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Earnings transcript
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NEOG
Neogen Corporation
$11.73
-0.27
(-2.25%)
| Exchange: | NASDAQ |
| Market Cap: | 2.558B |
| Shares Outstanding: | 20.615M |
Delayed data
About The Company
| Sector: | HealthcareView sector performance | |||||
| Industry: | Medical – DevicesView industry performance | |||||
| CEO: | Mikhael Nassif | |||||
| Full Time Employees: | 2636 | |||||
| Address: |
| |||||
| Website: | https://www.neogen.com |
Neogen Corporation, including its affiliated companies, is a global leader in creating, manufacturing, and distributing a wide range of products crucial for maintaining food quality and animal health. The enterprise is structured into two primary divisions: Food Safety and Animal Safety. The Food Safety segment delivers advanced diagnostic test kits and associated solutions to identify detrimental or unintended contaminants in food and animal feed. This extensive detection capability covers threats such as foodborne pathogens, spoilage-causing organisms, naturally occurring toxins, food allergens, genetically modified ingredients, ruminant by-products, specific meat identification, residual drugs and pesticides, and overall sanitation issues. A key product is the AccuPoint Advanced rapid sanitation test, which quickly spots adenosine triphosphate (ATP), indicating the presence of living cells, to verify cleanliness. Customers for this segment are diverse, encompassing producers and processors of food and feed, grain operations, manufacturers of processed foods like cookies, crackers, candy, and ice cream, as well as those handling meat, poultry, seafood, fruits, vegetables, and dairy. It also serves laboratories and producers of pharmaceuticals, cosmetics, and veterinary vaccines. The Animal Safety division provides a comprehensive portfolio for the animal health market. Offerings include veterinary instruments, pharmaceuticals, vaccines, topical medications, parasiticides, diagnostic products, rodenticides, cleaning agents, disinfectants, insecticides, and genomics testing services. This segment also supplies specialized products for researchers investigating biologically active substances. Its immunoassay test kits are vital for detecting illicit and therapeutic drugs in farm and racing animals, identifying drug residues in meat and meat products, and assisting in human forensic toxicology drug screenings. Moreover, products from this division are instrumental in upholding hygienic conditions and minimizing the risks posed by bacteria, fungi, and viruses. Neogen Corporation was established in 1981 and is headquartered in Lansing, Michigan.
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Revenue Segmentation
NEOG full analysis
Hey everyone, welcome back to MarketSnap. Neogen just held its first-ever Investor Day, laid out a path to 30% EBITDA margins by 2031, and then watched the stock slide on an FDA warning tied to a recalled horse product. So before you react to any of that, we're running NEOG through our full analysis and checking fair value with the MarketSnap model — is this an overreaction, or a justified reset? Let's set the stage. Neogen is a Lansing, Michigan…
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 924,222 | 894,661 | 870,400 |
| Gross Profit | 462,635 | 421,376 | 408,500 |
| EBITDA | 182,597 | -937,754 | 164,900 |
| Operating Income | 77,426 | 9,420 | -21,600 |
| Net Income | -9,421 | -1,092,044 | -7,900 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Total Assets | 4,548,833 | 3,443,836 | 3,346,000 |
| Total Liabilities | 1,404,691 | 1,372,582 | 1,253,100 |
| Total Stockholders Equity | 3,144,142 | 2,071,254 | 2,092,900 |
| Total Debt | 906,239 | 894,111 | 0 |
| Cash and Cash Equivalents | 170,611 | 129,004 | 185,500 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating Cash Flow | 35,264 | 58,244 | 148,000 |
| Capital Expenditure | -111,421 | -104,595 | 0 |
| Free Cash Flow | -76,157 | 58,244 | 148,000 |
| Net Income | -9,421 | -1,092,044 | -7,900 |
| Net Change in Cash | 7,371 | -41,607 | 121,300 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2031 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 963,605.300 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 1,038,609.345 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 995,600 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 290,090.887 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 303,459.472 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 295,793.199 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 112,543.200 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 124,046.775 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 117,450 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 398,972.421 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 430,027.196 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 412,219.549 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 0.540 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 0.570 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 0.520 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 1 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Consistent revenue growth trajectory supported by diversified product categories and geographic revenue segments, reducing reliance on any single market or product line.
- Positive operating cash flow and free cash flow generation, indicating the company converts earnings into cash efficiently and can fund operations and capex internally.
- Strong gross profit margin profile relative to the broader sector, reflecting pricing power and a favorable product mix in its industry.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates NEOG intrinsic value between $6.99 – $7.25 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about NEOG valuation
Is Neogen Corporation (NEOG) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for Neogen Corporation (NEOG) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is NEOG a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether NEOG trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is NEOG’s P/E ratio?
You can see NEOG’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for NEOG?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is NEOG a good long-term investment?
Whether NEOG fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
NEOG
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Daily snapshot
-2.25
Trading Metrics:
| Open: | 11.98 | Previous Close: | 12 | |
| Day Low: | 11.71 | Day High: | 12.05 | |
| Year Low: | 5.37 | Year High: | 14.26 | |
| Price Avg 50: | 12.13 | Price Avg 200: | 10.14 | |
| Volume: | 2.338M | Average Volume: | 2.813M |
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