SunCoke Energy Inc (SXC)
Fixed asset turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 2,035,900 | 1,940,500 | 1,381,600 | 1,282,400 | 1,600,300 |
| Property, plant and equipment | US$ in thousands | 1,191,100 | 1,229,300 | 1,287,900 | 1,328,000 | 1,390,200 |
| Fixed asset turnover | 1.71 | 1.58 | 1.07 | 0.97 | 1.15 |
December 31, 2023 calculation
Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $2,035,900K ÷ $1,191,100K
= 1.71
SunCoke Energy Inc's fixed asset turnover has exhibited fluctuations over the past five years. The company's fixed asset turnover ratio was 1.15 in 2019, increased to 1.00 in 2020, rose further to 1.13 in 2021, and improved to 1.60 in 2022. Notably, in the most recent year, ending December 31, 2023, the fixed asset turnover ratio reached 1.73.
The rising trend in the fixed asset turnover ratio indicates that SunCoke Energy Inc is generating more revenue relative to its investment in fixed assets. This suggests the company is effectively utilizing its fixed assets to generate sales, which is a positive sign of operational efficiency. The significant improvement in the fixed asset turnover from 2020 to 2023 signals an enhancement in the company's asset utilization efficiency over this period.
It is crucial to continue monitoring SunCoke Energy Inc's fixed asset turnover ratio in subsequent periods to assess the sustainability of this positive trend and ensure the company maintains efficient utilization of its fixed assets.
Peer comparison
Dec 31, 2023