| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 86 | 20.2x | 17.8x | Top tier | |
Growth | 50 | 0.4% | 7.1% | Around median | |
Quality | 95 | 17.8% | 4.5% | Top tier | |
Safety | 47 | 1.9x | 2.6x | Around median | |
Capital Return | 91 | — | 2.12% | Top tier | |
Momentum | 77 | 18.1% | 2.9% | Top tier | |
Sentiment | 24 | 1 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
IHS Holding Limited operates telecommunications tower infrastructure in markets including Nigeria, Brazil, and other countries in Sub-Saharan Africa and Latin America. The company generates revenue by leasing sites to operators, adding new tenants and colocations at existing sites, amending leases in connection with the installation of additional equipment, and building new sites, alongside inflation- and energy-linked indexation provisions. Management focuses on organic growth, cost control, cash flow generation, and reducing leverage.
In Q4 FY2025, the company recorded revenue of $254.0 million and gross profit of $212.3 million, representing a calculated gross margin of approximately 83.6%, while the data did not include a net income or earnings per share figure for the quarter. For FY2025, revenue was $1.6 billion, gross profit was $876.6 million, net income was $143.6 million, and earnings per share were $0.42.
The Q3 FY2025 call shows significant concentration in Nigeria, which generated $268 million of the quarter's total revenue of $455.1 million, or approximately 59%, with adjusted earnings before interest, taxes, depreciation, and amortization of $170 million and a margin of 63.3%. Consolidated adjusted earnings before interest, taxes, depreciation, and amortization were $261 million at a margin of 57.5%, while the Latin America segment recorded organic growth of 11% and an increase of approximately 22% in adjusted earnings, driven primarily by Brazil.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $11.75, but the target range is extremely wide at $5 to $22, reflecting substantial variation in assessments of risk and potential outcomes. The average target is approximately 31% above the 52-week high of $8.95, while the data does not include a published earnings multiple that could serve as an additional valuation anchor; therefore, the realization of the expected value is particularly tied to continued leverage reduction and the sustainability of cash flow after currency effects and divestitures.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
IHS generates revenue by leasing telecommunications towers and sites to operators, adding colocations and tenants to existing sites, and making lease amendments when additional equipment is installed. It also benefits from building new sites and from indexing certain contracts to inflation and energy. In Q3 FY2025, constant-currency growth of approximately 9% came from inflation indexation, colocations, lease amendments, and new sites.
Revenue was $455.1 million, adjusted earnings before interest, taxes, depreciation, and amortization were $261 million, and the adjusted margin was 57.5%. Adjusted levered free cash flow reached $158 million, up 81% year over year, while capital expenditures were $77 million. The financial statements also recorded net income of $151.0 million and earnings per share of $0.44.
Nigeria generated $268 million of Q3 FY2025 revenue, or approximately 59% of the quarter's total revenue. The segment generated adjusted earnings of $170 million and a margin of 63.3%, while adding more than 220 new colocations and integrating more than 1,750 lease amendments since June 2025. Conversely, the exit of tenants and lease amendments associated with the MTN Nigeria program reduced revenue by approximately $8 million compared with the corresponding period.
The agreement targets the construction of up to 3,000 sites in Brazil over five years, with an initial minimum of 500 sites over two years. IHS owns 8,506 towers in Brazil according to Q3 FY2025 data, making the agreement an extension of an existing platform rather than entry into a new market. During that quarter, the Latin America segment delivered organic growth exceeding 11% and an increase of approximately 22% in adjusted earnings.
On November 12, 2025, management raised the expected revenue range to $1.72–$1.75 billion and the adjusted earnings before interest, taxes, depreciation, and amortization range to $995 million–$1.015 billion. It also raised adjusted levered free cash flow guidance to $400–$420 million and maintained capital expenditures at $240–$270 million, including an assumption of constructing 600 new sites. Management explained that the guidance implies organic revenue growth of 10% at the midpoint of the range and that the increase for the remainder of FY2025 was effectively based on stronger exchange-rate assumptions.
The consolidated net leverage ratio was 3.3 times as of September 30, 2025, down 0.6 times year over year, while net debt was below $3.3 billion. Liquidity was $951 million, consisting of $651 million in cash and $300 million from an undrawn credit facility. After the Rwanda sale closed on October 9, 2025, and $175 million was received, management estimated an initial additional decline in the leverage ratio of approximately 0.1 times.
