BioLife Solutions Inc (BLFS)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 15.37 | 12.32 | 3.77 | 6.73 | 7.81 | |
| Number of days of payables | days | 23.75 | 29.63 | 96.90 | 54.22 | 46.71 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 15.37
= 23.75
The number of days of payables for BioLife Solutions Inc has fluctuated over the past five years. In 2023, the company took approximately 23.75 days to pay its suppliers, showing an improvement from the previous year where the number was 29.63 days. This indicates that the company is now managing its payables more efficiently.
In contrast, in 2021 the number of days of payables was significantly higher at 96.90 days, which suggests that the company was taking much longer to settle its payables during that period. The following year, in 2022, there was a notable decrease in the number of days of payables to 54.22 days, indicating an effort to better manage payables compared to the previous year.
Overall, the downward trend in the number of days of payables from 2021 to 2023 reflects an improvement in BioLife Solutions Inc's ability to manage its payment obligations to suppliers more effectively. This trend suggests that the company may have implemented strategies to optimize its cash flow by extending payment terms or negotiating better terms with suppliers.
Peer comparison
Dec 31, 2023