Sector: Rare metals
Geography: South Africa, Australia, United States
COMM_TROX
Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.
Shares: yahoo_fundamentals_timeseries/TROX
Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.
| Date | Period | Status | RevenueM USD | Operating profitM USD | D&AM USD | EBITDAM USD | Net profitM USD | Operating CFM USD | Capex + M&AM USD | AssetsM USD | EquityM USD | ROE (annualized) | Net debtM USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-03-31 | Q1 2026 (3M) | OK | 760.0 y/y 3.0% | -41.0 y/y — | 75.0 y/y 5.6% | 34.0 y/y 240.0% | -103.0 y/y — | -68.0 | -67.0 | 6057.0 y/y -0.2% | 1289.0 y/y -23.0% | -30.4% | 3338.0 | Link |
| 2025-12-31 | Q4 2025 (3M) | OK | 730.0 y/y 8.0% | -71.0 y/y -337.5% | 82.0 y/y 15.5% | -64.0 y/y -126.9% | -77.0 y/y — | 178.0 | 12.0 | 6217.0 y/y 3.0% | 1418.0 y/y -19.5% | -47.3% | 3045.0 | Link |
| 2025-09-30 | Q3 2025 (3M) | OK | 699.0 y/y -13.1% | -43.0 y/y -179.6% | 75.0 y/y 7.1% | 32.0 y/y -74.2% | -99.0 y/y — | -57.0 | -80.0 | 6303.0 y/y 1.8% | 1561.0 y/y -18.4% | -8.2% | 3222.0 | Link |
| 2025-06-30 | Q2 2025 (3M) | OK | 731.0 y/y -10.9% | -35.0 y/y -146.1% | 74.0 y/y 2.8% | 39.0 y/y -73.6% | -84.0 y/y -625.0% | 28.0 | -83.0 | 6186.0 y/y 1.5% | 1646.0 y/y -13.3% | -20.2% | 3060.0 | Link |
| 2025-03-31 | Q1 2025 (3M) | OK | 738.0 y/y -4.7% | -61.0 y/y -248.8% | 71.0 y/y -1.4% | 10.0 y/y -91.2% | -111.0 y/y — | -32.0 | -110.0 | 6069.0 y/y 0.8% | 1674.0 y/y -11.1% | -25.9% | 2965.0 | Link |
| 2024-12-31 | Q4 2024 (3M) | OK | 676.0 y/y -1.5% | 48.0 y/y 500.0% | 71.0 y/y 2.9% | 119.0 y/y 54.5% | -5.0 y/y — | 82.0 | -16.0 | 6038.0 y/y -1.6% | 1761.0 y/y -9.0% | -6.5% | 2732.0 | Link |
| 2024-09-30 | Q3 2024 (3M) | OK | 804.0 y/y 21.5% | 54.0 y/y 68.8% | 70.0 y/y 4.5% | 124.0 y/y 25.3% | -25.0 y/y — | 87.0 | -101.0 | 6191.0 y/y 2.5% | 1913.0 y/y -4.0% | -1.7% | 2773.0 | Link |
| 2024-06-30 | Q2 2024 (3M) | OK | 820.0 y/y 3.3% | 76.0 y/y -9.5% | 72.0 y/y 5.9% | 148.0 y/y -2.6% | 16.0 y/y — | 160.0 | -76.0 | 6096.0 y/y 0.7% | 1898.0 y/y -7.0% | 3.4% | 2729.0 | Link |
| 2024-03-31 | Q1 2024 (3M) | OK | 774.0 y/y 9.3% | 41.0 y/y -33.9% | 72.0 y/y 1.4% | 113.0 y/y -15.0% | -9.0 y/y -139.1% | -29.0 | -76.0 | 6022.0 y/y -5.3% | 1882.0 y/y -19.9% | -1.9% | 2786.0 | Link |
| 2023-12-31 | Q4 2023 (3M) | OK | 686.0 y/y — | -24.0 y/y — | 69.0 y/y — | 77.0 y/y — | -42.0 y/y — | 93.0 | -5.0 | 6134.0 y/y — | 1936.0 y/y — | -11.4% | 2575.0 | Link |
| 2023-09-30 | Q3 2023 (3M) | OK | 662.0 y/y — | 32.0 y/y — | 67.0 y/y — | 99.0 y/y — | -14.0 y/y — | 17.0 | -54.0 | 6040.0 y/y — | 1993.0 y/y — | -0.9% | 2709.0 | Link |
| 2023-06-30 | Q2 2023 (3M) | OK | 794.0 y/y — | 84.0 y/y — | 68.0 y/y — | 152.0 y/y — | -269.0 y/y — | 136.0 | -55.0 | 6055.0 y/y — | 2041.0 y/y — | -49.0% | 2640.0 | Link |
| 2023-03-31 | Q1 2023 (3M) | OK | 708.0 y/y — | 62.0 y/y — | 71.0 y/y — | 133.0 y/y — | 23.0 y/y — | -79.0 | -93.0 | 6359.0 y/y — | 2349.0 y/y — | — | 2675.0 | Link |
Quarterly values ($ mln)
Year-over-year change
FCF ($ mln)
Net debt / cash ($ mln)
Physical operating metrics — supplementary, not part of the financial statements
Chemicals
| Year | Reserves, mln tons |
|---|---|
| 2021 | 1.10 |
EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)
Current 15 600spot vs LTM +7%
EI1 PHP analysis (Wd_Strategy_Results_Comm.Potential_min3y) — the production commodity re-rating upside.
Upside: +202.5%
Main driver: Titanium Dioxide (China, RMB/t) +7% vs LTM; revenue ×1.07 vs costs ×1.04; EBITDA 222→329; at 9.4× EV/EBITDA → +202%.
Product prices — moves vs the LTM average
| Commodity | Share | Spot | LTM | 3-yr | vs LTM, $ | 3y vs LTM |
|---|---|---|---|---|---|---|
| Titanium Dioxide (China, RMB/t) (rev) | +100% | 15 600.00 | 14 538.85 | 15 886.60 | +7% | +9% |
| Henry Hub Gas (cost) | -5% | 2.91 | 3.37 | 3.11 | -14% | -8% |
| Electricity Spot (cost) | -5% | 57.80 | 58.56 | 52.39 | -1% | -11% |
| Coking coal (Australia) (cost) | -3% | 224.00 | 215.46 | 239.91 | +4% | +11% |
| China Sulfur (cost) | -1% | 9 519.00 | 4 452.95 | 2 898.43 | +114% | -35% |
How it is calculated — revenue → costs → EBITDA → target market cap
| 1 · Reported baseline (LTM) | |
| LTM revenue | 2 920 |
| LTM EBITDA | 222 |
| LTM cash costs (revenue − EBITDA) | 2 698 |
| 2 · Revenue projection | |
| Revenue multiplier — spot | ×1.073 (+7%) |
| = Spot revenue | 3 133 |
| Revenue multiplier — 3y price | ×1.093 (+9%) |
| = 3-year-price revenue | 3 191 |
| 3 · Costs projection | |
| Cost multiplier — spot | ×1.039 (+4%) |
| = Spot cash costs | 2 804 |
| Cost multiplier — 3y price | ×1.025 (+3%) |
| = 3-year-price cash costs | 2 766 |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 329 |
| = 3-year-price EBITDA | 425 |
| Conservative EBITDA = min(spot, avg) | 329 |
| 5 · Valuation → target market cap | |
| Historical EV/projected-EBITDA (75th pct) | 9.4x |
| Target EV = EV/EBITDA × conservative EBITDA | 3 089 |
| Net debt | 3 363 |
| Target market cap = EV − net debt | -359 |
| Current market cap | 1 012 |
Upside = target market cap ÷ current − 1 = +202.5%
Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.
| Period | Act. rev | Model rev | Δ rev | Act. EBITDA | Model EBITDA | Δ EBITDA |
|---|---|---|---|---|---|---|
| 2023 Q2 | 794 | 747 | +6.4% | 152 | 160 | -4.8% |
| 2023 Q3 | 662 | 737 | -10.2% | 99 | 147 | -32.7% |
| 2023 Q4 | 686 | 732 | -6.3% | 77 | 146 | -47.1% |
| 2024 Q1 | 774 | 719 | +7.7% | 113 | 118 | -4.3% |
| 2024 Q2 | 820 | 722 | +13.5% | 148 | 90 | +64.4% |
| 2024 Q3 | 804 | 698 | +15.2% | 124 | 64 | +93.5% |
| 2024 Q4 | 676 | 717 | -5.7% | 189 | 37 | +409.8% |
| 2025 Q1 | 738 | 722 | +2.3% | 10 | 62 | -83.9% |
| 2025 Q2 | 731 | 726 | +0.6% | 39 | 57 | -32.1% |
| 2025 Q3 | 699 | 658 | +6.2% | 32 | -8 | — |
| 2025 Q4 | 730 | 660 | +10.5% | 117 | -16 | — |
| 2026 Q1 | 760 | 709 | +7.2% | 34 | 10 | — |
Projected EV/EBITDA 11.0x · target 75th pct (3y) 9.4x · LTM avg 14.0x
| Date | Per share | Details | Status | Source |
|---|---|---|---|---|
| 2026-05-11 | 0.05 USD | Ex-dividend: 0.05 USD per share | Paid | Yahoo Finance (ex-div) |
| 2026-02-23 | 0.05 USD | Ex-dividend: 0.05 USD per share | Paid | Yahoo Finance (ex-div) |
| 2025-11-10 | 0.05 USD | Ex-dividend: 0.05 USD per share | Paid | Yahoo Finance (ex-div) |
| 2025-08-11 | 0.05 USD | Ex-dividend: 0.05 USD per share | Paid | Yahoo Finance (ex-div) |
| 2025-05-19 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2025-03-03 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2024-11-08 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2024-08-26 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2024-05-17 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2024-03-01 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2023-11-10 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2023-08-11 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2023-05-12 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2023-03-03 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2022-11-10 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2022-08-12 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2022-05-20 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2022-03-04 | 0.125 USD | Ex-dividend: 0.125 USD per share | Paid | Yahoo Finance (ex-div) |
| 2021-11-12 | 0.1 USD | Ex-dividend: 0.1 USD per share | Paid | Yahoo Finance (ex-div) |
| 2021-08-06 | 0.1 USD | Ex-dividend: 0.1 USD per share | Paid | Yahoo Finance (ex-div) |
KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).
Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)
Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Tronox Holdings (TROX) — from primary filings.
Tronox Holdings plc mines and processes titanium-bearing mineral sands to produce titanium dioxide pigment, which is used in paints, plastics, and paper. The company also produces zircon, pig iron, and other mineral products.