Tecnoglass Holdings Inc. (TGLS)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.1B

Revenue growth

9.9%

Net income, last twelve months

$173.8M

Earnings per share

$2.84

Gross margin

39.6%

Operating margin

18.3%

Net margin

16.6%

Free cash flow

-$8.9M

Return on equity

22.0%

Market value

$1.7B

Price to earnings

13.3x

Cash

$80.8M

Debt

$228.2M

Debt to equity

0.29

Shares outstanding

44.4M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 6 August 2026.

• Record second-quarter revenue up 15.6%. Revenue was $295.3 million against $255.5 million a year earlier. Foreign currency changes added $0.9 million to revenue in the quarter.
• Net income and EPS declined. Net income was $24.6 million, or $0.55 diluted, versus $44.1 million, or $0.94, a year earlier. Results include a $5.2 million non-cash foreign exchange gain.
• Adjusted EBITDA margin 17.5%. Adjusted EBITDA was $51.7 million, 17.5% of revenue, against 31.2% a year earlier. Adjusted net income was $23.8 million, or $0.54 per diluted share.
• Multi-family and commercial grew 15.7%. Multi-family and commercial revenue reached a record $168.8 million. Management cited activity in key markets, including growth beyond Florida.
• Single-family residential grew 15.4%. Single-family residential revenue reached a record $126.5 million. Management credits share gains and geographic expansion for the increase.
• Showrooms, dealers and vinyl gaining traction. The COO said new showrooms, an expanding dealer network and vinyl lines are gaining traction, helping single-family sales grow outside Florida.
• U.S. revenue grew 18.1%. United States revenue was $286.2 million, up 18.1%. The company states the United States accounts for over 95% of total revenues.
• Colombia and other countries declined. Colombian revenue fell 7.1% to $6.2 million, and other countries fell 55.9% to $2.9 million, according to the regional table.
• Gross margin fell to 37.3%. Gross profit was $110.0 million, a 37.3% margin, against 44.7% a year earlier. Costs rose on aluminum, Colombian minimum wage and a peso up about 14%, partly offset by volume.
• Aluminum cost up about 77%. The average all-in U.S. aluminum price, including the Midwest premium, rose about 77% year-over-year, raising raw material costs.
• Tariff expenses lifted SG&A. SG&A was $73.5 million, or 24.9% of revenue. About $17.0 million of expenses tied to Section 232 tariffs on finished aluminum window imports drove the rise, with higher freight and commissions.
• Severance included in gross margin. About $0.7 million of severance from headcount reductions was among the items cited in the gross margin change.
• Pricing and automation as response. Management says pricing actions, logistics optimization and accelerated automation are its response to aluminum, peso and tariff costs.
• Backlog set another record. Backlog reached another record and has grown sequentially each quarter since 2021, the COO said.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 190 held.

Every filing

The newest filings with the SEC of 392 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

199 funds held it at 30 Jun 2026: 77 added and 52 trimmed in the quarter. The largest:

What the company does

Tecnoglass is a vertically integrated manufacturer, supplier and installer of aluminum and vinyl windows and architectural glass for commercial and residential construction. The company is headquartered in Miami, Florida, and does most of its manufacturing in Colombia. It operates a footprint of approximately 6.5 million square feet across Colombia and the United States. At the end of 2025 it had 9,601 employees.

What it makes

The company transforms raw glass into finished architectural glass and builds windows and facades around it. It also extrudes aluminum bars, plates, profiles, rods and tubes, sold under the Alutions brand.

The company also sells hurricane-proof windows, which it describes as protecting against winds up to 180 mph and wind-borne debris, and StormArmour attachments for sliding doors. Its main brands are Tecnoglass, ESWindows and Alutions. It began selling vinyl windows in late 2023.

How the business is organised

Tecnoglass Inc. is a Cayman Islands holding company that runs its operations through subsidiaries. Tecnoglass S.A.S (TG) and C.I. Energía Solar S.A.S E.S. Windows (ES) are Colombian companies founded in 1994 and 1983. On 3 April 2025 the company acquired certain assets of Continental Glass Systems, LLC, a glass and glazing provider in the Southeast United States.

For raw glass, the company holds a 25.8% minority interest in Vidrio Andino Holdings S.A.S., a Colombia-based subsidiary of Compagnie de Saint-Gobain S.A. Energy Holding Corporation, which is controlled by members of the Daes family, beneficially owned approximately 44.1% of the ordinary shares.

Where it makes things

Most products come from a 6.1 million square foot manufacturing complex in Barranquilla, Colombia. The company says the vast majority of its business runs from this single site. The Barranquilla port is 16 kilometers from the plant. Products can reach Miami by ship in three days and New York in one week, or Houston and Miami by air within a few hours. The company generally builds to order and does not hold large inventories.

Main materials are glass, ionoplast, polyvinyl butyral, and aluminum and vinyl extrusions. Two suppliers made up 37.3% of raw material purchases in 2025. The Colombian sites have more than 15,000 solar panels, with capacity to generate approximately five megawatts. Colombian pesos made up approximately 3.2% of revenues and 25% of expenses, and the rest was in United States dollars.

Who buys from it

Customers include architects, building owners, general contractors and glazing contractors. The 100 largest customers made up over 81% of sales in 2025, and the ten largest made up 33.9%. No single customer accounted for more than 10% of revenues. Of the 100 largest, approximately 98% are in North America and 2% in Latin America. The company has no long-term requirements contracts.

Sales in Florida were more than 90% of United States revenue, and nearly 13.1% of the United States backlog is for projects outside Florida. United States residential sales were 41.0% of total sales. The company sells through its own sales representatives, independent representatives and directly to distributors. It has opened showrooms in New York City, Charleston, Houston, Bonita Springs and Phoenix.

How it competes

In the United States the company names Viracon, PGT, Cardinal Glass and Oldcastle Glass as competitors, and in Colombia and Latin America Vitro and Vitelco. It estimates that it captures between 1% and 2% of the United States market. Glass Magazine ranked it among the four largest glass fabricators serving the United States in 2025. The company lists quality, price, reputation, breadth of products and services, and shorter lead times as the main competitive factors.

It holds the Miami-Dade County Notice of Acceptance, which is required to market hurricane-resistant glass in Florida. Its subsidiaries also hold ISO 9001:2015 and other certifications, and the company meets Insulating Glass Certification Council and Safety Glazing Certification Council requirements. Standard warranties generally run from five to ten years. About 5% of production is randomly selected for quality checks.

Its people

None of the 9,601 employees is represented by a union. The company reports a Lost Time Injury Frequency Rate of 2.0%, against approximately 8.3% for glass and metal manufacturers in Colombia. Its filing says most employees are hired through temporary staffing companies on one-year fixed-term contracts. Sales and administrative staff are approximately 38% female and 62% male. In 2025 the Tecnoglass ES Windows Foundation supported over 500 students through scholarships and delivered more than 110 housing improvements for employees.

*From Tecnoglass's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1534675/000149315226008465/form10-k.htm)*

From the company's 10-K.