Neogen Corporation

The business, in plain English

Neogen Corporation booked $870M of revenue in FY2026 in the Healthcare sector and kept 46.9% of it as gross profit — a solid-margin business by that measure. After every other cost, −0.9% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $141M (FY2010) to $870M (FY2026) — about 12.1% a year compounded over 16 years.

It earned −0.6% on invested capital in the latest filed year, FY2026. Across the full 17-year measurable filed record, median ROIC was 10.6%. Over the v3 recent window (10 measurable filed years), median ROIC was 6.7%. The Returns on Capital filter above scores it 11/100.

The balance sheet carried $794M of total debt in FY2026 against $57.1M of owner earnings — roughly 13.9 years of owner earnings to retire it all. Balance-Sheet Safety scores it 0/100.

Put together: Pricing Power is the strongest of the five filters (80/100) and Balance-Sheet Safety the weakest (0/100), which is how NEOG lands at 40/100 — a None moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.