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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $142.9M, roughly 1.8× Piedmont Realty Trust, Inc.). On growth, IHS Holding Ltd posted the faster year-over-year revenue change (0.1% vs -0.3%). Over the past eight quarters, Piedmont Realty Trust, Inc.'s revenue compounded faster (-0.6% 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.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
IHS vs PDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $142.9M |
| Net Profit | — | $-43.2M |
| Gross Margin | 83.6% | — |
| Operating Margin | — | — |
| Net Margin | — | -30.3% |
| Revenue YoY | 0.1% | -0.3% |
| Net Profit YoY | — | -44.3% |
| EPS (diluted) | — | $-0.34 |
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 | $142.9M | ||
| Q3 25 | $455.1M | $139.2M | ||
| Q2 25 | $433.3M | $140.3M | ||
| Q1 25 | $439.6M | $142.7M | ||
| Q4 24 | $253.8M | $143.2M | ||
| Q3 24 | $420.3M | $139.3M | ||
| Q2 24 | $435.4M | $143.3M | ||
| Q1 24 | $417.7M | $144.5M |
| Q4 25 | — | $-43.2M | ||
| Q3 25 | $147.4M | $-13.5M | ||
| Q2 25 | $32.3M | $-16.8M | ||
| Q1 25 | $30.7M | $-10.1M | ||
| Q4 24 | — | $-30.0M | ||
| Q3 24 | $-205.7M | $-11.5M | ||
| Q2 24 | $-124.3M | $-9.8M | ||
| Q1 24 | $-1.6B | $-27.8M |
| 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 | — | — | ||
| Q3 25 | 35.1% | — | ||
| Q2 25 | 33.8% | — | ||
| Q1 25 | 37.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 29.9% | — | ||
| Q2 24 | 34.0% | — | ||
| Q1 24 | -1.7% | — |
| Q4 25 | — | -30.3% | ||
| Q3 25 | 32.4% | -9.7% | ||
| Q2 25 | 7.5% | -12.0% | ||
| Q1 25 | 7.0% | -7.1% | ||
| Q4 24 | — | -20.9% | ||
| Q3 24 | -48.9% | -8.3% | ||
| Q2 24 | -28.5% | -6.8% | ||
| Q1 24 | -372.8% | -19.2% |
| Q4 25 | — | $-0.34 | ||
| Q3 25 | $0.44 | $-0.11 | ||
| Q2 25 | $0.10 | $-0.14 | ||
| Q1 25 | $0.10 | $-0.08 | ||
| Q4 24 | — | $-0.25 | ||
| Q3 24 | $-0.61 | $-0.09 | ||
| Q2 24 | $-0.36 | $-0.08 | ||
| Q1 24 | $-4.67 | $-0.22 |
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 | $731.0K |
| Total DebtLower is stronger | $3.1B | $2.2B |
| Stockholders' EquityBook value | $-89.8M | $1.5B |
| Total Assets | $4.5B | $4.0B |
| Debt / EquityLower = less leverage | — | 1.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $731.0K | ||
| Q3 25 | $647.6M | $3.0M | ||
| Q2 25 | $531.8M | $3.3M | ||
| Q1 25 | $629.0M | $2.9M | ||
| Q4 24 | $578.0M | $109.6M | ||
| Q3 24 | $397.5M | $133.6M | ||
| Q2 24 | $445.7M | $138.5M | ||
| Q1 24 | $333.2M | $3.5M |
| Q4 25 | $3.1B | $2.2B | ||
| Q3 25 | $3.3B | $2.2B | ||
| Q2 25 | $3.2B | $2.2B | ||
| Q1 25 | $3.4B | $2.2B | ||
| Q4 24 | $3.3B | $2.2B | ||
| Q3 24 | $3.5B | $2.2B | ||
| Q2 24 | $3.6B | $2.2B | ||
| Q1 24 | $3.5B | $2.1B |
| Q4 25 | $-89.8M | $1.5B | ||
| Q3 25 | $38.1M | $1.5B | ||
| Q2 25 | $-98.4M | $1.5B | ||
| Q1 25 | $-184.4M | $1.6B | ||
| Q4 24 | $-314.4M | $1.6B | ||
| Q3 24 | $-284.7M | $1.6B | ||
| Q2 24 | $-308.3M | $1.7B | ||
| Q1 24 | $-163.2M | $1.7B |
| Q4 25 | $4.5B | $4.0B | ||
| Q3 25 | $4.7B | $4.0B | ||
| Q2 25 | $4.5B | $4.0B | ||
| Q1 25 | $4.4B | $4.0B | ||
| Q4 24 | $4.2B | $4.1B | ||
| Q3 24 | $4.6B | $4.1B | ||
| Q2 24 | $4.5B | $4.2B | ||
| Q1 24 | $4.6B | $4.0B |
| Q4 25 | — | 1.49× | ||
| Q3 25 | 85.85× | 1.43× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.40× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.36× | ||
| Q2 24 | — | 1.34× | ||
| Q1 24 | — | 1.23× |
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 | $140.6M |
| Free Cash FlowOCF − Capex | $178.6M | — |
| FCF MarginFCF / Revenue | 70.3% | — |
| Capex IntensityCapex / Revenue | 26.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $140.6M | ||
| Q3 25 | $251.3M | $35.8M | ||
| Q2 25 | $237.7M | $50.1M | ||
| Q1 25 | $200.3M | $3.7M | ||
| Q4 24 | $344.4M | $198.1M | ||
| Q3 24 | $174.5M | $42.9M | ||
| Q2 24 | $134.7M | $66.8M | ||
| Q1 24 | $75.8M | $23.4M |
| 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 | — | — | ||
| 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.
PDM
| Atlanta GA | $45.7M | 32% |
| Dallas TX | $24.1M | 17% |
| Orlando FL | $19.3M | 13% |
| New York NY | $14.7M | 10% |
| Northern Virginia Washington D.C. | $12.9M | 9% |
| Minneapolis MN | $11.4M | 8% |
| Boston MA | $9.8M | 7% |
| Real Estate Other | $7.8M | 5% |
