Stock fact sheet · data as of
Tronox Holdings plc (TROX): fair value, margin of safety and Wheel Score
Ticker symbol TROX · Basic Materials · Chemicals · United States · Speculative Income
Is TROX undervalued?
TROX has a margin of safety of 62%: the stock closed at 3.55 on 5 Nov 2026 against a GLS average fair value of 9.46. 1 of the 2 valuation models that produced a number sit above the price. Our scans treat a discount this large as a strong starting point for a cash-secured put, not as a verdict - the fair value is a model output, and a wide gap can mean the models are missing something the market knows.
The average is built from just 2 models (DCF, DDM) - the rest returned nothing because an input they need (dividends, free cash flow, book value) is zero or negative - so treat it with more caution than usual.
The nightly engine files TROX under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan. It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for TROX
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 15.97 | +350% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 2.94 | -17% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | -15.67 | -541% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 5.86 | +65% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Tronox Holdings plc scores only 4 of 9 on the Piotroski F-score, which fails the "Piotroski 6 or more" Wheel Trade Filter. A reading this low means several of the basic tests - positive earnings, positive operating cash flow, falling debt, no new share issuance - are not met. A GLS Moat score of 2.2/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are thin or negative - ROIC -9.4%, ROE -33.1%, ROA -7.6% - with debt at 2.53 times equity and negative free cash flow. Debt of 2.53 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is high at 5.63% (payout ratio -8%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual. Revenue comes mainly from Ti O2 81%, Zircon 11%, Other Products 8% (quarter Q2 FY2026).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 4 / 9 | ROIC | -9.4% |
|---|---|---|---|
| GLS Moat | 2.2 / 10 | ROE | -33.1% |
| Debt / equity | 2.53 | ROA | -7.6% |
| Free-cash-flow yield | -28.0% | Payout ratio | -8% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 31: Weak
With a Wheel Score of 31 Tronox Holdings plc sits in the Weak band. It fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 4, financially healthy - Piotroski 4/9 (under 6); and filter 5, can repay its debt - 54.2 years to repay its debt (over 3); and filter 6, no serious red flags - Red Flags score 45 (under 60); and filter 7, a premium worth selling - implied volatility 96% (over 80%); and filter 8, big enough - market cap $567M (under $1.0B); and filter 9, not a penny stock - price 3.55 (under $5); Red Flags (weak) is its weakest part.
Implied volatility is 96%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is thin - 1,152 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 4.5M shares a day on a market cap of $567M, with a beta of 0.77 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Fails | Piotroski 4/9 (under 6) |
| 5 | Can repay its debt | Fails | 54.2 years to repay its debt (over 3) |
| 6 | No serious red flags | Fails | Red Flags score 45 (under 60) |
| 7 | A premium worth selling | Fails | implied volatility 96% (over 80%) |
| 8 | Big enough | Fails | market cap $567M (under $1.0B) |
| 9 | Not a penny stock | Fails | price 3.55 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 62% below fair value | |
| Premium | Fair | implied volatility 96% | |
| Moat | Weak | moat 2.2/10 | |
| Health | Fair | Piotroski 4/9 | |
| Red Flags | Weak | Red Flags score 45/100 | |
| Option trading | Weak | 1,086 contracts a day, 1,152 open interest | |
| Stability | Fair | beta 0.77, $567M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for TROX in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Chemicals
The 12 companies below are the closest to Tronox Holdings plc by market cap within the Chemicals industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| BAK Braskem S.A. | 1.12 | 19.23 | +94% | 30No options | $446M |
| VHI Valhi, Inc. | 15.21 | 34.64 | +56% | 30No options | $431M |
| WLKP Westlake Chemical Partners LP | 21.61 | 90.63 | +76% | 53Fair | $762M |
| LXU LSB Industries, Inc. | 10.64 | 14.95 | +29% | 45Weak | $766M |
| GPRE Green Plains Inc. | 13.66 | 21.29 | +36% | 47Weak | $958M |
| REX REX American Resources Corporation | 39.60 | 97.70 | +59% | 48Weak | $1.3B |
| HUN Huntsman Corporation | 9.95 | 39.90 | +75% | 41Weak | $1.7B |
| OLN Olin Corporation | 18.08 | 39.09 | +54% | 46Weak | $2.1B |
| MEOH Methanex Corporation | 65.22 | 102.63 | +36% | 50Fair | $5.0B |
| CE Celanese Corporation | 49.75 | 84.54 | +41% | 51Fair | $5.5B |
| NPT Texxon Holding Limited Ordinary shares | 1.79 | - | - | 11No options | $40M |
| SSL Sasol Limited | 15.28 | 19.76 | +23% | 76Good | $9.8B |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about TROX
Is TROX undervalued right now?
By the GLS models, yes: at 3.55 the stock is 62% below the average fair value of 9.46 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of TROX and what does it mean?
TROX scores 31 out of 100 (Weak) - it fails Wheel Trade Filters 2, 4, 5, 6, 7, 8, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for TROX?
9.46 per share as of 5 Nov 2026 - the simple average of the 2 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Tronox Holdings plc report earnings next?
No upcoming earnings date is recorded for TROX in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does TROX have listed options, and how liquid are they?
Yes. The nightly snapshot found 12 listed contracts with 1,152 open interest across all expiries and implied volatility of 96% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.