(TROX) Tronox Holdings - Overview
Sector: Basic Materials | Industry: Chemicals | Exchange: NYSE (USA) | Market Cap: 1.268m USD | Total Return: 44.5% in 12m
Avg Turnover: 22.9M
Qual. Beats: -1
Rev. Trend: -3.9%
Qual. Beats: 0
Warnings
High Debt/EBITDA (11.4) with thin interest coverage (-0.1)
High Debt while negative Cash Flow
Interest Coverage Ratio -0.1 is critical
Beneish M-Score -1.45 > -1.5 - likely earnings manipulation
Below Avwap Earnings
Tailwinds
Rs Leader
Tronox Holdings plc (TROX) is a vertically integrated producer of titanium dioxide (TiO2) pigment and associated mineral products. The company manages the full production lifecycle, from titanium-bearing mineral sand mining and smelting to the manufacturing of specialty chemicals like zircon, high-purity pig iron, and titanium tetrachloride.
Operating within the commodity chemicals sector, Tronox utilizes a vertical integration model to hedge against raw material price volatility and ensure a stable supply of feedstock. TiO2 is a critical industrial input primarily valued for its opacity and brightness, making it an essential component in the global production of architectural coatings, plastics, and paper products.
Investors can further evaluate the companys valuation metrics and historical performance on ValueRay.
Headquartered in Stamford, Connecticut, the company maintains a global footprint with operations spanning North America, Europe, Africa, and the Asia Pacific region. This geographic diversity allows Tronox to serve various end-markets while managing logistical costs associated with heavy mineral extraction and chemical processing.
- Global demand for TiO2 pigment in paints and coatings markets
- Vertical integration of mineral sand mines buffers feedstock cost volatility
- Fluctuations in zircon and high purity pig iron byproduct pricing
- Energy cost inflation impacts smelting and beneficiation margins in Europe
- Global construction and automotive production cycles drive volume demand
| Net Income: -462.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.05 > 0.02 and ΔFCF/TA -2.78 > 1.0 |
| NWC/Revenue: 43.60% < 20% (prev 40.55%; Δ 3.05% < -1%) |
| CFO/TA 0.00 > 3% & CFO 23.0m > Net Income -462.0m |
| Net Debt (3.36b) to EBITDA (293.7m): 11.44 < 3 |
| Current Ratio: 2.42 > 1.5 & < 3 |
| Outstanding Shares: last quarter (158.9m) vs 12m ago 0.47% < -2% |
| Gross Margin: 6.42% > 18% (prev 15.47%; Δ -9.06% > 0.5%) |
| Asset Turnover: 48.08% > 50% (prev 50.06%; Δ -1.98% > 0%) |
| Interest Coverage Ratio: -0.12 > 6 (EBIT TTM -23.3m / Interest Expense TTM 200.0m) |
| A: 0.21 (Total Current Assets 2.17b - Total Current Liabilities 895.0m) / Total Assets 6.06b |
| B: -0.01 (Retained Earnings -73.0m / Total Assets 6.06b) |
| C: -0.00 (EBIT TTM -23.3m / Avg Total Assets 6.06b) |
| D: 0.27 (Book Value of Equity 1.29b / Total Liabilities 4.74b) |
| Altman-Z'' = 1.60 = BB |
| DSRI: 1.07 (Receivables 331.0m/321.0m, Revenue 2.92b/3.04b) |
| GMI: 2.41 (GM 15.47% / 6.42%) |
| AQI: 1.46 (AQ_t 0.29 / AQ_t-1 0.20) |
| SGI: 0.96 (Revenue 2.92b / 3.04b) |
| TATA: -0.08 (NI -462.0m - CFO 23.0m) / TA 6.06b) |
| Beneish M = -1.45 (Cap -4..+1) = D |
As of June 05, 2026, the stock is trading at USD 7.81 with a total of 1,697,508 shares traded.
Over the past week, the price has changed by -5.90%,
over one month by -21.45%,
over three months by +6.57% and
over the past year by +44.46%.
Tronox Holdings has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy TROX.
- StrongBuy: 3
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 7.9 | 0.9% |
P/E Forward = 21.8341
P/S = 0.4343
P/B = 0.9839
Revenue TTM = 2.92b USD
EBIT TTM = -23.3m USD
EBITDA TTM = 293.7m USD
Long Term Debt = 3.12b USD (from longTermDebt, last quarter)
Short Term Debt = 194.0m USD (from shortTermDebt, last quarter)
Debt = 3.49b USD (corrected: LT Debt 3.12b + ST Debt 194.0m) + Leases 168.0m
Net Debt = 3.36b USD (calculated: Debt 3.49b - CCE 126.0m)
Enterprise Value = 4.63b USD (1.27b + Debt 3.49b - CCE 126.0m)
Interest Coverage Ratio = -0.12 (Ebit TTM -23.3m / Interest Expense TTM 200.0m)
EV/FCF = -16.83x (Enterprise Value 4.63b / FCF TTM -275.0m)
FCF Yield = -5.94% (FCF TTM -275.0m / Enterprise Value 4.63b)
FCF Margin = -9.43% (FCF TTM -275.0m / Revenue TTM 2.92b)
Net Margin = -15.85% (Net Income TTM -462.0m / Revenue TTM 2.92b)
Gross Margin = 6.42% ((Revenue TTM 2.92b - Cost of Revenue TTM 2.73b) / Revenue TTM)
Gross Margin QoQ = 5.0% (prev 3.59%)
Tobins Q-Ratio = 0.76 (Enterprise Value 4.63b / Total Assets 6.06b)
Interest Expense / Debt = 5.74% (Interest Expense 200.0m / Debt 3.49b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -18.4m (EBIT -23.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.42 (Total Current Assets 2.17b / Total Current Liabilities 895.0m)
Debt / Equity = 2.70 (Debt 3.49b / totalStockholderEquity, last quarter 1.29b)
Debt / EBITDA = 11.44 (Net Debt 3.36b / EBITDA 293.7m)
Debt / FCF = -12.22 (negative FCF - burning cash) (Net Debt 3.36b / FCF TTM -275.0m)
Total Stockholder Equity = 1.48b (last 4 quarters mean from totalStockholderEquity)
RoA = -7.62% (Net Income -462.0m / Total Assets 6.06b)
RoE = -31.25% (Net Income TTM -462.0m / Total Stockholder Equity 1.48b)
RoCE = -0.51% (EBIT -23.3m / Capital Employed (Equity 1.48b + L.T.Debt 3.12b))
RoIC = -0.35% (negative operating profit) (NOPAT -18.4m / Invested Capital 5.23b)
WACC = 6.66% (E(1.27b)/V(4.75b) * Re(12.50%) + D(3.49b)/V(4.75b) * Rd(5.74%) * (1-Tc(0.21)))
Discount Rate = 12.50% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.44 | Cagr: 0.58%
[DCF] Fair Price = unknown (Cash Flow -275.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.38 | # QB: -1
Revenue Correlation: -3.85 | Revenue CAGR: -0.13% | SUE: 0.25 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.34 | Chg30d=-38.73% | Revisions=+0% | Analysts=8
EPS next Quarter (2026-09-30): EPS=-0.11 | Chg30d=-43.24% | Revisions=-40% | Analysts=8
EPS current Year (2026-12-31): EPS=-1.17 | Chg30d=-41.78% | Revisions=-60% | GrowthEPS=+22.2% | GrowthRev=+8.5%
EPS next Year (2027-12-31): EPS=-0.17 | Chg30d=-10.55% | Revisions=-11% | GrowthEPS=+85.3% | GrowthRev=+4.7%
[Analyst] Revisions Ratio: -60%