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.
Peer comparison
Dec 31, 2023