This page shows Tronox Holdings Plc (TROX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Tronox Holdings Plc has an operating margin of -8.7%, meaning the company retains $-9 of operating profit per $100 of revenue. This below-average margin results in a low score of 3/100, suggesting thin profitability after operating expenses. This is down from 7.1% the prior year.
Tronox Holdings Plc's revenue declined 5.7% year-over-year, from $3.1B to $2.9B. This contraction results in a growth score of 24/100.
Tronox Holdings Plc has a moderate D/E ratio of 2.21. This balance of debt and equity financing earns a leverage score of 57/100.
Tronox Holdings Plc's current ratio of 2.46 indicates adequate short-term liquidity, earning a score of 46/100. The company can meet its near-term obligations, though with limited headroom.
While Tronox Holdings Plc generated $60.0M in operating cash flow, capex of $341.0M consumed most of it, leaving -$281.0M in free cash flow. This results in a low score of 1/100, reflecting heavy capital investment rather than weak cash generation.
Tronox Holdings Plc generates a -33.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -2.7% the prior year.
Tronox Holdings Plc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Tronox Holdings Plc generates $-0.13 in operating cash flow ($60.0M OCF vs -$470.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Tronox Holdings Plc earns $-1.4 in operating income for every $1 of interest expense (-$253.0M vs $185.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Tronox Holdings Plc generated $2.9B in revenue in fiscal year 2025. This represents a decrease of 5.7% from the prior year.
Tronox Holdings Plc's EBITDA was $49.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 90.3% from the prior year.
Tronox Holdings Plc reported -$470.0M in net income in fiscal year 2025. This represents a decrease of 879.2% from the prior year.
Tronox Holdings Plc earned $-2.97 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 858.1% from the prior year.
Cash & Balance Sheet
Tronox Holdings Plc generated -$281.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 301.4% from the prior year.
Tronox Holdings Plc held $199.0M in cash against $3.1B in long-term debt as of fiscal year 2025.
Tronox Holdings Plc paid $0.35 per share in dividends in fiscal year 2025. This represents a decrease of 30.0% from the prior year.
Tronox Holdings Plc had 159M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.
Margins & Returns
Tronox Holdings Plc's gross margin was 9.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 7.5 percentage points from the prior year.
Tronox Holdings Plc's operating margin was -8.7% in fiscal year 2025, reflecting core business profitability. This is down 15.8 percentage points from the prior year.
Tronox Holdings Plc's net profit margin was -16.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 14.7 percentage points from the prior year.
Tronox Holdings Plc's ROE was -33.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 30.4 percentage points from the prior year.
Capital Allocation
Tronox Holdings Plc invested $15.0M in research and development in fiscal year 2025. This represents an increase of 7.1% from the prior year.
Tronox Holdings Plc invested $341.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 7.8% from the prior year.
TROX Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $730.0M+4.4% | $699.0M-4.4% | $731.0M-0.9% | $738.0M+9.2% | $676.0M-15.9% | $804.0M-2.0% | $820.0M+5.9% | $774.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | $39.0M-25.0% | $52.0M-34.2% | $79.0M-20.2% | $99.0M-15.4% | $117.0M-8.6% | $128.0M-14.7% | $150.0M+25.0% | $120.0M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $74.0M+5.7% | $70.0M-2.8% | $72.0M-2.7% | $74.0M+7.2% | $69.0M-6.8% | $74.0M0.0% | $74.0M-6.3% | $79.0M |
| Operating Income | -$114.0M-165.1% | -$43.0M-22.9% | -$35.0M+42.6% | -$61.0M-227.1% | $48.0M-11.1% | $54.0M-28.9% | $76.0M+85.4% | $41.0M |
| Interest Expense | $50.0M+4.2% | $48.0M+6.7% | $45.0M+7.1% | $42.0M0.0% | $42.0M0.0% | $42.0M0.0% | $42.0M0.0% | $42.0M |
| Income Tax | -$2.0M-125.0% | $8.0M+100.0% | $4.0M-20.0% | $5.0M-88.9% | $45.0M+73.1% | $26.0M-42.2% | $45.0M+309.1% | $11.0M |
| Net Income | -$176.0M-77.8% | -$99.0M-17.9% | -$84.0M+24.3% | -$111.0M-270.0% | -$30.0M-20.0% | -$25.0M-256.3% | $16.0M+277.8% | -$9.0M |
| EPS (Diluted) | N/A | $-0.63-18.9% | $-0.53+24.3% | $-0.70 | N/A | $-0.16-260.0% | $0.10+266.7% | $-0.06 |
TROX Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.2B-1.4% | $6.3B+1.9% | $6.2B+1.9% | $6.1B+0.5% | $6.0B-2.5% | $6.2B+1.6% | $6.1B+1.2% | $6.0B |
| Current Assets | $2.3B-1.9% | $2.3B+3.1% | $2.2B+2.1% | $2.2B+1.8% | $2.2B-2.9% | $2.2B-0.3% | $2.2B+3.1% | $2.2B |
| Cash & Equivalents | $199.0M+7.6% | $185.0M+40.2% | $132.0M-4.3% | $138.0M-8.6% | $151.0M-9.6% | $167.0M-16.9% | $201.0M+32.2% | $152.0M |
| Inventory | $1.7B-2.1% | $1.7B+0.2% | $1.7B+5.0% | $1.6B+3.5% | $1.6B+4.7% | $1.5B+4.1% | $1.4B+1.5% | $1.4B |
| Accounts Receivable | $289.0M-4.0% | $301.0M+2.4% | $294.0M-7.8% | $319.0M+19.9% | $266.0M-28.7% | $373.0M-2.4% | $382.0M+1.1% | $378.0M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $4.8B+1.2% | $4.7B+4.5% | $4.5B+3.3% | $4.4B+2.7% | $4.2B0.0% | $4.2B+1.9% | $4.2B+1.7% | $4.1B |
| Current Liabilities | $919.0M+8.5% | $847.0M-20.7% | $1.1B+11.1% | $961.0M+10.0% | $874.0M+7.0% | $817.0M+9.5% | $746.0M+8.0% | $691.0M |
| Long-Term Debt | $3.1B-0.1% | $3.1B+14.1% | $2.7B-0.1% | $2.8B-0.2% | $2.8B-0.3% | $2.8B-0.5% | $2.8B0.0% | $2.8B |
| Total Equity | $1.4B-9.2% | $1.6B-5.2% | $1.6B-1.7% | $1.7B-4.9% | $1.8B-7.9% | $1.9B+0.8% | $1.9B+0.9% | $1.9B |
| Retained Earnings | $30.0M-85.9% | $213.0M-33.6% | $321.0M-24.5% | $425.0M-23.4% | $555.0M-8.4% | $606.0M-6.9% | $651.0M-0.6% | $655.0M |
TROX Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $121.0M+312.3% | -$57.0M-303.6% | $28.0M+187.5% | -$32.0M-139.0% | $82.0M-5.7% | $87.0M-45.6% | $160.0M+651.7% | -$29.0M |
| Capital Expenditures | $68.0M-15.0% | $80.0M-3.6% | $83.0M-24.5% | $110.0M-6.0% | $117.0M+15.8% | $101.0M+32.9% | $76.0M0.0% | $76.0M |
| Free Cash Flow | $53.0M+138.7% | -$137.0M-149.1% | -$55.0M+61.3% | -$142.0M-305.7% | -$35.0M-150.0% | -$14.0M-116.7% | $84.0M+180.0% | -$105.0M |
| Investing Cash Flow | -$73.0M+7.6% | -$79.0M+2.5% | -$81.0M+14.7% | -$95.0M+18.8% | -$117.0M-30.0% | -$90.0M-50.0% | -$60.0M+21.1% | -$76.0M |
| Financing Cash Flow | -$24.0M-112.7% | $189.0M+293.8% | $48.0M-55.6% | $108.0M+315.4% | $26.0M+176.5% | -$34.0M+33.3% | -$51.0M-325.0% | -$12.0M |
| Dividends Paid | $8.0M-60.0% | $20.0M0.0% | $20.0M | $0-100.0% | $19.0M-5.0% | $20.0M-50.0% | $40.0M+3900.0% | $1.0M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
TROX Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 5.3%-2.1pp | 7.4%-3.4pp | 10.8%-2.6pp | 13.4%-3.9pp | 17.3%+1.4pp | 15.9%-2.4pp | 18.3%+2.8pp | 15.5% |
| Operating Margin | -15.6%-9.5pp | -6.2%-1.4pp | -4.8%+3.5pp | -8.3%-15.4pp | 7.1%+0.4pp | 6.7%-2.6pp | 9.3%+4.0pp | 5.3% |
| Net Margin | -24.1%-10.0pp | -14.2%-2.7pp | -11.5%+3.6pp | -15.0%-10.6pp | -4.4%-1.3pp | -3.1%-5.1pp | 1.9%+3.1pp | -1.2% |
| Return on Equity | -12.4%-6.1pp | -6.3%-1.2pp | -5.1%+1.5pp | -6.6%-4.9pp | -1.7%-0.4pp | -1.3%-2.1pp | 0.8%+1.3pp | -0.5% |
| Return on Assets | -2.8%-1.3pp | -1.6%-0.2pp | -1.4%+0.5pp | -1.8%-1.3pp | -0.5%-0.1pp | -0.4%-0.7pp | 0.3%+0.4pp | -0.1% |
| Current Ratio | 2.46-0.3 | 2.72+0.6 | 2.10-0.2 | 2.28-0.2 | 2.47-0.3 | 2.72-0.3 | 2.98-0.1 | 3.12 |
| Debt-to-Equity | 2.21+0.2 | 2.01+0.3 | 1.67+0.0 | 1.64+0.1 | 1.57+0.1 | 1.45-0.0 | 1.47-0.0 | 1.48 |
| FCF Margin | 7.3%+26.9pp | -19.6%-12.1pp | -7.5%+11.7pp | -19.2%-14.1pp | -5.2%-3.4pp | -1.7%-12.0pp | 10.2%+23.8pp | -13.6% |
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Frequently Asked Questions
What is Tronox Holdings Plc's annual revenue?
Tronox Holdings Plc (TROX) reported $2.9B in total revenue for fiscal year 2025. This represents a -5.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Tronox Holdings Plc's revenue growing?
Tronox Holdings Plc (TROX) revenue declined by 5.7% year-over-year, from $3.1B to $2.9B in fiscal year 2025.
Is Tronox Holdings Plc profitable?
No, Tronox Holdings Plc (TROX) reported a net income of -$470.0M in fiscal year 2025, with a net profit margin of -16.2%.
What is Tronox Holdings Plc's EBITDA?
Tronox Holdings Plc (TROX) had EBITDA of $49.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Tronox Holdings Plc have?
As of fiscal year 2025, Tronox Holdings Plc (TROX) had $199.0M in cash and equivalents against $3.1B in long-term debt.
What is Tronox Holdings Plc's gross margin?
Tronox Holdings Plc (TROX) had a gross margin of 9.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Tronox Holdings Plc's operating margin?
Tronox Holdings Plc (TROX) had an operating margin of -8.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Tronox Holdings Plc's net profit margin?
Tronox Holdings Plc (TROX) had a net profit margin of -16.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Tronox Holdings Plc pay dividends?
Yes, Tronox Holdings Plc (TROX) paid $0.35 per share in dividends during fiscal year 2025.
What is Tronox Holdings Plc's return on equity (ROE)?
Tronox Holdings Plc (TROX) has a return on equity of -33.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tronox Holdings Plc's free cash flow?
Tronox Holdings Plc (TROX) generated -$281.0M in free cash flow during fiscal year 2025. This represents a -301.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Tronox Holdings Plc's operating cash flow?
Tronox Holdings Plc (TROX) generated $60.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Tronox Holdings Plc's total assets?
Tronox Holdings Plc (TROX) had $6.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tronox Holdings Plc's capital expenditures?
Tronox Holdings Plc (TROX) invested $341.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tronox Holdings Plc spend on research and development?
Tronox Holdings Plc (TROX) invested $15.0M in research and development during fiscal year 2025.
What is Tronox Holdings Plc's current ratio?
Tronox Holdings Plc (TROX) had a current ratio of 2.46 as of fiscal year 2025, which is generally considered healthy.
What is Tronox Holdings Plc's debt-to-equity ratio?
Tronox Holdings Plc (TROX) had a debt-to-equity ratio of 2.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Tronox Holdings Plc's return on assets (ROA)?
Tronox Holdings Plc (TROX) had a return on assets of -7.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Tronox Holdings Plc's Piotroski F-Score?
Tronox Holdings Plc (TROX) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Tronox Holdings Plc's earnings high quality?
Tronox Holdings Plc (TROX) has an earnings quality ratio of -0.13x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Tronox Holdings Plc cover its interest payments?
Tronox Holdings Plc (TROX) has an interest coverage ratio of -1.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Tronox Holdings Plc?
Tronox Holdings Plc (TROX) scores 22 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.