BioLife Solutions Inc (BLFS)
Solvency 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Debt-to-equity ratio | 0.05 | 0.06 | 0.07 | 0.07 | 0.07 | 0.06 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Financial leverage ratio | 1.22 | 1.24 | 1.23 | 1.25 | 1.24 | 1.20 | 1.15 | 1.14 | 1.16 | 1.14 | 1.15 | 1.15 | 1.15 | 1.05 | 1.08 | 1.40 | 2.14 | 2.38 | 24.76 | — |
BioLife Solutions Inc's solvency ratios indicate a stable and healthy financial position over the past few periods. The debt-to-assets, debt-to-capital, and debt-to-equity ratios have been consistently low, ranging from 0.01 to 0.07, suggesting that the company relies minimally on debt to finance its operations.
The financial leverage ratio has also been relatively stable, although there was a spike in the ratio at the end of 2019. This may indicate the company took on more debt relative to its equity during that period, but since then, the ratio has decreased significantly, indicating a more conservative capital structure.
Overall, the solvency ratios reflect BioLife Solutions Inc's ability to meet its financial obligations with minimal reliance on debt, which is a positive sign of financial health and sustainability.
Coverage 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | -5,447.92 | -237.12 | -195.00 | -321.66 | -234.74 | -405.42 | -244.44 | -72.79 | -81.39 | -66.58 | -85.64 | -1,195.00 | -122.00 | 1,560.25 | 8,820.50 | 12,758.00 | -638.60 | -598.67 | -2,111.17 | -2,605.83 |
The interest coverage ratio measures a company's ability to pay its interest expenses on outstanding debt. A higher ratio indicates a greater ability to meet interest obligations.
BioLife Solutions Inc's interest coverage ratio has been fluctuating significantly over the past few quarters. The most recent data for December 31, 2023, shows a concerning interest coverage ratio of -5,447.92. This indicates that the company's earnings before interest and taxes (EBIT) are insufficient to cover its interest expenses by a large margin.
In contrast, back in March 31, 2020, and December 31, 2019, the interest coverage ratios were notably positive at 12,758.00 and -638.60 respectively. These figures suggest a strong ability to cover interest expenses in March 2020, but a potential strain on covering interest costs in December 2019.
Overall, the pattern of negative interest coverage ratios in recent quarters raises red flags about the company's financial health and ability to service its debt obligations. It is crucial for BioLife Solutions Inc to improve its earnings generation or manage its debt levels to enhance its interest coverage ratio and ensure financial sustainability.