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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
Skyward Specialty Insurance Group, Inc. is the larger business by last-quarter revenue ($385.6M vs $254.0M, roughly 1.5× IHS Holding Ltd). On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 0.1%). Skyward Specialty Insurance Group, Inc. produced more free cash flow last quarter ($402.6M vs $178.6M). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% 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.
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
IHS vs SKWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $385.6M |
| Net Profit | — | $43.2M |
| Gross Margin | 83.6% | — |
| Operating Margin | — | 14.2% |
| Net Margin | — | 11.2% |
| Revenue YoY | 0.1% | 26.7% |
| Net Profit YoY | — | 200.1% |
| EPS (diluted) | — | $1.03 |
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 | $385.6M | ||
| Q3 25 | $455.1M | $382.5M | ||
| Q2 25 | $433.3M | $319.9M | ||
| Q1 25 | $439.6M | $328.5M | ||
| Q4 24 | $253.8M | $304.4M | ||
| Q3 24 | $420.3M | $300.9M | ||
| Q2 24 | $435.4M | $279.9M | ||
| Q1 24 | $417.7M | $265.0M |
| Q4 25 | — | $43.2M | ||
| Q3 25 | $147.4M | $45.9M | ||
| Q2 25 | $32.3M | $38.8M | ||
| Q1 25 | $30.7M | $42.1M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $-205.7M | $36.7M | ||
| Q2 24 | $-124.3M | $31.0M | ||
| Q1 24 | $-1.6B | $36.8M |
| 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 | — | 14.2% | ||
| Q3 25 | 35.1% | 15.8% | ||
| Q2 25 | 33.8% | 15.6% | ||
| Q1 25 | 37.1% | 15.7% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | 29.9% | 15.6% | ||
| Q2 24 | 34.0% | 14.4% | ||
| Q1 24 | -1.7% | 17.7% |
| Q4 25 | — | 11.2% | ||
| Q3 25 | 32.4% | 12.0% | ||
| Q2 25 | 7.5% | 12.1% | ||
| Q1 25 | 7.0% | 12.8% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | -48.9% | 12.2% | ||
| Q2 24 | -28.5% | 11.1% | ||
| Q1 24 | -372.8% | 13.9% |
| Q4 25 | — | $1.03 | ||
| Q3 25 | $0.44 | $1.10 | ||
| Q2 25 | $0.10 | $0.93 | ||
| Q1 25 | $0.10 | $1.01 | ||
| Q4 24 | — | $0.33 | ||
| Q3 24 | $-0.61 | $0.89 | ||
| Q2 24 | $-0.36 | $0.75 | ||
| Q1 24 | $-4.67 | $0.90 |
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 | $168.5M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | $1.0B |
| Total Assets | $4.5B | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $168.5M | ||
| Q3 25 | $647.6M | $160.1M | ||
| Q2 25 | $531.8M | $136.6M | ||
| Q1 25 | $629.0M | $112.9M | ||
| Q4 24 | $578.0M | $121.6M | ||
| Q3 24 | $397.5M | $105.6M | ||
| Q2 24 | $445.7M | $73.0M | ||
| Q1 24 | $333.2M | $85.1M |
| 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 | $1.0B | ||
| Q3 25 | $38.1M | $961.4M | ||
| Q2 25 | $-98.4M | $899.9M | ||
| Q1 25 | $-184.4M | $850.7M | ||
| Q4 24 | $-314.4M | $794.0M | ||
| Q3 24 | $-284.7M | $797.5M | ||
| Q2 24 | $-308.3M | $723.6M | ||
| Q1 24 | $-163.2M | $692.3M |
| Q4 25 | $4.5B | $4.8B | ||
| Q3 25 | $4.7B | $4.6B | ||
| Q2 25 | $4.5B | $4.3B | ||
| Q1 25 | $4.4B | $4.0B | ||
| Q4 24 | $4.2B | $3.7B | ||
| Q3 24 | $4.6B | $3.6B | ||
| Q2 24 | $4.5B | $3.4B | ||
| Q1 24 | $4.6B | $3.2B |
| 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 | $408.1M |
| Free Cash FlowOCF − Capex | $178.6M | $402.6M |
| FCF MarginFCF / Revenue | 70.3% | 104.4% |
| Capex IntensityCapex / Revenue | 26.9% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $408.1M | ||
| Q3 25 | $251.3M | $171.4M | ||
| Q2 25 | $237.7M | $88.2M | ||
| Q1 25 | $200.3M | $96.8M | ||
| Q4 24 | $344.4M | $305.1M | ||
| Q3 24 | $174.5M | $168.0M | ||
| Q2 24 | $134.7M | $21.0M | ||
| Q1 24 | $75.8M | $94.3M |
| Q4 25 | $178.6M | $402.6M | ||
| Q3 25 | $189.2M | $168.9M | ||
| Q2 25 | $197.7M | $87.1M | ||
| Q1 25 | $153.2M | $96.6M | ||
| Q4 24 | $282.9M | $300.9M | ||
| Q3 24 | $122.3M | $167.6M | ||
| Q2 24 | $74.2M | $18.4M | ||
| Q1 24 | $14.8M | $94.0M |
| Q4 25 | 70.3% | 104.4% | ||
| Q3 25 | 41.6% | 44.2% | ||
| Q2 25 | 45.6% | 27.2% | ||
| Q1 25 | 34.8% | 29.4% | ||
| Q4 24 | 111.5% | 98.8% | ||
| Q3 24 | 29.1% | 55.7% | ||
| Q2 24 | 17.0% | 6.6% | ||
| Q1 24 | 3.5% | 35.5% |
| Q4 25 | 26.9% | 1.4% | ||
| Q3 25 | 13.6% | 0.6% | ||
| Q2 25 | 9.2% | 0.3% | ||
| Q1 25 | 10.7% | 0.1% | ||
| Q4 24 | 24.2% | 1.4% | ||
| Q3 24 | 12.4% | 0.1% | ||
| Q2 24 | 13.9% | 0.9% | ||
| Q1 24 | 14.6% | 0.1% |
| Q4 25 | — | 9.44× | ||
| Q3 25 | 1.70× | 3.73× | ||
| Q2 25 | 7.36× | 2.27× | ||
| Q1 25 | 6.52× | 2.30× | ||
| Q4 24 | — | 21.18× | ||
| Q3 24 | — | 4.58× | ||
| Q2 24 | — | 0.68× | ||
| Q1 24 | — | 2.56× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
