Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Tecnoglass Holdings Inc.TGLS · manufacturing | |
|---|---|
| Grade |  A/Bon the A/B boundary of 255 graded peers; percentile 19.7, sampling error 3.0 points; lower is stronger |
| Rank | 51 of 255 |
| Profitability | Cpercentile 45.1 |
| Solvency | Bpercentile 35.4 |
| Growth and financing | Bpercentile 32.6 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $1.3B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active |
| Inputs computable | 14 of 14 |
| Graded from | filings received through Mar 2, 2026221 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $37.792026-10-08; market equity $1.7B; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 2, 2026; the document on sec.gov.
is a leading vertically integrated manufacturer, supplier and installer of high-end aluminum and vinyl windows and architectural glass for the global commercial and residential construction markets. Tecnoglass earned the #1 spot on Forbe’s list of America’s 100 most successful small-cap companies for 2024, and was ranked among the four largest glass fabricators in 2025 by Glass Magazine.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 45.1 | |||||||
| Gross profitability | 33.4% | [1,3] | 21.9% | 16.4 | 275 | 2025-12-31 | |
| Return on invested capital | 22.5% | [4-12] | 9.7% | 12.1 | 100 | 2025-12-31 | |
| Accruals ratio | 2.1% | [1,13-15] | (3.6%) | 86.3 | 308 | 2025-12-31 | |
| Gross margin stability, five years | 3.0 pts | [2-3,16-23] | 2.1 pts | 65.4 | 229 | 2025-12-31 | |
| Solvency, sleeve percentile 35.4 | |||||||
| Twelve-month failure probability | 0.06% | 0.04% | 60.6 | 34 | 2026-06-30 | ||
| Altman Z double-prime | 5.90 | [1,4,8,24-27] | 3.66 | 21.8 | 244 | 2025-12-31 | |
| Net debt to EBITDA | 0.28x | [4,7,9,28] | 1.78x | 22.5 | 121 | 2025-12-31 | |
| Interest coverage | 38.68x | [4,29] | 5.09x | 11.1 | 64 | 2025-12-31 | |
| Current ratio | 1.86x | [24-25] | 2.25x | 60.8 | 325 | 2025-12-31 | |
| Growth and financing, sleeve percentile 32.6 | |||||||
| Revenue growth, three-year compound | 11.1% | [2,17,19,21] | 2.1% | 18.3 | 269 | 2025-12-31 | |
| Free cash flow growth, three-year compound | (21.2%) | [14,30-36] | 13.9% | 92.0 | 139 | 2025-12-31 | |
| Reinvestment rate | 49.9% | [4-6,24-25,28,30,37-38] | 26.4% | 34.8 | 139 | 2025-12-31 | |
| Asset growth, three years | 19.7% | [1,15,39-40] | 4.4% | 11.5 | 279 | 2025-12-31 | |
| Net share issuance, one year | (4.8%) | [41-42] | 0.01% | 6.6 | 243 | 2026-02-20 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite -0.264; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 46 | Moog Inc. (MOG-B) Moog Inc. (MOG-B) A/Bon the A/B boundary; percentile 17.5 NYSE · Misc Industrial & Commercial Machinery & Equipment last close $420.07 No active warnings; 7 of 14 inputs | 17.5 | A/B | |
| 47 | Douglas Dynamics, Inc. (PLOW) Douglas Dynamics, Inc. (PLOW) A/Bon the A/B boundary; percentile 18.1 NYSE · Construction Machinery & Equip market equity $909.0M; last close $39.45 No active warnings; 9 of 14 inputs | 18.1 | A/B | |
| 48 | Mueller Water Products, Inc. (MWA) Mueller Water Products, Inc. (MWA) A/Bon the A/B boundary; percentile 18.5 NYSE · Miscellaneous Fabricated Metal Products market equity $3.4B; last close $21.57 No active warnings; 10 of 14 inputs | 18.5 | A/B | |
| 49 | Power Solutions International, Inc. (PSIX) Power Solutions International, Inc. (PSIX) A/Bon the A/B boundary; percentile 18.9 Nasdaq · Engines & Turbines market equity $1.1B; last close $48.59 No active warnings; 8 of 14 inputs | 18.9 | A/B | |
| 50 | Carpenter Technology Corp. (CRS) Carpenter Technology Corp. (CRS) A/Bon the A/B boundary; percentile 19.3 NYSE · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) market equity $19.2B; last close $387.03 No active warnings; 9 of 14 inputs | 19.3 | A/B | |
| 51 | Tecnoglass Holdings Inc. (TGLS) Tecnoglass Holdings Inc. (TGLS) A/Bon the A/B boundary; percentile 19.7 NYSE · Flat Glass market equity $1.7B; last close $37.79 No active warnings; 14 of 14 inputs | 19.7 | A/B | |
| 52 | Toro Co. (TTC) Toro Co. (TTC) A/Bon the A/B boundary; percentile 20.1 NYSE · Lawn & Garden Tractors & Home Lawn & Gardens Equip market equity $9.2B; last close $96.78 No active warnings; 9 of 14 inputs | 20.1 | A/B | |
| 53 | Miller Industries Inc. (MLR) Miller Industries Inc. (MLR) A/Bon the A/B boundary; percentile 20.5 NYSE · Truck & Bus Bodies market equity $599.4M; last close $52.70 No active warnings; 7 of 14 inputs | 20.5 | A/B | |
| 54 | Taylor Devices, Inc. (TAYD) Taylor Devices, Inc. (TAYD) A/Bon the A/B boundary; percentile 20.9 Nasdaq · General Industrial Machinery & Equipment, NEC market equity $189.1M; last close $58.68 No active warnings; 8 of 14 inputs | 20.9 | A/B | |
| 55 | Idex Corp. (IEX) Idex Corp. (IEX) A/Bon the A/B boundary; percentile 21.3 NYSE · Pumps & Pumping Equipment market equity $17.1B; last close $231.50 No active warnings; 12 of 14 inputs | 21.3 | A/B | |
| 56 | Curtiss Wright Corp. (CW) Curtiss Wright Corp. (CW) A/Bon the A/B boundary; percentile 21.7 NYSE · Misc Industrial & Commercial Machinery & Equipment market equity $18.7B; last close $507.90 No active warnings; 10 of 14 inputs | 21.7 | A/B |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | A | 18.9 | 2204 |
| sector peers, equal sleeves (the grade) | A/B | 19.7 | 255 |
| same exchange, equal sleeves | A | 17.4 | 984 |
| sector peers, equal inputs | A | 16.5 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (40.1%) | 13.7% | 8 | hotter than 8 of 100 peers |
| Distance from 52-week high | (41.5%) | (24.3%) | 22 | closer to its high than 22 of 100 peers |
| EBIT to enterprise value | 12.6% | 4.1% | 95 | pricier than 5 of 100 peers |
| Free cash flow yield | 2.1% | 3.4% | 35 | pricier than 65 of 100 peers |
| Book value to price | 0.47 | 0.34 | 61 | pricier than 39 of 100 peers |
| Sales to price | 0.59 | 0.54 | 53 | pricier than 47 of 100 peers |
| Composite equity issuance, five years | (12.4%) | (9.5%) | 39 | more equity-funded than 39 of 100 peers |
| Relative strength against the sector, log excess return | (0.65) | (0.00) | 8 | ahead of 8 of 100 peers |
Inputs: market equity $1.7B; EBIT $230.7M; free cash flow $34.5M; book equity $788.8M; sales $983.6M; debt $228.2M; cash $80.8M[43].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 5 of 9, period end 2025-12-31 | ||
|---|---|---|
| Return on assets above zero | 15.7% | ✓ pass[13,15] |
| Operating cash flow above zero | $135.8M | ✓ pass[14] |
| Return on assets improved | (1.1 pts) | ✗ fail[13,15,39,44] |
| Operating cash flow exceeds net income | -$23.8M | ✗ fail[13-14] |
| Long-term leverage fell | 4.1 pts | ✗ fail[1,15,39,45-46] |
| Current ratio improved | (24.9 pts) | ✗ fail[24-25,37-38] |
| No new shares issued | (4.8%) | ✓ pass[41-42] |
| Gross margin improved | 0.2 pts | ✓ pass[2-3,16-17] |
| Asset turnover improved | 4.3 pts | ✓ pass[2,15,17,39] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $80.8M[47] |
| Operating cash flow, four quarters | $82.1M[14,47-51] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 64 |
| 10-Q received Aug 6, 2026 | |
| Median daily dollar volume | $10.2M |
| 63 sessions | |
| Days since newest grade input | 221 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $1.3B | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $983.6M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 3 | gross profit | us-gaap:GrossProfit | $421.4M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 4 | operating income | us-gaap:OperatingIncomeLoss | $230.7M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 5 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $235.3M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 6 | income tax | us-gaap:IncomeTaxExpenseBenefit | $75.7M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 7 | total debt | us-gaap:LongTermDebt | $174.4M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 8 | book equity | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | $713.1M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 9 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $100.9M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 10 | total debt | us-gaap:LongTermDebt | $111.1M | 2024-12-31 | 2025-02-28 | 10-K | filing · viewer · series |
| 11 | book equity | us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest | $631.2M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 12 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $134.9M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 13 | net income | us-gaap:NetIncomeLoss | $159.6M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 14 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $135.8M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 15 | assets | us-gaap:Assets | $1.0B | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 16 | gross profit | us-gaap:GrossProfit | $380.0M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 17 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $890.2M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 18 | gross profit | us-gaap:GrossProfit | $390.9M | 2023-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 19 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $833.3M | 2023-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 20 | gross profit | us-gaap:GrossProfit | $349.5M | 2022-12-31 | 2025-02-28 | 10-K | filing · viewer · series |
| 21 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $716.6M | 2022-12-31 | 2025-02-28 | 10-K | filing · viewer · series |
| 22 | gross profit | us-gaap:GrossProfit | $202.6M | 2021-12-31 | 2024-02-29 | 10-K | filing · viewer · series |
| 23 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $496.8M | 2021-12-31 | 2024-02-29 | 10-K | filing · viewer · series |
| 24 | current assets | us-gaap:AssetsCurrent | $653.6M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 25 | current liabilities | us-gaap:LiabilitiesCurrent | $351.7M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 26 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $670.6M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 27 | liabilities | us-gaap:Liabilities | $547.3M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 28 | depreciation amortization | us-gaap:Depreciation | $30.7M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 29 | interest expense | us-gaap:InterestExpense | $6.0M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 30 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $101.3M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $170.5M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 32 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $79.6M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $138.8M | 2023-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 34 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $78.0M | 2023-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 35 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $141.9M | 2022-12-31 | 2025-02-28 | 10-K | filing · viewer · series |
| 36 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $71.3M | 2022-12-31 | 2025-02-28 | 10-K | filing · viewer · series |
| 37 | current assets | us-gaap:AssetsCurrent | $560.0M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 38 | current liabilities | us-gaap:LiabilitiesCurrent | $265.8M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 39 | assets | us-gaap:Assets | $962.7M | 2023-12-31 | 2025-02-28 | 10-K | filing · viewer · series |
| 40 | assets | us-gaap:Assets | $734.3M | 2022-12-31 | 2024-02-29 | 10-K | filing · viewer · series |
| 41 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 44,737,726 | 2026-02-20 | 2026-03-02 | 10-K | filing · viewer · series |
| 42 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 46,991,558 | 2025-02-25 | 2025-02-28 | 10-K | filing · viewer · series |
| 43 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 44,364,616 | 2026-08-03 | 2026-08-06 | 10-Q | filing · viewer · series |
| 44 | net income | us-gaap:NetIncomeLoss | $161.3M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 45 | long term debt | us-gaap:LongTermDebtNoncurrent | $171.2M | 2025-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 46 | long term debt | us-gaap:LongTermDebtNoncurrent | $108.2M | 2024-12-31 | 2026-03-02 | 10-K | filing · viewer · series |
| 47 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $80.8M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 48 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $11.1M | 2026-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 49 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $6.7M | 2026-03-31 | 2026-05-08 | 10-Q | filing · viewer · series |
| 50 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $104.7M | 2025-09-30 | 2025-11-07 | 10-Q | filing · viewer · series |
| 51 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $64.8M | 2025-06-30 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 19.7 is 0.3 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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