Kronos Worldwide, Inc. (KRO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-44.5%

$4.24

vs $7.64 price

Levered DCF

-$1.96

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.74

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-4.6×	13×	-23.12×	10.44×	15.32×	27.11×	17.87×	6.51×
P/B	0.68×	1.37×	1.42×	1.13×	1.99×	2.16×	1.9×	1.59×
P/S	0.27×	0.59×	0.69×	0.56×	0.89×	1.05×	0.9×	0.8×
EV / EBITDA	51.4×	6×	-523.26×	5.82×	7.79×	11.5×	8.4×	4×
Gross margin	11.5%	19.0%	9.9%	20.3%	23.0%	21.4%	22.3%	33.8%
Operating margin	-2.3%	6.5%	-3.4%	8.3%	9.6%	7.1%	8.4%	19.9%
Net margin	-6.0%	4.6%	-2.9%	5.4%	5.8%	3.9%	5.0%	12.3%
Current ratio	2.7×	2.32×	3.01×	3.8×	4.36×	4.68×	4.51×	5.15×
Debt / equity	0.77×	0.65×	0.57×	0.47×	0.54×	0.64×	0.58×	0.54×
Interest coverage	-0.79×	2.86×	-3.27×	9.44×	9.55×	6.12×	7.8×	16.93×
Dividend yield	4.5%	4.9%	7.6%	8.1%	4.8%	4.8%	5.4%	5.9%
Payout ratio	-20.7%	64.0%	-178.2%	84.0%	73.7%	130.2%	95.8%	38.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-14.8%	10.6%	-6.1%	10.9%	13.0%	8.0%	10.7%	24.4%
Return on invested capital	-2.9%	4.7%	-2.6%	7.7%	8.0%	5.2%	6.2%	13.8%
Return on assets	-6.1%	4.5%	-2.7%	5.4%	5.6%	3.1%	4.4%	10.8%
Free cash flow yield	-7.9%	3.8%	-3.7%	1.7%	8.5%	2.3%	6.8%	9.9%
Earnings yield	-21.8%	7.7%	-4.3%	9.6%	6.5%	3.7%	5.6%	15.4%
Enterprise value	$1B	$1.5B	$1.4B	$1.2B	$1.8B	$1.9B	$1.6B	$1.4B
Net debt / EBITDA	26.49×	1.64×	-99.52×	0.57×	0.28×	0.96×	0.43×	0.23×
Cash conversion cycle (days)	146	158	153	151	142	188	165	194