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Tronox Holdings plc (TROX) Fundamental Analysis & AI Grade 2026

TROX NYSE Industrial Inorganic Chemicals X0 CIK: 0001530804
Updated This Month • Analysis: May 8, 2026 • SEC Data: 2026-03-31
Combined AI Grade
D
98% Confidence
N/A
D
98% Conf
Pending
Analysis scheduled

📊 TROX Key Takeaways

Revenue: $760.0M
Net Margin: -13.6%
Free Cash Flow: $-135.0M
Current Ratio: 2.42x
Debt/Equity: 2.42x
EPS: $-0.65
AI Grade: D with 98% confidence
Tronox Holdings plc (TROX) receives a D fundamental grade with 98% confidence from our AI analysis based on SEC 10-K filings. With revenue of $760.0M, net profit margin of -13.6%, and return on equity (ROE) of -8.0%, Tronox Holdings plc demonstrates mixed fundamentals in the Materials sector. Below is our complete TROX stock analysis for 2026.

Is Tronox Holdings plc (TROX) a Good Investment?

Claude

Tronox is in severe financial distress with negative operating cash flow (-$68M), unsustainable free cash flow burn (-$135M), and an inability to service $3.1B debt from operations (negative -0.2x interest coverage). The company lost $103M on declining revenues with razor-thin 5.8% gross margins, eroding shareholder equity at an ROE of -8.0%.

Tronox Holdings plc Key Strengths (TROX)

Claude
  • + Current ratio of 2.42x provides near-term liquidity buffer
  • + Established industrial chemicals market position with $6.1B asset base
  • + Modest insider trading activity (18 Form 4 filings) may indicate confidence

TROX Stock Risks: Tronox Holdings plc Investment Risks

Claude
  • ! Operating cash flow negative (-$68M) with unsustainable free cash flow burn (-$135M annually)
  • ! Debt/Equity of 2.42x ($3.1B debt) with -0.2x interest coverage—operationally insolvent on debt service
  • ! Negative operating margin (-5.4%) and net margin (-13.6%) destroying value; $103M loss on declining $760M revenue
  • ! Liquidity crisis within 12 months at current burn rate ($135M FCF burn vs. $126M cash on hand)
  • ! Commodity-exposed sector with weak pricing power evidenced by 5.8% gross margin

Key Metrics to Watch

Claude
  • * Operating cash flow (must return to positive)
  • * Gross margin expansion (currently unviable at 5.8%)
  • * Debt refinancing ability and covenant compliance status
  • * Revenue trajectory (currently -5.7% YoY)
  • * Interest coverage ratio (currently negative)

Tronox Holdings plc (TROX) Financial Metrics & Key Ratios

Revenue
$760.0M
Net Income
$-103.0M
EPS (Diluted)
$-0.65
Free Cash Flow
$-135.0M
Total Assets
$6.1B
Cash Position
$126.0M

💡 AI Analyst Insight

Strong liquidity with a 2.42x current ratio provides a solid financial cushion.

TROX Profit Margin, ROE & Profitability Analysis

Gross Margin 5.8%
Operating Margin -5.4%
Net Margin -13.6%
ROE -8.0%
ROA -1.7%
FCF Margin -17.8%

TROX vs Materials Sector: How Tronox Holdings plc Compares

How Tronox Holdings plc compares to Materials sector averages

Net Margin
TROX -13.6%
vs
Sector Avg 10.0%
TROX Sector
ROE
TROX -8.0%
vs
Sector Avg 14.0%
TROX Sector
Current Ratio
TROX 2.4x
vs
Sector Avg 1.6x
TROX Sector
Debt/Equity
TROX 2.4x
vs
Sector Avg 0.6x
TROX Sector

Sector benchmarks are approximate industry averages. Actual sector performance may vary.

Is Tronox Holdings plc Stock Overvalued? TROX Valuation Analysis 2026

Based on fundamental analysis, Tronox Holdings plc shows some fundamental concerns relative to the Materials sector in 2026.

Return on Equity
-8.0%
Sector avg: 14%
Net Profit Margin
-13.6%
Sector avg: 10%
Revenue Growth
N/A
Year-over-year
Debt/Equity
2.42x
Sector avg: 0.6x

Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.

Tronox Holdings plc Balance Sheet: TROX Debt, Cash & Liquidity

Current Ratio
2.42x
Quick Ratio
0.66x
Debt/Equity
2.42x
Debt/Assets
78.2%
Interest Coverage
-0.22x
Long-term Debt
$3.1B

TROX Revenue & Earnings Growth: 5-Year Financial Trend

TROX 5-year financial data: Year 2021: Revenue $3.6B, Net Income -$109.0M, EPS $-0.78. Year 2022: Revenue $3.6B, Net Income $969.0M, EPS $6.69. Year 2023: Revenue $3.6B, Net Income $286.0M, EPS $1.81. Year 2024: Revenue $3.5B, Net Income $497.0M, EPS $3.16. Year 2025: Revenue $3.1B, Net Income -$316.0M, EPS $-2.02.
Revenue
Net Income
EPS (right axis)

5-Year Trend Summary: Tronox Holdings plc's revenue has declined by 14% over the 5-year period, indicating business contraction. The most recent EPS of $-2.02 indicates the company is currently unprofitable.

TROX Revenue Growth, EPS Growth & YoY Performance

Revenue Growth
N/A
Year-over-year
Net Income Growth
N/A
Year-over-year
EPS Growth
N/A
Earnings per share
FCF Margin
-17.8%
Free cash flow / Revenue

TROX Quarterly Earnings & Performance

Quarterly financial performance data for Tronox Holdings plc including revenue, net income, and earnings per share.
Quarter Revenue Net Income EPS
Q1 2026 $738.0M -$103.0M $-0.65
Q3 2025 $699.0M -$18.0M $-0.11
Q2 2025 $731.0M $7.0M $0.04
Q1 2025 $738.0M -$9.0M $-0.06
Q3 2024 $662.0M -$14.0M $-0.09
Q2 2024 $794.0M $7.0M $0.04
Q1 2024 $708.0M -$9.0M $-0.06
Q3 2023 $662.0M -$14.0M $-0.09

Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.

Tronox Holdings plc Dividends, Buybacks & Capital Allocation

Operating Cash Flow
-$68.0M
Cash generated from operations
Capital Expenditures
$67.0M
Investment in assets
Dividends Paid
$8.0M
Returned to shareholders

TROX SEC Filings: Latest 10-K & 10-Q Analysis

Access official SEC EDGAR filings for Tronox Holdings plc (CIK: 0001530804)

📋 Recent SEC Filings

Date Form Document Action
May 7, 2026 8-K ef20072648_8k.htm View →
May 7, 2026 10-Q trox-20260331.htm View →
Apr 30, 2026 4 xslF345X06/form4.xml View →
Apr 30, 2026 4 xslF345X06/form4.xml View →
Apr 30, 2026 4 xslF345X06/form4.xml View →

Frequently Asked Questions about TROX

What is the AI rating for TROX?

Tronox Holdings plc (TROX) has an AI grade of D with 98% confidence, based on fundamental analysis of SEC EDGAR filings.

What are TROX's key strengths?

Claude: Current ratio of 2.42x provides near-term liquidity buffer. Established industrial chemicals market position with $6.1B asset base.

What are the risks of investing in TROX?

Claude: Operating cash flow negative (-$68M) with unsustainable free cash flow burn (-$135M annually). Debt/Equity of 2.42x ($3.1B debt) with -0.2x interest coverage—operationally insolvent on debt service.

What is TROX's revenue and growth?

Tronox Holdings plc reported revenue of $760.0M.

Does TROX pay dividends?

Tronox Holdings plc pays dividends, with $8.0M distributed to shareholders in the trailing twelve months.

Where can I find TROX SEC filings?

Official SEC filings for Tronox Holdings plc (CIK: 0001530804) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.

What is TROX's EPS?

Tronox Holdings plc has a diluted EPS of $-0.65.

How is the AI analysis conducted?

Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.

What is TROX's fundamental grade?

Based on our AI fundamental analysis in June 2026, Tronox Holdings plc has a D grade with 98% confidence. Review the strengths and risks sections above for full context. This is not investment advice.

Is TROX stock overvalued or undervalued?

Valuation metrics for TROX: ROE of -8.0% (sector avg: 14%), net margin of -13.6% (sector avg: 10%). Compare these metrics with sector averages to assess valuation.

What is TROX's AI grade for 2026?

Our dual AI analysis gives Tronox Holdings plc a combined D grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.

What is TROX's free cash flow?

Tronox Holdings plc's operating cash flow is $-68.0M, with capital expenditures of $67.0M. FCF margin is -17.8%.

How does TROX compare to other Materials stocks?

Vs Materials sector averages: Net margin -13.6% (avg: 10%), ROE -8.0% (avg: 14%), current ratio 2.42 (avg: 1.6).

Is Tronox Holdings plc carrying too much debt?

TROX has a debt-to-equity ratio of 2.42x, which is above the Materials sector average of 0.6x. However, the current ratio of 2.42 suggests adequate short-term liquidity.

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Disclaimer: This analysis is generated by Claude AI (Anthropic) and ChatGPT (OpenAI) based on publicly available SEC EDGAR filings. It does not include stock price data and should not be considered financial advice. All fundamental data is sourced from SEC public domain filings. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.
Data Source: SEC EDGAR | Analysis Date: May 8, 2026 | Data as of: 2026-03-31 | Powered by Claude AI