HIGHBuilt-inProduct / Revenue mix
71.3%
Food Safety segment
“10-K Item 1: 'Revenues from Neogen's Food Safety segment accounted for 71.3%...of our total revenues for fiscal years ended May 31, 2025'”
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 · 3 disclosed concentrations
HIGH3
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%
international (outside U.S.)
“10-K Item 1A: 'In fiscal year 2025, sales to customers outside of the U.S. accounted for 50.2% of our total revenue'”
HIGHOutside partySupplier
sole or single source supplier
“10-K Item 1A: 'Certain of our food safety product lines depend on a sole or single source supplier or vendor'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is multi-dimensional, combining a segment-level product tilt, a geographic exposure, and a supply-chain dependency. The Food Safety segment generated 71.3% of total revenues in fiscal year 2025 — a high-share structural exposure by disclosed size. The character is structural: the business has been deliberately built around food safety testing and diagnostics, so the segment dominance reflects the company's strategic focus rather than a temporary product mix shift. A prolonged contraction in food safety testing demand or a regulatory change affecting that end-market would affect the majority of the revenue base. Compounding the segment concentration, sales to customers outside of the U.S. accounted for 50.2% of total revenue in fiscal year 2025 — also a high-share structural exposure by disclosed size. The international share is diffuse across geographies rather than tied to a single country, but it still introduces currency translation risk and exposure to varying regulatory and economic conditions across multiple markets. On the supply side, certain food safety product lines depend on a sole or single source supplier or vendor — a high-share dependency by disclosed size. This is the one area where an idiosyncratic, counterparty-specific shock could compress supply availability or margins for specific product lines. Together, the profile features three high-share exposures across different dimensions: product, geography, and supply chain. No single exposure can be dismissed in isolation; the convergence of all three elevates the overall complexity of the risk profile relative to a simpler, single-axis concentration.
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 | 3 | 0 | 0 | 3 |
| ATEC | Alphatec Holdings, Inc. | 1 | 1 | 0 | 2 |
| ABT | Abbott Laboratories | 1 | 0 | 0 | 1 |
| AXGN | AxoGen, Inc. | 0 | 0 | 0 | 0 |
| BIO | Bio-Rad Laboratories, 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.