Neogen Corporation (NEOG)
Current ratio
| 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 | May 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total current assets | US$ in thousands | 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 | 449,529 |
| Total current liabilities | US$ in thousands | 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 | 38,251 |
| Current ratio | 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 | 11.75 |
February 29, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $602,471K ÷ $157,844K
= 3.82
Neogen Corporation's current ratio has displayed fluctuations over the past 20 quarters, ranging from a low of 3.54 to a high of 13.16. The current ratio indicates the company's ability to cover its short-term liabilities with its current assets. Generally, a current ratio above 1 is considered healthy, implying that the company has more current assets than current liabilities.
Between Nov 30, 2019, and May 31, 2020, the current ratio fluctuated between 11.75 and 13.16, reflecting a very strong financial position during this period. However, in the subsequent quarters, the current ratio decreased but remained above 4, suggesting a solid ability to meet short-term obligations. The most recent current ratio of 3.82 as of Feb 29, 2024, indicates that Neogen Corporation's current assets are 3.82 times its current liabilities, which is still considered healthy.
It is important for investors and stakeholders to monitor the company's current ratio over time to assess its liquidity and financial health. Furthermore, analyzing trends in the current ratio can provide insights into Neogen Corporation's operating efficiency, asset management, and financial risk management.
Peer comparison
Feb 29, 2024