TROX Stock Analysis: Tronox Holdings | NYSE
Chemicals | NYSE, USA | Market Cap: 634m USD | 12M Return: 0.3% | GB00BJT16S69 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 9.67M
Qual. Beats: -6
Rev. Trend: 28.9%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 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 (NYSE: TROX) is a leading global manufacturer of titanium dioxide (TiO2) pigment, with operations spanning North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates an integrated value chain that includes titanium-bearing mineral sand mines, as well as beneficiation and smelting operations, allowing it to control production from raw mineral extraction through to finished pigment. Its product portfolio extends beyond TiO2 pigment to include ultrafine specialty TiO2, zircon, high purity pig iron, monazite, feedstock, and titanium tetrachloride.
Tronoxs products serve a wide range of end-use applications, with primary demand coming from the paints and coatings, plastics, and paper industries, alongside other industrial uses. The TiO2 pigment industry is a key segment of the broader commodity chemicals space, where TiO2 is valued for its ability to provide whiteness, opacity, and durability in finished goods. Tronox was incorporated in 2018 and is headquartered in Stamford, Connecticut, and its small-cap market position places it among the smaller publicly traded players in the materials sector.
- TiO2 pigment pricing recovers on coatings demand
- Zircon co-product revenues support segment margins
- Chinese TiO2 oversupply pressures global pigment pricing
| Net Income: -549.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA 1.30 > 1.0 |
| NWC/Revenue: 42.63% < 20% (prev 39.67%; Δ 2.95% < -1%) |
| CFO/TA 0.02 > 3% & CFO 101.0m > Net Income -549.0m |
| Net Debt (3.37b) to EBITDA (88.0m): 38.25 < 3 |
| Current Ratio: 2.55 > 1.5 & < 3 |
| Outstanding Shares: last quarter (159.8m) vs 12m ago 0.87% < -2% |
| Gross Margin: 5.34% > 18% (prev 13.77%; Δ -8.43% > 0.5%) |
| Asset Turnover: 50.30% > 50% (prev 47.67%; Δ 2.62% > 0%) |
| Interest Coverage Ratio: -1.09 > 6 (EBIT TTM -231.0m / Interest Expense TTM 211.0m) |
| A: 0.22 (Total Current Assets 2.14b - Total Current Liabilities 840.0m) / Total Assets 5.95b |
| B: -0.04 (Retained Earnings -244.0m / Total Assets 5.95b) |
| C: -0.04 (EBIT TTM -231.0m / Avg Total Assets 6.07b) |
| D: 0.24 (Book Value of Equity 1.16b / Total Liabilities 4.76b) |
| Altman-Z'' = 1.30 = BB |
| DSRI: 1.20 (Receivables 364.0m/294.0m, Revenue 3.05b/2.95b) |
| GMI: 2.58 (GM 13.77% / 5.34%) |
| AQI: 1.43 (AQ_t 0.28 / AQ_t-1 0.19) |
| SGI: 1.03 (Revenue 3.05b / 2.95b) |
| TATA: -0.11 (NI -549.0m - CFO 101.0m) / TA 5.95b) |
| Beneish M = -1.17 (Cap -4..+1) = D |
As of October 03, 2026, the stock is trading at USD 3.93 with a total of 1,306,315 shares traded. Over the past week, the price has changed by -2.48%, over one month by -23.24%, over three months by -36.23% and over the past year by +0.29%.
Current recommended Stop Loss: 3.60 (which is 8.4% or 1.4 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 | 6.8 | 71.8% |
P/E Forward = 21.8341
P/S = 0.2074
P/B = 0.6052
Revenue TTM = 3.05b USD
EBIT TTM = -231.0m USD
EBITDA TTM = 88.0m USD
Long Term Debt = 3.12b USD (from longTermDebt, last quarter)
Short Term Debt = 92.0m USD (from shortTermDebt, last quarter)
Debt = 3.56b USD (from shortLongTermDebtTotal, last quarter) + Leases 189.0m
Net Debt = 3.37b USD (calculated: Debt 3.56b - CCE 194.0m)
Enterprise Value = 4.00b USD (634.0m + Debt 3.56b - CCE 194.0m)
Interest Coverage Ratio = -1.09 (Ebit TTM -231.0m / Interest Expense TTM 211.0m)
EV/FCF = -25.16x (Enterprise Value 4.00b / FCF TTM -159.0m)
FCF Yield = -3.97% (FCF TTM -159.0m / Enterprise Value 4.00b)
FCF Margin = -5.21% (FCF TTM -159.0m / Revenue TTM 3.05b)
Net Margin = -17.99% (Net Income TTM -549.0m / Revenue TTM 3.05b)
Gross Margin = 5.34% ((Revenue TTM 3.05b - Cost of Revenue TTM 2.89b) / Revenue TTM)
Gross Margin QoQ = 6.34% (prev 5.0%)
Tobins Q-Ratio = 0.67 (Enterprise Value 4.00b / Total Assets 5.95b)
Interest Expense / Debt = 5.93% (Interest Expense 211.0m / Debt 3.56b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -182.5m (EBIT -231.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.55 (Total Current Assets 2.14b / Total Current Liabilities 840.0m)
Debt / Equity = 3.07 (Debt 3.56b / totalStockholderEquity, last quarter 1.16b)
Debt / EBITDA = 38.25 (Net Debt 3.37b / EBITDA 88.0m)
Debt / FCF = -21.17 (negative FCF - burning cash) (Net Debt 3.37b / FCF TTM -159.0m)
Total Stockholder Equity = 1.36b (last 4 quarters mean from totalStockholderEquity)
RoA = -9.05% (Net Income -549.0m / Total Assets 5.95b)
RoE = -40.45% (Net Income TTM -549.0m / Total Stockholder Equity 1.36b)
RoCE = -5.16% (EBIT -231.0m / Capital Employed (Equity 1.36b + L.T.Debt 3.12b))
RoIC = -3.61% (negative operating profit) (NOPAT -182.5m / Invested Capital 5.05b)
WACC = 5.76% (E(634.0m)/V(4.19b) * Re(11.79%) + D(3.56b)/V(4.19b) * Rd(5.93%) * (1-Tc(0.21)))
Discount Rate = 11.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 63.63 | Cagr: 0.71%
[DCF] Fair Price = unknown (Cash Flow -159.0m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.47 | # QB: -6
Revenue Correlation: 28.91 | Revenue CAGR: 1.02% | SUE: 1.06 | # QB: 1
EPS current Quarter (2026-09-30): EPS=-0.14 | Chg30d=+0.89% | Revisions=-10% | Analysts=8
EPS current Year (2026-12-31): EPS=-1.37 | Chg30d=-9.45% | Revisions=-73% | GrowthEPS=+8.7% | GrowthRev=+13.5%
EPS next Year (2027-12-31): EPS=-0.31 | Chg30d=-41.21% | Revisions=-29% | GrowthEPS=+77.4% | GrowthRev=+4.5%
[Analyst] Revisions Ratio: -50% (up=4, down=15)