IHS Stock Analysis: IHS Holding | NYSE
Real Estate Services | NYSE, USA | Market Cap: 2.788m USD | 12M Return: 36.1% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 11.0M
Qual. Beats: 0
Rev. Trend: -94.7%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 4.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
IHS Holding Limited is a London-based shared communications infrastructure provider that develops, owns, and operates telecommunications towers and related network assets across five African markets: Nigeria, Cameroon, Côte dIvoire, South Africa, and Zambia. Founded in 2001, the company listed on the NYSE in October 2021 and serves a broad customer base including mobile network operators, internet service providers, broadcasters, and private corporations.
Its service portfolio spans colocation and lease amendments, build-to-suit tower sites, in-building solutions, distributed antenna systems (DAS), small cell deployment on street-level assets, fiber-to-the-tower backhaul, rural telephony, and managed services covering tower maintenance, security, and power. The business follows a tower company model in which physical infrastructure is shared among multiple tenants, with revenue generated through long-term lease agreements with communication service providers.
- Nigerian Naira devaluation pressures USD-reported revenue and margins
- High dollar debt and rising rates squeeze free cash flow
- Tower co-location and tenant additions drive organic revenue growth
| Net Income: 186.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA -0.31 > 1.0 |
| NWC/Revenue: 86.56% < 20% (prev 11.87%; Δ 74.70% < -1%) |
| CFO/TA 0.19 > 3% & CFO 865.1m > Net Income 186.3m |
| Net Debt (2.93b) to EBITDA (1.28b): 2.28 < 3 |
| Current Ratio: 2.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (343.1m) vs 12m ago 3.66% < -2% |
| Gross Margin: 53.10% > 18% (prev 50.96%; Δ 2.14% > 0.5%) |
| Asset Turnover: 34.31% > 50% (prev 39.25%; Δ -4.94% > 0%) |
| Interest Coverage Ratio: 3.05 > 6 (EBIT TTM 948.1m / Interest Expense TTM 311.0m) |
| A: 0.29 (Total Current Assets 2.69b - Total Current Liabilities 1.34b) / Total Assets 4.67b |
| B: -1.44 (Retained Earnings -6.72b / Total Assets 4.67b) |
| C: 0.21 (EBIT TTM 948.1m / Avg Total Assets 4.54b) |
| D: -0.04 (Book Value of Equity -193.3m / Total Liabilities 4.69b) |
| Altman-Z'' = -1.44 = CCC |
| DSRI: 0.74 (Receivables 192.3m/287.9m, Revenue 1.56b/1.73b) |
| GMI: 0.96 (GM 50.96% / 53.10%) |
| AQI: 0.55 (AQ_t 0.17 / AQ_t-1 0.31) |
| SGI: 0.90 (Revenue 1.56b / 1.73b) |
| TATA: -0.15 (NI 186.3m - CFO 865.1m) / TA 4.67b) |
| Beneish M = -3.63 (Cap -4..+1) = AAA |
As of July 14, 2026, the stock is trading at USD 8.22 with a total of 580,582 shares traded. Over the past week, the price has changed by -0.48%, over one month by -0.48%, over three months by -0.36% and over the past year by +36.09%.
Current recommended Stop Loss: 8.10 (which is 1.5% or 1.5 ATR below the current price).
IHS Holding has received a consensus analysts rating of 4.43. Therefore, it is recommended to buy IHS.
- StrongBuy: 4
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 8.3 | 0.4% |
P/E Trailing = 4.5246
P/E Forward = 9.311
P/S = 1.7365
P/B = 1.9644
Revenue TTM = 1.56b USD
EBIT TTM = 948.1m USD
EBITDA TTM = 1.28b USD
Long Term Debt = 2.81b USD (from longTermDebt, last quarter)
Short Term Debt = 385.2m USD (from shortTermDebt, last quarter)
Debt = 3.87b USD (from shortLongTermDebtTotal, last quarter) + Leases 366.0m
Net Debt = 2.93b USD (calculated: Debt 3.87b - CCE 940.5m)
Enterprise Value = 5.72b USD (2.79b + Debt 3.87b - CCE 940.5m)
Interest Coverage Ratio = 3.05 (Ebit TTM 948.1m / Interest Expense TTM 311.0m)
EV/FCF = 9.29x (Enterprise Value 5.72b / FCF TTM 615.0m)
FCF Yield = 10.76% (FCF TTM 615.0m / Enterprise Value 5.72b)
FCF Margin = 39.48% (FCF TTM 615.0m / Revenue TTM 1.56b)
Net Margin = 11.96% (Net Income TTM 186.3m / Revenue TTM 1.56b)
Gross Margin = 53.10% ((Revenue TTM 1.56b - Cost of Revenue TTM 730.5m) / Revenue TTM)
Gross Margin QoQ = 55.68% (prev 62.03%)
Tobins Q-Ratio = 1.22 (Enterprise Value 5.72b / Total Assets 4.67b)
Interest Expense / Debt = 8.04% (Interest Expense 311.0m / Debt 3.87b)
Taxrate = 13.26% (98.0m / 738.8m)
NOPAT = 822.3m (EBIT 948.1m * (1 - 13.26%))
Current Ratio = 2.01 (Total Current Assets 2.69b / Total Current Liabilities 1.34b)
Debt / Equity = -20.01 (negative equity) (Debt 3.87b / totalStockholderEquity, last quarter -193.3m)
Debt / EBITDA = 2.28 (Net Debt 2.93b / EBITDA 1.28b)
Debt / FCF = 4.76 (Net Debt 2.93b / FCF TTM 615.0m)
Total Stockholder Equity = -212.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 4.10% (Net Income 186.3m / Total Assets 4.67b)
RoE = -87.55% (negative equity) (Net Income TTM 186.3m / Total Stockholder Equity -212.8m)
RoCE = 36.46% (EBIT 948.1m / Capital Employed (Equity -212.8m + L.T.Debt 2.81b))
RoIC = 22.64% (NOPAT 822.3m / Invested Capital 3.63b)
WACC = 7.67% (E(2.79b)/V(6.66b) * Re(8.63%) + D(3.87b)/V(6.66b) * Rd(8.04%) * (1-Tc(0.13)))
Discount Rate = 8.63% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 55.56 | Cagr: 1.40%
[DCF] Terminal Value 75.86% ; FCFF base≈607.3m ; Y1≈626.2m ; Y5≈699.4m
[DCF] Fair Price = 23.44 (EV 10.8b - Net Debt 2.93b = Equity 7.89b / Shares 336.7m; r=8.35% [WACC [floored]]; 5y FCF grow 3.23% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.01 | # QB: 0
Revenue Correlation: -94.68 | Revenue CAGR: -11.31% | SUE: -0.10 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.12 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.33 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=0.72 | Chg30d=N/A | Revisions=+25% | GrowthEPS=+99.0% | GrowthRev=+12.1%
EPS next Year (2027-12-31): EPS=0.55 | Chg30d=N/A | Revisions=+25% | GrowthEPS=-23.6% | GrowthRev=+3.1%