Tecnoglass Inc (TGLS)
NYSE:TGLS
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Tecnoglass
(NYSE:TGLS)
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Rating:69Neutral
Price Target:
$44.00
▲(3.58% Upside)
Action:DowngradedDate: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 & durable demand
A $1.3B record backlog and a long track record of book-to-bill >1.1x provide multi-quarter revenue visibility and conversion tailwinds. This durable demand reduces execution risk, supports capacity planning and underpins management's FY2026 growth guidance, strengthening structural revenue predictability.
Negative Factors
Weakened cash conversion
A sharp drop in free cash flow and lower cash conversion versus net income signals growing working-capital intensity or more reinvestment to support expansion. If sustained, weaker cash conversion can limit organic funding for growth, shareholder returns, or debt reduction and raises execution risk on expansion plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Record backlog & durable demand
A $1.3B record backlog and a long track record of book-to-bill >1.1x provide multi-quarter revenue visibility and conversion tailwinds. This durable demand reduces execution risk, supports capacity planning and underpins management's FY2026 growth guidance, strengthening structural revenue predictability.
Read all positive factors
Tecnoglass (TGLS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.90B
Dividend Yield1.12%
Average Volume (3M)587.34K
Price to Earnings (P/E)14.7
Beta (1Y)1.35
Revenue Growth15.70%
EPS Growth19.92%
CountryUS
Employees9,837
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)0.63
Shares Outstanding44,737,724
10 Day Avg. Volume758,316
30 Day Avg. Volume587,339
Financial Highlights & Ratios
PEG Ratio-50.49
Price to Book (P/B)3.29
Price to Sales (P/S)2.39
P/FCF Ratio68.10
Enterprise Value/Market Cap1.08
Enterprise Value/Revenue2.08
Enterprise Value/Gross Profit4.86
Enterprise Value/Ebitda7.46
Forecast
1Y Price Target
$67.50Price Target Upside58.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)3.67
Revenue Forecast (FY)$1.09B
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 lo...
How the Company Makes Money
Tecnoglass makes money mainly by manufacturing and selling architectural glass and aluminum-based building products. Its revenue is generated from fulfilling project and customer orders for fabricated glass products (e.g., tempered/laminated glass...
Tecnoglass Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call communicated strong operational and financial achievements — record revenues, record backlog, robust cash generation, an active buyback program, improved geographic footprint and a clear ramp plan for vinyl — that position the company for continued growth. However, meaningful near-term margin pressures from sharply higher aluminum costs, tariff dynamics on stand-alone products, and Colombian peso appreciation led to notable Q4 profit contraction and elevated SG&A as a percent of sales. Guidance for 2026 shows growth but contains a wide EBITDA range tied to macro and input-cost assumptions. Overall, the positives (record top-line, backlog, cash, low leverage and shareholder returns plus clear growth levers) outweigh the headwinds (material input-cost and FX-driven margin compression and Q1 softness), suggesting the business is resilient and positioned for further expansion if cost dynamics improve.Positive Updates
Record Full-Year Revenue
Total revenues for FY2025 reached a record $983.6 million, up 10.5% year-over-year, demonstrating broad-based strength across single-family residential and multifamily/commercial segments.
Negative Updates
Quarterly Margin Pressure and EBITDA Decline in Q4
Q4 2025 adjusted EBITDA fell to $62.2 million (25.4% margin) from $79.2 million (33.1%) in the prior-year quarter, reflecting a meaningful sequential and year-over-year margin contraction driven by cost and mix pressures.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Full-Year Revenue
Total revenues for FY2025 reached a record $983.6 million, up 10.5% year-over-year, demonstrating broad-based strength across single-family residential and multifamily/commercial segments.
Read all positive updates
Company Guidance
Management guided full‑year 2026 revenues of $1.06B–$1.13B (midpoint ~$1.095B, ~11% growth at midpoint) and adjusted EBITDA of $265M–$305M (midpoint $285M, implied margin ~26%), with the high‑end scenario assuming ~10% aluminum input cost improvement by mid‑year and a Colombian peso around COP 4,000/USD (low‑end assumes stable aluminum and peso < COP 3,800); Q1 is expected to be roughly in line with Q4 (Q4 revenues $245.3M; FY2025 $983.6M) with revenues back‑loaded as a record $1.3B backlog (+16%) converts (book‑to‑bill 1.1x; 20 consecutive quarters >1.1x). Management expects continued strong free cash flow, working capital to be a source of cash offset by longer conversion cycles from installation work, capex of $60M–$75M (maintenance ≈1% of revenue) with a potential separate land purchase of $20M–$25M not included, and a conservative balance sheet (liquidity ≈$465M including cash ~$100.9M and ~$365M revolver availability, net debt/LTM EBITDA 0.24x); upside risks not modeled include additional pricing actions and opportunistic FX hedges.Tecnoglass Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| 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 | 272.06M | 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
Negative
42.48
Price Trends
47.82
Negative
49.18
Negative
60.37
Negative
Market Momentum
-1.79
Negative
41.17
Neutral
42.79
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 42.48 is below the 20-day moving average (MA) of 43.32, below the 50-day MA of 47.82, and below the 200-day MA of 60.37, indicating a bearish trend. The MACD of -1.79 indicates Negative momentum. The RSI at 41.17 is Neutral, neither overbought nor oversold. The STOCH value of 42.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TGLS.
Tecnoglass Risk Analysis
Tecnoglass disclosed 56 risk factors in its most recent earnings report. Tecnoglass reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Tecnoglass Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $5.73B | 16.19 | 28.78% | 0.47% | 1.50% | -4.44% | |
69 Neutral | $1.90B | 14.72 | 22.02% | 1.12% | 15.70% | 19.92% | |
69 Neutral | $2.73B | 16.29 | ― | 0.94% | 0.28% | -1.57% | |
63 Neutral | $172.13M | 17.01 | 25.02% | ― | 16.37% | 81.03% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | $919.79M | 20.64 | 16.04% | 5.46% | 9.24% | 24.01% | |
49 Neutral | $1.25B | 79.74 | 2.03% | ― | -33.99% | -61.41% |
* Basic Materials Sector Average
TGLS
Tecnoglass
42.48
-28.77
-40.38%
CPAC
Cementos Pacasmayo SAA
10.19
4.83
90.11%
EXP
Eagle Materials
182.32
-38.55
-17.45%
LOMA
Loma Negra Compania Industrial Argentina Sociedad Anonima
10.01
-0.98
-8.92%
SMID
Smith-Midland
32.45
1.38
4.44%
TTAM
Titan America SA
14.82
1.45
10.85%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.