Tronox Holdings plc (TROX) 10-Year Financial Performance & Capital Metrics

TROX • • Industrial / General

Basic MaterialsChemicalsPigments & Specialty MaterialsTitanium Dioxide Pigment Producers

AboutTronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; titanium tetrachloride; and other products. The company's products are used for the manufacture of paints, coatings, plastics, and paper, as well as various other applications. Tronox Holdings plc is based in Stamford, Connecticut.Show more

Revenue $3.07B +7.9%
EBITDA $504M +9.3%
Net Income -$48M +84.8%
EPS (Diluted) -0.30 +85.1%
Gross Margin 16.75% +3.3%
EBITDA Margin 16.4% +1.4%
Operating Margin 7.12% +9.2%
Net Margin -1.56% +85.9%
ROE -2.55% +82.3%
ROIC 3.54% +21.3%
Debt/Equity 1.67 +12.0%
Interest Coverage 1.31 +11.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 80 (top 20%)
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.8%
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.87%

5Y3.08%

3Y-4.88%

TTM-7.78%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-337.84%

EPS CAGR

10Y-

5Y-

3Y-

TTM-329.59%

ROCE

10Y Avg3.81%

5Y Avg6.4%

3Y Avg5.4%

Latest4.15%

Peer Comparison

Titanium Dioxide Pigment Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VHIValhi, Inc.	405.85M	14.34	3.78	9.53%	0.89%	1.31%	3.23%	0.42
TROXTronox Holdings plc	927.53M	5.85	-19.50	7.86%	-11.39%	-203.39%		1.67

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.11B	2.09B	1.7B	1.82B	2.64B	2.76B	3.57B	3.45B	2.85B	3.07B
Revenue Growth %	0.22%	-0.01%	-0.19%	0.07%	0.45%	0.04%	0.3%	-0.03%	-0.17%	0.08%
Cost of Goods Sold+	1.99B	1.85B	1.31B	1.32B	2.18B	2.14B	2.68B	2.62B	2.39B	2.56B
COGS % of Revenue	0.94%	0.88%	0.77%	0.73%	0.82%	0.77%	0.75%	0.76%	0.84%	0.83%
Gross Profit+	120M	247M	388M	498M	464M	621M	895M	832M	462M	515M
Gross Margin %	0.06%	0.12%	0.23%	0.27%	0.18%	0.23%	0.25%	0.24%	0.16%	0.17%
Gross Profit Growth %	-0.42%	1.06%	0.57%	0.28%	-0.07%	0.34%	0.44%	-0.07%	-0.44%	0.11%
Operating Expenses+	220M	186M	251M	298M	369M	350M	318M	374M	276M	296M
OpEx % of Revenue	0.1%	0.09%	0.15%	0.16%	0.14%	0.13%	0.09%	0.11%	0.1%	0.1%
Selling, General & Admin	217M	153M	251M	267M	347M	347M	318M	289M	276M	251M
SG&A % of Revenue	0.1%	0.07%	0.15%	0.15%	0.13%	0.13%	0.09%	0.08%	0.1%	0.08%
Research & Development	0	0	8M	0	0	0	13M	12M	12M	14M
R&D % of Revenue	-	-	0%	-	-	-	0%	0%	0%	0%
Other Operating Expenses	28M	24M	-9M	31M	22M	3M	-13M	73M	-12M	31M
Operating Income+	-118M	-53M	141M	200M	95M	271M	577M	458M	186M	219M
Operating Margin %	-0.06%	-0.03%	0.08%	0.11%	0.04%	0.1%	0.16%	0.13%	0.07%	0.07%
Operating Income Growth %	-8.87%	0.55%	3.66%	0.42%	-0.53%	1.85%	1.13%	-0.21%	-0.59%	0.18%
EBITDA+	135M	124M	328M	400M	375M	575M	886M	739M	461M	504M
EBITDA Margin %	0.06%	0.06%	0.19%	0.22%	0.14%	0.21%	0.25%	0.21%	0.16%	0.16%
EBITDA Growth %	-0.56%	-0.08%	1.65%	0.22%	-0.06%	0.53%	0.54%	-0.17%	-0.38%	0.09%
D&A (Non-Cash Add-back)	253M	177M	187M	200M	280M	304M	309M	281M	275M	285M
EBIT	-200M	-79M	101M	236M	105M	293M	531M	433M	198M	240M
Net Interest Income+	-169M	-182M	-178M	-160M	-183M	-181M	-150M	-116M	-140M	-157M
Interest Income	7M	3M	10M	33M	18M	8M	7M	9M	18M	10M
Interest Expense	176M	184M	188M	193M	201M	189M	157M	125M	158M	167M
Other Income/Expense	-148M	-211M	-228M	-157M	-183M	-157M	-203M	-150M	-137M	-146M
Pretax Income+	-266M	-264M	-87M	43M	-88M	114M	374M	308M	49M	73M
Pretax Margin %	-0.13%	-0.13%	-0.05%	0.02%	-0.03%	0.04%	0.1%	0.09%	0.02%	0.02%
Income Tax+	23M	-115M	6M	13M	14M	-881M	71M	-192M	363M	127M
Effective Tax Rate %	1.2%	0.23%	3.28%	-0.16%	1.24%	8.5%	0.76%	1.61%	-6.45%	-0.66%
Net Income+	-318M	-61M	-285M	-7M	-109M	969M	286M	497M	-316M	-48M
Net Margin %	-0.15%	-0.03%	-0.17%	-0%	-0.04%	0.35%	0.08%	0.14%	-0.11%	-0.02%
Net Income Growth %	0.26%	0.81%	-3.67%	0.98%	-14.57%	9.89%	-0.7%	0.74%	-1.64%	0.85%
Net Income (Continuing)	-372M	-139M	-93M	30M	-102M	995M	303M	500M	-314M	-54M
Discontinued Operations	0	79M	0	0	5M	0	0	0	0	0
Minority Interest	112M	144M	186M	179M	168M	173M	48M	46M	44M	30M
EPS (Diluted)+	-2.75	-0.50	-2.38	-0.06	-0.78	6.69	1.81	3.16	-2.02	-0.30
EPS Growth %	0.26%	0.82%	-3.76%	0.98%	-12.68%	9.58%	-0.73%	0.75%	-1.64%	0.85%
EPS (Basic)	-2.75	-0.51	-2.39	-0.06	-0.78	6.76	1.88	3.21	-2.02	-0.30
Diluted Shares Outstanding	115.57M	116.16M	119.5M	122.88M	139.86M	144.91M	157.94M	157.11M	156.4M	157.82M
Basic Shares Outstanding	115.57M	116.16M	119.1M	122.88M	139.86M	143.35M	152.06M	154.87M	156.4M	157.82M
Dividend Payout Ratio	-	-	-	-	-	0.04%	0.23%	0.18%	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.3B	2.74B	2.64B	2.54B	2.07B	2.53B	2.05B	1.96B	2.13B	2.15B
Cash & Short-Term Investments	229M	248M	1.12B	1.03B	302M	648M	228M	164M	273M	151M
Cash Only	229M	248M	1.12B	1.03B	302M	648M	228M	164M	273M	151M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	391M	289M	336M	319M	488M	561M	637M	383M	300M	268M
Days Sales Outstanding	67.57	50.4	72.23	64.01	67.42	74.24	65.09	40.47	38.42	31.82
Inventory	630M	499M	473M	479M	1.13B	1.14B	1.05B	1.28B	1.42B	1.55B
Days Inventory Outstanding	115.44	98.66	131.79	132.35	189.54	194.2	142.89	177.91	217.2	221.23
Other Current Assets	5M	1.69B	661M	662M	9M	183M	4M	135M	141M	185M
Total Non-Current Assets+	3.77B	3.7B	2.23B	2.1B	3.19B	4.04B	3.94B	4.35B	4B	3.88B
Property, Plant & Equipment	3.45B	3.44B	2B	1.8B	2.71B	2.64B	2.54B	2.67B	2.62B	2.68B
Fixed Asset Turnover	0.61x	0.61x	0.85x	1.01x	0.97x	1.04x	1.41x	1.30x	1.09x	1.15x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	244M	223M	198M	176M	208M	201M	217M	250M	243M	244M
Long-Term Investments	12M	13M	13M	12M	0	0	0	0	0	0
Other Non-Current Assets	-158M	-188M	13M	73M	162M	175M	194M	196M	218M	126M
Total Assets+	5.07B	4.95B	4.86B	4.64B	5.27B	6.57B	5.99B	6.31B	6.13B	6.04B
Asset Turnover	0.42x	0.42x	0.35x	0.39x	0.50x	0.42x	0.60x	0.55x	0.46x	0.51x
Asset Growth %	0%	-0.02%	-0.02%	-0.05%	0.13%	0.25%	-0.09%	0.05%	-0.03%	-0.02%
Total Current Liabilities+	548M	564M	353M	300M	702M	805M	822M	850M	753M	874M
Accounts Payable	159M	136M	165M	133M	342M	356M	438M	415M	461M	499M
Days Payables Outstanding	29.13	26.89	45.97	36.75	57.31	60.8	59.72	57.77	70.46	71.17
Short-Term Debt	166M	166M	22M	22M	38M	97M	18M	74M	38M	100M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	69M	172M	76M	71M	145M	217M	190M	188M	125M	121M
Current Ratio	2.37x	4.85x	7.48x	8.48x	2.95x	3.14x	2.49x	2.31x	2.84x	2.47x
Quick Ratio	1.22x	3.97x	6.14x	6.88x	1.34x	1.73x	1.22x	0.80x	0.95x	0.69x
Cash Conversion Cycle	153.88	122.17	158.04	159.61	199.64	207.64	148.26	160.61	185.15	181.87
Total Non-Current Liabilities+	3.37B	3.27B	3.5B	3.48B	3.65B	3.89B	3.12B	3.05B	3.4B	3.37B
Long-Term Debt	2.91B	2.89B	3.13B	3.14B	2.99B	3.25B	2.56B	2.43B	2.79B	2.76B
Capital Lease Obligations	0	0	19M	15M	62M	53M	55M	147M	103M	107M
Deferred Tax Liabilities	143M	152M	171M	163M	184M	176M	157M	153M	149M	174M
Other Non-Current Liabilities	316M	208M	200M	178M	416M	412M	353M	326M	363M	333M
Total Liabilities	3.96B	3.79B	3.85B	3.78B	4.35B	4.7B	3.94B	3.9B	4.15B	4.25B
Total Debt+	3.12B	3.05B	3.15B	3.16B	3.13B	3.4B	2.66B	2.67B	2.95B	2.99B
Net Debt	2.89B	2.81B	2.03B	2.13B	2.82B	2.75B	2.43B	2.5B	2.68B	2.84B
Debt / Equity	2.81x	2.63x	3.10x	3.67x	3.41x	1.82x	1.30x	1.11x	1.49x	1.67x
Debt / EBITDA	23.12x	24.63x	9.59x	7.90x	8.34x	5.91x	3.00x	3.61x	6.40x	5.93x
Net Debt / EBITDA	21.42x	22.63x	6.19x	5.32x	7.53x	4.79x	2.74x	3.39x	5.81x	5.63x
Interest Coverage	-0.67x	-0.29x	0.75x	1.04x	0.47x	1.43x	3.68x	3.66x	1.18x	1.31x
Total Equity+	1.11B	1.16B	1.01B	862M	916M	1.87B	2.04B	2.4B	1.98B	1.79B
Equity Growth %	-0.38%	0.05%	-0.13%	-0.15%	0.06%	1.04%	0.09%	0.18%	-0.18%	-0.1%
Book Value per Share	9.60	9.99	8.49	7.01	6.55	12.91	12.93	15.30	12.66	11.35
Total Shareholders' Equity	998M	1.02B	829M	683M	748M	1.7B	1.99B	2.36B	1.94B	1.76B
Common Stock	1M	1M	1M	1M	1M	1M	2M	2M	2M	2M
Retained Earnings	93M	-13M	-327M	-357M	-493M	434M	663M	1.08B	684M	555M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-596M	-495M	-403M	-540M	-606M	-610M	-738M	-768M	-814M	-880M
Minority Interest	112M	144M	186M	179M	168M	173M	48M	46M	44M	30M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	216M	211M	273M	170M	441M	355M	740M	598M	184M	300M
Operating CF Margin %	0.1%	0.1%	0.16%	0.09%	0.17%	0.13%	0.21%	0.17%	0.06%	0.1%
Operating CF Growth %	0.53%	-0.02%	0.29%	-0.38%	1.59%	-0.2%	1.08%	-0.19%	-0.69%	0.63%
Net Income	-307M	-58M	-93M	30M	-102M	995M	286M	500M	-316M	-48M
Depreciation & Amortization	294M	294K	182K	195M	312M	306M	309M	240M	245M	254M
Stock-Based Compensation	22M	25M	31M	21M	32M	30M	0	26M	21M	21M
Deferred Taxes	14M	-116M	2M	-21M	-9M	-899M	15M	-261M	330M	110M
Other Non-Cash Items	-6M	280.71M	311.82M	63M	150M	75M	148M	108M	78M	66M
Working Capital Changes	199M	79M	21M	-118M	58M	-152M	-18M	-15M	-174M	-103M
Change in Receivables	20M	-27M	-50M	-11M	78M	-49M	-108M	233M	84M	11M
Change in Inventory	157M	111M	60M	-47M	-59M	-21M	53M	-255M	-151M	-115M
Change in Payables	-12M	8M	1M	-51M	67M	-12M	53M	-5M	-84M	-11M
Cash from Investing+	-1.84B	-117M	558M	-174M	-1.19B	-229M	-269M	-415M	-255M	-343M
Capital Expenditures	-191M	-119M	-91M	-117M	-198M	-195M	-272M	-428M	-261M	-370M
CapEx % of Revenue	0.09%	0.06%	0.05%	0.06%	0.07%	0.07%	0.08%	0.12%	0.09%	0.12%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1M	3.65M	-676M	-63M	-14M	-35M	1M	13M	6M	27M
Cash from Financing+	603M	-77M	24M	-46M	-638M	214M	-877M	-250M	176M	-71M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-117M	-46M	-23M	-23M	-27M	-40M	-65M	-87M	-89M	-80M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-12M	-1M	-38M	-26M	-158M	-10M	-43M	-22M	-3M	-16M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	25M	92M	182M	53M	243M	160M	468M	170M	-77M	-70M
FCF Margin %	0.01%	0.04%	0.11%	0.03%	0.09%	0.06%	0.13%	0.05%	-0.03%	-0.02%
FCF Growth %	1.54%	2.68%	0.98%	-0.71%	3.58%	-0.34%	1.93%	-0.64%	-1.45%	0.09%
FCF per Share	0.22	0.79	1.52	0.43	1.74	1.10	2.96	1.08	-0.49	-0.44
FCF Conversion (FCF/Net Income)	-0.68x	-3.46x	-0.96x	-24.29x	-4.05x	0.37x	2.59x	1.20x	-0.58x	-6.25x
Interest Paid	152M	171M	186M	84M	188M	0	0	114M	143M	151M
Taxes Paid	23M	2M	10M	28M	34M	17M	0	60M	54M	10M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-21.95%	-5.37%	-26.19%	-0.75%	-12.26%	69.54%	14.62%	22.36%	-14.42%	-2.55%
Return on Invested Capital (ROIC)	-2.56%	-1%	3.02%	4.97%	2.12%	4.86%	9.52%	7.33%	2.92%	3.54%
Gross Margin	5.68%	11.8%	22.85%	27.38%	17.56%	22.52%	25.06%	24.09%	16.21%	16.75%
Net Margin	-15.06%	-2.91%	-16.78%	-0.38%	-4.13%	35.13%	8.01%	14.39%	-11.09%	-1.56%
Debt / Equity	2.81x	2.63x	3.10x	3.67x	3.41x	1.82x	1.30x	1.11x	1.49x	1.67x
Interest Coverage	-0.67x	-0.29x	0.75x	1.04x	0.47x	1.43x	3.68x	3.66x	1.18x	1.31x
FCF Conversion	-0.68x	-3.46x	-0.96x	-24.29x	-4.05x	0.37x	2.59x	1.20x	-0.58x	-6.25x
Revenue Growth	21.59%	-0.9%	-18.87%	7.13%	45.24%	4.39%	29.51%	-3.3%	-17.49%	7.86%

Revenue by Segment

	2012	2014	2017	2018	2019	2020	2021	2022	2023	2024
TiO2	-	-	-	-	2.05B	2.18B	2.79B	2.69B	2.25B	2.41B
TiO2 Growth	-	-	-	-	-	6.20%	28.35%	-3.58%	-16.52%	7.07%
Product and Service, Other	-	-	-	-	-	-	-	323M	345M	345M
Product and Service, Other Growth	-	-	-	-	-	-	-	-	6.81%	0.00%
Zircon	-	-	-	293M	290M	283M	478M	438M	257M	322M
Zircon Growth	-	-	-	-	-1.02%	-2.41%	68.90%	-8.37%	-41.32%	25.29%
Feedstock and Other Products	-	-	-	137M	303M	299M	301M	-	-	-
Feedstock and Other Products Growth	-	-	-	-	121.17%	-1.32%	0.67%	-	-	-
Electrolytic	-	-	53M	37M	-	-	-	-	-	-
Electrolytic Growth	-	-	-	-30.19%	-	-	-	-	-	-
Pigment	64M	-	1.21B	1.26B	-	-	-	-	-	-
Pigment Growth	-	-	-	4.46%	-	-	-	-	-	-
Pig Iron	-	-	-	87M	-	-	-	-	-	-
Pig Iron Growth	-	-	-	-	-	-	-	-	-	-
Titanium Feedstock and Co-Products	-	-	434M	-	-	-	-	-	-	-
Titanium Feedstock and Co-Products Growth	-	-	-	-	-	-	-	-	-	-
Pigment	-	1.18B	-	-	-	-	-	-	-	-
Pigment Growth	-	-	-	-	-	-	-	-	-	-
Mineral Sands	-	794M	-	-	-	-	-	-	-	-
Mineral Sands Growth	-	-	-	-	-	-	-	-	-	-
Corporate and Other	-	113M	-	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-
Minerals	489M	-	-	-	-	-	-	-	-	-
Minerals Growth	-	-	-	-	-	-	-	-	-	-
Elimination	-29M	-	-	-	-	-	-	-	-	-
Elimination Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2012	2014	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	749M	663M	685M	676M	653M	716M	733M	686M	763M
UNITED STATES Growth	-	-	-11.48%	3.32%	-1.31%	-3.40%	9.65%	2.37%	-6.41%	11.22%
AUSTRALIA	-	426M	452M	444M	674M	637M	873M	822M	659M	704M
AUSTRALIA Growth	-	-	6.10%	-1.77%	51.80%	-5.49%	37.05%	-5.84%	-19.83%	6.83%
Other Foreign	-	-	-	-	704M	837M	726M	665M	522M	532M
Other Foreign Growth	-	-	-	-	-	18.89%	-13.26%	-8.40%	-21.50%	1.92%
SOUTH AFRICA	-	329M	-	-	370M	330M	441M	484M	398M	419M
SOUTH AFRICA Growth	-	-	-	-	-	-10.81%	33.64%	9.75%	-17.77%	5.28%
SAUDI ARABIA	-	-	-	-	-	-	420M	419M	318M	349M
SAUDI ARABIA Growth	-	-	-	-	-	-	-	-0.24%	-24.11%	9.75%
South Africa	-	-	350M	444M	-	-	-	-	-	-
South Africa Growth	-	-	-	26.86%	-	-	-	-	-	-
NETHERLANDS	-	-	233M	246M	-	-	-	-	-	-
NETHERLANDS Growth	-	-	-	5.58%	-	-	-	-	-	-
The Netherlands	-	233M	-	-	-	-	-	-	-	-
The Netherlands Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Tronox Holdings plc (TROX) reported $2.84B in revenue for fiscal year 2024. This represents a 134% increase from $1.22B in 2010.

Tronox Holdings plc (TROX) grew revenue by 7.9% over the past year. This is steady growth.

Tronox Holdings plc (TROX) reported a net loss of $324.0M for fiscal year 2024.

Dividend & Returns

Yes, Tronox Holdings plc (TROX) pays a dividend with a yield of 8.67%. This makes it attractive for income-focused investors.

Tronox Holdings plc (TROX) has a return on equity (ROE) of -2.5%. Negative ROE indicates the company is unprofitable.

Tronox Holdings plc (TROX) had negative free cash flow of $369.0M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Tronox Holdings plc (TROX) 10-Year Financial Performance & Capital Metrics

TROX • • Industrial / General

Basic MaterialsChemicalsPigments & Specialty MaterialsTitanium Dioxide Pigment Producers

Revenue $3.07B +7.9%
EBITDA $504M +9.3%
Net Income -$48M +84.8%
EPS (Diluted) -0.30 +85.1%
Gross Margin 16.75% +3.3%
EBITDA Margin 16.4% +1.4%
Operating Margin 7.12% +9.2%
Net Margin -1.56% +85.9%
ROE -2.55% +82.3%
ROIC 3.54% +21.3%
Debt/Equity 1.67 +12.0%
Interest Coverage 1.31 +11.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 80 (top 20%)
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.8%
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y5.87%

5Y3.08%

3Y-4.88%

TTM-7.78%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-337.84%

EPS CAGR

10Y-

5Y-

3Y-

TTM-329.59%

ROCE

10Y Avg3.81%

5Y Avg6.4%

3Y Avg5.4%

Latest4.15%

Peer Comparison

Titanium Dioxide Pigment Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VHIValhi, Inc.	405.85M	14.34	3.78	9.53%	0.89%	1.31%	3.23%	0.42
TROXTronox Holdings plc	927.53M	5.85	-19.50	7.86%	-11.39%	-203.39%		1.67

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.11B	2.09B	1.7B	1.82B	2.64B	2.76B	3.57B	3.45B	2.85B	3.07B
Revenue Growth %	0.22%	-0.01%	-0.19%	0.07%	0.45%	0.04%	0.3%	-0.03%	-0.17%	0.08%
Cost of Goods Sold+	1.99B	1.85B	1.31B	1.32B	2.18B	2.14B	2.68B	2.62B	2.39B	2.56B
COGS % of Revenue	0.94%	0.88%	0.77%	0.73%	0.82%	0.77%	0.75%	0.76%	0.84%	0.83%
Gross Profit+	120M	247M	388M	498M	464M	621M	895M	832M	462M	515M
Gross Margin %	0.06%	0.12%	0.23%	0.27%	0.18%	0.23%	0.25%	0.24%	0.16%	0.17%
Gross Profit Growth %	-0.42%	1.06%	0.57%	0.28%	-0.07%	0.34%	0.44%	-0.07%	-0.44%	0.11%
Operating Expenses+	220M	186M	251M	298M	369M	350M	318M	374M	276M	296M
OpEx % of Revenue	0.1%	0.09%	0.15%	0.16%	0.14%	0.13%	0.09%	0.11%	0.1%	0.1%
Selling, General & Admin	217M	153M	251M	267M	347M	347M	318M	289M	276M	251M
SG&A % of Revenue	0.1%	0.07%	0.15%	0.15%	0.13%	0.13%	0.09%	0.08%	0.1%	0.08%
Research & Development	0	0	8M	0	0	0	13M	12M	12M	14M
R&D % of Revenue	-	-	0%	-	-	-	0%	0%	0%	0%
Other Operating Expenses	28M	24M	-9M	31M	22M	3M	-13M	73M	-12M	31M
Operating Income+	-118M	-53M	141M	200M	95M	271M	577M	458M	186M	219M
Operating Margin %	-0.06%	-0.03%	0.08%	0.11%	0.04%	0.1%	0.16%	0.13%	0.07%	0.07%
Operating Income Growth %	-8.87%	0.55%	3.66%	0.42%	-0.53%	1.85%	1.13%	-0.21%	-0.59%	0.18%
EBITDA+	135M	124M	328M	400M	375M	575M	886M	739M	461M	504M
EBITDA Margin %	0.06%	0.06%	0.19%	0.22%	0.14%	0.21%	0.25%	0.21%	0.16%	0.16%
EBITDA Growth %	-0.56%	-0.08%	1.65%	0.22%	-0.06%	0.53%	0.54%	-0.17%	-0.38%	0.09%
D&A (Non-Cash Add-back)	253M	177M	187M	200M	280M	304M	309M	281M	275M	285M
EBIT	-200M	-79M	101M	236M	105M	293M	531M	433M	198M	240M
Net Interest Income+	-169M	-182M	-178M	-160M	-183M	-181M	-150M	-116M	-140M	-157M
Interest Income	7M	3M	10M	33M	18M	8M	7M	9M	18M	10M
Interest Expense	176M	184M	188M	193M	201M	189M	157M	125M	158M	167M
Other Income/Expense	-148M	-211M	-228M	-157M	-183M	-157M	-203M	-150M	-137M	-146M
Pretax Income+	-266M	-264M	-87M	43M	-88M	114M	374M	308M	49M	73M
Pretax Margin %	-0.13%	-0.13%	-0.05%	0.02%	-0.03%	0.04%	0.1%	0.09%	0.02%	0.02%
Income Tax+	23M	-115M	6M	13M	14M	-881M	71M	-192M	363M	127M
Effective Tax Rate %	1.2%	0.23%	3.28%	-0.16%	1.24%	8.5%	0.76%	1.61%	-6.45%	-0.66%
Net Income+	-318M	-61M	-285M	-7M	-109M	969M	286M	497M	-316M	-48M
Net Margin %	-0.15%	-0.03%	-0.17%	-0%	-0.04%	0.35%	0.08%	0.14%	-0.11%	-0.02%
Net Income Growth %	0.26%	0.81%	-3.67%	0.98%	-14.57%	9.89%	-0.7%	0.74%	-1.64%	0.85%
Net Income (Continuing)	-372M	-139M	-93M	30M	-102M	995M	303M	500M	-314M	-54M
Discontinued Operations	0	79M	0	0	5M	0	0	0	0	0
Minority Interest	112M	144M	186M	179M	168M	173M	48M	46M	44M	30M
EPS (Diluted)+	-2.75	-0.50	-2.38	-0.06	-0.78	6.69	1.81	3.16	-2.02	-0.30
EPS Growth %	0.26%	0.82%	-3.76%	0.98%	-12.68%	9.58%	-0.73%	0.75%	-1.64%	0.85%
EPS (Basic)	-2.75	-0.51	-2.39	-0.06	-0.78	6.76	1.88	3.21	-2.02	-0.30
Diluted Shares Outstanding	115.57M	116.16M	119.5M	122.88M	139.86M	144.91M	157.94M	157.11M	156.4M	157.82M
Basic Shares Outstanding	115.57M	116.16M	119.1M	122.88M	139.86M	143.35M	152.06M	154.87M	156.4M	157.82M
Dividend Payout Ratio	-	-	-	-	-	0.04%	0.23%	0.18%	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.3B	2.74B	2.64B	2.54B	2.07B	2.53B	2.05B	1.96B	2.13B	2.15B
Cash & Short-Term Investments	229M	248M	1.12B	1.03B	302M	648M	228M	164M	273M	151M
Cash Only	229M	248M	1.12B	1.03B	302M	648M	228M	164M	273M	151M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	391M	289M	336M	319M	488M	561M	637M	383M	300M	268M
Days Sales Outstanding	67.57	50.4	72.23	64.01	67.42	74.24	65.09	40.47	38.42	31.82
Inventory	630M	499M	473M	479M	1.13B	1.14B	1.05B	1.28B	1.42B	1.55B
Days Inventory Outstanding	115.44	98.66	131.79	132.35	189.54	194.2	142.89	177.91	217.2	221.23
Other Current Assets	5M	1.69B	661M	662M	9M	183M	4M	135M	141M	185M
Total Non-Current Assets+	3.77B	3.7B	2.23B	2.1B	3.19B	4.04B	3.94B	4.35B	4B	3.88B
Property, Plant & Equipment	3.45B	3.44B	2B	1.8B	2.71B	2.64B	2.54B	2.67B	2.62B	2.68B
Fixed Asset Turnover	0.61x	0.61x	0.85x	1.01x	0.97x	1.04x	1.41x	1.30x	1.09x	1.15x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	244M	223M	198M	176M	208M	201M	217M	250M	243M	244M
Long-Term Investments	12M	13M	13M	12M	0	0	0	0	0	0
Other Non-Current Assets	-158M	-188M	13M	73M	162M	175M	194M	196M	218M	126M
Total Assets+	5.07B	4.95B	4.86B	4.64B	5.27B	6.57B	5.99B	6.31B	6.13B	6.04B
Asset Turnover	0.42x	0.42x	0.35x	0.39x	0.50x	0.42x	0.60x	0.55x	0.46x	0.51x
Asset Growth %	0%	-0.02%	-0.02%	-0.05%	0.13%	0.25%	-0.09%	0.05%	-0.03%	-0.02%
Total Current Liabilities+	548M	564M	353M	300M	702M	805M	822M	850M	753M	874M
Accounts Payable	159M	136M	165M	133M	342M	356M	438M	415M	461M	499M
Days Payables Outstanding	29.13	26.89	45.97	36.75	57.31	60.8	59.72	57.77	70.46	71.17
Short-Term Debt	166M	166M	22M	22M	38M	97M	18M	74M	38M	100M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	69M	172M	76M	71M	145M	217M	190M	188M	125M	121M
Current Ratio	2.37x	4.85x	7.48x	8.48x	2.95x	3.14x	2.49x	2.31x	2.84x	2.47x
Quick Ratio	1.22x	3.97x	6.14x	6.88x	1.34x	1.73x	1.22x	0.80x	0.95x	0.69x
Cash Conversion Cycle	153.88	122.17	158.04	159.61	199.64	207.64	148.26	160.61	185.15	181.87
Total Non-Current Liabilities+	3.37B	3.27B	3.5B	3.48B	3.65B	3.89B	3.12B	3.05B	3.4B	3.37B
Long-Term Debt	2.91B	2.89B	3.13B	3.14B	2.99B	3.25B	2.56B	2.43B	2.79B	2.76B
Capital Lease Obligations	0	0	19M	15M	62M	53M	55M	147M	103M	107M
Deferred Tax Liabilities	143M	152M	171M	163M	184M	176M	157M	153M	149M	174M
Other Non-Current Liabilities	316M	208M	200M	178M	416M	412M	353M	326M	363M	333M
Total Liabilities	3.96B	3.79B	3.85B	3.78B	4.35B	4.7B	3.94B	3.9B	4.15B	4.25B
Total Debt+	3.12B	3.05B	3.15B	3.16B	3.13B	3.4B	2.66B	2.67B	2.95B	2.99B
Net Debt	2.89B	2.81B	2.03B	2.13B	2.82B	2.75B	2.43B	2.5B	2.68B	2.84B
Debt / Equity	2.81x	2.63x	3.10x	3.67x	3.41x	1.82x	1.30x	1.11x	1.49x	1.67x
Debt / EBITDA	23.12x	24.63x	9.59x	7.90x	8.34x	5.91x	3.00x	3.61x	6.40x	5.93x
Net Debt / EBITDA	21.42x	22.63x	6.19x	5.32x	7.53x	4.79x	2.74x	3.39x	5.81x	5.63x
Interest Coverage	-0.67x	-0.29x	0.75x	1.04x	0.47x	1.43x	3.68x	3.66x	1.18x	1.31x
Total Equity+	1.11B	1.16B	1.01B	862M	916M	1.87B	2.04B	2.4B	1.98B	1.79B
Equity Growth %	-0.38%	0.05%	-0.13%	-0.15%	0.06%	1.04%	0.09%	0.18%	-0.18%	-0.1%
Book Value per Share	9.60	9.99	8.49	7.01	6.55	12.91	12.93	15.30	12.66	11.35
Total Shareholders' Equity	998M	1.02B	829M	683M	748M	1.7B	1.99B	2.36B	1.94B	1.76B
Common Stock	1M	1M	1M	1M	1M	1M	2M	2M	2M	2M
Retained Earnings	93M	-13M	-327M	-357M	-493M	434M	663M	1.08B	684M	555M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-596M	-495M	-403M	-540M	-606M	-610M	-738M	-768M	-814M	-880M
Minority Interest	112M	144M	186M	179M	168M	173M	48M	46M	44M	30M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	216M	211M	273M	170M	441M	355M	740M	598M	184M	300M
Operating CF Margin %	0.1%	0.1%	0.16%	0.09%	0.17%	0.13%	0.21%	0.17%	0.06%	0.1%
Operating CF Growth %	0.53%	-0.02%	0.29%	-0.38%	1.59%	-0.2%	1.08%	-0.19%	-0.69%	0.63%
Net Income	-307M	-58M	-93M	30M	-102M	995M	286M	500M	-316M	-48M
Depreciation & Amortization	294M	294K	182K	195M	312M	306M	309M	240M	245M	254M
Stock-Based Compensation	22M	25M	31M	21M	32M	30M	0	26M	21M	21M
Deferred Taxes	14M	-116M	2M	-21M	-9M	-899M	15M	-261M	330M	110M
Other Non-Cash Items	-6M	280.71M	311.82M	63M	150M	75M	148M	108M	78M	66M
Working Capital Changes	199M	79M	21M	-118M	58M	-152M	-18M	-15M	-174M	-103M
Change in Receivables	20M	-27M	-50M	-11M	78M	-49M	-108M	233M	84M	11M
Change in Inventory	157M	111M	60M	-47M	-59M	-21M	53M	-255M	-151M	-115M
Change in Payables	-12M	8M	1M	-51M	67M	-12M	53M	-5M	-84M	-11M
Cash from Investing+	-1.84B	-117M	558M	-174M	-1.19B	-229M	-269M	-415M	-255M	-343M
Capital Expenditures	-191M	-119M	-91M	-117M	-198M	-195M	-272M	-428M	-261M	-370M
CapEx % of Revenue	0.09%	0.06%	0.05%	0.06%	0.07%	0.07%	0.08%	0.12%	0.09%	0.12%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1M	3.65M	-676M	-63M	-14M	-35M	1M	13M	6M	27M
Cash from Financing+	603M	-77M	24M	-46M	-638M	214M	-877M	-250M	176M	-71M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-117M	-46M	-23M	-23M	-27M	-40M	-65M	-87M	-89M	-80M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-12M	-1M	-38M	-26M	-158M	-10M	-43M	-22M	-3M	-16M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	25M	92M	182M	53M	243M	160M	468M	170M	-77M	-70M
FCF Margin %	0.01%	0.04%	0.11%	0.03%	0.09%	0.06%	0.13%	0.05%	-0.03%	-0.02%
FCF Growth %	1.54%	2.68%	0.98%	-0.71%	3.58%	-0.34%	1.93%	-0.64%	-1.45%	0.09%
FCF per Share	0.22	0.79	1.52	0.43	1.74	1.10	2.96	1.08	-0.49	-0.44
FCF Conversion (FCF/Net Income)	-0.68x	-3.46x	-0.96x	-24.29x	-4.05x	0.37x	2.59x	1.20x	-0.58x	-6.25x
Interest Paid	152M	171M	186M	84M	188M	0	0	114M	143M	151M
Taxes Paid	23M	2M	10M	28M	34M	17M	0	60M	54M	10M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-21.95%	-5.37%	-26.19%	-0.75%	-12.26%	69.54%	14.62%	22.36%	-14.42%	-2.55%
Return on Invested Capital (ROIC)	-2.56%	-1%	3.02%	4.97%	2.12%	4.86%	9.52%	7.33%	2.92%	3.54%
Gross Margin	5.68%	11.8%	22.85%	27.38%	17.56%	22.52%	25.06%	24.09%	16.21%	16.75%
Net Margin	-15.06%	-2.91%	-16.78%	-0.38%	-4.13%	35.13%	8.01%	14.39%	-11.09%	-1.56%
Debt / Equity	2.81x	2.63x	3.10x	3.67x	3.41x	1.82x	1.30x	1.11x	1.49x	1.67x
Interest Coverage	-0.67x	-0.29x	0.75x	1.04x	0.47x	1.43x	3.68x	3.66x	1.18x	1.31x
FCF Conversion	-0.68x	-3.46x	-0.96x	-24.29x	-4.05x	0.37x	2.59x	1.20x	-0.58x	-6.25x
Revenue Growth	21.59%	-0.9%	-18.87%	7.13%	45.24%	4.39%	29.51%	-3.3%	-17.49%	7.86%

Revenue by Segment

	2012	2014	2017	2018	2019	2020	2021	2022	2023	2024
TiO2	-	-	-	-	2.05B	2.18B	2.79B	2.69B	2.25B	2.41B
TiO2 Growth	-	-	-	-	-	6.20%	28.35%	-3.58%	-16.52%	7.07%
Product and Service, Other	-	-	-	-	-	-	-	323M	345M	345M
Product and Service, Other Growth	-	-	-	-	-	-	-	-	6.81%	0.00%
Zircon	-	-	-	293M	290M	283M	478M	438M	257M	322M
Zircon Growth	-	-	-	-	-1.02%	-2.41%	68.90%	-8.37%	-41.32%	25.29%
Feedstock and Other Products	-	-	-	137M	303M	299M	301M	-	-	-
Feedstock and Other Products Growth	-	-	-	-	121.17%	-1.32%	0.67%	-	-	-
Electrolytic	-	-	53M	37M	-	-	-	-	-	-
Electrolytic Growth	-	-	-	-30.19%	-	-	-	-	-	-
Pigment	64M	-	1.21B	1.26B	-	-	-	-	-	-
Pigment Growth	-	-	-	4.46%	-	-	-	-	-	-
Pig Iron	-	-	-	87M	-	-	-	-	-	-
Pig Iron Growth	-	-	-	-	-	-	-	-	-	-
Titanium Feedstock and Co-Products	-	-	434M	-	-	-	-	-	-	-
Titanium Feedstock and Co-Products Growth	-	-	-	-	-	-	-	-	-	-
Pigment	-	1.18B	-	-	-	-	-	-	-	-
Pigment Growth	-	-	-	-	-	-	-	-	-	-
Mineral Sands	-	794M	-	-	-	-	-	-	-	-
Mineral Sands Growth	-	-	-	-	-	-	-	-	-	-
Corporate and Other	-	113M	-	-	-	-	-	-	-	-
Corporate and Other Growth	-	-	-	-	-	-	-	-	-	-
Minerals	489M	-	-	-	-	-	-	-	-	-
Minerals Growth	-	-	-	-	-	-	-	-	-	-
Elimination	-29M	-	-	-	-	-	-	-	-	-
Elimination Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2012	2014	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	-	749M	663M	685M	676M	653M	716M	733M	686M	763M
UNITED STATES Growth	-	-	-11.48%	3.32%	-1.31%	-3.40%	9.65%	2.37%	-6.41%	11.22%
AUSTRALIA	-	426M	452M	444M	674M	637M	873M	822M	659M	704M
AUSTRALIA Growth	-	-	6.10%	-1.77%	51.80%	-5.49%	37.05%	-5.84%	-19.83%	6.83%
Other Foreign	-	-	-	-	704M	837M	726M	665M	522M	532M
Other Foreign Growth	-	-	-	-	-	18.89%	-13.26%	-8.40%	-21.50%	1.92%
SOUTH AFRICA	-	329M	-	-	370M	330M	441M	484M	398M	419M
SOUTH AFRICA Growth	-	-	-	-	-	-10.81%	33.64%	9.75%	-17.77%	5.28%
SAUDI ARABIA	-	-	-	-	-	-	420M	419M	318M	349M
SAUDI ARABIA Growth	-	-	-	-	-	-	-	-0.24%	-24.11%	9.75%
South Africa	-	-	350M	444M	-	-	-	-	-	-
South Africa Growth	-	-	-	26.86%	-	-	-	-	-	-
NETHERLANDS	-	-	233M	246M	-	-	-	-	-	-
NETHERLANDS Growth	-	-	-	5.58%	-	-	-	-	-	-
The Netherlands	-	233M	-	-	-	-	-	-	-	-
The Netherlands Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Tronox Holdings plc (TROX) reported $2.84B in revenue for fiscal year 2024. This represents a 134% increase from $1.22B in 2010.

Tronox Holdings plc (TROX) grew revenue by 7.9% over the past year. This is steady growth.

Tronox Holdings plc (TROX) reported a net loss of $324.0M for fiscal year 2024.

Dividend & Returns

Yes, Tronox Holdings plc (TROX) pays a dividend with a yield of 8.67%. This makes it attractive for income-focused investors.

Tronox Holdings plc (TROX) has a return on equity (ROE) of -2.5%. Negative ROE indicates the company is unprofitable.

Tronox Holdings plc (TROX) had negative free cash flow of $369.0M in fiscal year 2024, likely due to heavy capital investments.