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Tecnoglass
(NYSE:TGLS)
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Rating:62Neutral
Price Target:
$42.00
▲(2.89% Upside)
Action:Reiterated
Date:09/10/26
The score is driven mainly by solid profitability and a manageable balance sheet, but is held back by weak/volatile cash conversion. Technicals are also soft with the stock trading below key moving averages and negative momentum indicators. Valuation is supportive at a mid-teens P/E with a modest dividend, while the latest earnings call was mixed: strong backlog and growth outlook, but significant margin pressure and near-term cash flow impacts.
Positive Factors
Record backlog and durable demand
The record backlog and sustained book-to-bill above 1.0x provide meaningful forward demand visibility. This supports production planning, revenue continuity and capacity investment, while suggesting Tecnoglass is continuing to win work rather than relying only on completed-project timing.
Negative Factors
Material margin compression
The sharp decline in gross and adjusted EBITDA margins shows that revenue growth is currently converting into substantially less operating profit. Persistent margin pressure would reduce earnings durability and could limit the cash available for investment, dividends and other capital allocation priorities.
Read all positive and negative factors
Positive Factors
Negative Factors
Record backlog and durable demand
The record backlog and sustained book-to-bill above 1.0x provide meaningful forward demand visibility. This supports production planning, revenue continuity and capacity investment, while suggesting Tecnoglass is continuing to win work rather than relying only on completed-project timing.
Read all positive factors
Tecnoglass (TGLS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.79B
Dividend Yield1.51%
Average Volume (3M)257.43K
Price to Earnings (P/E)14.0
Beta (1Y)1.28
Revenue Growth9.87%
EPS Growth-26.90%
CountryUS
Employees9,601
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)2.84
Shares Outstanding44,364,616
10 Day Avg. Volume238,222
30 Day Avg. Volume257,426
Financial Highlights & Ratios
PEG Ratio-50.47
Price to Book (P/B)3.29
Price to Sales (P/S)2.39
P/FCF Ratio68.10
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$57.00Price Target Upside39.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)2.58
Revenue Forecast (FY)$1.10B
Tecnoglass Business Overview & Revenue Model
Company Description
Operating through its various subsidiaries, Tecnoglass Inc. specializes in the engineering, fabrication, promotion, and installation of advanced architectural systems. These solutions cater to both commercial and residential construction projects ...
How the Company Makes Money
Tecnoglass makes money by manufacturing and selling architectural glass and aluminum building products, with revenue primarily recognized from customer orders for finished goods and project-based deliveries. Its key revenue streams come from (1) s...
Tecnoglass Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 09, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: strong top-line momentum with record revenue, backlog and market-share gains alongside strategic progress on product expansion, automation and corporate restructuring. However, profitability and margins were materially pressured by a sharp rise in U.S. aluminum costs, a stronger Colombian peso, higher labor costs and tariff-related expenses, resulting in a significant year-over-year decline in adjusted EBITDA and gross margin. Management has narrowed guidance, outlined pricing and automation actions that should improve results over time, and retains a solid balance sheet and liquidity to support investments, but near-term earnings and cash flow were impacted by timing and external cost shocks.Positive Updates
Record Quarterly Revenue
Total revenues reached a record $295.3 million in Q2, up 15.6% year-over-year, driven by broad-based demand across segments.
Negative Updates
Material Margin Compression
Adjusted EBITDA decreased to $51.7 million (17.5% margin) in Q2 from $79.8 million (31.2% margin) year-over-year, a large decline in profitability despite revenue growth.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarterly Revenue
Total revenues reached a record $295.3 million in Q2, up 15.6% year-over-year, driven by broad-based demand across segments.
Read all positive updates
Company Guidance
Tecnoglass narrowed full‑year 2026 guidance to $1.08–$1.12 billion of revenue and $220–$230 million of adjusted EBITDA, while expecting Q3 revenue to step down to roughly $280 million (after ~$15–$20 million of residential orders were pulled into Q2) and Q3 gross margin to be roughly flat or slightly higher than Q2’s 37.3% (Q2 adjusted EBITDA was $51.7 million, or a 17.5% margin); management reiterated double‑digit revenue growth for the year, forecasted capital expenditures of $80–$95 million (including $20–$25 million for a land purchase), noted Q2 capex of $35.4 million and cash from operations of ~$4.4 million (after ~ $26 million of Colombian tax payments), reported backlog of $1.4 billion (up 15.6% YoY) with a 1.1 book‑to‑bill (23 consecutive quarters >1.0), liquidity of ~$360 million, net leverage of 0.6x, no material debt maturities until end of 2030, an average all‑in U.S. aluminum price up ~77% YoY, a Colombian peso ~COP 3,200/$ (≈14% YoY appreciation, where a 5% move impacts gross margin by ~120 bps), and expected to fully offset tariff impacts by 2027 while pursuing pricing (residential price increase ~7% in May) and automation (headcount down ~10% at June, more automation by year‑end).Tecnoglass Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
73
Positive
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.05B | 983.61M | 890.18M | 833.26M | 716.57M | 496.79M |
| Gross Profit | 415.42M | 421.41M | 379.97M | 390.93M | 349.50M | 202.58M |
| EBITDA | 248.48M | 272.06M | 259.06M | 292.47M | 259.01M | 127.69M |
| Net Income | 129.74M | 159.57M | 161.31M | 182.88M | 155.74M | 68.15M |
Balance Sheet | ||||||
| Total Assets | 1.43B | 1.26B | 1.02B | 962.72M | 734.31M | 591.56M |
| Cash, Cash Equivalents and Short-Term Investments | 84.28M | 104.05M | 137.53M | 132.41M | 105.72M | 86.99M |
| Total Debt | 225.39M | 171.63M | 109.31M | 170.01M | 169.48M | 199.06M |
| Total Liabilities | 640.07M | 547.34M | 385.46M | 414.70M | 383.98M | 346.87M |
| Stockholders Equity | 788.77M | 713.05M | 631.18M | 548.02M | 348.82M | 243.86M |
Cash Flow | ||||||
| Free Cash Flow | 43.79M | 34.49M | 90.97M | 60.87M | 70.59M | 65.74M |
| Operating Cash Flow | 82.11M | 135.75M | 170.53M | 138.83M | 141.92M | 117.25M |
| Investing Cash Flow | -89.93M | -87.55M | -77.29M | -76.02M | -72.58M | -50.76M |
| Financing Cash Flow | -52.35M | -85.53M | -84.55M | -42.77M | -44.80M | -43.79M |
Tecnoglass Technical Analysis
Negative
40.82
Price Trends
43.10
Negative
42.94
Negative
45.56
Negative
Market Momentum
-1.01
Negative
43.57
Neutral
76.58
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 40.82 is above the 20-day moving average (MA) of 40.36, below the 50-day MA of 43.10, and below the 200-day MA of 45.56, indicating a bearish trend. The MACD of -1.01 indicates Negative momentum. The RSI at 43.57 is Neutral, neither overbought nor oversold. The STOCH value of 76.58 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 |
|---|---|---|---|---|---|---|---|
67 Neutral | $808.44M | 11.85 | 13.43% | 2.80% | 1.79% | 36.42% | |
62 Neutral | $1.79B | 13.98 | 17.29% | 1.51% | 9.87% | -26.90% | |
62 Neutral | $1.02B | 21.99 | 6.19% | 1.52% | 1.26% | ― | |
62 Neutral | $675.36M | 19.18 | 5.86% | ― | 0.26% | -22.34% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | $6.73B | 66.73 | 2.46% | ― | -9.38% | -86.05% | |
48 Neutral | $5.04B | 33.11 | 6.31% | 2.53% | -2.31% | -61.33% |
* Basic Materials Sector Average
TGLS
Tecnoglass
39.69
-30.94
-43.80%
APOG
Apogee
38.16
-2.29
-5.65%
BLDR
Builders Firstsource
61.39
-78.86
-56.23%
FBIN
Fortune Brands Innovations
40.72
-16.65
-29.02%
NX
Quanex
21.85
6.95
46.60%
JBI
Janus International Group
4.65
-5.42
-53.82%
Tecnoglass Corporate Events
Dividends
Tecnoglass Declares Third-Quarter 2026 Cash Dividend
Positive
Sep 10, 2026
On September 10, 2026, Tecnoglass Holdings Inc. announced that its board had declared a quarterly cash dividend of $0.15 per share for the third quarter of 2026, equivalent to $0.60 per share on an annualized basis. The company said the dividend w...
Business Operations and StrategyRegulatory Filings and Compliance
Tecnoglass Completes Florida Reincorporation and Governance Update
Neutral
Jul 7, 2026
Effective July 7, 2026, Tecnoglass Inc. completed a change of jurisdiction of incorporation from the Cayman Islands to the State of Florida through a statutory continuation process, and its existing ordinary shares were converted into registered s...
Business Operations and Strategy
Tecnoglass Highlights Growth Strategy and U.S. Market Expansion
Positive
Jun 25, 2026
On June 25, 2026, Tecnoglass Chief Financial Officer Santiago Giraldo outlined the company’s evolution from a Colombian window assembler into a leading U.S.-focused glass and window supplier, highlighting its rapid growth since its 2013 New ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Tecnoglass Shareholders Approve Redomiciliation and Governance Changes
Neutral
Jun 16, 2026
On June 16, 2026, Tecnoglass Inc. shareholders approved a series of governance and structural changes at the company’s Annual General Meeting, including the de-registration of the company in the Cayman Islands and its continuation as a Flori...
Dividends
Tecnoglass Declares Quarterly Cash Dividend for Shareholders
Positive
Jun 10, 2026
On June 10, 2026, Tecnoglass announced that its board declared a quarterly cash dividend of $0.15 per share for the second quarter of 2026, equivalent to $0.60 per share on an annualized basis. The dividend will be paid on July 31, 2026, to shareh...
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.