BioLife Solutions Inc (BLFS)
Payables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 106,723 | 144,095 | 126,844 | 193,158 | 189,347 | 145,904 | 143,561 | 66,469 | 56,290 | 32,105 | 25,891 | 23,311 | 24,721 | 38,922 | 34,012 | 29,193 | 23,908 | 19,941 | 17,835 | 16,360 |
| Payables | US$ in thousands | 6,940 | 11,980 | 10,686 | 15,525 | 15,367 | 13,140 | 11,537 | 11,711 | 14,945 | 14,296 | 9,847 | 4,276 | 3,672 | 2,355 | 3,077 | 3,522 | 3,119 | 1,570 | 876 | 1,264 |
| Payables turnover | 15.38 | 12.03 | 11.87 | 12.44 | 12.32 | 11.10 | 12.44 | 5.68 | 3.77 | 2.25 | 2.63 | 5.45 | 6.73 | 16.53 | 11.05 | 8.29 | 7.67 | 12.70 | 20.36 | 12.94 |
December 31, 2023 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $106,723K ÷ $6,940K
= 15.38
The payables turnover ratio for BioLife Solutions Inc has fluctuated over the past few quarters. The ratio measures how efficiently the company is managing its accounts payable by assessing how many times during a period the company pays off its suppliers.
In the latest quarter, the payables turnover ratio was relatively high at 15.38, indicating that BioLife Solutions Inc is paying off its suppliers approximately 15 times a year, which suggests strong liquidity and a good relationship with suppliers.
Looking back over the previous quarters, there is variability in the payables turnover ratio, with some quarters showing lower ratios such as in March 2021 and June 2022, and others showing higher ratios such as in June 2020 and December 2019.
It is important to consider the company's industry standards and historical performance when analyzing the payables turnover ratio. Further investigation into the reasons behind the fluctuations in the ratio could provide insights into the company's payment practices and cash management efficiency.
Peer comparison
Dec 31, 2023