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Side-by-side financial comparison of IHS Holding Ltd (IHS) and MASIMO CORP (MASI). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $254.0M, roughly 1.5× IHS Holding Ltd). On growth, IHS Holding Ltd posted the faster year-over-year revenue change (0.1% vs -26.4%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $50.9M). Over the past eight quarters, MASIMO CORP's revenue compounded faster (-17.7% 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.
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
IHS vs MASI — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $371.5M |
| Net Profit | — | $-100.4M |
| Gross Margin | 83.6% | 62.1% |
| Operating Margin | — | 22.5% |
| Net Margin | — | -27.0% |
| Revenue YoY | 0.1% | -26.4% |
| Net Profit YoY | — | -1124.5% |
| EPS (diluted) | — | $-1.84 |
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 | — | ||
| Q3 25 | $455.1M | $371.5M | ||
| Q2 25 | $433.3M | $370.9M | ||
| Q1 25 | $439.6M | $372.0M | ||
| Q4 24 | $253.8M | $600.7M | ||
| Q3 24 | $420.3M | $504.6M | ||
| Q2 24 | $435.4M | $496.3M | ||
| Q1 24 | $417.7M | $492.8M |
| Q4 25 | — | — | ||
| Q3 25 | $147.4M | $-100.4M | ||
| Q2 25 | $32.3M | $51.3M | ||
| Q1 25 | $30.7M | $-170.7M | ||
| Q4 24 | — | $-349.6M | ||
| Q3 24 | $-205.7M | $9.8M | ||
| Q2 24 | $-124.3M | $16.0M | ||
| Q1 24 | $-1.6B | $18.9M |
| Q4 25 | 83.6% | — | ||
| Q3 25 | 47.5% | 62.1% | ||
| Q2 25 | 51.3% | 62.9% | ||
| Q1 25 | 51.4% | 62.9% | ||
| Q4 24 | 72.1% | 40.7% | ||
| Q3 24 | 52.0% | 52.2% | ||
| Q2 24 | 52.5% | 51.3% | ||
| Q1 24 | 39.1% | 49.0% |
| Q4 25 | — | — | ||
| Q3 25 | 35.1% | 22.5% | ||
| Q2 25 | 33.8% | 17.4% | ||
| Q1 25 | 37.1% | 21.0% | ||
| Q4 24 | — | -59.8% | ||
| Q3 24 | 29.9% | 6.0% | ||
| Q2 24 | 34.0% | 5.7% | ||
| Q1 24 | -1.7% | 6.9% |
| Q4 25 | — | — | ||
| Q3 25 | 32.4% | -27.0% | ||
| Q2 25 | 7.5% | 13.8% | ||
| Q1 25 | 7.0% | -45.9% | ||
| Q4 24 | — | -58.2% | ||
| Q3 24 | -48.9% | 1.9% | ||
| Q2 24 | -28.5% | 3.2% | ||
| Q1 24 | -372.8% | 3.8% |
| Q4 25 | — | — | ||
| Q3 25 | $0.44 | $-1.84 | ||
| Q2 25 | $0.10 | $0.94 | ||
| Q1 25 | $0.10 | $-3.12 | ||
| Q4 24 | — | $-6.54 | ||
| Q3 24 | $-0.61 | $0.18 | ||
| Q2 24 | $-0.36 | $0.29 | ||
| Q1 24 | $-4.67 | $0.35 |
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 | $312.3M |
| Total DebtLower is stronger | $3.1B | $559.1M |
| Stockholders' EquityBook value | $-89.8M | $810.0M |
| Total Assets | $4.5B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | — | ||
| Q3 25 | $647.6M | $312.3M | ||
| Q2 25 | $531.8M | $149.6M | ||
| Q1 25 | $629.0M | $130.8M | ||
| Q4 24 | $578.0M | $177.6M | ||
| Q3 24 | $397.5M | $158.5M | ||
| Q2 24 | $445.7M | $129.6M | ||
| Q1 24 | $333.2M | $157.6M |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.3B | $559.1M | ||
| Q2 25 | $3.2B | $613.7M | ||
| Q1 25 | $3.4B | $651.0M | ||
| Q4 24 | $3.3B | $765.2M | ||
| Q3 24 | $3.5B | $772.6M | ||
| Q2 24 | $3.6B | $781.6M | ||
| Q1 24 | $3.5B | $876.0M |
| Q4 25 | $-89.8M | — | ||
| Q3 25 | $38.1M | $810.0M | ||
| Q2 25 | $-98.4M | $1.0B | ||
| Q1 25 | $-184.4M | $946.4M | ||
| Q4 24 | $-314.4M | $1.1B | ||
| Q3 24 | $-284.7M | $1.5B | ||
| Q2 24 | $-308.3M | $1.4B | ||
| Q1 24 | $-163.2M | $1.4B |
| Q4 25 | $4.5B | — | ||
| Q3 25 | $4.7B | $1.8B | ||
| Q2 25 | $4.5B | $2.4B | ||
| Q1 25 | $4.4B | $2.3B | ||
| Q4 24 | $4.2B | $2.6B | ||
| Q3 24 | $4.6B | $3.1B | ||
| Q2 24 | $4.5B | $2.9B | ||
| Q1 24 | $4.6B | $3.0B |
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | 0.69× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | — | 0.64× |
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 | $56.8M |
| Free Cash FlowOCF − Capex | $178.6M | $50.9M |
| FCF MarginFCF / Revenue | 70.3% | 13.7% |
| Capex IntensityCapex / Revenue | 26.9% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $191.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | — | ||
| Q3 25 | $251.3M | $56.8M | ||
| Q2 25 | $237.7M | $69.4M | ||
| Q1 25 | $200.3M | $31.1M | ||
| Q4 24 | $344.4M | $50.5M | ||
| Q3 24 | $174.5M | $25.6M | ||
| Q2 24 | $134.7M | $74.5M | ||
| Q1 24 | $75.8M | $45.8M |
| Q4 25 | $178.6M | — | ||
| Q3 25 | $189.2M | $50.9M | ||
| Q2 25 | $197.7M | $65.6M | ||
| Q1 25 | $153.2M | $28.5M | ||
| Q4 24 | $282.9M | $46.0M | ||
| Q3 24 | $122.3M | $16.9M | ||
| Q2 24 | $74.2M | $66.9M | ||
| Q1 24 | $14.8M | $37.6M |
| Q4 25 | 70.3% | — | ||
| Q3 25 | 41.6% | 13.7% | ||
| Q2 25 | 45.6% | 17.7% | ||
| Q1 25 | 34.8% | 7.7% | ||
| Q4 24 | 111.5% | 7.7% | ||
| Q3 24 | 29.1% | 3.3% | ||
| Q2 24 | 17.0% | 13.5% | ||
| Q1 24 | 3.5% | 7.6% |
| Q4 25 | 26.9% | — | ||
| Q3 25 | 13.6% | 1.6% | ||
| Q2 25 | 9.2% | 1.0% | ||
| Q1 25 | 10.7% | 0.7% | ||
| Q4 24 | 24.2% | 0.7% | ||
| Q3 24 | 12.4% | 1.7% | ||
| Q2 24 | 13.9% | 1.5% | ||
| Q1 24 | 14.6% | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | 1.35× | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.61× | ||
| Q2 24 | — | 4.66× | ||
| Q1 24 | — | 2.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
