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.