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Side-by-side financial comparison of IHS Holding Ltd (IHS) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
PROCORE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($349.1M vs $254.0M, roughly 1.4× IHS Holding Ltd). On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $109.2M). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% 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.
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
IHS vs PCOR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $349.1M |
| Net Profit | — | $-37.6M |
| Gross Margin | 83.6% | 80.1% |
| Operating Margin | — | -12.3% |
| Net Margin | — | -10.8% |
| Revenue YoY | 0.1% | 15.6% |
| Net Profit YoY | — | 39.6% |
| EPS (diluted) | — | $-0.25 |
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 | $349.1M | ||
| Q3 25 | $455.1M | $338.9M | ||
| Q2 25 | $433.3M | $323.9M | ||
| Q1 25 | $439.6M | $310.6M | ||
| Q4 24 | $253.8M | $302.0M | ||
| Q3 24 | $420.3M | $295.9M | ||
| Q2 24 | $435.4M | $284.3M | ||
| Q1 24 | $417.7M | $269.4M |
| Q4 25 | — | $-37.6M | ||
| Q3 25 | $147.4M | $-9.1M | ||
| Q2 25 | $32.3M | $-21.1M | ||
| Q1 25 | $30.7M | $-33.0M | ||
| Q4 24 | — | $-62.3M | ||
| Q3 24 | $-205.7M | $-26.4M | ||
| Q2 24 | $-124.3M | $-6.3M | ||
| Q1 24 | $-1.6B | $-11.0M |
| Q4 25 | 83.6% | 80.1% | ||
| Q3 25 | 47.5% | 79.7% | ||
| Q2 25 | 51.3% | 79.1% | ||
| Q1 25 | 51.4% | 79.1% | ||
| Q4 24 | 72.1% | 81.2% | ||
| Q3 24 | 52.0% | 81.4% | ||
| Q2 24 | 52.5% | 83.1% | ||
| Q1 24 | 39.1% | 83.0% |
| Q4 25 | — | -12.3% | ||
| Q3 25 | 35.1% | -4.4% | ||
| Q2 25 | 33.8% | -9.3% | ||
| Q1 25 | 37.1% | -11.7% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | 29.9% | -12.3% | ||
| Q2 24 | 34.0% | -5.2% | ||
| Q1 24 | -1.7% | -7.0% |
| Q4 25 | — | -10.8% | ||
| Q3 25 | 32.4% | -2.7% | ||
| Q2 25 | 7.5% | -6.5% | ||
| Q1 25 | 7.0% | -10.6% | ||
| Q4 24 | — | -20.6% | ||
| Q3 24 | -48.9% | -8.9% | ||
| Q2 24 | -28.5% | -2.2% | ||
| Q1 24 | -372.8% | -4.1% |
| Q4 25 | — | $-0.25 | ||
| Q3 25 | $0.44 | $-0.06 | ||
| Q2 25 | $0.10 | $-0.14 | ||
| Q1 25 | $0.10 | $-0.22 | ||
| Q4 24 | — | $-0.42 | ||
| Q3 24 | $-0.61 | $-0.18 | ||
| Q2 24 | $-0.36 | $-0.04 | ||
| Q1 24 | $-4.67 | $-0.08 |
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 | $768.5M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | $1.3B |
| Total Assets | $4.5B | $2.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $768.5M | ||
| Q3 25 | $647.6M | $684.0M | ||
| Q2 25 | $531.8M | $620.9M | ||
| Q1 25 | $629.0M | $566.7M | ||
| Q4 24 | $578.0M | $775.4M | ||
| Q3 24 | $397.5M | $756.9M | ||
| Q2 24 | $445.7M | $735.4M | ||
| Q1 24 | $333.2M | $744.6M |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | — | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.5B | — |
| Q4 25 | $-89.8M | $1.3B | ||
| Q3 25 | $38.1M | $1.2B | ||
| Q2 25 | $-98.4M | $1.2B | ||
| Q1 25 | $-184.4M | $1.2B | ||
| Q4 24 | $-314.4M | $1.3B | ||
| Q3 24 | $-284.7M | $1.3B | ||
| Q2 24 | $-308.3M | $1.3B | ||
| Q1 24 | $-163.2M | $1.2B |
| Q4 25 | $4.5B | $2.2B | ||
| Q3 25 | $4.7B | $2.1B | ||
| Q2 25 | $4.5B | $2.0B | ||
| Q1 25 | $4.4B | $1.9B | ||
| Q4 24 | $4.2B | $2.1B | ||
| Q3 24 | $4.6B | $2.0B | ||
| Q2 24 | $4.5B | $2.0B | ||
| Q1 24 | $4.6B | $1.9B |
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $114.9M |
| Free Cash FlowOCF − Capex | $178.6M | $109.2M |
| FCF MarginFCF / Revenue | 70.3% | 31.3% |
| Capex IntensityCapex / Revenue | 26.9% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $114.9M | ||
| Q3 25 | $251.3M | $88.5M | ||
| Q2 25 | $237.7M | $30.8M | ||
| Q1 25 | $200.3M | $66.0M | ||
| Q4 24 | $344.4M | $29.1M | ||
| Q3 24 | $174.5M | $39.3M | ||
| Q2 24 | $134.7M | $58.7M | ||
| Q1 24 | $75.8M | $69.1M |
| Q4 25 | $178.6M | $109.2M | ||
| Q3 25 | $189.2M | $83.1M | ||
| Q2 25 | $197.7M | $27.9M | ||
| Q1 25 | $153.2M | $62.0M | ||
| Q4 24 | $282.9M | $17.4M | ||
| Q3 24 | $122.3M | $35.7M | ||
| Q2 24 | $74.2M | $56.8M | ||
| Q1 24 | $14.8M | $67.1M |
| Q4 25 | 70.3% | 31.3% | ||
| Q3 25 | 41.6% | 24.5% | ||
| Q2 25 | 45.6% | 8.6% | ||
| Q1 25 | 34.8% | 20.0% | ||
| Q4 24 | 111.5% | 5.8% | ||
| Q3 24 | 29.1% | 12.1% | ||
| Q2 24 | 17.0% | 20.0% | ||
| Q1 24 | 3.5% | 24.9% |
| Q4 25 | 26.9% | 1.6% | ||
| Q3 25 | 13.6% | 1.6% | ||
| Q2 25 | 9.2% | 0.9% | ||
| Q1 25 | 10.7% | 1.3% | ||
| Q4 24 | 24.2% | 3.9% | ||
| Q3 24 | 12.4% | 1.2% | ||
| Q2 24 | 13.9% | 0.7% | ||
| Q1 24 | 14.6% | 0.8% |
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
