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Tronox 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; high purity pig iron; monazite; feedstock; and titanium tetrachloride 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 was incorporated in 2018 and is based in Stamford, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.9B | $21M | $-470M | $-281M | -32.4% | -5.7% | - |
| 2024 | $3.1B | $515M | $-48M | $-70M | -2.7% | 7.9% | - |
| 2023 | $2.9B | $473M | $-316M | $-77M | -16.0% | -17.5% | -163.6% |
| 2022 | $3.5B | $694M | $497M | $170M | 20.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 3,454 | 2,850 | 3,074 | 2,898 |
| Cost Of Revenue | 2,622 | 2,388 | 2,559 | 2,629 |
| Gross Profit | 832 | 462 | 515 | 269 |
| Operating Expense | 289 | 276 | 296 | 290 |
| Operating Income | 543 | 186 | 219 | -21 |
| EBITDA | 694 | 473 | 515 | 21 |
| EBIT | 425 | 198 | 230 | -281 |
| Pretax Income | 308 | 49 | 73 | -458 |
| Tax Provision | -192 | 363 | 127 | 15 |
| Net Income | 497 | -316 | -48 | -470 |
| Net Income Common Stockholders | 497 | -316 | -48 | -470 |
| Total Expenses | 2,911 | 2,664 | 2,855 | 2,919 |
| Interest Expense | 117 | 149 | 157 | 177 |
| Interest Income | 9 | 18 | 10 | 6 |
| Selling General And Administration | 289 | 276 | 296 | 290 |
| Normalized EBITDA | 803 | 467 | 489 | 259 |
| Normalized Income | 583.11 | -320.74 | -68.54 | -281.98 |
| Basic EPS | 3.21 | -2.02 | -0.31 | 0 |
| Diluted EPS | 3.16 | -2.02 | -0.31 | 0 |
| Tax Effect Of Unusual Items | -22.89 | 1.26 | 5.46 | -49.98 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -109 | 6 | 26 | -238 |
| Total Unusual Items Excluding Goodwill | -109 | 6 | 26 | -238 |
| Net Income From Continuing Operation Net Minority Interest | 497 | -316 | -48 | -470 |
| Reconciled Depreciation | 269 | 275 | 285 | 302 |
| Reconciled Cost Of Revenue | 2,622 | 2,388 | 2,559 | 2,629 |
| Net Interest Income | -116 | -140 | -157 | -183 |
| Net Income From Continuing And Discontinued Operation | 497 | -316 | -48 | -470 |
| Total Operating Income As Reported | 458 | 186 | 219 | -253 |
| Diluted Average Shares | 157.11 | 156.40 | 157.82 | 0 |
| Basic Average Shares | 154.87 | 156.40 | 157.82 | 0 |
| Diluted NI Availto Com Stockholders | 497 | -316 | -48 | -470 |
| Minority Interests | -3 | -2 | 6 | 3 |
| Net Income Including Noncontrolling Interests | 500 | -314 | -54 | -473 |
| Net Income Discontinuous Operations | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | 500 | -314 | -54 | -473 |
| Other Income Expense | -119 | 3 | 11 | -254 |
| Other Non Operating Income Expenses | -10 | -3 | -15 | -16 |
| Special Income Charges | -106 | 0 | 25 | -232 |
| Gain On Sale Of Ppe | 0 | 0 | 28 | 0 |
| Other Special Charges | 106 | 0 | 3 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 0 | 232 |
| Gain On Sale Of Security | -3 | 6 | 1 | -6 |
| Net Non Operating Interest Income Expense | -116 | -140 | -157 | -183 |
| Total Other Finance Cost | 8 | 9 | 10 | 12 |
| Interest Expense Non Operating | 117 | 149 | 157 | 177 |
| Interest Income Non Operating | 9 | 18 | 10 | 6 |
| General And Administrative Expense | 289 | 276 | 0 | 0 |
| Other Gand A | 289 | 276 | 0 | 0 |
| Salaries And Wages | 16 | 0 | 0 | 0 |
| Operating Revenue | 3,454 | 2,850 | 3,074 | 2,898 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tronox Holdings plcthis co. | TROX | $1.5B | - | 1.08 | -32.4% | 17.20 |
| Innospec Inc. | IOSP | $1.9B | 16.47 | 1.45 | 8.8% | 8.41 |
| Worthington Steel, Inc. | WS | $1.9B | 17.32 | 1.79 | 10.3% | 9.53 |
| Sylvamo Corporation | SLVM | $1.7B | 12.40 | 1.69 | 13.7% | - |
| Ecovyst Inc. | ECVT | $1.5B | 279.40 | 2.59 |
| -11.8% |
| 11.58 |
| Critical Metals Corp. | CRML | $1.5B | - | 9.60 | - | -25.14 |
| United States Antimony Corporation | UAMY | $1.4B | - | 9.90 | -3.1% | -182.70 |
| Green Plains Inc. | GPRE | $1.2B | - | 1.57 | -15.7% | 41.60 |
| Stepan Company | SCL | $1.2B | 25.19 | 0.95 | 3.8% | 8.13 |
| Peer Median | - | 17.32 | 1.74 | 3.8% | 8.41 | |