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Tronox Holdings plc (TROX) stock

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NYSE: TROX NYSE Commodity Chemicals Next results ~November 4, 2026

D Fundamentals grade

Tronox Holdings plc is a US-listed company in the commodity chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$8.1

Forward price-to-sales vs peers

Base case. Range ~$6.5–$15. Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Tronox Holdings plc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 7 sales by directors and officers, last 12 monthsInsider trades
  • Funds127 adding, 97 cuttingOf 43 active managers that changed their stake, 29 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Tronox Holdings files

Where Tronox stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.06bn, up 3.7% on a year earlier, against a decline of 3.9% a quarter earlier. That growth ranks 2 of 11 among the commodity chemicals companies we cover. Free-cash-flow margin rose to -5.2% from -8.3% a year earlier. Operating margin narrowed to -7.2% from 0.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 7 financial-health checks. Our price-to-sales vs peers value is $6.08 a share, against a share price of $3.55.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Tronox Holdings plc's trailing-twelve-month revenue grew 3.7% year on year, with a free-cash-flow margin of -5.2%. Where it stands out: change in growth rate of +7.5pp ranks 1 of 13 commodity chemicals companies we cover. Where it lags: net margin of -18.0% ranks 13 of 13 commodity chemicals companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 35.4% while net income fell 119.6%: a 155pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 7.5 points higher than a quarter earlier.

Things to watch

  • Loss-making. Operating margin is -7.2%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 7.4 points on a year ago.
  • Burning cash. Free cash flow was -5.2% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 76% and a beta of 1.8 against the S&P 500.
  • Gross margin slipping. Gross margin is down 8.1 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 52.5% ranks 11 of 12 commodity chemicals companies we cover (median 37.2%).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
-$0.51 against an average estimate of -$0.37: missed by 38.6%
Revenue
$868m, up 18.7% on a year earlier
Share reaction
+11.3% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 4, 2026; average EPS estimate -$0.19

Tronox Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.9%
  • 1 week-0.3%
  • 1 month-12.0%
  • This year-15.3%
  • 1 year+2.4%
  • 5 years-82.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.1B
Operating margin
-7.2%
Net margin
-18.0%
EPS (TTM, diluted)
$-3.45

Growth

Revenue growth
+3.7%
Change in growth rate
+7.5 pts
Share count change
+0.7%

Cash

Free cash flow (TTM)
-$159M
FCF margin
-5.2%
Stock pay % of revenue
0.7%

Earnings

Last results
August 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Partnership
  3. Results
  4. Results
  5. Leadership
  6. Dividend

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Tronox Holdings plc valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Tronox Holdings plc as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.22 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: the projected cash flows don't support a positive value
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$8.1 ~$6.5–$15 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.1 ~$6.5–$15 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Tronox Holdings plc with Commodity Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$2.76$7.79$15.61$5.96$8.91$11.81$19.75$11.63$12.50$9.19$4.08$3.46
Market value$319m$905m$1.9bn$732m$1.2bn$1.7bn$3.1bn$1.8bn$2.0bn$1.5bn$647m$550m
+ Net debt (− = net cash)$2.9bn$2.8bn$2.1bn$2.2bn$2.8bn$2.7bn$2.4bn$2.4bn$2.6bn$2.7bn$3.1bn$3.1bn
Enterprise value$3.2bn$3.7bn$4.0bn$2.9bn$4.0bn$4.5bn$5.5bn$4.2bn$4.5bn$4.2bn$3.7bn$3.6bn
Multiples
Price / sales 0.2x0.7x1.1x0.4x0.5x0.6x0.9x0.5x0.7x0.5x0.2x0.2x
Price / earnings —————1.8x10.9x3.7x————
Price / free cash flow ——25.2x13.8x5.8x10.7x6.7x10.7x————
EV / EBITDA 61.7x30.2x12.2x7.4x10.7x7.8x6.3x5.8x9.8x8.3x75.6x64.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

29 /100

Weak moat

How hard Tronox Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 1 / 20

    Cash operating profit has been a median 2.9% of total assets over 10 years.

  • Pricing power 4 / 20

    Gross margin has been a median 20.5%, moving by 5.8 percentage points (standard deviation) across 10 years.

  • Durability 1 / 20

    Operating margin has been a median 7.0%; its worst year was -7.2%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 2.6% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 4.1% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $851m and EPS of −$0.19 (range −$0.28 to −$0.13) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.47 +2% $3.3bn +13%
Next −$0.45 +69% $3.4bn +5%

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.37 −$0.51 −38.6%
Mar 2026 −$0.41 −$0.55 −35.7%
Dec 2025 −$0.58 −$0.60 −3.7%
Sept 2025 −$0.21 −$0.46 −119.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

8 analysts, Oct 2026
Buy113%
Hold450%
Sell338%

Monthly trend

  1. Oct 202614218
  2. Sep 202614218
  3. Aug 202614218
  4. Jul 20261528

Counts of recommendations published by analysts covering Tronox Holdings plc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.6%
of tradable shares
Days to cover
7.78
at average volume
Short interest, 1 month
−7%
to September 30, 2026
Held by institutions
81%
of shares
Held by insiders
25.5%
of shares
Employees
5,700
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +2.4%

$3.38 on October 31, 2025 to $3.46

ThenNowEffect
Revenue (last 12 months) $2.9bn $3.1bn +3.7%
P/S multiple 0.2x 0.2x −0.5%
Share count 158m 159m −0.7%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years −66.0%

$10.18 on November 3, 2023 to $3.46

ThenNowEffect
Revenue (last 12 months) $3.0bn $3.1bn +0.4%
P/S multiple 0.5x 0.2x −65.5%
Share count 156m 159m −1.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TROX+67%−41%+7%−26%−56%−15%
Industry peers (median)+21%−6%+5%−18%−35%+18%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TROX67%17%50%50%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TROX−29%−56%−40%−50%−70%−69%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 87% from October 25, 2021 to November 20, 2025. Getting back needed a 661% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.82 – $10.34
From 52-week high
−66.5%
vs 50-day average
−16.8%
vs 200-day average
−47.4%
Volatility (1 year)
76%
Beta vs S&P 500
1.76

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±12.6%
After a week
5 up, 7 down
typical move ±12.4%
After a month
5 up, 7 down
typical move ±16.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +11.3% +0.5% +3.4% −17.1%
May 7, 2026 −12.8% +0.5% −15.1% −27.5%
February 19, 2026 −11.6% +0.5% −6.9% −8.9%
January 26, 2026 +3.2% +0.9% +1.1% +15.3%
November 6, 2025 +7.2% −1.0% +10.4% +19.3%
July 31, 2025 −33.9% −2.0% −37.2% −15.4%
May 1, 2025 +5.7% +2.2% −5.4% +1.8%
February 13, 2025 −20.3% +1.1% −20.2% −24.6%
October 25, 2024 −8.0% +0.3% −10.7% −6.2%
August 2, 2024 −19.1% −4.7% −17.2% −15.6%
May 2, 2024 +10.2% +2.2% +12.2% +19.5%
April 22, 2024 +7.8% +2.1% +9.5% +21.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Tronox Holdings plc in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Tronox Holdings plc
$2.8B $2.9B $3B $3.1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2.8B Revenue (TTM), FY23 Q4: $2.9B Revenue (TTM), FY24 Q1: $2.9B Revenue (TTM), FY24 Q2: $2.9B Revenue (TTM), FY24 Q3: $3.1B Revenue (TTM), FY24 Q4: $3.1B Revenue (TTM), FY25 Q1: $3B Revenue (TTM), FY25 Q2: $2.9B Revenue (TTM), FY25 Q3: $2.8B Revenue (TTM), FY25 Q4: $2.9B Revenue (TTM), FY26 Q1: $2.9B Revenue (TTM), FY26 Q2: $3.1B $3.1B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2.8B
FY23 Q4 $2.9B
FY24 Q1 $2.9B
FY24 Q2 $2.9B
FY24 Q3 $3.1B
FY24 Q4 $3.1B
FY25 Q1 $3B
FY25 Q2 $2.9B
FY25 Q3 $2.8B
FY25 Q4 $2.9B
FY26 Q1 $2.9B
FY26 Q2 $3.1B
Revenue growth, TTM YoY Tronox Holdings plc
-30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -23.7% Revenue growth, TTM YoY, FY23 Q4: -17.5% Revenue growth, TTM YoY, FY24 Q1: -8.8% Revenue growth, TTM YoY, FY24 Q2: -3.4% Revenue growth, TTM YoY, FY24 Q3: 9.6% Revenue growth, TTM YoY, FY24 Q4: 7.9% Revenue growth, TTM YoY, FY25 Q1: 4.2% Revenue growth, TTM YoY, FY25 Q2: 0.2% Revenue growth, TTM YoY, FY25 Q3: -7.8% Revenue growth, TTM YoY, FY25 Q4: -5.7% Revenue growth, TTM YoY, FY26 Q1: -3.9% Revenue growth, TTM YoY, FY26 Q2: 3.7% 3.7%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -23.7%
FY23 Q4 -17.5%
FY24 Q1 -8.8%
FY24 Q2 -3.4%
FY24 Q3 9.6%
FY24 Q4 7.9%
FY25 Q1 4.2%
FY25 Q2 0.2%
FY25 Q3 -7.8%
FY25 Q4 -5.7%
FY26 Q1 -3.9%
FY26 Q2 3.7%
Operating margin (TTM) Tronox Holdings plc
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 7.6% Operating margin (TTM), FY23 Q4: 6.5% Operating margin (TTM), FY24 Q1: 5.7% Operating margin (TTM), FY24 Q2: 5.3% Operating margin (TTM), FY24 Q3: 5.8% Operating margin (TTM), FY24 Q4: 7.1% Operating margin (TTM), FY25 Q1: 3.9% Operating margin (TTM), FY25 Q2: 0.2% Operating margin (TTM), FY25 Q3: -3.2% Operating margin (TTM), FY25 Q4: -8.7% Operating margin (TTM), FY26 Q1: -8.0% Operating margin (TTM), FY26 Q2: -7.2% -7.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 7.6%
FY23 Q4 6.5%
FY24 Q1 5.7%
FY24 Q2 5.3%
FY24 Q3 5.8%
FY24 Q4 7.1%
FY25 Q1 3.9%
FY25 Q2 0.2%
FY25 Q3 -3.2%
FY25 Q4 -8.7%
FY26 Q1 -8.0%
FY26 Q2 -7.2%
FCF margin (TTM) Tronox Holdings plc
-15% -10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -0.1% FCF margin (TTM), FY23 Q4: -2.7% FCF margin (TTM), FY24 Q1: -0.3% FCF margin (TTM), FY24 Q2: -0.2% FCF margin (TTM), FY24 Q3: 0.5% FCF margin (TTM), FY24 Q4: -2.3% FCF margin (TTM), FY25 Q1: -3.5% FCF margin (TTM), FY25 Q2: -8.3% FCF margin (TTM), FY25 Q3: -13.0% FCF margin (TTM), FY25 Q4: -9.7% FCF margin (TTM), FY26 Q1: -9.4% FCF margin (TTM), FY26 Q2: -5.2% -5.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -0.1%
FY23 Q4 -2.7%
FY24 Q1 -0.3%
FY24 Q2 -0.2%
FY24 Q3 0.5%
FY24 Q4 -2.3%
FY25 Q1 -3.5%
FY25 Q2 -8.3%
FY25 Q3 -13.0%
FY25 Q4 -9.7%
FY26 Q1 -9.4%
FY26 Q2 -5.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,543 1,832 1,922 1,737 1,510 1,309 1,698 1,819 2,642 2,758 3,572 3,454 2,850 3,074 2,898 3,057
Gross profit 439 264 190 207 19 133 389 498 464 621 895 832 462 515 269 190
EBITDA — 236 336 295 52 124 323 395 375 575 874 727 461 504 49 56
Operating income 302 25 3 0 −201 −53 141 200 95 271 577 458 186 219 −253 −219
Net income 242 1,134 −126 −427 −329 −61 −285 −7 −109 969 286 497 −316 −48 −470 −549
Diluted EPS — $11.10 −$1.11 −$3.74 −$2.84 −$0.52 −$2.39 −$0.06 −$0.78 $6.69 $1.81 $3.16 −$2.02 −$0.31 −$2.97 −$3.45
Growth (year on year)
Revenue — +18.7% +4.9% −9.6% −13.1% −13.3% +29.7% +7.1% +45.2% +4.4% +29.5% −3.3% −17.5% +7.9% −5.7% +3.7%
EBITDA — — +42.4% −12.2% −82.4% +138.5% +160.5% +22.3% −5.1% +53.3% +52.0% −16.8% −36.6% +9.3% −90.3% −78.1%
Operating income — −91.7% — — — — — +41.8% −52.5% +185.3% +112.9% −20.6% −59.4% +17.7% −215.5% —
Net income — +368.6% −111.1% — — — — — — — −70.5% +73.8% −163.6% — — —
Diluted EPS — — −110.0% — — — — — — — −72.9% +74.6% −163.9% — — —
Margins
Gross margin 28.5% 14.4% 9.9% 11.9% 1.3% 10.2% 22.9% 27.4% 17.6% 22.5% 25.1% 24.1% 16.2% 16.8% 9.3% 6.2%
EBITDA margin — 12.9% 17.5% 17.0% 3.4% 9.5% 19.0% 21.7% 14.2% 20.8% 24.5% 21.0% 16.2% 16.4% 1.7% 1.8%
Operating margin 19.6% 1.4% 0.2% 0.0% −13.3% −4.0% 8.3% 11.0% 3.6% 9.8% 16.2% 13.3% 6.5% 7.1% −8.7% −7.2%
Net margin 15.7% 61.9% −6.6% −24.6% −21.8% −4.7% −16.8% −0.4% −4.1% 35.1% 8.0% 14.4% −11.1% −1.6% −16.2% −18.0%
Free-cash-flow margin 8.4% −2.6% 8.9% −2.6% −6.5% −0.2% 4.4% 2.9% 8.1% 5.8% 13.1% 4.9% −2.7% −2.3% −9.7% −5.2%
Cash flow
Cash from operations 263 118 337 141 67 84 165 170 412 355 740 598 184 300 60 101
Capital spending 133 166 165 187 165 86 91 117 198 195 272 428 261 370 341 260
Free cash flow 130 −48 172 −46 −98 −2 74 53 214 160 468 170 −77 −70 −281 −159
Stock-based pay — 32 18 20 22 24 31 21 32 −4 3 26 4 21 20 22
Free cash flow after stock pay — −80 154 −66 −120 −26 43 32 182 164 465 144 −81 −91 −301 −181
Balance sheet
Cash 154 713 1,475 1,276 229 248 1,116 1,034 302 619 228 164 273 151 199 194
Total debt 0 1,645 2,424 2,400 3,121 3,090 3,203 3,209 3,072 3,365 2,617 2,571 2,854 2,891 3,255 3,259
Net debt (negative = net cash) −154 932 949 1,124 2,892 2,842 2,087 2,175 2,770 2,746 2,389 2,407 2,581 2,740 3,056 3,065
Diluted shares — 101m 113m 114m 116m 116m 120m 123m 140m 145m 158m 157m 156m 158m 158m 159m
Returned to shareholders
Dividends — 61 115 116 117 46 23 23 27 40 65 87 89 80 48 44
Buybacks — 326 0 0 — — 0 0 288 0 0 50 0 0 — —
Total returned — 387 115 116 117 46 23 23 315 40 65 137 89 80 48 44

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 7 checks passed · June 30, 2026
What it owns · $6.0bn
Short-term assets $2.1bnLonger-term assets $3.8bn
What it owes, and who funded it · $5.9bn
Short-term liabilities $840mLonger-term liabilities $3.9bnShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $2.1bn of assets due within a year against $840m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.1bn short-term assets against $3.9bn of longer-dated liabilities.
  • More cash than debt $194m of cash against $3.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 272% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 128% to 272% over five years.
  • A year's operating cash flow covers at least 20% of debt $101m of operating cash flow against $3.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$219m against $211m of interest.

From Tronox Holdings plc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$44M
Diluted share count
+0.7%
year over year
Total shareholder yield
8.0%
dividends 8.0% + buybacks 0.0% of market value
Sales & admin spending
9.4%
of revenue
Days sales outstanding
43 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in commodity chemicals
Last 12 months unless stated TROX MEOH VHI KRO KOP OEC Median
Revenue, last 12 months $3.1bn $3.6bn $2.2bn $1.9bn $1.9bn $1.8bn $2.2bn
Revenue growth, last 12 months 3.7% −3.5% 3.4% 2.7% −5.0% −1.0% −0.7%
Revenue growth, 3-year average 0.1% — 3.4% 5.1% −3.5% −2.5% −2.4%
Revenue growth, latest quarter 18.7% — 12.2% 12.9% 3.0% 7.4% 9.0%
Gross margin 6.2% 35.7% 14.7% 11.8% 22.4% 18.4% 11.8%
Operating margin −7.2% 12.0% 3.6% −1.7% −2.2% −0.2% −1.8%
Operating margin, 3-year average −0.5% 14.6% 6.3% 1.9% 4.2% 4.2% 3.2%
Net margin −18.0% 4.0% −2.4% −5.6% −4.6% −5.3% −4.6%
Cash from operations / revenue 3.3% 28.3% 5.2% 4.4% 10.1% 9.7% 5.8%
Free-cash-flow margin −5.2% 25.5% 2.9% 1.2% 7.3% 1.4% 2.9%
Free-cash-flow margin, 3-year average −4.6% 22.6% 0.0% 0.6% 4.6% −0.7% 0.6%
Stock pay / revenue 0.7% −0.1% — — 0.6% 0.6% 0.4%
Change in share count 0.7% 7.5% 0.0% 0.0% −2.5% −1.4% 0.0%

Median of all 13 companies we cover in commodity chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

13 commodity chemicals companies
Measure Company Peer median Rank
Revenue growth Growth 3.7% -0.7% 3 of 13
Change in growth rate Growth +7.5pp +3.6pp 1 of 13
Gross margin Profitability 6.2% 11.8% 11 of 13
Operating margin Profitability -7.2% -1.7% 9 of 10
Net margin Profitability -18.0% -4.6% 13 of 13
Free-cash-flow margin Cash generation -5.2% 2.9% 12 of 13
Stock pay as % of revenue Cash generation 0.7% 0.4% 9 of 10
Long-term debt as % of assets Balance sheet 52.5% 37.2% 11 of 12
Change in share count Balance sheet 0.7% 0.4% 8 of 12
Days sales outstanding Balance sheet 43 days 47 days 3 of 9

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Ti O2 $2.3B 79.3% ▼ 4.5%
Other $326M 11.2% ▼ 5.5%
Zircon $274M 9.5% ▼ 14.9%
Geography
Region Revenue YoY
Europe Middle East and Africa $1.2B ▼ 2.1%
Asia Pacific $790M ▼ 10.1%
North America $749M ▼ 5.9%
United States $702M ▼ 8.0%
Australia $696M ▼ 1.1%
Other Foreign $436M ▼ 18.0%
SA $384M ▲ 10.0%
United Kingdom $357M ▲ 16.3%
ZA $323M ▼ 22.9%
South and Central America $193M ▼ 7.2%

These categories overlap or exclude eliminations, so shares aren't shown.

From Tronox Holdings plc's 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$783M
Institutions reporting
234
Shares held vs prior quarter
▲ 9.3%
Positions opened / closed
36 / 32

Top buyers and sellers, Q2 2026: 127 institutions bought and 97 sold ; the biggest buyer was Two Sigma Investments, LP (+1.9M shares) and the biggest seller Van Lanschot Kempen Investment Management N.V (−2.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $71.4M 11.3M 9.1% ▼ 0.4%
Van Eck Associates Corp $50.8M 8.1M 6.5% ▼ 10.2%
Dimensional Fund Advisors LP $41.9M 6.7M 5.4% ▲ 22.0%
Primecap Management Co $34.5M 5.5M 4.4% ▼ 0.2%
Vanguard Capital Management LLC $33.3M 5.3M 4.2% ▲ 1.9%
D. E. Shaw & Co., Inc. $31.9M 5.1M 4.1% ▲ 38.9%
Charles Schwab Investment Management Inc $30.9M 4.9M 3.9% ▼ 14.6%
Point72 Asset Management, L.P. $29.3M 4.6M 3.7% ▼ 4.1%
American Century Companies Inc $25.4M 4.0M 3.2% ▲ 48.4%
Deutsche Bank Ag\ $25.2M 4.0M 3.2% ▲ 1.9%
Morgan Stanley $24.5M 3.9M 3.1% ▲ 15.3%
Two Sigma Investments, LP $24.5M 3.9M 3.1% ▲ 97.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Tronox Holdings plc's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.3M 7 trades by 6 insiders · 0% under pre-set plans
Net ▼ $1.3M net selling
Insider Date Trade Shares Price Value
Flood Jonathan Principal Accounting Officer March 6, 2026 Sell 8,008 $6.58 $52,693
Engle Jeffrey A. SVP, Chief Commercial Officer March 6, 2026 Sell 14,575 $6.60 $96,195
Neuman Jeffrey N SVP, General Counsel & Sec. March 6, 2026 Sell 22,965 $6.59 $151,339
Turgeon Jean Francois Director March 6, 2026 Sell 18,563 $6.60 $122,516
Srivisal John SVP, Chief Financial Officer March 6, 2026 Sell 19,461 $6.59 $128,248
Romano John D CEO and Director March 6, 2026 Sell 101,600 $6.59 $669,544
Flood Jonathan Principal Accounting Officer March 5, 2026 Sell 7,000 $7.55 $52,850

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 19, 2026
  • January 26, 2026
  • November 6, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Tronox Holdings plc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Tronox Holdings plc in brief

What does Tronox Holdings plc do?
Tronox Holdings plc is a US-listed company in the commodity chemicals industry. Its financial year ends in December.
What is Tronox Holdings plc's stock ticker?
Tronox Holdings plc trades under the ticker TROX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Tronox Holdings plc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Tronox Holdings plc reported revenue of $3.1B, 3.7% higher than a year earlier, according to its SEC filings.
What is Tronox Holdings plc's free cash flow?
Tronox Holdings plc's free-cash-flow margin is -5.2% of revenue over the trailing twelve months, ranking 12 of the 13 commodity chemicals companies we cover.
Who are Tronox Holdings plc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Van Eck Associates Corp and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Tronox Holdings plc's market cap?
On November 2, 2026, Tronox Holdings plc's market capitalisation was about $550M and net debt of $3.1B. Market figures come from third-party market data and may be delayed.
Does Tronox Holdings plc pay a dividend?
Yes: Tronox Holdings plc paid $44M in dividends over the trailing twelve months, a dividend yield of 7.96%.
How much debt does Tronox Holdings plc have?
Tronox Holdings plc's debt-to-equity ratio is 272.4%, from its latest balance sheet (128.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Tronox Holdings plc's competitors?
In our Commodity Chemicals peer group, the companies closest to Tronox Holdings plc are Methanex Corp, Valhi Inc, Kronos Worldwide Inc, Koppers Holdings Inc. and Orion S.a. The side-by-side comparison below sets their revenue, margins and growth against Tronox Holdings plc's.
Are insiders buying or selling Tronox Holdings plc stock?
Over the last 12 months, Tronox Holdings plc's directors and officers reported 0 open-market purchases and 7 sales on Form 4. The insider trading page charts every trade.
When is Tronox Holdings plc's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Tronox Holdings plc announces its own schedule.