IHS Holding Ltd balance sheet

At the end of fiscal 2025, IHS Holding Ltd had total assets of $4.49bn, total liabilities of $4.58bn and shareholders' equity of −$251m. It held $826m in cash against $3.14bn of debt: net debt of $2.31bn.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

IHS Holding Ltd: balance sheet, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	899	585	916	514	294	578	826
Receivables	—	327	472	663	608	313	181
Inventory	—	49	42	74	41	31	42
Total current assets	—	989	1,430	1,253	973	924	2,503
Goodwill	518	656	780	763	619	403	263
Total assets	—	4,448	5,542	6,321	5,334	4,247	4,490
Total current liabilities	—	684	831	1,266	1,188	648	1,203
Short-term debt	—	186	208	—	—	—	—
Long-term debt	—	2,017	2,401	2,906	3,057	3,219	2,842
Total debt	2,056	2,203	2,609	3,344	3,511	3,348	3,138
Total liabilities	—	3,223	3,799	4,961	5,006	4,561	4,579
Shareholders' equity	1,430	1,210	1,520	1,133	110	−473	−251
Non-controlling interests and other (assets − liabilities − equity)	—	—	223	227	219	159	162
Net debt (negative = net cash)	1,157	1,618	1,693	2,830	3,217	2,770	2,312
Shares outstanding	—	—	328m	332m	333m	333m	336m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from IHS Holding Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to IHS Holding Ltd.