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Tronox Holdings USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Rare metals

Geography: South Africa, Australia, United States

COMM_TROX

Price chart

8.02 USDDay 3.62%

Key metrics

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.

Market

Price
8.02 USD · 3.62%
Market cap
1.3 bn USD

Growth

Δ revenue y/y
3.0%
Δ EBITDA y/y
240.0%

Multiples

P/E (LTM)
—
P/B (FY)
0.9x
P/E (ann.)
<0
EV/EBITDA (LTM)
61.1x
EV/EBITDA (ann.)
32.8x

Cash return

Dividend yield
2.5%
FCF yield (LTM)
-22.4%

Value creation

to fair market cap at the current EV/EBITDA
Upside (potential)
-18.1%
↓ details

Liquidity

Daily turnover (listing)
17.4 mln USD

Shares: yahoo_fundamentals_timeseries/TROX

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 11 / Err: 5 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1✗Errors 1Warn 2
2023-06-30 Q2⚠Warn 1
2023-09-30 Q3⚠Warn 1
2023-12-31 FY⚠Warn 1
2023-12-31 Q4⚠Warn 1
2024-03-31 Q1✗Errors 1Warn 2
2024-06-30 Q2⚠Warn 2
2024-09-30 Q3⚠Warn 1
2024-12-31 FY⚠Warn 1
2024-12-31 Q4⚠Warn 1
2025-03-31 Q1✗Errors 2Warn 3
2025-06-30 Q2⚠Warn 1
2025-09-30 Q3✗Errors 1Warn 1
2025-12-31 FY⚠Warn 1
2025-12-31 Q4⚠Warn 2
2026-03-31 Q1✗Errors 1Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

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.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-31Q1 2026 (3M)OK760.0
y/y 3.0%
-41.0
y/y —
75.0
y/y 5.6%
34.0
y/y 240.0%
-103.0
y/y —
-68.0-67.06057.0
y/y -0.2%
1289.0
y/y -23.0%
-30.4%3192.0Link
2025-12-31Q4 2025 (3M)OK730.0
y/y 8.0%
-114.0
y/y -337.5%
82.0
y/y 15.5%
-32.0
y/y -126.9%
-176.0
y/y -486.7%
121.0-68.06217.0
y/y 3.0%
1418.0
y/y -19.5%
-31.6%3045.0Link
2025-09-30Q3 2025 (3M)OK699.0
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 —
-57.0-80.06303.0
y/y 1.8%
1561.0
y/y -18.4%
-8.2%3075.0Link
2025-06-30Q2 2025 (3M)OK731.0
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%
28.0-83.06186.0
y/y 1.5%
1646.0
y/y -13.3%
-20.2%2946.0Link
2025-03-31Q1 2025 (3M)OK738.0
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 —
-32.0-110.06069.0
y/y 0.8%
1674.0
y/y -11.1%
-25.9%2859.0Link
2024-12-31Q4 2024 (3M)OK676.0
y/y -1.5%
48.0
y/y 500.0%
71.0
y/y 2.9%
119.0
y/y 54.5%
-30.0
y/y 46.4%
82.0-117.06038.0
y/y -1.6%
1761.0
y/y -9.0%
-2.6%2732.0Link
2024-09-30Q3 2024 (3M)OK804.0
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 —
87.0-101.06191.0
y/y 2.5%
1913.0
y/y -4.0%
-1.7%2671.0Link
2024-06-30Q2 2024 (3M)OK820.0
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 —
160.0-76.06096.0
y/y 0.7%
1898.0
y/y -7.0%
3.4%2626.0Link
2024-03-31Q1 2024 (3M)OK774.0
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%
-29.0-76.06022.0
y/y -5.3%
1882.0
y/y -19.9%
-1.9%2681.0Link
2023-12-31Q4 2023 (3M)OK686.0
y/y —
8.0
y/y —
69.0
y/y —
77.0
y/y —
-56.0
y/y —
110.0-59.06134.0
y/y —
1936.0
y/y —
-16.1%2575.0Link
2023-09-30Q3 2023 (3M)OK662.0
y/y —
32.0
y/y —
67.0
y/y —
99.0
y/y —
-14.0
y/y —
17.0-54.06040.0
y/y —
1993.0
y/y —
-0.9%2605.0Link
2023-06-30Q2 2023 (3M)OK794.0
y/y —
84.0
y/y —
68.0
y/y —
152.0
y/y —
-269.0
y/y —
136.0-55.06055.0
y/y —
2041.0
y/y —
-49.0%2532.0Link
2023-03-31Q1 2023 (3M)OK708.0
y/y —
62.0
y/y —
71.0
y/y —
133.0
y/y —
23.0
y/y —
-79.0-93.06359.0
y/y —
2349.0
y/y —
—2565.0Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Chemicals

Proved reserves
1.10 mln tons
2021

Proved reserves

YearReserves, mln tons
20211.10

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-20002004006008002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%-100%0%100%200%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-150-100-500501002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

01 0002 0003 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — Titanium Dioxide (China, RMB/t)

Current 16 720spot vs LTM +19%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -18.1%

Main driver: Titanium Dioxide (China, RMB/t) +19% vs LTM; revenue ×1.19 vs costs ×1.06; EBITDA 222→566; at 7.6× EV/EBITDA → -18%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Titanium Dioxide (China, RMB/t) (rev)+100%16 720.0014 096.0115 865.06+19%+13%
Henry Hub Gas (cost)-5%3.143.533.09-11%-12%
Electricity Spot (cost)-5%57.8058.5652.39-1%-11%
Coking coal (Australia) (cost)-3%245.50202.20239.63+21%+19%
China Sulfur (cost)-1%9 867.673 146.102 554.94+214%-19%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue2 920
LTM EBITDA222
LTM cash costs (revenue − EBITDA)2 698
2 · Revenue projection
Revenue multiplier — spot×1.186 (+19%)
= Spot revenue3 464
Revenue multiplier — 3y price×1.126 (+13%)
= 3-year-price revenue3 286
3 · Costs projection
Cost multiplier — spot×1.056 (+6%)
= Spot cash costs2 849
Cost multiplier — 3y price×1.027 (+3%)
= 3-year-price cash costs2 770
4 · EBITDA projection (revenue − costs)
= Spot EBITDA614
= 3-year-price EBITDA517
Conservative EBITDA = min(spot, avg)566
5 · Valuation → target market cap
Historical EV/projected-EBITDA (3-yr average)7.6x
Target EV = EV/EBITDA × conservative EBITDA4 290
Net debt3 192
Target market cap = EV − net debt1 042
Current market cap1 272

Upside = target market cap ÷ current − 1 = -18.1%

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.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2023 Q2794747+6.4%152160-4.8%
2023 Q3662737-10.2%99147-32.7%
2023 Q4686732-6.3%77146-47.1%
2024 Q1774719+7.7%113118-4.3%
2024 Q2820722+13.5%14890+64.4%
2024 Q3804698+15.2%12464+93.5%
2024 Q4676717-5.7%18937+409.8%
2025 Q1738722+2.3%1062-83.9%
2025 Q2731726+0.6%3957-32.1%
2025 Q3699658+6.2%32-8—
2025 Q4730660+10.5%117-16—
2026 Q1760709+7.2%3410+225.6%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 11.2x · target 3-yr avg 7.6x · LTM avg 11.5x

EV/EBITDA (LTM)EV/EBITDA (projected)target avg (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-05-110.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2026-02-230.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2025-11-100.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2025-08-110.05 USDEx-dividend: 0.05 USD per sharePaidYahoo Finance (ex-div)
2025-05-190.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2025-03-030.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2024-11-080.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2024-08-260.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2024-05-170.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2024-03-010.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-11-100.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-08-110.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-05-120.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2023-03-030.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-11-100.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-08-120.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-05-200.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2022-03-040.125 USDEx-dividend: 0.125 USD per sharePaidYahoo Finance (ex-div)
2021-11-120.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2021-08-060.1 USDEx-dividend: 0.1 USD per sharePaidYahoo 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)