Neogen Corporation (NEOG)
Current ratio
| Aug 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 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 540,650 | 602,471 | 624,373 | 583,793 | 585,931 | 555,371 | 643,333 | 607,907 | 626,798 | 609,633 | 611,204 | 609,124 | 591,451 | 555,304 | 578,426 | 556,699 | 537,406 | 514,875 | 500,183 | 473,548 |
| Total current liabilities | US$ in thousands | 122,689 | 157,844 | 176,612 | 138,130 | 145,472 | 107,155 | 152,558 | 67,004 | 77,844 | 65,710 | 62,673 | 50,762 | 53,599 | 45,942 | 44,587 | 46,442 | 48,489 | 39,135 | 38,791 | 40,427 |
| Current ratio | 4.41 | 3.82 | 3.54 | 4.23 | 4.03 | 5.18 | 4.22 | 9.07 | 8.05 | 9.28 | 9.75 | 12.00 | 11.03 | 12.09 | 12.97 | 11.99 | 11.08 | 13.16 | 12.89 | 11.71 |
August 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $540,650K ÷ $122,689K
= 4.41
From the data provided, the current ratio of Neogen Corporation has shown some fluctuations over the past few years. The current ratio indicates the company's ability to meet its short-term obligations with its current assets.
Neogen Corporation's current ratio has been consistently above 1, which is generally considered healthy and indicates that the company has more than enough current assets to cover its current liabilities. A current ratio of 1 or above suggests that the company is capable of meeting its short-term financial obligations without major issues.
The current ratio has ranged from 3.54 to 12.97 over the past few years, with the highest ratios indicating a stronger liquidity position for the company. It is worth noting that a very high current ratio may suggest that the company is not efficiently utilizing its current assets to generate revenue or may have excess cash that could be invested elsewhere for better returns.
Overall, Neogen Corporation's current ratio trend indicates that the company has maintained a strong liquidity position, which is essential for financial stability and operational efficiency. Further analysis of other financial ratios and factors would provide a more complete picture of the company's financial health.
Peer comparison
Aug 31, 2024