Kronos Worldwide (NYSE:KRO) - Share price, News & Analysis

KRO fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	4/6
Financial Health	6/6
Dividends	5/6

KRO Stock Overview

Kronos Worldwide, Inc. produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally.

Rewards

Trading at 43% below our estimate of its fair value

Earnings grew by 166.9% over the past year

Risk Analysis

Earnings have declined by 29.3% per year over past 5 years

Dividend of 4.12% is not well covered by earnings

Kronos Worldwide Competitors

Tronox Holdings

NYSE:TROX

US$2.7b

Chemours

NYSE:CC

US$6.3b

Sakai Chemical Industry

TSE:4078

JP¥29.9b

Tayca

TSE:4027

JP¥26.5b

Price History & Performance

Summary of all time highs, changes and price drops for Kronos Worldwide
Historical stock prices
Current Share Price	US$18.43
52 Week High	US$18.48
52 Week Low	US$12.06
Beta	1.13
1 Month Change	15.91%
3 Month Change	31.46%
1 Year Change	13.42%
3 Year Change	42.43%
5 Year Change	-1.13%
Change since IPO	130.38%

Recent News & Updates

Apr 29

Kronos Worldwide (NYSE:KRO) Seems To Use Debt Rather Sparingly

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

	KRO	US Chemicals	US Market
7D	12.2%	-1.6%	-4.0%
1Y	13.4%	-3.4%	-13.2%

Return vs Industry: KRO exceeded the US Chemicals industry which returned -3.4% over the past year.

Return vs Market: KRO exceeded the US Market which returned -12.3% over the past year.

Price Volatility

Is KRO's price volatile compared to industry and market?
KRO volatility
KRO Average Weekly Movement	5.5%
Chemicals Industry Average Movement	7.1%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: KRO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: KRO's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1916	2,248	Robert Graham	https://kronostio2.com

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.

Kronos Worldwide Fundamentals Summary

How do Kronos Worldwide's earnings and revenue compare to its market cap?
KRO fundamental statistics
Market Cap	US$2.13b
Earnings (TTM)	US$150.80m
Revenue (TTM)	US$2.04b

14.1x

P/E Ratio

1.0x

P/S Ratio

Is KRO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
KRO income statement (TTM)
Revenue	US$2.04b
Cost of Revenue	US$1.54b
Gross Profit	US$499.80m
Other Expenses	US$349.00m
Earnings	US$150.80m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.31
Gross Margin	24.53%
Net Profit Margin	7.40%
Debt/Equity Ratio	48.7%

How did KRO perform over the long term?

See historical performance and comparison

Dividends

4.1%

Current Dividend Yield

56%

Payout Ratio

Does KRO pay a reliable dividends?

See KRO dividend history and benchmarks

When do you need to buy KRO by to receive an upcoming dividend?
Kronos Worldwide dividend dates
Ex Dividend Date	Jun 03 2022
Dividend Pay Date	Jun 16 2022
Days until Ex dividend	8 days
Days until Dividend pay date	21 days

Does KRO pay a reliable dividends?

See KRO dividend history and benchmarks

Valuation

Is Kronos Worldwide undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

43.0%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: KRO ($18.43) is trading below our estimate of fair value ($32.31)

Significantly Below Fair Value: KRO is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: KRO is good value based on its Price-To-Earnings Ratio (14.1x) compared to the US Chemicals industry average (16.9x).

PE vs Market: KRO is good value based on its Price-To-Earnings Ratio (14.1x) compared to the US market (15.1x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate KRO's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: KRO's Price-To-Book Ratio (2.3x) is in line with the US Chemicals industry average.

Future Growth

How is Kronos Worldwide forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

5.9%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if KRO's forecast earnings growth is above the savings rate (1.9%).

Earnings vs Market: Insufficient data to determine if KRO's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KRO's revenue (5.9% per year) is forecast to grow slower than the US market (7.8% per year).

High Growth Revenue: KRO's revenue (5.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if KRO's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Kronos Worldwide performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-29.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: KRO has high quality earnings.

Growing Profit Margin: KRO's current net profit margins (7.4%) are higher than last year (3.4%).

Past Earnings Growth Analysis

Earnings Trend: KRO's earnings have declined by 29.3% per year over the past 5 years.

Accelerating Growth: KRO's earnings growth over the past year (166.9%) exceeds its 5-year average (-29.3% per year).

Earnings vs Industry: KRO earnings growth over the past year (166.9%) exceeded the Chemicals industry 30.2%.

Return on Equity

High ROE: KRO's Return on Equity (16.5%) is considered low.

Financial Health

How is Kronos Worldwide's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: KRO's short term assets ($1.3B) exceed its short term liabilities ($281.1M).

Long Term Liabilities: KRO's short term assets ($1.3B) exceed its long term liabilities ($840.6M).

Debt to Equity History and Analysis

Debt Level: KRO's net debt to equity ratio (10.4%) is considered satisfactory.

Reducing Debt: KRO's debt to equity ratio has reduced from 85.5% to 48.7% over the past 5 years.

Debt Coverage: KRO's debt is well covered by operating cash flow (29.5%).

Interest Coverage: KRO's interest payments on its debt are well covered by EBIT (11.8x coverage).

Balance Sheet

Dividend

What is Kronos Worldwide current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

4.12%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: KRO's dividend (4.12%) is higher than the bottom 25% of dividend payers in the US market (1.57%).

High Dividend: KRO's dividend (4.12%) is in the top 25% of dividend payers in the US market (4.05%)

Stability and Growth of Payments

Stable Dividend: KRO's dividends per share have been stable in the past 10 years.

Growing Dividend: KRO's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (55.9%), KRO's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (126.8%), KRO's dividend payments are not well covered by cash flows.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

6.3yrs

Average management tenure

CEO

Robert Graham (65 yo)

5.33yrs

Tenure

US$3,735,000

Compensation

Mr. Robert D. Graham has served as a Vice Chairman of the Board of CompX International Inc. since May 2018. He served as Chief Executive Officer of NL Industries, Inc. since February 2014 until June 01, 20...

CEO Compensation Analysis

Compensation vs Market: Robert's total compensation ($USD3.74M) is below average for companies of similar size in the US market ($USD5.43M).

Compensation vs Earnings: Robert's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: KRO's management team is seasoned and experienced (6.3 years average tenure).

Board Members

Experienced Board: KRO's board of directors are considered experienced (8.3 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31