Tecnoglass Inc. (TGLS) 10-Year Financial Performance & Capital Metrics

TGLS • • Industrial / General

Basic MaterialsConstruction MaterialsSpecialty Building ProductsArchitectural Glass & Systems

AboutTecnoglass 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.Show more

Revenue $890M +6.8%
EBITDA $253M -10.0%
Net Income $161M -11.8%
EPS (Diluted) 3.43 -10.9%
Gross Margin 42.68% -9.0%
EBITDA Margin 28.47% -15.8%
Operating Margin 25.5% -18.2%
Net Margin 18.12% -17.4%
ROE 27.36% -32.8%
ROIC 28.51% -26.5%
Debt/Equity 0.17 -44.2%
Interest Coverage 30.54 +7.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 40.1%
✓Strong 5Y profit CAGR of 45.7%
✓Strong 5Y sales CAGR of 15.6%
✓Healthy 5Y average net margin of 16.4%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y16.25%

5Y15.62%

3Y21.46%

TTM15.7%

Profit (Net Income) CAGR

10Y23.02%

5Y45.74%

3Y33.27%

TTM19.81%

EPS CAGR

10Y16.73%

5Y44.21%

3Y33.86%

TTM20.31%

ROCE

10Y Avg24.73%

5Y Avg32.23%

3Y Avg39.79%

Latest30.72%

Peer Comparison

Architectural Glass & Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TGLSTecnoglass Inc.	2.51B	53.82	15.69	6.83%	18.46%	23.62%	3.63%	0.17
STAIScanTech AI Systems Inc.	10.1M	2.69	-2.28		-42.45%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	239.39M	304.51M	314.46M	370.98M	430.91M	376.61M	496.79M	716.57M	833.26M	890.18M
Revenue Growth %	0.21%	0.27%	0.03%	0.18%	0.16%	-0.13%	0.32%	0.44%	0.16%	0.07%
Cost of Goods Sold+	153.4M	192.52M	215.27M	250.77M	295.1M	237.17M	294.2M	367.07M	442.33M	510.21M
COGS % of Revenue	0.64%	0.63%	0.68%	0.68%	0.68%	0.63%	0.59%	0.51%	0.53%	0.57%
Gross Profit+	86M	111.99M	99.18M	120.22M	135.81M	139.44M	202.58M	349.5M	390.93M	379.97M
Gross Margin %	0.36%	0.37%	0.32%	0.32%	0.32%	0.37%	0.41%	0.49%	0.47%	0.43%
Gross Profit Growth %	0.4%	0.3%	-0.11%	0.21%	0.13%	0.03%	0.45%	0.73%	0.12%	-0.03%
Operating Expenses+	51.27M	64.8M	64.82M	73.02M	76.99M	73.73M	85.6M	123.08M	131.17M	152.97M
OpEx % of Revenue	0.21%	0.21%	0.21%	0.2%	0.18%	0.2%	0.17%	0.17%	0.16%	0.17%
Selling, General & Admin	43.98M	55.24M	54.74M	65.97M	68.96M	66.44M	77.45M	111.79M	118.85M	139.44M
SG&A % of Revenue	0.18%	0.18%	0.17%	0.18%	0.16%	0.18%	0.16%	0.16%	0.14%	0.16%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	7.29M	9.55M	10.07M	7.05M	8.04M	7.29M	8.15M	11.29M	12.32M	13.54M
Operating Income+	39.59M	47.85M	34.36M	47.2M	58.81M	65.71M	116.98M	226.41M	259.76M	227M
Operating Margin %	0.17%	0.16%	0.11%	0.13%	0.14%	0.17%	0.24%	0.32%	0.31%	0.26%
Operating Income Growth %	0.45%	0.21%	-0.28%	0.37%	0.25%	0.12%	0.78%	0.94%	0.15%	-0.13%
EBITDA+	52.05M	63.37M	55.33M	70.35M	81.55M	86.33M	137.91M	246.1M	281.64M	253.47M
EBITDA Margin %	0.22%	0.21%	0.18%	0.19%	0.19%	0.23%	0.28%	0.34%	0.34%	0.28%
EBITDA Growth %	0.46%	0.22%	-0.13%	0.27%	0.16%	0.06%	0.6%	0.78%	0.14%	-0.1%
D&A (Non-Cash Add-back)	12.46M	15.52M	20.97M	23.16M	22.73M	20.62M	20.92M	19.69M	21.88M	26.47M
EBIT	18.95M	56.07M	31.39M	35.65M	60M	58.55M	106.76M	239.33M	270.59M	232.59M
Net Interest Income+	-10.77M	-19.7M	-21.52M	-22.13M	-23.98M	-22.94M	-9.85M	-8.16M	-9.18M	-7.43M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	9.27M	16.81M	19.87M	21.19M	23.98M	22.94M	9.85M	8.16M	9.18M	7.43M
Other Income/Expense	-29.92M	-8.6M	-22.85M	-32.73M	-21.62M	-28.83M	-20.07M	4.75M	1.65M	-1.84M
Pretax Income+	19.34M	39.2M	11.52M	14.46M	37.2M	36.87M	96.91M	231.17M	261.41M	225.16M
Pretax Margin %	0.08%	0.13%	0.04%	0.04%	0.09%	0.1%	0.2%	0.32%	0.31%	0.25%
Income Tax+	20.87M	15.88M	5.79M	5.98M	12.93M	13.03M	28.48M	74.76M	77.9M	63.85M
Effective Tax Rate %	-0.08%	0.59%	0.47%	0.62%	0.66%	0.65%	0.7%	0.67%	0.7%	0.72%
Net Income+	-1.54M	23.32M	5.45M	9.03M	24.54M	23.88M	68.15M	155.74M	182.88M	161.31M
Net Margin %	-0.01%	0.08%	0.02%	0.02%	0.06%	0.06%	0.14%	0.22%	0.22%	0.18%
Net Income Growth %	-1.08%	16.17%	-0.77%	0.66%	1.72%	-0.03%	1.85%	1.29%	0.17%	-0.12%
Net Income (Continuing)	-11.02M	23.18M	5.72M	8.49M	24.27M	23.84M	68.43M	156.41M	183.51M	161.31M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	1.42M	872K	606K	560K	836K	1.5M	0	0
EPS (Diluted)+	-0.06	0.77	0.16	0.24	0.55	0.51	1.43	3.27	3.85	3.43
EPS Growth %	-1.08%	15%	-0.79%	0.5%	1.29%	-0.07%	1.8%	1.29%	0.18%	-0.11%
EPS (Basic)	-0.06	0.80	0.16	0.24	0.55	0.51	1.43	3.27	3.85	3.43
Diluted Shares Outstanding	27.95M	30.25M	35.32M	38.06M	44.46M	46.4M	47.67M	47.67M	47.51M	47M
Basic Shares Outstanding	25.45M	29.23M	34.82M	37.51M	44.46M	46.4M	47.67M	47.67M	47.51M	47M
Dividend Payout Ratio	-	0.13%	0.45%	0.3%	0.21%	0.16%	0.08%	0.08%	0.09%	0.12%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	165.36M	210.74M	261.9M	293.4M	322.85M	285.16M	326.27M	432.13M	535.76M	560.01M
Cash & Short-Term Investments	19.97M	28.45M	42.6M	34.2M	50.17M	70.06M	86.99M	105.72M	132.41M	137.53M
Cash Only	18.5M	26.92M	40.92M	33.04M	47.86M	67.67M	85.01M	103.67M	129.51M	134.88M
Short-Term Investments	1.47M	1.54M	1.68M	1.16M	2.3M	2.39M	1.98M	2.05M	2.91M	2.65M
Accounts Receivable	91.35M	109.92M	128.96M	147.05M	162.78M	123.3M	132.76M	174.2M	191.22M	231.43M
Days Sales Outstanding	139.28	131.75	149.69	144.68	137.88	119.5	97.54	88.73	83.76	94.89
Inventory	46.01M	55.09M	71.66M	91.85M	82.71M	81.25M	84.97M	125M	159.07M	139.64M
Days Inventory Outstanding	109.48	104.45	121.49	133.69	102.31	125.04	105.42	124.29	131.26	99.9
Other Current Assets	563K	16.09M	17.51M	18.93M	1.39M	2.15M	4.74M	10.86M	7.99M	7.18M
Total Non-Current Assets+	154.63M	188.72M	206.1M	196.38M	246.82M	244.95M	265.29M	302.17M	426.96M	456.64M
Property, Plant & Equipment	139.59M	175.53M	168.7M	149.2M	154.61M	152.47M	166.63M	202.87M	324.59M	344.43M
Fixed Asset Turnover	1.71x	1.73x	1.86x	2.49x	2.79x	2.47x	2.98x	3.53x	2.57x	2.58x
Goodwill	1.33M	1.33M	23.13M	23.56M	23.56M	23.56M	23.56M	23.56M	23.56M	23.56M
Intangible Assets	1.92M	4.55M	11.52M	9.01M	6.7M	5.11M	3.34M	2.71M	3.48M	4.39M
Long-Term Investments	4.94M	500K	500K	500K	46.1M	47.53M	51.47M	58.95M	62M	64.93M
Other Non-Current Assets	6.51M	3.29M	2.15M	9.34M	11.26M	16M	19.7M	13.53M	13.16M	19.04M
Total Assets+	319.99M	399.46M	468M	489.77M	569.67M	530.11M	591.56M	734.31M	962.72M	1.02B
Asset Turnover	0.75x	0.76x	0.67x	0.76x	0.76x	0.71x	0.84x	0.98x	0.87x	0.88x
Asset Growth %	0.25%	0.25%	0.17%	0.05%	0.16%	-0.07%	0.12%	0.24%	0.31%	0.06%
Total Current Liabilities+	175.05M	78.47M	121.45M	122.59M	129.01M	94.06M	155.01M	209.8M	235.89M	265.83M
Accounts Payable	39.14M	38.98M	55.18M	65.51M	61.88M	42.33M	68.09M	90.19M	82.78M	98.84M
Days Payables Outstanding	93.14	73.9	93.56	95.35	76.53	65.14	84.47	89.68	68.31	70.71
Short-Term Debt	17M	2.65M	3.26M	21.61M	16.08M	1.76M	10.7M	504K	7M	1.09M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	5.94M	7.15M	37.95M	8.89M	15.56M	9.96M	24.01M	60.57M	61.79M	50.98M
Current Ratio	0.94x	2.69x	2.16x	2.39x	2.50x	3.03x	2.10x	2.06x	2.27x	2.11x
Quick Ratio	0.68x	1.98x	1.57x	1.64x	1.86x	2.17x	1.56x	1.46x	1.60x	1.58x
Cash Conversion Cycle	155.62	162.29	177.62	183.01	163.65	179.41	118.5	123.35	146.71	124.08
Total Non-Current Liabilities+	77.07M	206.75M	224.89M	233.95M	253.45M	227.51M	191.85M	174.18M	178.81M	119.64M
Long-Term Debt	121.49M	196.95M	221M	220.71M	243.73M	222.72M	188.35M	168.98M	163M	108.22M
Capital Lease Obligations	-72.63M	0	0	380K	0	0	0	0	0	0
Deferred Tax Liabilities	3.38M	3.66M	2.32M	2.71M	411K	3.17M	3.42M	5.19M	15.79M	11.42M
Other Non-Current Liabilities	-52.22M	0	0	8.72M	9.12M	645K	0	0	0	0
Total Liabilities	252.11M	285.22M	346.33M	356.55M	382.46M	321.57M	346.87M	383.98M	414.7M	385.46M
Total Debt+	138.49M	199.6M	253.26M	242.31M	259.81M	224.49M	199.06M	169.48M	170.01M	109.31M
Net Debt	120M	172.68M	212.34M	209.28M	211.95M	156.82M	114.04M	65.81M	40.5M	-25.57M
Debt / Equity	2.04x	1.75x	2.08x	1.82x	1.39x	1.08x	0.81x	0.48x	0.31x	0.17x
Debt / EBITDA	2.66x	3.15x	4.58x	3.44x	3.19x	2.60x	1.44x	0.69x	0.60x	0.43x
Net Debt / EBITDA	2.31x	2.72x	3.84x	2.97x	2.60x	1.82x	0.83x	0.27x	0.14x	-0.10x
Interest Coverage	4.27x	2.85x	1.73x	2.23x	2.45x	2.86x	11.88x	27.76x	28.30x	30.54x
Total Equity+	67.88M	114.24M	121.67M	133.23M	187.21M	208.54M	244.7M	350.32M	548.02M	631.18M
Equity Growth %	-0.1%	0.68%	0.06%	0.1%	0.41%	0.11%	0.17%	0.43%	0.56%	0.15%
Book Value per Share	2.43	3.78	3.44	3.50	4.21	4.49	5.13	7.35	11.54	13.43
Total Shareholders' Equity	67.88M	114.24M	120.25M	132.36M	186.6M	207.98M	243.86M	348.82M	548.02M	631.18M
Common Stock	3K	3K	3K	4K	5K	5K	5K	5K	5K	5K
Retained Earnings	60.19M	27M	22.21M	10.44M	16.21M	29.93M	91.05M	234.25M	400.04M	538.79M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-30M	-27.6M	-27.28M	-35.69M	-37.9M	-41.24M	-66.48M	-104.73M	-44.41M	-99.7M
Minority Interest	0	0	1.42M	872K	606K	560K	836K	1.5M	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	4.61M	1M	14.21M	-5.03M	25.66M	71.43M	117.25M	141.92M	138.83M	170.53M
Operating CF Margin %	0.02%	0%	0.05%	-0.01%	0.06%	0.19%	0.24%	0.2%	0.17%	0.19%
Operating CF Growth %	1.96%	-0.78%	13.15%	-1.35%	6.1%	1.78%	0.64%	0.21%	-0.02%	0.23%
Net Income	-1.54M	23.32M	5.72M	8.49M	24.27M	23.84M	68.43M	156.41M	182.88M	161.31M
Depreciation & Amortization	12.01M	15.67M	20.97M	23.16M	22.73M	21.59M	22.29M	19.69M	21.88M	26.47M
Stock-Based Compensation	0	300K	284K	0	0	0	0	0	0	0
Deferred Taxes	63K	-435K	-6.14M	-3.29M	-2.7M	6.58M	4.4M	5.48M	8.35M	-1.87M
Other Non-Cash Items	-136K	-2.06M	13.05M	1.31M	9.01M	7.48M	13.89M	10.7M	-26M	8.79M
Working Capital Changes	-31.9M	-35.79M	-19.68M	-38.37M	-27.65M	11.94M	8.24M	-50.36M	-48.28M	-24.17M
Change in Receivables	-22.93M	-25.98M	2.5M	-23.7M	-27.71M	5.83M	-38.52M	-54.18M	-780K	-44.39M
Change in Inventory	-27.82M	-4.3M	-16.45M	-28.06M	8.42M	-1.68M	-16.75M	-63.94M	-522K	-2.88M
Change in Payables	15.73M	1.65M	13.05M	34.59M	-1.61M	-20.77M	38M	7.22M	-17.43M	14.66M
Cash from Investing+	-6.91M	-27.64M	-14.93M	-18.73M	-59.14M	-18.06M	-50.76M	-72.58M	-76.02M	-77.29M
Capital Expenditures	-14.9M	-28.39M	-7.03M	-13.12M	-24.95M	-18.32M	-51.51M	-71.33M	-77.96M	-79.56M
CapEx % of Revenue	0.06%	0.09%	0.02%	0.04%	0.06%	0.05%	0.1%	0.1%	0.09%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	4.47M	686K	-29K	391K	0	0	0	0	2.28M	2.7M
Cash from Financing+	4.14M	31.54M	14.76M	17.03M	48.33M	-33.54M	-43.79M	-44.8M	-42.77M	-84.55M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-3M	-2.47M	-2.71M	-5.23M	-3.8M	-5.24M	-12.87M	-16.43M	-19.74M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.41M	1.2M	0	0	0	0	-8.61M	0	-3M	-2.5M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-10.29M	-27.39M	7.18M	-18.15M	712K	53.11M	65.74M	70.59M	60.87M	90.97M
FCF Margin %	-0.04%	-0.09%	0.02%	-0.05%	0%	0.14%	0.13%	0.1%	0.07%	0.1%
FCF Growth %	0.65%	-1.66%	1.26%	-3.53%	1.04%	73.59%	0.24%	0.07%	-0.14%	0.49%
FCF per Share	-0.37	-0.91	0.20	-0.48	0.02	1.14	1.38	1.48	1.28	1.94
FCF Conversion (FCF/Net Income)	-3.00x	0.04x	2.61x	-0.56x	1.05x	2.99x	1.72x	0.91x	0.76x	1.06x
Interest Paid	6.92M	8.7M	15.77M	18.22M	19.7M	19.17M	15.53M	6.42M	11.62M	9.98M
Taxes Paid	13.21M	25.82M	17.83M	8.4M	12.3M	10.86M	13.4M	27.19M	107.15M	86.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.15%	25.61%	4.62%	7.09%	15.31%	12.07%	30.07%	52.35%	40.72%	27.36%
Return on Invested Capital (ROIC)	17.39%	15.12%	8.3%	10.46%	11.9%	12.89%	24.23%	43.83%	38.78%	28.51%
Gross Margin	35.92%	36.78%	31.54%	32.4%	31.52%	37.03%	40.78%	48.77%	46.92%	42.68%
Net Margin	-0.64%	7.66%	1.73%	2.43%	5.69%	6.34%	13.72%	21.73%	21.95%	18.12%
Debt / Equity	2.04x	1.75x	2.08x	1.82x	1.39x	1.08x	0.81x	0.48x	0.31x	0.17x
Interest Coverage	4.27x	2.85x	1.73x	2.23x	2.45x	2.86x	11.88x	27.76x	28.30x	30.54x
FCF Conversion	-3.00x	0.04x	2.61x	-0.56x	1.05x	2.99x	1.72x	0.91x	0.76x	1.06x
Revenue Growth	21.24%	27.2%	3.26%	17.98%	16.15%	-12.6%	31.91%	44.24%	16.29%	6.83%

Revenue by Segment

	2015	2016	2017	2018	2022	2023	2024
Commercial	-	-	-	-	-	497.86M	518.07M
Commercial Growth	-	-	-	-	-	-	4.06%
Residential	-	-	-	-	-	335.41M	372.11M
Residential Growth	-	-	-	-	-	-	10.94%
External Customers	-	-	-	-	714.74M	-	-
External Customers Growth	-	-	-	-	-	-	-
Related Parties	-	-	-	-	1.83M	-	-
Related Parties Growth	-	-	-	-	-	-	-
Windows and Architectural Systems	153.8M	-	-	266.95M	-	-	-
Windows and Architectural Systems Growth	-	-	-	-	-	-	-
Glass and Framing Components	-	-	-	104.03M	-	-	-
Glass and Framing Components Growth	-	-	-	-	-	-	-
Glass And Framing Components	85.03M	-	-	-	-	-	-
Glass And Framing Components Growth	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2022	2023	2024
UNITED STATES	141.8M	-	-	-	688.36M	795.06M	849.9M
UNITED STATES Growth	-	-	-	-	-	15.50%	6.90%
COLOMBIA	81.29M	-	-	-	16M	25.1M	25.02M
COLOMBIA Growth	-	-	-	-	-	56.89%	-0.31%
Other	-	-	8.13M	7.76M	9.47M	11.72M	14.09M
Other Growth	-	-	-	-4.58%	22.13%	23.68%	20.29%
PANAMA	7.33M	-	-	-	2.74M	1.38M	1.16M
PANAMA Growth	-	-	-	-	-	-49.53%	-16.21%
United States	-	189.99M	238.53M	296.53M	-	-	-
United States Growth	-	-	25.55%	24.32%	-	-	-
Colombia	-	98.76M	63.54M	62.45M	-	-	-
Colombia Growth	-	-	-35.66%	-1.72%	-	-	-
Panama	-	9.44M	4.26M	4.25M	-	-	-
Panama Growth	-	-	-54.90%	-0.26%	-	-	-
Others	8.41M	6.83M	-	-	-	-	-
Others Growth	-	-18.83%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Tecnoglass Inc. (TGLS) has a price-to-earnings (P/E) ratio of 15.7x. This is roughly in line with market averages.

Growth & Financials

Tecnoglass Inc. (TGLS) reported $977.9M in revenue for fiscal year 2024. This represents a 650% increase from $130.3M in 2012.

Tecnoglass Inc. (TGLS) grew revenue by 6.8% over the past year. This is steady growth.

Yes, Tecnoglass Inc. (TGLS) is profitable, generating $180.5M in net income for fiscal year 2024 (18.1% net margin).

Dividend & Returns

Yes, Tecnoglass Inc. (TGLS) pays a dividend with a yield of 0.78%. This makes it attractive for income-focused investors.

Tecnoglass Inc. (TGLS) has a return on equity (ROE) of 27.4%. This is excellent, indicating efficient use of shareholder capital.

Tecnoglass Inc. (TGLS) generated $67.4M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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