NEOG (Neogen) Inventory Turnover : 0.66 (As of May. 2024)

View and export this data going back to 1989. Start your Free Trial

What is Neogen Inventory Turnover?

Inventory Turnover measures how fast the company turns over its inventory within a year. It is calculated as Cost of Goods Sold divided by Total Inventories. Neogen's Cost of Goods Sold for the three months ended in May. 2024 was $123.3 Mil. Neogen's Average Total Inventories for the quarter that ended in May. 2024 was $185.8 Mil. Neogen's Inventory Turnover for the quarter that ended in May. 2024 was 0.66.

Days Inventory indicates the number of days of goods in sales that a company has in the inventory. Neogen's Days Inventory for the three months ended in May. 2024 was 137.51.

Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue. Neogen's Inventory-to-Revenue for the quarter that ended in May. 2024 was 0.78.

Neogen Inventory Turnover Historical Data

The historical data trend for Neogen's Inventory Turnover can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Neogen Inventory Turnover Chart

Neogen Annual Data

Trend

May15

May16

May17

May18

May19

May20

May21

May22

May23

May24

Inventory Turnover

Get a 7-Day Free Trial

2.45

2.59

2.55

3.25

2.85

Neogen Quarterly Data
	Aug19	Nov19	Feb20	May20	Aug20	Nov20	Feb21	May21	Aug21	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24
Inventory Turnover	Get a 7-Day Free Trial															0.85	0.82	0.75	0.65	0.66

Neogen Inventory Turnover Calculation

Neogen's Inventory Turnover for the fiscal year that ended in May. 2024 is calculated as

	Inventory Turnover (A: May. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (A: May. 2024 )	/ (	(Total Inventories (A: May. 2023 )	+	Total Inventories (A: May. 2024 ))	/	count )
=	460.322	/ (	(133.812	+	189.267)	/	2 )
=	460.322	/	161.5395
=	2.85

Neogen's Inventory Turnover for the quarter that ended in May. 2024 is calculated as

	Inventory Turnover (Q: May. 2024 )
=	Cost of Goods Sold	/	Average Total Inventories
=	Cost of Goods Sold (Q: May. 2024 )	/ (	(Total Inventories (Q: Feb. 2024 )	+	Total Inventories (Q: May. 2024 ))	/	count )
=	123.312	/ (	(182.39	+	189.267)	/	2 )
=	123.312	/	185.8285
=	0.66

Neogen (NAS:NEOG) Inventory Turnover Explanation

Inventory Turnover measures how fast the company turns over its inventory within a year. A higher Inventory Turnover means the company has light inventory. Therefore the company spends less money on storage, write downs, and obsolete inventory. If the inventory is too light, it may affect sales because the company may not have enough to meet demand.

1. Days Inventory indicates the number of days of goods in sales that a company has in the inventory.

Neogen's Days Inventory for the three months ended in May. 2024 is calculated as:

Days Inventory	=	Average Total Inventories (Q: May. 2024 )	/	Cost of Goods Sold (Q: May. 2024 )	*	Days in Period
	=	185.8285	/	123.312	*	365 / 4
	=	137.51

2. Inventory-to-Revenue determines the ability of a company to manage their inventory levels. It measures the percentage of Inventories the company currently has on hand to support the current amount of Revenue.

Neogen's Inventory to Revenue for the quarter that ended in May. 2024 is calculated as

Inventory-to-Revenue	=	Average Total Inventories (Q: May. 2024 )	/	Revenue (Q: May. 2024 )
	=	185.8285	/	236.794
	=	0.78

Be Aware

Usually retailers pile up their inventories at holiday seasons to meet the stronger demand. Therefore, the inventory of a particular quarter of a year should not be used to calculate Inventory Turnover. An average inventory is a better indication.

Neogen Inventory Turnover Related Terms

Thank you for viewing the detailed overview of Neogen's Inventory Turnover provided by GuruFocus.com. Please click on the following links to see related term pages.

Neogen Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Neogen Corp (NAS:NEOG) » Definitions » Inventory Turnover

Comparable Companies

Traded in Other Exchanges

NG2:Germany

Address

620 Lesher Place, Lansing, MI, USA, 48912

Website

https://www.neogen.com

Neogen Corporation, headquartered in Lansing, Michigan, develops, manufactures, and markets various products for food and animal safety. In food safety, Neogen performs diagnostics to detect unintended substances in food and animal feed, such as pathogens, allergens, and drug residues, for food and feed processing companies. In animal safety, Neogen sells veterinary instruments, pharmaceuticals, disinfectants, and genomics tests for animals, including cattle, horses, and canines. Sales in the United States account for maximum revenue, and it also has its presence in United Kingdom and other countries.

Executives

James P Tobin	director	620 LESHER PLACE, LANSING MI 48895
Douglas Edward Jones	officer: Vice President, CCO	620 LESHER PLACE, LANSING MI 48912
James C Borel	director	1007 MARKET STREET, WILMINGTON DE 19898
David H. Naemura	officer: VP & CFO	C/O GATES INDUSTRIAL CORPORATION PLC, 1144 FIFTEENTH STREET, SUITE 1400, DENVER CO 80202
John Edward Adent	officer: Chief Executive Officer	822 7TH STREET, SUITE 740, GREELEY CO 80631
William T Boehm	director
Jason Warren Lilly	officer: Vice President	620 LESHER PLACE, LANSING MI 48912
Amy M Rocklin	officer: Chief Legal & Reg. Officer	620 LESHER PLACE, LANSING MI 48912
Steven J. Quinlan	officer: VP & CFO	620 LESHER PLACE, LANSING MI 48912
Jeffrey D Capello	director	C/O NEOGEN CORP., 620 LESHER PLACE, LANSING MI 48912
Aashima Gupta	director	C/O NEOGEN CORPORATION, 620 LESHER PLACE, LANSING MI 48912
Darci L Vetter	director	620 LESHER PLACE, LANSING MI 48912
Ronald D Green	director	620 LESHER PLACE, LANSING MI 48912
Terri A Morrical	officer: General Manager
G Bruce Papesh	director	726 APPLEGATE LANE, EAST LANSING MI 48823