Neogen Corporation (NEOG)
Debt-to-assets ratio
| Nov 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 889,867 | 889,129 | 887,653 | 886,915 | 886,177 | 885,439 | 884,701 | 923,962 | — | 0 | — | — | — | — | — | — | — | — | — | — |
| Total assets | US$ in thousands | 4,054,090 | 4,503,170 | 4,582,490 | 4,602,420 | 4,561,100 | 4,554,430 | 4,508,760 | 4,563,240 | 977,405 | 992,929 | 981,205 | 967,934 | 932,106 | 920,192 | 880,216 | 845,626 | 821,592 | 797,182 | 773,501 | 750,591 |
| Debt-to-assets ratio | 0.22 | 0.20 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.20 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
November 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $889,867K ÷ $4,054,090K
= 0.22
Neogen Corporation's debt-to-assets ratio has remained consistently low at 0.00% from November 2019 to February 2022, indicating that the company had no debt relative to its total assets during this period. However, there was a slight increase in the ratio to 0.20% by November 2022, which further rose to 0.22% by November 2024. This suggests that Neogen Corporation started using some debt financing relative to its assets, albeit still at a relatively low level. The gradual increase in the debt-to-assets ratio could indicate a strategic shift towards utilizing debt as a part of its capital structure to support its operations or growth initiatives. This trend may be worth monitoring to assess how effectively the company manages its debt levels in relation to its asset base.
Peer comparison
Nov 30, 2024