Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Tronox Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -5.02%.
The historical rank and industry rank for Tronox Holdings's ROC (Joel Greenblatt) % or its related term are showing as below:
TROX'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -7.04 Med: 5.63 Max: 14.02
Current: -6.55
During the past 13 years, Tronox Holdings's highest ROC (Joel Greenblatt) % was 14.02%. The lowest was -7.04%. And the median was 5.63%.
TROX's ROC (Joel Greenblatt) % is ranked worse than 84.73% of 1604
companies
in the Chemicals industry
Industry Median: 9.4
vs TROX: -6.55
Tronox Holdings's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Tronox Holdings ROC (Joel Greenblatt) % Related Terms
Tronox Holdings ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Tronox Holdings's ROC (Joel Greenblatt) % 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.
TROX vs GPRE, WLKP, LXU: ROC (Joel Greenblatt) % Comparison
For the Chemicals subindustry, Tronox Holdings's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tronox Holdings ROC (Joel Greenblatt) % vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Tronox Holdings's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tronox Holdings's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of -5.02% mean?
Tronox Holdings (TROX) has a ROC (Joel Greenblatt) % of -5.02% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Tronox Holdings and its competitors. According to the industry distribution chart, Tronox Holdings ranks #1359 out of 1604 companies in the Chemicals industry, placing it in the top 84.7%.
Is Tronox Holdings' ROC (Joel Greenblatt) % too high?
Tronox Holdings' current ROC (Joel Greenblatt) % is -5.02%. Based on the distribution chart, Tronox Holdings ranks #1359 out of 1604 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Tronox Holdings has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tronox Holdings' ROC (Joel Greenblatt) % compare to GPRE and WLKP?
According to the Chemicals industry distribution chart, Tronox Holdings ranks #1359 out of 1604 companies for ROC (Joel Greenblatt) %. This places Tronox Holdings in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 9.40. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Chemicals company?
The median ROC (Joel Greenblatt) % among Chemicals companies is 9.40, based on 1,604 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Tronox Holdings and its competitors. For the Chemicals industry, the median ROC (Joel Greenblatt) % is 9.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tronox Holdings's current ROC (Joel Greenblatt) % is -5.02%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tronox Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tronox Holdings (TROX) is currently considered Possible Value Trap. The stock's GF Value™ is $10.72, compared to a current price of $6.14 — trading 42.7% below its estimated fair value. The current ROC (Joel Greenblatt) % is -5.02%. Tronox Holdings' overall GF Score™ is 62/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Tronox Holdings (TROX), the current ROC (Joel Greenblatt) % is -5.02% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tronox Holdings (TROX) Overvalued in 2026?
Based on GuruFocus' analysis, Tronox Holdings stock appears to be undervalued.
The current stock price of $6.14 is trading 42.7% below its estimated GF Value™ of $10.72.
GuruFocus considers Tronox Holdings to be Possible Value Trap.
Key valuation signals for TROX:
ROC (Joel Greenblatt) %: -5.02%
GF Value™: $10.72 vs. price of $6.14 (42.7% below fair value)
No single metric tells the full story. See the TROX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
62GF Score
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