IHS Holding Limited

NYSE•IHS

CEO: Engineer Sam Darwish

Sector: Communication Services

Industry: Telecommunications Services

Listing Date: 2021-10-14

IHS Holding Limited, together with its subsidiaries, develops, owns, and operates shared communications infrastructure in Nigeria, Sub-Saharan Africa, the Middle East and North Africa, and Latin America. It offers colocation and lease agreement, build-to-suit, in-building, small cell, fiber connectivity, and rural telephony solutions to mobile network operators, internet service providers, security functions, and private corporations. IHS Holding Limited was founded in 2001 and is based in London, the United Kingdom.

Contact Information

1 Cathedral Piazza, 123 Victoria Street, London, SW1E 5BP, United Kingdom

44-20-8106-1600

www.ihstowers.com

Market Cap

$2.74B

P/E (TTM)

6.0

14.1

Dividend Yield

52W High

$8.95

52W Low

$3.69

52W Range

85%

Rank47Top 61.9%

3.4

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 3.4 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$455.10M+8.28%

4-Quarter Trend

EPS

$0.45-173.77%

4-Quarter Trend

FCF

$176.90M+57.10%

4-Quarter Trend

2024 Annual Earnings Highlights

Key Highlights

Revenue and EBITDA Decline Total revenue $1.71B USD, down 19.5%; Adjusted EBITDA $928.4M USD, down 18.0% for the year.

Margin Improvement Noted Adjusted EBITDA Margin increased to 54.3% in 2024 from 53.3% in 2023, despite revenue translation impacts.

Portfolio Deconsolidation Complete Completed Kuwait disposal in December 2024, realizing $83.9M USD net gain; Peru disposal finalized in April 2024.

Capital Spending Reduced Total capital expenditure $255.9M USD, reflecting a 56.3% decrease compared to prior year spending levels.

Risk Factors

Extreme Customer Concentration Top three MNO customers accounted for 99% of consolidated revenue in 2024; non-renewal poses material adverse effect risk.

Foreign Exchange Translation Risk Naira devaluation caused $1.39B USD non-core revenue impact; foreign exchange volatility remains a key financial uncertainty.

Internal Control Material Weakness Material weakness identified due to lack of key accounting personnel for complex transactions like goodwill impairment assessment.

High Power Cost Exposure Power generation, heavily reliant on diesel, accounted for 39.2% of 2024 cost of sales, eroding margins.

Outlook

Strategic Review Underway Review targets shareholder value creation via contract renewals, governance improvements, higher Adjusted EBITDA, and debt reduction initiatives.

Organic Growth Focus Maintained Growth driven by Colocation (1.51x rate) and Lease Amendments (39,671 total), leveraging existing asset utilization capacity.

ESG Emissions Reduction Goal Carbon Reduction Roadmap aims for 50% reduction in Scope 1 and 2 emissions intensity by 2030 baseline year 2021.

Debt Reduction Priority Excess cash flow following strategic initiatives is expected to be primarily utilized to reduce outstanding debt obligations.

Peer Comparison

Revenue (TTM)

CHTR

$54.77B

-0.6%

SKM

$12.03B

-4.8%

TLK

$9.06B

-1.9%

Gross Margin (Latest Quarter)

ATEX

100.0%

+0.0pp

IRDM

79.1%

-0.6pp

TLK

67.3%

-0.3pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
CHTR	$27.83B	5.5	31.2%	63.0%
TLK	$17.79B	13.7	15.6%	26.6%
TIMB	$11.99B	14.6	17.5%	50.2%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

1.3%

Moderate Growth

4Q Net Income CAGR

-15.1%

Declining Profitability

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Next earnings:Mar 17, 2026

EPS:$0.10

Revenue:$423.60M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data