BioLife Solutions Inc (BLFS)
Receivables turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 142,625 | 160,996 | 118,837 | 48,087 | 27,366 |
| Receivables | US$ in thousands | 18,657 | 33,936 | 23,217 | 8,006 | 5,345 |
| Receivables turnover | 7.64 | 4.74 | 5.12 | 6.01 | 5.12 |
December 31, 2023 calculation
Receivables turnover = Revenue ÷ Receivables
= $142,625K ÷ $18,657K
= 7.64
The receivables turnover ratio for BioLife Solutions Inc has fluctuated over the past five years, ranging from a low of 4.74 in 2022 to a high of 7.64 in 2023. This ratio measures how efficiently the company collects its accounts receivable during a period. A higher turnover ratio indicates that the company is collecting its receivables more frequently, which could be a sign of good liquidity and effective credit management. However, a significant increase or decrease in the ratio from year to year should be carefully analyzed to understand the underlying reasons impacting the company's receivables management. In the case of BioLife Solutions Inc, the company showed an improved receivables turnover ratio in 2023 compared to the previous year, suggesting potential enhancements in its receivables management practices.
Peer comparison
Dec 31, 2023