Biolife Solutions Inc (NASDAQ: BLFS)

Sector: Healthcare Industry: Medical Instruments & Supplies CIK: 0000834365
Market Cap 146.76 Mn
P/B 0.41
P/E -45.78
P/S 1.98
ROIC (Qtr) -3.93
Div Yield % 0.00
Rev 1y % (Qtr) 31.21
Total Debt (Qtr) 20.68 Mn
Debt/Equity (Qtr) 0.06

About

Biolife Solutions Inc (BLFS) is a prominent player in the life sciences industry, specializing in the development, manufacturing, and marketing of bioproduction tools and services. These tools and services are specifically designed to enhance the quality and reduce risks associated with biologic manufacturing, storage, distribution, and transportation in the cell and gene therapy (CGT) industry and the broader biopharma markets. The company operates as a unified bioproduction tools and services business, supporting various stages of the biologic...

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Price action

Investment thesis

Bull case

  • Strong operating cash flow of 16.84M provides robust 0.81x coverage of total debt 20.68M, indicating excellent debt servicing capability and financial flexibility.
  • Healthy cash reserves of 29.48M provide 3.05x coverage of short-term debt 9.67M, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 172.33M provides 8.33x coverage of total debt 20.68M, indicating robust asset backing and low credit risk.
  • Short-term investments of 49.47M provide solid 3.39x coverage of other current liabilities 14.59M, indicating strong liquidity.
  • Long-term investments of 19.44M provide solid 1.77x coverage of long-term debt 11.01M, indicating strategic financial planning.

Bear case

  • Investment activities of 961000 provide weak support for R&D spending of 8.72M, which is 0.11x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 29.48M provide limited coverage of acquisition spending of 73.43M, which is 0.40x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • The company's operating cash flow of 16.84M shows concerning coverage of stock compensation expenses of 26.61M, with a 0.63 ratio indicating potential earnings quality issues.
  • Free cash flow of (184000) provides weak coverage of capital expenditures of 17.03M, with a -0.01 ratio suggesting additional external financing needs for growth initiatives.
  • Operating earnings of (5.07M) show weak coverage of depreciation charges of 7.96M, with a -0.64 ratio indicating high capital intensity and potential reinvestment needs.

Peer comparison

Companies in the Medical Instruments & Supplies
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ISRG Intuitive Surgical Inc 174.27 Bn 61.02 17.31 0.00 Bn
2 BDX Becton Dickinson & Co 59.72 Bn 37.77 3.14 19.18 Bn
3 RMD Resmed Inc 39.76 Bn 26.76 7.37 0.85 Bn
4 ALC Alcon Inc 38.93 Bn 37.18 3.82 5.24 Bn
5 WST West Pharmaceutical Services Inc 17.69 Bn 133.13 12.54 0.30 Bn
6 HOLX Hologic Inc 16.81 Bn 30.91 4.07 2.52 Bn
7 COO Cooper Companies, Inc. 16.37 Bn 43.67 4.00 2.51 Bn
8 ALGN Align Technology Inc 13.73 Bn 36.29 3.45 0.09 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.35 2.75
EV to Cash from Ops. EV/CFO 8.23 39.87
EV to Debt EV to Debt 6.71 27.09
EV to EBIT EV/EBIT -27.38 32.86
EV to EBITDA EV/EBITDA -16.11 19.31
EV to Free Cash Flow [EV/FCF] EV/FCF -753.64 0.88
EV to Market Cap EV to Market Cap 0.94 -4.26
EV to Revenue EV/Rev 1.87 252.61
Price to Book Value [P/B] P/B 0.41 6.13
Price to Earnings [P/E] P/E -45.78 184.03
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 0.00 -1.09
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 1.36
Dividend per Basic Share Div per Share (Qtr) 0.00 0.25
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 8.74
Interest Coverage Int. cover (Qtr) 2.60 -117.83
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -147.61 -53.47
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 22.02 414.02
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -1.48
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 88.83 -57.42
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -155.98 -106.89
EBIT Growth (1y) % EBIT 1y % (Qtr) 89.22 -37.00
EBT Growth (1y) % EBT 1y % (Qtr) 93.50 -42.63
EPS Growth (1y) % EPS 1y % (Qtr) 68.79 -15.05
FCF Growth (1y) % FCF 1y % (Qtr) -108.29 56.29
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 20.76 67.95
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.19 0.54
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.03
Cash Ratio Cash Ratio (Qtr) 1.09 2.51
Current Ratio Curr Ratio (Qtr) 4.66 7.80
Debt to Equity Ratio Debt/Equity (Qtr) 0.06 0.55
Interest Cover Ratio Int Coverage (Qtr) 2.60 -117.83
Times Interest Earned Times Interest Earned (Qtr) 2.60 -117.83
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 3.90 -2,368.59
EBIT Margin % EBIT Margin % (Qtr) -6.84 -2,472.59
EBT Margin % EBT Margin % (Qtr) -4.21 -2,442.52
Gross Margin % Gross Margin % (Qtr) 78.90 30.06
Net Profit Margin % Net Margin % (Qtr) -4.30 -2,438.49