Tecnoglass Holdings Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Tecnoglass Holdings Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	305	314	371	431	377	497	717	833	890	984
Cost of revenue	192	215	251	295	237	294	367	442	510	562
Gross profit	113	99.2	120	136	139	203	349	391	380	421
General and administrative	27.8	31	33.6	35.1	34.7	35.8	54.1	63.1	71.7	90.9
Operating expenses	64.8	64.8	73	77	73.7	85.6	123	131	153	196
Operating income	47.8	34.4	47.2	58.8	65.7	117	226	260	227	231
Interest expense	16.8	19.9	21.2	22.8	20.7	8.48	6.79	7.94	6.22	5.97
Other non-operating income	4.16	3.19	2.92	1.57	0.1	0.61	4.22	5.13	5.86	3.13
Pre-tax income	39.3	11.5	14.5	37.2	36.9	96.9	231	261	225	235
Income tax	16.1	5.79	5.98	12.9	13	28.5	74.8	77.9	63.8	75.7
Net income to minority interests		0.28	-0.55	-0.27	-0.03	0.28	0.67	0.63
Net income	23.2	5.45	9.03	24.5	23.9	68.2	156	183	161	160
EBITDA	63.4	55.3	70.4	81.6	86.3	138	246	282	253	268
EPS, basic	0.68	0.15	0.22	0.55	0.51	1.43	3.27	3.85	3.43	3.42
EPS, diluted	0.66	0.14	0.21	0.55	0.51	1.43	3.27	3.85	3.43	3.42
Shares, basic (weighted)	34.4	38.6	39.1	44.5	46.4	47.7	47.7	47.5	47	46.7
Shares, diluted (weighted)	35	39.2	39.5	44.5	46.4	47.7	47.7	47.5	47	46.7

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	26.9	40.9	33	47.9	67.7	85	104	130	135	101
Short-term investments	1.54	1.68	1.16	2.3	2.39	1.98	2.05	2.91	2.65	3.15
Receivables	92.3	110	92.8	111	89.4	111	158	166	203	239
Inventory	55.1	71.7	91.8	82.7	81.2	85	125	159	140	214
Other current assets	16.1	17.5	20.3	29.3	13.9	22.9	29	58.6	54.3	62.7
Total current assets	211	262	293	323	285	326	432	536	560	654
Property, plant and equipment	171	169	149	155	152	167	203	325	344	476
Lease right-of-use assets				0.38
Goodwill	1.33	23.1	23.6	23.6	23.6	23.6	23.6	23.6	23.6	30.1
Intangible assets	4.56	11.5	9.01	6.7	5.11	3.34	2.71	3.48	4.39	13
Long-term investments				45.6	47.5	51.2	57.8	60.6	63.3	57.4
Other non-current assets	7.31	2.65	2.85	2.91	2.79	4.16	4.55	5.79	5.5	6.72
Total assets	395	468	490	570	530	592	734	963	1,017	1,260
Accounts payable	39	55.2	65.5	61.9	42.3	68.1	90.2	82.8	98.8	127
Accrued liabilities	1.41	1.55
Deferred revenue			16.8	12.5	27.2	45.2	49.6	72.5	98	149
Short-term debt	2.65	3.26	21.6	16.1	1.76	10.7	0.5	7	1.09	0.43
Total current liabilities	78.4	121	123	129	94.1	155	210	236	266	352
Long-term debt	197	221	221	244	223	188	169	163	108	171
Total liabilities	281	346	357	382	322	347	384	415	385	547
Total debt	200	224	242	260	224	205	173	173	111	174
Paid-in capital	115	125	158	208	219	219	219	192	192	153
Retained earnings	26.5	22.2	10.4	16.2	29.9	91	234	400	539	671
Treasury stock										-79.2
Other comprehensive income	-29.2	-28.7	-37.1	-39.3	-43.5	-68.8	-106	-45.9	-101	-33.1
Shareholders' equity	114	120	132	187	208	244	349	548	631	713
Minority interests		1.42	0.87	0.61	0.56	0.84	1.51
Total equity	114	122	133	183	209	245	350	548	631	713
Total liabilities and equity	395	468	490	570	530	592	734	963	1,017	1,260
Shares outstanding	34.8	36.5	38.1	46.1	46.1	46.7	46.7	47	47	44.7

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	23.2	5.73	8.49	24.3	23.8	68.4	156	184	161	160
Depreciation and amortization	15.5	21	23.2	22.7	20.6	20.9	19.7	21.9	26.5	36.8
Stock-based compensation	0.3	0.28
Deferred income tax	-0.25	-6.14	3.29	2.7	6.58	4.4	5.48	-8.35	1.87	7.62
Change in receivables	-26	2.5	-23.7	-27.7	5.83	-38.5	-54.2	-0.78	-44.4	-25.3
Change in inventory	-4.31	-16.4	-28.1	8.42	-1.68	-16.7	-63.9	-0.52	-2.88	-45.1
Change in payables	-0.99	13.1	34.6	-1.61	-22.4	38	7.22	-17.4	14.7	8.12
Cash from operations	-3.09	14.2	-5.03	25.7	71.7	117	142	139	171	136
Capital expenditures	-22.9	-7.03	-13.1	-25	-18.3	-51.5	-71.3	-78	-79.6	-101
Acquisitions		-7.87	-6	-34.1						-6.84
Purchases of investments	-27	-0.6	-1.18	-1.68	-0.27	-0.06	-1.26	-0.34	-0.43	-0.68
Cash from investing	-24.7	-14.9	-18.7	-59.1	-18.1	-50.8	-72.6	-76	-77.3	-87.6
Debt issued	196	20.8	28.6	46.6	41.3	221	0.05	0.2	2.53	176
Debt repaid			-8.86	-29.5	-64.7	-250	-32		-64.5	-114
Stock issued	0.4
Share buybacks								-23.5	-0.29	-118
Dividends paid	-0.74	-2.47	-2.71	-5.23	-3.8	-5.24	-12.9	-16.4	-19.7	-28.1
Cash from financing	31.5	14.8	17	48.3	-33.5	-43.8	-44.8	-42.8	-84.5	-85.5
Net change in cash	4.25	14	-7.88	14.8	19.3	17.3	18.7	25.8	5.37	-34
Free cash flow	-26	7.18	-18.1	0.71	53.4	65.7	70.6	60.9	91	34.5
Interest paid	8.7	15.8	18.2	19.7	19.2	15.5	6.42	11.6	9.98	6.6
Income taxes paid	25.8	17.8	8.4	12.3	10.9	13.4	27.2	107	86.6	76.1

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $35.44 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	39.6%	Gross profit / revenue.
Operating margin	18.3%	Operating income / revenue.
EBITDA margin	22.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	18.6%	Pre-tax income / revenue.
Net margin	12.4%	Net income / revenue.
FCF margin	-0.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.8%	Cash from operations / revenue.
Effective tax rate	33.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	16.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.1%	Net income / average total assets.
Return on invested capital (ROIC)	13.6%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	8.7%	Capital expenditures / revenue.
D&A / revenue	4.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	11.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	21.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	24.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	1.6%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	0.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	28.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	5.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	2.8%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	25.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-1.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	0.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	46.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-0.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	1.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	46.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-1.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	13.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-62.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-21.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-8.4%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	13.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	26.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	27.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	24.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	19.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	18.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.7%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.86x	Current assets / current liabilities.
Quick ratio	0.95x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.21x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.29x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	16.0%	Total debt / total assets.
Liabilities / assets	44.8%	Total liabilities / total assets.
Net debt	$143.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.62x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	89.8x	Operating income / interest expense.
Working capital	$337.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	3.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$744.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.73x	Revenue / average total assets.
Fixed asset turnover	1.87x	Revenue / average property, plant and equipment.
Inventory turnover	2.34x	Cost of revenue / average inventory.
Days inventory	156 days	365 x average inventory / cost of revenue.
Receivables turnover	3.65x	Revenue / average receivables.
Days sales outstanding	100 days	365 x average receivables / revenue.
Days payables	103 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	153 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-6.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	110.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.92	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$23.67	Revenue / diluted weighted shares.
FCF per share	-$0.20	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.85	Cash from operations / diluted weighted shares.
Book value per share	$17.78	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$16.79	Tangible book value / shares outstanding.
Cash per share	$1.90	(Cash + short-term investments) / shares outstanding.
Payout ratio	21.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.57B	Share price x shares outstanding.
Enterprise value	$1.72B	Market cap + total debt - cash - short-term investments.
P/E	12.1x	Market cap / net income. Only when net income is positive.
P/S	1.50x	Market cap / revenue.
P/B	1.99x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.11x	Market cap / tangible book value, when positive.
P/OCF	19.1x	Market cap / cash from operations, when positive.
EV/Sales	1.63x	Enterprise value / revenue.
EV/EBIT	8.95x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.35x	Enterprise value / EBITDA, when both are positive.
FCF yield	-0.6%	Free cash flow / market cap.
Earnings yield	8.3%	Net income / market cap (the inverse of P/E).
Dividend yield	1.7%	Dividends paid over the period / market cap.
Shareholder yield	10.3%	(Dividends paid + share buybacks) / market cap.
PEG	8.05x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Tecnoglass Holdings Inc.'s revenue in fiscal 2025?

Tecnoglass Holdings Inc. reported revenue of $983.6M for fiscal 2025, 10.5% higher than the year before.

Was Tecnoglass Holdings Inc. profitable in fiscal 2025?

Yes. Net income was $159.6M, a net margin of 16.2%.

How much free cash flow did Tecnoglass Holdings Inc. generate in fiscal 2025?

Cash from operations of $135.8M minus capital expenditures of $101.3M left free cash flow of $34.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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