IHS Holding Limited (IHS) Financial Ratios
19 years of historical data (2007–2025) · Communication Services · Telecommunications Services
EV/EBITDA
↓
8.36
↑+22% vs avg
5yr avg: 6.88
30Y Low5.1·High8.7
P/FCF
↑
6.54
↑+38% vs avg
5yr avg: 4.75
30Y Low2.1·High6.1
P/B Ratio
↑
N/A
—
5yr avg: 2.85
30Y Low1.5·High4.4
ROE
↓
N/A
—
5yr avg: -1648.8%
30Y Low-232%·High18%
Debt/EBITDA
↑
5.42
+17% vs avg
5yr avg: 4.65
30Y Low0.1·High9.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IHS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
IHS Holding Limited trades at 19.4x earnings, 9% above its 5-year average of 17.8x, sitting at the 100th percentile of its historical range. Compared to the Communication Services sector median P/E of 15.3x, the stock trades at a premium of 27%. On a free-cash-flow basis, the stock trades at 6.5x P/FCF, 38% above the 5-year average of 4.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.7B | $2.5B | $973M | $1.5B | $2.0B | $4.6B | — | — | — | — | — |
| Enterprise Value | $5.4B | $5.2B | $4.3B | $5.4B | $5.5B | $6.7B | — | — | — | — | — |
| P/E Ratio → | 19.38 | 17.76 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.73 | 1.61 | 0.57 | 0.72 | 1.04 | 2.93 | — | — | — | — | — |
| P/B Ratio | — | — | — | 4.41 | 1.50 | 2.65 | — | — | — | — | — |
| P/FCF | 6.54 | 6.10 | 2.11 | 6.02 | — | — | — | — | — | — | — |
| P/OCF | 4.08 | 3.81 | 1.33 | 1.80 | 2.24 | 6.16 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
IHS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
IHS Holding Limited's enterprise value stands at 8.4x EBITDA, 22% above its 5-year average of 6.9x. The Communication Services sector median is 9.6x, placing the stock at a 13% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.31 | 2.51 | 2.52 | 2.79 | 4.24 | — | — | — | — | — |
| EV / EBITDA | 8.36 | 8.08 | 5.10 | 5.54 | 7.00 | 8.68 | — | — | — | — | — |
| EV / EBIT | 20.35 | 19.67 | — | — | — | 32.07 | — | — | — | — | — |
| EV / FCF | — | 12.53 | 9.33 | 21.01 | — | — | — | — | — | — | — |
IHS Profitability
Margins and return-on-capital ratios measuring operating efficiency
IHS Holding Limited earns an operating margin of 16.8%, significantly above the Communication Services sector average of 1.6%. Operating margins have compressed from 25.0% to 16.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROIC of 7.1% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.6% | 54.6% | 48.0% | 49.0% | 41.0% | 42.6% | 40.2% | 34.1% | 34.4% | 35.8% | 29.9% |
| Operating Margin | 16.8% | 16.8% | 28.0% | 25.0% | 15.9% | 24.6% | 23.7% | -12.8% | 17.6% | 17.4% | 3.1% |
| Net Profit Margin | 9.1% | 9.1% | -95.4% | -93.0% | -23.4% | -1.6% | -22.9% | -34.4% | -11.4% | -38.4% | -91.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -6332.4% | -231.5% | -29.6% | -1.7% | -24.3% | -30.7% | -9.5% | -28.7% | -41.4% |
| ROA | 3.3% | 3.3% | -33.9% | -33.8% | -7.7% | -0.5% | -7.5% | -10.6% | -3.4% | -10.6% | -19.0% |
| ROIC | 7.1% | 7.1% | 10.0% | 8.9% | 5.4% | 8.4% | 8.4% | -4.4% | 5.7% | 5.0% | 0.7% |
| ROCE | 7.7% | 7.7% | 12.4% | 11.5% | 6.4% | 9.2% | 9.0% | -4.6% | 6.0% | 5.3% | 0.7% |
IHS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
IHS Holding Limited carries a Debt/EBITDA ratio of 5.4x, which is highly leveraged (50% above the sector average of 3.6x). Net debt stands at $2.7B ($3.5B total debt minus $826M cash). Interest coverage of just 0.8x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 11.84 | 2.90 | 1.71 | 2.06 | 1.57 | 1.42 | 1.35 | 1.34 |
| Debt / EBITDA | 5.42 | 5.42 | 4.63 | 4.26 | 5.06 | 3.87 | 3.40 | 9.85 | 3.61 | 3.83 | 6.72 |
| Net Debt / Equity | — | — | — | 10.99 | 2.53 | 1.19 | 1.58 | 0.94 | 0.95 | 0.91 | 1.02 |
| Net Debt / EBITDA | 4.14 | 4.14 | 3.95 | 3.95 | 4.40 | 2.68 | 2.61 | 5.90 | 2.41 | 2.58 | 5.12 |
| Debt / FCF | — | 6.43 | 7.22 | 15.00 | — | — | — | 3.50 | 15.00 | 6.43 | — |
| Interest Coverage | 0.84 | 0.84 | -2.61 | -3.28 | -0.67 | 0.96 | 0.28 | -0.95 | 0.54 | — | — |
IHS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
IHS Holding Limited's current ratio of 2.08x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 0.80x to 2.08x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.08 | 2.08 | 1.33 | 0.80 | 0.99 | 1.72 | 1.45 | 2.16 | 1.68 | 2.51 | 2.17 |
| Quick Ratio | 2.05 | 2.05 | 1.29 | 0.76 | 0.93 | 1.67 | 1.38 | 2.07 | 1.64 | 2.45 | 2.09 |
| Cash Ratio | 0.69 | 0.69 | 0.83 | 0.24 | 0.41 | 1.10 | 0.86 | 1.59 | 1.10 | 1.50 | 1.28 |
| Asset Turnover | — | 0.35 | 0.40 | 0.40 | 0.31 | 0.29 | 0.32 | 0.30 | 0.31 | 0.28 | 0.22 |
| Inventory Turnover | 17.05 | 17.05 | 28.96 | 26.72 | 15.59 | 21.59 | 17.03 | 16.65 | 35.72 | 28.53 | 19.74 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
IHS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
IHS Holding Limited does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 5.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 5.6% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 15.3% | 16.4% | 47.3% | 16.6% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $342M | $333M | $333M | $331M | $328M | $331M | $331M | $328M | $287M | $239M |
Peer Comparison
Compare IHS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 IHSYou | $3B | 19.4 | 8.4 | 6.5 | 54.6% | 16.8% | — | 7.1% | 5.4 |
 AMT | $82B | 32.7 | 18.1 | 21.7 | 73.7% | 45.8% | 25.3% | 6.9% | 6.5 |
 CCI | $36B | 80.4 | 23.5 | 12.5 | 66.1% | 48.7% | — | 5.5% | 10.7 |
 SBAC | $20B | 19.1 | 18.8 | 18.6 | 41.6% | 48.7% | — | 10.0% | 8.3 |
 ATUS | $539M | -8.6 | 7.7 | 3.6 | — | -1.3% | — | -0.8% | 0.2 |
 UNIT | $3B | 2.4 | 11.1 | — | 36.9% | 21.2% | 343.0% | 5.2% | 8.8 |
 LUMN | $8B | -4.7 | 9.8 | 22.8 | 46.5% | -1.5% | — | -0.8% | 6.9 |
 CCOI | $711M | -3.7 | 20.7 | — | 17.5% | -10.6% | -229.1% | -3.1% | 17.6 |
 VNET | $2B | -65.9 | 13.7 | — | 22.0% | 7.6% | -3.2% | 2.1% | 10.0 |
 NOK | $77B | 107.2 | 35.4 | 47.9 | 43.5% | 3.9% | 3.1% | 3.0% | 2.7 |
 ERIC | $35B | 13.7 | 8.9 | 11.8 | 48.1% | 13.8% | 26.3% | 22.3% | 1.2 |
| Communication Services Median | — | 15.3 | 9.6 | 11.4 | 48.5% | 1.6% | 2.0% | 2.6% | 3.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 19 years · Updated daily
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IHS — Frequently Asked Questions
Quick answers to the most common questions about buying IHS stock.
What is IHS Holding Limited's P/E ratio?
IHS Holding Limited's current P/E ratio is 19.4x. The historical average is 17.8x. This places it at the 100th percentile of its historical range.
What is IHS Holding Limited's EV/EBITDA?
IHS Holding Limited's current EV/EBITDA is 8.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.9x.
Is IHS stock overvalued?
Based on historical data, IHS Holding Limited is trading at a P/E of 19.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are IHS Holding Limited's profit margins?
IHS Holding Limited has 54.6% gross margin and 16.8% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does IHS Holding Limited have?
IHS Holding Limited's Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.