SunCoke Energy Inc (SXC)

Working capital 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
Total current assets	US$ in thousands	416,800	374,000	271,900	229,700	308,300
Total current liabilities	US$ in thousands	223,800	224,000	182,200	158,900	194,800
Working capital turnover		10.55	12.94	15.40	18.11	14.10

December 31, 2023 calculation

Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $2,035,900K ÷ ($416,800K – $223,800K)
= 10.55

The working capital turnover ratio for SunCoke Energy Inc has fluctuated over the past five years, with a trend of decreasing from 2018 to 2020 and then rebounding in 2021 and 2022 before a slight decrease in 2023. The ratio indicates how efficiently the company is utilizing its working capital to generate sales revenue.

A higher working capital turnover ratio generally signifies that the company is efficiently managing its working capital to support its operations and generate sales. The decrease in the ratio from 2018 to 2020 may indicate a decline in operational efficiency or a change in the company's working capital management strategy during that period.

The rebound in the ratio in 2021 and 2022 suggests that the company may have implemented more effective working capital management practices or operational improvements to enhance its efficiency in converting working capital into sales. However, the slight decrease in 2023 could be a signal for SunCoke Energy Inc to further evaluate its working capital management strategies and operational efficiency.

Overall, the trend in the working capital turnover ratio for SunCoke Energy Inc reflects fluctuations in the company's operational efficiency and working capital management over the past five years. Further analysis and comparison with industry benchmarks could provide additional insights into the company's financial performance and efficiency.