Tecnoglass Holdings Inc. key statistics and ratios

In fiscal 2025, Tecnoglass Holdings Inc. had return on equity of 23.7%, an operating margin of 23.5%, debt equal to 24.5% of equity and a current ratio of 1.86. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Tecnoglass Holdings Inc.: financial ratios, annual
Fiscal year	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	26.8%	30.2%	33.6%	37.5%	36.9%	31.5%	32.4%	31.5%	37.0%	40.8%	48.8%	46.9%	42.7%	42.8%	39.6%
Operating margin	8.4%	14.9%	13.8%	16.3%	15.7%	10.9%	12.7%	13.6%	17.4%	23.5%	31.6%	31.2%	25.5%	23.5%	18.3%
Net margin	4.5%	13.3%	4.8%	−4.5%	7.6%	1.7%	2.4%	5.7%	6.3%	13.7%	21.7%	21.9%	18.1%	16.2%	12.4%
Free-cash-flow margin	−25.5%	−5.1%	−15.0%	−5.1%	−8.5%	2.3%	−4.9%	0.2%	14.2%	13.2%	9.9%	7.3%	10.2%	3.5%	−0.8%
Return on equity	12.5%	51.9%	20.4%	−26.2%	30.6%	4.7%	7.2%	15.4%	12.1%	30.2%	52.6%	40.8%	27.4%	23.7%	17.3%
Return on assets	3.8%	12.1%	3.8%	−3.9%	6.5%	1.3%	1.9%	4.6%	4.3%	12.2%	23.5%	21.6%	16.3%	14.0%	9.6%
Asset turnover	0.85	0.91	0.79	0.85	0.85	0.73	0.77	0.81	0.68	0.89	1.08	0.98	0.90	0.86	0.78
Current ratio	1.56	1.43	1.21	1.28	2.69	2.16	2.39	2.50	3.03	2.10	2.06	2.27	2.11	1.86	1.86
Debt to equity	121.1%	166.0%	203.9%	494.9%	20.9%	186.5%	183.1%	139.2%	107.9%	84.1%	49.7%	31.6%	17.6%	24.5%	28.9%
Interest cover (operating income ÷ interest)	2.0x	3.5x	3.1x	4.3x	2.8x	1.7x	2.2x	2.6x	3.2x	13.8x	33.4x	32.7x	36.5x	38.7x	89.8x
Effective tax rate	35.4%	26.2%	47.3%	—	40.9%	50.3%	41.3%	34.8%	35.3%	29.4%	32.3%	29.8%	28.4%	32.2%	33.7%
Capital spending as % of revenue	19.9%	10.9%	12.6%	6.2%	7.5%	2.2%	3.5%	5.8%	4.9%	10.4%	10.0%	9.4%	8.9%	10.3%	8.7%
Free cash flow ÷ net income	−563.8%	−37.9%	−311.8%	—	−112.1%	131.8%	−201.0%	2.9%	223.6%	96.5%	45.3%	33.3%	56.4%	21.6%	−6.8%
Dividends ÷ net income	—	—	—	—	3.2%	45.3%	30.1%	21.3%	15.9%	7.7%	8.3%	9.0%	12.2%	17.6%	21.1%
Dividends and buybacks ÷ free cash flow	—	—	—	—	—	34.4%	—	734.1%	7.1%	8.0%	18.2%	65.7%	22.0%	423.5%	—

US$ thousands unless shown otherwise. Fiscal quarters.

Tecnoglass Holdings Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	45.8%	44.5%	43.9%	—	42.7%	40.0%	38.5%	37.3%
Operating margin	28.4%	28.0%	26.7%	>999%	25.1%	18.3%	18.0%	12.4%
Net margin	20.8%	19.6%	19.0%	18.2%	18.1%	10.6%	12.8%	8.3%
Free-cash-flow margin	7.5%	14.8%	7.4%	<−999%	8.2%	4.7%	−4.2%	−10.5%
Current ratio	2.21	2.11	1.94	2.00	1.98	1.86	1.77	1.86
Debt to equity	20.3%	17.3%	15.9%	14.8%	14.6%	24.1%	27.2%	28.6%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

6 of 7 checks passed · June 30, 2026

What it owns · $1.4bn

Short-term assets $730mLonger-term assets $700m

What it owes, and who funded it · $1.4bn

Short-term liabilities $393mLonger-term liabilities $248mShareholders' equity $789m

Short-term assets cover short-term liabilities $730m of assets due within a year against $393m of liabilities due within a year.
Short-term assets cover long-term liabilities $730m short-term assets against $248m of longer-dated liabilities.
More cash than debt $81m of cash against $225m of debt.
Debt below 40% of shareholders' equity Debt is 29% of equity.
Debt burden no higher than five years ago Debt to equity moved from 77% to 29% over five years.
A year's operating cash flow covers at least 20% of debt $82m of operating cash flow against $225m of debt.
Operating profit covers interest at least five times over Operating income of $192m against $2m of interest.

From Tecnoglass Holdings Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

58 /100

Moderate moat

How hard Tecnoglass's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 15 / 20

Net income has been a median 9.3% of total assets over 10 years.
Pricing power 7 / 20

Gross margin has been a median 39.3%, moving by 8.9 percentage points (standard deviation) across 10 years.
Durability 14 / 20

Operating margin has been a median 19.5%; its worst year was 11.5%.
Cash conversion 9 / 20

Free cash flow was positive in 6 of 10 years, at a median 5.6% of revenue.
Discipline 18 / 20

The diluted share count fell 3.7% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (63 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: HAYW vs TGLS TGLS vs TREX JBI vs TGLS

More: Building Products stocks compared, Industrials sector, rankings of US companies

Figures from Tecnoglass Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Tecnoglass Holdings Inc.