What is Neogen's net debt?

Neogen (NEOG) reported net debt of $633.4M in Q4 2025.

How has Neogen's net debt changed year-over-year?

Neogen's net debt decreased by 17.2% year-over-year, from $765.4M to $633.4M.

What is the long-term trend for Neogen's net debt?

Over 4 years (2021 to 2025), Neogen's net debt has grown at a 81.1% compound annual growth rate (CAGR), from -$73.11M to $786.03M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Neogen NEOG Net debt

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$1.92B+12.0%

Enterprise value$2.56B+4.4%

P/S2.2×+0.3×

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−$159.9Mcash and equivalents=$633.4M

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 net debt?: Neogen (NEOG) reported net debt of $633.4M in Q4 2025.
How has Neogen's net debt changed year-over-year?: Neogen's net debt decreased by 17.2% year-over-year, from $765.4M to $633.4M.
What is the long-term trend for Neogen's net debt?: Over 4 years (2021 to 2025), Neogen's net debt has grown at a 81.1% compound annual growth rate (CAGR), from -$73.11M to $786.03M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.