Tecnoglass Inc. — Earnings Quality Grade F
TGLS · Basic Materials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 89 days, change +6 days YoY
AR outpaced revenue for 2 consecutive years
Revenue grew 10.5% but CFFO declined -20.4%
Expense Quality
Inventory growth 52.9% exceeds COGS 10.2%
CapEx growth 27.3% is >2x revenue growth 10.5%
SG&A/Gross Profit = 37.2%. Normal
Gross margin 42.8%, change +0.2pp. Stable
Cash Flow Quality
CFFO/NI = 0.85. Profits backed by cash
FCF < 50% of Net Income for 2 years
Accruals ratio = 1.9%. Low accruals
Cash $0.1B covers 61% of debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.0B = 6% of equity. Manageable
Debt/EBITDA = 0.6x. Healthy
Insufficient data
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles surged 54% YoY
Manipulation Score
M-Score = -2.31 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25