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Side-by-side financial comparison of IHS Holding Ltd (IHS) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $242.1M, roughly 1.0× ONESPAWORLD HOLDINGS Ltd). On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $14.9M). Over the past eight quarters, ONESPAWORLD HOLDINGS Ltd's revenue compounded faster (7.1% 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 OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $242.1M |
| Net Profit | — | $12.1M |
| Gross Margin | 83.6% | — |
| Operating Margin | — | 6.8% |
| Net Margin | — | 5.0% |
| Revenue YoY | 0.1% | 11.5% |
| Net Profit YoY | — | -16.2% |
| EPS (diluted) | — | $0.12 |
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 | $242.1M | ||
| Q3 25 | $455.1M | $258.5M | ||
| Q2 25 | $433.3M | $240.7M | ||
| Q1 25 | $439.6M | $219.6M | ||
| Q4 24 | $253.8M | $217.2M | ||
| Q3 24 | $420.3M | $241.7M | ||
| Q2 24 | $435.4M | $224.9M | ||
| Q1 24 | $417.7M | $211.2M |
| Q4 25 | — | $12.1M | ||
| Q3 25 | $147.4M | $24.3M | ||
| Q2 25 | $32.3M | $19.9M | ||
| Q1 25 | $30.7M | $15.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $-205.7M | $21.6M | ||
| Q2 24 | $-124.3M | $15.8M | ||
| Q1 24 | $-1.6B | $21.2M |
| Q4 25 | 83.6% | — | ||
| Q3 25 | 47.5% | — | ||
| Q2 25 | 51.3% | — | ||
| Q1 25 | 51.4% | — | ||
| Q4 24 | 72.1% | — | ||
| Q3 24 | 52.0% | — | ||
| Q2 24 | 52.5% | — | ||
| Q1 24 | 39.1% | — |
| Q4 25 | — | 6.8% | ||
| Q3 25 | 35.1% | 10.2% | ||
| Q2 25 | 33.8% | 9.2% | ||
| Q1 25 | 37.1% | 7.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 29.9% | 10.3% | ||
| Q2 24 | 34.0% | 8.4% | ||
| Q1 24 | -1.7% | 8.0% |
| Q4 25 | — | 5.0% | ||
| Q3 25 | 32.4% | 9.4% | ||
| Q2 25 | 7.5% | 8.3% | ||
| Q1 25 | 7.0% | 7.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | -48.9% | 8.9% | ||
| Q2 24 | -28.5% | 7.0% | ||
| Q1 24 | -372.8% | 10.0% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | $0.44 | $0.23 | ||
| Q2 25 | $0.10 | $0.19 | ||
| Q1 25 | $0.10 | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | $-0.61 | $0.20 | ||
| Q2 24 | $-0.36 | $0.15 | ||
| Q1 24 | $-4.67 | $0.21 |
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 | $16.3M |
| Total DebtLower is stronger | $3.1B | $84.0M |
| Stockholders' EquityBook value | $-89.8M | $542.6M |
| Total Assets | $4.5B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $16.3M | ||
| Q3 25 | $647.6M | $29.6M | ||
| Q2 25 | $531.8M | $35.0M | ||
| Q1 25 | $629.0M | $22.6M | ||
| Q4 24 | $578.0M | $57.4M | ||
| Q3 24 | $397.5M | $48.8M | ||
| Q2 24 | $445.7M | $62.5M | ||
| Q1 24 | $333.2M | $65.4M |
| Q4 25 | $3.1B | $84.0M | ||
| Q3 25 | $3.3B | $85.2M | ||
| Q2 25 | $3.2B | $96.2M | ||
| Q1 25 | $3.4B | $97.4M | ||
| Q4 24 | $3.3B | $98.6M | ||
| Q3 24 | $3.5B | $98.7M | ||
| Q2 24 | $3.6B | $123.8M | ||
| Q1 24 | $3.5B | $138.6M |
| Q4 25 | $-89.8M | $542.6M | ||
| Q3 25 | $38.1M | $552.8M | ||
| Q2 25 | $-98.4M | $548.3M | ||
| Q1 25 | $-184.4M | $530.6M | ||
| Q4 24 | $-314.4M | $554.5M | ||
| Q3 24 | $-284.7M | $540.1M | ||
| Q2 24 | $-308.3M | $532.7M | ||
| Q1 24 | $-163.2M | $515.5M |
| Q4 25 | $4.5B | $707.1M | ||
| Q3 25 | $4.7B | $732.6M | ||
| Q2 25 | $4.5B | $731.8M | ||
| Q1 25 | $4.4B | $708.7M | ||
| Q4 24 | $4.2B | $746.4M | ||
| Q3 24 | $4.6B | $734.0M | ||
| Q2 24 | $4.5B | $756.8M | ||
| Q1 24 | $4.6B | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | 85.85× | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $20.0M |
| Free Cash FlowOCF − Capex | $178.6M | $14.9M |
| FCF MarginFCF / Revenue | 70.3% | 6.2% |
| Capex IntensityCapex / Revenue | 26.9% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $20.0M | ||
| Q3 25 | $251.3M | $33.2M | ||
| Q2 25 | $237.7M | $20.3M | ||
| Q1 25 | $200.3M | $10.1M | ||
| Q4 24 | $344.4M | $16.6M | ||
| Q3 24 | $174.5M | $28.6M | ||
| Q2 24 | $134.7M | $18.7M | ||
| Q1 24 | $75.8M | $15.0M |
| Q4 25 | $178.6M | $14.9M | ||
| Q3 25 | $189.2M | $27.6M | ||
| Q2 25 | $197.7M | $17.6M | ||
| Q1 25 | $153.2M | $8.4M | ||
| Q4 24 | $282.9M | $13.2M | ||
| Q3 24 | $122.3M | $27.5M | ||
| Q2 24 | $74.2M | $17.6M | ||
| Q1 24 | $14.8M | $13.7M |
| Q4 25 | 70.3% | 6.2% | ||
| Q3 25 | 41.6% | 10.7% | ||
| Q2 25 | 45.6% | 7.3% | ||
| Q1 25 | 34.8% | 3.8% | ||
| Q4 24 | 111.5% | 6.1% | ||
| Q3 24 | 29.1% | 11.4% | ||
| Q2 24 | 17.0% | 7.8% | ||
| Q1 24 | 3.5% | 6.5% |
| Q4 25 | 26.9% | 2.1% | ||
| Q3 25 | 13.6% | 2.2% | ||
| Q2 25 | 9.2% | 1.1% | ||
| Q1 25 | 10.7% | 0.8% | ||
| Q4 24 | 24.2% | 1.5% | ||
| Q3 24 | 12.4% | 0.5% | ||
| Q2 24 | 13.9% | 0.5% | ||
| Q1 24 | 14.6% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | 1.70× | 1.36× | ||
| Q2 25 | 7.36× | 1.02× | ||
| Q1 25 | 6.52× | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
