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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Loar Holdings Inc. (LOAR). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $131.8M, roughly 1.9× Loar Holdings Inc.). On growth, Loar Holdings Inc. posted the faster year-over-year revenue change (19.3% vs 0.1%). Over the past eight quarters, Loar Holdings Inc.'s revenue compounded faster (19.8% 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.
IHS vs LOAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $131.8M |
| Net Profit | — | $12.5M |
| Gross Margin | 83.6% | 52.1% |
| Operating Margin | — | 18.0% |
| Net Margin | — | 9.5% |
| Revenue YoY | 0.1% | 19.3% |
| Net Profit YoY | — | 239.5% |
| EPS (diluted) | — | $0.13 |
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 | $131.8M | ||
| Q3 25 | $455.1M | $126.8M | ||
| Q2 25 | $433.3M | $123.1M | ||
| Q1 25 | $439.6M | $114.7M | ||
| Q4 24 | $253.8M | $110.4M | ||
| Q3 24 | $420.3M | $103.5M | ||
| Q2 24 | $435.4M | $97.0M | ||
| Q1 24 | $417.7M | $91.8M |
| Q4 25 | — | $12.5M | ||
| Q3 25 | $147.4M | $27.6M | ||
| Q2 25 | $32.3M | $16.7M | ||
| Q1 25 | $30.7M | $15.3M | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $-205.7M | $8.7M | ||
| Q2 24 | $-124.3M | $7.6M | ||
| Q1 24 | $-1.6B | $2.2M |
| Q4 25 | 83.6% | 52.1% | ||
| Q3 25 | 47.5% | 52.7% | ||
| Q2 25 | 51.3% | 53.8% | ||
| Q1 25 | 51.4% | 52.1% | ||
| Q4 24 | 72.1% | 48.9% | ||
| Q3 24 | 52.0% | 51.1% | ||
| Q2 24 | 52.5% | 49.0% | ||
| Q1 24 | 39.1% | 48.4% |
| Q4 25 | — | 18.0% | ||
| Q3 25 | 35.1% | 22.9% | ||
| Q2 25 | 33.8% | 22.2% | ||
| Q1 25 | 37.1% | 22.8% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | 29.9% | 22.1% | ||
| Q2 24 | 34.0% | 22.9% | ||
| Q1 24 | -1.7% | 23.3% |
| Q4 25 | — | 9.5% | ||
| Q3 25 | 32.4% | 21.8% | ||
| Q2 25 | 7.5% | 13.6% | ||
| Q1 25 | 7.0% | 13.4% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | -48.9% | 8.4% | ||
| Q2 24 | -28.5% | 7.9% | ||
| Q1 24 | -372.8% | 2.4% |
| Q4 25 | — | $0.13 | ||
| Q3 25 | $0.44 | $0.29 | ||
| Q2 25 | $0.10 | $0.17 | ||
| Q1 25 | $0.10 | $0.16 | ||
| Q4 24 | — | $-11023.48 | ||
| Q3 24 | $-0.61 | $0.09 | ||
| Q2 24 | $-0.36 | $0.09 | ||
| Q1 24 | $-4.67 | $11023.54 |
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 | $84.8M |
| Total DebtLower is stronger | $3.1B | $715.7M |
| Stockholders' EquityBook value | $-89.8M | $1.2B |
| Total Assets | $4.5B | $2.0B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $84.8M | ||
| Q3 25 | $647.6M | $99.0M | ||
| Q2 25 | $531.8M | $103.3M | ||
| Q1 25 | $629.0M | $80.5M | ||
| Q4 24 | $578.0M | $54.1M | ||
| Q3 24 | $397.5M | $55.2M | ||
| Q2 24 | $445.7M | $73.2M | ||
| Q1 24 | $333.2M | $28.2M |
| Q4 25 | $3.1B | $715.7M | ||
| Q3 25 | $3.3B | $279.4M | ||
| Q2 25 | $3.2B | $277.7M | ||
| Q1 25 | $3.4B | $277.5M | ||
| Q4 24 | $3.3B | $277.3M | ||
| Q3 24 | $3.5B | $602.1M | ||
| Q2 24 | $3.6B | $250.7M | ||
| Q1 24 | $3.5B | $534.2M |
| Q4 25 | $-89.8M | $1.2B | ||
| Q3 25 | $38.1M | $1.2B | ||
| Q2 25 | $-98.4M | $1.1B | ||
| Q1 25 | $-184.4M | $1.1B | ||
| Q4 24 | $-314.4M | $1.1B | ||
| Q3 24 | $-284.7M | $769.8M | ||
| Q2 24 | $-308.3M | $758.4M | ||
| Q1 24 | $-163.2M | $420.6M |
| Q4 25 | $4.5B | $2.0B | ||
| Q3 25 | $4.7B | $1.5B | ||
| Q2 25 | $4.5B | $1.5B | ||
| Q1 25 | $4.4B | $1.5B | ||
| Q4 24 | $4.2B | $1.5B | ||
| Q3 24 | $4.6B | $1.5B | ||
| Q2 24 | $4.5B | $1.1B | ||
| Q1 24 | $4.6B | $1.1B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | 85.85× | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | — | 1.27× |
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 | $30.4M |
| Free Cash FlowOCF − Capex | $178.6M | — |
| FCF MarginFCF / Revenue | 70.3% | — |
| Capex IntensityCapex / Revenue | 26.9% | — |
| Cash ConversionOCF / Net Profit | — | 2.43× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $30.4M | ||
| Q3 25 | $251.3M | $29.7M | ||
| Q2 25 | $237.7M | $23.8M | ||
| Q1 25 | $200.3M | $28.4M | ||
| Q4 24 | $344.4M | $20.7M | ||
| Q3 24 | $174.5M | $16.3M | ||
| Q2 24 | $134.7M | $7.1M | ||
| Q1 24 | $75.8M | $10.8M |
| 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 24 | $14.8M | — |
| 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 24 | 3.5% | — |
| 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 24 | 14.6% | — |
| Q4 25 | — | 2.43× | ||
| Q3 25 | 1.70× | 1.08× | ||
| Q2 25 | 7.36× | 1.42× | ||
| Q1 25 | 6.52× | 1.85× | ||
| Q4 24 | — | 5.62× | ||
| Q3 24 | — | 1.89× | ||
| Q2 24 | — | 0.93× | ||
| Q1 24 | — | 4.81× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
LOAR
| Other | $76.8M | 58% |
| Commercial Aerospace | $21.2M | 16% |
| Business Jet And General Aviation | $17.6M | 13% |
| Defense | $16.2M | 12% |
