BioLife Solutions Inc (BLFS)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	18,311	23,793	6,353	655	—
Total assets	US$ in thousands	412,714	450,229	554,286	234,829	92,816
Debt-to-assets ratio		0.04	0.05	0.01	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $18,311K ÷ $412,714K
= 0.04

The debt-to-assets ratio of BioLife Solutions Inc has shown a general trend of increase over the past five years. In 2023, the ratio stands at 0.04, slightly higher than the previous year's ratio of 0.05. This indicates that the company's level of debt in relation to its total assets has decreased slightly, which may imply a healthier financial position with lower financial risk. However, it is important to note that the ratio is still relatively low, suggesting that the company relies more on equity financing rather than debt to support its operations and growth. Overall, the company appears to have a conservative approach to debt management, maintaining a stable and prudent financial structure.