BioLife Solutions Inc (BLFS)
Payables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 106,674 | 189,322 | 56,292 | 24,721 | 24,373 |
| Payables | US$ in thousands | 6,940 | 15,367 | 14,945 | 3,672 | 3,119 |
| Payables turnover | 15.37 | 12.32 | 3.77 | 6.73 | 7.81 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $106,674K ÷ $6,940K
= 15.37
BioLife Solutions Inc's payables turnover ratio has fluctuated over the past five years. The payables turnover ratio indicates how efficiently the company is managing its trade payables by paying off its suppliers. A higher ratio suggests that the company is paying its suppliers more frequently.
In 2023, the payables turnover ratio improved significantly to 15.37, indicating that BioLife Solutions Inc is paying off its suppliers more frequently compared to the previous year. This could be a positive sign of good supplier relationships and effective working capital management.
In 2022, the payables turnover ratio was 12.32, showing a slight decrease from the previous year. However, the company still managed to pay off its suppliers at a relatively high rate.
In 2021, the payables turnover ratio was 3.77, which was significantly lower compared to the previous years. This could indicate that the company took longer to pay off its suppliers during that period.
In 2020 and 2019, the payables turnover ratios were 6.73 and 7.81, respectively. These ratios suggest that the company was managing its trade payables efficiently during those years, but there was a slight decrease in the turnover ratio in 2020.
Overall, fluctuations in the payables turnover ratio may reflect changes in the company's payment terms with suppliers, cash flow management practices, or other operational factors that impact its ability to pay off its trade payables in a timely manner. Further analysis of the company's financial statements and industry benchmarks could provide more insights into the effectiveness of BioLife Solutions Inc's payables management.
Peer comparison
Dec 31, 2023