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Air Products & Chemicals vs Tronox Holdings: APD and TROX compared
Air Products & Chemicals is the larger company: $3.6B of revenue in its latest quarter (Q4 FY26) against $827M for Tronox Holdings (Q3 2026). Tronox Holdings is growing faster (+18% against +12% a year earlier). Air Products & Chemicals is more profitable, with an operating margin of 17.8% against 1.5%.
Where the money goes: APD and TROX
Air Products & Chemicals (APD) · Q4 FY26
Air Products & Chemicals, Q4 FY26: revenue $3.6B (+12% year over year), operating margin 17.8%, net earnings $584M. The chart follows the revenue to costs, profit and cash.
Tronox Holdings (TROX) · Q3 2026
Tronox Holdings, Q3 2026: revenue $827M (+18% year over year), operating margin 1.5%, net loss $56.0M, operating cash flow $62.0M. The chart follows the revenue to costs, profit and cash.
| Air Products & Chemicals (APD) | Tronox Holdings (TROX) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $3.6B | $827M |
| Revenue growth, Y/Y | +12% | +18% |
| Operating margin | 17.8% | 1.5% |
| Net earnings | $584M | −$56.0M |
| Net margin | 16.4% | -6.8% |
| Operating cash flow | — | $62.0M |
| Free cash flow | — | $5.0M |
| Market value | $67.9B | $401M |
| Analysts’ mean target | $342.67 | $4.75 |
Where the revenue comes from
Tronox Holdings
- TiO2: $653M (79%)
- Zircon: $93.0M (11%)
- Other Products: $81.0M (10%)
Questions
Which is bigger, Air Products & Chemicals or Tronox Holdings?
Air Products & Chemicals is the larger company: $3.6B of revenue in its latest quarter (Q4 FY26) against $827M for Tronox Holdings (Q3 2026).
Is Air Products & Chemicals or Tronox Holdings growing faster?
Tronox Holdings is growing faster (+18% against +12% a year earlier).
Which is more profitable, Air Products & Chemicals or Tronox Holdings?
Air Products & Chemicals is more profitable, with an operating margin of 17.8% against 1.5%.
More: Air Products & Chemicals earnings · how Air Products & Chemicals makes money · Tronox Holdings earnings · how Tronox Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Nov 5, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.