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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Zeta Global Holdings Corp. (ZETA). Click either name above to swap in a different company.
Zeta Global Holdings Corp. is the larger business by last-quarter revenue ($394.6M vs $254.0M, roughly 1.6× IHS Holding Ltd). On growth, Zeta Global Holdings Corp. posted the faster year-over-year revenue change (25.4% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $60.9M). Over the past eight quarters, Zeta Global Holdings Corp.'s revenue compounded faster (42.3% 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.
Zeta Global Holdings Corp. is an American marketing technology company which was founded in 2007. Zeta offers companies a suite of multichannel marketing tools focused on creating, maintaining, and monetizing customer relationships. The company went public on the New York Stock Exchange on June 10, 2021, at a US$1.7 billion valuation.
IHS vs ZETA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $394.6M |
| Net Profit | — | $6.5M |
| Gross Margin | 83.6% | 59.5% |
| Operating Margin | — | 4.5% |
| Net Margin | — | 1.7% |
| Revenue YoY | 0.1% | 25.4% |
| Net Profit YoY | — | -57.1% |
| 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.
| Q4 25 | $254.0M | $394.6M | ||
| Q3 25 | $455.1M | $337.2M | ||
| Q2 25 | $433.3M | $308.4M | ||
| Q1 25 | $439.6M | $264.4M | ||
| Q4 24 | $253.8M | $314.7M | ||
| Q3 24 | $420.3M | $268.3M | ||
| Q2 24 | $435.4M | $227.8M | ||
| Q1 24 | $417.7M | $194.9M |
| Q4 25 | — | $6.5M | ||
| Q3 25 | $147.4M | $-3.6M | ||
| Q2 25 | $32.3M | $-12.8M | ||
| Q1 25 | $30.7M | $-21.6M | ||
| Q4 24 | — | $15.2M | ||
| Q3 24 | $-205.7M | $-17.4M | ||
| Q2 24 | $-124.3M | $-28.1M | ||
| Q1 24 | $-1.6B | $-39.6M |
| Q4 25 | 83.6% | 59.5% | ||
| Q3 25 | 47.5% | 60.5% | ||
| Q2 25 | 51.3% | 62.1% | ||
| Q1 25 | 51.4% | 60.9% | ||
| Q4 24 | 72.1% | 60.0% | ||
| Q3 24 | 52.0% | 60.6% | ||
| Q2 24 | 52.5% | 60.0% | ||
| Q1 24 | 39.1% | 60.6% |
| Q4 25 | — | 4.5% | ||
| Q3 25 | 35.1% | 2.6% | ||
| Q2 25 | 33.8% | -1.7% | ||
| Q1 25 | 37.1% | -6.1% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | 29.9% | -4.6% | ||
| Q2 24 | 34.0% | -11.7% | ||
| Q1 24 | -1.7% | -18.4% |
| Q4 25 | — | 1.7% | ||
| Q3 25 | 32.4% | -1.1% | ||
| Q2 25 | 7.5% | -4.2% | ||
| Q1 25 | 7.0% | -8.2% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | -48.9% | -6.5% | ||
| Q2 24 | -28.5% | -12.3% | ||
| Q1 24 | -372.8% | -20.3% |
| Q4 25 | — | $0.04 | ||
| Q3 25 | $0.44 | $-0.02 | ||
| Q2 25 | $0.10 | $-0.06 | ||
| Q1 25 | $0.10 | $-0.10 | ||
| Q4 24 | — | $0.10 | ||
| Q3 24 | $-0.61 | $-0.09 | ||
| Q2 24 | $-0.36 | $-0.16 | ||
| Q1 24 | $-4.67 | $-0.23 |
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 | $319.8M |
| Total DebtLower is stronger | $3.1B | $197.1M |
| Stockholders' EquityBook value | $-89.8M | $804.6M |
| Total Assets | $4.5B | $1.5B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $319.8M | ||
| Q3 25 | $647.6M | $385.2M | ||
| Q2 25 | $531.8M | $365.3M | ||
| Q1 25 | $629.0M | $364.4M | ||
| Q4 24 | $578.0M | $366.2M | ||
| Q3 24 | $397.5M | $418.5M | ||
| Q2 24 | $445.7M | $154.7M | ||
| Q1 24 | $333.2M | $141.6M |
| Q4 25 | $3.1B | $197.1M | ||
| Q3 25 | $3.3B | $196.9M | ||
| Q2 25 | $3.2B | $196.7M | ||
| Q1 25 | $3.4B | $196.5M | ||
| Q4 24 | $3.3B | $196.3M | ||
| Q3 24 | $3.5B | $196.1M | ||
| Q2 24 | $3.6B | $184.4M | ||
| Q1 24 | $3.5B | $184.2M |
| Q4 25 | $-89.8M | $804.6M | ||
| Q3 25 | $38.1M | $689.2M | ||
| Q2 25 | $-98.4M | $673.3M | ||
| Q1 25 | $-184.4M | $676.6M | ||
| Q4 24 | $-314.4M | $676.8M | ||
| Q3 24 | $-284.7M | $474.9M | ||
| Q2 24 | $-308.3M | $217.0M | ||
| Q1 24 | $-163.2M | $191.6M |
| Q4 25 | $4.5B | $1.5B | ||
| Q3 25 | $4.7B | $1.2B | ||
| Q2 25 | $4.5B | $1.1B | ||
| Q1 25 | $4.4B | $1.1B | ||
| Q4 24 | $4.2B | $1.1B | ||
| Q3 24 | $4.6B | $869.1M | ||
| Q2 24 | $4.5B | $583.9M | ||
| Q1 24 | $4.6B | $550.3M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | 85.85× | 0.29× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.41× | ||
| Q2 24 | — | 0.85× | ||
| Q1 24 | — | 0.96× |
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 | $64.1M |
| Free Cash FlowOCF − Capex | $178.6M | $60.9M |
| FCF MarginFCF / Revenue | 70.3% | 15.4% |
| Capex IntensityCapex / Revenue | 26.9% | 0.8% |
| Cash ConversionOCF / Net Profit | — | 9.81× |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $185.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $64.1M | ||
| Q3 25 | $251.3M | $57.9M | ||
| Q2 25 | $237.7M | $42.0M | ||
| Q1 25 | $200.3M | $34.8M | ||
| Q4 24 | $344.4M | $43.7M | ||
| Q3 24 | $174.5M | $34.4M | ||
| Q2 24 | $134.7M | $31.1M | ||
| Q1 24 | $75.8M | $24.7M |
| Q4 25 | $178.6M | $60.9M | ||
| Q3 25 | $189.2M | $52.4M | ||
| Q2 25 | $197.7M | $39.7M | ||
| Q1 25 | $153.2M | $32.1M | ||
| Q4 24 | $282.9M | $35.4M | ||
| Q3 24 | $122.3M | $29.5M | ||
| Q2 24 | $74.2M | $24.4M | ||
| Q1 24 | $14.8M | $18.9M |
| Q4 25 | 70.3% | 15.4% | ||
| Q3 25 | 41.6% | 15.6% | ||
| Q2 25 | 45.6% | 12.9% | ||
| Q1 25 | 34.8% | 12.1% | ||
| Q4 24 | 111.5% | 11.3% | ||
| Q3 24 | 29.1% | 11.0% | ||
| Q2 24 | 17.0% | 10.7% | ||
| Q1 24 | 3.5% | 9.7% |
| Q4 25 | 26.9% | 0.8% | ||
| Q3 25 | 13.6% | 1.6% | ||
| Q2 25 | 9.2% | 0.8% | ||
| Q1 25 | 10.7% | 1.0% | ||
| Q4 24 | 24.2% | 2.6% | ||
| Q3 24 | 12.4% | 1.8% | ||
| Q2 24 | 13.9% | 3.0% | ||
| Q1 24 | 14.6% | 3.0% |
| Q4 25 | — | 9.81× | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | 2.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
