BioLife Solutions Inc (BLFS)

Total asset 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
Total assets	US$ in thousands	412,714	450,229	554,286	234,829	92,816
Total asset turnover		0.35	0.36	0.21	0.20	0.29

December 31, 2023 calculation

Total asset turnover = Revenue ÷ Total assets
= $142,625K ÷ $412,714K
= 0.35

BioLife Solutions Inc's total asset turnover ratio has fluctuated over the past five years. The ratio stood at 0.35 in 2023, slightly down from 0.36 in 2022. This indicates that the company generated $0.35 in revenue for every dollar of assets it had in 2023.

Comparing these figures to the previous years, we see that the total asset turnover was relatively low in 2021 and 2020 at 0.21 and 0.20, respectively. This suggests that BioLife Solutions Inc was less efficient in generating revenue from its assets during those years.

However, in 2019, the total asset turnover improved to 0.29, showing a higher efficiency in utilizing assets to generate revenue compared to 2020 and 2021.

Overall, the trend in total asset turnover for BioLife Solutions Inc shows some variability, indicating fluctuations in the company's ability to generate revenue from its assets efficiently over the past five years.