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Side-by-side financial comparison of IHS Holding Ltd (IHS) and WORKIVA INC (WK). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $247.3M, roughly 1.0× WORKIVA INC). On growth, WORKIVA INC posted the faster year-over-year revenue change (19.9% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $25.7M). Over the past eight quarters, WORKIVA INC's revenue compounded faster (18.0% 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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
IHS vs WK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $247.3M |
| Net Profit | — | $19.0M |
| Gross Margin | 83.6% | 80.4% |
| Operating Margin | — | 25.8% |
| Net Margin | — | 7.7% |
| Revenue YoY | 0.1% | 19.9% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.33 |
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 | — | $247.3M | ||
| Q4 25 | $254.0M | $238.9M | ||
| Q3 25 | $455.1M | $224.2M | ||
| Q2 25 | $433.3M | $215.2M | ||
| Q1 25 | $439.6M | $206.3M | ||
| Q4 24 | $253.8M | $199.9M | ||
| Q3 24 | $420.3M | $185.6M | ||
| Q2 24 | $435.4M | $177.5M |
| Q1 26 | — | $19.0M | ||
| Q4 25 | — | $11.8M | ||
| Q3 25 | $147.4M | $2.8M | ||
| Q2 25 | $32.3M | $-19.4M | ||
| Q1 25 | $30.7M | $-21.4M | ||
| Q4 24 | — | $-8.8M | ||
| Q3 24 | $-205.7M | $-17.0M | ||
| Q2 24 | $-124.3M | $-17.5M |
| Q1 26 | — | 80.4% | ||
| Q4 25 | 83.6% | 80.7% | ||
| Q3 25 | 47.5% | 79.3% | ||
| Q2 25 | 51.3% | 77.0% | ||
| Q1 25 | 51.4% | 76.6% | ||
| Q4 24 | 72.1% | 77.1% | ||
| Q3 24 | 52.0% | 76.5% | ||
| Q2 24 | 52.5% | 76.8% |
| Q1 26 | — | 25.8% | ||
| Q4 25 | — | 3.3% | ||
| Q3 25 | 35.1% | -1.5% | ||
| Q2 25 | 33.8% | -10.3% | ||
| Q1 25 | 37.1% | -12.0% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | 29.9% | -11.7% | ||
| Q2 24 | 34.0% | -13.0% |
| Q1 26 | — | 7.7% | ||
| Q4 25 | — | 4.9% | ||
| Q3 25 | 32.4% | 1.2% | ||
| Q2 25 | 7.5% | -9.0% | ||
| Q1 25 | 7.0% | -10.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | -48.9% | -9.2% | ||
| Q2 24 | -28.5% | -9.9% |
| Q1 26 | — | $0.33 | ||
| Q4 25 | — | $0.21 | ||
| Q3 25 | $0.44 | $0.05 | ||
| Q2 25 | $0.10 | $-0.35 | ||
| Q1 25 | $0.10 | $-0.38 | ||
| Q4 24 | — | $-0.15 | ||
| Q3 24 | $-0.61 | $-0.31 | ||
| Q2 24 | $-0.36 | $-0.32 |
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 | $334.3M |
| Total DebtLower is stronger | $3.1B | — |
| Stockholders' EquityBook value | $-89.8M | — |
| Total Assets | $4.5B | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $334.3M | ||
| Q4 25 | $825.7M | $338.8M | ||
| Q3 25 | $647.6M | $315.9M | ||
| Q2 25 | $531.8M | $284.3M | ||
| Q1 25 | $629.0M | $242.0M | ||
| Q4 24 | $578.0M | $301.8M | ||
| Q3 24 | $397.5M | $248.2M | ||
| Q2 24 | $445.7M | $267.9M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | $-89.8M | $-5.4M | ||
| Q3 25 | $38.1M | $-36.9M | ||
| Q2 25 | $-98.4M | $-66.5M | ||
| Q1 25 | $-184.4M | $-75.7M | ||
| Q4 24 | $-314.4M | $-41.7M | ||
| Q3 24 | $-284.7M | $-50.8M | ||
| Q2 24 | $-308.3M | $-77.7M |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $4.7B | $1.4B | ||
| Q2 25 | $4.5B | $1.3B | ||
| Q1 25 | $4.4B | $1.3B | ||
| Q4 24 | $4.2B | $1.4B | ||
| Q3 24 | $4.6B | $1.3B | ||
| Q2 24 | $4.5B | $1.2B |
| 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 | $25.7M |
| FCF MarginFCF / Revenue | 70.3% | 10.4% |
| Capex IntensityCapex / Revenue | 26.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $171.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $246.9M | $51.0M | ||
| Q3 25 | $251.3M | $46.2M | ||
| Q2 25 | $237.7M | $50.3M | ||
| Q1 25 | $200.3M | $-7.4M | ||
| Q4 24 | $344.4M | $44.0M | ||
| Q3 24 | $174.5M | $18.9M | ||
| Q2 24 | $134.7M | $-14.0K |
| Q1 26 | — | $25.7M | ||
| Q4 25 | $178.6M | $50.7M | ||
| Q3 25 | $189.2M | $46.1M | ||
| Q2 25 | $197.7M | $49.3M | ||
| Q1 25 | $153.2M | $-8.1M | ||
| Q4 24 | $282.9M | $43.2M | ||
| Q3 24 | $122.3M | $18.7M | ||
| Q2 24 | $74.2M | $-122.0K |
| Q1 26 | — | 10.4% | ||
| Q4 25 | 70.3% | 21.2% | ||
| Q3 25 | 41.6% | 20.5% | ||
| Q2 25 | 45.6% | 22.9% | ||
| Q1 25 | 34.8% | -3.9% | ||
| Q4 24 | 111.5% | 21.6% | ||
| Q3 24 | 29.1% | 10.1% | ||
| Q2 24 | 17.0% | -0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | 0.1% | ||
| Q3 25 | 13.6% | 0.0% | ||
| Q2 25 | 9.2% | 0.5% | ||
| Q1 25 | 10.7% | 0.4% | ||
| Q4 24 | 24.2% | 0.4% | ||
| Q3 24 | 12.4% | 0.1% | ||
| Q2 24 | 13.9% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.31× | ||
| Q3 25 | 1.70× | 16.57× | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
WK
| Subscription and support | $225.4M | 91% |
| Other | $22.0M | 9% |
