IHS Holding Limited (IHS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
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IHS Holding Limited (IHS) stock price & volume — 10-year historical chart
IHS Holding Limited (IHS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
IHS Holding Limited (IHS) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 12, 2026 | $0.20vs $0.33-38.5% | $467Mvs $439M+6.4% |
| Q2 2026 | Mar 16, 2026 | $0.98vs $0.17+476.5% | $398Mvs $429M-7.2% |
| Q4 2025 | Nov 12, 2025 | $0.44vs $0.10+340.0% | $455Mvs $429M+6.2% |
| Q3 2025 | Aug 12, 2025 | $0.10vs $0.17-41.2% | $433Mvs $420M+3.1% |
IHS Holding Limited (IHS) competitors in Towers and Shared Telecom Infrastructure — business model, growth, and fundamentals comparison
IHS Holding Limited (IHS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
IHS Holding Limited (IHS) annual income statement — 10-year revenue, gross profit & net income history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Revenue | 1.11B | 1.17B | 1.23B | 1.4B | 1.58B | 1.96B | 2.13B | 1.71B | 1.58B | 1.56B |
Revenue Growth % | 22.23% | 5.52% | 5.39% | 13.98% | 12.58% | 24.15% | 8.37% | -19.49% | -7.55% | -10.12% |
Cost of Revenue | 710.75M | 766.73M | 810.97M | 838.42M | 907.39M | 1.16B | 1.08B | 890.53M | 717.8M | 730.55M |
Gross Profit | 396.2M▲ 0% | 401.36M▲ 1.3% | 420.09M▲ 4.7% | 564.73M▲ 34.4% | 672.34M▲ 19.1% | 804.3M▲ 19.6% | 1.04B▲ 29.4% | 820.69M▼ 21.1% | 864.2M▲ 5.3% | 827.25M▲ 0% |
Gross Margin % | 35.79% | 34.36% | 34.12% | 40.25% | 42.56% | 41.01% | 48.97% | 47.96% | 54.63% | 53.1% |
Gross Profit Growth % | 46.23% | 1.3% | 4.67% | 34.43% | 19.06% | 19.63% | 29.41% | -21.15% | 5.3% | - |
Operating Expenses | 595.57M | 181.32M | 577.19M | 232.78M | 283.97M | 492.05M | 510.16M | 341.55M | 598.1M | 245.18M |
Other Operating Expenses | - | - | - | - | - | - | - | - | - | - |
EBITDA | 517.07M | 525.35M | 227.4M | 740.61M | 771.25M | 781.15M | 966.24M | 841.88M | 647.8M | 915.48M |
EBITDA Margin % | 46.71% | 44.98% | 18.47% | 52.78% | 48.82% | 39.83% | 45.46% | 49.2% | 40.95% | 58.77% |
EBITDA Growth % | 73.38% | 1.6% | -56.71% | 225.68% | 4.14% | 1.28% | 23.69% | -12.87% | -23.05% | -6.87% |
Depreciation & Amortization | 324.09M | 319.42M | 384.51M | 408.66M | 382.88M | 468.9M | 435.59M | 362.74M | 381.7M | 333.4M |
D&A / Revenue % | 29.28% | 27.35% | 31.23% | 29.12% | 24.24% | 23.91% | 20.49% | 21.2% | 24.13% | 21.4% |
Operating Income (EBIT) | 192.99M▲ 0% | 205.93M▲ 6.7% | -157.1M▼ 176.3% | 331.94M▲ 311.3% | 388.37M▲ 17.0% | 312.25M▼ 19.6% | 530.65M▲ 69.9% | 479.15M▼ 9.7% | 266.1M▼ 44.5% | 582.08M▲ 0% |
Operating Margin % | 17.43% | 17.63% | -12.76% | 23.66% | 24.58% | 15.92% | 24.97% | 28% | 16.82% | 37.37% |
Operating Income Growth % | 584.44% | 6.71% | -176.29% | 311.29% | 17% | -19.6% | 69.95% | -9.71% | -44.46% | - |
Interest Expense | 0 | 186.25M | 209.85M | 209.63M | 216.75M | 320.64M | 437.44M | 443.56M | 317.3M | 4M |
Interest Coverage | - | 0.54x | -0.95x | 0.28x | 0.96x | -0.67x | -3.28x | -2.61x | 0.84x | - |
Interest / Revenue % | 0% | 15.95% | 17.05% | 14.94% | 13.72% | 16.35% | 20.58% | 25.92% | 20.06% | 0.26% |
Non-Operating Income | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K | 0 |
Pretax Income | -396.41M▲ 0% | -86.02M▲ 78.3% | -409.97M▼ 376.6% | -152.85M▲ 62.7% | -8.14M▲ 94.7% | -543.98M▼ 6582.0% | -1.88B▼ 245.7% | -1.61B▲ 14.4% | 690.8M▲ 142.9% | 738.8M▲ 0% |
Pretax Margin % | -35.81% | -7.36% | -33.3% | -10.89% | -0.52% | -27.74% | -88.48% | -94.1% | 43.67% | 47.43% |
Income Tax | 25.13M | 46.75M | 13.52M | 169.83M | 17.98M | -75.01M | 107.53M | 33.96M | 86.4M | 98M |
Effective Tax Rate % | -6.34% | -54.34% | -3.3% | -111.11% | -220.86% | 13.79% | -5.72% | -2.11% | 12.51% | 13.26% |
Net Income | -425.45M▲ 0% | -132.77M▲ 68.8% | -423.49M▼ 219.0% | -321.99M▲ 24.0% | -25.83M▲ 92.0% | -459.01M▼ 1676.9% | -1.98B▼ 330.6% | -1.63B▲ 17.4% | 143.6M▲ 108.8% | 186.3M▲ 0% |
Net Margin % | -38.43% | -11.37% | -34.4% | -22.95% | -1.64% | -23.4% | -92.99% | -95.37% | 9.08% | 11.96% |
Net Income Growth % | 48.52% | 68.79% | -218.97% | 23.97% | 91.98% | -1676.89% | -330.63% | 17.43% | 108.8% | 508.3% |
EPS (Diluted) | -1.48▲ 0% | -0.40▲ 73.0% | -1.28▼ 220.0% | -0.98▲ 23.4% | -0.08▲ 91.9% | -1.42▼ 1681.7% | -5.93▼ 317.6% | -4.90▲ 17.4% | 0.42▲ 108.6% | 0.54▲ 0% |
EPS Growth % | 57.1% | 72.97% | -220% | 23.44% | 91.87% | -1681.68% | -317.61% | 17.37% | 108.57% | 478.57% |
EPS (Basic) | -1.48 | -0.40 | -1.28 | -0.98 | -0.08 | -1.42 | -5.93 | -4.90 | 0.43 | - |
Diluted Shares Outstanding | 286.56M | 328.05M | 330.75M | 330.75M | 327.82M | 330.96M | 333.18M | 333.06M | 341.64M | 343.11M |
IHS Holding Limited (IHS) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Total Assets | 4B | 3.82B | 4.16B | 4.45B | 5.54B | 6.32B | 5.36B | 4.28B | 4.49B | 4.67B |
Asset Growth % | -1.39% | -4.29% | 8.88% | 6.79% | 24.61% | 14.05% | -15.13% | -20.28% | 4.97% | 11.97% |
PP&E (Net) | 1.55B | 1.53B | 1.91B | 1.91B | 2.28B | 3.04B | 2.63B | 2.05B | 1.19B | 1.19B |
PP&E / Total Assets % | 38.7% | 40.05% | 45.79% | 42.86% | 41.19% | 48.1% | 48.97% | 47.97% | 26.42% | 25.54% |
Total Current Assets | 1.08B | 964.29M | 1.22B | 989.32M | 1.43B | 1.25B | 972.61M | 924.31M | 2.5B | 2.69B |
Cash & Equivalents | 646.2M | 633.45M | 898.8M | 585.42M | 916.49M | 514.08M | 293.82M | 577.96M | 825.7M | 940.5M |
Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
Inventory | 24.91M | 21.47M | 48.71M | 49.22M | 42.02M | 74.22M | 40.59M | 30.75M | 42.1M | 41.1M |
Other Current Assets | 241.31M | 83.79M | 53K | 27.5M | 0 | -49.93M | 26.61M | 0 | 1.45B | 1.5B |
Long-Term Investments | 12K | 10K | 42.62M | 170.69M | 11K | 10K | 13K | 117.84M | 50.1M | 300.6M |
Goodwill | 552.31M | 530.66M | 518.14M | 656.26M | 779.9M | 763.39M | 619.3M | 403.24M | 262.7M | 269.5M |
Intangible Assets | 513.28M | 478.85M | 449.63M | 690.84M | 845.73M | 1.05B | 933.03M | 673.95M | 288.9M | 281.3M |
Other Assets | 305.89M | 319.09M | 18.78M | 20.93M | 192.08M | 136.47M | 148.83M | 32.6M | 133.8M | 21.1M |
Total Liabilities | 2.52B | 2.49B | 2.73B | 3.22B | 3.8B | 4.96B | 5.02B | 4.57B | 4.58B | 4.69B |
Total Debt | 1.98B | 1.9B | 2.24B | 2.52B | 2.99B | 3.95B | 4.11B | 3.9B | 3.51B | 3.5B |
Net Debt | 1.33B | 1.26B | 1.34B | 1.93B | 2.07B | 3.44B | 3.82B | 3.32B | 2.68B | 2.56B |
Long-Term Debt | 1.87B | 1.71B | 1.95B | 2.02B | 2.4B | 2.91B | 3.06B | 3.22B | 2.84B | 2.81B |
Short-Term Borrowings | 113.61M | 187.44M | 122M | 214.37M | 207.62M | 438.11M | 454.15M | 128.73M | 356.4M | 385.2M |
Capital Lease Obligations | 0 | 0 | 167.66M | 286.5M | 376.1M | 605.56M | 601.99M | 552.54M | 311.7M | 1.83B |
Total Current Liabilities | 429.77M | 573.53M | 566.46M | 683.64M | 830.56M | 1.27B | 1.22B | 693.57M | 1.2B | 1.34B |
Accounts Payable | 238.04M | 281.28M | 338.4M | 301.81M | 342.84M | 442.96M | 330.62M | 232.93M | 148.4M | 183.6M |
Accrued Expenses | 10.16M | 21.5M | 18.87M | 27.48M | 53.45M | 45.33M | 46.28M | 42.84M | 34.4M | 120.6M |
Deferred Revenue | 0 | 0 | 2.69M | 2.22M | 20.43M | 86.36M | 41.46M | 64.88M | 46.6M | 48.6M |
Other Current Liabilities | 67.97M | 83.31M | 54.12M | 89.06M | 4.11M | 1.88M | 182.67M | 10.38M | 547.6M | 596.3M |
Deferred Taxes | 0 | 0 | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 177.4M |
Other Liabilities | 226.87M | 208.93M | 29.8M | 59.03M | 71.91M | 85.99M | 90.76M | 89.09M | 70.8M | 66.8M |
Total Equity | 1.47B▲ 0% | 1.33B▼ 9.5% | 1.43B▲ 7.4% | 1.22B▼ 14.4% | 1.74B▲ 42.4% | 1.36B▼ 22.0% | 347.35M▼ 74.5% | -295.81M▼ 185.2% | -89.8M▲ 69.6% | -23.7M▲ 0% |
Equity Growth % | -1.66% | -9.53% | 7.38% | -14.41% | 42.43% | -21.99% | -74.46% | -185.16% | 69.64% | 337.14% |
Shareholders Equity | 1.47B | 1.33B | 1.43B | 1.21B | 1.52B | 1.13B | 109.85M | -454.58M | -251.3M | -193.3M |
Minority Interest | 0 | 0 | 0 | 14.22M | 223.19M | 227.2M | 237.51M | 158.77M | 161.5M | 169.6M |
Common Stock | 4.52B | 4.52B | 4.53B | 4.53B | 5.22B | 5.31B | 5.39B | 100.03M | 100.66M | 5.42B |
Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.32B | 0 |
Retained Earnings | -1.96B | -2.09B | -2.51B | -2.83B | -2.86B | -3.32B | -5.29B | -6.93B | -6.8B | -6.72B |
Accumulated OCI | -1.09B | -1.1B | -591.17M | -489.52M | -842.91M | -861.27M | 8.43M | 1.06B | 1.13B | 1.11B |
Return on Assets (ROA) | -10.57% | -3.4% | -10.6% | -7.48% | -0.52% | -7.74% | -33.83% | -33.85% | 3.28% | 4.07% |
Return on Equity (ROE) | -28.65% | -9.47% | -30.66% | -24.26% | -1.74% | -29.58% | -231.51% | -6332.43% | - | -428.77% |
Debt / Equity | 1.35x | 1.42x | 1.57x | 2.06x | 1.71x | 2.90x | 11.84x | - | - | -147.77x |
Debt / Assets | 49.57% | 49.62% | 53.79% | 56.61% | 53.86% | 62.49% | 76.66% | 91.2% | 78.18% | 75.06% |
Net Debt / EBITDA | 2.58x | 2.41x | 5.90x | 2.61x | 2.68x | 4.40x | 3.95x | 3.95x | 4.14x | 2.80x |
Book Value per Share | 5.14 | 4.06 | 4.32 | 3.7 | 5.32 | 4.11 | 1.04 | -0.89 | -0.26 | -0.07 |
IHS Holding Limited (IHS) cash flow — operating, investing & free cash flow history
| Metric | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | 456.11M | 462.31M | 641.94M | 635.26M | 750.19M | 907.3M | 853.45M | 729.3M | 669.5M | 865.1M |
Operating CF Growth % | 9.77% | 1.36% | 38.86% | -1.04% | 18.09% | 20.94% | -5.94% | -14.55% | -8.2% | 72.67% |
Operating CF / Revenue % | 41.2% | 39.58% | 52.15% | 45.27% | 47.49% | 46.26% | 40.15% | 42.62% | 42.32% | 55.53% |
Net Income | -425.45M | -86.02M | -409.97M | -152.85M | -8.14M | -543.98M | -1.88B | -1.61B | 621.2M | 186.3M |
Depreciation & Amortization | 324.09M | 317.3M | 384.51M | 408.66M | 382.88M | 468.9M | 435.59M | 362.74M | 381.7M | 333.4M |
Deferred Taxes | 0 | 56.34M | 82.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 676.8M | 246.82M | 251.72M | 528.87M | 433.5M | 1.02B | 2.51B | 2.11B | -346.6M | -210.67M |
Working Capital Changes | -91.9M | -67.07M | -18.13M | -157.76M | -69.83M | -46.24M | -224.98M | -158.67M | 13.2M | 40.37M |
Capital Expenditures | -248.64M | -378.02M | -258.28M | -758.51M | -877.95M | -1.52B | -598.77M | -269.01M | -252M | -250.08M |
CapEx / Revenue % | 22.46% | 32.36% | 20.98% | 54.06% | 55.58% | 77.36% | 27.1% | 15.49% | 15.94% | 16.05% |
CapEx / D&A | 0.77x | 1.19x | 0.67x | 1.86x | 2.29x | 3.24x | 1.32x | 0.73x | 0.66x | 0.75x |
CapEx Coverage (OCF/CapEx) | 1.83x | 1.22x | 2.49x | 0.84x | 0.85x | 0.60x | 1.48x | 2.75x | 2.66x | 3.46x |
Cash from Investing | -344.31M | -264.6M | -235.81M | -758.51M | -877.95M | -1.52B | -722.25M | 63.18M | -64.6M | -32.3M |
Acquisitions | 54K | 1.86M | 2.4M | -542.9M | -401.04M | -735.74M | -4.49M | 118.96M | 171.8M | 185.37M |
Purchase of Investments | 0 | 0 | 0 | 0 | -103.65M | -512.11M | -183.4M | -43.66M | 0 | -14.8M |
Sale of Investments | 0 | 0 | 0 | 0 | 0 | 270.83M | 36.16M | 211.45M | 0 | 1.4M |
Other Investing | -95.73M | 113.43M | 20.07M | 11.13M | 24.16M | 3.4M | 5.44M | 41.46M | 15.7M | 45.82M |
Cash from Financing | 113.17M | -202.78M | -138.32M | -128.14M | 524.26M | 398.24M | -162.3M | -431M | -335.1M | -491.73M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Dividend Payout Ratio % | - | - | - | - | - | - | - | - | - | - |
Debt Issuance (Net) | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -4M |
Stock Issued | 0 | 0 | 12.37M | 0 | 378M | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | -10.04M | 0 | 0 | 0 |
Other Financing | -132.63M | -123.2M | -257.67M | -221.3M | -212.97M | -281.9M | -376.07M | -434.83M | -123.2M | -273.66M |
Net Change in Cash | 170.12M▲ 0% | -12.75M▼ 107.5% | 265.35M▲ 2181.8% | -313.39M▼ 218.1% | 331.07M▲ 205.6% | -402.41M▼ 221.5% | -220.25M▲ 45.3% | 284.13M▲ 229.0% | 247.74M▼ 12.8% | 315.4M▲ 0% |
Exchange Rate Effect | -54.84M | -7.68M | -2.46M | -61.99M | -65.43M | -190.67M | -189.16M | -77.36M | -22.06M | -25.68M |
Cash at Beginning | 476.08M | 646.2M | 633.45M | 898.8M | 585.42M | 916.49M | 514.08M | 293.82M | 577.96M | 825.7M |
Cash at End | 646.2M | 633.45M | 898.8M | 585.42M | 916.49M | 514.08M | 293.82M | 577.96M | 825.7M | 940.5M |
Free Cash Flow | 207.47M▲ 0% | 84.28M▼ 59.4% | 383.66M▲ 355.2% | -123.26M▼ 132.1% | -127.76M▼ 3.7% | -609.99M▼ 377.4% | 254.68M▲ 141.8% | 460.29M▲ 80.7% | 417.5M▼ 9.3% | 615.02M▲ 0% |
FCF Growth % | 217.27% | -59.38% | 355.21% | -132.13% | -3.65% | -377.45% | 141.75% | 80.73% | -9.3% | 3.23% |
FCF Margin % | 18.74% | 7.22% | 31.17% | -8.78% | -8.09% | -31.1% | 11.98% | 26.9% | 26.39% | 39.48% |
FCF / Net Income % | -48.76% | -63.48% | -90.59% | 38.28% | 494.58% | 132.89% | -12.88% | -28.2% | 290.74% | 330.12% |
IHS Holding Limited (IHS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -28.65% | -9.47% | -30.66% | -24.26% | -1.74% | -29.58% | -231.51% | -6332.43% | - | -428.77% |
EBITDA Margin | 46.71% | 44.98% | 18.47% | 52.78% | 48.82% | 39.83% | 45.46% | 49.2% | 40.95% | 58.77% |
Net Debt / EBITDA | 2.58x | 2.41x | 5.90x | 2.61x | 2.68x | 4.40x | 3.95x | 3.95x | 4.14x | 2.80x |
Interest Coverage | - | 0.54x | -0.95x | 0.28x | 0.96x | -0.67x | -3.28x | -2.61x | 0.84x | - |
CapEx / Revenue | 22.46% | 32.36% | 20.98% | 54.06% | 55.58% | 77.36% | 27.1% | 15.49% | 15.94% | 16.05% |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | 0% |
Debt / Equity | 1.35x | 1.42x | 1.57x | 2.06x | 1.71x | 2.90x | 11.84x | - | - | -147.77x |
EPS Growth | 57.1% | 72.97% | -220% | 23.44% | 91.87% | -1681.68% | -317.61% | 17.37% | 108.57% | 478.57% |
IHS Holding Limited (IHS) stock FAQ — growth, dividends, profitability & financials explained
IHS Holding Limited (IHS) reported $1.56B in revenue for fiscal year 2025. This represents a 183% increase from $550.8M in 2007.
IHS Holding Limited (IHS) saw revenue decline by 7.6% over the past year.
Yes, IHS Holding Limited (IHS) is profitable, generating $186.3M in net income for fiscal year 2025 (9.1% net margin).
IHS Holding Limited (IHS) generated $615.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
IHS Holding Limited (IHS) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.