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.