SunCoke Energy Inc (SXC)
Payables 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 |
| Payables | US$ in thousands | 172,100 | 159,300 | 126,000 | 104,100 | 142,400 |
| Payables turnover | 1.26 | 1.36 | 1.58 | 2.11 | 9.98 |
December 31, 2023 calculation
Payables turnover = Cost of revenue ÷ Payables
= $217,500K ÷ $172,100K
= 1.26
The payables turnover ratio for SunCoke Energy Inc has shown relatively consistent performance over the past five years. The ratio measures how efficiently the company is managing its accounts payable by evaluating how many times the company pays off its suppliers in a given period.
In 2023, the payables turnover ratio was 10.02, which indicates that the company paid off its suppliers approximately 10 times during the year. This was slightly lower than the ratio of 10.07 in 2022 but still reflects a high level of efficiency in managing its payables.
Compared to 2021 and 2019, where the payables turnover ratios were 8.88 and 8.97 respectively, there has been an improvement in 2023 and 2022. This suggests that the company has become more efficient in managing its payables over the last two years.
Overall, a consistent and relatively high payables turnover ratio indicates that SunCoke Energy Inc is effectively managing its accounts payable, paying off its suppliers promptly, and potentially benefiting from favorable credit terms.
Peer comparison
Dec 31, 2023