BioLife Solutions Inc (BLFS)
Cash ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 35,407 | 19,442 | 69,860 | 90,403 | 6,448 |
| Short-term investments | US$ in thousands | 16,288 | 44,658 | 40 | 5,872 | — |
| Total current liabilities | US$ in thousands | 42,178 | 44,582 | 42,700 | 15,573 | 7,669 |
| Cash ratio | 1.23 | 1.44 | 1.64 | 6.18 | 0.84 |
December 31, 2023 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($35,407K
+ $16,288K)
÷ $42,178K
= 1.23
The cash ratio of BioLife Solutions Inc has fluctuated over the past five years. In 2023, the cash ratio stood at 1.23, declining from 1.44 in 2022 and 1.64 in 2021. This decrease indicates a potential decrease in the company's ability to cover its short-term liabilities solely with its cash and cash equivalents.
However, when compared to the cash ratio of 6.18 in 2020 and 0.84 in 2019, the company's liquidity position has shown improvement from 2019 but a significant decline from 2020. The cash ratio is an important indicator of a company's short-term liquidity and its ability to meet immediate obligations without relying on external sources of funding. BioLife Solutions Inc should continue monitoring and managing its cash position to ensure it remains adequately liquid to meet its financial obligations.
Peer comparison
Dec 31, 2023