TROX
Basic MaterialsTronox Holdings plc · Chemicals · $1B
What is Tronox Holdings plc?
Tronox Holdings plc is a vertically integrated producer of titanium dioxide pigment with operations spanning multiple continents. Headquartered in Stamford, Connecticut, the company controls its supply chain from mineral sand mining through finished pigment production.
Tronox generates revenue by mining titanium-bearing mineral sands, processing them through beneficiation and smelting, and selling finished TiO2 pigment alongside co-products. TiO2 is a white pigment essential to paints, coatings, plastics, and paper. The company's vertical integration — owning mines, processing facilities, and pigment plants — gives it direct control over raw material costs. Revenue is geographically diversified across North America, Europe, the Middle East, Africa, and the Asia Pacific.
Tronox was established in 2010 and is headquartered in Stamford, Connecticut.
- TiO2 pigment for paints, coatings, and plastics
- Ultrafine specialty TiO2 for advanced applications
- Zircon mineral co-product
- Titanium tetrachloride feedstock
- Pig iron as a smelting by-product
Is TROX a Good Stock to Buy?
UQS Score rates TROX as Poor overall, reflecting broad weakness across all five evaluation pillars.
Among the five pillars, none currently stands out as a relative strength for Tronox. The company's vertical integration does provide some operational logic — controlling the supply chain from mine to market reduces dependence on third-party feedstock suppliers — but this structural feature has not translated into pillar-level scores that distinguish TROX from peers.
Quality, Moat, Growth, and Risk all carry Weak ratings, while Valuation is flagged as Elevated — a combination that signals the stock may be priced above what its fundamentals currently justify.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does TROX pay dividends?
Yes — Tronox Holdings plc pays a dividend.
Tronox pays a regular dividend, which may appeal to income-oriented investors in the basic materials sector. However, given the Weak Quality and Risk ratings, prospective dividend investors should assess the sustainability of those payments carefully. Cyclical commodity producers can face pressure on dividend coverage during industry downturns, making the full financial analysis available to Pro members especially relevant here.
When does TROX report earnings?
Tronox reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
The company's recent results reflect the challenging environment facing TiO2 producers, including demand softness in end markets like paints and coatings. Weak Growth and Quality pillar ratings suggest performance has lagged expectations relative to sector peers.
For the most recent quarter's results and guidance, visit Tronox's investor relations page directly.
TROX Price History
-50.6% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Tronox Holdings plc?
Based on Tronox Holdings plc's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
TROX Long-term Outlook
The fundamental outlook for Tronox is cautious. Weak Growth and Risk pillar ratings indicate limited near-term earnings momentum and above-average financial vulnerability. An Elevated Valuation rating adds further concern, as the stock does not appear to offer a margin of safety relative to its current fundamental profile. Any recovery would likely depend on a broad TiO2 demand cycle turning positive — a macro-driven catalyst rather than company-specific execution.
Growth drivers
- A cyclical recovery in global paints and coatings demand
- Vertical integration benefits if feedstock costs decline
- Potential volume growth in Asia Pacific and emerging markets
Key risks
- Sustained weakness in TiO2 pricing and end-market demand
- High financial risk reflected in the Weak Risk pillar rating
- Elevated valuation leaving limited buffer against further earnings pressure
TROX vs Peers
Tronox competes broadly within the specialty chemicals and basic materials space alongside companies that serve overlapping industrial end markets.
Braskem focuses on petrochemical resins rather than TiO2 pigment, giving it exposure to different commodity cycles and feedstock dynamics.
LSB Industries concentrates on nitrogen-based chemical products, serving agricultural and industrial markets distinct from Tronox's pigment focus.
Huntsman is a diversified specialty chemical producer with a broader product portfolio, offering investors more end-market diversification than Tronox's TiO2-centric model.
Frequently Asked Questions
What does Tronox do?
Tronox Holdings is a vertically integrated manufacturer of titanium dioxide pigment. The company mines titanium-bearing mineral sands, processes them through smelting and beneficiation, and sells TiO2 pigment used in paints, coatings, plastics, and paper. It also produces co-products including zircon, pig iron, and titanium tetrachloride.
Does TROX pay dividends?
Yes, Tronox pays a regular dividend. Income investors should note that the company carries Weak Quality and Risk ratings, which raises questions about dividend sustainability through commodity downturns. Pro members can access the full financial breakdown to assess coverage more thoroughly.
When does TROX report earnings?
Tronox reports on a quarterly cadence, as is standard for US-listed companies. The company does not pre-announce specific dates far in advance. For the most current earnings schedule, check Tronox's official investor relations page.
Is TROX a good stock to buy?
UQS Score rates TROX as Poor, with Weak ratings across Quality, Moat, Growth, and Risk, and an Elevated Valuation. This combination suggests the stock carries meaningful fundamental risk relative to its current price. The complete pillar breakdown is available to Pro members.
Is TROX overvalued?
The UQS Valuation pillar for TROX is rated Elevated, indicating the stock may be priced above what its current fundamentals support. For a commodity-linked business with Weak Quality and Growth ratings, an elevated valuation leaves limited room for error.
How does TROX compare to its competitors?
Compared to peers like Huntsman Corporation, Braskem, and LSB Industries, Tronox is more narrowly focused on TiO2 pigment. Its vertical integration is a structural differentiator, but the Poor overall UQS Score suggests it currently lags on key quality and risk dimensions relative to the broader sector.
What is TROX's market cap bracket?
Tronox is classified as a small-cap company. This places it below large-cap chemical peers in terms of market size, which can mean lower liquidity and greater sensitivity to sector-wide commodity swings.
Who founded Tronox?
Tronox Holdings was established in 2010 following a restructuring of the former Tronox Incorporated, which had roots in Kerr-McGee Corporation's chemical operations. Founding and corporate history details are widely available through public filings and the company's investor relations materials.
Is TROX a long-term quality investment?
As a long-term quality indicator, TROX currently scores Poor on the UQS framework. Weak Moat and Quality ratings suggest the business lacks durable competitive advantages that typically underpin long-term compounding. Investors focused on quality-driven long-term holdings may find stronger candidates in the [Basic Materials sector](/sector/basic-materials).
What is the main competitive advantage of Tronox?
Tronox's primary structural advantage is vertical integration — owning mineral sand mines through to finished TiO2 pigment production. This reduces reliance on external feedstock suppliers. However, the Weak Moat rating suggests this integration has not yet translated into a durable pricing or cost advantage relative to peers.
What sector does TROX belong to?
Tronox operates in the Basic Materials sector, specifically within specialty and commodity chemicals. The sector is cyclical, with performance closely tied to industrial demand, commodity pricing, and global construction and manufacturing activity.
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Pro Analysis
TROX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 23, 2026 | 32.9 | 2.2 | 10.0 | 31.3 | 64.8 | 92.2 | +19.2 |
| May 10, 2026 | 13.7 | 0.0 | 10.0 | 28.1 | 36.9 | 0.0 | +0.5 |
| May 8, 2026 | 13.2 | 0.0 | 10.0 | 25.8 | 36.9 | 0.0 | +2.3 |
| May 1, 2026 | 10.9 | 2.2 | 10.0 | 25.5 | 18.4 | 0.0 | -0.1 |
| Apr 15, 2026 | 11.0 | 2.2 | 10.0 | 25.9 | 18.4 | 0.0 | +0.1 |
| Apr 11, 2026 | 10.9 | 2.2 | 10.0 | 25.4 | 18.4 | 0.0 | 0.0 |
| Apr 9, 2026 | 10.9 | 2.2 | 10.0 | 25.1 | 18.4 | 0.0 | +0.6 |
| Apr 2, 2026 | 10.3 | 2.2 | 10.0 | 22.4 | 18.4 | 0.0 | — |
TROX — Pillar Breakdown
Quality
— 2.2/100 (25%)Tronox Holdings plc currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 31.3/100 (20%)Tronox Holdings plc faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 64.8/100 (15%)Tronox Holdings plc maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 92.5/100 (15%)Tronox Holdings plc appears attractively valued relative to its earnings, cash flows, and sector peers.
Enterprise value multiple relative to sector median.
Moat
— 10/100 (25%)Tronox Holdings plc operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for TROX.
Score Composition
Financial Data
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How is the TROX UQS Score Calculated?
The UQS (Unified Quality Score) for Tronox Holdings plc is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Tronox Holdings plc's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Tronox Holdings plc is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.