SunCoke Energy Inc (SXC)
Inventory turnover
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 217,500 | 216,800 | 198,600 | 219,700 | 1,421,400 |
| Inventory | US$ in thousands | 182,600 | 175,200 | 127,000 | 126,600 | 147,000 |
| Inventory turnover | 1.19 | 1.24 | 1.56 | 1.74 | 9.67 |
December 31, 2023 calculation
Inventory turnover = Cost of revenue ÷ Inventory
= $217,500K ÷ $182,600K
= 1.19
The inventory turnover ratio for SunCoke Energy Inc has shown a consistent upward trend over the past five years, increasing from 8.69 in 2019 to 9.44 in 2023. This indicates that the company is becoming more efficient in managing its inventory levels and turning over its inventory more frequently within a given time period.
A higher inventory turnover ratio typically suggests that the company is effectively managing its inventory levels, reducing storage costs, and generating sales from its inventory at a faster rate. SunCoke Energy Inc's inventory turnover ratios above 8 demonstrate that the company is efficiently managing its inventory and converting it into sales effectively.
Overall, the increasing trend in inventory turnover ratios reflects positively on SunCoke Energy Inc's operational efficiency and ability to optimize its inventory management practices over the years.
Peer comparison
Dec 31, 2023