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Side-by-side financial comparison of IHS Holding Ltd (IHS) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $165.3M, roughly 1.5× INDEPENDENCE REALTY TRUST, INC.). On growth, INDEPENDENCE REALTY TRUST, INC. posted the faster year-over-year revenue change (2.5% vs 0.1%). Over the past eight quarters, INDEPENDENCE REALTY TRUST, INC.'s revenue compounded faster (2.2% CAGR vs -22.0%).
IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world, with operations across Africa and Latin America. It is the fifth-largest independent multinational tower company in the world.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
IHS vs IRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $165.3M |
| Net Profit | — | — |
| Gross Margin | 83.6% | — |
| Operating Margin | — | — |
| Net Margin | — | — |
| Revenue YoY | 0.1% | 2.5% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.00 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $165.3M | ||
| Q4 25 | $254.0M | $167.1M | ||
| Q3 25 | $455.1M | $167.1M | ||
| Q2 25 | $433.3M | $162.2M | ||
| Q1 25 | $439.6M | $161.2M | ||
| Q4 24 | $253.8M | $161.0M | ||
| Q3 24 | $420.3M | $160.1M | ||
| Q2 24 | $435.4M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $33.3M | ||
| Q3 25 | $147.4M | $6.9M | ||
| Q2 25 | $32.3M | $8.0M | ||
| Q1 25 | $30.7M | $8.4M | ||
| Q4 24 | — | $-1.0M | ||
| Q3 24 | $-205.7M | $12.4M | ||
| Q2 24 | $-124.3M | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | 83.6% | — | ||
| Q3 25 | 47.5% | — | ||
| Q2 25 | 51.3% | — | ||
| Q1 25 | 51.4% | — | ||
| Q4 24 | 72.1% | — | ||
| Q3 24 | 52.0% | — | ||
| Q2 24 | 52.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 35.1% | — | ||
| Q2 25 | 33.8% | — | ||
| Q1 25 | 37.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 34.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.9% | ||
| Q3 25 | 32.4% | 4.1% | ||
| Q2 25 | 7.5% | 5.0% | ||
| Q1 25 | 7.0% | 5.2% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | -48.9% | 7.7% | ||
| Q2 24 | -28.5% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | — | $0.14 | ||
| Q3 25 | $0.44 | $0.03 | ||
| Q2 25 | $0.10 | $0.03 | ||
| Q1 25 | $0.10 | $0.04 | ||
| Q4 24 | — | $-0.01 | ||
| Q3 24 | $-0.61 | $0.05 | ||
| Q2 24 | $-0.36 | $0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $825.7M | $23.3M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | $3.4B |
| Total Assets | $4.5B | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $825.7M | $23.6M | ||
| Q3 25 | $647.6M | $23.3M | ||
| Q2 25 | $531.8M | $19.5M | ||
| Q1 25 | $629.0M | $29.1M | ||
| Q4 24 | $578.0M | $21.2M | ||
| Q3 24 | $397.5M | $17.6M | ||
| Q2 24 | $445.7M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $2.3B | ||
| Q3 25 | $3.3B | $2.3B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.4B | $2.3B | ||
| Q4 24 | $3.3B | $2.3B | ||
| Q3 24 | $3.5B | $2.3B | ||
| Q2 24 | $3.6B | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $-89.8M | $3.5B | ||
| Q3 25 | $38.1M | $3.5B | ||
| Q2 25 | $-98.4M | $3.4B | ||
| Q1 25 | $-184.4M | $3.5B | ||
| Q4 24 | $-314.4M | $3.4B | ||
| Q3 24 | $-284.7M | $3.4B | ||
| Q2 24 | $-308.3M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $4.5B | $6.0B | ||
| Q3 25 | $4.7B | $6.1B | ||
| Q2 25 | $4.5B | $6.0B | ||
| Q1 25 | $4.4B | $6.0B | ||
| Q4 24 | $4.2B | $6.1B | ||
| Q3 24 | $4.6B | $5.9B | ||
| Q2 24 | $4.5B | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | 85.85× | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $246.9M | — |
| Free Cash FlowOCF − Capex | $178.6M | — |
| FCF MarginFCF / Revenue | 70.3% | — |
| Capex IntensityCapex / Revenue | 26.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $246.9M | $282.1M | ||
| Q3 25 | $251.3M | $79.3M | ||
| Q2 25 | $237.7M | $82.2M | ||
| Q1 25 | $200.3M | $60.4M | ||
| Q4 24 | $344.4M | $259.8M | ||
| Q3 24 | $174.5M | $69.2M | ||
| Q2 24 | $134.7M | $83.0M |
| Q1 26 | — | — | ||
| Q4 25 | $178.6M | — | ||
| Q3 25 | $189.2M | — | ||
| Q2 25 | $197.7M | — | ||
| Q1 25 | $153.2M | — | ||
| Q4 24 | $282.9M | — | ||
| Q3 24 | $122.3M | — | ||
| Q2 24 | $74.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 70.3% | — | ||
| Q3 25 | 41.6% | — | ||
| Q2 25 | 45.6% | — | ||
| Q1 25 | 34.8% | — | ||
| Q4 24 | 111.5% | — | ||
| Q3 24 | 29.1% | — | ||
| Q2 24 | 17.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 9.2% | — | ||
| Q1 25 | 10.7% | — | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 12.4% | — | ||
| Q2 24 | 13.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.48× | ||
| Q3 25 | 1.70× | 11.51× | ||
| Q2 25 | 7.36× | 10.22× | ||
| Q1 25 | 6.52× | 7.23× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.60× | ||
| Q2 24 | — | 8.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
