TOR Minerals International (TORM) Stock Analysis & Winston Score

TOR Minerals International makes specialty mineral pigments and additives used in paints, coatings, plastics, and industrial products. Its main product is HITOX, a titanium dioxide-based pigment that gives products their white color and helps block ultraviolet light. The company sells primarily to manufacturers in the coatings and plastics industries.

TOR Minerals earns revenue by selling its mineral products directly to industrial customers. It operates manufacturing facilities in the United States and Malaysia, giving it a small but international footprint. The company is quite small, with a market cap near zero and negative operating margins, meaning it currently spends more than it earns. Its main competitive challenge is competing against much larger titanium dioxide producers who have greater scale and lower costs. The key risk is that thin margins and negative returns on capital leave little room for error if raw material costs rise or customer demand weakens.

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

+2.5% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+179.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$35,000/ year

↓ Declining (-69% vs prior year)

0.2% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

31.9%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~2 years

$2M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

$2M cash & investments at current burn rate

Growth context

TOR Minerals International is growing revenue at 2% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

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

0.0% over 4y

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

Diluted shares outstanding: 3.5M (2021) → 3.5M (2025)

Score breakdown

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Quality

Gross Margin

16.9%

Thin — 16.9% gross margin

Operating Margin

3.9%

Thin — 3.9% 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%

Nearly flat sales (1.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

3.0%

Thin free cash flow (3.0%)

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

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Stability

Debt / Equity

0.06

Conservative — low debt load (0.06)

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

Not applicable for this business.

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