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Tronox Holdings (STU:T5X) Operating Income : €188 Mil (TTM As of Mar. 2025)


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What is Tronox Holdings Operating Income?

Tronox Holdings's Operating Income for the three months ended in Mar. 2025 was €23 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was €188 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tronox Holdings's Operating Income for the three months ended in Mar. 2025 was €23 Mil. Tronox Holdings's Revenue for the three months ended in Mar. 2025 was €683 Mil. Therefore, Tronox Holdings's Operating Margin % for the quarter that ended in Mar. 2025 was 3.39%.

Good Sign:

Tronox Holdings PLC operating margin is expanding. Margin expansion is usually a good sign.

Tronox Holdings's 5-Year average Growth Rate for Operating Margin % was 3.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tronox Holdings's annualized ROC % for the quarter that ended in Mar. 2025 was 1.95%. Tronox Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was -6.34%.


Tronox Holdings Operating Income Historical Data

The historical data trend for Tronox Holdings's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Tronox Holdings Operating Income Chart

Tronox Holdings Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 225.23 510.65 512.59 170.56 209.15

Tronox Holdings Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 37.72 70.60 48.65 45.84 23.13

Tronox Holdings Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was €188 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Tronox Holdings  (STU:T5X) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Tronox Holdings's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

ROC % (Q: Mar. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2024 ) + Invested Capital (Q: Mar. 2025 ))/ count )
=92.5 * ( 1 - -4.72% )/( (5021.39 + 4927.475)/ 2 )
=96.866/4974.4325
=1.95 %

where

Invested Capital(Q: Dec. 2024 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5766.29 - 600.695 - ( 144.205 - max(0, 834.67 - 2058.025+144.205))
=5021.39

Invested Capital(Q: Mar. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5613.825 - 558.7 - ( 127.65 - max(0, 888.925 - 2028.525+127.65))
=4927.475

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Tronox Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Mar. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-236.8/( ( (2562.265 + max(1195.66, 0)) + (2472.525 + max(1235.8, 0)) )/ 2 )
=-236.8/( ( 3757.925 + 3708.325 )/ 2 )
=-236.8/3733.125
=-6.34 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(254.03 + 1481.205 + 176.675) - (600.695 + 0 + 115.555)
=1195.66

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(295.075 + 1484.625 + 119.325) - (558.7 + 0 + 104.525)
=1235.8

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Tronox Holdings's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2025 )/Revenue (Q: Mar. 2025 )
=23.125/682.65
=3.39 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Tronox Holdings Operating Income Related Terms

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Tronox Holdings Business Description

Traded in Other Exchanges
Address
263 Tresser Boulevard, Suite 1100, Stamford, CT, USA, 06901
Tronox Holdings PLC is a vertically integrated manufacturer of TiO2 pigment. It operates titanium-bearing mineral sand mines and beneficiation and smelting operations in Australia & South Africa to produce feedstock materials that can be processed into TiO2 for pigment, high-purity titanium chemicals, including titanium tetrachloride, and ultrafine TiO2 used in certain specialty applications. TiO2 and titanium feedstock, are used to produce paints and coatings, as well as plastics, paper, and printing ink. It has three pigment production facilities in the United States, the Netherlands, and Western Australia and three mining operations in Western Australia and South Africa. Europe, the Middle East, and Africa regions contribute the majority of revenue.

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