TGLSTecnoglass Inc.
Is the business good?
More warning than reassurance: thin cash backing (0.6×) and margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is worsening vs a year ago.
Operating profit is falling even as sales grow, costs are outrunning the top line.
A balanced mix of margins, efficiency, and leverage. ROE 21% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is TGLS?
Tecnoglass Inc. earns 16% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 7.3 points above what the capital costs: growth creates value
- Operating margin
- 18%
Operating margin · Building Materials median 17% · 12 months to Q2 2026
- Cash conversion
- 0.65×
Cash conversion · 0.93× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- −5.6%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 17% |
| FY2021 | 24% |
| FY2022 | 32% |
| FY2023 | 31% |
| FY2024 | 26% |
| FY2025 | 23% |
Details›
- Gross margin12 months to Q2 2026
- 40%
- Operating margin12 months to Q2 2026
- 18%
- Net margin12 months to Q2 2026
- 12%
- Free cash flow margin
- −0.85%
- Revenue, trailing twelve months
- $1.05B
- Free cash flow, trailing twelve months
- −$8.9M
- Net income, trailing twelve months
- $130M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 16%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.