BioLife Solutions Inc (BLFS)
Working capital 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 current assets | US$ in thousands | 120,604 | 116,824 | 120,311 | 132,789 | 138,452 | 136,215 | 118,359 | 118,968 | 126,088 | 130,505 | 127,414 | 116,543 | 114,712 | 127,784 | 46,254 | 26,450 | 24,113 | 32,067 | 29,139 | 39,157 |
| Total current liabilities | US$ in thousands | 42,178 | 42,622 | 39,587 | 47,319 | 44,582 | 40,418 | 36,369 | 37,752 | 42,700 | 35,793 | 31,275 | 16,381 | 15,573 | 8,362 | 7,490 | 25,460 | 7,669 | 5,014 | 3,163 | 2,701 |
| Working capital turnover | 1.82 | 2.08 | 2.00 | 1.90 | 1.72 | 1.61 | 1.80 | 1.70 | 1.43 | 1.02 | 0.77 | 0.53 | 0.49 | 0.35 | 0.95 | 33.93 | 1.66 | 0.93 | 0.91 | 0.61 |
December 31, 2023 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $142,796K ÷ ($120,604K – $42,178K)
= 1.82
The working capital turnover ratio for BioLife Solutions Inc has fluctuated over the past few years, indicating the company's efficiency in utilizing its working capital to generate sales revenue. A higher working capital turnover ratio suggests that the company is effectively employing its working capital to generate sales, while a lower ratio may indicate inefficiency or potential liquidity issues.
In the most recent period, as of December 31, 2023, the working capital turnover ratio stands at 1.82, showing a slight decrease compared to the previous period. This indicates that for every dollar of working capital, BioLife Solutions Inc generated $1.82 in sales revenue during that period.
Looking at the trend over the past few years, the working capital turnover ratio has generally shown an increasing pattern, reaching its peak at 33.93 on March 31, 2020. This exceptionally high ratio may be attributed to a specific event or anomaly during that period and should be further investigated.
Overall, a consistent and increasing trend in the working capital turnover ratio reflects an improved efficiency in utilizing working capital to drive sales growth. However, significant fluctuations or a declining trend may warrant a closer examination of the company's liquidity management and operational efficiency.
Peer comparison
Dec 31, 2023