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Tronox vs Valhi: revenue, profit, margins and growth compared

Tronox brought in $2.9B of revenue in fiscal 2025, Valhi $2.1B in fiscal 2025. Revenue changed by -5.7% at Tronox and -1.3% at Valhi on the year before, so Valhi grew faster. Tronox kept -16.2% of its revenue as net profit, Valhi -2.8%. Free cash flow was -$281M at Tronox and -$82.1M at Valhi.

Side by side, latest fiscal year

TROXVHI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.9B$2.1B
Revenue growth-5.7%-1.3%
Net income-$470M-$57.6M
Net margin-16.2%-2.8%
Free cash flow-$281M-$82.1M
Free cash flow margin-9.7%-4.0%
Earnings per share (diluted)-$2.97-$2.02
Cash$199M$214M
Debt$39M$591.7M
Price to earningsn/an/a
Market value$643.6M$452.9M
Dividend yield8.68%2.00%
Rank by revenue in sector#17 of 71 · Basic materials#22 of 71 · Basic materials

Over the years

Revenue
TROX FY2018: $1.8BTROX FY2019: $2.6BTROX FY2020: $2.8BTROX FY2021: $3.6BTROX FY2022: $3.5BTROX FY2023: $2.9BTROX FY2024: $3.1BTROX FY2025: $2.9BVHI FY2018: $1.8BVHI FY2019: $1.9BVHI FY2020: $1.8BVHI FY2021: $2.3BVHI FY2022: $2.2BVHI FY2023: $1.9BVHI FY2024: $2.1BVHI FY2025: $2.1BFY18FY19FY20FY21FY22FY23FY24FY25
TROX $2.9BVHI $2.1B
Net income
TROX FY2018: -$7MTROX FY2019: -$109MTROX FY2020: $969MTROX FY2021: $286MTROX FY2022: $497MTROX FY2023: -$316MTROX FY2024: -$48MTROX FY2025: -$470MVHI FY2018: $262.2MVHI FY2019: $49.2MVHI FY2020: $55.2MVHI FY2021: $127.2MVHI FY2022: $87.2MVHI FY2023: -$9.9MVHI FY2024: $108MVHI FY2025: -$57.6MFY18FY19FY20FY21FY22FY23FY24FY25
TROX -$470MVHI -$57.6M
Net margin
TROX FY2018: -0.4%TROX FY2019: -4.1%TROX FY2020: 35.1%TROX FY2021: 8.0%TROX FY2022: 14.4%TROX FY2023: -11.1%TROX FY2024: -1.6%TROX FY2025: -16.2%VHI FY2018: 14.4%VHI FY2019: 2.6%VHI FY2020: 3.0%VHI FY2021: 5.5%VHI FY2022: 3.9%VHI FY2023: -0.5%VHI FY2024: 5.1%VHI FY2025: -2.8%FY18FY19FY20FY21FY22FY23FY24FY25
TROX -16.2%VHI -2.8%
Revenue growth
TROX FY2019: +45.2%TROX FY2020: +4.4%TROX FY2021: +29.5%TROX FY2022: -3.3%TROX FY2023: -17.5%TROX FY2024: +7.9%TROX FY2025: -5.7%VHI FY2019: +4.3%VHI FY2020: -2.5%VHI FY2021: +24.1%VHI FY2022: -3.2%VHI FY2023: -13.5%VHI FY2024: +9.5%VHI FY2025: -1.3%FY19FY20FY21FY22FY23FY24FY25
TROX -5.7%VHI -1.3%
Free cash flow
TROX FY2018: $53MTROX FY2019: $214MTROX FY2020: $160MTROX FY2021: $468MTROX FY2022: $170MTROX FY2023: -$77MTROX FY2024: -$70MTROX FY2025: -$281MVHI FY2018: $104.1MVHI FY2019: $117.3MVHI FY2020: $86.7MVHI FY2021: $395.6MVHI FY2022: -$32.7MVHI FY2023: -$44.6MVHI FY2024: $13.1MVHI FY2025: -$82.1MFY18FY19FY20FY21FY22FY23FY24FY25
TROX -$281MVHI -$82.1M

Fiscal years as each company reports them; the two may end in different months.

Questions about Tronox and Valhi

Which is bigger by revenue, Tronox or Valhi?

Tronox is bigger by revenue: $2.9B in fiscal 2025, against $2.1B for Valhi in fiscal 2025.

Which keeps more of its revenue as profit, Tronox or Valhi?

Tronox had a net margin of -16.2% in fiscal 2025; Valhi had -2.8% in fiscal 2025.

Which grew revenue faster, Tronox or Valhi?

In their latest fiscal years revenue changed by -5.7% at Tronox and -1.3% at Valhi.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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