Filing Flows › Tronox Holdings (TROX) › Q4 2025
Tronox Holdings (TROX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 20, 2026
Tronox Holdings (TROX) reported revenue of $730M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +4% from the quarter before. Operating margin was -15.6%, net loss $177M (24.2% of revenue).
Tronox Holdings, Q4 2025: revenue $730M (+8% year over year), operating margin -15.6%, net loss $177M, operating cash flow $121M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $730M | +4% | +8% |
| Operating profit | −$114M | — | — |
| Net earnings | −$177M | — | — |
| Operating cash flow | $121M | — | +48% |
| Free cash flow | $53.0M | — | — |
What changed
Revenue was $730.0M in Q4 2025, up 8% year over year and up 4% from the previous quarter.
Gross margin was 5.3%, down 12.0 points from a year earlier. Operating costs exceeded revenue by $114.0M, an operating margin of -15.6%. Operating expenses grew 122% against revenue growth of 8%. The quarter ended with a net loss of $177.0M, wider than the previous quarter's $100.0M loss. Minority interests bore $1.0M of it: to shareholders the quarter was a loss of $176.0M.
Operating cash flow was $121.0M (up 48% year over year). Non-cash charges added back $82.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $210.0M. Capital expenditures of $68.0M left free cash flow of $53.0M.
Questions
What was Tronox Holdings' revenue in the fourth quarter 2025?
Tronox Holdings (TROX) reported revenue of $730M for the fourth quarter 2025 (Q4 2025), +8% from a year earlier and +4% from the quarter before.
Was Tronox Holdings profitable in the fourth quarter 2025?
Operating loss was $114M (-15.6% of revenue) and net loss $177M.
Source: Tronox Holdings 10-K on SEC EDGAR.