Tecnoglass Inc.
- Open
- 46.73
- Day high
- 48.79
- Day low
- 46.73
- Prev close
- 46.81
- Volume
- 112K
- Mkt cap
- $2.1B
- P/E (TTM)
- 14.8
- EPS (TTM)
- $3.23
- P/B
- 2.9
- P/S
- 2.1
- Yield
- 0.63%
- Per share
- $0.30
- ▲Insiders net buying $4.1M over the last 3 months (2 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
Tecnoglass Inc. (TGLS) is a Basic Materials company listed on NYSE. The stock is down 38% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 0 sales (SEC Form 4).
Tecnoglass Inc. (TGLS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TGLS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.72 | $0.78 | +8.3% | $249M | +2.7% |
| Nov 6, 2025 | $1.11 | $1.00 | -9.9% | $260M | +8.8% |
| Aug 7, 2025 | $0.95 | $1.03 | +8.4% | $256M | -3.5% |
| May 8, 2025 | $0.83 | $0.92 | +10.8% | $222M | -10.5% |
| Feb 27, 2025 | $1.01 | $1.05 | +4.0% | $240M | +8.1% |
| Nov 7, 2024 | $1.00 | $1.08 | +8.0% | $238M | -0.5% |
| Aug 8, 2024 | $0.83 | $0.86 | +3.6% | $220M | +0.2% |
| May 9, 2024 | $0.67 | $0.66 | -1.5% | $193M | +0.8% |
| Feb 29, 2024 | $0.76 | $0.80 | +5.3% | $195M | -6.1% |
| May 4, 2023 | $0.90 | $1.08 | +20.0% | $203M | +6.1% |
| Mar 2, 2023 | $0.98 | $1.09 | +11.2% | $211M | +3.2% |
| Nov 3, 2022 | $0.71 | $1.01 | +42.3% | $202M | +18.9% |
TGLS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 18, 2026 | Energy Holding Corp10 percent owner | Buy | 19,121 | $40.27 |
| May 18, 2026 | Energy Holding Corp10 percent owner | Buy | 80,879 | $40.56 |
| Mar 16, 2026 | Energy Holding Corp10 percent owner | Buy | 107,629 | $45.11 |
| Mar 16, 2026 | Energy Holding Corp10 percent owner | Buy | 107,600 | $45.28 |
| Mar 11, 2026 | Energy Holding Corp10 percent owner | Buy | 107,600 | $43.41 |
| Mar 11, 2026 | Energy Holding Corp10 percent owner | Buy | 92,066 | $44.24 |
| Mar 11, 2026 | Energy Holding Corp10 percent owner | Buy | 107,000 | $41.06 |
| Mar 10, 2026 | Carricarte Anne Louisedirector | Buy | 1,100 | $43.27 |
| Aug 14, 2025 | Energy Holding Corp10 percent owner | Sell | 1,495,898 | $79.03 |
| May 14, 2025 | Energy Holding Corp10 percent owner | Sell | 1,490,000 | $82.30 |
| Nov 12, 2024 | Energy Holding Corp10 percent owner | Sell | 1,432,120 | $73.02 |
| Nov 12, 2024 | Torres Julio A.director | Sell | 30,520 | $72.83 |
| Nov 12, 2024 | WEIL A LORNEdirector | Sell | 88,173 | $72.71 |
| Mar 11, 2024 | Giraldo Santiagoofficer: Chief Financial Officer | Buy | 563 | $44.47 |
| May 23, 2023 | Energy Holding Corp10 percent owner | Sell | 2,300,000 | $41.06 |
Source: TGLS SEC Form 4 filings, latest May 18, 2026. For informational purposes only — not investment advice.
See the full TGLS insider & 13F page →Tecnoglass Inc. company profile
Overview
Tecnoglass Inc. (NASDAQ:TGLS) is a Colombian-based manufacturer of architectural glass and aluminum products that has emerged as a leading supplier to the U.S. construction market. Founded in 1984 and headquartered in Barranquilla, Colombia, the company went public in 2012 and has since transformed from a regional glass manufacturer into a vertically integrated architectural systems provider serving commercial and residential construction projects across the Americas. The company relocated its global headquarters to Miami, Florida in recent years to better serve its primary U.S. market, while maintaining its manufacturing operations in Colombia where it benefits from lower labor costs and a strategic location for serving both North and South American markets.
Business
Tecnoglass operates in the architectural glass and aluminum systems industry, which serves the commercial and residential construction sectors. The company's core business involves designing, manufacturing, and installing complete window and facade systems for buildings ranging from single-family homes to high-rise commercial structures. The company's product portfolio spans two main categories. First, it produces various types of architectural glass products including low emissivity glass (which reduces heat transfer), laminated and thermo-laminated glass (for safety and insulation), tempered glass (for strength), and specialized products like curved glass and digital print glass. These glass products are engineered to meet specific performance requirements such as energy efficiency, hurricane resistance, and acoustic control. Second, Tecnoglass manufactures aluminum products including bars, plates, profiles, rods, and tubes that form the structural framework for windows, doors, and curtain wall systems. The company then integrates these components into complete architectural systems such as curtain walls (the exterior non-structural walls of buildings), windows and doors, interior dividers, hurricane-proof windows, and automatic doors. The business operates through two primary segments: Single-Family Residential (approximately 40% of revenue) which serves individual home construction and renovation projects, and Multifamily and Commercial (approximately 60% of revenue) which includes apartment buildings, office towers, hotels, and other commercial structures. The company markets its products under the Tecnoglass, ESWindows, and Alutions brands through internal sales representatives, independent distributors, and direct sales to contractors and developers.
Revenue model
Tecnoglass generates revenue primarily through product sales of manufactured architectural glass and aluminum systems. The company operates on a project-based model where it receives orders from general contractors, developers, and distributors who are building or renovating commercial and residential properties. Revenue is recognized when products are delivered and installed, typically with payment terms ranging from 30 to 90 days. The company's vertically integrated business model provides significant cost advantages and margin protection. By controlling the entire production process from raw glass and aluminum processing to final system assembly, Tecnoglass can maintain gross margins in the mid-40% range, substantially higher than many competitors who rely on third-party suppliers. This integration also allows for better quality control and shorter lead times, which are critical competitive advantages in the construction industry. Several factors influence the company's profitability. Positive margin drivers include the company's low-cost Colombian manufacturing base, economies of scale from increased production volumes, pricing power in premium market segments, and the ability to pass through raw material cost increases to customers. The company also benefits from favorable foreign exchange dynamics when the Colombian peso weakens against the U.S. dollar, as costs are incurred in pesos while revenues are primarily in dollars. Margin pressures can arise from increases in raw material costs (particularly aluminum and glass), strengthening of the Colombian peso, increased competition from Chinese manufacturers, and potential U.S. tariffs on imported architectural products. Economic downturns that reduce construction activity, rising interest rates that dampen real estate development, and supply chain disruptions also pose risks to both revenue and margins. The company has implemented hedging strategies for currency exposure and maintains pricing flexibility to help mitigate these risks.
Competitive moat
Tecnoglass possesses a moderate but meaningful competitive moat built primarily on its vertically integrated manufacturing model and strategic geographic positioning. The company's most significant advantage is its cost structure, operating large-scale manufacturing facilities in Colombia where labor costs are substantially lower than in the United States, while serving the higher-priced U.S. market. This geographic arbitrage provides gross margins of 40-45%, well above industry averages. The company's vertical integration creates barriers to entry and switching costs for customers. By controlling glass processing, aluminum fabrication, and system assembly, Tecnoglass can offer shorter lead times, better quality control, and more competitive pricing than competitors who rely on multiple suppliers. This integration also provides flexibility to customize products for specific projects, which is particularly valuable in the commercial construction market. Operational advantages include the company's established relationships with major contractors and developers, particularly in the high-growth Southeastern U.S. markets, and its ability to handle large, complex projects that smaller competitors cannot accommodate. The company's track record of on-time delivery and quality execution has built customer loyalty in an industry where project delays can be extremely costly. However, the moat faces several competitive threats. Chinese manufacturers continue to expand their presence in the U.S. market with lower-cost products, though they often lack the service capabilities and customization that Tecnoglass provides. Potential U.S. tariffs on imported architectural products could erode the company's cost advantage, though management believes they can pass through such costs to customers. Additionally, larger competitors with greater scale and resources could potentially replicate Tecnoglass's integrated model or acquire competitors to gain market share. The company's dependence on the U.S. construction market also creates vulnerability to economic cycles and regulatory changes.
Risks & safety
Tecnoglass demonstrates a strong margin of safety with robust financial metrics and conservative capital structure. • Liquidity and Solvency: The company maintains excellent liquidity with $157.3 million in cash and short-term investments as of Q1 2025, providing substantial cushion for operations and growth investments. Total liquidity approaches $300 million including credit facilities. • Debt Management: Net debt-to-EBITDA ratio of approximately 0.01x indicates minimal leverage risk. The company has been actively reducing debt, repaying $65 million in 2024, and maintains a debt-to-equity ratio of just 0.16x. • Cash Generation: Strong operating cash flow of $170.5 million in 2024 and free cash flow of $91 million demonstrate the business's ability to generate cash across economic cycles. Current ratio of 1.93x provides adequate working capital coverage. • Valuation Metrics: Trading at approximately 19.9x trailing earnings and 12.7x EV/EBITDA, the stock appears reasonably valued relative to growth prospects and industry peers. The company's consistent profitability and strong margins support current valuation levels. • Other Considerations: Diversified revenue base across residential and commercial segments, geographic expansion reducing concentration risk, and strong backlog of over $1 billion providing revenue visibility.
Recent development
Over the past few years, Tecnoglass has executed several key strategic initiatives to diversify its product portfolio and expand its market reach. The most significant development has been the company's entry into the vinyl window market, which began shipping in 2024. This expansion potentially doubles the company's addressable market, as vinyl windows represent approximately 60% of the U.S. residential window market. Management expects vinyl window revenues to reach $15-40 million in 2025, with potential to grow significantly thereafter. The company has pursued aggressive geographic expansion, opening new showrooms in California, Arizona, and other key markets beyond its traditional Southeast U.S. stronghold. This expansion strategy aims to reduce geographic concentration risk while capitalizing on construction growth in new regions. The company has also been expanding its dealer network to improve market penetration and customer reach. Strategic acquisitions have become a focus area, with the recent acquisition of Continental Glass Systems for approximately $30 million in annualized revenue. This acquisition provides enhanced U.S. manufacturing capabilities and serves as a strategic step toward broader domestic manufacturing expansion. Management has indicated interest in additional "tuck-in acquisitions" that complement the core business. The company has also implemented several operational improvements including increased automation in manufacturing facilities, capacity expansion to handle over $1 billion in annual revenue, and supply chain optimizations to minimize exposure to potential tariffs. Financial strategy has evolved to include more aggressive capital returns to shareholders, with a 36% dividend increase and expansion of the share repurchase program to $100 million, reflecting management's confidence in the business model and cash generation capabilities.
TGLS company profile · for informational purposes only — not investment advice.
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