BioLife Solutions Inc (BLFS)
Total asset 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 |
| Total assets | US$ in thousands | 412,714 | 411,152 | 433,177 | 446,470 | 450,229 | 488,020 | 470,681 | 544,279 | 554,286 | 559,391 | 520,969 | 240,024 | 234,829 | 195,887 | 113,970 | 94,987 | 92,816 | 83,789 | 51,303 | 48,073 |
| 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 |
December 31, 2023 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $142,796K ÷ $412,714K
= 0.35
BioLife Solutions Inc's total asset turnover has shown some fluctuation over the past several quarters. The company's total asset turnover ratio ranged from a low of 0.14 to a high of 0.46 during the period under review.
The trend indicates that the company's ability to generate sales from its total assets has varied, with some quarters showing higher efficiency in asset utilization compared to others. Specifically, the company saw a significant increase in total asset turnover in the third quarter of 2020 and the fourth quarter of 2019, reaching a peak of 0.46 in both periods.
Overall, BioLife Solutions Inc's total asset turnover has averaged around 0.30 over the period, suggesting that, on average, the company generates $0.30 in sales for every $1 in total assets. It is important for the company to maintain a healthy total asset turnover ratio to ensure efficient asset utilization and maximize revenue generation.
Peer comparison
Dec 31, 2023