HIGHBuilt-inProduct / Revenue mix
71.3%
Food Safety segment
“10-K Item 1: 'Revenues from Neogen's Food Safety segment accounted for 71.3%, 70.9%, and 66.5% of our total revenues for fiscal years ended May 31, 2025, 2024 and 2023, respectively.'”
NEOG · Concentration risk · 10-K extracted
Neogen (NEOG) concentration risks
Updated
The most significant concentration Neogen discloses is Food Safety segment at 71.3%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Neogen’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH2
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-inGeographic
50.2%
sales outside the U.S.
“10-K Item 1: 'Sales to customers outside the U.S. accounted for 50.2%, 49.7%, and 48.4% of our total revenues for fiscal years ended May 31, 2025, 2024 and 2023, respectively.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-08-23Neogen's concentration profile is defined by two large, structural exposures rather than counterparty-specific risk, and both carry a high-share band. Revenue is heavily weighted toward a single business line: the Food Safety segment accounted for 71.3% of total revenues in the most recent fiscal year, up from 70.9% and 66.5% in the two years prior — a high-share, structural concentration that ties the company's fortunes closely to food-safety end-market demand. Geographic mix shows a similar pattern: sales to customers outside the U.S. represented 50.2% of total revenues, also up from 49.7% and 48.4% in the preceding two years, another high-share, structural exposure. Both trends move together — an increasingly non-U.S., food-safety-concentrated revenue base — and both are macro- and end-market-driven rather than tied to any single customer or supplier relationship, a more favorable risk character than idiosyncratic counterparty concentration would be. Still, the rising trajectory in both metrics means Neogen's results are increasingly leveraged to food-safety regulatory cycles and non-U.S. economic and currency conditions, and a slowdown in either dimension would weigh on consolidated results given how much of the business now sits in these two buckets.
For the engine’s reasoning on NEOG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Medical Devices
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AORT | Artivion, Inc. | 4 | 4 | 0 | 8 |
| NEOG● | Neogen Corporation | 2 | 0 | 0 | 2 |
| ATEC | Alphatec Holdings, Inc. | 1 | 1 | 0 | 2 |
| ABT | Abbott Laboratories | 1 | 0 | 0 | 1 |
| AHCO | AdaptHealth Corp. | 0 | 0 | 0 | 0 |
| AXGN | AxoGen, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.