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Side-by-side financial comparison of IMAX CORP (IMAX) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $125.2M, roughly 2.0× IMAX CORP). Tecnoglass Inc. runs the higher net margin — 10.6% vs 0.5%, a 10.1% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 2.4%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $11.4M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% CAGR vs 12.8%).
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
IMAX vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $125.2M | $245.3M |
| Net Profit | $637.0K | $26.1M |
| Gross Margin | 57.6% | 40.0% |
| Operating Margin | 19.3% | 18.3% |
| Net Margin | 0.5% | 10.6% |
| Revenue YoY | 35.1% | 2.4% |
| Net Profit YoY | -88.0% | -44.5% |
| EPS (diluted) | $0.02 | $0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $125.2M | $245.3M | ||
| Q3 25 | $106.7M | $260.5M | ||
| Q2 25 | $91.7M | $255.5M | ||
| Q1 25 | $86.7M | $222.3M | ||
| Q4 24 | $92.7M | $239.6M | ||
| Q3 24 | $91.5M | $238.3M | ||
| Q2 24 | $89.0M | $219.7M | ||
| Q1 24 | $79.1M | $192.6M |
| Q4 25 | $637.0K | $26.1M | ||
| Q3 25 | $20.7M | $47.2M | ||
| Q2 25 | $11.3M | $44.1M | ||
| Q1 25 | $2.3M | $42.2M | ||
| Q4 24 | $5.3M | $47.0M | ||
| Q3 24 | $13.9M | $49.5M | ||
| Q2 24 | $3.6M | $35.0M | ||
| Q1 24 | $3.3M | $29.7M |
| Q4 25 | 57.6% | 40.0% | ||
| Q3 25 | 63.1% | 42.7% | ||
| Q2 25 | 58.5% | 44.7% | ||
| Q1 25 | 61.4% | 43.9% | ||
| Q4 24 | 52.2% | 44.5% | ||
| Q3 24 | 55.8% | 45.8% | ||
| Q2 24 | 49.4% | 40.8% | ||
| Q1 24 | 59.3% | 38.8% |
| Q4 25 | 19.3% | 18.3% | ||
| Q3 25 | 27.2% | 25.1% | ||
| Q2 25 | 15.6% | 24.0% | ||
| Q1 25 | 19.3% | 26.7% | ||
| Q4 24 | 10.3% | 28.0% | ||
| Q3 24 | 21.2% | 28.4% | ||
| Q2 24 | 3.2% | 23.3% | ||
| Q1 24 | 15.3% | 21.3% |
| Q4 25 | 0.5% | 10.6% | ||
| Q3 25 | 19.4% | 18.1% | ||
| Q2 25 | 12.3% | 17.3% | ||
| Q1 25 | 2.7% | 19.0% | ||
| Q4 24 | 5.7% | 19.6% | ||
| Q3 24 | 15.2% | 20.8% | ||
| Q2 24 | 4.0% | 15.9% | ||
| Q1 24 | 4.1% | 15.4% |
| Q4 25 | $0.02 | $0.57 | ||
| Q3 25 | $0.37 | $1.01 | ||
| Q2 25 | $0.20 | $0.94 | ||
| Q1 25 | $0.04 | $0.90 | ||
| Q4 24 | $0.09 | $1.00 | ||
| Q3 24 | $0.26 | $1.05 | ||
| Q2 24 | $0.07 | $0.75 | ||
| Q1 24 | $0.06 | $0.63 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $151.2M | $104.1M |
| Total DebtLower is stronger | — | $174.4M |
| Stockholders' EquityBook value | $337.9M | $713.1M |
| Total Assets | $894.0M | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $151.2M | $104.1M | ||
| Q3 25 | $143.1M | $127.1M | ||
| Q2 25 | $109.3M | $140.9M | ||
| Q1 25 | $97.1M | $160.2M | ||
| Q4 24 | $100.6M | $137.5M | ||
| Q3 24 | $104.5M | $124.8M | ||
| Q2 24 | $91.6M | $129.5M | ||
| Q1 24 | $81.0M | $138.8M |
| Q4 25 | — | $174.4M | ||
| Q3 25 | — | $114.7M | ||
| Q2 25 | — | $110.6M | ||
| Q1 25 | — | $110.6M | ||
| Q4 24 | — | $111.1M | ||
| Q3 24 | — | $126.8M | ||
| Q2 24 | — | $144.7M | ||
| Q1 24 | — | $160.9M |
| Q4 25 | $337.9M | $713.1M | ||
| Q3 25 | $349.5M | $764.0M | ||
| Q2 25 | $320.4M | $736.0M | ||
| Q1 25 | $299.5M | $685.1M | ||
| Q4 24 | $299.5M | $631.2M | ||
| Q3 24 | $289.4M | $613.3M | ||
| Q2 24 | $267.2M | $574.8M | ||
| Q1 24 | $258.8M | $573.6M |
| Q4 25 | $894.0M | $1.3B | ||
| Q3 25 | $889.6M | $1.2B | ||
| Q2 25 | $868.6M | $1.2B | ||
| Q1 25 | $848.3M | $1.1B | ||
| Q4 24 | $830.4M | $1.0B | ||
| Q3 24 | $847.6M | $996.3M | ||
| Q2 24 | $827.4M | $942.5M | ||
| Q1 24 | $824.1M | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $29.4M | $31.0M |
| Free Cash FlowOCF − Capex | $28.0M | $11.4M |
| FCF MarginFCF / Revenue | 22.3% | 4.7% |
| Capex IntensityCapex / Revenue | 1.1% | 8.0% |
| Cash ConversionOCF / Net Profit | 46.11× | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $118.9M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.4M | $31.0M | ||
| Q3 25 | $67.5M | $40.0M | ||
| Q2 25 | $23.2M | $17.9M | ||
| Q1 25 | $7.0M | $46.9M | ||
| Q4 24 | $11.5M | $61.1M | ||
| Q3 24 | $35.3M | $41.5M | ||
| Q2 24 | $35.0M | $34.5M | ||
| Q1 24 | $-11.0M | $33.4M |
| Q4 25 | $28.0M | $11.4M | ||
| Q3 25 | $64.8M | $21.2M | ||
| Q2 25 | $20.9M | $-14.7M | ||
| Q1 25 | $5.3M | $16.5M | ||
| Q4 24 | $6.9M | $35.4M | ||
| Q3 24 | $34.2M | $17.8M | ||
| Q2 24 | $33.5M | $14.2M | ||
| Q1 24 | $-12.1M | $23.6M |
| Q4 25 | 22.3% | 4.7% | ||
| Q3 25 | 60.7% | 8.2% | ||
| Q2 25 | 22.8% | -5.7% | ||
| Q1 25 | 6.1% | 7.4% | ||
| Q4 24 | 7.4% | 14.8% | ||
| Q3 24 | 37.3% | 7.5% | ||
| Q2 24 | 37.6% | 6.5% | ||
| Q1 24 | -15.3% | 12.2% |
| Q4 25 | 1.1% | 8.0% | ||
| Q3 25 | 2.6% | 7.2% | ||
| Q2 25 | 2.6% | 12.7% | ||
| Q1 25 | 1.9% | 13.7% | ||
| Q4 24 | 5.0% | 10.7% | ||
| Q3 24 | 1.2% | 9.9% | ||
| Q2 24 | 1.8% | 9.2% | ||
| Q1 24 | 1.4% | 5.1% |
| Q4 25 | 46.11× | 1.19× | ||
| Q3 25 | 3.27× | 0.85× | ||
| Q2 25 | 2.06× | 0.41× | ||
| Q1 25 | 2.99× | 1.11× | ||
| Q4 24 | 2.16× | 1.30× | ||
| Q3 24 | 2.54× | 0.84× | ||
| Q2 24 | 9.78× | 0.98× | ||
| Q1 24 | -3.35× | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
