Neogen Corporation (NEOG)

The days of inventory on hand (DOH) for Neogen Corporation over the specified period exhibits notable fluctuations. As of May 31, 2021, the company maintained an average of 145.05 days of inventory, reflecting the duration inventory levels were held before sale or consumption. This figure increased by approximately 12.07 days in the following year, reaching 157.12 days as of May 31, 2022, indicating a lengthening of inventory holding periods during that time.

However, a significant decrease occurred by May 31, 2023, with DOH declining to 117.27 days, representing a reduction of nearly 39.85 days compared to the prior year. This decline suggests an improvement in inventory turnover or changes in inventory management efficiency during that period.

Subsequent data points show that the DOH increased again, reaching 150.07 days as of May 31, 2024, which indicates a return to higher inventory holding levels, though still below the peak observed in 2022. Finally, as of May 31, 2025, the DOH slightly decreased to 147.19 days, implying a relatively stable inventory cycle with minor fluctuations.

Overall, the trend demonstrates a period of increased inventory holding duration in 2022, a marked reduction in 2023, and subsequent stabilization at higher levels in 2024 and 2025. The variability underscores shifts in inventory management strategies, product demand, or supply chain efficiencies during these years.

Peer comparison

May 31, 2025