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Side-by-side financial comparison of IHS Holding Ltd (IHS) and PHOTRONICS INC (PLAB). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $210.4M, roughly 1.2× PHOTRONICS INC). On growth, IHS Holding Ltd posted the faster year-over-year revenue change (0.1% vs -5.5%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $25.2M). Over the past eight quarters, PHOTRONICS INC's revenue compounded faster (-3.8% 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.
Photronics, Inc. is an American semiconductor photomask manufacturer. It was the third largest photomask supplier globally as of 2009. Photronics is a member of the eBeam Initiative.
IHS vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $210.4M |
| Net Profit | — | $22.9M |
| Gross Margin | 83.6% | 33.7% |
| Operating Margin | — | 22.9% |
| Net Margin | — | 10.9% |
| Revenue YoY | 0.1% | -5.5% |
| Net Profit YoY | — | -32.4% |
| EPS (diluted) | — | $0.39 |
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 | $210.4M | ||
| Q2 25 | $433.3M | $211.0M | ||
| Q1 25 | $439.6M | $212.1M | ||
| Q4 24 | $253.8M | $222.6M | ||
| Q3 24 | $420.3M | $211.0M | ||
| Q2 24 | $435.4M | $217.0M | ||
| Q1 24 | $417.7M | $216.3M |
| Q4 25 | — | — | ||
| Q3 25 | $147.4M | $22.9M | ||
| Q2 25 | $32.3M | $8.9M | ||
| Q1 25 | $30.7M | $42.9M | ||
| Q4 24 | — | $33.9M | ||
| Q3 24 | $-205.7M | $34.4M | ||
| Q2 24 | $-124.3M | $36.3M | ||
| Q1 24 | $-1.6B | $26.2M |
| Q4 25 | 83.6% | — | ||
| Q3 25 | 47.5% | 33.7% | ||
| Q2 25 | 51.3% | 36.9% | ||
| Q1 25 | 51.4% | 35.6% | ||
| Q4 24 | 72.1% | 37.0% | ||
| Q3 24 | 52.0% | 35.6% | ||
| Q2 24 | 52.5% | 36.5% | ||
| Q1 24 | 39.1% | 36.6% |
| Q4 25 | — | — | ||
| Q3 25 | 35.1% | 22.9% | ||
| Q2 25 | 33.8% | 26.4% | ||
| Q1 25 | 37.1% | 24.6% | ||
| Q4 24 | — | 25.1% | ||
| Q3 24 | 29.9% | 24.7% | ||
| Q2 24 | 34.0% | 25.8% | ||
| Q1 24 | -1.7% | 26.6% |
| Q4 25 | — | — | ||
| Q3 25 | 32.4% | 10.9% | ||
| Q2 25 | 7.5% | 4.2% | ||
| Q1 25 | 7.0% | 20.2% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | -48.9% | 16.3% | ||
| Q2 24 | -28.5% | 16.7% | ||
| Q1 24 | -372.8% | 12.1% |
| Q4 25 | — | — | ||
| Q3 25 | $0.44 | $0.39 | ||
| Q2 25 | $0.10 | $0.15 | ||
| Q1 25 | $0.10 | $0.68 | ||
| Q4 24 | — | $0.54 | ||
| Q3 24 | $-0.61 | $0.55 | ||
| Q2 24 | $-0.36 | $0.58 | ||
| Q1 24 | $-4.67 | $0.42 |
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 | $575.8M |
| Total DebtLower is stronger | $3.1B | $16.0K |
| Stockholders' EquityBook value | $-89.8M | $1.1B |
| Total Assets | $4.5B | $1.8B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | — | ||
| Q3 25 | $647.6M | $575.8M | ||
| Q2 25 | $531.8M | $558.4M | ||
| Q1 25 | $629.0M | $642.2M | ||
| Q4 24 | $578.0M | $640.7M | ||
| Q3 24 | $397.5M | $606.4M | ||
| Q2 24 | $445.7M | $559.9M | ||
| Q1 24 | $333.2M | $521.5M |
| Q4 25 | $3.1B | — | ||
| Q3 25 | $3.3B | $16.0K | ||
| Q2 25 | $3.2B | $19.0K | ||
| Q1 25 | $3.4B | $21.0K | ||
| Q4 24 | $3.3B | $25.0K | ||
| Q3 24 | $3.5B | $28.0K | ||
| Q2 24 | $3.6B | $2.5M | ||
| Q1 24 | $3.5B | $2.7M |
| Q4 25 | $-89.8M | — | ||
| Q3 25 | $38.1M | $1.1B | ||
| Q2 25 | $-98.4M | $1.1B | ||
| Q1 25 | $-184.4M | $1.1B | ||
| Q4 24 | $-314.4M | $1.1B | ||
| Q3 24 | $-284.7M | $1.1B | ||
| Q2 24 | $-308.3M | $1.0B | ||
| Q1 24 | $-163.2M | $1.0B |
| Q4 25 | $4.5B | — | ||
| Q3 25 | $4.7B | $1.8B | ||
| Q2 25 | $4.5B | $1.7B | ||
| Q1 25 | $4.4B | $1.7B | ||
| Q4 24 | $4.2B | $1.7B | ||
| Q3 24 | $4.6B | $1.6B | ||
| Q2 24 | $4.5B | $1.6B | ||
| Q1 24 | $4.6B | $1.6B |
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $50.1M |
| Free Cash FlowOCF − Capex | $178.6M | $25.2M |
| FCF MarginFCF / Revenue | 70.3% | 12.0% |
| Capex IntensityCapex / Revenue | 26.9% | 11.8% |
| Cash ConversionOCF / Net Profit | — | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | — | ||
| Q3 25 | $251.3M | $50.1M | ||
| Q2 25 | $237.7M | $31.5M | ||
| Q1 25 | $200.3M | $78.5M | ||
| Q4 24 | $344.4M | $68.4M | ||
| Q3 24 | $174.5M | $75.1M | ||
| Q2 24 | $134.7M | $76.5M | ||
| Q1 24 | $75.8M | $41.5M |
| Q4 25 | $178.6M | — | ||
| Q3 25 | $189.2M | $25.2M | ||
| Q2 25 | $197.7M | $-29.1M | ||
| Q1 25 | $153.2M | $43.3M | ||
| Q4 24 | $282.9M | $25.2M | ||
| Q3 24 | $122.3M | $50.7M | ||
| Q2 24 | $74.2M | $56.5M | ||
| Q1 24 | $14.8M | $-1.8M |
| Q4 25 | 70.3% | — | ||
| Q3 25 | 41.6% | 12.0% | ||
| Q2 25 | 45.6% | -13.8% | ||
| Q1 25 | 34.8% | 20.4% | ||
| Q4 24 | 111.5% | 11.3% | ||
| Q3 24 | 29.1% | 24.0% | ||
| Q2 24 | 17.0% | 26.0% | ||
| Q1 24 | 3.5% | -0.8% |
| Q4 25 | 26.9% | — | ||
| Q3 25 | 13.6% | 11.8% | ||
| Q2 25 | 9.2% | 28.7% | ||
| Q1 25 | 10.7% | 16.6% | ||
| Q4 24 | 24.2% | 19.4% | ||
| Q3 24 | 12.4% | 11.6% | ||
| Q2 24 | 13.9% | 9.2% | ||
| Q1 24 | 14.6% | 20.0% |
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | 2.19× | ||
| Q2 25 | 7.36× | 3.55× | ||
| Q1 25 | 6.52× | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | — | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
