Tronox Holdings plc (TROX) Key Metrics
TROX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $554.2M
- Enterprise value
- $3.93B
- P/E (TTM)
- — 10-yr median 4.3
- Forward P/E
- 21.8
- PEG ratio
- —
- Price / sales
- 0.2 10-yr median 0.6
- Price / book
- 0.6 10-yr median 1.2
- EV / EBITDA
- 60.4 10-yr median 9.7
- Dividend yield
- 5.76% $0.20 a year
- Beta
- 0.90
TROX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTROX valuation Price multiples at each fiscal year-end price.
Price / sales−55.7%
0.2
2025 · hover or tap a bar for each year
20162025
Price / book−48.4%
0.5
2025 · hover or tap a bar for each year
20162025
EV / EBITDA+734.6%
74.8
2025 · hover or tap a bar for each year
20162025
Free cash flow yield−38.1 pts
−42.5%
2025 · hover or tap a bar for each year
20162025
TROX returns How much profit the business earns on the capital it uses.
Return on equity−27.0 pts
−29.6%
2025 · hover or tap a bar for each year
20162025
Return on invested capital−2.9 pts
−0.5%
2025 · hover or tap a bar for each year
20162025
Return on assets−6.9 pts
−7.7%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−7.5 pts
−9.7%
2025 · hover or tap a bar for each year
20162025
Asset turnover−6.7%
0.47
2025 · hover or tap a bar for each year
20162025
TROX per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−6.5%
$18.22
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$2.97
2025 · hover or tap a bar for each year
20162025
Free cash flow per share
−$1.77
2025 · hover or tap a bar for each year
20162025
Book value per share−19.8%
$8.95
2025 · hover or tap a bar for each year
20162025
Dividends per share−40.3%
$0.30
2025 · hover or tap a bar for each year
20162025
Shares outstanding+0.4%
158.5M
2025 · hover or tap a bar for each year
20162025
TROX financial health Debt, liquidity and how easily interest is covered.
Debt / equity+49.1%
2.53
2025 · hover or tap a bar for each year
20162025
Net debt+$540.0M
$3.38B
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA+56.83
62.57
2025 · hover or tap a bar for each year
20162025
Current ratio0.0%
2.46
2025 · hover or tap a bar for each year
20162025
Interest coverage
-0.2
2025 · hover or tap a bar for each year
20162025
Debt / assets+16.6%
0.58
2025 · hover or tap a bar for each year
20162025
TROX efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+2 days
35 days
2025 · hover or tap a bar for each year
20162025
Days of inventory+8 days
220 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding−1 days
67 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+11 days
188 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue−0.2 pts
11.8%
2025 · hover or tap a bar for each year
20162025
TROX valuation history
Fiscal year-endToday10-year median
TROX returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TROX debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TROX cash returned to shareholders
DividendsBuybacksFree cash flow
TROX price vs earnings per share
Share price at year-endEPS (right axis)
TROX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $660.9M | $1.59B | $2.21B | $2.15B | $3.80B | $2.12B | $1.60B | $956.0M | $2.45B | $1.20B |
| Enterprise value | $4.04B | $4.43B | $4.89B | $4.66B | $6.22B | $4.87B | $4.42B | $3.08B | $4.48B | $4.00B |
| P/E ratio | — | — | — | 4.3 | 13.3 | 2.2 | — | — | — | — |
| Price / sales | 0.2 | 0.5 | 0.8 | 0.6 | 1.1 | 0.8 | 0.6 | 0.5 | 1.4 | 0.6 |
| Price / book | 0.5 | 0.9 | 1.1 | 0.9 | 1.9 | 1.2 | 2.1 | 1.4 | 3.0 | 1.2 |
| Price / free cash flow | — | — | — | 12.7 | 8.1 | 13.2 | 6.6 | 18.0 | 13.5 | 13.0 |
| Price / operating cash flow | 11.0 | 5.3 | 12.0 | 3.6 | 5.1 | 6.0 | 3.6 | 5.6 | 9.0 | 5.7 |
| EV / sales | 1.4 | 1.4 | 1.7 | 1.3 | 1.7 | 1.8 | 1.7 | 1.7 | 2.6 | 1.9 |
| EV / EBITDA | 74.8 | 9.0 | 10.3 | 6.5 | 7.4 | 8.0 | 11.2 | 7.1 | 15.6 | 40.9 |
| EV / free cash flow | — | — | — | 27.4 | 13.3 | 30.4 | 18.2 | 58.2 | 24.6 | 43.5 |
| Earnings yield | −71.1% | −3.0% | −14.3% | 23.1% | 7.5% | 45.7% | −6.8% | −0.7% | −11.6% | −5.1% |
| Free cash flow yield | −42.5% | −4.4% | −3.5% | 7.9% | 12.3% | 7.6% | 15.2% | 5.5% | 7.4% | 7.7% |
| Dividend yield | 7.3% | 5.0% | 4.0% | 4.0% | 1.7% | 1.9% | 1.7% | 2.4% | 0.9% | 3.8% |
| Shareholder yield (dividends + buybacks) | 7.3% | 5.1% | 4.0% | 6.4% | 1.7% | 2.0% | 19.7% | 3.0% | 1.4% | 3.9% |
| Share price at fiscal year-end | $4.17 | $10.07 | $14.16 | $13.71 | $24.03 | $14.62 | $11.42 | $7.78 | $20.51 | $10.31 |
| Per share | ||||||||||
| Revenue per share | $18.22 | $19.48 | $18.22 | $21.98 | $22.62 | $19.03 | $18.89 | $14.80 | $14.21 | $18.02 |
| Earnings per share | −$2.97 | −$0.30 | −$2.02 | $3.16 | $1.81 | $6.69 | −$0.78 | −$0.06 | −$2.38 | −$0.53 |
| Operating cash flow per share | $0.38 | $1.90 | $1.18 | $3.81 | $4.69 | $2.45 | $3.15 | $1.38 | $2.28 | $1.82 |
| Free cash flow per share | −$1.77 | −$0.44 | −$0.49 | $1.08 | $2.96 | $1.10 | $1.74 | $0.43 | $1.52 | $0.79 |
| Cash per share | $1.33 | $0.96 | $1.75 | $1.04 | $1.44 | $4.47 | $2.16 | $8.41 | $9.34 | $2.13 |
| Book value per share | $8.95 | $11.16 | $12.38 | $15.00 | $12.62 | $11.72 | $5.35 | $5.56 | $6.94 | $8.76 |
| Tangible book value per share | $7.60 | $9.61 | $10.83 | $13.41 | $11.25 | $8.94 | $2.37 | $2.69 | $3.62 | $4.92 |
| Dividends per share | $0.30 | $0.51 | $0.57 | $0.55 | $0.41 | $0.28 | $0.19 | $0.19 | $0.19 | $0.40 |
| Capex per share | $2.15 | $2.34 | $1.67 | $2.72 | $1.72 | $1.35 | $1.42 | $0.95 | $0.76 | $1.02 |
| Debt per share | $22.65 | $18.95 | $18.87 | $16.98 | $16.82 | $23.47 | $22.35 | $25.72 | $26.33 | $26.29 |
| Shares outstanding | 158.5M | 157.8M | 156.4M | 157.1M | 157.9M | 144.9M | 139.9M | 122.9M | 119.5M | 116.2M |
| Change in shares outstanding | +0.4% | +0.9% | −0.5% | −0.5% | +9.0% | +3.6% | +13.8% | +2.8% | +2.9% | +0.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −29.6% | −2.6% | −14.7% | 22.8% | 15.5% | 79.2% | −15.2% | −0.9% | −30.9% | −6.1% |
| Return on invested capital (ROIC) | −0.5% | 2.4% | 2.0% | 9.9% | 10.5% | 6.8% | 2.4% | 4.9% | 3.3% | −1.1% |
| Return on assets (ROA) | −7.7% | −0.8% | −5.1% | 8.1% | 4.6% | 16.4% | −2.2% | −0.1% | −5.8% | −1.2% |
| Return on tangible assets | −7.8% | −0.8% | −5.4% | 8.2% | 5.0% | 15.7% | −2.2% | −0.2% | −6.4% | −1.4% |
| Free cash flow margin | −9.7% | −2.3% | −2.7% | 4.9% | 13.1% | 5.8% | 9.2% | 2.9% | 10.7% | 4.4% |
| Income quality (OCF / net income) | — | — | — | 1.20 | 2.59 | 0.37 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $3.59B | $2.99B | $2.95B | $2.67B | $2.66B | $3.40B | $3.13B | $3.16B | $3.15B | $3.05B |
| Cash & short-term investments | $211.0M | $151.0M | $273.0M | $164.0M | $228.0M | $648.0M | $302.0M | $1.03B | $1.12B | $248.0M |
| Net debt | $3.38B | $2.84B | $2.68B | $2.50B | $2.43B | $2.75B | $2.82B | $2.13B | $2.03B | $2.81B |
| Debt / equity | 2.53 | 1.70 | 1.52 | 1.13 | 1.33 | 2.00 | 4.18 | 4.63 | 3.80 | 3.00 |
| Debt / assets | 0.58 | 0.50 | 0.48 | 0.42 | 0.44 | 0.52 | 0.59 | 0.68 | 0.65 | 0.62 |
| Net debt / EBITDA | 62.57 | 5.75 | 5.66 | 3.51 | 2.89 | 4.52 | 7.15 | 4.88 | 7.05 | 28.63 |
| Current ratio | 2.46 | 2.47 | 2.84 | 2.31 | 2.49 | 3.14 | 2.95 | 8.48 | 7.48 | 4.85 |
| Quick ratio | 0.67 | 0.69 | 0.95 | 0.80 | 1.22 | 1.73 | 1.34 | 6.88 | 6.14 | 3.97 |
| Interest coverage | -0.2 | 1.3 | 1.2 | 3.7 | 3.7 | 1.4 | 0.5 | 1.0 | 0.8 | -0.3 |
| Working capital | $1.35B | $1.28B | $1.38B | $1.11B | $1.23B | $1.72B | $1.37B | $2.24B | $2.29B | $2.17B |
| Invested capital | $4.80B | $4.60B | $4.61B | $4.86B | $4.42B | $4.45B | $3.57B | $2.81B | $2.86B | $3.82B |
| Tangible asset value | $1.24B | $1.55B | $1.74B | $2.15B | $1.82B | $1.47B | $500.0M | $510.0M | $619.0M | $715.0M |
| Net current asset value | −$2.50B | −$2.09B | −$2.02B | −$1.94B | −$1.90B | −$2.17B | −$2.28B | −$1.24B | −$1.21B | −$1.05B |
| Graham number | — | — | — | $32.68 | $22.68 | $41.99 | — | — | — | — |
| Graham net-net per share | −$22.17 | −$19.77 | −$18.83 | −$17.90 | −$17.19 | −$21.12 | −$22.30 | −$18.45 | −$18.78 | −$26.47 |
| Capital allocation | ||||||||||
| Dividends paid | $48.0M | $80.0M | $89.0M | $87.0M | $65.0M | $40.0M | $27.0M | $23.0M | $23.0M | $46.0M |
| Share buybacks (net) | — | $1.0M | $0 | $50.0M | $0 | $3.0M | $288.0M | $6.0M | $12.0M | $1.0M |
| Dividend payout ratio | — | — | — | 17.5% | 22.7% | 4.1% | — | — | — | — |
| Dividends + buybacks / free cash flow | — | — | — | 80.6% | 13.9% | 26.9% | 129.6% | 54.7% | 19.2% | 51.1% |
| Capex / revenue | 11.8% | 12.0% | 9.2% | 12.4% | 7.6% | 7.1% | 7.5% | 6.4% | 5.4% | 5.7% |
| Capex / operating cash flow | 568.3% | 123.3% | 141.8% | 71.6% | 36.8% | 54.9% | 44.9% | 68.8% | 33.3% | 56.4% |
| Capex / depreciation | 1.06 | 1.46 | 0.90 | 1.78 | 0.75 | 0.64 | 0.63 | 0.58 | 0.49 | 0.67 |
| Stock-based compensation / revenue | 0.7% | 0.7% | 0.7% | 0.8% | 0.9% | 1.1% | 1.2% | 1.2% | 1.8% | 1.2% |
| R&D / revenue | 0.5% | 0.5% | 0.4% | 0.3% | 0.4% | 0.4% | 0.6% | 0.6% | 0.5% | 0.4% |
| SG&A / revenue | 10.0% | 9.6% | 9.7% | 8.8% | 8.9% | 12.6% | 13.1% | 14.7% | 14.8% | 10.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 35.3 | 33.7 | 43.7 | 53.9 | 61.2 | 69.4 | 55.7 | 65.7 | 67.2 | 59.3 |
| Days of inventory on hand | 219.9 | 212.0 | 206.3 | 161.9 | 149.0 | 193.7 | 134.9 | 131.5 | 135.4 | 111.6 |
| Days payables outstanding | 67.3 | 68.5 | 66.9 | 59.4 | 54.1 | 59.6 | 39.8 | 41.2 | 41.9 | 29.2 |
| Cash conversion cycle (days) | 187.9 | 177.2 | 183.1 | 156.4 | 156.0 | 203.5 | 150.8 | 156.1 | 160.7 | 141.7 |
| Receivables turnover | 10.35 | 10.82 | 8.35 | 6.77 | 5.96 | 5.26 | 6.55 | 5.55 | 5.43 | 6.16 |
| Payables turnover | 5.42 | 5.33 | 5.45 | 6.15 | 6.74 | 6.12 | 9.17 | 8.87 | 8.70 | 12.52 |
| Inventory turnover | 1.66 | 1.72 | 1.77 | 2.25 | 2.45 | 1.88 | 2.71 | 2.78 | 2.70 | 3.27 |
| Asset turnover | 0.47 | 0.51 | 0.46 | 0.56 | 0.57 | 0.47 | 0.53 | 0.38 | 0.35 | 0.42 |
| Average receivables | $279.0M | $284.0M | $341.5M | $510.0M | $599.0M | $524.5M | $403.5M | $327.5M | $312.5M | $340.0M |
| Average payables | $490.0M | $480.0M | $438.0M | $426.5M | $397.0M | $349.0M | $237.5M | $149.0M | $150.5M | $147.5M |
| Average inventory | $1.60B | $1.49B | $1.35B | $1.16B | $1.09B | $1.13B | $805.0M | $476.0M | $486.0M | $564.5M |
| Intangibles / total assets | 3.4% | 4.0% | 4.0% | 4.0% | 3.6% | 6.1% | 7.9% | 7.6% | 8.1% | 9.0% |
Computed from TROX's annual financial statements (latest annual report filed February 20, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TROX valuation and financial ratios
Tronox earned a return on equity of −29.6% and a return on invested capital of −0.5% in fiscal 2025. It ended the year with $3.6 billion of debt and $211.0 million in cash and short-term investments, net debt of $3.4 billion. It returned $48.0 million to shareholders: $48.0 million in dividends and $0 in share buybacks. The share count rose 36.4% from 116.2M to 158.5M over 9 years.
See the TROX income statement, the TROX chart for price history, or the TROX stock overview for the latest quote and news.
TROX key metrics FAQ
What is Tronox's EV/EBITDA?
Tronox's enterprise value was 74.8 times EBITDA at the end of fiscal 2025 (enterprise value $4.0 billion, EBITDA $54.0 million); the current EV/EBITDA is 60.4.
What is Tronox's return on equity?
Tronox's return on equity (ROE) was −29.6% in fiscal 2025: net income of -$470.0 million on average shareholders' equity of $1.6 billion.
What is Tronox's ROIC?
Tronox's return on invested capital was −0.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Tronox have?
Tronox had total debt of $3.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 2.53 and $3.4 billion of net debt (62.57 times EBITDA).
What is Tronox's dividend yield?
Tronox's forward dividend yield is 5.76%. Tronox paid $48.0 million in dividends in fiscal 2025 ($0.30 per share), a payout ratio of —.
What is Tronox's free cash flow yield?
Tronox generated -$281.0 million of free cash flow in fiscal 2025, a free cash flow yield of −42.5% on its market value at year-end ($660.9 million).
What is Tronox's current ratio?
Tronox's current ratio was 2.46 at the end of fiscal 2025: current assets were 2.46 times current liabilities.