KRONOS WORLDWIDE INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KRONOS WORLDWIDE INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,364	1,729	1,662	1,731	1,639	1,939	1,930	1,667	1,887	1,859
Cost of revenue	1,100	1,159	1,100	1,345	1,288	1,493	1,539	1,502	1,528	1,646
Gross profit	265	570	562	386	351	446	391	165	359	213
Research and development	13	18	16	17	16	17	15	18	14	16
Selling, general and administrative	169	201	228	228	219	249	231	211	226	245
Operating income	92.9	348	330	146	116	187	160	-56	123	-36.5
Interest expense	20.5	19	19.5	18.7	19	19.6	16.9	17.1	42.9	53
Interest income	0.6	1.4	5.5	6.7	1.8	0.4	5.1	6.9	5.5	1.2
Pre-tax income	61.2	306	294	121	80	153	134	-72.9	150	-97.4
Income tax	17.9	-48.8	88.8	34	16.1	40.5	29.4	-23.8	63.4	13.5
Net income	43.3	355	205	87.1	63.9	113	105	-49.1	86.2	-111
EBITDA	133	389	380	194	174	238	211	-7.4	183	24
EPS, basic	0.37	3.06	1.77	0.75	0.55	0.98	0.90	-0.43	0.75	-0.96
EPS, diluted	0.37	3.06	1.77	0.75	0.55	0.98	0.90	-0.43	0.75	-0.96
Shares, basic (weighted)	116	116	116	116	116	0	116	115	115	115
Shares, diluted (weighted)	116	116	116	116	116	0	116	115	115	115
Dividend per share	0.60	0.60	0.68	0.72	0.72	0.72	0.76	0.76	0.48	0.20

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	50.7	322	373	391	355	406	328	195	107	33.2
Receivables	241	319	300	303	320	361	252	295	292
Inventory	344	382	498	503	519	432	609	565	657	629
Other current assets	10	10	16.3	15	19	38.5	48.6	43.4	47	41.1
Total current assets	650	1,063	1,201	1,220	1,218	1,258	1,242	1,117	1,105	995
Property, plant and equipment	434	506	486	491	525	503	485	483	694	724
Lease right-of-use assets				29	26.1	19.9	21.5	22.7	20.6	19.9
Goodwill									2.6	2.6
Long-term investments					2.2	4.2	3.2	2.2	3.4	1.8
Other non-current assets	2.2	5.5	3.6	5.3	6.5	14.1	13.3	13.3	27.7	32.4
Total assets	1,180	1,824	1,898	1,966	2,037	2,013	1,934	1,838	1,914	1,817
Accounts payable	84.9	108	103	137	111	144	177	219	232	224
Accrued liabilities	17.7	27	27.9	21.1	27.8	28.9	22.9	24.7	26.7	26
Short-term debt	3.6	0.7	1.5	1.5	0.7	1.4	1.1		78.3
Total current liabilities	182	232	233	271	260	289	327	371	477	369
Long-term debt	335	474	455	444	487	450	424	441	429	557
Lease liabilities				22.2	18.8	15.8	17.4	18.6	17.1	15.7
Other non-current liabilities	22.4	29.2	28.8	28.2	26.7	28	20.5	21.8	31.7	27.7
Total liabilities	785	1,070	1,058	1,150	1,240	1,143	977	1,030	1,097	1,066
Total debt	339	475	457	446	487	451	425	441	507	557
Paid-in capital	1,399	1,399	1,399	1,396	1,395	1,395	1,394	1,390	1,390	1,390
Retained earnings	-552	-267	-136	-133	-152	-122	-105	-242	-211	-345
Treasury stock						-0.2	-1.4
Other comprehensive income	-453	-379	-424	-449	-448	-404	-332	-341	-364	-296
Shareholders' equity	395	754	840	816	797	870	957	808	817	751
Total equity	395	754	840	816	797	870	957	808	817	751
Total liabilities and equity	1,180	1,824	1,898	1,966	2,037	2,013	1,934	1,838	1,914	1,817
Shares outstanding				116	116	116	115	115	115	115

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	43.3	355	205	87.1	63.9	113	105	-49.1	86.2	-111
Depreciation and amortization	40.5	41.2	49.7	48.1	58.1	51.3	51.7	48.6	60.4	60.5
Deferred income tax	7.7	-152	27.3	6.5	-3.2	14.3	-1.4	-39.3	31.3	-0.5
Change in inventory	38.8	-4.9	-136	-7.1	13.3	65.8	-198	56.3	-43.1	77
Change in payables	-12.9	20.7	16.4	24.6	-33.2	47.2	36.7	33.9	11.6	-25.6
Cash from operations	89.6	276	189	160	103	207	81.7	5.5	72.5	2.5
Capital expenditures	-53	-64.3	-56.3	-55.1	-62.8	-58.6	-63.2	-47.4	-29.5	-42.9
Cash from investing	-53	-77.9	-42.7	-52.5	-61.3	-58.6	-63.1	-47.4	-186	-42.9
Debt issued	266	732
Debt repaid	-270	-594	-1.5	-1.5	-1.1	-1.4	-1.3	-1.1	-52.6	-88
Share buybacks				-3	-1	-0.2	-2.3	-2.9
Dividends paid	-69.5	-69.5	-78.8	-83.4	-83.2	-83.2	-87.8	-87.5	-55.2	-23
Cash from financing	-73.3	58.8	-80.4	-87.9	-85.3	-86.7	-91.5	-91.6	26.5	-36.3
Exchange rate effect	-5.3	14.4	-14.4	-2.3	13.8	-10.6	-5.1	1	-0.1	4.5
Net change in cash	-42	271	51	17.6	-30.3	50.6	-78	-133	-87.4	-72.2
Free cash flow	36.6	212	132	105	39.7	148	18.5	-41.9	43	-40.4
Interest paid	18.4	15.2	18.5	17.4	18	18	15.7	15.8	38.2	47.4
Income taxes paid	6.6	37.1	67.9	35.8	15.3	41.6	37.3	17.3	34.5	44.9

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $8.25 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	11.8%	Gross profit / revenue.
Operating margin	-1.7%	Operating income / revenue.
EBITDA margin	1.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-5.0%	Pre-tax income / revenue.
Net margin	-5.6%	Net income / revenue.
Operating cash flow margin	4.4%	Cash from operations / revenue.
Return on equity (ROE)	-14.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.3%	Net income / average total assets.
Return on invested capital (ROIC)	-2.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	12.8%	Selling, general and administrative expense / revenue.
D&A / revenue	3.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-1.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-40.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-18.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-9.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-129.7%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-86.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-51.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-32.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-228.7%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-228.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-96.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-68.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-52.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-194.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Dividend per share growth, 1y	-58.3%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-35.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-22.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-8.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-1.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.1%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-0.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.30x	Current assets / current liabilities.
Quick ratio	0.09x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.09x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.76x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	32.7%	Total debt / total assets.
Liabilities / assets	56.9%	Total liabilities / total assets.
Net debt	$543.0M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	17.7x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-0.56x	Operating income / interest expense.
Working capital	$656.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$748.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.11x	Revenue / average total assets.
Fixed asset turnover	2.75x	Revenue / average property, plant and equipment.
Inventory turnover	3.44x	Cost of revenue / average inventory.
Days inventory	106 days	365 x average inventory / cost of revenue.
Days payables	37 days	365 x average accounts payable / cost of revenue.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.95	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$16.88	Revenue / diluted weighted shares.
Operating cash flow per share	$0.75	Cash from operations / diluted weighted shares.
Book value per share	$6.52	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.50	Tangible book value / shares outstanding.
Cash per share	$0.23	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$949.6M	Share price x shares outstanding.
Enterprise value	$1.49B	Market cap + total debt - cash - short-term investments.
P/S	0.49x	Market cap / revenue.
P/B	1.26x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.27x	Market cap / tangible book value, when positive.
P/OCF	11.0x	Market cap / cash from operations, when positive.
EV/Sales	0.77x	Enterprise value / revenue.
EV/EBITDA	48.8x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-11.5%	Net income / market cap (the inverse of P/E).
Dividend yield	2.4%	Dividends paid over the period / market cap.
Shareholder yield	2.4%	(Dividends paid + share buybacks) / market cap.

What was KRONOS WORLDWIDE INC's revenue in fiscal 2025?

KRONOS WORLDWIDE INC reported revenue of $1.86B for fiscal 2025, 1.5% lower than the year before.

Was KRONOS WORLDWIDE INC profitable in fiscal 2025?

No. It reported a net loss of $110.9M.

How much free cash flow did KRONOS WORLDWIDE INC generate in fiscal 2025?

Cash from operations of $2.5M minus capital expenditures of $42.9M left free cash flow of -$40.4M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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