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Tronox Holdings PLC (TROX) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Tronox Holdings PLC $4.25, price $4.30, upside -1.2%, quality 30 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Basic Materials · US · Home United Kingdom · ISIN GB00BJT16S69

TH Tronox Holdings PLC logo Thin data Sep 23, 2026

Tronox Holdings PLC

TROX · US

Low PriorityFair Value upside is limited and quality is weak.

·Fair value $4.25 · Fairly valued (−1%)
!Quality 30/100
!Weak Growth (revenue 5y +0.9 %/yr)
!Loss-making · -15.8% net margin (TTM)
!High debt · negative free cash flow
·6.40% dividend yield
!Trails peers (4/12)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
!Weak on future: 15 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$21.45 $2.84 Fair Value $4.25 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $2.84 – $21.45 · fair‑value band $2.43 – $6.33 · the $4.30 price screens above the $4.25 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations.

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Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; high purity pig iron; monazite; feedstock; and titanium tetrachloride products. The company's products are used for the manufacture of paints, coatings, plastics, and paper, as well as various other applications. Tronox Holdings plc was incorporated in 2018 and is based in Stamford, Connecticut.

Stock analysis

Tronox Holdings PLC (TROX) currently trades at $4.30, while our model-based Fair Value estimate is $4.25, implying the stock looks roughly 1.2% fairly valued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of $5.96 per share, and 1 of the 3 models we run sit above the $4.30 price.

Bear case: the Dividend Discount group reads lowest at $3.36, and 2 of the 3 models stay below the price. Evidence for this calculation is low.

Scenario range: $2.43 (bear) to $6.33 (bull), the price of $4.30 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 30/100 (below-average quality), in the Basic Materials sector.

Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.

Tronox Holdings PLC reported revenue of $2.9B in FY2025 versus $3.6B in FY2021, a compound −5.2%/yr. Reported net income was −$470M in FY2025.

Key figures

Market cap $1.2B · P/S ratio 0.40 · EPS (TTM) $−2.92 · Dividend yield 6.4% · Net margin −16.3% · Return on equity −30.8% · Return on assets (EBIT) 4.6% · Operating margin −3.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (low confidence).

What moves the price

The share trades about 59% below its 52-week high and 51% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at 2% fair-value upside, at −1%, TROX screens richer than that median.

Fair Value models

Bear $2.43 Fair Value $4.25 Bull $6.33
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Gordon GGM $2.34 $3.98 $5.78 67
DDM Multi-Stage $2.34 $3.36 $4.32 67
NCAV (Graham) $4.44 $5.96 $8.89 54
All 3 models by family
Dividend Discount
Gordon GGM $2.34 $3.98 $5.78 67
DDM Multi-Stage $2.34 $3.36 $4.32 67
Asset-Based
NCAV (Graham) $4.44 $5.96 $8.89 54

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Quality Score breakdown

Overall quality 30/100

Of which business quality 28 · Market factors (momentum, volatility) 25

Profitability 7
Margins and returns on capital today
Quality Growth 6
Are margins and returns improving?
Cashflow 10
Earnings quality: real cash, not paper profit
Fin. Strength 9
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 17
Price trend over the last 3–12 months (market factor)
52W Momentum 22
Distance to the 52-week high (market factor)
Net Issuance 78
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 7/100
Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
Revenue growth 1 year
−6.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−5.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.9%
Start year 2020 (pandemic). Over 10 years: +3.2% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
9.8% (2020) → −1.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Chemicals · 355 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 30 · Bottom 25%
Fair Value upside −3% · Above median
Profitability
Return on assets −1% · Bottom 25%
Net margin (TTM) −16% · Bottom 25%
Operating margin (TTM) −4% · Bottom 25%
Growth and dividend
Revenue growth 3% · Below median
Dividend yield (TTM) 6.4% · Top 25%
Balance sheet
Debt / equity 2.21× · Highest 25%

Valuation Multiplesvs Chemicals median · lower = cheaper

P/B 0.83× · Cheaper than median
P/S (TTM) 0.40× · Cheapest 25%
EV/EBITDA 17.7× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)32 · sector 0
FUTURE (revenue growth)15 · sector 24
PAST (return on equity)0 · sector 19
HEALTH (low debt)0 · sector 94
DIVIDEND (yield)100 · sector 31

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
BASF SE BAS €51.79 €23.76 −54%
Ningxia Baofeng Energy Group 600989 ¥23.21 ¥40.44 +74%
Dow Inc DOW $28.20 $21.03 −25%
Zhejiang Juhua Co 600160 ¥34.61 ¥19.88 −43%
Rongsheng Petrochemical Co 002493 ¥13.13 ¥2.90 −78%
Zangge Mining Company 000408 ¥73.50 ¥80.85 +10%
Ganfeng Lithium Group 002460 ¥46.39 ¥16.17 −65%
PT Barito Pacific Tbk, BRPT 1,565 IDR 1,589 IDR +2%
Hengli Petrochemical Co 600346 ¥16.54 ¥43.28 +162%
LG Chem, Ltd 051910 252,500 KRW 587,755 KRW +133%

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$4.25 −1%Fair Value
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Cite: Fair Value Calculator (2026). "Tronox Holdings PLC Fair Value". https://www.fairvalue-calculator.com/stock/TROX

Frequently asked questions

Is Tronox Holdings PLC (TROX) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $4.25 versus a price of $4.30, about −1% upside (fairly valued).
What is the fair value of TROX?
Our model-based fair value for Tronox Holdings PLC is $4.25 (as of Sep 23, 2026), built from audited fundamentals. The current price: $4.30.
What is the quality score of TROX?
Tronox Holdings PLC has a Quality Score of 30/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Tronox Holdings PLC (TROX)?
Our model-based price target is the fair value of $4.25 (as of Sep 23, 2026) from 3 valuation models. Cautious scenario $2.43, optimistic scenario $6.33. It is a calculation from audited fundamentals, not an analyst target.
What is the Tronox Holdings PLC stock forecast for 2026?
Our models put fair value at $4.25, about −1% upside versus a price of $4.30 (fairly valued). Cautious scenario $2.43, optimistic scenario $6.33. The calculation is refreshed regularly with new filings.
What is the revenue of Tronox Holdings PLC (TROX)?
Tronox Holdings PLC reported trailing-twelve-month revenue of about $2.9B (latest available figure, as of Sep 23, 2026).
Does Tronox Holdings PLC pay a dividend?
Tronox Holdings PLC currently shows a dividend yield of about 6.40% relative to its recent price (as of Sep 23, 2026).
What is the intrinsic value of Tronox Holdings PLC (TROX)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tronox Holdings PLC it is $4.25 per share (as of Sep 23, 2026), against a price of $4.30. It is the blended result of 3 valuation models (cash flow, earnings, asset, dividend).
Is Tronox Holdings PLC stock overvalued or undervalued in 2026?
As of Sep 23, 2026, TROX trades above its calculated fair value: price $4.30, fair value $4.25, a gap of about −1% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TROX?
No. The price is what the market pays today ($4.30); the fair value is what the company's own numbers justify ($4.25). For Tronox Holdings PLC the two are $0.0500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tronox Holdings PLC worth?
The market values Tronox Holdings PLC at about $1.2B (market capitalisation, as of Sep 23, 2026). Per share that is $4.30; our models calculate a fair value of $4.25 per share.
What do the bullish and bearish scenarios say about TROX?
Our models span a range for Tronox Holdings PLC: cautious scenario $2.43, base $4.25, optimistic $6.33 per share (as of Sep 23, 2026, price $4.30). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Tronox Holdings PLC (TROX)?
Balance-sheet figures for Tronox Holdings PLC (as of Sep 23, 2026): return on equity −30.8%, debt of 2.21 per unit of equity. They feed the Quality Score of 30/100, which measures business quality independently of the share price.
How far is TROX from its 52-week high?
Tronox Holdings PLC trades at $4.30, about 59% below its 52-week high of $10.42 and 51% above the low of $2.84 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $4.25 is for.
Which stocks are comparable to Tronox Holdings PLC?
From the same area (Basic Materials) we also value BASF SE, Ningxia Baofeng Energy Group, Dow Inc, Zhejiang Juhua Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tronox Holdings PLC stock attractive at the current price?
The data as of Sep 23, 2026: price $4.30, calculated fair value $4.25 (−1%), Quality Score 30/100, from 3 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TROX calculated?
We run Tronox Holdings PLC through 3 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $4.25, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Tronox Holdings PLC itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tronox Holdings PLC (TROX)?
The closing price on Sep 23, 2026 was $4.30. Our model-based fair value is $4.25, about −1% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tronox Holdings PLC right now?
The model range is unusually wide ($2.43 to $6.33). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Tronox Holdings PLC

How large is the market capitalisation of Tronox Holdings PLC (TROX)?
The market capitalisation of Tronox Holdings PLC is $1.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tronox Holdings PLC (TROX)?
The price-to-sales ratio of Tronox Holdings PLC is 0.40 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tronox Holdings PLC (TROX)?
Earnings per share at Tronox Holdings PLC are $−2.92. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tronox Holdings PLC (TROX)?
The dividend yield of Tronox Holdings PLC is 6.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tronox Holdings PLC (TROX)?
The net margin of Tronox Holdings PLC is −16.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tronox Holdings PLC (TROX)?
The return on equity (ROE) of Tronox Holdings PLC is −30.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tronox Holdings PLC (TROX)?
On an EBIT basis the return on assets of Tronox Holdings PLC is 4.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tronox Holdings PLC (TROX)?
The operating margin of Tronox Holdings PLC is −3.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tronox Holdings PLC (TROX)?
Revenue at Tronox Holdings PLC is growing +3.0% versus a year earlier (3y avg −5.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Tronox Holdings PLC (TROX)?
Earnings per share at Tronox Holdings PLC are growing +48.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tronox Holdings PLC (TROX) generate?
The free cash flow of Tronox Holdings PLC is −$281K (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tronox Holdings PLC (TROX) carry?
The net debt of Tronox Holdings PLC is $3.4B (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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