BioLife Solutions Inc (BLFS)
Days of inventory on hand (DOH)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Inventory turnover | 2.45 | 5.42 | 1.99 | 2.13 | 2.22 | |
| DOH | days | 148.69 | 67.29 | 183.79 | 171.30 | 164.31 |
December 31, 2023 calculation
DOH = 365 ÷ Inventory turnover
= 365 ÷ 2.45
= 148.69
The days of inventory on hand (DOH) for BioLife Solutions Inc have shown notable fluctuations over the past five years.
In 2023, the DOH increased significantly to 148.69 days from 67.29 days in 2022. This substantial rise indicates that the company held inventory for a longer period before it was sold or used in operations during 2023.
The DOH was relatively lower in 2022 compared to 2021, suggesting that BioLife Solutions managed its inventory more efficiently that year. However, 2021 witnessed a sharp increase in DOH to 183.79 days, indicating a prolonged inventory turnover cycle that year.
Similarly, in 2020 and 2019, the company experienced high DOH levels of 171.30 days and 164.31 days, respectively, suggesting challenges in managing its inventory effectively during those years.
Overall, the trend in BioLife Solutions' DOH over the past five years shows fluctuations, with notable spikes in 2021 and 2023. This indicates varying efficiency in managing inventory levels and turnover, which could impact the company's liquidity, working capital, and operational performance. Further analysis and investigation into the factors driving these fluctuations would be necessary to understand the underlying reasons and implications for the company's financial health.
Peer comparison
Dec 31, 2023