BioLife Solutions Inc (BLFS)

Activity ratios

Short-term

Turnover ratios

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
Inventory turnover 2.46 3.32 3.24 4.67 5.42 4.32 4.31 2.20 1.99 1.08 1.00 2.00 2.13 3.53 3.12 2.70 2.18 3.50 3.36 4.03
Receivables turnover 7.65 6.27 6.01 5.35 4.75 4.76 4.72 5.69 5.12 4.77 3.51 4.95 6.01 6.77 8.43 4.09 5.12 5.82 6.20 7.56
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
Working capital turnover 1.82 2.08 2.00 1.90 1.72 1.61 1.80 1.70 1.43 1.02 0.77 0.53 0.49 0.35 0.95 33.93 1.66 0.93 0.91 0.61

BioLife Solutions Inc's activity ratios show varying trends over the past five years.

The inventory turnover ratio has generally been decreasing from 2019 to 2023, indicating that the company is holding onto its inventory for a longer period before selling it. This could suggest potential inefficiencies in inventory management or a decrease in sales volume.

On the other hand, the receivables turnover ratio has been fluctuating, but overall showing an improving trend. This indicates that the company is collecting its accounts receivable faster, which is a positive sign of efficient management of credit sales and collections.

The payables turnover ratio has also been fluctuating, but with an overall decreasing trend. This may suggest that BioLife Solutions Inc is taking longer to pay its suppliers, which could potentially strain supplier relationships or be indicative of cash flow constraints.

The working capital turnover ratio has been highly volatile, with significant fluctuations throughout the years. The sharp increase in working capital turnover in March 2020 could be an anomaly or may signal a temporary operational shift. Nonetheless, the ratio indicates how efficiently the company is utilizing its working capital to generate sales.

Overall, BioLife Solutions Inc should focus on improving inventory turnover, maintaining a steady and efficient receivables turnover, closely monitoring payables turnover to ensure timely payments, and addressing the fluctuations in working capital turnover for better operational efficiency and financial performance.

Average number of days

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
Days of inventory on hand (DOH) days 148.62 109.82 112.73 78.10 67.28 84.42 84.75 165.84 183.80 337.61 364.65 182.66 171.30 103.50 116.87 135.39 167.51 104.22 108.59 90.58
Days of sales outstanding (DSO) days 47.69 58.20 60.73 68.18 76.92 76.64 77.34 64.11 71.31 76.46 103.96 73.79 60.77 53.93 43.30 89.16 71.29 62.74 58.86 48.27
Number of days of payables days 23.74 30.35 30.75 29.34 29.62 32.87 29.33 64.31 96.91 162.53 138.82 66.95 54.22 22.08 33.02 44.04 47.62 28.74 17.93 28.20

Activity ratios such as Days of Inventory on Hand (DOH), Days of Sales Outstanding (DSO), and Number of Days of Payables provide insights into how efficiently BioLife Solutions Inc manages its inventory, collects receivables, and pays its creditors, respectively.

1. Days of Inventory on Hand (DOH):
- BioLife Solutions Inc's DOH has fluctuated over the periods analyzed, ranging from 67.28 days to 337.61 days. A decreasing trend in DOH indicates that the company is managing its inventory more efficiently, while an increasing trend may suggest potential issues with inventory management or demand forecasting.

2. Days of Sales Outstanding (DSO):
- The DSO for BioLife Solutions Inc varied between 43.30 days and 103.96 days. A lower DSO signifies that the company is collecting its receivables faster, which is favorable for cash flow and working capital management. Conversely, a higher DSO could indicate issues with credit policies or collection efforts.

3. Number of Days of Payables:
- The number of days of payables for BioLife Solutions Inc ranged from 17.93 days to 162.53 days. A longer payable period indicates that the company is taking longer to pay its suppliers, potentially benefiting cash flow management. However, excessively long payable periods could strain supplier relationships and impact credit terms.

Overall, the analysis of these activity ratios indicates the efficiency of BioLife Solutions Inc in managing its inventory, collecting receivables, and paying its suppliers. Continuous monitoring and analysis of these ratios can help identify trends and areas for improvement in working capital management.

Long-term

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
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
Total asset turnover 0.35 0.37 0.37 0.36 0.36 0.32 0.31 0.25 0.21 0.17 0.14 0.22 0.20 0.21 0.32 0.35 0.29 0.30 0.46 0.46

BioLife Solutions Inc's fixed asset turnover has been relatively stable over the past few quarters, ranging from 4.50 to 7.72. This ratio indicates the company's efficiency in generating sales revenue from its investment in fixed assets. A higher fixed asset turnover ratio suggests effective asset utilization.

In contrast, the total asset turnover has shown more fluctuation, with a range of 0.14 to 0.46. This ratio reflects how well the company is utilizing all its assets to generate sales. The higher the total asset turnover, the better the company is at generating sales from its total asset base.

Overall, BioLife Solutions Inc seems to be effectively utilizing its fixed assets, as indicated by the relatively consistent fixed asset turnover ratios. However, there may be opportunities for improvement in terms of generating sales from its total asset base, as shown by the fluctuating total asset turnover ratios.