BioLife Solutions Inc (BLFS)

Fixed asset turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	142,796	154,008	161,427	162,452	161,032	154,468	147,521	138,192	118,837	96,581	74,057	52,773	48,087	41,249	36,673	33,590	27,367	25,090	23,762	22,134
Property, plant and equipment	US$ in thousands	21,077	20,998	25,565	26,100	23,638	21,737	19,117	18,259	17,657	17,462	16,450	11,231	10,120	5,300	5,347	5,407	5,572	2,136	1,318	1,367
Fixed asset turnover		6.77	7.33	6.31	6.22	6.81	7.11	7.72	7.57	6.73	5.53	4.50	4.70	4.75	7.78	6.86	6.21	4.91	11.75	18.03	16.19

December 31, 2023 calculation

Fixed asset turnover = Revenue (ttm) ÷ Property, plant and equipment
= $142,796K ÷ $21,077K
= 6.77

Fixed asset turnover measures how efficiently a company generates revenue from its fixed assets. A higher fixed asset turnover ratio indicates that the company is better at utilizing its fixed assets to generate sales.

Based on the data provided, BioLife Solutions Inc's fixed asset turnover fluctuated over the past several quarters. The trend shows that the company has generally maintained a relatively high fixed asset turnover ratio, ranging from 4.50 to 18.03. This indicates that BioLife Solutions has been effectively utilizing its fixed assets to generate sales revenue.

However, it is important to note that there have been fluctuations in the fixed asset turnover ratio over the quarters, suggesting that the company's efficiency in utilizing its fixed assets to generate revenue may vary. It would be worth investigating the reasons behind these fluctuations to understand the factors influencing BioLife Solutions' performance in this aspect.

Overall, the trend of BioLife Solutions Inc's fixed asset turnover ratio indicates that the company has been efficient in leveraging its fixed assets to drive revenue generation, but further analysis is recommended to understand the drivers behind the fluctuations in this ratio over time.