BioLife Solutions Inc (BLFS)

Fixed asset turnover

		Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	US$ in thousands	97,977	142,625	160,996	118,837	48,087
Property, plant and equipment	US$ in thousands	6,084	5,689	23,638	17,657	10,120
Fixed asset turnover		16.10	25.07	6.81	6.73	4.75

December 31, 2024 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $97,977K ÷ $6,084K
= 16.10

Fixed asset turnover is a financial ratio that measures a company's ability to generate revenue from its fixed assets. In the case of BioLife Solutions Inc, the trend in fixed asset turnover has been positive and increasing over the past five years.

As of December 31, 2020, the fixed asset turnover was 4.75, indicating that BioLife Solutions generated $4.75 in revenue for every dollar invested in fixed assets. This ratio increased to 6.73 by the end of 2021, and continued to grow to 6.81 by the end of 2022.

The significant jump in fixed asset turnover to 25.07 by December 31, 2023, suggests that the company has become much more efficient in utilizing its fixed assets to generate revenue. However, this ratio decreased slightly to 16.10 by the end of 2024, possibly indicating changes in the company's asset base or revenue generation.

Overall, the increasing trend in fixed asset turnover for BioLife Solutions Inc demonstrates the company's ability to efficiently utilize its fixed assets to generate sales, which can be a positive sign of operational efficiency and productivity.