Neogen Corporation (NEOG)
Debt-to-assets ratio
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total assets | US$ in thousands | 4,548,830 | 4,554,430 | 992,929 | 920,192 | 797,182 |
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
May 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $4,548,830K
= 0.00
The debt-to-assets ratio for Neogen Corporation has consistently been 0.00 from May 31, 2020, to May 31, 2024. This indicates that the company has no debt relative to its total assets during this period. A debt-to-assets ratio of 0.00 is generally considered favorable as it suggests that the company is not relying on debt to finance its operations or growth, which may indicate financial stability and lower risk. It also signifies that the company has a strong asset base compared to its debt obligations, potentially providing a cushion in times of economic uncertainty. Overall, Neogen Corporation's consistent 0.00 debt-to-assets ratio reflects a strong financial position with minimal leverage.
Peer comparison
May 31, 2024