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Tronox (TROX)
NYSE:TROX
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TRONOX (TROX) AI Stock Analysis

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TROX

TRONOX

(NYSE:TROX)

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Neutral 49 (OpenAI - 5.2)
Rating:49Neutral
Price Target:
$7.00
▲(12.18% Upside)
Action:Reiterated
Date:08/07/26
The score is held back primarily by weak financial performance (losses, thin margins, and negative free cash flow). Technicals are mixed with only moderate support, while valuation is constrained by negative earnings despite a decent dividend yield. The latest earnings call improves the outlook modestly via better pricing, higher EBITDA guidance, and expectations for positive 2026 free cash flow, but near-term cost and profitability pressures remain significant.
Positive Factors
Vertical integration across TiO2 value chain
Owning upstream mining and feedstock processing reduces reliance on third-party suppliers and insulates production from external feedstock price shocks. Over months this vertical footprint supports more stable input supply, cost control, and the potential to sustain margins versus less-integrated peers.
Negative Factors
Elevated leverage and balance-sheet pressure
High reported leverage limits financial flexibility and raises refinancing and covenant risk during cyclical downturns. Sustained operating losses make deleveraging slower; with material debt outstanding, management has less room for discretionary investment or to absorb further demand shocks in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration across TiO2 value chain
Owning upstream mining and feedstock processing reduces reliance on third-party suppliers and insulates production from external feedstock price shocks. Over months this vertical footprint supports more stable input supply, cost control, and the potential to sustain margins versus less-integrated peers.
Read all positive factors

TRONOX (TROX) vs. SPDR S&P 500 ETF (SPY)

TRONOX Business Overview & Revenue Model

Company Description
Tronox Holdings plc functions as a globally integrated producer of titanium dioxide (TiO2) pigment, maintaining a significant presence across North and South America, Europe, the Middle East, Africa, and the Asia Pacific. The company's operations ...
How the Company Makes Money
Tronox makes money primarily by manufacturing and selling titanium dioxide (TiO2) pigment to industrial customers. The core revenue stream is TiO2 pigment sales, typically sold under supply agreements or spot contracts with pricing driven by negot...

TRONOX Earnings Call Summary

Earnings Call Date:Aug 05, 2026
(Q2-2026)
|
% Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Neutral
The call communicated clear commercial momentum (19% revenue growth, sequential pricing gains, inventory reductions and positive free cash flow in Q2) and an improving outlook (Q3 EBITDA guidance and longer-term rare earths opportunity). At the same time, notable near-term headwinds remain: a material Q2 net loss driven by a tax valuation allowance, a 22% YoY decline in adjusted EBITDA, elevated input costs (notably sulfur/sulfuric acid), FX pressure, and inventory constraints that could moderate zircon volumes in Q3. Management emphasized disciplined pricing, cost improvements and liquidity actions to navigate macro and trade uncertainties. Overall, positives and constructive guidance are balanced against significant near-term profitability and cost challenges.
Positive Updates
Revenue Growth
Total revenue of $868 million, up 19% year-over-year, driven by higher TiO2 and zircon volumes.
Negative Updates
Net Loss and Earnings Metrics
Loss from operations of $21 million and net loss attributable to Tronox of $171 million in Q2, which included a $103 million valuation allowance on certain U.S. state deferred tax assets; adjusted diluted EPS was a loss of $0.51.
Read all updates
Q2-2026 Updates
Negative
Revenue Growth
Total revenue of $868 million, up 19% year-over-year, driven by higher TiO2 and zircon volumes.
Read all positive updates
Company Guidance
Tronox guided that third‑quarter TiO2 volumes should be down moderately (mid‑single‑digit %), zircon volumes should moderate slightly (inventory‑timing driven), TiO2 pricing is expected to rise sequentially in the mid‑single‑digit % range and zircon pricing in the mid‑ to high‑single‑digit % range (building on a 5% sequential pricing improvement in Q2); it expects Q3 adjusted EBITDA of $95–115 million with sequential margin improvement and roughly neutral free cash flow in Q3 (reflecting semiannual interest payments). For full‑year 2026 the company reiterated expectations for meaningful positive free cash flow, with net cash interest of ~ $190 million, net cash taxes < $10 million, capital expenditures < $260 million, and working capital to be a source of cash well in excess of $100 million; it also noted its cost‑improvement program remains on track to deliver at the higher end of a $125–$175 million run‑rate by year‑end 2026 (Q2 adjusted EBITDA was $73 million and inventory was reduced ≈ $120 million Q1→Q2).

TRONOX Financial Statement Overview

Summary
Financial results are weak and deteriorated versus prior years: very thin margins, sizable net losses, negative ROE, and deeply negative recent free cash flow despite positive TTM operating cash flow—suggesting elevated risk until profitability and cash generation normalize.
Income Statement
24
Negative
Balance Sheet
22
Negative
Cash Flow
28
Negative
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue3.05B2.89B3.07B2.85B3.45B3.57B
Gross Profit163.00M229.00M515.00M462.00M832.00M895.00M
EBITDA88.00M54.00M525.00M473.00M714.00M840.00M
Net Income-549.00M-470.00M-48.00M-316.00M497.00M286.00M
Balance Sheet
Total Assets5.95M6.22B6.04B6.13B6.31B5.99B
Cash, Cash Equivalents and Short-Term Investments194.00K211.00M151.00M273.00M164.00M228.00M
Total Debt287.00K3.59B2.99B2.95B2.67B2.66B
Total Liabilities4.76M4.77B4.25B4.15B3.90B3.94B
Stockholders Equity1.16M1.42B1.76B1.94B2.36B1.99B
Cash Flow
Free Cash Flow-295.00M-281.00K-70.00M-77.00M170.00M468.00M
Operating Cash Flow32.00M60.00K300.00M184.00M598.00M740.00M
Investing Cash Flow-316.00M-328.00K-343.00M-255.00M-415.00M-269.00M
Financing Cash Flow290.00M321.00K-71.00M176.00M-250.00M-877.00M

TRONOX Technical Analysis

Technical Analysis Sentiment
Positive
Last Price6.24
Price Trends
50DMA
6.77
Positive
100DMA
7.82
Negative
200DMA
6.47
Positive
Market Momentum
MACD
-0.14
Negative
RSI
59.62
Neutral
STOCH
48.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TROX, the sentiment is Positive. The current price of 6.24 is above the 20-day moving average (MA) of 6.13, below the 50-day MA of 6.77, and below the 200-day MA of 6.47, indicating a bullish trend. The MACD of -0.14 indicates Negative momentum. The RSI at 59.62 is Neutral, neither overbought nor oversold. The STOCH value of 48.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TROX.

TRONOX Risk Analysis

TRONOX disclosed 42 risk factors in its most recent earnings report. TRONOX reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

TRONOX Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
$762.72M5.9810.14%8.56%13.40%10.28%
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
61
Neutral
$783.33M21.806.98%22.12%
52
Neutral
$1.71B-9.81-6.28%4.00%0.65%45.36%
49
Neutral
$931.62M-2.00-31.25%3.21%-4.02%-206.93%
49
Neutral
$540.80M51.441.28%3.04%-0.63%-87.72%
42
Neutral
$850.54M-0.69142.56%-13.10%-0.68%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TROX
TRONOX
6.95
3.86
124.85%
BAK
Braskem SA
2.33
-0.71
-23.36%
HUN
Huntsman
10.14
1.05
11.54%
LXU
Lsb Industries
9.69
2.29
30.95%
WLKP
Westlake Chemical PRN
21.35
1.26
6.29%
ASIX
AdvanSix
20.14
2.26
12.65%

TRONOX Corporate Events

Dividends
Tronox Declares Third-Quarter Cash Dividend to Shareholders
Positive
Jul 29, 2026
On July 29, 2026, Tronox Holdings plc announced that its Board of Directors declared a third-quarter cash dividend of $0.05 per share for shareholders. The dividend will be paid on October 9, 2026 to investors recorded as shareholders at the close...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 07, 2026