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Side-by-side financial comparison of Tecnoglass Inc. (TGLS) and Upstart Holdings, Inc. (UPST). Click either name above to swap in a different company.
Upstart Holdings, Inc. is the larger business by last-quarter revenue ($296.1M vs $245.3M, roughly 1.2× Tecnoglass Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs 6.3%, a 4.3% gap on every dollar of revenue. On growth, Upstart Holdings, Inc. posted the faster year-over-year revenue change (35.2% vs 2.4%). Upstart Holdings, Inc. produced more free cash flow last quarter ($108.4M vs $11.4M). Over the past eight quarters, Upstart Holdings, Inc.'s revenue compounded faster (52.2% CAGR vs 12.8%).
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.
Upstart is an AI lending platform that partners with banks and credit unions to provide consumer loans using non-traditional variables, such as education and employment, to predict creditworthiness.
TGLS vs UPST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $245.3M | $296.1M |
| Net Profit | $26.1M | $18.6M |
| Gross Margin | 40.0% | — |
| Operating Margin | 18.3% | 6.4% |
| Net Margin | 10.6% | 6.3% |
| Revenue YoY | 2.4% | 35.2% |
| Net Profit YoY | -44.5% | 776.4% |
| EPS (diluted) | $0.57 | $0.20 |
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 | $245.3M | $296.1M | ||
| Q3 25 | $260.5M | $277.1M | ||
| Q2 25 | $255.5M | $257.3M | ||
| Q1 25 | $222.3M | $213.4M | ||
| Q4 24 | $239.6M | $219.0M | ||
| Q3 24 | $238.3M | $162.1M | ||
| Q2 24 | $219.7M | $127.6M | ||
| Q1 24 | $192.6M | $127.8M |
| Q4 25 | $26.1M | $18.6M | ||
| Q3 25 | $47.2M | $31.8M | ||
| Q2 25 | $44.1M | $5.6M | ||
| Q1 25 | $42.2M | $-2.4M | ||
| Q4 24 | $47.0M | $-2.8M | ||
| Q3 24 | $49.5M | $-6.8M | ||
| Q2 24 | $35.0M | $-54.5M | ||
| Q1 24 | $29.7M | $-64.6M |
| Q4 25 | 40.0% | — | ||
| Q3 25 | 42.7% | — | ||
| Q2 25 | 44.7% | — | ||
| Q1 25 | 43.9% | — | ||
| Q4 24 | 44.5% | — | ||
| Q3 24 | 45.8% | — | ||
| Q2 24 | 40.8% | — | ||
| Q1 24 | 38.8% | — |
| Q4 25 | 18.3% | 6.4% | ||
| Q3 25 | 25.1% | 8.5% | ||
| Q2 25 | 24.0% | 1.8% | ||
| Q1 25 | 26.7% | -2.1% | ||
| Q4 24 | 28.0% | -2.2% | ||
| Q3 24 | 28.4% | -27.8% | ||
| Q2 24 | 23.3% | -43.5% | ||
| Q1 24 | 21.3% | -52.8% |
| Q4 25 | 10.6% | 6.3% | ||
| Q3 25 | 18.1% | 11.5% | ||
| Q2 25 | 17.3% | 2.2% | ||
| Q1 25 | 19.0% | -1.1% | ||
| Q4 24 | 19.6% | -1.3% | ||
| Q3 24 | 20.8% | -4.2% | ||
| Q2 24 | 15.9% | -42.7% | ||
| Q1 24 | 15.4% | -50.5% |
| Q4 25 | $0.57 | $0.20 | ||
| Q3 25 | $1.01 | $0.23 | ||
| Q2 25 | $0.94 | $0.05 | ||
| Q1 25 | $0.90 | $-0.03 | ||
| Q4 24 | $1.00 | $-0.01 | ||
| Q3 24 | $1.05 | $-0.07 | ||
| Q2 24 | $0.75 | $-0.62 | ||
| Q1 24 | $0.63 | $-0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $104.1M | $652.4M |
| Total DebtLower is stronger | $174.4M | — |
| Stockholders' EquityBook value | $713.1M | $798.8M |
| Total Assets | $1.3B | $3.0B |
| Debt / EquityLower = less leverage | 0.24× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $104.1M | $652.4M | ||
| Q3 25 | $127.1M | $489.8M | ||
| Q2 25 | $140.9M | $395.9M | ||
| Q1 25 | $160.2M | $599.8M | ||
| Q4 24 | $137.5M | $788.4M | ||
| Q3 24 | $124.8M | — | ||
| Q2 24 | $129.5M | — | ||
| Q1 24 | $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 | $713.1M | $798.8M | ||
| Q3 25 | $764.0M | $743.7M | ||
| Q2 25 | $736.0M | $722.0M | ||
| Q1 25 | $685.1M | $676.6M | ||
| Q4 24 | $631.2M | $633.2M | ||
| Q3 24 | $613.3M | $595.5M | ||
| Q2 24 | $574.8M | $594.7M | ||
| Q1 24 | $573.6M | $612.8M |
| Q4 25 | $1.3B | $3.0B | ||
| Q3 25 | $1.2B | $2.9B | ||
| Q2 25 | $1.2B | $2.5B | ||
| Q1 25 | $1.1B | $2.3B | ||
| Q4 24 | $1.0B | $2.4B | ||
| Q3 24 | $996.3M | $1.8B | ||
| Q2 24 | $942.5M | $1.8B | ||
| Q1 24 | $981.6M | $1.9B |
| 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 | $31.0M | $108.6M |
| Free Cash FlowOCF − Capex | $11.4M | $108.4M |
| FCF MarginFCF / Revenue | 4.7% | 36.6% |
| Capex IntensityCapex / Revenue | 8.0% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.19× | 5.82× |
| TTM Free Cash FlowTrailing 4 quarters | $34.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.0M | $108.6M | ||
| Q3 25 | $40.0M | $-122.6M | ||
| Q2 25 | $17.9M | $-120.2M | ||
| Q1 25 | $46.9M | $-13.5M | ||
| Q4 24 | $61.1M | $-110.9M | ||
| Q3 24 | $41.5M | $179.3M | ||
| Q2 24 | $34.5M | $65.3M | ||
| Q1 24 | $33.4M | $52.6M |
| Q4 25 | $11.4M | $108.4M | ||
| Q3 25 | $21.2M | $-122.7M | ||
| Q2 25 | $-14.7M | $-120.3M | ||
| Q1 25 | $16.5M | — | ||
| Q4 24 | $35.4M | — | ||
| Q3 24 | $17.8M | $179.2M | ||
| Q2 24 | $14.2M | $65.3M | ||
| Q1 24 | $23.6M | $51.9M |
| Q4 25 | 4.7% | 36.6% | ||
| Q3 25 | 8.2% | -44.3% | ||
| Q2 25 | -5.7% | -46.7% | ||
| Q1 25 | 7.4% | — | ||
| Q4 24 | 14.8% | — | ||
| Q3 24 | 7.5% | 110.5% | ||
| Q2 24 | 6.5% | 51.1% | ||
| Q1 24 | 12.2% | 40.6% |
| Q4 25 | 8.0% | 0.1% | ||
| Q3 25 | 7.2% | 0.0% | ||
| Q2 25 | 12.7% | 0.0% | ||
| Q1 25 | 13.7% | 0.0% | ||
| Q4 24 | 10.7% | 0.0% | ||
| Q3 24 | 9.9% | 0.1% | ||
| Q2 24 | 9.2% | 0.0% | ||
| Q1 24 | 5.1% | 0.5% |
| Q4 25 | 1.19× | 5.82× | ||
| Q3 25 | 0.85× | -3.86× | ||
| Q2 25 | 0.41× | -21.43× | ||
| Q1 25 | 1.11× | — | ||
| Q4 24 | 1.30× | — | ||
| Q3 24 | 0.84× | — | ||
| Q2 24 | 0.98× | — | ||
| Q1 24 | 1.13× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
UPST
| Personal Lending Segment | $201.4M | 68% |
| Servicing Fees Net | $39.5M | 13% |
| Servicing Fees | $27.5M | 9% |
| Other | $15.7M | 5% |
| Borrower Fees | $8.4M | 3% |
| Collection Agency Fees | $3.5M | 1% |
