Kronos Worldwide (KRO) Stock Analysis & Winston Score

Kronos Worldwide makes titanium dioxide, a white powder used to make paint, plastics, and paper look bright and opaque. Its main customers are paint manufacturers, packaging companies, and industrial product makers. Kronos is one of the larger titanium dioxide producers in the world, competing in a commodity chemical market that goes through regular boom-and-bust cycles.

The company earns money by selling titanium dioxide by volume to industrial buyers, so its profits depend heavily on the price of the chemical and the cost of raw materials like titanite ore. Kronos operates plants mainly in Europe and North America, generating roughly $1.6 billion in annual revenue. Its thin and currently negative margins highlight the core risk: titanium dioxide is a commodity, meaning Kronos has little pricing power when demand is weak or supply is high, and a recovery in profitability depends largely on a rebound in global industrial and construction activity.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.1% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-126.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$16M/ year

↑ Rising (+14% vs prior year)

0.9% of revenue

Below sector average (3%)

R&D investment increasing — building for the future

Insider Activity

81.4%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~1 months

$28M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Kronos Worldwide has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.4% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 115.5M (2021) → 115.0M (2025)

Score breakdown

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Quality

Gross Margin

16.3%

Thin — 16.3% gross margin

Operating Margin

3.5%

Thin — 3.5% operating margin

ROCE

1.3%

Weak — 1.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

-1.0%

Shrinking sales (-1.0% YoY)

EPS YoY

-238.3%

Earnings shrinking (-238.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

1.3%

Thin free cash flow (1.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.81

Moderate — manageable debt (0.81)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

3.35%

Moderate income — 3.35% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+0.0%

Dividend flat

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