Tecnoglass Holdings Inc.
TGLS Basic Materials Building Materials
In the quarter to June 2026, revenue grew 15.6%, EPS fell 41.5%, free cash flow fell 111.6% and total debt rose 106.3%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for five; insiders bought in the last twelve months.
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Tecnoglass Holdings Inc. (TGLS) Altman Z-score
Tecnoglass Holdings Inc.'s Altman Z-score for fiscal 2025 is 4.99, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.99 | (3.51) |
| FY2024 | 8.50 | 2.65 |
| FY2023 | 5.85 | 0.76 |
| FY2022 | 5.10 | 0.88 |
| FY2021 | 4.22 | 1.99 |
| FY2020 | 2.23 | 0.11 |
| FY2019 | 2.12 | 0.07 |
| FY2018 | 2.05 | 0.24 |
| FY2017 | 1.81 | (0.67) |
| FY2016 | 2.48 | 0.31 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.24 | — | 0.29 | |
| Retained earnings / total assets | 0.53 | — | 0.74 | |
| EBIT / total assets | 0.18 | — | 0.60 | |
| Market value of equity / total liabilities | 4.29 | — | 2.57 | |
| Sales / total assets | 0.78 | — | 0.78 | |
| Altman Z-score | Safe zone | 4.99 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.90 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| USLM United States Lime & Minerals, Inc. compare | 44.3× |
| TGLS Tecnoglass Holdings Inc. | 5.0× |
| TTAM Titan America SA compare | 4.3× |
| EXP Eagle Materials Inc compare | 3.4× |
| KNF Knife River Corporation compare | 2.9× |
| CPAC Cementos Pacasmayo S.A.A. compare | 2.2× |
| LOMA Loma Negra Compania Industrial Argentina S.A. Sponsored ADR compare | 2.1× |
| CX Cemex S.A.B. de C.V. compare | 1.6× |
| RMIX Suncrete, Inc. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets