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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M 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 -0.4%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% 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.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
IHS vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $340.0M |
| Net Profit | — | $-13.9M |
| Gross Margin | 83.6% | — |
| Operating Margin | — | -17.2% |
| Net Margin | — | -12.9% |
| Revenue YoY | 0.1% | -0.4% |
| Net Profit YoY | — | -131.0% |
| EPS (diluted) | — | $-0.41 |
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 | $340.0M | ||
| Q3 25 | $455.1M | $337.7M | ||
| Q2 25 | $433.3M | $319.2M | ||
| Q1 25 | $439.6M | $237.4M | ||
| Q4 24 | $253.8M | $341.5M | ||
| Q3 24 | $420.3M | $292.3M | ||
| Q2 24 | $435.4M | $270.7M | ||
| Q1 24 | $417.7M | $228.1M |
| Q4 25 | — | $-13.9M | ||
| Q3 25 | $147.4M | $33.5M | ||
| Q2 25 | $32.3M | $34.0M | ||
| Q1 25 | $30.7M | $2.8M | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | $-205.7M | $28.8M | ||
| Q2 24 | $-124.3M | $22.7M | ||
| Q1 24 | $-1.6B | $11.9M |
| 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 | — | -17.2% | ||
| Q3 25 | 35.1% | 13.6% | ||
| Q2 25 | 33.8% | 14.5% | ||
| Q1 25 | 37.1% | 2.2% | ||
| Q4 24 | — | 15.3% | ||
| Q3 24 | 29.9% | 12.8% | ||
| Q2 24 | 34.0% | 10.4% | ||
| Q1 24 | -1.7% | 6.0% |
| Q4 25 | — | -12.9% | ||
| Q3 25 | 32.4% | 9.9% | ||
| Q2 25 | 7.5% | 10.6% | ||
| Q1 25 | 7.0% | 1.2% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | -48.9% | 9.9% | ||
| Q2 24 | -28.5% | 8.4% | ||
| Q1 24 | -372.8% | 5.2% |
| Q4 25 | — | $-0.41 | ||
| Q3 25 | $0.44 | $0.98 | ||
| Q2 25 | $0.10 | $0.99 | ||
| Q1 25 | $0.10 | $0.08 | ||
| Q4 24 | — | $1.32 | ||
| Q3 24 | $-0.61 | $0.85 | ||
| Q2 24 | $-0.36 | $0.67 | ||
| Q1 24 | $-4.67 | $0.35 |
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 | $299.3M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | $1.7B |
| Total Assets | $4.5B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $299.3M | ||
| Q3 25 | $647.6M | $274.8M | ||
| Q2 25 | $531.8M | $233.7M | ||
| Q1 25 | $629.0M | $181.0M | ||
| Q4 24 | $578.0M | $279.3M | ||
| Q3 24 | $397.5M | $179.8M | ||
| Q2 24 | $445.7M | $208.1M | ||
| Q1 24 | $333.2M | $216.5M |
| 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 | $1.7B | ||
| Q3 25 | $38.1M | $1.8B | ||
| Q2 25 | $-98.4M | $1.8B | ||
| Q1 25 | $-184.4M | $1.7B | ||
| Q4 24 | $-314.4M | $1.7B | ||
| Q3 24 | $-284.7M | $1.7B | ||
| Q2 24 | $-308.3M | $1.7B | ||
| Q1 24 | $-163.2M | $1.7B |
| Q4 25 | $4.5B | $5.1B | ||
| Q3 25 | $4.7B | $5.8B | ||
| Q2 25 | $4.5B | $4.7B | ||
| Q1 25 | $4.4B | $4.5B | ||
| Q4 24 | $4.2B | $4.4B | ||
| Q3 24 | $4.6B | $4.6B | ||
| Q2 24 | $4.5B | $4.2B | ||
| Q1 24 | $4.6B | $3.8B |
| 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 | $-664.3M |
| Free Cash FlowOCF − Capex | $178.6M | $-680.1M |
| FCF MarginFCF / Revenue | 70.3% | -200.0% |
| Capex IntensityCapex / Revenue | 26.9% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $-664.3M | ||
| Q3 25 | $251.3M | $-948.1M | ||
| Q2 25 | $237.7M | $-238.5M | ||
| Q1 25 | $200.3M | $-281.1M | ||
| Q4 24 | $344.4M | $129.4M | ||
| Q3 24 | $174.5M | $-202.0M | ||
| Q2 24 | $134.7M | $-237.8M | ||
| Q1 24 | $75.8M | $38.4M |
| Q4 25 | $178.6M | $-680.1M | ||
| Q3 25 | $189.2M | $-950.4M | ||
| Q2 25 | $197.7M | $-241.0M | ||
| Q1 25 | $153.2M | $-284.7M | ||
| Q4 24 | $282.9M | $116.4M | ||
| Q3 24 | $122.3M | $-204.0M | ||
| Q2 24 | $74.2M | $-241.7M | ||
| Q1 24 | $14.8M | $35.2M |
| Q4 25 | 70.3% | -200.0% | ||
| Q3 25 | 41.6% | -281.5% | ||
| Q2 25 | 45.6% | -75.5% | ||
| Q1 25 | 34.8% | -120.0% | ||
| Q4 24 | 111.5% | 34.1% | ||
| Q3 24 | 29.1% | -69.8% | ||
| Q2 24 | 17.0% | -89.3% | ||
| Q1 24 | 3.5% | 15.4% |
| Q4 25 | 26.9% | 4.6% | ||
| Q3 25 | 13.6% | 0.7% | ||
| Q2 25 | 9.2% | 0.8% | ||
| Q1 25 | 10.7% | 1.5% | ||
| Q4 24 | 24.2% | 3.8% | ||
| Q3 24 | 12.4% | 0.7% | ||
| Q2 24 | 13.9% | 1.4% | ||
| Q1 24 | 14.6% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | -28.34× | ||
| Q2 25 | 7.36× | -7.02× | ||
| Q1 25 | 6.52× | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
