Neogen Corporation (NEOG)
Gross profit margin
| May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 405,955 | 243,013 | 215,056 | 196,279 | 191,920 |
| Revenue | US$ in thousands | 1,616,090 | 1,054,320 | 936,918 | 836,340 | 828,372 |
| Gross profit margin | 25.12% | 23.05% | 22.95% | 23.47% | 23.17% |
May 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $405,955K ÷ $1,616,090K
= 25.12%
Based on the data provided, Neogen Corp.'s gross profit margin has shown a consistent improvement over the last five years. In the most recent fiscal year ending May 31, 2023, the company achieved a gross profit margin of 49.36%, representing an increase from 46.10% in the previous year and a steady upward trend from 45.91% in 2021 and 46.94% in 2020. This indicates an effective management of production costs and pricing strategies, resulting in a higher proportion of sales revenue retained as gross profit. The company's ability to increase its gross profit margin over the years suggests efficiency in its production processes and the potential for sustained profitability.
Peer comparison
May 31, 2023