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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 | -33.1% | -5.7% | 879.2% |
| 2024 | $3.1B | $515M | $-48M | $-70M | -2.7% | 7.9% | -84.8% |
| 2023 | $2.9B | $473M | $-316M | $-77M | -16.3% | -17.5% | -163.6% |
| 2022 | $3.5B | $694M | $497M | $170M | 21.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 3,454 | 2,850 | 3,074 | 2,898 |
| Operating 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 |
| Selling General And Administration | - | 289 | 276 | 296 | 290 |
| Total Expenses | - | 2,911 | 2,664 | 2,855 | 2,919 |
| Operating Income | - | 543 | 186 | 219 | -21 |
| Total Operating Income As Reported | - | 458 | 186 | 219 | -253 |
| EBITDA | - | 694 | 473 | 515 | 21 |
| Normalized EBITDA | - | 803 | 467 | 489 | 259 |
| EBIT | - | 425 | 198 | 230 | -281 |
| Interest Income | - | 9 | 18 | 10 | 6 |
| Interest Expense | - | 117 | 149 | 157 | 177 |
| Net Interest Income | - | -116 | -140 | -157 | -183 |
| Other Non Operating Income Expenses | - | -10 | -3 | -15 | -16 |
| Other Income Expense | - | -119 | 3 | 11 | -254 |
| Interest Income Non Operating | - | 9 | 18 | 10 | 6 |
| Interest Expense Non Operating | - | 117 | 149 | 157 | 177 |
| Net Non Operating Interest Income Expense | - | -116 | -140 | -157 | -183 |
| Pretax Income | - | 308 | 49 | 73 | -458 |
| Tax Provision | - | -192 | 363 | 127 | 15 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -22.89 | 1.26 | 5.46 | -49.98 |
| Net Income Continuous Operations | - | 500 | -314 | -54 | -473 |
| Net Income From Continuing And Discontinued Operation | - | 497 | -316 | -48 | -470 |
| Net Income From Continuing Operation Net Minority Interest | - | 497 | -316 | -48 | -470 |
| Net Income | - | 497 | -316 | -48 | -470 |
| Net Income Common Stockholders | - | 497 | -316 | -48 | -470 |
| Net Income Including Noncontrolling Interests | - | 500 | -314 | -54 | -473 |
| Normalized Income | - | 583.11 | -320.74 | -68.54 | -281.98 |
| Diluted NI Availto Com Stockholders | - | 497 | -316 | -48 | -470 |
| Basic Average Shares | - | 154.87 | 156.40 | 157.82 | 158.48 |
| Diluted Average Shares | - | 157.11 | 156.40 | 157.82 | 158.48 |
| Reconciled Depreciation | - | 269 | 275 | 285 | 302 |
| Reconciled Cost Of Revenue | - | 2,622 | 2,388 | 2,559 | 2,629 |
| Total Unusual Items | - | -109 | 6 | 26 | -238 |
| Total Unusual Items Excluding Goodwill | - | -109 | 6 | 26 | -238 |
| Minority Interests | - | -3 | -2 | 6 | 3 |
| Net Income Discontinuous Operations | 0 | - | - | - | - |
| Special Income Charges | - | -106 | 0 | 25 | -232 |
| Other Special Charges | 65 | 106 | - | 3 | - |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 0 | 232 |
| Gain On Sale Of Security | - | -3 | 6 | 1 | -6 |
| General And Administrative Expense | 318 | 289 | 276 | - | - |
| Other Gand A | 318 | 289 | 276 | - | - |
| Salaries And Wages | -5 | 16 | 0 | - | - |
| Gain On Sale Of Ppe | - | 0 | 0 | 28 | 0 |
| Total Other Finance Cost | - | 8 | 9 | 10 | 12 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Tronox Holdings plcthis co. | TROX | $1.2B | -2.65 | 0.88 | -33.1% | 211.38 |
| Ecovyst Inc. | ECVT | $1.4B | -19.90 | 2.35 | -11.8% | 11.90 |
| Compass Minerals International, Inc. | CMP | $1.3B | -16.49 | 5.62 | -34.1% | 17.83 |
| United States Antimony Corporation | UAMY | $1.3B | -295.38 | 9.09 | -3.1% | -162.31 |
| Oil-Dri Corporation of America | ODC | $1.2B |
| - |
| - |
| - |
| - |
| - |
| 32.68 |
| 5.78 |
| 17.7% |
| 17.88 |
| NWPX Infrastructure, Inc. | NWPX | $1.2B | 33.37 | 2.99 | 9.0% | 18.71 |
| Stepan Company | SCL | $1.2B | 24.97 | 0.94 | 3.8% | 8.08 |
| Ramaco Resources, Inc. | METC | $1.1B | - | 2.30 | -10.6% | 82.52 |
| Green Plains Inc. | GPRE | $1.1B | -8.71 | 1.38 | -15.8% | 42.51 |
| Peer Median | - | -8.71 | 2.67 | -6.9% | 17.86 | |