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NEOG

Neogen Corporation

NEOG

Neogen Corporation • NASDAQ
$5.98 ▼ -0.99% (-0.06)
Market Cap $1.30 B
52w High $14.26
52w Low $3.87
Dividend Yield 0%
P/E -1.25
Volume 6.00M
Outstanding Shares 217.30M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $209.189M ▼ $87.951M ▲ $36.338M ▲ 17.371% ▲ $0.17 ▲ $89.305M ▲
Q4-2025 $225.459M ▲ $77.207M ▲ $-612.196M ▼ -271.533% ▼ $-2.82 ▼ $-583.812M ▼
Q3-2025 $220.98M ▼ $74.977M ▲ $-10.957M ▲ -4.958% ▲ $-0.051 ▲ $37.383M ▲
Q2-2025 $231.258M ▲ $72.663M ▼ $-456.282M ▼ -197.304% ▼ $-2.1 ▼ $-428.382M ▼
Q1-2025 $216.964M $77.777M $-12.609M -5.812% $-0.058 $32.806M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $138.883M ▲ $3.378B ▼ $1.26B ▼ $2.119B ▲
Q4-2025 $129.004M ▲ $3.444B ▼ $1.373B ▼ $2.071B ▼
Q3-2025 $127.705M ▼ $4.036B ▼ $1.376B ▼ $2.66B ▼
Q2-2025 $140.231M ▲ $4.054B ▼ $1.385B ▲ $2.669B ▼
Q1-2025 $120.477M $4.503B $1.368B $3.135B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $36.338M ▲ $10.853M ▼ $97.725M ▲ $-99.393M ▼ $9.879M ▲ $-13.149M ▼
Q4-2025 $-612.196M ▼ $14.523M ▼ $-15.929M ▲ $-94K ▼ $1.299M ▲ $-1.613M ▲
Q3-2025 $-10.957M ▲ $19.363M ▼ $-32.447M ▼ $945K ▲ $-12.526M ▼ $-13.506M ▼
Q2-2025 $-456.282M ▼ $40.253M ▲ $-17.157M ▲ $-1.409M ▼ $19.754M ▲ $23.096M ▲
Q1-2025 $-12.609M $-17.914M $-33.662M $979K $-50.134M $-56.347M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Product
Product
 $210.00M ▲$200.00M ▼$200.00M ▲$180.00M ▼
Service
Service
 $20.00M ▲$20.00M ▲$20.00M ▲$30.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown significantly over the past several years, especially after the food safety merger, but profitability has gone the other way. Gross margins look healthy, yet the company is struggling to convert that into solid operating profit, with margins staying thin and then slipping. Recent results show a sizeable accounting loss, suggesting heavy integration costs, higher operating expenses, or potential write‑downs. Overall, the business is clearly scaling, but earnings quality and consistency have weakened and remain a key area to watch.

Balance Sheet

Balance Sheet The balance sheet has expanded dramatically since the large food safety combination, with a much bigger asset base and equity base than a few years ago. Debt, which used to be minimal, is now a meaningful part of the capital structure, reflecting the financing of that deal and raising the importance of disciplined cash management. Cash on hand looks reasonable but not abundant relative to the size of the company, so flexibility is there but not unlimited. The slight step down in assets and equity in the most recent year hints at impairments or restructuring, which lines up with the pressure seen in reported earnings.

Cash Flow

Cash Flow The company continues to generate positive cash from its core operations, which is a constructive sign given the recent accounting losses. However, capital spending has risen and, combined with other investments, has pushed free cash flow into negative territory in the latest years. This pattern suggests a business still in a heavy investment and integration phase, particularly around manufacturing and technology. The key question going forward is whether these investments translate into stronger, more stable cash generation that comfortably covers interest, growth projects, and any future strategic moves.

Competitive Edge

Competitive Edge Neogen holds a strong position in the global food and animal safety markets, supported by a broad product portfolio, a trusted brand, and relationships that span from large food producers to smaller labs. The merger with 3M’s food safety unit substantially widened its reach and deepened its offerings, especially in microbiology testing, making it more of a one‑stop solution provider. Integrated platforms like Petrifilm, automated readers, and linked software make it harder for customers to switch once embedded. At the same time, the company operates in a competitive, regulated space with large diagnostics players and constant pressure to innovate, so execution on integration, service quality, and product refresh remains critical to defending this moat.

Innovation and R&D

Innovation and R&D Innovation is a clear focal point, with emphasis on faster, more automated, and more integrated testing solutions. The company is pushing molecular diagnostics that deliver rapid results, automated systems for handling high testing volumes, and genomics tools that help optimize animal production. It is also moving toward more digital and data‑rich offerings, including AI‑enabled analysis and better integration with lab information systems. The planned exit from the genomics business shows a willingness to refocus R&D and capital on its core food safety franchise, while in‑house production of key consumables like Petrifilm is aimed at improving margins and supply reliability. The opportunity is meaningful, but it depends heavily on timely product launches and smooth execution of this more focused innovation strategy.

Summary

Neogen today looks like a scaled, strategically important player in food safety that is still digesting a transformative deal and repositioning its portfolio. On the positive side, it has a larger revenue base, a stronger global footprint, respected brands, and an active pipeline of new technologies and automation tools. On the challenging side, profitability has deteriorated, recent results include a sizeable loss, leverage is higher than in the past, and free cash flow has turned negative due to heavier investment. The story going forward centers on whether management can complete integration, sharpen the portfolio, ramp in‑house manufacturing, and convert its technological and competitive strengths into steadier margins and healthier, self‑funded growth.

NEWS

November 10, 2025 · 10:32 AM UTC

Kuehn Law Encourages Investors of Neogen Corporation to Contact Law Firm

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October 30, 2025 · 8:45 AM UTC

Neogen® Corporation Announces Appointment of Bryan Riggsbee as Chief Financial Officer

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October 28, 2025 · 1:39 PM UTC

Kuehn Law Encourages Investors of Neogen Corporation to Contact Law Firm

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October 9, 2025 · 7:00 AM UTC

Neogen Announces First-Quarter 2026 Results

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September 25, 2025 · 5:26 PM UTC

Neogen® Renews Official Sponsorship with US Equestrian to Continue Advancing Equine Health Education

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