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Side-by-side financial comparison of IHS Holding Ltd (IHS) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $254.0M, roughly 1.3× IHS Holding Ltd). On growth, IHS Holding Ltd posted the faster year-over-year revenue change (0.1% vs -7.0%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $-134.8M). Over the past eight quarters, IHS Holding Ltd's revenue compounded faster (-22.0% CAGR vs -26.8%).
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.
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
IHS vs NFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $326.2M |
| Net Profit | — | $-847.1M |
| Gross Margin | 83.6% | 35.5% |
| Operating Margin | — | -193.0% |
| Net Margin | — | -259.7% |
| Revenue YoY | 0.1% | -7.0% |
| Net Profit YoY | — | -277.4% |
| EPS (diluted) | — | $-3.03 |
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 | $326.2M | ||
| Q3 25 | $455.1M | $240.3M | ||
| Q2 25 | $433.3M | $228.1M | ||
| Q1 25 | $439.6M | $384.9M | ||
| Q4 24 | $253.8M | $350.7M | ||
| Q3 24 | $420.3M | $446.0M | ||
| Q2 24 | $435.4M | $291.2M | ||
| Q1 24 | $417.7M | $609.5M |
| Q4 25 | — | $-847.1M | ||
| Q3 25 | $147.4M | $-263.0M | ||
| Q2 25 | $32.3M | $-546.5M | ||
| Q1 25 | $30.7M | $-175.4M | ||
| Q4 24 | — | $-224.4M | ||
| Q3 24 | $-205.7M | $9.3M | ||
| Q2 24 | $-124.3M | $-88.9M | ||
| Q1 24 | $-1.6B | $54.1M |
| Q4 25 | 83.6% | 35.5% | ||
| Q3 25 | 47.5% | 18.1% | ||
| Q2 25 | 51.3% | 8.4% | ||
| Q1 25 | 51.4% | 21.4% | ||
| Q4 24 | 72.1% | 17.6% | ||
| Q3 24 | 52.0% | 27.1% | ||
| Q2 24 | 52.5% | 23.8% | ||
| Q1 24 | 39.1% | 62.4% |
| Q4 25 | — | -193.0% | ||
| Q3 25 | 35.1% | -37.4% | ||
| Q2 25 | 33.8% | -170.3% | ||
| Q1 25 | 37.1% | -3.3% | ||
| Q4 24 | — | 65.0% | ||
| Q3 24 | 29.9% | 17.8% | ||
| Q2 24 | 34.0% | 12.3% | ||
| Q1 24 | -1.7% | 30.4% |
| Q4 25 | — | -259.7% | ||
| Q3 25 | 32.4% | -109.4% | ||
| Q2 25 | 7.5% | -239.6% | ||
| Q1 25 | 7.0% | -45.6% | ||
| Q4 24 | — | -64.0% | ||
| Q3 24 | -48.9% | 2.1% | ||
| Q2 24 | -28.5% | -30.5% | ||
| Q1 24 | -372.8% | 8.9% |
| Q4 25 | — | $-3.03 | ||
| Q3 25 | $0.44 | $-0.96 | ||
| Q2 25 | $0.10 | $-1.99 | ||
| Q1 25 | $0.10 | $-0.65 | ||
| Q4 24 | — | $-1.10 | ||
| Q3 24 | $-0.61 | $0.03 | ||
| Q2 24 | $-0.36 | $-0.42 | ||
| Q1 24 | $-4.67 | $0.23 |
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 | $226.5M |
| Total DebtLower is stronger | $3.1B | $8.2B |
| Stockholders' EquityBook value | $-89.8M | $182.6M |
| Total Assets | $4.5B | $10.6B |
| Debt / EquityLower = less leverage | — | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $226.5M | ||
| Q3 25 | $647.6M | $145.2M | ||
| Q2 25 | $531.8M | $551.1M | ||
| Q1 25 | $629.0M | $447.9M | ||
| Q4 24 | $578.0M | $492.9M | ||
| Q3 24 | $397.5M | $90.8M | ||
| Q2 24 | $445.7M | $133.0M | ||
| Q1 24 | $333.2M | $143.5M |
| Q4 25 | $3.1B | $8.2B | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | $8.9B | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.5B | — |
| Q4 25 | $-89.8M | $182.6M | ||
| Q3 25 | $38.1M | $1.1B | ||
| Q2 25 | $-98.4M | $1.3B | ||
| Q1 25 | $-184.4M | $1.8B | ||
| Q4 24 | $-314.4M | $1.9B | ||
| Q3 24 | $-284.7M | $1.6B | ||
| Q2 24 | $-308.3M | $1.6B | ||
| Q1 24 | $-163.2M | $1.7B |
| Q4 25 | $4.5B | $10.6B | ||
| Q3 25 | $4.7B | $12.0B | ||
| Q2 25 | $4.5B | $12.0B | ||
| Q1 25 | $4.4B | $13.1B | ||
| Q4 24 | $4.2B | $12.9B | ||
| Q3 24 | $4.6B | $12.0B | ||
| Q2 24 | $4.5B | $11.4B | ||
| Q1 24 | $4.6B | $10.9B |
| Q4 25 | — | 44.78× | ||
| Q3 25 | 85.85× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.74× | ||
| 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 | $-76.2M |
| Free Cash FlowOCF − Capex | $178.6M | $-134.8M |
| FCF MarginFCF / Revenue | 70.3% | -41.3% |
| Capex IntensityCapex / Revenue | 26.9% | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $-76.2M | ||
| Q3 25 | $251.3M | $-171.0M | ||
| Q2 25 | $237.7M | $-329.0M | ||
| Q1 25 | $200.3M | $-7.2M | ||
| Q4 24 | $344.4M | $445.3M | ||
| Q3 24 | $174.5M | $-20.0M | ||
| Q2 24 | $134.7M | $113.9M | ||
| Q1 24 | $75.8M | $63.0M |
| Q4 25 | $178.6M | $-134.8M | ||
| Q3 25 | $189.2M | $-231.6M | ||
| Q2 25 | $197.7M | $-726.7M | ||
| Q1 25 | $153.2M | $-262.3M | ||
| Q4 24 | $282.9M | $-210.3M | ||
| Q3 24 | $122.3M | $-367.0M | ||
| Q2 24 | $74.2M | $-493.2M | ||
| Q1 24 | $14.8M | $-457.9M |
| Q4 25 | 70.3% | -41.3% | ||
| Q3 25 | 41.6% | -96.4% | ||
| Q2 25 | 45.6% | -318.6% | ||
| Q1 25 | 34.8% | -68.2% | ||
| Q4 24 | 111.5% | -60.0% | ||
| Q3 24 | 29.1% | -82.3% | ||
| Q2 24 | 17.0% | -169.3% | ||
| Q1 24 | 3.5% | -75.1% |
| Q4 25 | 26.9% | 18.0% | ||
| Q3 25 | 13.6% | 25.2% | ||
| Q2 25 | 9.2% | 174.4% | ||
| Q1 25 | 10.7% | 66.3% | ||
| Q4 24 | 24.2% | 187.0% | ||
| Q3 24 | 12.4% | 77.8% | ||
| Q2 24 | 13.9% | 208.4% | ||
| Q1 24 | 14.6% | 85.5% |
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -2.15× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
