Tecnoglass Inc. (TGLS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-34.8%

$26.41

vs $40.49 price

Levered DCF

$21.45

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.85

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.71×	23.13×	11.87×	9.41×	18.31×	13.55×	15×	33.63×
P/B	3.29×	5.91×	3.96×	4.21×	5.12×	1.54×	1.97×	2.29×
P/S	2.39×	4.19×	2.61×	2.05×	2.51×	0.85×	0.85×	0.82×
EV / EBITDA	8.89×	14.29×	7.56×	5.92×	10.67×	6.03×	7×	8.71×
Gross margin	42.8%	42.7%	46.9%	48.8%	40.8%	37.0%	31.5%	32.4%
Operating margin	23.5%	25.5%	31.2%	31.6%	23.5%	17.4%	13.6%	12.7%
Net margin	16.2%	18.1%	21.9%	21.7%	13.7%	6.3%	5.7%	2.4%
Current ratio	1.86×	2.11×	2.27×	2.06×	2.1×	3.03×	2.5×	2.39×
Debt / equity	0.24×	0.17×	0.31×	0.49×	0.82×	1.08×	1.39×	1.83×
Interest coverage	66.98×	30.54×	28.3×	27.76×	11.88×	2.86×	2.45×	2.23×
Dividend yield	1.2%	0.5%	0.8%	0.9%	0.4%	1.2%	1.4%	0.9%
Payout ratio	17.6%	12.2%	9.0%	8.3%	7.7%	15.9%	21.3%	30.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	22.4%	25.6%	33.4%	44.6%	27.9%	11.5%	13.1%	6.8%
Return on invested capital	17.2%	21.6%	24.8%	29.2%	18.5%	9.7%	8.4%	7.1%
Return on assets	12.7%	15.9%	19.0%	21.2%	11.5%	4.5%	4.3%	1.8%
Free cash flow yield	1.5%	2.4%	2.8%	4.8%	5.3%	16.6%	0.2%	-6.0%
Earnings yield	6.8%	4.3%	8.4%	10.6%	5.5%	7.4%	6.7%	3.0%
Enterprise value	$2.4B	$3.7B	$2.2B	$1.5B	$1.4B	$477.4M	$578.8M	$512M
Net debt / EBITDA	0.26×	-0.1×	0.14×	0.25×	0.89×	1.98×	2.56×	3.56×
Cash conversion cycle (days)	159	124	147	123	118	179	164	183