NEOGNasdaqIn Vitro & In Vivo Diagnostic SubstancesUS GAAP · USD

Neogen Corporation

Neogen Corp develops and sells products and services used to test food, feed, and agricultural inputs for safety and quality, while also providing genomics and animal safety solutions. The company serves global food producers, laboratories, veterinarians, breeders, and distributors through a mix of direct sales and channel partners, with a strong international footprint.

Kysy yhtiöstä
Liikevaihto870milj. USD
−2,7 %v/v
Liikevoitto (EBIT)−21,6milj. USD
+98,0 %v/v
EBIT-marginaali−2,5%
+116,1 %-yks.v/v
Nettotulos−7,9milj. USD
+99,3 %v/v
Vapaa kassavirta31,9milj. USD
+168,8 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−1 500−1 000−50005001 000milj. USD2021: 468 milj. USD2021: EBIT 74 milj. USD20212022: 527 milj. USD2022: EBIT 59 milj. USD20222023: 822 milj. USD2023: EBIT 38 milj. USD20232024: 924 milj. USD2024: EBIT 59 milj. USD20242025: 895 milj. USD2025: EBIT −1 061 milj. USD20252026: 870 milj. USD2026: EBIT −22 milj. USD2026870−22
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Neogen Corporation

Liiketoiminta

Osuus liikevaihdosta
Food Safety Testing55 %

Disposable tests, culture media, pathogen detection, sanitation, allergen, and toxin testing products.

Animal Safety25 %

Veterinary diagnostics, animal health products, genomics services, and related instruments.

Pest Control and Hygiene10 %

Rodent control, insect control, cleaners, and disinfectants used in agricultural and food environments.

Services and Support10 %

Genomics testing services, training, technical support, and instrument service activities.

Tuotteet

Raportoitu · osuus liikevaihdosta
88,3%11,7%FY2026100 %
  • Products88,3 %
  • Services11,7 %

Lähde: 10-K FY2026, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Neogen sells to food processors, laboratories, and agricultural customers that need fast, reliable testing to protect product quality and compliance. In animal safety, its customers include veterinarians, livestock producers, breed associations, genetics companies, retailers, distributors, and government agencies. The company also serves end markets such as companion animals, dairy, swine, poultry, beef, aquaculture, and commercial testing labs.

Food processors and quality labs

Buy allergen, toxin, pathogen, sanitation, and sample testing products to verify food safety and compliance.

Livestock and animal production customers

Buy genomics services, diagnostics, and animal safety products to improve herd performance and health.

Veterinarians and companion animal channels

Buy veterinary instruments, diagnostics, and related products for clinical use and resale.

Distributors and retailers

Buy Neogen products for resale and channel reach, especially in markets without direct presence.

Breeding, genetics, and research organizations

Buy genomics testing and specialized products to support breeding decisions and research workflows.

Strategia

Neogen is focused on expanding existing product sales, launching new products, and growing international revenue while continuing to acquire complementary businesses and technologies. Management also emphasizes integration of the 3M Food Safety transaction, in-house manufacturing transition for Petrifilm, and operational improvements to protect margins and support growth. The strategy is aimed at broadening the product portfolio and strengthening global distribution reach.

Integrate the 3M Food Safety businessLyhyt aikaväli

Successful integration is needed to realize synergies, stabilize operations, and support growth.

Expand international salesKeskipitkä aikaväli

International markets are a major growth lever and help diversify demand beyond the U.S.

Develop and commercialize new productsKeskipitkä aikaväli

New products help offset competitive pressure and support share gains in food and animal safety.

Improve manufacturing and supply chain controlKeskipitkä aikaväli

In-house production and better supply resilience can reduce disruption and support margins.

Maantiede

Neogen generates a large share of revenue outside the United States and maintains operations in 28 countries beyond the U.S. It has direct sales and manufacturing/service presence across Europe, Latin America, Asia Pacific, Canada, and the U.S., with regional hubs in Scotland, Brazil, China, and Australia/New Zealand. International exposure matters because foreign exchange, distributor mix, and local market demand materially affect results.

Riskit

Neogen faces execution risk from integrating the 3M Food Safety business and from realizing expected synergies after a large transaction. It is also exposed to supplier concentration, distributor dependence, foreign exchange, tariffs, and competitive pressure across many product lines. Goodwill and intangible asset impairment risk is elevated given the recent impairment charge and the sensitivity of valuations to cash flow assumptions.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →3M Food Safety integration risk1Foreign exchange volatility2Goodwill and intangible asset impairment3Supplier and single-source dependency4Distributor channel dependence5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. 3M Food Safety integration riskVaikutus: KorkeaTodennäköisyys: Korkea

    The company still needs to integrate manufacturing and operations to realize transaction benefits.

    KohdistuuSynergiesCost structureGrowth expectations
  2. Foreign exchange volatilityVaikutus: KorkeaTodennäköisyys: Korkea

    International revenue is large and management disclosed a material currency headwind in fiscal 2025.

    Kohdistuu: Reported revenue and operating results

  3. Goodwill and intangible asset impairmentVaikutus: KorkeaTodennäköisyys: Korkea

    A large goodwill impairment already occurred, and further declines in cash flows could trigger more charges.

    Kohdistuu: Balance sheet carrying values and earnings

  4. Supplier and single-source dependencyVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Some raw materials and products come from third parties or sole sources, creating disruption risk.

    KohdistuuProduction continuityProduct availabilityMargins
  5. Distributor channel dependenceVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    A meaningful portion of sales is made through distributors, which can affect demand visibility and pricing.

    Kohdistuu: Channel inventory swings and customer access

Kysy Clarifolta: Neogen Corporation

Kirjanpito

Harkinnanvaraiset erät
Goodwill impairment

A $461.4 million charge in Food Safety shows valuation sensitivity to future cash flows and discount rates.

Vaikutus: Can materially affect net income and balance sheet equity

Fair value estimation

Management uses discounted cash flow and market multiples to test reporting unit value.

Vaikutus: Changes in assumptions can trigger additional impairment charges

Revenue mix between products and services

Genomics services and product sales may be recognized differently and have different seasonality.

Vaikutus: Affects quarterly comparability and margin analysis

Foreign currency translation

International revenue is significant and currency headwinds were explicitly disclosed.

Vaikutus: Can change reported revenue growth without changing underlying demand

Divestitures and discontinued product lines

Recent portfolio changes affect reported revenue trends and cost structure.

Vaikutus: Reduces comparability across periods

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026