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IHS Holding Limited
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🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 80 Ready View all →
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$2.9B
Market Cap
4.4
P/E
0.62
PEG
23.6%
ROCE
—
ROE
—
D/E
33.4%
OPM
-3.1%
% from 52W High
73
α RS
🔍 IHS is showing a multi-screen setup because it matches 6 of 39 tracked screener presets, Sector RRG has Real Estate in the Leading quadrant with the trail still rolling over, RS Rating is 73, and it has maintained a 35-day Near 52-Week High momentum persistence. The main caution: the Accumulation Zone preset's Backtest win rate is only 46.7%. Net: Mixed signal stack, not a recommendation. ? Conviction RRG RS Rating Momentum Streaks Backtest
Sources
Conviction 6/39 · Real Estate in Leading quadrant · RS Rating 73 · Near 52-Week High streak: 35d · Backtest win rate 46.7%
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🌏 Global Investor Returns
Currency-adjusted total returns for IHS including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

IHS Holding Limited, together with its subsidiaries, develops, owns, and operates shared communications infrastructure in Nigeria, Cameroon, Côte d’Ivoire, South Africa, and Zambia. The company offers colocation and lease amendment services, which allows customers to lease space on existing towers alongside current tenants, install additional equipment on a tower, and request for ancillary services; build-to-suit sites; in-building solutions and distributed antenna systems, which allows customers to lease space in secure locations within large building complexes, such as shopping malls, stadiums, and airports; non-intrusive small cell installation services on commercial premises, lampposts, and poles; fiber-to-the-tower connectivity services; rural telephony services; and managed services, including maintenance, security, and power supply services. It serves communication service providers, mobile network operators, internet service providers, broadcasters, security functions, and private corporations. IHS Holding Limited was founded in 2001 and is based in London, the United Kingdom.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding IHS
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 2.26M $18.6M 0.03% Mar 2026
Steve Cohen Point72 Asset Management 577.5K $4.8M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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📊 MIXED IHS Q3 2025 revenue $455M, Adj EBITDA $261M, margin 57.5%, leverage 3.3x
Revenue & Profitability
Revenue was $455 million in Q3 2025, up 8.3% reported (7% organic, ~9% constant currency). Adjusted EBITDA was $261 million, a margin of 57.5%. Adjusted levered free cash flow (ALFCF) was $158 million, up 81% year-on-year. For full-year 2025, guidance was raised: revenue $1.72-$1.75 billion, Adj EBITDA $995-$1,015 million, ALFCF $400-$420 million.
Outlook
Management is positive on both Nigeria and Brazil. In Nigeria, macroeconomic trends are improving: the Naira is appreciating, inflation fell to 18%, GDP is growing, and the central bank cut rates. In Brazil, GDP is up 2.3%, the telecom sector is growing 6-7% annually, and 5G densification is driving demand. These tailwinds support sustained organic growth.
Growth Drivers
Growth is driven by CPI-linked escalators, colocation, lease amendments, and new sites. In Nigeria, carrier tariff hikes and the Airtel rollout are boosting activity; 1,750 lease amendments were added in Q3. In Brazil, the TIM partnership aims for up to 3,000 new sites, with 500 minimum in two years. LATAM segment grew 11% organically year-on-year.
Balance Sheet & CapEx
Total CapEx in Q3 2025 was $77 million, up 16% year-on-year, mainly due to maintenance and augmentation in Nigeria. Full-year CapEx guidance remains unchanged at $240-$270 million, including 600 new sites. Management expects to moderately increase growth CapEx in high-return markets like Brazil, while maintaining discipline.
Margins
Q3 2025 Adj EBITDA margin was 57.5%, down 100 bps year-on-year (due to normalized costs and higher power costs) but up 20 bps quarter-on-quarter. Nigeria segment margin was 63.3%, down 230 bps YoY due to 9mobile costs and higher diesel/electricity. LATAM margin improved 560 bps YoY from cost-saving initiatives. Management expects EBITDA margins to remain strong.
Key Risks
Risks include tenancy churn from MTN Nigeria (1,050 sites, ~$8M revenue impact) and 9mobile (2,576 tenancies vacated in exchange for overdue balance settlement). Foreign exchange volatility (Naira appreciation) can affect reported revenue and power indexation. Higher power generation costs and regulatory fees were also cited. Debt maturities (2026-2027 bonds) require refinancing.
Generated by AI · Q3 2025 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q3 2025 Q3 2025 2025-11-12
Q3 2025 saw strong revenue, EBITDA, and cash flow growth, with raised full-year guidance and continued deleveraging. Nigeria and Brazil drove performance, supported by favorable FX and robust telecom demand, while capital allocation remains disciplined and future shareholder returns are under consideration.
Q2 2025 Q2 2025 2025-08-12
Q2 2025 saw strong organic growth, margin stability, and reduced leverage, prompting a full-year guidance raise across all key metrics. Nigeria and Brazil drove segment growth, while disciplined capital allocation and debt reduction improved financial resilience.
Q1 2025 Q1 2025 2025-05-20
Q1 2025 delivered strong revenue, EBITDA, and cash flow growth, with reduced leverage and CapEx, driven by operational focus and macro stability. The Rwanda sale streamlines the portfolio and boosts liquidity, while full-year guidance is reiterated amid ongoing capital allocation discipline.
Q4 2024 Q4 2024 2025-03-18
2024 results exceeded guidance with strong organic growth, improved margins, and reduced leverage. Asset disposals, contract renewals, and macro stabilization in Nigeria support a positive 2025 outlook, with further growth and cash flow improvements expected.
Q3 2024 Q3 2024 2024-11-12
Third quarter saw strong organic growth and margin expansion, offset by significant FX headwinds, especially in Nigeria. Major contract renewals and disciplined CapEx drove improved cash flow and financial visibility, with leverage stable and guidance trending to the upper end.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
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