One-glance verdict
Within fair range
$24.55 our estimate vs market $36.89
Wall Street consensus: $56.33 (129.5% higher than our fair-value estimate)
50% above our estimate
Fundamentals snapshot
Tecnoglass Holdings Inc.
TGLS · NYQ · Basic Materials · Building Materials
Current price
$36.89
52-week range
$35.95 - $71.31
Market cap
$1.64B
Balance sheet
Healthy
39.55x Strong cushion
Net debt $140.33M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 6.8% last year.
- Reward Returns 17.0% on equity, ahead of 75% of its peers.
- Risk Operating margin compressed from 32.5% to 12.4% over 3 years.
- Risk Net debt grew 6.0% over 3 years.
What this company does
Tecnoglass Holdings Inc.
Tecnoglass manufactures and installs specialty glass and windows for large buildings like hotels, offices, and high-rise apartments. Most of their sales come from the United States construction market, so their success often depends on new buildings going up, particularly in hurricane-prone areas where their storm-proof products are popular. This focus on a specialized and high-demand product gives them a strong position in the construction industry.
How the company got here
Tecnoglass began in 1983 in Barranquilla, Colombia, and has grown into a major manufacturer of glass and aluminum building products. A key part of its story is becoming 'vertically integrated,' which means it controls many steps of its production process, from making the glass and aluminum parts to assembling the final windows and doors. This control helps them manage costs and product quality. A major turning point was listing on the New York Stock Exchange (NYSE), which gave it more visibility and access to investors, helping to fuel its growth, especially in the United States.
What it actually does
Think of the glass you see on the outside of large office buildings, hotels, and modern homes – there's a good chance Tecnoglass made it. The company manufactures high-end architectural glass, windows, and doors, along with the aluminum frames and other parts needed to install them. Their products are especially known for being impact-resistant, which is important in hurricane-prone areas like Florida. They sell these products to construction companies and developers for both new buildings and renovations.
Commercial and Multi-Family
This is the company's largest business, making up more than half of its sales. It involves selling specially designed glass and window systems for large-scale construction projects. Their customers are the developers and general contractors who build things like high-rise office buildings, hotels, airports, and apartment complexes. For these projects, Tecnoglass provides the building's outer glass shell, often called a 'curtain wall,' which protects it from the elements while letting in light.
Single-Family Residential
This part of the business focuses on making and selling windows and doors for individual houses. This is a significant and growing part of their revenue (the total money the company brings in from sales). Homebuilders and contractors buy these products for new home construction and for replacing old windows and doors in existing homes. A key feature of these products is their ability to withstand impacts and improve energy efficiency, which is a big selling point for homeowners.
What management is betting on now
The company's leadership is heavily focused on expanding its business in the United States, which already accounts for the vast majority of its sales. They are pushing to sell more products in states beyond their traditional stronghold of Florida, opening new showrooms to reach more customers. Another key bet is on growing their sales to the single-family home market and introducing new product lines, like vinyl windows, to appeal to a wider range of homebuilders and renovators. They are also investing in automation in their factories to make production more efficient.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$17.78M
FY2024 Q4
$35.44M
FY2025 Q1
$16.47M
FY2025 Q2
$-14.65M
FY2025 Q3
$21.23M
FY2025 Q4
$11.44M
FY2026 Q1
$-10.55M
FY2026 Q2
$-31.00M
Revenue
$295.29M
Net income
$24.55M
Diluted EPS
0.55
Operating cash flow
$4.40M
Free cash flow
$-31.00M
Fetching…
Sources
Revenue
$249.01M
Net income
$31.89M
Diluted EPS
0.71
Operating cash flow
$6.71M
Free cash flow
$-10.55M
Fetching…
Sources
Revenue
$245.30M
Net income
$26.11M
Diluted EPS
0.57
Operating cash flow
$31.01M
Free cash flow
$11.44M
Fetching…
Sources
Revenue
$260.48M
Net income
$47.19M
Diluted EPS
1.01
Operating cash flow
$39.99M
Free cash flow
$21.23M
Fetching…
Sources
Revenue
$5.30K
Net income
$44.08M
Diluted EPS
0.94
Operating cash flow
$17.86M
Free cash flow
$-14.65M
Fetching…
Sources
Revenue
$222.29M
Net income
$42.19M
Diluted EPS
0.90
Operating cash flow
$46.90M
Free cash flow
$16.47M
Fetching…
Sources
Revenue
$239.57M
Net income
$47.02M
Diluted EPS
1.00
Operating cash flow
$61.13M
Free cash flow
$35.44M
Fetching…
Sources
Revenue
$238.33M
Net income
$49.53M
Diluted EPS
1.05
Operating cash flow
$41.46M
Free cash flow
$17.78M
Fetching…
Sources
Is it cheap or expensive?
Fair value $24.55 vs current price $36.89
Wall Street consensus is the average analyst price target: $56.33 (129.5% higher than our fair-value estimate).
Our most-likely fair value is $24.55 a share — about 33.4% away from today's price of $36.89, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net debt $140.3M. Interest coverage 39.5x.
Net debt
$140.33M
Interest coverage
39.55x
Tecnoglass Holdings Inc.'s profit covers its interest bill about 39.5 times over. which is stronger than every peer shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
TGLS
BASELINE
Tecnoglass Holdings Inc.
Total debt $225.39M Interest coverage 39.55x This is the baseline the peer rows are being compared against.
Total debt $288.03M Interest coverage 6.04x -85% vs TGLS Carries about 6.5x less debt cushion than TGLS.
Total debt $1.43B Interest coverage -0.60x -100% vs TGLS This peer has almost no interest-payment cushion compared with TGLS.
Total debt $842.48M Interest coverage 2.12x -95% vs TGLS Carries about 18.6x less debt cushion than TGLS.
What you should know
The case for and against TGLS
3 Rewards
2 Risks
Rewards
-
Revenue grew 6.8% last year.
-
Returns 17.0% on equity, ahead of 75% of its peers.
-
Free cash flow was positive in 8/10 years.
Risks
-
Operating margin compressed from 32.5% to 12.4% over 3 years.
-
Net debt grew 6.0% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
12.68x
Forward P/E
10.84x
P/B
2.07x
P/S
1.56x
EV/EBITDA
7.94x
PEG ratio
0.49x
Profitability
How much profit each dollar creates
Gross margin
39.6%
Operating margin
12.4%
Net margin
12.4%
ROE
17.0%
ROA
8.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.29x
Current ratio
1.86x
Quick ratio
1.03x
Total debt
$225.39M
Total cash
$85.07M
Growth
How the business has been compounding
Revenue TTM
$1.05B
Revenue 5Y CAGR
18.6%
EPS TTM
2.91
EPS 5Y CAGR
1.4%
Cash flow
How much cash the business throws off
Operating CF TTM
$82.11M
Free CF TTM
$34.49M
FCF margin
3.3%
Dividend
Shareholder payout
Yield
1.7%
Payout ratio
21.1%
Last ex-div date
2026-09-30