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Building materials · Basic Materials · Fiscal year ends Dec 31
Tecnoglass reported revenue of $984M in the fiscal year ended Dec 2025, up 10.5% from the year before. Operating income was $231M, an operating margin of 23.5%, and net income was $160M. Operating cash flow of $136M less capital expenditure of $101M left free cash flow of $34M. Net debt was $71M.
Ranks among the 15 building materials companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 497 | 717 | 833 | 890 | 984 |
| Cost of revenue | 294 | 367 | 442 | 510 | 562 |
| Gross profit | 203 | 349 | 391 | 380 | 421 |
| Selling, general & admin | 85.6 | 123 | 131 | 153 | 196 |
| Operating income | 117 | 226 | 260 | 227 | 231 |
| Interest expense | 8.5 | 6.8 | 7.9 | 6.2 | 6.0 |
| Pre-tax income | 96.9 | 231 | 261 | 225 | 235 |
| Income tax | 28.5 | 74.8 | 77.9 | 63.8 | 75.7 |
| Net income | 68.2 | 156 | 183 | 161 | 160 |
| Diluted EPS | 1.43 | 3.27 | 3.85 | 3.43 | 3.42 |
| Diluted shares | 47.7 | 47.7 | 47.5 | 47.0 | 46.7 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 85.0 | 104 | 130 | 135 | 101 |
| Receivables | 111 | 158 | 166 | 203 | 239 |
| Inventory | 85.0 | 125 | 159 | 140 | 214 |
| Current assets | 326 | 432 | 536 | 560 | 654 |
| Net PP&E | 167 | 203 | 325 | 344 | 476 |
| Goodwill | 23.6 | 23.6 | 23.6 | 23.6 | 30.1 |
| Total assets | 592 | 734 | 963 | 1,017 | 1,260 |
| Payables | 68.1 | 90.2 | 82.8 | 98.8 | 127 |
| Deferred revenue | 45.2 | 49.6 | 72.5 | 98.0 | 149 |
| Current liabilities | 155 | 210 | 236 | 266 | 352 |
| Short-term debt | 10.7 | 0.5 | 7.0 | 1.1 | 0.4 |
| Long-term debt | 188 | 169 | 163 | 108 | 171 |
| Total liabilities | 347 | 384 | 415 | 385 | 547 |
| Shareholders' equity | 244 | 349 | 548 | 631 | 713 |
| Backlog (remaining obligations) | 248 | 482 | 374 | 656 | 912 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 117 | 142 | 139 | 171 | 136 |
| Capital expenditure | 51.5 | 71.3 | 78.0 | 79.6 | 101 |
| Free cash flow | 65.7 | 70.6 | 60.9 | 91.0 | 34.5 |
| Depreciation & amortisation | 20.9 | 19.7 | 21.9 | 26.5 | 36.8 |
| Acquisitions | – | – | – | – | 6.8 |
| Dividends paid | 5.2 | 12.9 | 16.4 | 19.7 | 28.1 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 44.2% | 16.3% | 6.8% | 10.5% |
| Operating income growth (YoY) | – | 93.5% | 14.7% | −12.6% | 1.6% |
| EPS growth (YoY) | – | 128.7% | 17.7% | −10.9% | −0.3% |
| Gross margin | 40.8% | 48.8% | 46.9% | 42.7% | 42.8% |
| Operating margin | 23.5% | 31.6% | 31.2% | 25.5% | 23.5% |
| Net margin | 13.7% | 21.7% | 21.9% | 18.1% | 16.2% |
| Return on equityBlank when equity is negative | 27.9% | 44.6% | 33.4% | 25.6% | 22.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 26.8% | 43.2% | 35.7% | 30.2% | 25.4% |
| Free cash flow margin | 13.2% | 9.9% | 7.3% | 10.2% | 3.5% |
| Cash conversion (CFO ÷ net income) | 1.72x | 0.91x | 0.76x | 1.06x | 0.85x |
| Receivable days | 81 | 81 | 73 | 83 | 89 |
| Inventory days | 105 | 124 | 131 | 100 | 139 |
| Payable days | 84 | 90 | 68 | 71 | 83 |
| Interest cover | 13.8x | 33.4x | 32.7x | 36.5x | 38.7x |
| Debt ÷ equity | 0.82x | 0.49x | 0.31x | 0.17x | 0.24x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 114 | 65.8 | 40.5 | −25.6 | 70.7 |
| Current ratio | 2.10x | 2.06x | 2.27x | 2.11x | 1.86x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.