Neogen Corporation — Earnings Quality Grade F
NEOG · Healthcare
Major red flags
Screening Summary
管理层信号
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 63 days, change -6 days YoY
AR growth -11.3% vs revenue growth -3.2%
Revenue -3.2%, CFFO 65.2%. Cash follows revenue
Expense Quality
Inventory 0.8% vs COGS 2.8%. Normal
CapEx growth -6.1% vs revenue -3.2%. Normal
SG&A/Gross Profit = 95.4%, exceeds 70%
Gross margin 47.1%, change -3.1pp. Stable
Cash Flow Quality
CFFO < Net Income for 3 consecutive years
FCF is negative ($-0.0B)
Accruals ratio = -33.4%. Low accruals
Cash $0.1B covers only 14% of debt $0.9B
Balance Sheet Health
Goodwill+Intangibles $2.5B = 120% of equity. Over 50%
Interest coverage = -0.0x (<2x). Financial stress
Other assets grew 72.5% vs revenue -3.2%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 3 years
Goodwill+Intangibles change -32% YoY. Normal
Manipulation Score
M-Score = -4.26 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25