Capitalcube gives Tecnoglass, Inc. a score of 56.
Our analysis is based on comparing Tecnoglass, Inc. with the following peers – Ply Gem Holdings, Inc., PGT Innovations, Inc., Masonite International Corp., PPG Industries, Inc. and Huttig Building Products, Inc. (PGEM-US, PGTI-US, DOOR-US, PPG-US and HBP-US).
Tecnoglass, Inc. has a fundamental score of 56 and has a relative valuation of UNDERVALUED.
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- From a peer analysis angle, relative underperformance over the last year has improved more recently.
- It trades at a lower Price/Book multiple (2.24) than its peer median (3.45).
- The market expects TGLS-US to grow faster than its peers and for the company to improve its current ROE.
- TGLS-US‘s relatively low net margins and poor asset turns suggest a problematic operating strategy.
- The company’s year-on-year change in revenues and earnings are better than the median among its peer group.
- TGLS-US‘s return on assets currently and over the past five years has trailed the peer median and suggests the company might be operationally challenged relative to its peers.
- The company’s relatively high gross and pre-tax margins suggest a differentiated product portfolio and tight control on operating costs relative to peers.
- Compared with the peers chosen, TGLS-US has had faster revenue growth in prior years and a current P/E ratio that suggests faster growth in the future suggesting superior growth expectations.
- The company’s capital investment program and to-date returns suggest that the company is likely making big bets on the future.
- TGLS-US seems to be constrained by the current level of debt.
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Leverage & Liquidity
TGLS-US is debt-constrained.
- With debt at a relatively high 45.97% of its enterprise value compared to an overall benchmark of 25% (Note: The peer median is currently 33.28%), and interest coverage level of 2.33x, TGLS-US seems debt-constrained.
- All 5 peers for the company have an outstanding debt balance.
TGLS-US has maintained its relatively high leverage profile from the recent year-end.
- TGLS-US‘s interest coverage is its lowest relative to the last five years and compares to a high of 999x in 2012.
- Compared to 2016, interest coverage has remained relatively stable for both the company (2.33x) and the peer median (4.00x).
- TGLS-US‘s debt-EV is its highest relative to the last five years and compares to a low of 28.09% in 2013.
- The increase in its debt-EV to 45.97% from 34.56% (in 2016) was also accompanied by an increase in its peer median during this period to 33.28% from 28.41%.
- Relative to peers, debt-EV rose 6.53 percentage points.
Access the detailed analysis for Tecnoglass, Inc.
Key Liquidity Items
|Company||Debt/Enterprise Value (%)||Current Ratio||Interest Coverage (x)||Cash Flow To Total Debt (%)|
|Ply Gem Holdings, Inc.||40.89||1.79||2.51||19.57|
|PGT Innovations, Inc.||29.91||4.49||2.92||21|
|Masonite International Corp.||19.96||2.64||5.29||44.13|
|PPG Industries, Inc.||14.75||1.61||15.62||48.68|
|Huttig Building Products, Inc.||36.66||2.53||5.08||13.92|
|Best In Class||14.75||4.49||15.62||48.68|
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Tecnoglass, Inc. operates as a holding company, which engages in the design, manufacture, and trade of architectural glass. Its products include the following types of glass: laminated, thermo-laminated, tempered, silk-screened, curved, and digital print. It also distributes floating facades, bathroom dividers, automatic doors, and hurricane-proof and commercial display windows. The company operates under the Alutions by TG and Alutions trademarks. Tecnoglass was founded on September 21, 2011 and is headquartered in Barranquilla, Colombia.
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