IHS vs TIGO
IHS Holding Ltd. and Millicom International Cellular SA, side by side — 7 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | IHS | TIGO |
|---|---|---|
| Revenue | $1.6B | $5.8B |
| Net income | $143.6M | $1.3B |
| Gross margin | 55.4% | 77.5% |
| Net margin | 8.0% | 23.4% |
| Return on equity | · | 36.2% |
| Diluted EPS | $0.42 | $7.83 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $718.7M | $1.1B |
| Equity | $-251.3M | $3.6B |
| Net debt / equity | · | 1.47× |
| Current ratio | 2.08× | · |
| Revenue CAGR 5y | 2.4% | 8.9% |
| Profit CAGR 5y | · | · |
TIGO bills 3.7× the revenue of IHS, and keeps more of each dollar of revenue as profit (23.4% against 8.0%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
7 years side by side
| Fiscal year | IHS | TIGO |
|---|---|---|
| FY2025 | $1.6B | $5.8B |
| FY2024 | $1.5B | $5.8B |
| FY2023 | $1.9B | $5.7B |
| FY2022 | $2.0B | $5.6B |
| FY2021 | $1.6B | $4.3B |
| FY2020 | $1.4B | $3.8B |
| FY2019 | $1.2B | $4.3B |
Bottom line
| Fiscal year | IHS | TIGO |
|---|---|---|
| FY2025 | $143.6M | $1.3B |
| FY2024 | $-1.6B | $253.0M |
| FY2023 | $-2.0B | $-82.0M |
| FY2022 | $-459.0M | $177.0M |
| FY2021 | $-25.8M | $590.0M |
| FY2020 | $-322.0M | $-344.0M |
| FY2019 | $-423.5M | $149.0M |
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$4,237,000,000 | TIGO |
| FY2024 | −$4,276,800,000 | TIGO |
| FY2023 | −$3,735,700,000 | TIGO |
| FY2022 | −$3,662,701,000 | TIGO |
| FY2021 | −$2,681,270,000 | TIGO |
| FY2020 | −$2,401,851,000 | TIGO |
| FY2019 | −$3,104,944,000 | TIGO |
TIGO has reported the higher revenue in every one of these 7 fiscal years. The gap has widened since the earliest year compared.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
7 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −15.4 pp | TIGO |
| FY2024 | −112.3 pp | TIGO |
| FY2023 | −98.9 pp | TIGO |
| FY2022 | −26.2 pp | TIGO |
| FY2021 | −14.4 pp | TIGO |
| FY2020 | −12.9 pp | TIGO |
| FY2019 | −38.0 pp | TIGO |
TIGO has kept the higher net margin in every one of these 7 fiscal years.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IHS's net margin has been more volatile than TIGO's over the 7 comparable fiscal years — 43.0 percentage points of standard deviation against 10.2.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
TIGO led in net margin in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 10 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
IHS's return on equity has been more volatile than TIGO's over the 5 comparable fiscal years — 118.7 percentage points of standard deviation against 13.3.
5 of 10 comparable fiscal years — a year missing data on either side is not counted.
Year by year
TIGO led in return on equity in every one of the 5 comparable fiscal years — a structural lead, not a recent swing.
5 of 10 comparable fiscal years — a year missing data on either side is not counted.