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Side-by-side financial comparison of IHS Holding Ltd (IHS) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $208.9M, roughly 1.2× iRhythm Holdings, Inc.). On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $14.5M). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% 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.
iRhythm Holdings is a digital healthcare company focused on cardiac care, developing and commercializing wearable ambulatory heart monitoring devices paired with AI-powered analytical tools. It primarily serves healthcare providers and patients across the United States, helping to detect undiagnosed arrhythmias such as atrial fibrillation through convenient long-term heart rhythm tracking that delivers actionable clinical insights.
IHS vs IRTC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $208.9M |
| Net Profit | — | $5.6M |
| Gross Margin | 83.6% | 70.9% |
| Operating Margin | — | 1.1% |
| Net Margin | — | 2.7% |
| Revenue YoY | 0.1% | 27.1% |
| Net Profit YoY | — | 518.5% |
| EPS (diluted) | — | $0.18 |
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.
| Q4 25 | $254.0M | $208.9M | ||
| Q3 25 | $455.1M | $192.9M | ||
| Q2 25 | $433.3M | $186.7M | ||
| Q1 25 | $439.6M | $158.7M | ||
| Q4 24 | $253.8M | $164.3M | ||
| Q3 24 | $420.3M | $147.5M | ||
| Q2 24 | $435.4M | $148.0M | ||
| Q1 24 | $417.7M | $131.9M |
| Q4 25 | — | $5.6M | ||
| Q3 25 | $147.4M | $-5.2M | ||
| Q2 25 | $32.3M | $-14.2M | ||
| Q1 25 | $30.7M | $-30.7M | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | $-205.7M | $-46.2M | ||
| Q2 24 | $-124.3M | $-20.1M | ||
| Q1 24 | $-1.6B | $-45.7M |
| Q4 25 | 83.6% | 70.9% | ||
| Q3 25 | 47.5% | 71.1% | ||
| Q2 25 | 51.3% | 71.2% | ||
| Q1 25 | 51.4% | 68.8% | ||
| Q4 24 | 72.1% | 70.0% | ||
| Q3 24 | 52.0% | 68.8% | ||
| Q2 24 | 52.5% | 69.9% | ||
| Q1 24 | 39.1% | 66.3% |
| Q4 25 | — | 1.1% | ||
| Q3 25 | 35.1% | -4.4% | ||
| Q2 25 | 33.8% | -10.0% | ||
| Q1 25 | 37.1% | -20.5% | ||
| Q4 24 | — | -2.5% | ||
| Q3 24 | 29.9% | -34.1% | ||
| Q2 24 | 34.0% | -15.5% | ||
| Q1 24 | -1.7% | -28.9% |
| Q4 25 | — | 2.7% | ||
| Q3 25 | 32.4% | -2.7% | ||
| Q2 25 | 7.5% | -7.6% | ||
| Q1 25 | 7.0% | -19.3% | ||
| Q4 24 | — | -0.8% | ||
| Q3 24 | -48.9% | -31.3% | ||
| Q2 24 | -28.5% | -13.6% | ||
| Q1 24 | -372.8% | -34.6% |
| Q4 25 | — | $0.18 | ||
| Q3 25 | $0.44 | $-0.16 | ||
| Q2 25 | $0.10 | $-0.44 | ||
| Q1 25 | $0.10 | $-0.97 | ||
| Q4 24 | — | $-0.03 | ||
| Q3 24 | $-0.61 | $-1.48 | ||
| Q2 24 | $-0.36 | $-0.65 | ||
| Q1 24 | $-4.67 | $-1.47 |
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 | $583.8M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | $152.7M |
| Total Assets | $4.5B | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $583.8M | ||
| Q3 25 | $647.6M | $565.2M | ||
| Q2 25 | $531.8M | $545.5M | ||
| Q1 25 | $629.0M | $520.6M | ||
| Q4 24 | $578.0M | $535.6M | ||
| Q3 24 | $397.5M | $522.0M | ||
| Q2 24 | $445.7M | $561.5M | ||
| Q1 24 | $333.2M | $569.1M |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.5B | — |
| Q4 25 | $-89.8M | $152.7M | ||
| Q3 25 | $38.1M | $121.9M | ||
| Q2 25 | $-98.4M | $103.7M | ||
| Q1 25 | $-184.4M | $86.7M | ||
| Q4 24 | $-314.4M | $90.9M | ||
| Q3 24 | $-284.7M | $71.8M | ||
| Q2 24 | $-308.3M | $99.2M | ||
| Q1 24 | $-163.2M | $90.3M |
| Q4 25 | $4.5B | $1.0B | ||
| Q3 25 | $4.7B | $995.2M | ||
| Q2 25 | $4.5B | $964.0M | ||
| Q1 25 | $4.4B | $926.1M | ||
| Q4 24 | $4.2B | $931.4M | ||
| Q3 24 | $4.6B | $909.7M | ||
| Q2 24 | $4.5B | $919.2M | ||
| Q1 24 | $4.6B | $909.8M |
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $26.2M |
| Free Cash FlowOCF − Capex | $178.6M | $14.5M |
| FCF MarginFCF / Revenue | 70.3% | 6.9% |
| Capex IntensityCapex / Revenue | 26.9% | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $26.2M | ||
| Q3 25 | $251.3M | $34.9M | ||
| Q2 25 | $237.7M | $27.7M | ||
| Q1 25 | $200.3M | $-7.9M | ||
| Q4 24 | $344.4M | $19.2M | ||
| Q3 24 | $174.5M | $24.3M | ||
| Q2 24 | $134.7M | $11.8M | ||
| Q1 24 | $75.8M | $-52.0M |
| Q4 25 | $178.6M | $14.5M | ||
| Q3 25 | $189.2M | $20.1M | ||
| Q2 25 | $197.7M | $17.3M | ||
| Q1 25 | $153.2M | $-17.3M | ||
| Q4 24 | $282.9M | $12.4M | ||
| Q3 24 | $122.3M | $15.5M | ||
| Q2 24 | $74.2M | $3.4M | ||
| Q1 24 | $14.8M | $-61.8M |
| Q4 25 | 70.3% | 6.9% | ||
| Q3 25 | 41.6% | 10.4% | ||
| Q2 25 | 45.6% | 9.3% | ||
| Q1 25 | 34.8% | -10.9% | ||
| Q4 24 | 111.5% | 7.5% | ||
| Q3 24 | 29.1% | 10.5% | ||
| Q2 24 | 17.0% | 2.3% | ||
| Q1 24 | 3.5% | -46.8% |
| Q4 25 | 26.9% | 5.6% | ||
| Q3 25 | 13.6% | 7.7% | ||
| Q2 25 | 9.2% | 5.6% | ||
| Q1 25 | 10.7% | 5.9% | ||
| Q4 24 | 24.2% | 4.2% | ||
| Q3 24 | 12.4% | 6.0% | ||
| Q2 24 | 13.9% | 5.7% | ||
| Q1 24 | 14.6% | 7.4% |
| Q4 25 | — | 4.70× | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
IRTC
| Commercial Payors | $111.7M | 53% |
| Centers For Medicare And Medicaid | $49.2M | 24% |
| Healthcare Institutions | $34.3M | 16% |
| Non Contracted Third Party Payors | $13.7M | 7% |
