Neogen Corporation (NEOG)
Receivables turnover
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 894,661 | 905,996 | 913,828 | 912,199 | 924,222 | 929,238 | 918,681 | 919,085 | 822,447 | 720,730 | 630,719 | 531,203 | 527,159 | 514,491 | 502,956 | 487,439 | 468,459 | 450,108 | 433,268 | 426,071 |
| Receivables | US$ in thousands | 153,384 | 160,068 | 164,086 | 167,639 | 173,005 | 173,592 | 150,498 | 137,669 | 153,253 | 146,393 | 142,711 | 93,112 | 99,674 | 92,978 | 92,498 | 87,291 | 91,823 | 87,241 | 79,931 | 77,685 |
| Receivables turnover | 5.83 | 5.66 | 5.57 | 5.44 | 5.34 | 5.35 | 6.10 | 6.68 | 5.37 | 4.92 | 4.42 | 5.70 | 5.29 | 5.53 | 5.44 | 5.58 | 5.10 | 5.16 | 5.42 | 5.48 |
May 31, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $894,661K ÷ $153,384K
= 5.83
The receivables turnover ratio of Neogen Corporation has exhibited variability over the analyzed periods, reflecting changes in the company's efficiency in collecting receivables.
From August 2020 to August 2021, the ratio fluctuated within a relatively narrow band, ranging from 5.10 to 5.58, indicating a consistent collection cycle and stable credit management practices during this period. Notably, the ratio reached a peak of 5.58 in August 2021, suggesting improved efficiency in receivable collections at that time.
Subsequently, there was a decline observed in the latter part of 2021 and early 2022, with the ratio decreasing to a low of 4.42 in November 2022. This decline signals a slowdown in receivables collection efficiency, potentially due to extended credit terms, collection challenges, or changes in customer creditworthiness.
Starting from the end of 2022 and into 2023, the receivables turnover ratio showed signs of recovery. A notable increase to 5.37 in May 2023 and further to 6.68 in August 2023 indicates a significant improvement in collection efficiency, possibly reflecting better credit management or favorable market conditions.
However, following this peak, the ratio experienced a slight decrease but remained relatively stable, with values around 5.35 to 5.57 through early 2024. This stability suggests a consistent receivables collection process during this period, maintaining a moderate to high level of efficiency.
Overall, the data demonstrates periods of both stability and fluctuation in receivables management. The recent upward trend culminating in August 2023 indicates an improvement in collection efficiency, which is beneficial for cash flow management. The subsequent stabilization indicates that Neogen Corporation has maintained a relatively efficient receivables collection cycle in recent periods.
Peer comparison
May 31, 2025