Dow Inc. (DOW) vs Tronox Holdings PLC (TROX)

Dow Inc. and Tronox Holdings PLC are both Chemicals companies. Dow Inc. is the larger, with a market value of $20.7B against $603.7M — 34.2× the size. Tronox Holdings PLC grew revenue faster over the last twelve months: 3.66% against −1.20%. Dow Inc. has the higher net margin (−3.13% vs −18.0%) and the higher return on invested capital (−0.12% vs −3.25%). Both pay a dividend; Tronox Holdings PLC yields more (5.51% vs 4.93%). Across the 20 metrics below, Dow Inc. leads on 14 and Tronox Holdings PLC on 6.

Valuation

Metric DOW TROX Chemicals median
P/E n/m n/m —
P/S 0.50 0.19 0.41
P/B 1.18 0.49 1.08
Price to free cash flow 12.27 n/m 7.14
EV/EBITDA 12.70 36.04 9.56
EV/Sales 0.83 1.18 0.82
Earnings yield (6.40%) (95.32%) (11.64%)
Free cash flow yield 8.15% (25.16%) 0.00%

Profitability

Metric DOW TROX Chemicals median
Gross margin 9.89% 6.22% 16.03%
Operating margin (0.15%) (7.16%) (0.82%)
Net margin (3.13%) (17.96%) (3.05%)
Free cash flow margin 4.06% (4.78%) (0.15%)
Return on equity (7.19%) (38.26%) (5.24%)
Return on assets (2.14%) (9.05%) (2.51%)
Return on invested capital (0.12%) (3.25%) (0.75%)

Growth

Metric DOW TROX Chemicals median
Revenue growth (TTM) (1.20%) 3.66% 2.53%
EPS growth (last fiscal year) (335.67%) (858.06%) (39.53%)
Revenue growth, 5-year CAGR 0.73% 1.00% 2.20%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DOW TROX Chemicals median
Debt to equity 1.03 2.71 0.71
Current ratio 1.75 2.55 1.99
Net debt to EBITDA 12.55 51.03 3.49

Dividend

Metric DOW TROX Chemicals median
Dividend yield 4.93% 5.51% 4.62%
Payout ratio — — —

Size

Metric DOW TROX Chemicals median
Market cap 20.65b 603.67m 603.67m

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