What is Neogen's invested capital?

Neogen (NEOG) reported invested capital of $2.74B in Q4 2025.

How has Neogen's invested capital changed year-over-year?

Neogen's invested capital decreased by 20.1% year-over-year, from $3.43B to $2.74B.

What is the long-term trend for Neogen's invested capital?

Over 4 years (2021 to 2025), Neogen's invested capital has grown at a 38.9% compound annual growth rate (CAGR), from $767.27M to $2.86B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

Neogen NEOG Invested capital

Discontinued — last reported Q3 '26

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Other financials

Income statement

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Revenue$211.2M-4.4%

Gross profit$99.0M-10.2%

Operating income-$3.3M-161%

Net income-$17.0M-56.0%

EPS (diluted)-$0.08-60.0%

Balance sheet

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Cash & equivalents$159.9M+25.2%

Total debt$793.3M-11.2%

Total equity$2.1B-21.0%

Total assets$3.4B-16.8%

Cash flow

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Operating cash flow$22.7M+16.7%

CapEx$11.6M-64.7%

Free cash flow$11.1M+182%

Valuation

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Market cap$2B+86.4%

Enterprise value$2.63B+41.6%

P/S2.3×+1.1×

Profitability

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Gross margin45.2%-3.6pp

Operating margin-73.1%+77.7pp

Net margin-69.9%+30.8pp

FCF margin-14%—

Returns & leverage

See full

Return on equity-25.6%+28.8pp

Debt / equity0.4×0.0×

Current ratio3.9×0.0×

Where this comes from

Calculated from Neogen’s reported figures.

$793.3Mtotal debt+$2.1Btotal stockholders equity−$159.9Mcash and equivalents=$2.74B

The official record: Neogen’s 10-Q, filed April 9, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Neogen's invested capital?: Neogen (NEOG) reported invested capital of $2.74B in Q4 2025.
How has Neogen's invested capital changed year-over-year?: Neogen's invested capital decreased by 20.1% year-over-year, from $3.43B to $2.74B.
What is the long-term trend for Neogen's invested capital?: Over 4 years (2021 to 2025), Neogen's invested capital has grown at a 38.9% compound annual growth rate (CAGR), from $767.27M to $2.86B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).