Overall Score

Revenue Model

TG trades at a very low valuation relative to sales, with EV/Sales TTM at 0.35 and Price/Sales TTM at 0.36.

The business is generating positive operating cash flow and free cash flow, with FCF yield at 8.1% and operating cash flow yield at 15.9%.

Profitability

Margins are modest but positive, with gross margin at 14.4%, operating margin at 4.3%, and net margin at 4.3%.

Returns are acceptable for a cyclical business, with ROA at 8.1%, ROE at 15.3%, and ROIC at 9.3%.

Balance Sheet

Leverage remains low, with debt-to-equity at 0.06 and net debt to EBITDA slightly negative at -0.04.

Liquidity is solid, with a current ratio of 1.73 and quick ratio of 1.01.

Cash Conversion

Cash conversion is decent, with operating cash flow covering capex 2.1x and free cash flow conversion at 52.0% of operating cash flow.

Working capital efficiency is healthy, with a cash conversion cycle of 42.0 days and working capital turnover of 9.0x.