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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Utz Brands, Inc. (UTZ). Click either name above to swap in a different company.

Utz Brands, Inc. is the larger business by last-quarter revenue ($341.0M vs $254.0M, roughly 1.3× IHS Holding Ltd). On growth, IHS Holding Ltd posted the faster year-over-year revenue change (0.1% vs -3.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $16.5M). Over the past eight quarters, Utz Brands, Inc.'s revenue compounded faster (-1.5% 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.

Utz Brands, Inc., more commonly known as Utz, is an American snack food company based in Hanover, Pennsylvania. The company produces a variety of potato chips, pretzels, and other snacks, with most products sold under their family of brands. Utz is also a snack supplier to warehouse clubs and merchandisers.

IHS vs UTZ — Head-to-Head

Bigger by revenue
UTZ
UTZ
1.3× larger
UTZ
$341.0M
$254.0M
IHS
Growing faster (revenue YoY)
IHS
IHS
+3.2% gap
IHS
0.1%
-3.1%
UTZ
More free cash flow
IHS
IHS
$162.1M more FCF
IHS
$178.6M
$16.5M
UTZ
Faster 2-yr revenue CAGR
UTZ
UTZ
Annualised
UTZ
-1.5%
-22.0%
IHS

Income Statement — Q4 FY2025 vs Q4 FY2024

Metric
IHS
IHS
UTZ
UTZ
Revenue
$254.0M
$341.0M
Net Profit
$2.3M
Gross Margin
83.6%
25.5%
Operating Margin
2.1%
Net Margin
0.7%
Revenue YoY
0.1%
-3.1%
Net Profit YoY
108.3%
EPS (diluted)
$0.04

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.

Revenue
IHS
IHS
UTZ
UTZ
Q4 25
$254.0M
Q3 25
$455.1M
Q2 25
$433.3M
Q1 25
$439.6M
Q4 24
$253.8M
$341.0M
Q3 24
$420.3M
$365.5M
Q2 24
$435.4M
$356.2M
Q1 24
$417.7M
$346.5M
Net Profit
IHS
IHS
UTZ
UTZ
Q4 25
Q3 25
$147.4M
Q2 25
$32.3M
Q1 25
$30.7M
Q4 24
$2.3M
Q3 24
$-205.7M
$-2.2M
Q2 24
$-124.3M
$19.8M
Q1 24
$-1.6B
$-4.0M
Gross Margin
IHS
IHS
UTZ
UTZ
Q4 25
83.6%
Q3 25
47.5%
Q2 25
51.3%
Q1 25
51.4%
Q4 24
72.1%
25.5%
Q3 24
52.0%
26.9%
Q2 24
52.5%
26.7%
Q1 24
39.1%
25.5%
Operating Margin
IHS
IHS
UTZ
UTZ
Q4 25
Q3 25
35.1%
Q2 25
33.8%
Q1 25
37.1%
Q4 24
2.1%
Q3 24
29.9%
5.3%
Q2 24
34.0%
6.3%
Q1 24
-1.7%
2.8%
Net Margin
IHS
IHS
UTZ
UTZ
Q4 25
Q3 25
32.4%
Q2 25
7.5%
Q1 25
7.0%
Q4 24
0.7%
Q3 24
-48.9%
-0.6%
Q2 24
-28.5%
5.6%
Q1 24
-372.8%
-1.2%
EPS (diluted)
IHS
IHS
UTZ
UTZ
Q4 25
Q3 25
$0.44
Q2 25
$0.10
Q1 25
$0.10
Q4 24
$0.04
Q3 24
$-0.61
$-0.03
Q2 24
$-0.36
$0.23
Q1 24
$-4.67
$-0.05

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IHS
IHS
UTZ
UTZ
Cash + ST InvestmentsLiquidity on hand
$825.7M
$56.1M
Total DebtLower is stronger
$3.1B
$768.6M
Stockholders' EquityBook value
$-89.8M
$696.9M
Total Assets
$4.5B
$2.7B
Debt / EquityLower = less leverage
1.10×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IHS
IHS
UTZ
UTZ
Q4 25
$825.7M
Q3 25
$647.6M
Q2 25
$531.8M
Q1 25
$629.0M
Q4 24
$578.0M
$56.1M
Q3 24
$397.5M
$64.9M
Q2 24
$445.7M
$66.6M
Q1 24
$333.2M
$47.0M
Total Debt
IHS
IHS
UTZ
UTZ
Q4 25
$3.1B
Q3 25
$3.3B
Q2 25
$3.2B
Q1 25
$3.4B
Q4 24
$3.3B
$768.6M
Q3 24
$3.5B
$780.8M
Q2 24
$3.6B
$797.6M
Q1 24
$3.5B
$756.9M
Stockholders' Equity
IHS
IHS
UTZ
UTZ
Q4 25
$-89.8M
Q3 25
$38.1M
Q2 25
$-98.4M
Q1 25
$-184.4M
Q4 24
$-314.4M
$696.9M
Q3 24
$-284.7M
$685.7M
Q2 24
$-308.3M
$686.0M
Q1 24
$-163.2M
$671.1M
Total Assets
IHS
IHS
UTZ
UTZ
Q4 25
$4.5B
Q3 25
$4.7B
Q2 25
$4.5B
Q1 25
$4.4B
Q4 24
$4.2B
$2.7B
Q3 24
$4.6B
$2.6B
Q2 24
$4.5B
$2.7B
Q1 24
$4.6B
$2.6B
Debt / Equity
IHS
IHS
UTZ
UTZ
Q4 25
Q3 25
85.85×
Q2 25
Q1 25
Q4 24
1.10×
Q3 24
1.14×
Q2 24
1.16×
Q1 24
1.13×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IHS
IHS
UTZ
UTZ
Operating Cash FlowLast quarter
$246.9M
$54.2M
Free Cash FlowOCF − Capex
$178.6M
$16.5M
FCF MarginFCF / Revenue
70.3%
4.8%
Capex IntensityCapex / Revenue
26.9%
11.1%
Cash ConversionOCF / Net Profit
23.67×
TTM Free Cash FlowTrailing 4 quarters
$718.7M
$7.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IHS
IHS
UTZ
UTZ
Q4 25
$246.9M
Q3 25
$251.3M
Q2 25
$237.7M
Q1 25
$200.3M
Q4 24
$344.4M
$54.2M
Q3 24
$174.5M
$52.2M
Q2 24
$134.7M
$8.9M
Q1 24
$75.8M
$-9.1M
Free Cash Flow
IHS
IHS
UTZ
UTZ
Q4 25
$178.6M
Q3 25
$189.2M
Q2 25
$197.7M
Q1 25
$153.2M
Q4 24
$282.9M
$16.5M
Q3 24
$122.3M
$29.1M
Q2 24
$74.2M
$-15.3M
Q1 24
$14.8M
$-22.7M
FCF Margin
IHS
IHS
UTZ
UTZ
Q4 25
70.3%
Q3 25
41.6%
Q2 25
45.6%
Q1 25
34.8%
Q4 24
111.5%
4.8%
Q3 24
29.1%
8.0%
Q2 24
17.0%
-4.3%
Q1 24
3.5%
-6.5%
Capex Intensity
IHS
IHS
UTZ
UTZ
Q4 25
26.9%
Q3 25
13.6%
Q2 25
9.2%
Q1 25
10.7%
Q4 24
24.2%
11.1%
Q3 24
12.4%
6.3%
Q2 24
13.9%
6.8%
Q1 24
14.6%
3.9%
Cash Conversion
IHS
IHS
UTZ
UTZ
Q4 25
Q3 25
1.70×
Q2 25
7.36×
Q1 25
6.52×
Q4 24
23.67×
Q3 24
Q2 24
0.45×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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