BioLife Solutions Inc (BLFS)
Quick ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cash | 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 | — |
| Receivables | US$ in thousands | 18,657 | 33,936 | 23,217 | 8,006 | 5,345 |
| Total current liabilities | US$ in thousands | 42,178 | 44,582 | 42,700 | 15,573 | 7,669 |
| Quick ratio | 1.67 | 2.20 | 2.18 | 6.70 | 1.54 |
December 31, 2023 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($35,407K
+ $16,288K
+ $18,657K)
÷ $42,178K
= 1.67
The quick ratio measures the ability of BioLife Solutions Inc to meet its short-term obligations with its most liquid assets. A higher quick ratio indicates stronger liquidity and a better ability to cover short-term liabilities.
Analyzing the trend over the past five years, we observe fluctuations in BioLife Solutions Inc's quick ratio. In 2023, the quick ratio decreased to 1.67 from 2.20 in 2022, which may indicate a slight decline in short-term liquidity. However, the ratio remains above 1, signifying that the company still has sufficient liquid assets to cover its short-term liabilities.
Comparing the 2023 quick ratio to historical data, it appears lower than the ratio achieved in 2022 and 2021, suggesting a potential decrease in liquidity. The significant increase in the quick ratio in 2020 to 6.70 indicates a strong ability to cover short-term obligations with liquid assets during that year. The quick ratio in 2019 was moderate at 1.54, indicating comparatively lower liquidity than in other years.
Overall, while the current quick ratio of 1.67 in 2023 is relatively lower compared to previous years, it still indicates that BioLife Solutions Inc has a sufficient level of liquid assets to meet its short-term financial obligations. However, investors and stakeholders may want to monitor this ratio in subsequent periods to assess any emerging liquidity concerns.
Peer comparison
Dec 31, 2023