vs
Side-by-side financial comparison of IHS Holding Ltd (IHS) and Limbach Holdings, Inc. (LMB). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $186.9M, roughly 1.4× Limbach Holdings, Inc.). On growth, Limbach Holdings, Inc. posted the faster year-over-year revenue change (30.1% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $27.9M). Over the past eight quarters, Limbach Holdings, Inc.'s revenue compounded faster (25.3% 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.
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
IHS vs LMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $186.9M |
| Net Profit | — | $12.3M |
| Gross Margin | 83.6% | 25.7% |
| Operating Margin | — | 9.4% |
| Net Margin | — | 6.6% |
| Revenue YoY | 0.1% | 30.1% |
| Net Profit YoY | — | 25.0% |
| EPS (diluted) | — | $1.01 |
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 | $186.9M | ||
| Q3 25 | $455.1M | $184.6M | ||
| Q2 25 | $433.3M | $142.2M | ||
| Q1 25 | $439.6M | $133.1M | ||
| Q4 24 | $253.8M | $143.7M | ||
| Q3 24 | $420.3M | $133.9M | ||
| Q2 24 | $435.4M | $122.2M | ||
| Q1 24 | $417.7M | $119.0M |
| Q4 25 | — | $12.3M | ||
| Q3 25 | $147.4M | $8.8M | ||
| Q2 25 | $32.3M | $7.8M | ||
| Q1 25 | $30.7M | $10.2M | ||
| Q4 24 | — | $9.8M | ||
| Q3 24 | $-205.7M | $7.5M | ||
| Q2 24 | $-124.3M | $6.0M | ||
| Q1 24 | $-1.6B | $7.6M |
| Q4 25 | 83.6% | 25.7% | ||
| Q3 25 | 47.5% | 24.2% | ||
| Q2 25 | 51.3% | 28.0% | ||
| Q1 25 | 51.4% | 27.6% | ||
| Q4 24 | 72.1% | 30.3% | ||
| Q3 24 | 52.0% | 27.0% | ||
| Q2 24 | 52.5% | 27.4% | ||
| Q1 24 | 39.1% | 26.1% |
| Q4 25 | — | 9.4% | ||
| Q3 25 | 35.1% | 7.2% | ||
| Q2 25 | 33.8% | 7.5% | ||
| Q1 25 | 37.1% | 5.9% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | 29.9% | 8.1% | ||
| Q2 24 | 34.0% | 6.7% | ||
| Q1 24 | -1.7% | 5.5% |
| Q4 25 | — | 6.6% | ||
| Q3 25 | 32.4% | 4.8% | ||
| Q2 25 | 7.5% | 5.5% | ||
| Q1 25 | 7.0% | 7.7% | ||
| Q4 24 | — | 6.9% | ||
| Q3 24 | -48.9% | 5.6% | ||
| Q2 24 | -28.5% | 4.9% | ||
| Q1 24 | -372.8% | 6.4% |
| Q4 25 | — | $1.01 | ||
| Q3 25 | $0.44 | $0.73 | ||
| Q2 25 | $0.10 | $0.64 | ||
| Q1 25 | $0.10 | $0.85 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | $-0.61 | $0.62 | ||
| Q2 24 | $-0.36 | $0.50 | ||
| Q1 24 | $-4.67 | $0.64 |
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 | $11.3M |
| Total DebtLower is stronger | $3.1B | $30.5M |
| Stockholders' EquityBook value | $-89.8M | $195.7M |
| Total Assets | $4.5B | $381.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $11.3M | ||
| Q3 25 | $647.6M | $9.8M | ||
| Q2 25 | $531.8M | $38.9M | ||
| Q1 25 | $629.0M | $38.1M | ||
| Q4 24 | $578.0M | $44.9M | ||
| Q3 24 | $397.5M | $51.2M | ||
| Q2 24 | $445.7M | $59.5M | ||
| Q1 24 | $333.2M | $48.2M |
| Q4 25 | $3.1B | $30.5M | ||
| Q3 25 | $3.3B | $56.3M | ||
| Q2 25 | $3.2B | $28.4M | ||
| Q1 25 | $3.4B | $23.7M | ||
| Q4 24 | $3.3B | $23.6M | ||
| Q3 24 | $3.5B | $20.5M | ||
| Q2 24 | $3.6B | $19.7M | ||
| Q1 24 | $3.5B | $19.4M |
| Q4 25 | $-89.8M | $195.7M | ||
| Q3 25 | $38.1M | $181.6M | ||
| Q2 25 | $-98.4M | $170.5M | ||
| Q1 25 | $-184.4M | $161.1M | ||
| Q4 24 | $-314.4M | $153.5M | ||
| Q3 24 | $-284.7M | $142.2M | ||
| Q2 24 | $-308.3M | $133.0M | ||
| Q1 24 | $-163.2M | $125.5M |
| Q4 25 | $4.5B | $381.1M | ||
| Q3 25 | $4.7B | $409.1M | ||
| Q2 25 | $4.5B | $343.0M | ||
| Q1 25 | $4.4B | $336.4M | ||
| Q4 24 | $4.2B | $352.1M | ||
| Q3 24 | $4.6B | $324.4M | ||
| Q2 24 | $4.5B | $303.9M | ||
| Q1 24 | $4.6B | $289.2M |
| Q4 25 | — | 0.16× | ||
| Q3 25 | 85.85× | 0.31× | ||
| Q2 25 | — | 0.17× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $28.1M |
| Free Cash FlowOCF − Capex | $178.6M | $27.9M |
| FCF MarginFCF / Revenue | 70.3% | 14.9% |
| Capex IntensityCapex / Revenue | 26.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 2.29× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $28.1M | ||
| Q3 25 | $251.3M | $13.3M | ||
| Q2 25 | $237.7M | $2.0M | ||
| Q1 25 | $200.3M | $2.2M | ||
| Q4 24 | $344.4M | $19.3M | ||
| Q3 24 | $174.5M | $4.9M | ||
| Q2 24 | $134.7M | $16.5M | ||
| Q1 24 | $75.8M | $-3.9M |
| Q4 25 | $178.6M | $27.9M | ||
| Q3 25 | $189.2M | $12.8M | ||
| Q2 25 | $197.7M | $1.2M | ||
| Q1 25 | $153.2M | $11.0K | ||
| Q4 24 | $282.9M | $18.0M | ||
| Q3 24 | $122.3M | $4.6M | ||
| Q2 24 | $74.2M | $13.2M | ||
| Q1 24 | $14.8M | $-6.5M |
| Q4 25 | 70.3% | 14.9% | ||
| Q3 25 | 41.6% | 7.0% | ||
| Q2 25 | 45.6% | 0.8% | ||
| Q1 25 | 34.8% | 0.0% | ||
| Q4 24 | 111.5% | 12.5% | ||
| Q3 24 | 29.1% | 3.4% | ||
| Q2 24 | 17.0% | 10.8% | ||
| Q1 24 | 3.5% | -5.5% |
| Q4 25 | 26.9% | 0.1% | ||
| Q3 25 | 13.6% | 0.3% | ||
| Q2 25 | 9.2% | 0.6% | ||
| Q1 25 | 10.7% | 1.7% | ||
| Q4 24 | 24.2% | 0.9% | ||
| Q3 24 | 12.4% | 0.3% | ||
| Q2 24 | 13.9% | 2.7% | ||
| Q1 24 | 14.6% | 2.1% |
| Q4 25 | — | 2.29× | ||
| Q3 25 | 1.70× | 1.52× | ||
| Q2 25 | 7.36× | 0.26× | ||
| Q1 25 | 6.52× | 0.22× | ||
| Q4 24 | — | 1.96× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 2.77× | ||
| Q1 24 | — | -0.52× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
LMB
| Owner Direct Relationships Segment | $145.0M | 78% |
| General Contractor Construction Manager Relationships Segment | $41.9M | 22% |
