BioLife Solutions Inc (BLFS)

Debt-to-capital 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 stockholders’ equity	US$ in thousands	337,663	364,188	478,047	204,429	43,321
Debt-to-capital ratio		0.05	0.06	0.01	0.00	0.00

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $18,311K ÷ ($18,311K + $337,663K)
= 0.05

The debt-to-capital ratio of BioLife Solutions Inc has exhibited an increasing trend over the past five years, from 0.00 in both 2019 and 2020 to 0.01 in 2021, further rising to 0.06 in 2022, and then slightly decreasing to 0.05 by the end of 2023. This indicates that the company's reliance on debt financing relative to its total capital has been on the rise, with a notable spike in 2022. While the decrease in 2023 suggests a slight improvement in the ratio, it still signifies a moderate level of debt utilization in financing the company's operations and investments. Investors and stakeholders may monitor this trend to assess BioLife Solutions Inc's financial leverage and risk management strategies.