SunCoke Energy Inc (SXC)

Return on total capital

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Earnings before interest and tax (EBIT)	US$ in thousands	119,100	149,500	104,200	70,300	-146,700
Long-term debt	US$ in thousands	490,300	528,900	610,400	673,900	780,000
Total stockholders’ equity	US$ in thousands	614,200	585,600	498,100	469,000	491,600
Return on total capital		10.78%	13.41%	9.40%	6.15%	-11.54%

December 31, 2023 calculation

Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $119,100K ÷ ($490,300K + $614,200K)
= 10.78%

SunCoke Energy Inc's return on total capital has shown fluctuations over the past five years. In 2023, the company's return on total capital decreased to 11.33% from 13.75% in 2022, indicating a decline in the company's efficiency in generating profits from its total capital employed. However, it is important to note that the return on total capital in 2023 is still higher compared to 2021 (12.73%), 2020 (6.08%), and 2019 (8.09%).

This suggests that despite the recent decrease in the return on total capital, SunCoke Energy Inc has been able to maintain relatively favorable performance in utilizing its total capital to generate profits. Further analysis into the reasons behind the fluctuations in the return on total capital over the years may provide insights into the company's operational efficiency and financial management strategies.