Kronos Worldwide Inc

Industrials
Major Chemicals
www.kronostio2.com

Earnings Score
Moat Score
Safety Score

Market Cap $859.05M
PE 10
Debt $586.70M
Cash $114.70M
EV $1.33B
FCF $43.00M

Earnings

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Sales & Net Margins

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Earnings	$86.20M
EBIT	$149.60M
ROE	11%
ROA	8%
FCF	$43.00M
Equity	$817.00M
Growth Stability	-52%
PE	9.97
PEG	-0.86
PB	1.05
P/FCF	19.98
P/S	0.46
Price/Cash	0.13
Debt/Equity	0.72
Debt/FCF	13.64
Net Margins	5%
Gross Margins	19%
Op. Margins	8%
Earnings CAGR	-12%
Sales Growth YoY	6%
Sales Growth QoQ	-13%
Sales CAGR	3%
FCF CAGR	-2%
Equity CAGR	7%
Earnings Stability	0.15
Earnings Growth YoY	149%
Earnings Growth QoQ	-118%
Earnings CAGR 5Y	-12%

Sales CAGR 5Y	1%
FCF CAGR 5Y	-6%
Equity CAGR 5Y	1%
Earnings CAGR 3Y	-5%
Sales CAGR 3Y	-5%
FCF CAGR 3Y	-8%
Equity CAGR 3Y	-6%
Market Cap	$859.05M
Revenue	$1.89B
Dividend Yield	6%
Payout Ratio	64%
Assets	$1.91B
Total Debt	$586.70M
Cash	$114.70M
Shares Outstanding	115M
EV	1.33B
Earnings Score	5%
Moat Score	84%
Safety Score	44%
Final Score	44%
Working Capital	628.7M
Current Ratio	2.32
Gross Profit	$359.30M
Shares Growth 3y	-0%
Equity Growth QoQ	-4%
Equity Growth YoY	1%

Assets & ROA

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Stockholders Equity & ROE

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Kronos Worldwide Inc manufactures and sells titanium dioxide pigments. Titanium dioxide is a white inorganic pigment used in a variety of products. The majority of Kronos' sales come from titanium dioxide used for coatings on automobiles, aircraft, machines, appliances, traffic paint, and in both commercial and residential interiors and exteriors. The second- largest product category is titanium dioxide used for plastics such as packaging materials and food packaging, houseware, appliances, toys, and computer cases. The majority of revenue comes from Europe.

SEC Filings

Direct access to Kronos Worldwide Inc (KRO) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Kronos Worldwide Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Kronos Worldwide Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -12%

Stability 15%

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Kronos Worldwide Inc Discounted Cash Flow

Fully customizable DCF calculator online for Kronos Worldwide Inc.

Years

Calculation mode

= $379M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$43M	$42M	$41M	$41M	$40M	$39M	$38M	$38M	$37M	$36M	$36M	$356M
DCF		$38M	$34M	$31M	$27M	$24M	$22M	$19M	$17M	$15M	$14M	$137M
Value	$379M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	-13%	3%	21%	12%	5%	4%	6%	5%	-3%	5%	5%
ROA	-	7%	18%	17%	7%	6%	9%	8%	-3%	8%	8%
ROE	-	11%	47%	24%	11%	8%	13%	11%	-6%	11%	11%

Bad Net Margins (4.57%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	9.48	2.28	3.51	4.3	12.41	3.08	23.17	-10.56	13.64	13.64
Debt over Equity	0.76	0.88	0.64	0.55	0.55	0.62	0.52	0.45	0.55	0.72	0.72
Growth Stability	-	-	-	100%	43%	30%	95%	100%	-52%	100%	-52%

Bad Debt/FCF ratio (13.64)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.72)

The company is not overleveraged and has a good balance between equity and debt.

Bad Graham’s Stability (-52%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	1%	27%	-4%	4%	-5%	18%	-0%	-14%	13%	1%
Earnings YoY growth	-	-125%	719%	-42%	-58%	-27%	77%	-7%	-147%	-276%	-12%
Equity YoY growth	-	-14%	91%	11%	-3%	-2%	9%	10%	-16%	1%	1%
FCF YoY growth	-	632%	479%	-38%	-20%	-62%	273%	-87%	-326%	-203%	-6%