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IHS · NYSE · Telecommunications Services

IHS

Leases shared telecom-tower infrastructure to mobile-network operators across emerging markets.

$8.36

After-hours close−0.01 (−0.06%)

At close$8.37(+0.42%)

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Profile

IHS Holding LimitedIHSCommunication Services

Leases shared telecom-tower space and provides managed infrastructure services to mobile-network operators. Continuing operations center on Nigeria and Sub-Saharan Africa after asset sales reshaped the portfolio.

Owns and shares telecommunications towers with mobile-network operators, providing colocation and managed infrastructure services rather than consumer mobile service. The operating model grew from Nigerian tower construction into owned portfolios that can host multiple operators. Hybrid-power investments also support the infrastructure-sharing model.

Continuing operations center on Nigeria and Sub-Saharan Africa after disposals and planned sales reshaped the portfolio. Nigeria is the largest market, and the business depends on mobile-network-operator tenancy as well as local economic, currency, and regulatory conditions. A pending MTN Group acquisition remains subject to shareholder and regulatory approvals.

Company facts

CEOSam Darwish

ListedOct 14, 2021

ExchangeNYSE

HeadquartersLondon, UK

CountryUnited Kingdom

Employees2,864

CIK0001876183

ISINKYG4701H1092

Key statistics

Market cap$2.81B

EPS (ttm)$0.4040

P/E (ttm)20.69

ROE-74.6%

P/B−15.56

P/S1.81

Dividend yield—

Beta0.58vs XLC 0.05

Year to date +13.8% · Average volume (30d) 1.1M

Analysts

Price target, next 12 months$10.75+28.6%Median of 21 analysts · vs the Aug 28 close

ConsensusBuy10 of 21 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $8.36

High$22.00+163.2%

Median$10.75+28.6%

Low$5.00−40.2%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Prior rating	Rating	Prior target	Target
Feb 18, 2026	Williams Trading	Target			$17	$8.50
Feb 18, 2026	TD Cowen	Downgrade	Buy	Hold
Nov 14, 2025	JP Morgan	Downgrade	Overweight	Underweight

Earnings

EPS

Estimate$0.30

ReportedDue Nov 10, 2026

Revenue

Estimate$420.5M

ReportedDue Nov 10, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 11, 2026Q2 FY26	$0.12	−$0.04	−133.3%	$442.7M	$471.0M	+6.4%	+0.12%
May 12, 2026Q1 FY26	$0.33	$0.20	−38.5%	$439.2M	$467.2M	+6.4%	−0.12%
Mar 16, 2026Q4 FY25	$0.17	$0.98	+476.5%	$428.7M	$397.8M	−7.2%	+1.48%
Nov 12, 2025Q3 FY25	$0.10	$0.44	+340.0%	$428.7M	$455.1M	+6.2%	−6.54%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$439.6M	$433.3M	$455.1M	$254.0M	$415.4M	$428.6M
Gross profit	$225.9M	$222.3M	$216.1M	$157.6M	$231.3M	$207.1M
Operating income	$163.0M	$146.4M	$159.9M	$155.9M	$119.9M	$82.8M
Net income	$33.1M	$35.4M	$151.0M	−$75.9M	$75.8M	−$8.8M
Diluted EPS	$0.10	$0.10	$0.44	−$0.23	$0.22	−$0.03
Gross margin	51.4%	51.3%	47.5%	62.0%	55.7%	48.3%
Operating margin	37.1%	33.8%	35.1%	61.4%	28.9%	19.3%

Fiscal years (4-quarter sums)FY21 $1.58B · FY22 $1.96B · FY23 $2.13B · FY24 $1.71B · FY25 $1.58B

Revenue by geography · FY25

Nigeria$1.07B · 60%

Rest Of The World$513.2M · 29%

Brazil$186.9M · 11%

Balance sheet, Jun 30, 2026Cash & short-term investments $1.07B · Total debt $3.49B · Total assets $4.36B · Shareholders' equity −$181.7M

Dividends

No dividends on record.

Ownership

Institutions 47.13%158.69M sharesInsiders 6.40%21.55M sharesOther 46.47%156.43M shares

Shares outstanding 336.67M · Float 165.64M · 49.2% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Wendel SE	62.98M	18.71%	13F	Apr 29, 2026
Korea Investment Corp	21.67M	6.44%	13F	May 13, 2026
UBS Group AG	19.39M	5.80%	13G	Aug 5, 2026
International Finance Corporation	19.16M	5.70%	13G	Feb 17, 2026
Sam Darwish · director, officer: Chairman and CEO	13.18M	3.92%	Form 4	Apr 8, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Apr 7, 2026	Sam Darwish	director, officer: Chairman and CEO	−124,275	$8.24
Apr 7, 2026	Mohamad Darwish	officer: EVP, IHS Nigeria CEO	−27,972	$8.24
Apr 7, 2026	Stephen J. Howden	officer: EVP, Chief Financial Officer	−49,212	$8.25
Mar 18, 2026	Mohamad Darwish	officer: EVP, IHS Nigeria CEO	−16,153	$8.18
Mar 18, 2026	Stephen J. Howden	officer: EVP, Chief Financial Officer	−39,612	$8.17