Suncoke Energy SXC

NYSE · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · $887M

$9.70−7.18%Nov 5 close · Databento

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SXC Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $9.701D −7.18%3M +3.08%SMA20 $10.30SMA50 $10.05RSI(14) 42.4

9.70

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 42.4

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$887M

EV / True FCF37.2x

Revenue$1.8B −5.1%

True FCF (ex-SBC)$39.9M −55.9%

Rule of 40-2.8%

ROIC-1.9%

True FCF Yield4.5%

EPS, diluted$-0.52 −146.4%

Modern Valuation (EOD)

Market Cap$887M

Enterprise Value$1.5B

EV / True FCF37.19

EV / FCF35.08

EV / Gross Profit—

EV / EBIT—

EV / Sales0.81

P / E (GAAP)—

P / FCF20.97

P / Oper. CF8.13

P / Book1.42

Owner & Cash Yields

True FCF Yield4.5%

FCF Yield4.8%

Owner Earn. Yield4.5%

Earnings Yield-5.0%

Shareholder Yield+4.4%

Buyback Yield0.0%

Dividend Yield—

Dividend / sh—

Payout Ratio-94%

FCF / sh$0.50

EPS (diluted)$-0.52

Compounder & Returns

Rule of 40-2.8%

ROIC-1.9%

Cash ROIC (CROIC)3.5%

GP / Assets—

ROE-7.1%

ROA-2.5%

Gross Margin—

Oper. Margin-2.4%

Net Margin-2.4%

FCF Margin2.3%

True FCF Margin2.2%

Quality & Dilution

Cash Conversion—

Accrual Ratio−8.6%

SBC % of FCF5.7%

SBC % of Rev0.1%

Reinvest. Rate61%

Sales Growth Y/Y−5.1%

Sales 3Y CAGR−2.3%

EPS Growth Y/Y−146.4%

FCF Growth Y/Y−55.9%

FCF 3Y CAGR−31.8%

Share Change Y/Y+0.2%

Balance Sheet & Scale

Revenue (FY)$1.8B

Gross Profit (FY)—

Oper. Income (FY)$-44.4M

GAAP Net Income$-44.2M

True FCF (ex-SBC)$39.9M

Cash & Equiv$88.7M

Total Debt$685.5M

Net Cash (Debt)$-596.8M

Net Cash % MCap−67.3%

Debt / FCF (yrs)16.2y

Current Ratio2.1184.87M sh

Price & Technicals (EOD)

Perf Week−12.06%

Perf Month−1.32%

Perf Quarter+3.30%

Perf Half Y+32.51%

Perf YTD+51.56%

SMA 20 Dist−5.82%$10.30

SMA 50 Dist−3.50%$10.05

SMA 100 Dist+2.95%$9.42

Window High−14.39%$11.33

Window Low+52.28%$6.37

RSI (14) · Vol42.453%v

Income Distribution & Cash Flow ConversionHow every dollar of SXC revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$0 ($0.0 / $100)

SG&A & Other OpEx$1.9B ($102.4 / $100)

Tax & Non-Operating$0 ($0.0 / $100)

Net Profit Kept$-44.2M ($0.0 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$-44.2M (-2.4% margin)

Operating Cash Flow (OCF)$109.1M(5.9% of rev)

Less: Capital Expenditures−$66.8M(3.6% of rev)

Standard Free Cash Flow (FCF)$42.3M(2.3% margin)

Less: Stock-Based Comp (SBC)−$2.4M(5.7% of FCF)

True FCF (Owner Cash ex-SBC)$39.9M(2.2% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$1.5B	$2.0B	$2.1B	$1.9B	$1.8B	−5.1%	+6.0%
Selling, General & Admin (SG&A)	$61.8M	$71.4M	$70.7M	$61.2M	$84.8M	+38.6%	+8.2%
Operating Income (EBIT)	$141.5M	$153.7M	$125.1M	$151.9M	$-44.4M	−129.2%	—
Interest Expense	$42.5M	$32.0M	$27.3M	$28.7M	$32.9M	+14.6%	−6.2%
Income Tax Expense	$18.3M	$16.8M	$34.3M	$25.0M	$-34.0M	−236.0%	—
GAAP Net Income	$43.4M	$100.7M	$57.5M	$95.9M	$-44.2M	−146.1%	—
Diluted EPS	$0.52	$1.19	$0.68	$1.12	$-0.52	−146.4%	—
Diluted Shares	83.7M	84.6M	84.9M	85.3M	85.5M	+0.2%	+0.5%
Balance Sheet
Cash & Equivalents	$63.8M	$90.0M	$140.1M	$189.6M	$88.7M	−53.2%	+8.6%
Inventory	$127.0M	$175.2M	$182.6M	$180.8M	$219.9M	+21.6%	+14.7%
Total Current Assets	$271.9M	$374.0M	$416.8M	$474.6M	$463.0M	−2.4%	+14.2%
Total Assets	$1.6B	$1.7B	$1.7B	$1.7B	$1.8B	+7.3%	+2.6%
Total Current Liabilities	$182.2M	$224.0M	$223.8M	$205.8M	$219.5M	+6.7%	+4.8%
Total Debt (Short + Long Term)	$616.8M	$535.5M	$490.3M	$492.3M	$685.5M	+39.2%	+2.7%
Total Liabilities	$1.1B	$1.0B	$1.0B	$957.2M	$1.2B	+21.6%	+1.9%
Stockholders' Equity	$535.4M	$622.7M	$645.5M	$711.0M	$626.1M	−11.9%	+4.0%
Net Cash / (Net Debt)	$-553.0M	$-445.5M	$-350.2M	$-302.7M	$-596.8M	−97.2%	—
Invested Capital	$1.1B	$1.1B	$995.7M	$1.0B	$1.2B	+20.6%	+3.0%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$233.1M	$208.9M	$249.0M	$168.8M	$109.1M	−35.4%	−17.3%
Depreciation & Amortization (D&A)	$133.9M	$142.5M	$142.8M	$118.9M	$153.6M	+29.2%	+3.5%
Stock-Based Compensation (SBC)	$6.1M	$6.7M	$5.1M	$4.0M	$2.4M	−40.0%	−20.8%
Capital Expenditures (CapEx)	$98.6M	$75.5M	$109.2M	$72.9M	$66.8M	−8.4%	−9.3%
Free Cash Flow (FCF)	$134.5M	$133.4M	$139.8M	$95.9M	$42.3M	−55.9%	−25.1%
True FCF (ex-SBC Owner Cash)	$128.4M	$126.7M	$134.7M	$91.9M	$39.9M	−56.6%	−25.3%
Share Repurchases (Buybacks)	$0	$0	—	—	$0	—	—
Dividends Paid	$20.1M	$23.6M	$30.7M	$37.6M	$41.4M	+10.1%	+19.8%

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what SXC did at the next close after each story

No Wire story has named SXC yet.

What happened · big days

15 big days in a year, and what we hold on each

A big day is a close more than 5.02% from the one before, three times SXC’s median day (1.67%). On 4 of the 15, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±5.02%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DaySXCWhat we hold that dayGroup (median of 4) · each

1 Nov 17, 2025−5.04%
Before our storiesgroup +0.1%, did not move with it
1Nov 17, 2025−5.04%
Before our stories
+0.1% did not move with itCMC −0.3 · STLD −0.2 · CRS +0.5 · NUE +0.6
2 Dec 3, 2025+5.36%
Before our storiesgroup +2.3%, did not move with it
2Dec 3, 2025+5.36%
Before our stories
+2.3% did not move with itCMC +3.6 · STLD +2.3 · NUE +2.3 · CRS −0.4
3 Feb 17, 2026−13.89%
Resultsgroup −0.2%, did not move with it
3Feb 17, 2026−13.89%
ResultsFirst close after the Feb 17 results filing
−0.2% did not move with itCRS −1.3 · CMC −0.5 · STLD +0.1 · NUE +0.2
4 Feb 19, 2026−5.72%
Before our storiesgroup −1.2%, did not move with it
4Feb 19, 2026−5.72%
Before our stories
−1.2% did not move with itNUE −2.4 · CMC −1.3 · STLD −1.1 · CRS +3.1
5 Feb 23, 2026−5.47%
Before our storiesgroup −0.9%, did not move with it
5Feb 23, 2026−5.47%
Before our stories
−0.9% did not move with itCMC −1.5 · CRS −1.2 · NUE −0.6 · STLD +1.4
6 Mar 2, 2026+7.02%
Before our storiesgroup +2.4%, did not move with it
6Mar 2, 2026+7.02%
Before our stories
+2.4% did not move with itSTLD +4.3 · CRS +2.6 · NUE +2.1 · CMC +0.4
7 Mar 4, 2026+6.32%
Before our storiesgroup −0.7%, did not move with it
7Mar 4, 2026+6.32%
Before our stories
−0.7% did not move with itCRS +2.8 · CMC −0.5 · NUE −0.8 · STLD −1.8
8 Mar 6, 2026−5.58%
Before our storiesgroup −3.2%, moved with SXC
8Mar 6, 2026−5.58%
Before our stories
−3.2% moved with SXCCMC −4.5 · STLD −4.4 · CRS −2.0 · NUE −1.9
9 Mar 24, 2026+8.09%
Before our storiesgroup +2.5%, did not move with it
9Mar 24, 2026+8.09%
Before our stories
+2.5% did not move with itCRS +7.0 · CMC +3.1 · STLD +1.8 · NUE +1.3
10 May 26, 2026+5.60%
Before our storiesgroup +4.0%, moved with SXC
10May 26, 2026+5.60%
Before our stories
+4.0% moved with SXCCRS +4.5 · STLD +4.4 · NUE +3.6 · CMC +2.5
11 Jul 30, 2026−9.72%
Resultsgroup +0.2%, did not move with it
11Jul 30, 2026−9.72%
ResultsFirst close after the Jul 30 results filing
+0.2% did not move with itCRS −5.1 · STLD +0.1 · NUE +0.4 · CMC +0.5
12 Aug 4, 2026+5.47%
Nothing on SXCgroup +4.2%, moved with SXC
12Aug 4, 2026+5.47%
Nothing on SXCNo SXC story, brief or results filing in our record that day
+4.2% moved with SXCCRS +4.9 · NUE +4.9 · CMC +3.5 · STLD +2.6
13 Aug 5, 2026+8.46%
Nothing on SXCgroup +0.3%, did not move with it
13Aug 5, 2026+8.46%
Nothing on SXCNo SXC story, brief or results filing in our record that day
+0.3% did not move with itCMC +4.2 · STLD +0.3 · NUE +0.3 · CRS +0.1
14 Oct 27, 2026+7.95%
Resultsgroup +2.9%, did not move with it
14Oct 27, 2026+7.95%
ResultsFirst close after the Oct 27 results filing
+2.9% did not move with itNUE +5.2 · STLD +3.9 · CMC +1.9 · CRS −0.3
15 Nov 5, 2026−7.18%
Nothing on SXCgroup −7.0%, moved with SXC
15Nov 5, 2026−7.18%
Nothing on SXCNo SXC story, brief or results filing in our record that day
−7.0% moved with SXCNUE −8.3 · STLD −7.6 · CMC −6.4 · CRS −4.5

A story on the same day is not a cause, and a group move is not proof either. Group: the median of NUE, STLD, CRS and CMC that day, the largest companies in SXC’s SEC industry; “moved with SXC” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). Day 1 is the first close after each filing: the next day’s for a filing after the close, the same day’s otherwise. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Feb 17, 2026

day 1−13.89%day 6−28.04%

Reported Apr 30, 2026

day 1+1.94%day 6+9.42%

Reported Jul 30, 2026

day 1−9.72%day 6+2.56%

Reported Oct 27, 2026

day 1+7.95%day 6+9.48%

Next report: expected late January to mid FebruaryEstimated from the dates of its last four results filings. Not announced. Since the Oct 27 report: −1.12%. Four reports is a small sample.

Every report since 2023 →

Each line is SXC’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

SXC against four same-industry peers, a year at 100

SXC is up 43.3% in a year. Nucor is up 70.2% and Steel Dynamics 46.0%. Of these four, COMMERCIAL METALS (+5.9%) and Carpenter Technology (−15.0%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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SXC +43.3%. Nucor +70.2%, Steel Dynamics +46.0%, COMMERCIAL METALS +5.9%, Carpenter Technology −15.0%. Weekly closes, Nov 7, 2025 = 100, log scale.

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End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in SXC’s SEC industry (Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

NUE	Nucor	$60.8B	−8.30%
STLD	Steel Dynamics	$34.4B	−7.59%
CRS	Carpenter Technology	$14.5B	−4.53%
CMC	COMMERCIAL METALS	$7.4B	−6.38%
MTUS	Metallus	$741M	−11.81%
TWI	Titan International	$314M	−3.49%