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1. Company Snapshot

1.a. Company Description

Kronos Worldwide, Inc.produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally.The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.


It also produces ilmenite, a raw material used directly as a feedstock by sulfate-process TiO2 plants; iron-based chemicals, which are used as treatment and conditioning agents for industrial effluents and municipal wastewater, as well as in the manufacture of iron pigments, cement, and agricultural products; specialty chemicals for use in the formulation of pearlescent pigments, and production of electroceramic capacitors for cell phones and other electronic devices, as well as for use in pearlescent pigments, natural gas pipe, and other specialty applications.In addition, the company provides technical services for its products.It sells its products under the KRONOS brand through agents and distributors to paint, plastics, decorative laminate, and paper manufacturers.


The company was founded in 1916 and is headquartered in Dallas, Texas.Kronos Worldwide, Inc.operates as a subsidiary of Valhi, Inc.

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1.b. Last Insights on KRO

Kronos Worldwide's recent performance was negatively impacted by a dividend cut, persistent negative free cash flow, and rising debt. The company's dividend yield has decreased to 2.99%, lagging behind safer alternatives like US Treasuries. Additionally, declining earnings estimates and high interest expenses have constrained both dividend and reinvestment potential.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Kronos Worldwide Earnings Miss Estimates in Q3 on Lower Volumes

Nov -14

Source: zacks.com

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Kronos Worldwide (KRO) Reports Q3 Loss, Lags Revenue Estimates

Nov -07

Source: zacks.com

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Kronos Worldwide, Inc. Reports Third Quarter 2025 Results

Nov -06

Source: globenewswire.com

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KRONOS WORLDWIDE, INC. ANNOUNCES QUARTERLY DIVIDEND

Oct -29

Source: globenewswire.com

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KRONOS WORLDWIDE, INC. ANNOUNCES EXPECTED THIRD QUARTER 2025 EARNINGS RELEASE DATE

Oct -14

Source: globenewswire.com

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KRONOS WORLDWIDE, INC. ANNOUNCES EXPECTED THIRD QUARTER 2025 EARNINGS RELEASE DATE

Oct -14

Source: globenewswire.com

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DoorDash Extends Kroger Partnership to 2,700 New Stores

Sep -29

Source: pymnts.com

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Kronos Worldwide, Inc. Prices Private Offering of an Additional €75 Million of 9.50% Senior Secured Notes Due 2029

Sep -03

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.00%)

6. Segments

Titanium Dioxide Pigments

Expected Growth: 12.0%

Strong demand from coatings and plastics industries, driven by infrastructure development and automotive growth, coupled with Kronos' cost leadership and operational efficiency, contribute to the 12.0% growth of Titanium Dioxide Pigments.

7. Detailed Products

Titanium Dioxide (TiO2) Pigments

Kronos Worldwide, Inc. produces a range of titanium dioxide (TiO2) pigments used in coatings, plastics, and paper applications.

Titanium Dioxide (TiO2) Specialty Grades

Kronos offers specialty grades of TiO2 for specific applications, including cosmetics, food, and pharmaceuticals.

Functional Additives

Kronos provides functional additives, including surface treatments and dispersants, to enhance the performance of TiO2 pigments.

8. Kronos Worldwide, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Kronos Worldwide, Inc. is medium due to the availability of alternative products and services in the titanium dioxide market.

Bargaining Power Of Customers

The bargaining power of customers for Kronos Worldwide, Inc. is low due to the company's strong market position and limited buyer concentration.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Kronos Worldwide, Inc. is medium due to the presence of multiple suppliers and moderate switching costs.

Threat Of New Entrants

The threat of new entrants for Kronos Worldwide, Inc. is low due to the high barriers to entry in the titanium dioxide market, including significant capital requirements and regulatory hurdles.

Intensity Of Rivalry

The intensity of rivalry for Kronos Worldwide, Inc. is high due to the competitive nature of the titanium dioxide market, with multiple players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 36.44%
Debt Cost 5.48%
Equity Weight 63.56%
Equity Cost 9.88%
WACC 8.27%
Leverage 57.33%

11. Quality Control: Kronos Worldwide, Inc. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Hudson Technologies

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Value: 5.3

Growth: 7.6

Quality: 6.5

Yield: 0.0

Momentum: 8.0

Volatility: 4.7

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Ecovys

A-Score: 5.3/10

Value: 7.3

Growth: 3.3

Quality: 2.6

Yield: 5.0

Momentum: 8.0

Volatility: 5.3

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Core Molding Technologies

A-Score: 5.2/10

Value: 7.2

Growth: 5.9

Quality: 5.3

Yield: 0.0

Momentum: 7.0

Volatility: 5.7

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Kronos Worldwide

A-Score: 5.0/10

Value: 9.1

Growth: 2.7

Quality: 5.0

Yield: 9.0

Momentum: 0.0

Volatility: 4.3

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NTIC

A-Score: 4.3/10

Value: 6.8

Growth: 5.8

Quality: 5.2

Yield: 3.0

Momentum: 0.5

Volatility: 4.3

1-Year Total Return ->

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Koppers

A-Score: 3.8/10

Value: 6.7

Growth: 4.8

Quality: 2.7

Yield: 1.0

Momentum: 2.0

Volatility: 5.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

4.73$

Current Price

4.73$

Potential

-0.00%

Expected Cash-Flows