IHS Holding Limited (IHS) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 205.7M | 170.4M | 251.3M | 237.7M | 200.3M | 344.31M | 174.5M | 134.7M | 75.8M | 149.91M | 220.25M | 238.61M | 235.13M | 281.64M | 286.24M | 191.31M | 148.1M | 181.88M | 198.91M | 174M |
| Operating CF Margin % | 49.52% | 67.09% | 55.22% | 54.86% | 45.56% | 78.64% | 41.52% | 30.94% | 18.15% | 29.41% | 47.16% | 43.68% | 39.02% | 53.53% | 54.91% | 40.91% | 33.2% | 43.76% | 49.66% | 43.29% |
| Operating CF Growth % | 2.7% | -50.51% | 44.01% | 76.47% | 164.25% | 129.68% | -20.77% | -43.55% | -67.76% | -46.77% | -23.05% | 24.72% | 58.76% | 54.85% | 43.91% | 9.95% | -24.2% | 36.13% | - | - |
| Net Income | 67.2M | 401.7M | 151M | 67.6M | 69.2M | 236.35M | -204.1M | -88M | -1.56B | -463.91M | -252.15M | -1.21B | 22.99M | -321.25M | -93.95M | -161.47M | 31.37M | -121.84M | -2.92M | 130.96M |
| Depreciation & Amortization | 57.1M | 92.5M | 94.8M | 89M | 89.4M | 96.69M | 96M | 87.2M | 87.57M | 95.2M | 104.93M | 116.49M | 118.96M | 126.43M | 117.47M | 114.86M | 107.84M | 99.7M | 99.25M | 94.74M |
| Stock-Based Compensation | 0 | 0 | 6M | 8.5M | 5.5M | 18.06M | 1.8M | 4.9M | 3.18M | 3.8M | 2.65M | 3.63M | 3.29M | 3.51M | 4.13M | 2.05M | 3.57M | 2.81M | 4.29M | 3.49M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 95.7M | -362.97M | -6.1M | 62.7M | 69.8M | -98.91M | 348.2M | 225.8M | 1.64B | 615.52M | 373.13M | 1.36B | 176.24M | 451.29M | 235.38M | 258.03M | 74.27M | 219.41M | 103.47M | -19.65M |
| Working Capital Changes | -14.3M | 39.17M | 5.6M | 9.9M | -33.6M | 92.1M | -67.4M | -95.2M | -96.62M | -100.71M | -8.32M | -26.32M | -86.35M | 21.66M | 23.21M | -22.16M | -68.95M | -18.19M | -5.18M | -35.54M |
| Change in Receivables | -34.3M | 27.26M | 6M | -41.6M | 10.4M | 53.57M | -67M | -111.8M | -75.25M | -96.05M | -61.97M | -49M | -88.24M | 28.11M | 12.7M | -64.17M | -118.37M | -89.54M | -42.06M | -25.15M |
| Change in Inventory | 2M | -490.77K | -400K | 4.1M | -14.2M | -9.18M | -400K | 6M | -11.44M | 15.93M | -32.55M | 28.81M | 7.91M | -7.66M | -10.37M | -23.13M | 3.41M | -2.56M | -2.89M | 7.84M |
| Change in Payables | 18M | 12.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -40.3M | 98.6M | -43.3M | -47.3M | -39.2M | 55.66M | -44.5M | -58.4M | 110.5M | -83.97M | -183.6M | -256.87M | -188.25M | -160.29M | -239.3M | -617.55M | -500.15M | -469.27M | -77.04M | -168.36M |
| Capital Expenditures | -46.4M | -82.98M | -74.4M | -46.3M | -56.5M | -75.74M | -61.9M | -62M | 110.5M | -94.03M | -138.66M | -192.5M | -141.22M | -119.03M | -173.88M | -617.55M | -500.15M | -469.27M | -81.18M | -168.36M |
| CapEx % of Revenue | 11.17% | 32.67% | 16.35% | 10.69% | 12.85% | 17.3% | 14.73% | 14.24% | 26.45% | 18.44% | 29.69% | 35.24% | 23.44% | 22.62% | 33.35% | 132.04% | 112.11% | 112.91% | 20.27% | 41.89% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 2.12M | 31.1M | 12.6M | 10M | 16.85M | 17.4M | 3.9M | 3.3M | 5.99M | 2.81M | -3.31M | -49K | 3.46M | 3.46M | -7.6M | 4.08M | 3.06M | 4.14M | 9.04M |
| Cash from Financing | -51.2M | -56.23M | -93M | -291.3M | -108.1M | -200.69M | -178.7M | 31.7M | -83.3M | -150.5M | -29.11M | 20.75M | -3.44M | -65.37M | -25.69M | 547.19M | -57.89M | 713.55M | -143.02M | 8.05M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.32M | -5.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.32M | -5.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -34.5M | -30.86M | -61.8M | -146.5M | -76.2M | -103.42M | -107.2M | -105.9M | -117.9M | -97.05M | -100.58M | -91.31M | -87.13M | -77.76M | -77.43M | -66.16M | -60.55M | 293.22M | -91M | -8.4M |
| Net Change in Cash | 114.8M | 178.1M | 118.4M | -95.9M | 51M | 180.46M | -48.2M | 112.5M | 39.4M | -131.61M | -7.61M | -82.54M | 1.51M | -16.39M | -36.83M | 58.69M | -407.88M | 415M | -40.15M | -3.75M |
| Free Cash Flow | 159.3M | 87.42M | 176.9M | 191.4M | 143.7M | 267.88M | 112.6M | 71.6M | 186.3M | 52.74M | 78.1M | 37.19M | 86.66M | 160.16M | 112.13M | -426.23M | -352.05M | -287.39M | 117.31M | 5.64M |
| FCF Margin % | 38.35% | 34.42% | 38.87% | 44.17% | 32.69% | 61.18% | 26.79% | 16.44% | 44.6% | 10.35% | 16.72% | 6.81% | 14.38% | 30.44% | 21.51% | -91.14% | -78.91% | -69.15% | 29.29% | 1.4% |
| FCF Growth % | 10.86% | -67.36% | 57.1% | 167.32% | -22.87% | 407.94% | 44.18% | 92.54% | 114.99% | -67.07% | -30.35% | 108.72% | 124.61% | 155.73% | -4.42% | -7653.29% | -1196.11% | -520.49% | - | - |
| FCF per Share | 0.46 | 0.26 | 0.52 | 0.54 | 0.43 | 0.79 | 0.34 | 0.21 | 0.56 | 0.16 | 0.23 | 0.11 | 0.26 | 0.48 | 0.33 | -1.27 | -1.05 | -0.90 | 0.36 | 0.02 |
| FCF Conversion (FCF/Net Income) | 2.71x | -2.25x | 1.66x | 6.71x | 6.05x | 1.40x | -0.85x | -1.11x | -0.05x | -0.31x | -0.83x | -0.19x | 22.22x | -1.11x | -9.32x | -1.08x | 8.97x | -2.49x | -6.53x | 1.64x |
| Interest Paid | 0 | 0 | 52.9M | 0 | 0 | 0 | 102.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |