NEOGNEOGEN CORP
In Vitro & In Vivo Diagnostic Substances
- Revenue
- $870M
- 2.7% YoY
- Operating margin
- -2.5%
- 98% YoY
- EBITDA
- $95M
- 110% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 6.4×
- $602M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear4% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear32% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $527M | $822M | $924M | $895M | $870M | 2.7% |
| Operating income | $59M | $38M | $59M | −$1.1B | −$22M | 98% |
| Net income | $48M | −$23M | −$9M | −$1.1B | −$8M | 99% |
| Operating cash flow | $68M | $41M | $35M | $58M | $83M | 43% |
| Capex | $24M | $66M | $111M | $105M | $51M | 51% |
| Stock-based comp | $7M | $10M | $14M | $17M | $13M | 23% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $6K · 1
- Open-market sells, 12 mo
- $0 · 0
- Net
- $6K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | — | — | 19 | 96 |
| FY2025 | — | — | 13 | 79 |
| FY2024 | — | — | 29 | 84 |
| FY2023 | — | — | 38 | 81 |
| FY2022 | — | — | 57 | 85 |