Tecnoglass (TGLS) AI Stock Analysis

• Market Cap: $2.10B
• Dividend Yield: 1.12%
• Average Volume (3M): 309.13K
• Price to Earnings (P/E): 13.3
• Beta (1Y): 1.42
• Revenue Growth: 15.70%
• EPS Growth: 19.92%
• Country: US
• Employees: 9,837
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 0.63
• Shares Outstanding: 46,569,447
• 10 Day Avg. Volume: 395,686
• 30 Day Avg. Volume: 309,134
• PEG Ratio: -50.49
• Price to Book (P/B): 3.29
• Price to Sales (P/S): 2.39
• P/FCF Ratio: 68.10
• Enterprise Value/Market Cap: 1.03
• Enterprise Value/Revenue: 2.20
• Enterprise Value/Gross Profit: 5.15
• Enterprise Value/Ebitda: 7.91
• 1Y Price Target: $70.00
• Price Target Upside: 53.64% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 3.85
• Revenue Forecast (FY): $1.09B

• Rating: 69 Neutral
• Price Target: $50.00 ▲(9.75% Upside)
• Action: Downgraded Date: 02/28/26
• Date: Action: Downgraded 02/28/26

The score is driven primarily by strong financial performance (growth and profitability with moderate leverage) and a constructive earnings outlook supported by record backlog and solid liquidity. This is tempered by weak 2025 cash conversion and clear technical weakness (below key moving averages with negative momentum), while valuation is supportive but not enough to outweigh the near-term margin and momentum headwinds.

Positive Factors

Record backlog & book-to-bill

A $1.3B backlog and sustained book-to-bill above 1.1x provide multi-quarter revenue visibility and reduce sales cyclicality risk. This durable demand pipeline supports predictable capacity planning, pricing leverage on future projects, and steadier cash flows as backlog converts.

Multi-year revenue growth & margin resilience

Consistent multi-year revenue expansion and sustained gross margins reflect scale, product differentiation, and pricing discipline. These structural strengths support competitive positioning in architectural glass, enabling reinvestment, R&D, and sustained operating profitability amid cyclical construction demand.

Strong liquidity and low net leverage

Substantial liquidity and very low net leverage give the company flexibility to fund capex, pursue the potential U.S. facility, handle input-cost swings, and maintain buybacks/dividends. A long-dated credit facility reduces refinancing risk and supports strategic optionality.

Negative Factors

Weak 2025 cash conversion

A sharp drop in free cash flow and lower conversion of earnings into cash indicate rising working capital or reinvestment intensity. This weakens the durability of shareholder returns and reduces internal funding capacity for growth projects if the trend persists across cycles.

Input-cost and tariff sensitivity

High sensitivity to aluminum prices, regional premiums and tariff exposure creates structural margin volatility. Without durable hedges or pricing pass-through, profitability can swing materially with commodity and trade-policy moves, complicating medium-term margin planning.

Rising debt year-over-year

Although leverage remains moderate, the increase in absolute debt reduces financial headroom and raises refinancing and interest-rate sensitivity. If cash conversion remains weak, higher debt levels could constrain capex, M&A or future capital-return programs over the medium term.

Tecnoglass Business Overview & Revenue Model

Company Description

Tecnoglass Inc., through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, Panama, and internationally. The company offers low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products. It also provides aluminum products, including bars, plates, profiles, rods, and tubes that are used in the manufacture of architectural glass settings, such as windows, doors, spatial separators, and related products. In addition, the company offers curtain wall/floating facades, windows and doors, interior dividers and commercial display windows, hurricane-proof windows, and stick facade systems; and other products comprising awnings, structures, automatic doors, and other components of architectural systems. It markets and sells its products primarily under the Tecnoglass, ESWindows, and Alutions brands through internal and independent sales representatives, as wells as directly to distributors. The company was founded in 1984 and is headquartered in Barranquilla, Colombia. Tecnoglass Inc. is a subsidiary of Energy Holding Corporation.

How the Company Makes Money

Tecnoglass generates revenue primarily through the sale of its glass products and related services to the construction industry. The company operates on a business-to-business (B2B) model, securing contracts with developers and contractors for large-scale projects. Key revenue streams include custom glass solutions, installation services, and the sale of proprietary products that meet specific energy efficiency standards. Additionally, Tecnoglass benefits from strategic partnerships with architecture firms and construction companies, which enhance its market reach and allow for joint ventures on large projects. The company's financial success is also bolstered by its ability to adapt to market trends, such as the increasing demand for sustainable building materials, which aligns with its product offerings.

Tecnoglass Financial Statement Overview

Summary

Strong multi-year revenue growth and solid profitability support the score, and leverage remains moderate with healthy ROE. Offsetting factors are weaker 2025 cash conversion (free cash flow down sharply and low vs. net income) and higher debt year-over-year.

Income Statement

Revenue has expanded strongly over the cycle (from $377M in 2020 to $984M in 2025), including a sharp step-up in 2025 (+58.5% YoY). Profitability remains solid with 2025 gross margin ~42.8% and EBIT margin ~23.5%, but margins have compressed versus the 2022–2023 peak levels and net income slipped slightly in 2025 ($159.6M vs $161.3M in 2024), pointing to some cost/price pressure despite higher sales.

Balance Sheet

Leverage looks moderate with 2025 debt-to-equity at ~0.24 and equity growing to ~$713M alongside asset growth to ~$1.26B. Return on equity is healthy (~22.4% in 2025), though it has come down from very elevated levels in 2022–2023. A key watch item is debt rising in 2025 (to ~$172M from ~$109M in 2024), which reduces balance-sheet flexibility relative to last year even if overall leverage remains reasonable.

Cash Flow

Cash generation weakened in 2025: operating cash flow declined to ~$136M (from ~$171M in 2024) and free cash flow fell sharply to ~$34.5M (down ~48.8% YoY). Free cash flow covered only ~25% of net income in 2025 (vs ~53% in 2024), indicating earnings converted to cash less efficiently this year and raising the risk that growth is becoming more working-capital or reinvestment intensive.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	983.61M	890.18M	833.26M	716.57M	496.79M
Gross Profit	421.41M	379.97M	390.93M	349.50M	202.58M
EBITDA	267.51M	259.06M	292.47M	259.01M	127.69M
Net Income	159.57M	161.31M	182.88M	155.74M	68.15M
Balance Sheet
Total Assets	1.26B	1.02B	962.72M	734.31M	591.56M
Cash, Cash Equivalents and Short-Term Investments	104.05M	137.53M	132.41M	105.72M	86.99M
Total Debt	171.63M	109.31M	170.01M	169.48M	199.06M
Total Liabilities	547.34M	385.46M	414.70M	383.98M	346.87M
Stockholders Equity	713.05M	631.18M	548.02M	348.82M	243.86M
Cash Flow
Free Cash Flow	34.49M	90.97M	60.87M	70.59M	65.74M
Operating Cash Flow	135.75M	170.53M	138.83M	141.92M	117.25M
Investing Cash Flow	-87.55M	-77.29M	-76.02M	-72.58M	-50.76M
Financing Cash Flow	-85.53M	-84.55M	-42.77M	-44.80M	-43.79M

Tecnoglass Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 45.56
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGLS, the sentiment is Negative. The current price of 45.56 is below the 20-day moving average (MA) of 50.54, below the 50-day MA of 51.08, and below the 200-day MA of 64.62, indicating a bearish trend. The MACD of -0.93 indicates Positive momentum. The RSI at 30.55 is Neutral, neither overbought nor oversold. The STOCH value of 20.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TGLS.

Tecnoglass Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TTAM	74 Outperform	$3.22B	18.45	―	0.94%	0.28%	-1.57%
EXP	70 Outperform	$6.89B	16.95	28.77%	0.47%	1.50%	-4.44%
TGLS	69 Neutral	$2.10B	13.33	23.74%	1.12%	15.70%	19.92%
SMID	67 Neutral	$211.23M	17.97	25.46%	―	16.37%	81.03%
CPAC	64 Neutral	$983.41M	21.01	16.04%	5.46%	9.24%	24.01%
LOMA	63 Neutral	$1.23B	32.41	5.06%	―	-33.99%	-61.41%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

Tecnoglass Corporate Events

Tecnoglass Shareholders Reaffirm Board Leadership and Executive Pay

At its Annual General Meeting held on December 19, 2025, Tecnoglass shareholders approved the election of Class C directors Jose M. Daes and Jon Paul “JP” Pérez to new three-year terms, reaffirming the company’s existing board leadership structure. Investors also backed, on an advisory basis, the current compensation packages for the company’s named executive officers and voted to hold future advisory say-on-pay votes every three years, a cadence the board has agreed to adopt, with the next vote scheduled for the 2028 annual general meeting, signaling shareholder support for Tecnoglass’s executive pay framework and governance approach.

The most recent analyst rating on (TGLS) stock is a Buy with a $80.00 price target. To see the full list of analyst forecasts on Tecnoglass stock, see the TGLS Stock Forecast page.