | 102.3M |
| Change in shares outstanding | +0.3% | +0.2% | +14.6% | +74.9% | +0.8% | +1.3% | +0.8% | +0.5% | +2.0% | +1.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −0.4% | −41.9% | −0.3% | −1.1% | 5.6% | 7.8% | 8.7% | 10.0% | 12.2% | 10.0% |
| Return on invested capital (ROIC) | −0.6% | 0.2% | 1.6% | 1.4% | 9.7% | 14.2% | 14.8% | 15.6% | 17.8% | 13.7% |
| Return on assets (ROA) | −0.2% | −27.3% | −0.2% | −0.8% | 5.1% | 7.1% | 8.0% | 9.2% | 11.0% | 8.9% |
| Return on tangible assets | −0.8% | −112.8% | −1.0% | −2.8% | 6.5% | 8.7% | 9.6% | 11.5% | 14.1% | 12.3% |
| Free cash flow margin | 3.7% | −5.2% | −8.2% | −3.0% | 8.3% | 11.6% | 14.8% | 11.9% | 12.0% | 12.6% |
| Income quality (OCF / net income) | — | — | — | — | 1.41 | 1.33 | 1.44 | 1.06 | 1.09 | 1.38 |
| Financial health | ||||||||||
| Total debt | $793.7M | $912.6M | $906.2M | $897.5M | $1.4M | $1.3M | $1.1M | — | $0 | $0 |
| Cash & short-term investments | $185.5M | $129.0M | $170.9M | $245.6M | $381.1M | $381.1M | $343.7M | $267.5M | $210.8M | $143.6M |
| Net debt | $608.2M | $783.6M | $735.3M | $652.0M | −$379.6M | −$379.8M | −$342.6M | −$267.5M | −$210.8M | −$143.6M |
| Debt / equity | 0.38 | 0.44 | 0.29 | 0.29 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Debt / assets | 0.24 | 0.26 | 0.20 | 0.20 | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 |
| Net debt / EBITDA | 3.69 | — | 4.03 | 5.18 | −4.50 | −3.94 | −3.78 | −2.95 | −2.42 | −1.80 |
| Current ratio | 3.82 | 3.32 | 3.82 | 4.03 | 8.05 | 11.03 | 11.08 | 11.75 | 9.71 | 8.14 |
| Quick ratio | 2.91 | 2.22 | 2.59 | 3.11 | 6.48 | 9.16 | 9.12 | 9.50 | 7.75 | 6.11 |
| Interest coverage | -0.4 | 0.1 | 1.1 | 0.7 | 814.1 | 950.9 | 2.9 | 3.0 | — | — |
| Working capital | $446.4M | $402.9M | $434.9M | $440.5M | $549.0M | $537.9M | $488.9M | $411.3M | $337.1M | $257.0M |
| Invested capital | $2.70B | $2.85B | $3.88B | $3.79B | $507.8M | $460.6M | $382.6M | $370.4M | $349.4M | $328.1M |
| Tangible asset value | −$272.3M | −$404.1M | −$503.1M | −$608.4M | $637.2M | $616.6M | $548.3M | $466.7M | $391.0M | $298.1M |
| Net current asset value | −$648.5M | −$795.6M | −$815.5M | −$834.3M | $521.2M | $511.6M | $465.4M | $391.7M | $318.0M | $236.3M |
| Graham number | — | — | — | — | $9.09 | $10.02 | $9.32 | $8.86 | $8.55 | $6.66 |
| Graham net-net per share | −$4.07 | −$4.76 | −$4.66 | −$5.26 | $3.81 | $3.93 | $3.62 | $3.00 | $2.40 | $1.71 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | — | — | $0 | $0 | $0 | $0 | $3.1M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Dividends + buybacks / free cash flow | — | — | — | — | 0.0% | 0.0% | 0.0% | 6.4% | 0.0% | 0.0% |
| Capex / revenue | 5.9% | 11.7% | 12.1% | 8.0% | 4.6% | 5.7% | 5.8% | 3.5% | 5.2% | 4.0% |
| Capex / operating cash flow | 61.7% | 179.6% | 316.0% | 160.3% | 35.9% | 32.9% | 28.0% | 23.0% | 30.3% | 24.2% |
| Capex / depreciation | 0.44 | 0.83 | 0.92 | 0.73 | 1.01 | 1.27 | 1.31 | 0.83 | 1.23 | 0.99 |
| Stock-based compensation / revenue | 1.5% | 1.9% | 1.5% | 1.2% | 1.4% | 1.4% | 1.5% | 1.3% | 1.2% | 1.5% |
| R&D / revenue | 2.1% | 2.4% | 2.4% | 3.2% | 3.2% | 3.5% | 3.5% | 3.1% | 2.7% | 2.9% |
| SG&A / revenue | 47.3% | 24.4% | 21.6% | 41.6% | 31.7% | 26.6% | 27.3% | 26.8% | 27.1% | 26.7% |
| Efficiency | ||||||||||
| Days sales outstanding | 62.9 | 66.6 | 64.4 | 56.1 | 66.3 | 68.8 | 73.0 | 71.2 | 67.0 | 68.8 |
| Days of inventory on hand | 132.4 | 146.6 | 127.7 | 112.2 | 143.2 | 141.0 | 148.9 | 133.0 | 128.4 | 132.3 |
| Days payables outstanding | 62.7 | 62.7 | 63.2 | 48.8 | 37.6 | 35.7 | 36.8 | 32.7 | 31.8 | 30.8 |
| Cash conversion cycle (days) | 132.7 | 150.4 | 129.0 | 119.6 | 171.9 | 174.1 | 185.1 | 171.6 | 163.5 | 170.3 |
| Receivables turnover | 5.80 | 5.48 | 5.67 | 6.50 | 5.51 | 5.31 | 5.00 | 5.12 | 5.45 | 5.31 |
| Payables turnover | 5.82 | 5.82 | 5.78 | 7.49 | 9.71 | 10.23 | 9.93 | 11.17 | 11.46 | 11.84 |
| Inventory turnover | 2.76 | 2.49 | 2.86 | 3.25 | 2.55 | 2.59 | 2.45 | 2.74 | 2.84 | 2.76 |
| Asset turnover | 0.26 | 0.22 | 0.20 | 0.30 | 0.55 | 0.55 | 0.56 | 0.63 | 0.70 | 0.74 |
| Average receivables | $150.1M | $163.2M | $163.1M | $126.5M | $95.7M | $88.3M | $83.6M | $80.8M | $73.8M | $68.1M |
| Average payables | $79.4M | $81.3M | $79.9M | $55.6M | $29.3M | $24.8M | $22.4M | $19.9M | $18.5M | $16.0M |
| Average inventory | $167.6M | $190.1M | $161.5M | $128.1M | $111.5M | $97.9M | $90.5M | $81.0M | $74.6M | $68.8M |
| Intangibles / total assets | 70.7% | 71.9% | 80.2% | 82.2% | 25.2% | 24.3% | 22.2% | 24.6% | 27.4% | 32.9% |
Computed from NEOG's annual financial statements (latest annual report filed July 30, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NEOG valuation and financial ratios
Neogen earned a return on equity of −0.4% and a return on invested capital of −0.6% in fiscal 2026. It ended the year with $793.7 million of debt and $185.5 million in cash and short-term investments, net debt of $608.2 million. The share count rose 112.5% from 102.3M to 217.5M over 9 years.
See the NEOG income statement, the NEOG chart for price history, or the NEOG stock overview for the latest quote and news.
NEOG key metrics FAQ
What is Neogen's EV/EBITDA?
Neogen's enterprise value was 15.5 times EBITDA at the end of fiscal 2026 (enterprise value $2.6 billion, EBITDA $164.9 million); the current EV/EBITDA is 20.9.
What is Neogen's return on equity?
Neogen's return on equity (ROE) was −0.4% in fiscal 2026: net income of -$7.9 million on average shareholders' equity of $2.1 billion.
What is Neogen's ROIC?
Neogen's return on invested capital was −0.6% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Neogen have?
Neogen had total debt of $793.7 million at the end of fiscal 2026, a debt-to-equity ratio of 0.38 and $608.2 million of net debt (3.69 times EBITDA).
What is Neogen's free cash flow yield?
Neogen generated $31.9 million of free cash flow in fiscal 2026, a free cash flow yield of 1.6% on its market value at year-end ($2.0 billion).
What is Neogen's current ratio?
Neogen's current ratio was 3.82 at the end of fiscal 2026: current assets were 3.82 times current liabilities.