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NYSE · RADIOTELEPHONE COMMUNICATIONS · LARGE CAP

IHS Holding Ltd. IHS

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$1.6B
▲ 3.6% YoY
$143.6M
$718.7M
▲ 45.4% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Its core business is providing shared communications infrastructure services to MNOs and other customers, who in turn provide wireless voice, data and fiber services to their end users and subscribers. As of December 31, 2025, it operated 37,590 Towers across five countries in Africa and two countries in Latin America. As of December 31, 2025, its owned and operated tower portfolio supported 54,874 Tenants, with a Colocation Rate of 1.46x. It provides customers with opportunities to lease space on existing Towers alongside current Tenants, known as Colocation, to install additional equipment on a Tower or request certain ancillary services, known as Lease Amendments, or to commission the construction of new Towers to a customer's specifications, known as New Sites. In Nigeria, it provides "Fiber-to-the-Tower" connectivity to its customers. In Brazil, it provides "Fiber-to-the-Home" fiber connectivity to its customers through I-Systems, a neutral network infrastructure solution for broadband service.

Written from the business description in IHS Holding Ltd's annual report to the U.S. Securities and Exchange Commission, filed 16 March 2026. Every sentence was checked against that document before publication.

Growth

USD 1.6B
Revenue, FY2025 · full 7-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.6 · Net income 0.1
1B2B-1B-2B
201920222025
Compound annual growth
−6.9%
+2.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +2.4% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

8 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 51.9% · Net 8.0%
20%40%-50%-100%
201920222025
ROE
FY2023 · ROE -318.1%
-100%-200%-300%
201920222025
Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.

Return on equity has no reading this year — return on capital employed, just below, still does: 24%.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 718.7
300M600M
201920222025
Net buybacks $M Dividends $M
FY2023 · Dividends · · Net buybacks 10.0
5M10M
2023

Total assetsUSD 4.5B
EquityUSD -251.3M
CashUSD 825.7M
Gross debtUSD 3.1B
Net debtUSD 2.3B
Current ratio2.08×

Equity was zero or negative — liabilities equaled or exceeded assets. No ratio is shown.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative—not applicable◌not available in our data
IHS, 7-year financial record
Metric 2025202420232022202120202019
Revenue $B1.61.51.92.01.61.41.2
Operating income $B0.80.60.50.30.40.3−0.2
EBITDA $B◌1.01.00.80.80.70.2
Income tax $B0.10.10.1−0.10.00.20.0
Net income $B0.1−1.6−2.0−0.5−0.0−0.3−0.4
Free cash flow $B0.70.50.40.50.50.50.6
EPS, diluted $0.42−4.90−5.93−1.39−0.09−1.09−1.44
Dividend / sh $◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————
ROE %——−318.1−34.6−1.9−24.4−29.6
Shares out B0.340.330.330.330.33◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 7 of the 7 fiscal years we could check. 26 checks were skipped: the balance sheet is not tagged before 2020. 12 checks were skipped: EPS is not tagged before 2019. 12 checks were skipped: revenue is not tagged before 2019.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityRadiotelephone Communications
Listed onNYSE
Incorporated inoutside the United States — SEC code O4
Fiscal year endsDecember 31
Data on record since2019

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