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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $245.3M, roughly 1.0× Tecnoglass Inc.). On growth, Tecnoglass Inc. posted the faster year-over-year revenue change (2.4% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $11.4M). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% 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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
IHS vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $245.3M |
| Net Profit | — | $26.1M |
| Gross Margin | 83.6% | 40.0% |
| Operating Margin | — | 18.3% |
| Net Margin | — | 10.6% |
| Revenue YoY | 0.1% | 2.4% |
| Net Profit YoY | — | -44.5% |
| EPS (diluted) | — | $0.57 |
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 | $245.3M | ||
| Q3 25 | $455.1M | $260.5M | ||
| Q2 25 | $433.3M | $255.5M | ||
| Q1 25 | $439.6M | $222.3M | ||
| Q4 24 | $253.8M | $239.6M | ||
| Q3 24 | $420.3M | $238.3M | ||
| Q2 24 | $435.4M | $219.7M | ||
| Q1 24 | $417.7M | $192.6M |
| Q4 25 | — | $26.1M | ||
| Q3 25 | $147.4M | $47.2M | ||
| Q2 25 | $32.3M | $44.1M | ||
| Q1 25 | $30.7M | $42.2M | ||
| Q4 24 | — | $47.0M | ||
| Q3 24 | $-205.7M | $49.5M | ||
| Q2 24 | $-124.3M | $35.0M | ||
| Q1 24 | $-1.6B | $29.7M |
| Q4 25 | 83.6% | 40.0% | ||
| Q3 25 | 47.5% | 42.7% | ||
| Q2 25 | 51.3% | 44.7% | ||
| Q1 25 | 51.4% | 43.9% | ||
| Q4 24 | 72.1% | 44.5% | ||
| Q3 24 | 52.0% | 45.8% | ||
| Q2 24 | 52.5% | 40.8% | ||
| Q1 24 | 39.1% | 38.8% |
| Q4 25 | — | 18.3% | ||
| Q3 25 | 35.1% | 25.1% | ||
| Q2 25 | 33.8% | 24.0% | ||
| Q1 25 | 37.1% | 26.7% | ||
| Q4 24 | — | 28.0% | ||
| Q3 24 | 29.9% | 28.4% | ||
| Q2 24 | 34.0% | 23.3% | ||
| Q1 24 | -1.7% | 21.3% |
| Q4 25 | — | 10.6% | ||
| Q3 25 | 32.4% | 18.1% | ||
| Q2 25 | 7.5% | 17.3% | ||
| Q1 25 | 7.0% | 19.0% | ||
| Q4 24 | — | 19.6% | ||
| Q3 24 | -48.9% | 20.8% | ||
| Q2 24 | -28.5% | 15.9% | ||
| Q1 24 | -372.8% | 15.4% |
| Q4 25 | — | $0.57 | ||
| Q3 25 | $0.44 | $1.01 | ||
| Q2 25 | $0.10 | $0.94 | ||
| Q1 25 | $0.10 | $0.90 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | $-0.61 | $1.05 | ||
| Q2 24 | $-0.36 | $0.75 | ||
| Q1 24 | $-4.67 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | $3.1B | $174.4M |
| Stockholders' EquityBook value | $-89.8M | $713.1M |
| Total Assets | $4.5B | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $104.1M | ||
| Q3 25 | $647.6M | $127.1M | ||
| Q2 25 | $531.8M | $140.9M | ||
| Q1 25 | $629.0M | $160.2M | ||
| Q4 24 | $578.0M | $137.5M | ||
| Q3 24 | $397.5M | $124.8M | ||
| Q2 24 | $445.7M | $129.5M | ||
| Q1 24 | $333.2M | $138.8M |
| Q4 25 | $3.1B | $174.4M | ||
| Q3 25 | $3.3B | $114.7M | ||
| Q2 25 | $3.2B | $110.6M | ||
| Q1 25 | $3.4B | $110.6M | ||
| Q4 24 | $3.3B | $111.1M | ||
| Q3 24 | $3.5B | $126.8M | ||
| Q2 24 | $3.6B | $144.7M | ||
| Q1 24 | $3.5B | $160.9M |
| Q4 25 | $-89.8M | $713.1M | ||
| Q3 25 | $38.1M | $764.0M | ||
| Q2 25 | $-98.4M | $736.0M | ||
| Q1 25 | $-184.4M | $685.1M | ||
| Q4 24 | $-314.4M | $631.2M | ||
| Q3 24 | $-284.7M | $613.3M | ||
| Q2 24 | $-308.3M | $574.8M | ||
| Q1 24 | $-163.2M | $573.6M |
| Q4 25 | $4.5B | $1.3B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $4.5B | $1.2B | ||
| Q1 25 | $4.4B | $1.1B | ||
| Q4 24 | $4.2B | $1.0B | ||
| Q3 24 | $4.6B | $996.3M | ||
| Q2 24 | $4.5B | $942.5M | ||
| Q1 24 | $4.6B | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | 85.85× | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $178.6M | $11.4M |
| FCF MarginFCF / Revenue | 70.3% | 4.7% |
| Capex IntensityCapex / Revenue | 26.9% | 8.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $31.0M | ||
| Q3 25 | $251.3M | $40.0M | ||
| Q2 25 | $237.7M | $17.9M | ||
| Q1 25 | $200.3M | $46.9M | ||
| Q4 24 | $344.4M | $61.1M | ||
| Q3 24 | $174.5M | $41.5M | ||
| Q2 24 | $134.7M | $34.5M | ||
| Q1 24 | $75.8M | $33.4M |
| Q4 25 | $178.6M | $11.4M | ||
| Q3 25 | $189.2M | $21.2M | ||
| Q2 25 | $197.7M | $-14.7M | ||
| Q1 25 | $153.2M | $16.5M | ||
| Q4 24 | $282.9M | $35.4M | ||
| Q3 24 | $122.3M | $17.8M | ||
| Q2 24 | $74.2M | $14.2M | ||
| Q1 24 | $14.8M | $23.6M |
| Q4 25 | 70.3% | 4.7% | ||
| Q3 25 | 41.6% | 8.2% | ||
| Q2 25 | 45.6% | -5.7% | ||
| Q1 25 | 34.8% | 7.4% | ||
| Q4 24 | 111.5% | 14.8% | ||
| Q3 24 | 29.1% | 7.5% | ||
| Q2 24 | 17.0% | 6.5% | ||
| Q1 24 | 3.5% | 12.2% |
| Q4 25 | 26.9% | 8.0% | ||
| Q3 25 | 13.6% | 7.2% | ||
| Q2 25 | 9.2% | 12.7% | ||
| Q1 25 | 10.7% | 13.7% | ||
| Q4 24 | 24.2% | 10.7% | ||
| Q3 24 | 12.4% | 9.9% | ||
| Q2 24 | 13.9% | 9.2% | ||
| Q1 24 | 14.6% | 5.1% |
| Q4 25 | — | 1.19× | ||
| Q3 25 | 1.70× | 0.85× | ||
| Q2 25 | 7.36× | 0.41× | ||
| Q1 25 | 6.52× | 1.11× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | — | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
