TROX Stock Analysis: Tronox Holdings | NYSE
Chemicals | NYSE, USA | Market Cap: 991m USD | 12M Return: 17.3% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 19.8M
Qual. Beats: -5
Rev. Trend: -3.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Tronox Holdings plc (TROX) is a vertically integrated producer of titanium dioxide (TiO2) pigment, with operations spanning North America, South and Central America, Europe, the Middle East, Africa, and Asia Pacific. The companys value chain extends from titanium-bearing mineral sand mining through beneficiation, smelting, and pigment manufacturing, allowing it to control key inputs and processing stages internally. Its product portfolio includes TiO2 pigment, ultrafine specialty TiO2, zircon, high purity pig iron, monazite, feedstock, and titanium tetrachloride, which serve end markets such as paints, coatings, plastics, and paper, as well as other industrial applications. Tronox was incorporated in 2018 and is headquartered in Stamford, Connecticut.
Tronox operates within the commodity chemicals segment of the materials sector, where TiO2 is a critical white pigment used to provide opacity and brightness. Vertical integration is a defining feature of leading TiO2 producers, as it helps secure access to mineral sand feedstock (such as ilmenite and rutile) and manage cost volatility across the supply chain. Demand for TiO2 is closely tied to the health of the construction, automotive, and consumer goods industries, which drive consumption of paints, coatings, and plastics.
- TiO2 pigment prices weaken on global oversupply
- Vertical integration with mineral sands stabilizes margins
- Coatings end-market demand softens amid construction slowdown
| 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 (3.51b) to EBITDA (160.7m): 21.81 < 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: -0.78 > 6 (EBIT TTM -156.3m / 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: -0.03 (EBIT TTM -156.3m / Avg Total Assets 6.06b) |
| D: 0.27 (Book Value of Equity 1.29b / Total Liabilities 4.74b) |
| Altman-Z'' = 1.45 = BB |
| DSRI: 1.08 (Receivables 332.0m/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 July 05, 2026, the stock is trading at USD 6.21 with a total of 2,430,300 shares traded. Over the past week, the price has changed by -9.21%, over one month by -23.05%, over three months by -32.41% and over the past year by +17.34%.
Current recommended Stop Loss: 5.60 (which is 9.8% or 1.2 ATR below the current price).
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 | 26.9% |
P/E Forward = 21.8341
P/S = 0.3393
P/B = 0.797
Revenue TTM = 2.92b USD
EBIT TTM = -156.3m USD
EBITDA TTM = 160.7m USD
Long Term Debt = 3.12b USD (from longTermDebt, last quarter)
Short Term Debt = 194.0m USD (from shortTermDebt, last quarter)
Debt = 3.63b USD (from shortLongTermDebtTotal, last quarter) + Leases 168.0m
Net Debt = 3.51b USD (calculated: Debt 3.63b - CCE 126.0m)
Enterprise Value = 4.50b USD (990.6m + Debt 3.63b - CCE 126.0m)
Interest Coverage Ratio = -0.78 (Ebit TTM -156.3m / Interest Expense TTM 200.0m)
EV/FCF = -16.35x (Enterprise Value 4.50b / FCF TTM -275.0m)
FCF Yield = -6.12% (FCF TTM -275.0m / Enterprise Value 4.50b)
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 = 0.74 (Enterprise Value 4.50b / Total Assets 6.06b)
Interest Expense / Debt = 5.51% (Interest Expense 200.0m / Debt 3.63b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -123.5m (EBIT -156.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.42 (Total Current Assets 2.17b / Total Current Liabilities 895.0m)
Debt / Equity = 2.82 (Debt 3.63b / totalStockholderEquity, last quarter 1.29b)
Debt / EBITDA = 21.81 (Net Debt 3.51b / EBITDA 160.7m)
Debt / FCF = -12.75 (negative FCF - burning cash) (Net Debt 3.51b / 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 = -3.40% (EBIT -156.3m / Capital Employed (Equity 1.48b + L.T.Debt 3.12b))
RoIC = -2.36% (negative operating profit) (NOPAT -123.5m / Invested Capital 5.23b)
WACC = 6.14% (E(990.6m)/V(4.62b) * Re(12.68%) + D(3.63b)/V(4.62b) * Rd(5.51%) * (1-Tc(0.21)))
Discount Rate = 12.68% (= 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: -1.56 | # QB: -5
Revenue Correlation: -3.85 | Revenue CAGR: -0.13% | SUE: 0.25 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.34 | Chg30d=N/A | Revisions=+0% | Analysts=8
EPS next Quarter (2026-09-30): EPS=-0.12 | Chg30d=N/A | Revisions=-44% | Analysts=8
EPS current Year (2026-12-31): EPS=-1.17 | Chg30d=N/A | Revisions=-67% | GrowthEPS=+22.2% | GrowthRev=+8.7%
EPS next Year (2027-12-31): EPS=-0.17 | Chg30d=N/A | Revisions=-12% | GrowthEPS=+85.2% | GrowthRev=+4.9%
[Analyst] Revisions Ratio: -42% (up=6, down=17)