Neogen Corporation (NEOG)
Debt-to-equity ratio
| May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 3,144,140 | 3,134,220 | 887,374 | 840,377 | 725,177 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
May 31, 2024 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $—K ÷ $3,144,140K
= 0.00
The debt-to-equity ratio for Neogen Corporation has been consistently at 0.00 from May 31, 2020, to May 31, 2024. This implies that the company has no debt or has minimal debt compared to its equity during these periods. A debt-to-equity ratio of 0.00 indicates that the company is primarily using equity financing to support its operations or has very little reliance on debt to fund its activities. This low ratio suggests a strong financial position and indicates lower financial risk for the company as it has sufficient equity to cover any outstanding debts.
Peer comparison
May 31, 2024
Company name
Symbol
Debt-to-equity ratio
Neogen Corporation
NEOG
0.00
IDEXX Laboratories Inc
IDXX
0.00
Lantheus Holdings Inc
LNTH
0.00
Myriad Genetics Inc
MYGN
0.00
Quidel Corporation
QDEL
0.00