Neogen Corporation develops, manufactures, and markets various products and services for food and animal safety in the United States and internationally. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and complementary products to detect dangerous and unintended substances in human food and animal feed, including foodborne pathogens, spoilage organisms, natural …
Full NEOG analysis →
Neogen Corporation ranks #23 of 62
scored companies in Diagnostics & Research by moat score — the top 37%.
The widest moat in the group is IDEXX Laboratories, Inc. (IDXX)
at 78/100.
Moat scores for companies ranked near NEOG in Diagnostics & Research
How NEOG scores on the Medical Devices & Diagnostics defenses
Pricing Power & Consumable Moat
Score 61
· 25% of the moat score
In MedTech, pricing power is rarely about the machine — it is about what the machine consumes.
R&D Pipeline & Capital Returns
Score 56
· 20% of the moat score
Research spending is how a device company keeps its installed base current, but spending alone proves nothing.
FCF Quality & Cash Conversion
Score 59
· 20% of the moat score
MedTech companies grow by acquisition, and the resulting intangible amortisation depresses reported earnings without consuming any cash.
Commercial Execution
Score 44
· 15% of the moat score
Devices are sold into hospitals and labs through committees, tenders and long qualification cycles, which makes the sales organisation expensive and hard to replicate.
Capital Structure & Resilience
Score 50
· 12% of the moat score
Serial acquirers carry debt, and the question is whether the cash flows underneath it are dependable enough to service it through a downturn.
Growth Durability
Score 47
· 8% of the moat score
Growth durability separates an expanding installed base from a good product cycle.
Neogen Corporation (NEOG) scores 54 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #23 of 62 scored companies in Diagnostics & Research, the top 37%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 61 companies in Diagnostics & Research. Its strongest defense is Pricing Power & Consumable Moat (61/100) and its weakest is Commercial Execution (44/100).
How does Neogen Corporation compare with other Diagnostics & Research companies?
Neogen Corporation ranks #23 of 62 scored companies in Diagnostics & Research by moat score. The widest moat in Diagnostics & Research is IDEXX Laboratories, Inc. (IDXX) at 78/100. The companies ranked closest are Labcorp Holdings Inc. (LH) at 56 just above it and ICON plc (ICLR) at 54 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Medical Devices & Diagnostics in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 61 companies in Diagnostics & Research. The defenses are then weighted to produce the overall score out of 100.
Why is Neogen Corporation scored with the Medical Devices & Diagnostics template?
Medical device and diagnostics companies place an instrument once and then sell the consumables, reagents and service that instrument needs for the next decade. The economics are a razor-and-blade model wrapped in regulatory approval and clinician habit, so the MedTech template scores the durability of that installed base rather than the size of any single product launch.
Which competitive defenses are measured for Neogen Corporation?
The Medical Devices & Diagnostics template measures 6 defenses, and NEOG scores: Pricing Power & Consumable Moat (61), R&D Pipeline & Capital Returns (56), FCF Quality & Cash Conversion (59), Commercial Execution (44), Capital Structure & Resilience (50), Growth Durability (47). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
We value your privacy
We use cookies to enhance your browsing experience, analyze site traffic, and personalize content. By clicking 'Accept All', you consent to our use of cookies.
Read our cookie policy
Cookie Preferences
Manage your cookie preferences. Essential cookies are always enabled.