Operating margins remain highly unstable, swinging from a peak of 8.0% in 2024Q3 to a negative 15.6% in 2025Q4, reflecting the firm's sensitivity to input costs and production volumes.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 |
|---|
| Sales/Revenue | 1.88B | 1.86B | 1.89B | 1.67B | 1.93B | 1.94B | 1.64B | 1.73B | 1.66B | 1.73B | 1.36B | 1.35B | 1.65B | 1.73B | 1.98B | 1.94B | 1.45B | 1.14B | 1.32B | 1.31B | 1.28B | 1.2B | 1.13B | 1.01B | 875.2M |
| Revenue Growth % | -0.99% | -1.47% | 13.24% | -13.66% | -0.47% | 18.34% | -5.33% | 4.16% | -3.88% | 26.73% | 1.15% | -18.35% | -4.65% | -12.34% | 1.7% | 34.05% | 26.94% | -13.28% | 0.5% | 2.41% | 6.91% | 6.04% | 11.94% | 15.19% | - |
| Cost of Goods Sold | 1.69B | 1.65B | 1.53B | 1.5B | 1.54B | 1.49B | 1.29B | 1.34B | 1.1B | 1.17B | 1.11B | 1.16B | 1.3B | 1.62B | 1.42B | 1.19B | 1.1B | 1.01B | 1.1B | 1.06B | 968.91M | 869.88M | 866.31M | 739.24M | 0 |
| COGS % of Revenue | - | 88.54% | 80.96% | 90.11% | 79.74% | 76.99% | 78.57% | 77.69% | 66.17% | 67.67% | 81.16% | 85.74% | 78.83% | 93.52% | 71.64% | 61.49% | 76.18% | 88.59% | 83.25% | 80.81% | 75.73% | 72.69% | 76.76% | 73.32% | - |
| Gross Profit | 189.5M | 213M | 359.3M | 164.9M | 391.1M | 446.2M | 351.2M | 386.2M | 562.2M | 558.9M | 257M | 192.3M | 349.7M | 112.2M | 560.4M | 748.4M | 345.3M | 130.3M | 220.6M | 251.4M | 310.53M | 326.85M | 262.29M | 268.94M | 875.2M |
| Gross Margin % | 10.08% | 11.46% | 19.04% | 9.89% | 20.26% | 23.01% | 21.43% | 22.31% | 33.83% | 32.32% | 18.84% | 14.26% | 21.17% | 6.48% | 28.36% | 38.51% | 23.82% | 11.41% | 16.75% | 19.19% | 24.27% | 27.31% | 23.24% | 26.68% | 100% |
| Gross Profit Growth % | - | -40.72% | 117.89% | -57.84% | -12.35% | 27.05% | -9.06% | -31.31% | 0.59% | 117.47% | 33.65% | -45.01% | 211.68% | -79.98% | -25.12% | 116.74% | 165% | -40.93% | -12.25% | -19.04% | -4.99% | 24.62% | -2.47% | -69.27% | - |
| Operating Expenses | 245M | 254.9M | 236.4M | 220.9M | 231.5M | 259.1M | 235M | 240.4M | 242.2M | 221M | 181.4M | 193.3M | 204M | 240.2M | 198.8M | 195M | 166.7M | 146M | 173.4M | 166.5M | 167.32M | 151.52M | 147.33M | 136.45M | 0 |
| OpEx % of Revenue | - | 13.71% | 12.53% | 13.26% | 11.99% | 13.36% | 14.34% | 13.89% | 14.57% | 12.78% | 13.3% | 14.33% | 12.35% | 13.87% | 10.06% | 10.03% | 11.5% | 12.78% | 13.17% | 12.71% | 13.08% | 12.66% | 13.05% | 13.53% | - |
| Selling, General & Admin | 231.2M | 229.2M | 225.6M | 211.2M | 231.3M | 248.9M | 251.8M | 258.5M | 242.8M | 221.1M | 185.3M | 191.6M | 202.4M | 239.1M | 197.3M | 195M | 166.7M | 148.2M | 167.4M | 162.1M | 163.84M | 150.73M | 148.91M | 128.59M | 0 |
| SG&A % of Revenue | - | 12.33% | 11.95% | 12.67% | 11.98% | 12.83% | 15.36% | 14.93% | 14.61% | 12.79% | 13.58% | 14.21% | 12.25% | 13.8% | 9.98% | 10.03% | 11.5% | 12.98% | 12.71% | 12.37% | 12.81% | 12.6% | 13.19% | 12.75% | - |
| Research & Development | 0 | 16M | 0 | 18M | 0 | 0 | 0 | 0 | 16M | 18M | 13M | 16M | 19M | 18M | 19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 0.86% | - | 1.08% | - | - | - | - | 0.96% | 1.04% | 0.95% | 1.19% | 1.15% | 1.04% | 0.96% | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 9.7M | 10.8M | -8.3M | 200K | 10.2M | -16.8M | -18.1M | -15M | -500K | -4.2M | 900K | 700K | 1.1M | 1.5M | 0 | 0 | -2.2M | 6M | 166.5M | 3.48M | 788K | -1.57M | 7.86M | 0 |
| Operating Income | -62.6M | -41.9M | 122.9M | -56M | 159.6M | 187.1M | 116.2M | 145.8M | 330.1M | 330.4M | 81.1M | -1.1M | 149.7M | -132.6M | 359.6M | 546.5M | 178.4M | -15.7M | 47.2M | 84.9M | 143.21M | 175.34M | 114.95M | 132.49M | 875.2M |
| Operating Margin % | -3.33% | -2.25% | 6.51% | -3.36% | 8.27% | 9.65% | 7.09% | 8.42% | 19.86% | 19.11% | 5.94% | -0.08% | 9.06% | -7.65% | 18.2% | 28.12% | 12.31% | -1.37% | 3.58% | 6.48% | 11.19% | 14.65% | 10.19% | 13.14% | 100% |
| Operating Income Growth % | - | -134.09% | 319.46% | -135.09% | -14.7% | 61.02% | -20.3% | -55.83% | -0.09% | 307.4% | 7472.73% | -100.73% | 212.9% | -136.87% | -34.2% | 206.33% | 1236.31% | -133.26% | -44.41% | -40.72% | -18.32% | 52.53% | -13.24% | -84.86% | - |
| EBITDA | -12.7M | 22.9M | 187.3M | -2.9M | 215.8M | 245M | 180.8M | 200.7M | 379.8M | 371.6M | 121.6M | 41M | 198.9M | -82.4M | 407.4M | 594M | 223.1M | 31.3M | 98.5M | 133.8M | 187.46M | 218.87M | 159.01M | 171.91M | 875.2M |
| EBITDA Margin % | -0.68% | 1.23% | 9.93% | -0.17% | 11.18% | 12.63% | 11.03% | 11.59% | 22.85% | 21.49% | 8.91% | 3.04% | 12.04% | -4.76% | 20.61% | 30.57% | 15.39% | 2.74% | 7.48% | 10.21% | 14.65% | 18.29% | 14.09% | 17.05% | 100% |
| EBITDA Growth % | -105.95% | -87.77% | 6558.62% | -101.34% | -11.92% | 35.51% | -9.92% | -47.16% | 2.21% | 205.59% | 196.59% | -79.39% | 341.38% | -120.23% | -31.41% | 166.25% | 612.78% | -68.22% | -26.38% | -28.63% | -14.35% | 37.65% | -7.51% | -80.36% | - |
| D&A (Non-Cash Add-back) | 49.9M | 64.8M | 64.4M | 53.1M | 56.2M | 57.9M | 64.6M | 54.9M | 49.7M | 41.2M | 40.5M | 42.1M | 49.2M | 50.2M | 47.8M | 47.5M | 44.7M | 47M | 51.3M | 48.9M | 44.25M | 43.54M | 44.05M | 39.42M | 0 |
| EBIT | -81.7M | -44.4M | 192.5M | -55.8M | 150.8M | 173M | 99M | 139.8M | 305.2M | 324.7M | 71.6M | -11.7M | 146.6M | -140.3M | 357.5M | 549.8M | 179.1M | -15.5M | 48.2M | 84.9M | 143.21M | 176.04M | 113.83M | 132.49M | 875.2M |
| Net Interest Income | -26.3M | -51.8M | -37.4M | -10.2M | -11.8M | -19.2M | -17.2M | -12M | -14M | -17.6M | -19.9M | -17.7M | -16M | -18.4M | -17.7M | -25.7M | -38.1M | -41.2M | -41.2M | -36.9M | -39.59M | -42.63M | -50.44M | -33.22M | 0 |
| Interest Income | 800K | 1.2M | 5.5M | 6.9M | 5.1M | 400K | 1.8M | 6.7M | 5.5M | 1.4M | 600K | 800K | 1M | 1.2M | 9M | 7M | 700K | 200K | 1M | 2.5M | 3.67M | 2.06M | 2.17M | 1.67M | 0 |
| Interest Expense | 27.1M | 53M | 42.9M | 17.1M | 16.9M | 19.6M | 19M | 18.7M | 19.5M | 19M | 20.5M | 18.5M | 17M | 19.6M | 26.7M | 32.7M | 38.8M | 41.4M | 42.2M | 39.4M | 43.26M | 44.69M | 52.61M | 34.89M | 0 |
| Other Income/Expense | -62.5M | -55.5M | 26.7M | -16.9M | -25.7M | -33.7M | -36.2M | -24.7M | -36.3M | -42.1M | -31.7M | -29.7M | -16M | -27.3M | -28.8M | -29.4M | -38.1M | -41.2M | -41.2M | -36.9M | -61.9M | -37.19M | -51.55M | -33.22M | -875.2M |
| Pretax Income | -125.1M | -97.4M | 149.6M | -72.9M | 133.9M | 153.4M | 80M | 121.1M | 293.8M | 305.7M | 61.2M | -30.8M | 133.7M | -159.9M | 330.8M | 517.1M | 140.3M | -56.9M | 6M | 48M | 81.31M | 138.14M | 64.52M | 99.28M | 0 |
| Pretax Margin % | -6.66% | -5.24% | 7.93% | -4.37% | 6.94% | 7.91% | 4.88% | 7% | 17.68% | 17.68% | 4.49% | -2.28% | 8.09% | -9.23% | 16.74% | 26.61% | 9.68% | -4.98% | 0.46% | 3.66% | 6.36% | 11.54% | 5.72% | 9.85% | - |
| Income Tax | 8.7M | 13.5M | 63.4M | -23.8M | 29.4M | 40.5M | 16.1M | 34M | 88.8M | -48.8M | 17.9M | 142.8M | 34.5M | -57.9M | 112.3M | 196.1M | 9.7M | -22.2M | -3M | 114.7M | -667K | 67.13M | -250.39M | 11.66M | -66.4M |
| Effective Tax Rate % | -6.95% | -13.86% | 42.38% | 32.65% | 21.96% | 26.4% | 20.13% | 28.08% | 30.22% | -15.96% | 29.25% | -463.64% | 25.8% | 36.21% | 33.95% | 37.92% | 6.91% | 39.02% | -50% | 238.96% | -0.82% | 48.59% | -388.1% | 11.74% | - |
| Net Income | -133.8M | -110.9M | 86.2M | -49.1M | 104.5M | 112.9M | 63.9M | 87.1M | 205M | 354.5M | 43.3M | -173.6M | 99.2M | -102M | 218.5M | 321M | 130.6M | -34.7M | 9M | -66.7M | 81.97M | 71.01M | 314.85M | 87.55M | 66.4M |
| Net Margin % | -7.12% | -5.96% | 4.57% | -2.95% | 5.41% | 5.82% | 3.9% | 5.03% | 12.34% | 20.5% | 3.17% | -12.87% | 6.01% | -5.89% | 11.06% | 16.52% | 9.01% | -3.04% | 0.68% | -5.09% | 6.41% | 5.93% | 27.9% | 8.68% | 7.59% |
| Net Income Growth % | -239.09% | -228.65% | 275.56% | -146.99% | -7.44% | 76.68% | -26.64% | -57.51% | -42.17% | 718.71% | 124.94% | -275% | 197.25% | -146.68% | -31.93% | 145.79% | 476.37% | -485.56% | 113.49% | -181.37% | 15.44% | -77.45% | 259.63% | 31.85% | - |
| Net Income (Continuing) | -133.8M | -110.9M | 86.2M | -49.1M | 104.5M | 112.9M | 63.9M | 87.1M | 205M | 354.5M | 43.3M | -173.6M | 99.2M | -102M | 218.5M | 321M | 130.6M | -34.7M | 9M | -66.7M | 81.98M | 71.45M | 314.91M | 87.55M | 66.4M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41K | 75K | 76K | 525K | 0 |
| EPS (Diluted) | -1.16 | -0.96 | 0.75 | -0.43 | 0.90 | 0.98 | 0.55 | 0.75 | 1.77 | 3.06 | 0.37 | -1.50 | 0.86 | -0.88 | 1.89 | 2.77 | 1.29 | -0.35 | 0.09 | -0.68 | 0.84 | 0.73 | 3.21 | 0.91 | 0.68 |
| EPS Growth % | -238.3% | -228% | 274.42% | -147.78% | -8.16% | 78.18% | -26.67% | -57.63% | -42.16% | 727.03% | 124.67% | -274.42% | 197.73% | -146.56% | -31.77% | 114.73% | 468.57% | -488.89% | 113.24% | -180.95% | 15.07% | -77.26% | 252.75% | 33.82% | - |
| EPS (Basic) | - | -0.96 | 0.75 | -0.43 | 0.90 | 0.98 | 0.55 | 0.75 | 1.77 | 3.06 | 0.37 | -1.50 | 0.86 | -0.88 | 1.89 | 2.77 | 1.29 | -0.35 | 0.09 | -0.68 | 0.84 | 0.73 | 3.21 | 0.91 | 0.68 |
| Diluted Shares Outstanding | 115M | 115M | 115M | 115.1M | 115.5M | 115.5M | 115.6M | 115.8M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 100.8M | 98M | 98M | 98M | 98M | 98M | 97.85M | 96.74M | 97.65M |
| Basic Shares Outstanding | 115M | 115M | 115M | 115.1M | 115.5M | 115.5M | 115.6M | 115.8M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 115.9M | 100.8M | 98M | 98M | 98M | 98M | 98M | 97.85M | 96.74M | 97.65M |
| Dividend Payout Ratio | - | - | 64.04% | - | 84.02% | 73.69% | 130.2% | 95.75% | 38.44% | 19.61% | 160.51% | - | 70.06% | - | 31.81% | 38.82% | 11.1% | - | 544.44% | - | 59.72% | 68.94% | 15.55% | 8% | - |
European energy cost volatility
As reported in recent financial filings, Kronos Worldwide's revenue growth has turned volatile, with the most recent quarterly figure showing a 4.1% increase following a period of contraction, highlighting the company's sensitivity to global industrial production cycles and fluctuating demand in the coatings and plastics end-markets.
The inconsistent top-line performance suggests that Kronos is struggling to maintain pricing power amidst a challenging macroeconomic environment. Investors should monitor whether the recent uptick in revenue represents a sustainable recovery or merely a temporary fluctuation in a broader, demand-constrained trend.
Based on the company's reported income statements, gross margins have experienced significant volatility, plummeting to a negative 0.9% in 2025Q4 before recovering to 16.3% in 2026Q1, which underscores the extreme sensitivity of the firm's high fixed-cost manufacturing base to input price spikes and volume declines.
The inability to consistently maintain double-digit gross margins suggests that Kronos lacks the pricing power necessary to fully offset rising feedstock and energy costs. This margin instability appears to be a structural vulnerability, likely exacerbated by the company's heavy reliance on European energy-intensive sulfate-process production.
According to the provided quarterly data, Kronos Worldwide has struggled to achieve positive operating leverage, with operating margins swinging from a peak of 8.0% in 2024Q3 to a negative 15.6% in 2025Q4, indicating that SG&A expenses remain disproportionately high relative to current gross profit generation.
The failure of operating income to scale with revenue suggests that the company's fixed cost structure is currently misaligned with its operational output. This lack of efficiency warrants further investigation into whether management can successfully rationalize the cost base without compromising long-term production capabilities.
As evidenced by the recent string of net losses, including a significant $82.8 million deficit in 2025Q4, the company's earnings quality appears compromised by its inability to cover fixed overheads, suggesting that the current business model may be fundamentally ill-equipped for the prevailing low-volume, high-cost environment.
Short-term observers may point to the recent return to positive operating income as a sign of a turnaround, but the underlying volatility suggests that profitability remains fragile. The reliance on parent-level support and the potential for further inventory write-downs indicate that investors should remain cautious regarding the durability of any earnings recovery.
Quick answers to the most common questions about buying KRO stock.
For fiscal year 2025, Kronos Worldwide, Inc. (KRO) reported total revenue of $1.86B. This represents a 112.5% increase compared to $875.2M in 2002.
Kronos Worldwide, Inc. (KRO) reported a net loss of $110.9M for the fiscal year ending 2025.
Kronos Worldwide, Inc. (KRO) reported an operating income of $-41.9M, resulting in an operating profit margin of -2.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Kronos Worldwide, Inc. (KRO) generated $213.0M in gross profit for the year, representing a gross profit margin of 11.5%. This demonstrates the company's core pricing power and production efficiency.