SunCoke Energy
SXC on NYSE. SunCoke Energy sells coke to steelmakers and foundries. Market value $844m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
See cheaper Materials stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.41 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns 11 cents a year. Above 10 is good.
Quality score: 83 of 100. Price score: 18 of 100. Our list needs 70 on quality and 60 on price.
$10.04 a share, 82% above its 1-year low
Over the past year the price has ranged from $5.52 to $10.68.
Dividend: 4.8% a year
Paid every year for at least 5 years
Payouts have jumped around in recent years, so this may not repeat.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $29 million in the past 12 months, $42 million in the year to December 2025.
| Revenue | |||||
| Revenue | $1.5bn | $2.0bn | $2.1bn | $1.9bn | $1.8bn |
| Operating margin | |||||
| Operating margin | 9.7% | 7.8% | 6.1% | 7.8% | -2.4% |
| Debt to equity | |||||
| Debt to equity | 1.23 | 0.91 | 0.80 | 0.72 | 1.16 |
| Shares outstanding | |||||
| Shares outstanding | 0.08bn | 0.08bn | 0.08bn | 0.08bn | 0.08bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)2 of 7 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.16× equity
- Revenue growth, five yearsSlow, 6.6% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $475 million last quarter, up 9% on a year ago.
- Profit: $13 million, up 589% on a year ago.
- It loses 3 cents on each $1 of sales, after keeping 7 cents a year earlier.
- Spare cash over the past 12 months: $29 million, down from $154 million.
- About the same number of shares as a year ago.
- Debt is $616 million more than cash, up from $307 million a year ago.
- Sales grew on a year ago in 2 of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $490m |
| December 2024 | $486m |
| March 2025 | $436m |
| June 2025 | $434m |
| September 2025 | $487m |
| December 2025 | $480m |
| March 2026 | $455m |
| June 2026 | $475m |
| Quarter to | Amount |
|---|---|
| September 2024 | $31m |
| December 2024 | $24m |
| March 2025 | $17m |
| June 2025 | $2m |
| September 2025 | $22m |
| December 2025 | -$86m |
| March 2026 | -$4m |
| June 2026 | $13m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
4 long-term investors we follow own it, up from 3 last quarter. 235 funds in all.
- Royce & AssociatesChuck Royce
- Value
- $941,367
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $4m | <0.1% | Cut |
| Royce & AssociatesChuck Royce | $941,367 | <0.1% | |
| Gotham Asset ManagementJoel Greenblatt | $297,665 | <0.1% | New |
| GMOJeremy Grantham | $216,271 | <0.1% | Cut |
Largest holders overall
- BlackRock$73mAdded
- State Street$51m
- Dimensional Fund Advisors LP$43m
- American Century Companies$37mAdded
- Vanguard Capital Management$30m
- TWO Sigma Investments, LP$27mAdded
- Gendell Jeffrey L$22mAdded
- Geode Capital Management$18mAdded
- Renaissance Technologies$17m
- AQR Capital Management$16mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- STATE STREET CORPORATIONPassive investorat least 7.8%+1.4 pts(filed with 1 related holder)Since 30 June 2025
- BlackRock, Inc.Passive investor7.7%−7.7 ptsSince 31 March 2026
- Dimensional Fund Advisors LPPassive investor6.5%Since 30 June 2025
- American Century Investment Management, Inc.Passive investorat least 5.4%(filed with 3 related holders)Since 30 June 2026
- Vanguard Capital ManagementPassive investor5.2%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
STATE STREET CORPORATION Passive investor | at least 7.8%+1.4 pts (filed with 1 related holder) | 30 June 2025 | |
BlackRock, Inc. Passive investor | 7.7%−7.7 pts | 31 March 2026 | |
Dimensional Fund Advisors LP Passive investor | 6.5% | 30 June 2025 | |
American Century Investment Management, Inc. Passive investor | at least 5.4% (filed with 3 related holders) | 30 June 2026 | |
Vanguard Capital Management Passive investor | 5.2% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 4 insiders bought $288,545 of shares on the open market.
- Mikhalevsky Andrei AlexanderDirectorBought
- Date
- 26 February 2026
- Shares
- 5,000
- Price
- $5.53
- Value
- $27,650
- Marinko Mark W.SR VP, Chief Financial OfficerBought
- Date
- 25 February 2026
- Shares
- 10,000
- Price
- $5.84
- Value
- $58,396
- Hardesty Phillip MichaelSenior Vice PresidentBought
- Date
- 25 February 2026
- Shares
- 12,500
- Price
- $5.83
- Value
- $72,872
- Hardesty Phillip MichaelSenior Vice PresidentBought
- Date
- 7 November 2025
- Shares
- 12,000
- Price
- $6.64
- Value
- $79,631
- Della Ratta Ralph M JrDirectorBought
- Date
- 6 November 2025
- Shares
- 7,288
- Price
- $6.86
- Value
- $49,996
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 26 February 2026 | Mikhalevsky Andrei Alexander Director | Bought | 5,000 | $5.53 | $27,650 |
| 25 February 2026 | Marinko Mark W. SR VP, Chief Financial Officer | Bought | 10,000 | $5.84 | $58,396 |
| 25 February 2026 | Hardesty Phillip Michael Senior Vice President | Bought | 12,500 | $5.83 | $72,872 |
| 7 November 2025 | Hardesty Phillip Michael Senior Vice President | Bought | 12,000 | $6.64 | $79,631 |
| 6 November 2025 | Della Ratta Ralph M Jr Director | Bought | 7,288 | $6.86 | $49,996 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.