olivLaw · US equity research
Neogen Corporation NEOG
In Vitro & In Vivo Diagnostic Substances · SIC 2835 · Vertical: In Vitro & In Vivo Diagnostic Substances (SIC 2835)
Neogen Corporation develops, manufactures and markets diagnostic and solutions for food and animal safety, with an animal safety unit and a genomics business that is being sold. In the first quarter of fiscal 2027 revenue reached 222.8 million USD, and full-year guidance was raised to a range of 885 to 890 million USD.
At the close of 04 Nov 2026, Neogen Corporation (NEOG) stock was 12.46 USD (+2.98% on the day), with market capitalisation 2.7 bn USD, beta 0.39, 52-week range 5.41–13.98 USD. Latest reported quarter (Q1 2027): revenue of 222.8 m USD (+6.5% YoY), net income of -11.9 m USD (−132.8% YoY), diluted EPS -0.05 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 55.0
- neutral
- Bollinger (20, 2)
- 11.51 – 12.50
- in the upper half of the band · %B 0.96 · band width 8.3%
- SMA 50 / 200
- 12.24 / 10.45
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- -0.02 / -0.05
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.2% | −1.1% | −3.1 pp | — |
| 3 months | +9.3% | −0.5% | +9.8 pp | — |
| 6 months | +35.7% | +4.4% | +31.3 pp | — |
| Year to date | +78.3% | +12.3% | +65.9 pp | — |
| 1 year | +106.3% | +13.5% | +92.7 pp | −26.8% |
| 3 years | −21.2% | +76.4% | −97.7 pp | −63.5% |
| 5 years | −72.5% | +63.7% | −136.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 31 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 231.3 m | 221.0 m | 225.5 m | 209.2 m | 224.7 m | 211.2 m | 225.3 m | 222.8 m |
| Cost of revenue | 117.9 m | 110.7 m | 132.6 m | 114.2 m | 118.0 m | 112.2 m | 117.5 m | 117.3 m |
| Gross profit | 113.3 m | 110.3 m | 92.9 m | 95.0 m | 106.7 m | 99.0 m | 107.8 m | 105.5 m |
| Research & development | 5.1 m | 4.5 m | 6.3 m | 5.1 m | 4.6 m | 3.8 m | 4.9 m | 6.5 m |
| Operating income | -457.5 m | 5.4 m | -611.2 m | -16.1 m | -5.4 m | -3.3 m | 3.1 m | -1.8 m |
| Depreciation & amortisation | 30.0 m ≈ | 29.4 m ≈ | 30.3 m | 29.1 m | 28.9 m ≈ | 28.9 m ≈ | 29.4 m | 29.1 m |
| Pre-tax income | -476.6 m | -9.7 m | -631.2 m | 43.8 m | -20.4 m | -20.3 m | -12.1 m | -14.9 m |
| Income tax | -20.3 m | 1.2 m | -19.0 m | 7.5 m | -4.4 m | -3.3 m | -800.0 k | -3.0 m |
| Net income | -456.3 m | -10.9 m | -612.2 m | 36.3 m | -15.9 m | -17.0 m | -11.3 m | -11.9 m |
| Diluted EPS | -2.10 | -0.05 | -2.82 ≈ | 0.17 | -0.07 | -0.08 | -0.05 ≈ | -0.05 |
| Operating cash flow | 40.3 m ≈ | 19.5 m ≈ | 16.4 m | 10.8 m | 19.5 m ≈ | 22.7 m ≈ | 30.2 m | 12.9 m |
| Capex | 17.2 m ≈ | 32.9 m ≈ | 16.1 m | 24.0 m | 11.7 m ≈ | 11.6 m ≈ | 4.0 m | 8.2 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 414.2 m | 418.2 m | 468.5 m | 527.2 m | 822.4 m | 924.2 m | 894.7 m | 870.4 m |
| Revenue YoY | +4.1% | +1.0% | +12.0% | +12.5% | +56.0% | +12.4% | −3.2% | −2.7% |
| Net income | 60.2 m | 59.5 m | 60.9 m | 48.3 m | -22.9 m | -9.4 m | -1.1 bn | -7.9 m |
| Net income YoY | −4.7% | −1.2% | +2.4% | −20.7% | −147.3% | unavailable | unavailable | unavailable |
| Diluted EPS | 0.57 | 0.56 | 0.57 | 0.45 | -0.12 | -0.04 | -5.03 | -0.04 |
| Diluted EPS YoY | −52.9% | −1.8% | +1.8% | −21.1% | −126.7% | unavailable | unavailable | unavailable |
| net % | 14.5% | 14.2% | 13.0% | 9.2% | -2.8% | -1.0% | -122.1% | -0.9% |
| Free cash flow | 49.2 m | 61.8 m | 54.4 m | 43.6 m | -24.7 m | -76.1 m | -46.4 m | 31.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 May 2026
- Cash
- 185.5 m USD
- Financial debt
- 793.7 m USD
- Net debt
- 608.2 m USD
- Equity
- 2.1 bn USD
- Total assets
- 3.3 bn USD
- Debt / equity
- 0.38x
- Current ratio
- 3.82x
- ROE
- -0.4%
- ROA
- -0.2%
- FCF margin
- 3.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 468.5 m | 527.2 m | 822.4 m | 924.2 m | 894.7 m | 870.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Cost of revenue | 253.4 m | 284.1 m | 416.5 m | 460.3 m | 473.3 m | 461.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Gross profit | 215.1 m | 243.0 m | 406.0 m | 463.9 m | 421.4 m | 408.5 m | SEC (XBRL)· 30 Jul 2026verified |
| Research & development | 16.2 m | 17.0 m | 26.0 m | 22.5 m | 21.1 m | 18.4 m | SEC (XBRL)· 30 Jul 2026verified |
| Operating income | 74.2 m | 58.6 m | 37.5 m | 58.6 m | -1.1 bn | -21.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Depreciation & amortisation | 21.0 m | 23.7 m | 88.4 m | 116.7 m | 119.5 m | 116.3 m | SEC (XBRL)· 30 Jul 2026verified |
| EBITDA | 95.2 m ≈ | 82.3 m ≈ | 125.9 m ≈ | 175.3 m ≈ | -941.5 m ≈ | 94.7 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Interest expense | — | — | 27.3 m | 42.2 m | 38.1 m | 24.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Pre-tax income | 75.3 m | 60.2 m | -22.0 m | -14.3 m | -1.1 bn | -9.0 m | SEC (XBRL)· 30 Jul 2026verified |
| Income tax | 14.4 m | 11.9 m | 828.0 k | -4.9 m | -41.1 m | -1.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Net income | 60.9 m | 48.3 m | -22.9 m | -9.4 m | -1.1 bn | -7.9 m | SEC (XBRL)· 30 Jul 2026verified |
| Diluted EPS | 0.57 | 0.45 | -0.12 | -0.04 | -5.03 | -0.04 | SEC (XBRL)· 30 Jul 2026verified |
| Weighted average diluted shares | 107.1 m | 108.0 m | 188.9 m | 216.5 m | 216.9 m | 217.5 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 75.6 m | 44.5 m | 163.2 m | 170.6 m | 129.0 m | 185.5 m | SEC (XBRL)· 30 Jul 2026verified |
| Receivables | 91.8 m | 99.7 m | 153.3 m | 173.0 m | 153.4 m | 146.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Inventories | 100.7 m | 122.3 m | 133.8 m | 189.3 m | 190.8 m | 144.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Current assets | 591.5 m | 626.8 m | 585.9 m | 589.2 m | 576.9 m | 604.6 m | SEC (XBRL)· 30 Jul 2026verified |
| Property, plant & equipment, net | 100.5 m | 110.6 m | 198.7 m | 277.1 m | 339.1 m | 329.8 m | SEC (XBRL)· 30 Jul 2026verified |
| Goodwill | 131.5 m | 142.7 m | 2.1 bn | 2.1 bn | 1.1 bn | 1.0 bn | SEC (XBRL)· 30 Jul 2026verified |
| Intangibles (excl. goodwill) | 76.8 m | 92.1 m | 1.6 bn | 1.5 bn | 1.4 bn | 1.3 bn | SEC (XBRL)· 30 Jul 2026verified |
| Total assets | 920.2 m | 992.9 m | 4.6 bn | 4.5 bn | 3.4 bn | 3.3 bn | SEC (XBRL)· 30 Jul 2026verified |
| Accounts payable | 23.9 m | 34.6 m | 76.7 m | 83.1 m | 79.6 m | 79.1 m | SEC (XBRL)· 30 Jul 2026verified |
| Short-term debt | — | — | 900.0 m | 2.4 m | 19.3 m | 0 | SEC (XBRL)· 30 Jul 2026verified |
| Long-term debt | — | 0 | 885.4 m | 888.4 m | 874.8 m | 793.7 m | SEC (XBRL)· 30 Jul 2026verified |
| Current liabilities | 53.6 m | 77.8 m | 145.5 m | 154.3 m | 174.0 m | 158.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Total liabilities | 79.8 m | 105.6 m | 1.4 bn | 1.4 bn | 1.4 bn | 1.3 bn | SEC (XBRL)· 30 Jul 2026verified |
| Equity | 840.4 m | 887.4 m | 3.1 bn | 3.1 bn | 2.1 bn | 2.1 bn | SEC (XBRL)· 30 Jul 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 81.1 m | 68.0 m | 41.0 m | 35.3 m | 58.2 m | 83.2 m | SEC (XBRL)· 30 Jul 2026verified |
| Capex | 26.7 m | 24.4 m | 65.8 m | 111.4 m | 104.6 m | 51.3 m | SEC (XBRL)· 30 Jul 2026verified |
| Free cash flow | 54.4 m ≈ | 43.6 m ≈ | -24.7 m ≈ | -76.1 m ≈ | -46.4 m ≈ | 31.9 m ≈ | SEC (XBRL)· 30 Jul 2026derived |
| Investing cash flow | -105.6 m | -97.2 m | 201.0 m | -29.3 m | -99.2 m | 70.5 m | SEC (XBRL)· 30 Jul 2026verified |
| Financing cash flow | 33.5 m | 6.8 m | -118.1 m | 1.9 m | -1.6 m | -99.4 m | SEC (XBRL)· 30 Jul 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 27 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet20
- Growth16
- Valuation10
- Quality59
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.00 – 3.56 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
- Peers: EV/EBITDA0.00 – 3.56 (Mid 1.22)4 companies used · median multiple 15.1x · quartiles 12.1x – 19.8xICCC, IDXX, LNTH, QDEL
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 27/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -0.2% | 50 (vs peers) | 16% |
| Net margin · Quality | -6.3% | 73 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 1.9% | 16 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 12.7x | 0 (on a fixed band) | 16% |
| Interest coverage · Balance sheet | -0.3x | 0 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 3.9x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | 37.7x | 0 (on a fixed band) | 16% |
| FCF yield · Valuation | 1.8% | 23 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet20/100 · 3/3 factors with a value
- Growth· partial16/100 · 1/2 factors with a value
- Quality59/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation10/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Neogen Corporation (NEOG). Latest full fiscal year: 2026; data up to 2026-08-31.
Figures computed from the financial statements: revenue 870.4 m USD in 2026; YoY growth -2.7%; net margin -6.3%; ROE -2.7%; net debt/EBITDA 12.7x.
The estimated value range is 0.00–3.56 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 1.22 USD, the price of 12.46 USD leaves a potential of -90.2% (value / price − 1) and a margin of safety of -921.8% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 27/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: -6.3%
- Current ratio: 3.9x
What contradicts it
- Revenue CAGR 3Y: 1.9%
- Net debt / EBITDA: 12.7x
- Interest coverage: -0.3x
- EV/EBITDA: 37.7x
- FCF yield: 1.8%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): FCF conversion, EPS CAGR 3Y, P/E (TTM), Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
In Vitro & In Vivo Diagnostic Substances (SIC 2835) · same industry (4-digit SIC) · compared with 17 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| IDXXIdexx Laboratories Inc | 55.0 bn | 47.1 | 68.9% | 25.4% | +10.4% | −7% / +50% |
| LNTHLantheus Holdings, Inc. | 6.6 bn | 24.5 | 22.2% | 17.7% | +0.5% | +72% / +41% |
| NEOGNeogen Corporation | 2.7 bn | — | -2.7% | -6.3% | −2.7% | +106% / −21% |
| TRIBTrinity Biotech PLC | 2.4 bn | — | — | -51.6% | +8.3% | −80% / −91% |
| CLDXCelldex Therapeutics, Inc. | 2.4 bn | — | -43.9% | -190,220.9% | −78.0% | +11% / −1% |
| NTLAIntellia Therapeutics, Inc. | 1.7 bn | — | -6,424.8% | -672.2% | +16.9% | +37% / −58% |
| QDELQuidelortho Corp | 984.6 m | — | -19.3% | -14.2% | −1.9% | −48% / −79% |
| ACHVAchieve Life Sciences, Inc. | 718.3 m | — | -845.0% | — | unavailable | +43% / +21% |
| MYGNMyriad Genetics, Inc. | 575.8 m | — | -32.5% | -14.0% | −1.6% | −21% / −68% |
| TKNOAlpha Teknova, Inc. | 395.7 m | — | -24.2% | -38.4% | +7.4% | +57% / +261% |
| ICCCImmuCell Corporation | 94.2 m | 138.2 | 2.6% | 2.6% | +4.3% | +114% / +128% |
| IMDXInsight Molecular Diagnostics Inc. | 86.7 m | — | — | -2,955.6% | +115.6% | −57% / −30% |
| BMRABiomerica, Inc. | 8.0 m | — | -113.8% | -115.5% | −16.2% | −27% / −77% |
| CDIOCardio Diagnostics Holdings, Inc. | 4.9 m | — | -75.4% | -44,771.8% | −57.5% | −43% / −97% |
| QCLSQ/C Technologies, Inc. | 3.2 m | — | -155.0% | — | −5.3% | −89% / −100% |
| VNRXVolitionRx Limited | 2.8 m | — | — | -1,043.1% | +40.0% | −97% / −99% |
| VRAXVirax Biolabs Group Ltd | 695.1 k | — | -109.6% | -95,739.2% | −96.0% | −88% / −98% |
| NNNNAnbio Biotechnology | — | 25.0 | 27.0% | 74.1% | +5.6% | −84% / unavailable |
1- and 3-year price returns: for NEOG from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Neogen Corporation develops, manufactures and markets diagnostic and solutions for food and animal safety, with an animal safety unit and a genomics business that is being sold. In the first quarter of fiscal 2027 revenue reached 222.8 million USD, and full-year guidance was raised to a range of 885 to 890 million USD 3.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Petrifilm manufacturing transitionhigh
Moving manufacturing from 3M to Neogen is complex, and delays or extra costs could reduce the expected benefits 1.
- Genomics divestituremedium
Closing the sale to Zoetis depends on regulatory approvals, and closing could be delayed or might not happen 1.
- Tariffs and international tradehigh
Sales outside the U.S. are a large part of the business, and trade measures could affect sales and costs 1.
- Internal controlmedium
Maintaining effective internal controls is essential, and errors could affect financial reporting 1.
- Dependence on acquisitionslow
The growth strategy relies partly on acquisitions, and integrating them could prove difficult 1.
Investment thesis
What would need to be true (bull case)
- Revenue and adjusted EBITDA growth in the first quarter, together with raised guidance, suggest progress in execution 3.
- A recovery in the food sector and rising animal herds could support sales over the medium term 2.
- The diverse portfolio and international network give a solid base for organic growth 1.
What to watch
- Completion of the genomics sale to Zoetis and regulatory approvalsQ4 2026
- Start of Petrifilm manufacturing at Lansing and full transition2027
- Delivery against the raised revenue and adjusted EBITDA guidanceQ2 2027
- Evolution of tariffs and their impact on international salesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Neogen develops, manufactures and markets a diverse line of products and services dedicated to food and animal safety 1. The Food Safety segment consists mainly of diagnostic test kits and complementary products, such as culture media, sold to food and feed producers to detect pathogens, allergens and natural toxins 1. The Animal Safety segment covers veterinary instruments, pharmaceuticals, vaccines, rodent and insect control products and genomics services, sold mainly through veterinarians, retailers and distributors 1.
The growth strategy rests on increasing sales of existing products, introducing innovative products, growing international sales and making acquisitions or strategic alliances 1. In fiscal 2026 sales outside the U.S. made up a major share of total revenue 1. The company divested its Cleaners and Disinfectants business in July 2025 1.
On October 6, 2026, the company said it remained on track to manufacture saleable Petrifilm product, with the planned manufacturing transition starting in November 2026 3. For the first quarter of fiscal 2027 it reported a net loss of 11.9 million USD, compared with net income in the prior-year quarter 3.
Segments
Market context
The food market has been hurt by inflation and lower production, but the company sees signs of improvement and expects gradually rising growth in fiscal 2027 1. The animal market has stayed near cyclical lows, though indicators have improved, with U.S. herd sizes near multi-decade lows and favorable cattle pricing 2.
International revenue remains a major part of the business, and the company sells through distributor networks in more than 100 countries 1. Sensitivity to tariffs and exchange rates remains a factor affecting demand and costs 1.
Trends
- Tariffs and trade policyheadwind
Higher tariffs have raised the cost of imported materials and hurt sales abroad, and further measures could amplify these effects 1.
- Recovery in food productiontailwind
Signs of improving volumes in the food industry and rising sales of indicator products could support growth in fiscal 2027 2.
- Petrifilm production in-sourcingmixed
Moving Petrifilm manufacturing from 3M to Neogen could reduce duplicate costs if completed without delays 3.
- Cost of financingheadwind
High interest rates raise borrowing costs, although refinancing and debt repayments have reduced the effect 2.
Competitive position
The company competes in food diagnostics and veterinary products with other specialised suppliers, and competitive pressure is felt most in consumer-facing product areas. The source documents do not explicitly name competitors, so these positions cannot be verified from the materials provided.
- ZoetisZTS
Named buyer of Neogen's genomics business in a deal of 160.0 million USD awaiting regulatory clearance 1.
- 3MMMM
Former owner of the Food Safety division whose Petrifilm production is being transferred to Neogen, a relationship still relevant to the transition 1.
- Regional veterinary product distributors
Neogen's external distribution channels, which are partners but could become competitors in consumer-facing products.
- Food testing laboratories
Direct competition for detection services and test kits, not individually identified in the source documents.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Stocks making the biggest moves premarket: Constellation Brands, Flutter Entertainment, Neogen & moreCNBC — Top News · 07 Oct 2026 · EN
The latest news item in our archive is from 07 Oct 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report04 Nov 2026Other events
- Current report (amendment)26 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Quarterly report07 Oct 2026
- Current report07 Oct 2026Shareholder vote · Financial statements and exhibits
- Current report06 Oct 2026Results of operations · Financial statements and exhibits
- Proxy statement21 Aug 2026
- Current report07 Aug 2026Departure or appointment of officers
- Annual report30 Jul 2026
- Current report30 Jul 2026Results of operations · Financial statements and exhibits
- Current report20 Apr 2026Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-05-31 · SEC / Neogen Corporation · 30 Jul 2026
- [2] Form 10-Q, quarter ended 2026-08-31 · SEC / Neogen Corporation · 07 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Neogen Corporation · 06 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.