Neogen Corporation (NEOG)
Fixed asset turnover
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 924,222 | 822,447 | 527,159 | 468,459 | 418,170 |
| Property, plant and equipment | US$ in thousands | — | 198,749 | 110,584 | 100,453 | 78,671 |
| Fixed asset turnover | — | 4.14 | 4.77 | 4.66 | 5.32 |
May 31, 2024 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $924,222K ÷ $—K
= —
Neogen Corporation's fixed asset turnover has shown a declining trend over the past few years. It decreased from 5.32 in May 31, 2020, to 4.66 in May 31, 2021, and then slightly increased to 4.77 in May 31, 2022. However, there was a notable drop to 4.14 in May 31, 2023. The lack of data for May 31, 2024, prevents further analysis for that year.
The decreasing fixed asset turnover indicates that Neogen Corporation may be less efficient in generating sales revenue from its investment in fixed assets over time. This trend may suggest underutilization of fixed assets or potential inefficiencies in operations or asset management. Further investigation into the company's operational performance and asset utilization is recommended to understand the factors contributing to the declining fixed asset turnover ratio.
Peer comparison
May 31, 2024