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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Wingstop Inc. (WING). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $183.7M, roughly 1.4× Wingstop Inc.). On growth, Wingstop Inc. posted the faster year-over-year revenue change (7.4% vs 0.1%). Over the past eight quarters, Wingstop Inc.'s revenue compounded faster (8.6% 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.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
IHS vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $183.7M |
| Net Profit | — | $29.9M |
| Gross Margin | 83.6% | 86.5% |
| Operating Margin | — | 27.4% |
| Net Margin | — | 16.3% |
| Revenue YoY | 0.1% | 7.4% |
| Net Profit YoY | — | -67.6% |
| EPS (diluted) | — | $1.08 |
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.
| Q1 26 | — | $183.7M | ||
| Q4 25 | $254.0M | $175.7M | ||
| Q3 25 | $455.1M | $175.7M | ||
| Q2 25 | $433.3M | $174.3M | ||
| Q1 25 | $439.6M | $171.1M | ||
| Q4 24 | $253.8M | $161.8M | ||
| Q3 24 | $420.3M | $162.5M | ||
| Q2 24 | $435.4M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | — | $26.8M | ||
| Q3 25 | $147.4M | $28.5M | ||
| Q2 25 | $32.3M | $26.8M | ||
| Q1 25 | $30.7M | $92.3M | ||
| Q4 24 | — | $26.8M | ||
| Q3 24 | $-205.7M | $25.7M | ||
| Q2 24 | $-124.3M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | 83.6% | — | ||
| Q3 25 | 47.5% | — | ||
| Q2 25 | 51.3% | — | ||
| Q1 25 | 51.4% | — | ||
| Q4 24 | 72.1% | 85.6% | ||
| Q3 24 | 52.0% | 85.0% | ||
| Q2 24 | 52.5% | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | — | 26.7% | ||
| Q3 25 | 35.1% | 27.9% | ||
| Q2 25 | 33.8% | 25.9% | ||
| Q1 25 | 37.1% | 22.4% | ||
| Q4 24 | — | 25.9% | ||
| Q3 24 | 29.9% | 24.5% | ||
| Q2 24 | 34.0% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | — | 15.2% | ||
| Q3 25 | 32.4% | 16.2% | ||
| Q2 25 | 7.5% | 15.4% | ||
| Q1 25 | 7.0% | 53.9% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | -48.9% | 15.8% | ||
| Q2 24 | -28.5% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | — | $0.99 | ||
| Q3 25 | $0.44 | $1.02 | ||
| Q2 25 | $0.10 | $0.96 | ||
| Q1 25 | $0.10 | $3.24 | ||
| Q4 24 | — | $0.91 | ||
| Q3 24 | $-0.61 | $0.88 | ||
| Q2 24 | $-0.36 | $0.93 |
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 | $128.8M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | — |
| Total Assets | $4.5B | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $825.7M | $196.6M | ||
| Q3 25 | $647.6M | $237.6M | ||
| Q2 25 | $531.8M | $227.9M | ||
| Q1 25 | $629.0M | $251.4M | ||
| Q4 24 | $578.0M | $315.9M | ||
| Q3 24 | $397.5M | $84.0M | ||
| Q2 24 | $445.7M | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $1.2B | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | $1.2B | ||
| Q3 24 | $3.5B | — | ||
| Q2 24 | $3.6B | — |
| Q1 26 | — | — | ||
| Q4 25 | $-89.8M | $-736.8M | ||
| Q3 25 | $38.1M | $-702.6M | ||
| Q2 25 | $-98.4M | $-686.0M | ||
| Q1 25 | $-184.4M | $-715.0M | ||
| Q4 24 | $-314.4M | $-675.6M | ||
| Q3 24 | $-284.7M | $-447.5M | ||
| Q2 24 | $-308.3M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $4.5B | $693.4M | ||
| Q3 25 | $4.7B | $721.0M | ||
| Q2 25 | $4.5B | $708.3M | ||
| Q1 25 | $4.4B | $696.8M | ||
| Q4 24 | $4.2B | $716.2M | ||
| Q3 24 | $4.6B | $484.8M | ||
| Q2 24 | $4.5B | $451.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — |
| Free Cash FlowOCF − Capex | $178.6M | — |
| FCF MarginFCF / Revenue | 70.3% | — |
| Capex IntensityCapex / Revenue | 26.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $246.9M | $57.3M | ||
| Q3 25 | $251.3M | $63.9M | ||
| Q2 25 | $237.7M | $6.6M | ||
| Q1 25 | $200.3M | $25.3M | ||
| Q4 24 | $344.4M | $7.7M | ||
| Q3 24 | $174.5M | $69.0M | ||
| Q2 24 | $134.7M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $178.6M | $34.5M | ||
| Q3 25 | $189.2M | $61.7M | ||
| Q2 25 | $197.7M | $-7.8M | ||
| Q1 25 | $153.2M | $17.3M | ||
| Q4 24 | $282.9M | $-8.6M | ||
| Q3 24 | $122.3M | $54.9M | ||
| Q2 24 | $74.2M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | 70.3% | 19.6% | ||
| Q3 25 | 41.6% | 35.1% | ||
| Q2 25 | 45.6% | -4.5% | ||
| Q1 25 | 34.8% | 10.1% | ||
| Q4 24 | 111.5% | -5.3% | ||
| Q3 24 | 29.1% | 33.8% | ||
| Q2 24 | 17.0% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | 13.0% | ||
| Q3 25 | 13.6% | 1.3% | ||
| Q2 25 | 9.2% | 8.2% | ||
| Q1 25 | 10.7% | 4.7% | ||
| Q4 24 | 24.2% | 10.1% | ||
| Q3 24 | 12.4% | 8.7% | ||
| Q2 24 | 13.9% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | 1.70× | 2.24× | ||
| Q2 25 | 7.36× | 0.25× | ||
| Q1 25 | 6.52× | 0.27× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 2.68× | ||
| Q2 24 | — | 1.32× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
