What is Neogen's R&D?

Neogen (NEOG) reported R&D of $3.8M in Q4 2025.

How has Neogen's R&D changed year-over-year?

Neogen's R&D decreased by 15.6% year-over-year, from $4.5M to $3.8M.

What is the long-term trend for Neogen's R&D?

Over 3 years (2022 to 2025), Neogen's R&D has grown at a 7.4% compound annual growth rate (CAGR), from $17.05M to $21.09M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Neogen NEOG R&D

R&D at other companies

Thermo Fisher ScientificTMO

$336M-1.8%

Idexx LaboratoriesIDXX

$65.79M+11.4%

ZoetisZTS

$180M+11.1%

RevvityRVTY

$57.89M+8.0%

Merck & Co.MRK

$12.59B+248%

TEC

Bio-TechneTECH

$23.46M-4.6%

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$1.96B+95.6%

Enterprise value$2.59B+46.1%

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

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Return on equity-25.6%+28.8pp

Debt / equity0.4×0.0×

Current ratio3.9×0.0×

Where this comes from

Reported directly by Neogen in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

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 R&D?: Neogen (NEOG) reported R&D of $3.8M in Q4 2025.
How has Neogen's R&D changed year-over-year?: Neogen's R&D decreased by 15.6% year-over-year, from $4.5M to $3.8M.
What is the long-term trend for Neogen's R&D?: Over 3 years (2022 to 2025), Neogen's R&D has grown at a 7.4% compound annual growth rate (CAGR), from $17.05M to $21.09M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.