BioLife Solutions Inc (BLFS)
Liquidity ratios
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.86 | 2.74 | 3.04 | 2.81 | 3.11 | 3.37 | 3.25 | 3.15 | 2.95 | 3.65 | 4.07 | 7.11 | 7.37 | 15.28 | 6.18 | 1.04 | 3.14 | 6.40 | 9.21 | 14.50 |
| Quick ratio | 1.67 | 1.57 | 1.89 | 1.84 | 2.20 | 2.34 | 2.15 | 2.22 | 2.18 | 2.66 | 3.30 | 6.09 | 6.70 | 12.40 | 4.57 | 0.57 | 1.54 | 5.09 | 7.41 | 12.87 |
| Cash ratio | 1.23 | 0.99 | 1.22 | 1.20 | 1.44 | 1.54 | 1.29 | 1.58 | 1.64 | 2.10 | 2.63 | 5.43 | 6.18 | 11.67 | 3.99 | 0.25 | 0.84 | 4.23 | 6.20 | 11.78 |
BioLife Solutions Inc's liquidity ratios have been fluctuating over the past few quarters.
- The current ratio, which measures the company's ability to cover its short-term liabilities with its current assets, has generally been above 2, indicating that the company has a sufficient level of current assets to cover its current liabilities. However, there was a significant decrease in the current ratio from Q4 2022 to Q1 2023, which could indicate a potential liquidity concern during that period.
- The quick ratio, which is a more stringent measure of liquidity as it excludes inventory from current assets, has shown similar trends to the current ratio. The quick ratio has also been consistently above 1, suggesting that the company has an acceptable level of liquidity to meet its short-term obligations.
- The cash ratio, which is the most conservative liquidity ratio as it only considers cash and cash equivalents, has been relatively stable and mostly above 1. This indicates that the company has enough cash on hand to cover its current liabilities without relying on the sale of inventory or receivables.
Overall, BioLife Solutions Inc's liquidity position appears to be relatively healthy, with the company maintaining a strong ability to meet its short-term obligations. However, the fluctuations in liquidity ratios between quarters should be closely monitored to ensure the company's continued financial health.
Additional liquidity measure
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash conversion cycle | days | 172.58 | 137.67 | 142.72 | 116.94 | 114.58 | 128.20 | 132.76 | 165.63 | 158.20 | 251.54 | 329.79 | 189.50 | 177.85 | 135.35 | 127.15 | 180.52 | 191.18 | 138.23 | 149.52 | 110.65 |
The cash conversion cycle of BioLife Solutions Inc has fluctuated over the past few quarters. The company's cash conversion cycle is a measure of how long it takes for the company to convert its investments in inventory and other resources into cash flows from sales, and then back into cash for reinvestment.
Analyzing the data provided, we can see that the company's cash conversion cycle has been decreasing from 251.54 days in June 2021 to 172.58 days in December 2023. This indicates an improvement in the efficiency of the company's working capital management over this period.
However, there are some quarters where the cash conversion cycle increased, such as in September 2021 and March 2022, which may suggest inefficiencies in managing inventory, receivables, and payables during those periods.
Overall, BioLife Solutions Inc should continue monitoring and optimizing its cash conversion cycle to ensure effective management of its working capital and liquidity position. A shorter cash conversion cycle generally indicates that the company is able to generate cash flows more quickly, which can improve its overall financial health and resilience.