IHS · the NYSE · USD · Market cap $2.8B · 2,344 employees
IHS Holding Limited, together with its subsidiaries, develops, owns, and operates shared communications infrastructure in Nigeria, Cameroon, Côte d'Ivoire, South Africa, and Zambia.
FAIL · Does not pass the screen
8.36 USD
At the last full screen 2026-08-26
Screened 2026-08-26 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its accumulation label.
IHS Holding Limited holds its Accumulation at $8.36. Consolidating, no directional conviction, held for 36 days.
As held on the ledger · 2026-08-26
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 36 days
Price at the screen
$8.36
Valuation
5.13 trailing · 15.20 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.74
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
78.18%
Below 33%
Interest-bearing debt is 78.2% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
20.79%
Below 49%
Money owed to the company is 20.8% of assets, under the 49% limit.
Pass
Revenue purity
2.27%
Below 5%
Only 2.3% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-08-26 screen. The gold marker is the market price at the same screen. A 1.1% margin of safety to the base estimate.
Third-party analyst targets: 4 covering, consensus None. The average target sits +2% from the screen price.
Reading the gap · Our model and the Street both land near today's price: fairly valued, with no strong edge either way.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-08-26 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Africa's Shared Towers Trade Above Fair Value
Picture a call connecting Lagos to London. The signal travels through towers owned and run by IHS across five African markets. The business model is simple, yet the shares already price in more growth than the numbers deliver. We pass because the stock sits 7% above our fair value with only 6% revenue growth and a 12% profit margin.
Forward earnings sit at 14.8 times, a multiple that looks ordinary until you notice the thin growth and the complete absence of a visible moat. Four analysts still rate it a buy with an $8 target, yet the gap between price and our assessment remains clear. Ethical checks clear, but that alone does not create an opportunity.
Currency swings, regulatory shifts in Nigeria and limited scale outside its core markets keep risk elevated. Low growth plus emerging-market exposure often produces exactly this kind of flat performance over time. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to United Kingdom and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
IHS trades on the NYSE (the company is based in United Kingdom). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-01Accumulation · changed$8.36+2.6%Entry 5
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 42%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (5 analysts) rates it none, with a mean price target of $9.
2026-08-02Markdown · changed$8.15-2.5%Entry 4
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 2.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 42%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (5 analysts) rates it none, with a mean price target of $9.
2026-07-18Accumulation$8.36+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 11% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 42%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (5 analysts) rates it none, with a mean price target of $9.
2026-07-03Accumulation$8.36+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Accumulation$8.36Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
