SunCoke Energy, Inc. SXC
SunCoke Energy, Inc. ("SunCoke Energy," "SunCoke," "Company," "we," "our" and "us") is the largest independent producer of high-quality coke in the Americas, as measured by tons of coke produced each year, and has more than 65 years of coke production experience. Coke is produced by heating metallurgical coal in a refractory oven, which releases certain volatile components from the coal, thus transforming the coal into coke. Our coke is primarily used as a principal raw material in the blast furnace steelmaking process as well as in the foundry production of casted iron, and the majority of our sales are derived from blast furnace coke sales made under long-term, take-or-pay agreements. We also sell coke produced utilizing capacity in excess of that reserved for our long-term, take-or-pay agreements to customers in both the export and North American domestic coke markets seeking high-quality product for their blast furnaces. We have designed, developed and built, and we currently own and operate five cokemaking facilities in the United States ("U.S.") with collective nameplate capacity to produce approximately 3.7 million tons of blast furnace coke per year. Additionally, we designed and currently operate one cokemaking facility in Brazil under licensing and operating agreements on behalf of ArcelorMittal Brasil S.A. ("ArcelorMittal Brazil"), which has approximately 1.7 million tons of annual cokemaking capacity.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.84B | $1.94B | $2.06B | $1.97B | $1.46B | $1.33B | $1.60B | $1.45B | $1.33B | $1.22B |
| SG&A | $84.8M | $61.2M | $70.7M | $71.4M | $61.8M | $81.4M | $75.8M | $66.1M | $79.0M | $90.6M |
| Total operating expenses | $1.88B | $1.78B | $1.94B | $1.82B | $1.31B | $1.26B | $1.74B | $1.33B | $1.23B | $1.13B |
| Operating income | -$44.4M | $151.9M | $125.1M | $153.7M | $141.5M | $69.7M | -$144.3M | $118.7M | $104.2M | $97.9M |
| Interest expense | $32.9M | $28.7M | $30.0M | $32.7M | $42.5M | $56.3M | $60.3M | $61.4M | $60.6M | $53.5M |
| Pre-tax income | -$72.8M | $128.5M | $97.8M | $121.7M | $67.1M | $19.1M | -$203.1M | $57.0M | $21.9M | $68.1M |
| Income tax | $34.0M | $25.0M | $34.3M | $16.8M | $18.3M | $10.3M | $54.7M | $4.6M | $81.6M | $8.6M |
| Net income | -$44.2M | $95.9M | $57.5M | $100.7M | $43.4M | $3.7M | -$152.3M | $26.2M | $122.4M | $14.4M |
| EPS, basic | -0.52 | 1.13 | 0.68 | 1.20 | 0.52 | 0.04 | -1.98 | 0.40 | 1.90 | 0.22 |
| EPS, diluted | -0.52 | 1.12 | 0.68 | 1.19 | 0.52 | 0.04 | -1.98 | 0.40 | 1.88 | 0.22 |
| Shares, diluted (wtd. avg.) | $85.5M | $85.3M | $84.9M | $84.6M | $83.7M | $83.2M | $76.8M | $65.5M | $65.2M | $64.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $88.7M | $189.6M | $140.1M | $90.0M | $63.8M | $48.4M | $97.1M | $145.7M | $120.2M | $134.5M |
| Receivables | $111.5M | $96.6M | $88.3M | $104.8M | $77.6M | $46.3M | $59.5M | $75.4M | $68.5M | $60.7M |
| Inventory | $219.9M | $180.8M | $182.6M | $175.2M | $127.0M | $126.6M | $147.0M | $110.4M | $111.0M | $92.5M |
| Total current assets | $463.0M | $474.6M | $416.8M | $374.0M | $271.9M | $229.7M | $308.3M | $335.0M | $311.2M | $316.1M |
| Property, plant and equipment | — | $1.14B | $1.19B | $1.23B | $1.29B | $1.33B | $1.39B | $1.47B | $1.50B | $1.54B |
| Goodwill | $55.6M | $3.4M | — | — | — | $3.4M | $3.4M | $76.9M | $76.9M | $76.9M |
| Other intangibles | $44.0M | $25.8M | $27.7M | $29.8M | $31.8M | $33.8M | $34.7M | $156.8M | $167.9M | $179.0M |
| Total assets | $1.79B | $1.67B | $1.66B | $1.65B | $1.62B | $1.61B | $1.75B | $2.05B | $2.06B | $2.12B |
| Accounts payable | $157.3M | $153.2M | $172.1M | $159.3M | $126.0M | $104.1M | $142.4M | $115.0M | $115.5M | $98.6M |
| Short-term debt | — | — | $0 | $3.3M | $3.2M | $3.0M | $2.9M | $3.9M | $2.6M | $4.9M |
| Total current liabilities | $219.5M | $205.8M | $223.8M | $224.0M | $182.2M | $158.9M | $194.8M | $171.1M | $178.4M | $172.0M |
| Long-term debt | $685.5M | $492.3M | $490.3M | $528.9M | $610.4M | $673.9M | $780.0M | $834.5M | $861.1M | $849.2M |
| Total liabilities | $1.16B | $957.2M | $1.01B | $1.03B | $1.08B | $1.11B | $1.24B | $1.36B | $1.40B | $1.48B |
| Retained earnings | $52.3M | $138.1M | $80.2M | $53.5M | -$23.4M | -$46.6M | -$30.1M | $127.4M | $101.2M | -$22.0M |
| Total equity | $597.3M | $680.2M | $645.5M | $622.7M | $535.4M | $500.9M | $518.4M | $682.7M | $659.6M | $639.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $109.1M | $168.8M | $249.0M | $208.9M | $233.1M | $157.8M | $181.9M | $185.8M | $148.5M | $219.1M |
| Depreciation and amortisation | $153.6M | $118.9M | $142.8M | $142.5M | $133.9M | $133.7M | $143.8M | $141.6M | $128.2M | $114.2M |
| Stock-based compensation | $2.4M | $4.0M | $5.1M | $6.7M | $6.1M | $3.8M | $4.5M | $3.1M | $4.8M | $6.5M |
| Capital expenditure | $66.8M | $72.9M | $109.2M | $75.5M | $98.6M | $73.9M | $110.1M | $100.3M | $75.6M | $63.7M |
| Investing cash flow | -$339.2M | -$72.3M | -$109.2M | -$70.2M | -$99.3M | -$75.3M | -$109.8M | -$95.8M | -$55.1M | -$53.9M |
| Financing cash flow | $128.8M | -$47.0M | -$89.7M | -$112.5M | -$118.4M | -$131.2M | -$120.7M | -$64.5M | -$107.7M | -$172.3M |
| Dividends paid | $41.4M | $37.6M | $30.7M | $23.6M | $20.1M | $19.9M | $5.1M | $0 | $0 | $0 |
| Buybacks | — | — | — | $0 | $0 | $7.0M | $36.3M | $0 | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001514705-26-000010.
Others in SIC 3312
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| NUE | NUCOR CORP | $59.23B | 34.7x | 5.7% |
| STLD | STEEL DYNAMICS INC | $34.69B | 30.3x | 3.6% |
| CRS | CARPENTER TECHNOLOGY CORP | $23.56B | 45.2x | 8.6% |
| CMC | COMMERCIAL METALS Co | $7.77B | 95.0x | -1.6% |
| MTUS | Metallus Inc. | $826.1M | — | 6.9% |
| TWI | TITAN INTERNATIONAL INC | $537.6M | — | -0.9% |
| MT | ArcelorMittal | — | — | — |
| TX | Ternium S.A. | — | — | -11.6% |