Tecnoglass (TGLS)
Market Price (9/25/2026): $35.16 | Market Cap: $1.6 BilSector: Materials | Industry: Construction Materials
Tecnoglass (TGLS)
Market Price (9/25/2026): $35.16Market Cap: $1.6 BilSector: MaterialsIndustry: Construction Materials
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.2% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% Low stock price volatilityVol 12M is 41% Megatrend and thematic driversMegatrends include Sustainable Resource Management, and Sustainable & Green Buildings. Themes include Green Building Materials, and Energy Efficient Building Materials. | Weak multi-year price returns2Y Excs Rtn is -83%, 3Y Excs Rtn is -71% | Short seller report Key risksTGLS key risks include [1] an extreme revenue concentration in the U.S. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.2% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25% |
| Low stock price volatilityVol 12M is 41% |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, and Sustainable & Green Buildings. Themes include Green Building Materials, and Energy Efficient Building Materials. |
| Weak multi-year price returns2Y Excs Rtn is -83%, 3Y Excs Rtn is -71% |
| Short seller report |
| Key risksTGLS key risks include [1] an extreme revenue concentration in the U.S. Show more. |
Qualitative Assessment
AI Analysis | Feedback
Tecnoglass (TGLS) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Margin compression driven by cost headwinds and a strong Colombian Peso eroded profitability despite revenue growth. For fiscal Q2 2026, which ended in June 2026, Tecnoglass reported a significant squeeze on its profitability, with adjusted EBITDA falling to $52 million due to operating expenses rising to $73.5 million from $53 million year-over-year. This was attributed to factors such as rising aluminum costs, higher Colombian wages, and the strengthening Colombian Peso, which adversely impacted production costs (denominated in COP) while the majority of revenue is USD-denominated. The adjusted EBITDA margin specifically fell to 17.5%.
2. Narrowed full-year 2026 guidance signaled a less optimistic outlook to investors. On August 6, 2026, concurrent with its Q2 2026 earnings release, Tecnoglass lowered its financial outlook for the full fiscal year. The company narrowed its revenue guidance range to $1.08 billion to $1.12 billion and adjusted EBITDA guidance to $220 million to $230 million. This revision indicated a more cautious perspective on anticipated performance for the remainder of the year.
Show more
Tecnoglass (TGLS) stock has lost about 20% since 5/31/2026 because of the following key factors:
1. Margin compression driven by cost headwinds and a strong Colombian Peso eroded profitability despite revenue growth. For fiscal Q2 2026, which ended in June 2026, Tecnoglass reported a significant squeeze on its profitability, with adjusted EBITDA falling to $52 million due to operating expenses rising to $73.5 million from $53 million year-over-year. This was attributed to factors such as rising aluminum costs, higher Colombian wages, and the strengthening Colombian Peso, which adversely impacted production costs (denominated in COP) while the majority of revenue is USD-denominated. The adjusted EBITDA margin specifically fell to 17.5%.
2. Narrowed full-year 2026 guidance signaled a less optimistic outlook to investors. On August 6, 2026, concurrent with its Q2 2026 earnings release, Tecnoglass lowered its financial outlook for the full fiscal year. The company narrowed its revenue guidance range to $1.08 billion to $1.12 billion and adjusted EBITDA guidance to $220 million to $230 million. This revision indicated a more cautious perspective on anticipated performance for the remainder of the year.
3. Sustained negative market sentiment and valuation concerns led to significant stock decline. Despite beating consensus estimates for both EPS ($0.54 vs. $0.52) and revenue ($295.3 million vs. $268.43 million) in Q2 2026, the stock experienced a 2.99% decline to $46.25 on the day of the earnings announcement, August 6, 2026. This investor reaction was primarily driven by concerns over compressed margins and the narrowed full-year outlook. The stock continued a downward trend, hitting a 52-week low of $35.30 on September 23, 2026, and experienced a 20.0% decline over the 90 days leading up to September 24, 2026.
Show less
Stock Movement Drivers
Fundamental Drivers
The -19.0% change in TGLS stock from 5/31/2026 to 9/24/2026 was primarily driven by a -16.4% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.95 | 34.79 | -19.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,010 | 1,050 | 3.9% |
| Net Income Margin (%) | 14.8% | 12.4% | -16.4% |
| P/E Multiple | 12.8 | 11.9 | -7.4% |
| Shares Outstanding (Mil) | 45 | 44 | 0.6% |
| Cumulative Contribution | -19.0% |
Market Drivers
5/31/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| TGLS | -19.0% | |
| Market (SPY) | 1.7% | 34.6% |
| Sector (XLB) | -2.5% | 37.0% |
Fundamental Drivers
The -23.1% change in TGLS stock from 2/28/2026 to 9/24/2026 was primarily driven by a -33.1% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.25 | 34.79 | -23.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 978 | 1,050 | 7.4% |
| Net Income Margin (%) | 18.5% | 12.4% | -33.1% |
| P/E Multiple | 11.7 | 11.9 | 1.3% |
| Shares Outstanding (Mil) | 47 | 44 | 5.6% |
| Cumulative Contribution | -23.1% |
Market Drivers
2/28/2026 to 9/24/2026| Return | Correlation | |
|---|---|---|
| TGLS | -23.1% | |
| Market (SPY) | 12.4% | 37.3% |
| Sector (XLB) | -6.2% | 43.4% |
Fundamental Drivers
The -51.5% change in TGLS stock from 8/31/2025 to 9/24/2026 was primarily driven by a -35.5% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.72 | 34.79 | -51.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 956 | 1,050 | 9.9% |
| Net Income Margin (%) | 19.1% | 12.4% | -35.4% |
| P/E Multiple | 18.4 | 11.9 | -35.5% |
| Shares Outstanding (Mil) | 47 | 44 | 5.9% |
| Cumulative Contribution | -51.5% |
Market Drivers
8/31/2025 to 9/24/2026| Return | Correlation | |
|---|---|---|
| TGLS | -51.5% | |
| Market (SPY) | 20.3% | 35.3% |
| Sector (XLB) | 9.6% | 41.9% |
Fundamental Drivers
The -8.2% change in TGLS stock from 8/31/2023 to 9/24/2026 was primarily driven by a -48.7% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9242026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.88 | 34.79 | -8.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 841 | 1,050 | 24.9% |
| Net Income Margin (%) | 24.1% | 12.4% | -48.7% |
| P/E Multiple | 8.9 | 11.9 | 33.4% |
| Shares Outstanding (Mil) | 48 | 44 | 7.4% |
| Cumulative Contribution | -8.2% |
Market Drivers
8/31/2023 to 9/24/2026| Return | Correlation | |
|---|---|---|
| TGLS | -8.2% | |
| Market (SPY) | 76.8% | 42.2% |
| Sector (XLB) | 27.0% | 43.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TGLS Return | 282% | 19% | 50% | 75% | -36% | -29% | 437% |
| Peers Return | 24% | -24% | 50% | -14% | -51% | 2% | -39% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 105% |
Monthly Win Rates [3] | |||||||
| TGLS Win Rate | 50% | 33% | 58% | 67% | 25% | 22% | |
| Peers Win Rate | 56% | 39% | 58% | 50% | 36% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| TGLS Max Drawdown | -45% | -41% | -44% | -30% | -49% | -34% | |
| Peers Max Drawdown | -24% | -42% | -31% | -40% | -62% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: APOG, JELD, NX. See TGLS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/24/2026 (YTD)
How Low Can It Go
| Event | TGLS | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -13.3% | -18.8% |
| % Gain to Breakeven | 15.4% | 23.1% |
| Time to Breakeven | 24 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.7% | -9.5% |
| % Gain to Breakeven | 58.0% | 10.5% |
| Time to Breakeven | 93 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.3% | -24.5% |
| % Gain to Breakeven | 57.1% | 32.4% |
| Time to Breakeven | 148 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -71.2% | -33.7% |
| % Gain to Breakeven | 246.7% | 50.9% |
| Time to Breakeven | 345 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.4% | 23.8% |
| Time to Breakeven | 23 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.4% | -3.7% |
| % Gain to Breakeven | 27.2% | 3.9% |
| Time to Breakeven | 1371 days | 6 days |
In The Past
Tecnoglass's stock fell -13.3% during the 2025 US Tariff Shock. Such a loss loss requires a 15.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | TGLS | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -36.7% | -9.5% |
| % Gain to Breakeven | 58.0% | 10.5% |
| Time to Breakeven | 93 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.3% | -24.5% |
| % Gain to Breakeven | 57.1% | 32.4% |
| Time to Breakeven | 148 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -71.2% | -33.7% |
| % Gain to Breakeven | 246.7% | 50.9% |
| Time to Breakeven | 345 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -20.2% | -19.2% |
| % Gain to Breakeven | 25.4% | 23.8% |
| Time to Breakeven | 23 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -21.4% | -3.7% |
| % Gain to Breakeven | 27.2% | 3.9% |
| Time to Breakeven | 1371 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -30.1% | -12.2% |
| % Gain to Breakeven | 43.1% | 13.9% |
| Time to Breakeven | 1868 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -21.6% | -6.8% |
| % Gain to Breakeven | 27.6% | 7.3% |
| Time to Breakeven | 14 days | 15 days |
In The Past
Tecnoglass's stock fell -13.3% during the 2025 US Tariff Shock. Such a loss loss requires a 15.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Tecnoglass (TGLS)
Tecnoglass Inc. (TGLS) designs, produces, markets, and installs architectural glass and aluminum systems primarily for the commercial and residential construction industries. Headquartered in Barranquilla, Colombia, the company operates across Colombia, the United States, Panama, and other international markets, playing a key role in supplying essential components for building exteriors and interiors.
The company offers a diverse portfolio of products, including various types of specialized glass such as low emissivity, laminated, tempered, and thermo-acoustic options, alongside a range of aluminum products like profiles, bars, and tubes. These components are expertly integrated to form finished architectural solutions, including windows, doors, curtain walls, floating facades, interior dividers, and hurricane-proof systems. Tecnoglass markets its offerings under well-recognized brands like Tecnoglass, ESWindows, and Alutions, reaching customers directly and through a network of distributors.
```AI Analysis | Feedback
- Tecnoglass is like **Andersen Windows** or **Pella** for large-scale, custom architectural glass and aluminum building systems, but they also manufacture their own specialized glass and aluminum materials.
- Imagine a **PPG Industries** or **AGC Inc.** that not only produces specialized architectural glass and aluminum, but also designs, fabricates, and installs entire high-end building facades.
AI Analysis | Feedback
- Architectural Glass Products: Tecnoglass produces specialized glass types, including low emissivity, laminated, tempered, and decorative glass, for various construction applications.
- Aluminum Products: The company manufactures aluminum extrusions such as bars, plates, profiles, rods, and tubes, used in the assembly of architectural glass settings.
- Architectural Systems: Tecnoglass designs and manufactures complete architectural systems like windows, doors, curtain walls, and hurricane-proof windows for commercial and residential buildings.
- Other Architectural Components: The company also provides various other components for architectural systems, including awnings, structures, and automatic doors.
AI Analysis | Feedback
Tecnoglass Inc. (TGLS) primarily sells its products to other companies (B2B) within the construction industry, rather than directly to individual consumers. The provided background information does not list the names of specific major customer companies.
However, based on the description, Tecnoglass serves the following categories of business customers:
- Commercial Construction Companies and Developers: These customers are involved in large-scale projects such as office buildings, retail centers, hotels, and institutional facilities, which require sophisticated architectural glass and aluminum systems like curtain walls, facades, and commercial display windows.
- Residential Construction Companies and Developers: Specifically those engaged in multi-family residential projects (e.g., apartment complexes, condominiums) that utilize high-performance windows, doors, and other architectural glass components.
- Distributors: Tecnoglass sells its products directly to distributors, who then supply the products to various contractors, fabricators, and smaller construction firms involved in both commercial and residential projects.
AI Analysis | Feedback
AI Analysis | Feedback
José Manuel Daes, Chief Executive Officer and Chairman of the Board
José Manuel Daes is the co-founder of the Tecnoglass group, which he started with his brother Christian Daes. He has over 30 years of experience in business operations across Colombia and the United States. He has led the Tecnoglass group since 1983, which began with ESWindows, and formally established Tecnoglass S.A. in 1994. Mr. Daes is responsible for the company's ethical and responsible management, continuous growth, and the development of innovative products to meet evolving customer needs in the commercial and residential construction markets.
Christian T. Daes, Chief Operating Officer and Director
Christian T. Daes is the co-founder of the Tecnoglass group alongside his brother, José Manuel Daes. He leads the company's automation projects, aiming to reduce material consumption and increase efficiency, while also ensuring high safety standards. Mr. Daes drives corporate strategy through innovation, technology utilization, energy generation from alternative sources, and stakeholder solidarity. He started with a solar water heater panel company in 1984, which later evolved into aluminum window manufacturing and then Tecnoglass.
Santiago Giraldo, Chief Financial Officer
Santiago Giraldo joined Tecnoglass in 2016 as Deputy Chief Financial Officer and Head of Investor Relations, before being promoted to Chief Financial Officer in 2017. He possesses significant financial experience, particularly in capital markets, bank debt, derivatives, treasury, mergers and acquisitions (M&A), and equity-related transactions. Prior to joining Tecnoglass, Mr. Giraldo served as Chief Financial Officer and Head of Business Development and Strategy at Ocensa, a subsidiary of Ecopetrol S.A., Colombia's largest publicly traded company. His earlier career included 10 years in the United States, working with JPMorgan Chase and Wells Fargo within their Corporate Bank Units, and four years as a Vice-President within the Corporate Bank group at Citibank Colombia.
```AI Analysis | Feedback
Here are the key risks to Tecnoglass's business:
-
Geographic Concentration and Economic Cyclicality: Tecnoglass derives a significant portion of its U.S. revenue, over 90%, from the Florida market. This geographic concentration exposes the company to substantial risks from economic downturns, changes in building codes, or other adverse economic and regulatory conditions specific to this single state. The construction industry, in general, is sensitive to economic cycles, meaning a broader economic slowdown could lead to reduced demand for Tecnoglass's products.
-
Input Cost Pressures and Supply Chain Disruptions: The company faces ongoing challenges from fluctuating raw material costs, particularly for aluminum, and the impact of tariffs. U.S. Midwest aluminum premiums more than doubled in 2025, creating industry-wide margin pressure. Global supply chain disruptions, including shipping delays and increased transportation costs, can adversely affect Tecnoglass's ability to deliver products on time and maintain competitive pricing, directly impacting profitability.
-
Foreign Currency Fluctuations: Tecnoglass is exposed to risks associated with fluctuations in currency exchange rates, primarily involving the Colombian peso against the U.S. dollar. A significant revaluation of the Colombian peso or other unfavorable foreign exchange rates can negatively affect the company's sales, cost of sales, operating margins, and cash flows, as a portion of its expenses and revenues are denominated in Colombian pesos.
AI Analysis | Feedback
AI Analysis | Feedback
Tecnoglass Inc. operates in significant addressable markets within the commercial and residential construction industries, offering a range of architectural glass and aluminum products across various regions.
Architectural Glass Products
- Global: The global architectural flat glass market was valued at an estimated USD 219.3 billion in 2024 and is projected to reach USD 285.3 billion by 2033. Another report estimates the global architectural glass market at USD 103.78 billion in 2026, with a projection to reach USD 186.63 billion by 2035.
- United States: The U.S. architectural flat glass market generated an estimated revenue of USD 11,452.1 million in 2024 and is expected to grow to USD 15,638.7 million by 2030.
- North America: The North America architectural flat glass market was valued at USD 80.46 billion in 2025 and is anticipated to grow to USD 107.11 billion by 2034.
Aluminum Products (Bars, Plates, Profiles, Rods, and Tubes for Architectural Systems)
- Global: The global aluminum profiles and accessories market was valued at USD 56.39 billion in 2024 and is projected to increase to approximately USD 123.44 billion by 2034. Focusing specifically on architectural aluminum profiles, this market was estimated at USD 15 billion in 2025 and is projected to reach approximately USD 25 billion by 2033. The broader global construction aluminum market reached US$75,345.01 million in 2024 and is expected to reach US$1,20,653.41 million by 2032.
- North America: North America holds the largest share of the extruded aluminum profiles market.
Windows and Doors
- Global: The global windows and doors market size was valued at USD 209.99 billion in 2024 and is expected to reach USD 315.01 billion by 2032. Another estimate places the global market size at USD 275.16 billion in 2025, projected to reach USD 388.16 billion by 2033.
- United States: The U.S. windows and doors market was valued at USD 25.9 billion in 2024 and is forecast to grow to USD 34.4 billion by 2032. Another report indicates the U.S. windows and doors market generated USD 30,757.6 million in 2025 and is expected to reach USD 41,181.9 million by 2033.
Curtain Wall/Floating Facades
- Global: The global curtain walls market size is expected to be worth USD 50.97 billion in 2024 and is anticipated to reach around USD 106.23 billion by 2034. The global glass curtain wall market size was estimated at USD 62.4 billion in 2024 and is projected to reach USD 104.2 billion by 2030.
- United States: The U.S. glass curtain wall market size was estimated at USD 8.26 billion in 2022 and is expected to grow at a CAGR of 6.6% from 2023 to 2030. In 2024, the United States accounted for USD 9.7 billion in revenue within the North American curtain wall market.
Construction Market Overview (Colombia and Panama - proxy for product markets)
- Colombia: The Colombian building market size is forecast to reach $8,344.87 million by 2030. The Colombia construction market size is projected to expand at a CAGR of 6.60% between 2026 and 2035.
- Panama: Panama's construction industry is estimated to have recorded real growth of 2.9% in 2025. The industry's output value is expected to increase from US$12.4 billion in 2020 to US$18.6 billion in 2021. In 2025, the economic value of construction permits in the capital reached $775.5 million.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for Tecnoglass (TGLS) over the next 2-3 years:
- Expanding Dealer Network and Geographic Diversification: Tecnoglass is focusing on expanding its dealer network and diversifying its geographic reach, particularly within the single-family residential business. This strategy contributed to record revenues in 2025 for this segment and is highlighted as a long-term growth strategy, especially in underpenetrated areas of the Southeast and Southcentral U.S.. The company's backlog growth is also partially driven by geographic expansion.
- Robust Demand in Multifamily and Commercial Business & Record Backlog: The multifamily and commercial segments are experiencing strong demand for high-performance products, driving revenue growth. This is evidenced by impressive growth in this business, which significantly contributed to the company's overall revenue increase in 2025. Tecnoglass reported a record backlog of $1.3 billion at the end of 2025, providing strong revenue visibility through 2026 and 2027.
- Expansion of Vinyl Product Line: The growing contributions from the vinyl product line are noted as a key driver for the single-family residential business. Tecnoglass is actively ramping up and diversifying its manufacturing footprint, partly through acquisitions like Continental Glass System, to support the expansion of its vinyl windows product portfolio.
- Strategic Pricing Initiatives: The company has demonstrated pricing discipline and implemented strategic pricing initiatives to maintain its gross margin profile, even amidst external cost challenges. A 5%-7% price increase in May 2025 for single-family residential orders is now fully reflected in current orders, positively impacting revenue.
- Potential for New U.S. Automated Manufacturing Facility: Tecnoglass is conducting feasibility studies for a new automated manufacturing facility in Florida. This initiative aims to diversify manufacturing, improve logistics, and enhance labor efficiency. While a significant capital expenditure, this new facility could support future growth and operational improvements over the next few years.
AI Analysis | Feedback
Share Repurchases
- Tecnoglass repurchased $118 million in shares during 2025, including $87.6 million in the fourth quarter of 2025.
- The Board expanded the share repurchase authorization to $250 million in February 2026.
- Approximately $110 million of repurchasing power remained under the $250 million authorization as of February 2026.
Share Issuance
- Tecnoglass has focused on avoiding dilutive equity raises, protecting shareholder value, and there is no information on significant share issuances in the last 3-5 years.
Outbound Investments
- In March 2025, Tecnoglass acquired assets from Continental Glass Systems for approximately $30 million.
Capital Expenditures
- Capital expenditures totaled $89 million for the full year 2025, which included $15.1 million related to the Continental Glass asset acquisition.
- The company's 2026 capital expenditure guidance is projected to be between $60 million and $75 million, not including a potential $20 million to $25 million land purchase for a prospective automated U.S. facility.
- A primary focus of capital expenditures includes the vertical integration of aluminum extrusion capabilities at its Colombia manufacturing facility and investment in a soft-coating facility for low emissivity glass.
Peer Outperformance in Construction Materials
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 80.1% | 105.8% | 328.9% | COPR 497% · TGB 393% · HBM 354% |
| Steel | 13 | 13.4% | 31.5% | 164.7% | HCC 355% · STLD 324% · NWPX 318% |
| Gold | 38 | 21.9% | 199.4% | 161.8% | AUGO 961% · IAG 780% · AU 612% |
| Silver | 6 | 79.1% | 313.6% | 159.6% | AYA 343% · HL 235% · SVM 201% |
| Aluminum | 4 | 56.2% | 100.2% | 46.8% | CENX 178% · KALU 66% · CSTM 27% |
| Construction Materials ← | 9 | -21.3% | 14.5% | 42.9% | USLM 365% · CRH 80% · TGLS 66% |
| Diversified Metals & Mining | 24 | -26.5% | -15.0% | 18.0% | ATLX 189900% · USAR 51511% · TII 713% |
| Paper & Plastic Packaging Products & Materials | 7 | 11.0% | 8.0% | -8.3% | PKG 94% · CCK 7% · SON 0% |
| Metal, Glass & Plastic Containers | 12 | 2.6% | 11.6% | -15.8% | KRT 208% · MYE 84% · GEF 54% |
| Specialty Chemicals | 42 | 10.3% | 2.0% | -16.5% | ODC 495% · NEU 194% · CMT 99% |
| Precious Metals & Minerals | 8 | 20.7% | 180.3% | -24.8% | ASM 608% · PPTA 365% · MTA 49% |
| Diversified Chemicals | 4 | -2.6% | -28.7% | -28.1% | CBT 75% · ASH -18% · CC -39% |
| Commodity Chemicals | 12 | 12.7% | -17.4% | -30.0% | HWKN 282% · KOP 53% · MEOH 43% |
| Fertilizers & Agricultural Chemicals | 10 | -12.0% | -7.9% | -41.1% | CF 140% · CTVA 98% · NTR 36% |
| Paper Products | 4 | -27.5% | -53.1% | -70.1% | SLVM 36% · CLW -44% · ITP -96% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Tecnoglass Stock Surges 12%, With A 7-Day Winning Spree | 04/02/2026 | |
| Tecnoglass Earnings Notes | 12/29/2026 | |
| Is 23.1% Fall In Tecnoglass (TGLS) Stock A Buying Opportunity? | 11/08/2025 | |
| Is Tecnoglass Stock Built to Withstand More Downside? | 10/17/2025 | |
| ARTICLES | ||
| Tecnoglass or CRH: Which Stock Has More Upside? | 05/20/2026 | |
| Between Tecnoglass and CRH, Which Stock Looks Set to Break Out? | 03/09/2026 | |
| Tecnoglass vs CRH: Which Is the Stronger Buy Today? | 12/02/2025 | |
| Tecnoglass Stock To $65? | 11/08/2025 | |
| Is TGLS Trading At A Bargain? | 09/09/2025 |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 27.04 |
| Mkt Cap | 0.8 |
| Rev LTM | 1,634 |
| Op Inc LTM | 98 |
| FCF LTM | 41 |
| FCF 3Y Avg | 58 |
| CFO LTM | 102 |
| CFO 3Y Avg | 128 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.2% |
| Rev Chg 3Y Avg | 3.6% |
| Rev Chg Q | 1.5% |
| QoQ Delta Rev Chg LTM | 0.4% |
| Op Inc Chg LTM | -26.4% |
| Op Inc Chg 3Y Avg | -10.7% |
| Op Mgn LTM | 6.0% |
| Op Mgn 3Y Avg | 7.1% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 7.8% |
| CFO/Rev 3Y Avg | 9.4% |
| FCF/Rev LTM | 2.0% |
| FCF/Rev 3Y Avg | 5.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.8 |
| P/S | 0.5 |
| P/Op Inc | 7.9 |
| P/EBIT | 7.4 |
| P/E | 13.0 |
| P/CFO | 6.1 |
| Total Yield | 8.4% |
| Dividend Yield | 1.7% |
| FCF Yield 3Y Avg | 4.8% |
| D/E | 0.7 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -13.0% |
| 3M Rtn | -4.8% |
| 6M Rtn | 11.6% |
| 12M Rtn | -31.7% |
| 3Y Rtn | -22.3% |
| 1M Excs Rtn | -13.3% |
| 3M Excs Rtn | -9.6% |
| 6M Excs Rtn | -6.7% |
| 12M Excs Rtn | -49.1% |
| 3Y Excs Rtn | -98.7% |
Comparison Analyses
Price Behavior
| Market Price | $34.79 | |
| Market Cap ($ Bil) | 1.5 | |
| First Trading Date | 05/10/2012 | |
| Distance from 52W High | -48.3% | |
| 50 Days | 200 Days | |
| DMA Price | $41.32 | $44.89 |
| DMA Trend | down | down |
| Distance from DMA | -15.8% | -22.5% |
| 3M | 1YR | |
| Volatility | 43.9% | 41.0% |
| Downside Capture | 287.43 | 166.05 |
| Upside Capture | 111.04 | 61.11 |
| Correlation (SPY) | 33.0% | 34.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.58 | 1.05 | 0.97 | 1.14 | 1.09 | 1.22 |
| Up Beta | 1.22 | -1.23 | 0.17 | 1.04 | 0.95 | 1.18 |
| Down Beta | -2.29 | 1.35 | 0.74 | 1.04 | 1.17 | 0.84 |
| Up Capture | 114% | 105% | 113% | 90% | 51% | 227% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 7 | 16 | 31 | 63 | 118 | 368 |
| Down Capture | 409% | 274% | 151% | 142% | 137% | 109% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 14 | 26 | 33 | 64 | 133 | 381 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TGLS | |
|---|---|---|---|---|
| TGLS | -49.1% | 41.0% | -1.54 | - |
| Sector ETF (XLB) | 11.8% | 18.0% | 0.47 | 41.1% |
| Equity (SPY) | 16.7% | 13.0% | 0.92 | 35.0% |
| Gold (GLD) | 13.1% | 29.3% | 0.42 | 5.9% |
| Commodities (DBC) | 45.1% | 20.7% | 1.71 | -27.5% |
| Real Estate (VNQ) | 3.7% | 13.7% | 0.01 | 29.2% |
| Bitcoin (BTCUSD) | -24.8% | 44.8% | -0.51 | 10.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TGLS | |
|---|---|---|---|---|
| TGLS | 10.5% | 52.7% | 0.39 | - |
| Sector ETF (XLB) | 5.7% | 19.1% | 0.19 | 45.1% |
| Equity (SPY) | 12.9% | 17.2% | 0.57 | 43.5% |
| Gold (GLD) | 19.0% | 18.8% | 0.82 | 3.3% |
| Commodities (DBC) | 10.6% | 19.6% | 0.42 | 2.8% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 39.0% |
| Bitcoin (BTCUSD) | 12.0% | 52.6% | 0.41 | 23.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TGLS | |
|---|---|---|---|---|
| TGLS | 13.9% | 54.5% | 0.46 | - |
| Sector ETF (XLB) | 10.0% | 20.7% | 0.42 | 39.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 37.1% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 1.8% |
| Commodities (DBC) | 8.5% | 18.1% | 0.39 | 10.5% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 36.3% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 10.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -6.9% | ||
| 5/7/2026 | -3.7% | -12.5% | -3.9% |
| 2/26/2026 | -6.3% | -7.0% | -14.0% |
| 11/6/2025 | -6.4% | -16.9% | -8.7% |
| 8/7/2025 | -4.1% | 6.0% | -7.1% |
| 5/8/2025 | 15.8% | 19.2% | 24.9% |
| 2/27/2025 | 9.0% | -1.6% | 2.8% |
| 11/7/2024 | 0.2% | 5.1% | 18.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 12 | 16 | 15 |
| # Negative | 13 | 8 | 9 |
| Median Positive | 9.4% | 11.4% | 15.0% |
| Median Negative | -4.2% | -9.7% | -8.7% |
| Max Positive | 18.7% | 36.3% | 69.1% |
| Max Negative | -13.3% | -22.2% | -21.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/6/2026 | -6.9% | ||
| 5/7/2026 | -3.7% | -12.5% | -3.9% |
| 2/26/2026 | -6.3% | -7.0% | -14.0% |
| 11/6/2025 | -6.4% | -16.9% | -8.7% |
| 8/7/2025 | -4.1% | 6.0% | -7.1% |
| 5/8/2025 | 15.8% | 19.2% | 24.9% |
| 2/27/2025 | 9.0% | -1.6% | 2.8% |
| 11/7/2024 | 0.2% | 5.1% | 18.5% |
| 8/8/2024 | 13.5% | 21.3% | 24.1% |
| 5/9/2024 | -0.5% | 8.8% | -12.2% |
| 2/29/2024 | -4.2% | -3.7% | 10.5% |
| 11/6/2023 | -12.1% | -3.6% | 8.6% |
| 8/8/2023 | -13.3% | -22.2% | -21.0% |
| 5/4/2023 | -4.7% | 5.3% | -7.8% |
| 3/2/2023 | 9.8% | 16.3% | 15.0% |
| 11/3/2022 | 18.7% | 24.7% | 58.5% |
| 8/4/2022 | -0.5% | 11.7% | -5.7% |
| 5/4/2022 | -3.0% | -19.0% | -9.0% |
| 3/3/2022 | 3.6% | 11.2% | 19.2% |
| 11/8/2021 | 3.5% | 9.0% | 11.1% |
| 8/6/2021 | 13.8% | 16.0% | 10.8% |
| 5/7/2021 | 4.6% | 36.3% | 69.1% |
| 3/2/2021 | 4.1% | 31.1% | 62.1% |
| 11/6/2020 | -1.5% | 9.6% | 14.8% |
| 8/6/2020 | 10.1% | 8.2% | 4.5% |
| SUMMARY STATS | |||
| # Positive | 12 | 16 | 15 |
| # Negative | 13 | 8 | 9 |
| Median Positive | 9.4% | 11.4% | 15.0% |
| Median Negative | -4.2% | -9.7% | -8.7% |
| Max Positive | 18.7% | 36.3% | 69.1% |
| Max Negative | -13.3% | -22.2% | -21.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/06/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/02/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/08/2023 | 10-Q |
| 12/31/2022 | 03/07/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/16/2022 | 10-K |
| 09/30/2021 | 11/08/2021 | 10-Q |
| 06/30/2021 | 08/06/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 03/08/2021 | 10-K |
| 09/30/2020 | 11/06/2020 | 10-Q |
| 06/30/2020 | 08/06/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/06/2020 | 10-K |
| 09/30/2019 | 11/08/2019 | 10-Q |
Recent Forward Guidance
Updated 9/22/2026Latest: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 1.08 Bil | 1.10 Bil | 1.12 Bil | 0.5% | Raised | Guidance: 1.09 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 220.00 Mil | 225.00 Mil | 230.00 Mil | -4.3% | Lowered | Guidance: 235.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 1.06 Bil | 1.09 Bil | 1.13 Bil | 0 | Affirmed | Guidance: 1.09 Bil for 2026 | |
| 2026 Adjusted EBITDA | Reported | 225.00 Mil | 235.00 Mil | 245.00 Mil | -17.5% | Lowered | Guidance: 285.00 Mil for 2026 | |
Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | Reported | 1.06 Bil | 1.09 Bil | 1.13 Bil | 11.7% | Higher New | Guidance: 980.00 Mil for 2025 | |
| 2026 Revenue Growth | Reported | 11.0% | 1.0% | Higher New | Guidance: 10.0% for 2025 | |||
| 2026 Adjusted EBITDA | Reported | 265.00 Mil | 285.00 Mil | 305.00 Mil | -4.7% | Lower New | Guidance: 299.00 Mil for 2025 | |
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 970.00 Mil | 980.00 Mil | 990.00 Mil | -2.0% | Lowered | Guidance: 1.00 Bil for 2025 | |
| 2025 Revenue Growth | Reported | 10.0% | ||||||
| 2025 Adjusted EBITDA | Reported | 294.00 Mil | 299.00 Mil | 304.00 Mil | -5.8% | Lowered | Guidance: 317.50 Mil for 2025 | |
| 2025 Adjusted EBITDA Growth | Reported | 8.0% | ||||||
Insider Activity
Updated 5/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Energy, Holding Corp | Direct | Buy | 5182026 | 40.27 | 19,121 | 770,052 | 838,958,199 | Form | |
| 2 | Energy, Holding Corp | Direct | Buy | 5182026 | 40.56 | 80,879 | 3,280,525 | 844,188,495 | Form | |
| 3 | Energy, Holding Corp | Direct | Buy | 3162026 | 45.11 | 107,629 | 4,855,467 | 935,282,039 | Form | |
| 4 | Energy, Holding Corp | Direct | Buy | 3162026 | 45.28 | 107,600 | 4,872,343 | 933,912,088 | Form | |
| 5 | Carricarte, Anne Louise | Direct | Buy | 3102026 | 43.27 | 1,100 | 47,602 | 47,602 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Energy, Holding Corp | Direct | Buy | 5182026 | 40.27 | 19,121 | 770,052 | 838,958,199 | Form | |
| 2 | Energy, Holding Corp | Direct | Buy | 5182026 | 40.56 | 80,879 | 3,280,525 | 844,188,495 | Form | |
| 3 | Energy, Holding Corp | Direct | Buy | 3162026 | 45.11 | 107,629 | 4,855,467 | 935,282,039 | Form | |
| 4 | Energy, Holding Corp | Direct | Buy | 3162026 | 45.28 | 107,600 | 4,872,343 | 933,912,088 | Form | |
| 5 | Carricarte, Anne Louise | Direct | Buy | 3102026 | 43.27 | 1,100 | 47,602 | 47,602 | Form | |
| 6 | Energy, Holding Corp | Direct | Sell | 8142025 | 79.03 | 1,495,898 | 118,220,819 | 1,597,203,413 | Form | |
| 7 | Energy, Holding Corp | Direct | Sell | 5142025 | 82.30 | 1,490,000 | 122,627,000 | 1,786,402,812 | Form |
Investor Activity (13F)
Updated Sep 25, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Tecnoglass — Investor Video Playlist
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Construction Materials Resources |
| Construction Europe |
| Aggregates Business |
| Concrete Products |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.