BioLife Solutions Inc (BLFS)
Receivables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 142,796 | 154,008 | 161,427 | 162,452 | 161,032 | 154,468 | 147,521 | 138,192 | 118,837 | 96,581 | 74,057 | 52,773 | 48,087 | 41,249 | 36,673 | 33,590 | 27,367 | 25,090 | 23,762 | 22,134 |
| Receivables | US$ in thousands | 18,657 | 24,556 | 26,860 | 30,343 | 33,936 | 32,436 | 31,257 | 24,271 | 23,217 | 20,232 | 21,093 | 10,669 | 8,006 | 6,095 | 4,351 | 8,205 | 5,345 | 4,313 | 3,832 | 2,927 |
| 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 |
December 31, 2023 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $142,796K ÷ $18,657K
= 7.65
The receivables turnover ratio measures how efficiently a company is able to collect cash from customers on credit sales. It is calculated by dividing net credit sales by average accounts receivable. A higher receivables turnover indicates that the company is collecting its receivables more quickly.
BioLife Solutions Inc's receivables turnover has shown fluctuations over the past few quarters. The ratio has ranged from 3.51 to 8.43 during the period from March 2019 to December 2023. Generally, a higher turnover ratio is preferred as it signifies more efficient management of receivables.
In the latest quarter, ending December 31, 2023, BioLife Solutions Inc achieved a receivables turnover ratio of 7.65, indicating that the company collected its receivables 7.65 times during the year. This suggests a significant improvement in the efficiency of receivables collection compared to previous quarters. It's essential for the company to maintain a consistent and relatively high receivables turnover ratio to ensure a healthy cash flow and efficient management of working capital.
Peer comparison
Dec 31, 2023