SunCoke Energy Inc (SXC)

Debt-to-equity ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	490,300	489,800	493,000	528,400	528,900	561,200	594,600	625,000	610,400	597,800	650,200	641,600	673,900	719,700	768,100	924,800	780,000	780,000	828,000	828,800
Total stockholders’ equity	US$ in thousands	614,200	608,300	609,000	593,500	585,600	575,500	539,100	525,000	498,100	487,700	468,400	479,500	469,000	478,900	486,400	484,200	491,600	520,600	696,500	472,100
Debt-to-equity ratio		0.80	0.81	0.81	0.89	0.90	0.98	1.10	1.19	1.23	1.23	1.39	1.34	1.44	1.50	1.58	1.91	1.59	1.50	1.19	1.76

December 31, 2023 calculation

Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $490,300K ÷ $614,200K
= 0.80

The debt-to-equity ratio of SunCoke Energy Inc has fluctuated over the past eight quarters, ranging from 0.80 to 1.20. A decreasing trend is observed from Q1 2022 to Q4 2022, followed by a slight increase in Q1 2023 and further fluctuations in subsequent quarters. The ratios indicate that the company has been relying more on debt financing compared to equity, with the ratio generally above 1, signaling higher levels of debt relative to equity in the company's capital structure. This may imply higher financial risk and leverage for the company. Monitoring this ratio over time can provide insights into the company's financial stability and capital management strategies.