(TROX) Tronox Holdings - Overview
Stock: TiO2 Pigment, Zircon, Pig Iron, Monazite, Feedstock
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 7.12% |
| Yield on Cost 5y | 2.31% |
| Yield CAGR 5y | -0.70% |
| Payout Consistency | 87.8% |
| Payout Ratio | 15.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 79.1% |
| Relative Tail Risk | -11.1% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.13 |
| Alpha | -47.95 |
| Character TTM | |
|---|---|
| Beta | 2.083 |
| Beta Downside | 1.878 |
| Drawdowns 3y | |
|---|---|
| Max DD | 84.48% |
| CAGR/Max DD | -0.23 |
Description: TROX Tronox Holdings December 24, 2025
Tronox Holdings plc (NYSE:TROX) is a vertically integrated producer of titanium dioxide (TiO₂) pigment and related titanium products, with mining, beneficiation, smelting, and pigment manufacturing facilities spanning North America, South and Central America, Europe, the Middle East, Africa, and the Asia-Pacific.
The company’s product suite includes standard TiO₂ pigment, ultrafine specialty TiO₂, zircon, high-purity pig iron, monazite, feedstock chemicals, and titanium tetrachloride, which serve end-markets such as paints, coatings, plastics, paper, and a growing range of specialty applications.
In FY 2023 Tronox reported revenue of approximately $2.2 billion and adjusted EBITDA of $300 million, yielding an EBITDA margin near 13 %. Its integrated model supports an estimated 300,000 metric-ton annual TiO₂ production capacity, positioning the firm among the top five global pigment manufacturers by volume.
Key drivers of Tronox’s outlook include: (1) sustained demand growth in the paints-and-coatings sector, historically expanding at 4-5 % CAGR driven by construction and automotive activity; (2) tightening environmental regulations that favor low-VOC, high-performance pigments, boosting premium-price specialty TiO₂; and (3) a relatively constrained global TiO₂ supply chain, where mine-to-plant integration can provide a cost advantage when raw-material prices rise.
For a deeper, data-rich analysis of Tronox’s valuation metrics and scenario modeling, a quick look at ValueRay’s research hub can help you triangulate the numbers.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -324.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.06 > 0.02 and ΔFCF/TA -6.11 > 1.0 |
| NWC/Revenue: 51.37% < 20% (prev 45.46%; Δ 5.91% < -1%) |
| CFO/TA 0.00 > 3% & CFO 21.0m > Net Income -324.0m |
| Net Debt (3.22b) to EBITDA (302.7m): 10.64 < 3 |
| Current Ratio: 2.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (158.6m) vs 12m ago 0.32% < -2% |
| Gross Margin: 12.20% > 18% (prev 0.15%; Δ 1205 % > 0.5%) |
| Asset Turnover: 45.53% > 50% (prev 49.81%; Δ -4.29% > 0%) |
| Interest Coverage Ratio: 0.07 > 6 (EBITDA TTM 302.7m / Interest Expense TTM 176.0m) |
Altman Z'' 1.52
| A: 0.23 (Total Current Assets 2.31b - Total Current Liabilities 847.0m) / Total Assets 6.30b |
| B: 0.03 (Retained Earnings 213.0m / Total Assets 6.30b) |
| C: 0.00 (EBIT TTM 11.7m / Avg Total Assets 6.25b) |
| D: -0.11 (Book Value of Equity -536.0m / Total Liabilities 4.71b) |
| Altman-Z'' Score: 1.52 = BB |
Beneish M -3.10
| DSRI: 0.86 (Receivables 303.0m/382.0m, Revenue 2.84b/3.08b) |
| GMI: 1.22 (GM 12.20% / 14.92%) |
| AQI: 0.92 (AQ_t 0.19 / AQ_t-1 0.20) |
| SGI: 0.92 (Revenue 2.84b / 3.08b) |
| TATA: -0.05 (NI -324.0m - CFO 21.0m) / TA 6.30b) |
| Beneish M-Score: -3.10 (Cap -4..+1) = AA |
What is the price of TROX shares?
Over the past week, the price has changed by +14.09%, over one month by +61.61%, over three months by +137.00% and over the past year by -22.77%.
Is TROX a buy, sell or hold?
- StrongBuy: 3
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the TROX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 6.1 | -18% |
| Analysts Target Price | 6.1 | -18% |
| ValueRay Target Price | 7.1 | -5% |
TROX Fundamental Data Overview February 05, 2026
P/S = 0.388
P/B = 0.646
Revenue TTM = 2.84b USD
EBIT TTM = 11.7m USD
EBITDA TTM = 302.7m USD
Long Term Debt = 3.14b USD (from longTermDebt, last quarter)
Short Term Debt = 124.0m USD (from shortTermDebt, last quarter)
Debt = 3.41b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.22b USD (from netDebt column, last quarter)
Enterprise Value = 4.33b USD (1.10b + Debt 3.41b - CCE 185.0m)
Interest Coverage Ratio = 0.07 (Ebit TTM 11.7m / Interest Expense TTM 176.0m)
EV/FCF = -11.72x (Enterprise Value 4.33b / FCF TTM -369.0m)
FCF Yield = -8.53% (FCF TTM -369.0m / Enterprise Value 4.33b)
FCF Margin = -12.97% (FCF TTM -369.0m / Revenue TTM 2.84b)
Net Margin = -11.39% (Net Income TTM -324.0m / Revenue TTM 2.84b)
Gross Margin = 12.20% ((Revenue TTM 2.84b - Cost of Revenue TTM 2.50b) / Revenue TTM)
Gross Margin QoQ = 7.44% (prev 10.81%)
Tobins Q-Ratio = 0.69 (Enterprise Value 4.33b / Total Assets 6.30b)
Interest Expense / Debt = 1.41% (Interest Expense 48.0m / Debt 3.41b)
Taxrate = 21.0% (US default 21%)
NOPAT = 9.26m (EBIT 11.7m * (1 - 21.00%))
Current Ratio = 2.72 (Total Current Assets 2.31b / Total Current Liabilities 847.0m)
Debt / Equity = 2.18 (Debt 3.41b / totalStockholderEquity, last quarter 1.56b)
Debt / EBITDA = 10.64 (Net Debt 3.22b / EBITDA 302.7m)
Debt / FCF = -8.73 (negative FCF - burning cash) (Net Debt 3.22b / FCF TTM -369.0m)
Total Stockholder Equity = 1.66b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.19% (Net Income -324.0m / Total Assets 6.30b)
RoE = -19.51% (Net Income TTM -324.0m / Total Stockholder Equity 1.66b)
RoCE = 0.24% (EBIT 11.7m / Capital Employed (Equity 1.66b + L.T.Debt 3.14b))
RoIC = 0.20% (NOPAT 9.26m / Invested Capital 4.69b)
WACC = 4.17% (E(1.10b)/V(4.51b) * Re(13.59%) + D(3.41b)/V(4.51b) * Rd(1.41%) * (1-Tc(0.21)))
Discount Rate = 13.59% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.57%
Fair Price DCF = unknown (Cash Flow -369.0m)
EPS Correlation: -71.52 | EPS CAGR: -19.56% | SUE: 2.29 | # QB: 1
Revenue Correlation: -55.44 | Revenue CAGR: -6.07% | SUE: -2.27 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.27 | Chg30d=-0.052 | Revisions Net=-1 | Analysts=6
EPS next Year (2026-12-31): EPS=-0.57 | Chg30d=-0.121 | Revisions Net=-3 | Growth EPS=+63.9% | Growth Revenue=+3.2%