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Array Digital Infrastructure vs IHS: revenue, profit, margins and growth compared

Array Digital Infrastructure brought in $163M of revenue in fiscal 2025, IHS $1.6B in fiscal 2025. Revenue changed by -95.6% at Array Digital Infrastructure and +3.6% at IHS on the year before, so IHS grew faster. Array Digital Infrastructure kept 29.9% of its revenue as net profit, IHS 9.1%. Free cash flow was $173.6M at Array Digital Infrastructure and $718.7M at IHS.

Side by side, latest fiscal year

ADIHS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$163M$1.6B
Revenue growth-95.6%+3.6%
Net income$48.8M$143.6M
Net margin29.9%9.1%
Free cash flow$173.6M$718.7M
Free cash flow margin106.6%45.4%
Earnings per share (diluted)$0.56$0.42
Cash$113.4M$825.7M
Debt$674.3M$3.1B
Price to earnings61.6n/a
Market value$3B$2.8B
Dividend yield66.69%n/a
Rank by revenue in sector#37 of 51 · Telecommunications#18 of 51 · Telecommunications

Over the years

Revenue
AD FY2018: $4BAD FY2019: $4BAD FY2020: $4BAD FY2021: $4.1BAD FY2022: $4.2BAD FY2023: $3.8BAD FY2024: $3.7BAD FY2025: $163MIHS FY2019: $1.2BIHS FY2021: $1.4BIHS FY2021: $1.6BIHS FY2022: $2BIHS FY2023: $1.9BIHS FY2024: $1.5BIHS FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
AD $163MIHS $1.6B
Net income
AD FY2018: $150MAD FY2019: $127MAD FY2020: $229MAD FY2021: $155MAD FY2022: $30MAD FY2023: $54.5MAD FY2024: -$39.4MAD FY2025: $48.8MIHS FY2019: -$423.5MIHS FY2021: -$322MIHS FY2021: -$25.8MIHS FY2022: -$459MIHS FY2023: -$2BIHS FY2024: -$1.6BIHS FY2025: $143.6MFY18FY19FY20FY21FY22FY23FY24FY25
AD $48.8MIHS $143.6M
Net margin
AD FY2018: 3.8%AD FY2019: 3.2%AD FY2020: 5.7%AD FY2021: 3.8%AD FY2022: 0.7%AD FY2023: 1.4%AD FY2024: -1.1%AD FY2025: 29.9%IHS FY2019: -34.4%IHS FY2021: -22.9%IHS FY2021: -1.6%IHS FY2022: -23.4%IHS FY2023: -102.7%IHS FY2024: -106.9%IHS FY2025: 9.1%FY18FY19FY20FY21FY22FY23FY24FY25
AD 29.9%IHS 9.1%
Revenue growth
AD FY2019: +1.4%AD FY2020: +0.4%AD FY2021: +2.1%AD FY2022: +1.1%AD FY2023: -8.7%AD FY2024: -3.6%AD FY2025: -95.6%IHS FY2021: +14.0%IHS FY2021: +12.6%IHS FY2022: +24.2%IHS FY2023: -1.8%IHS FY2024: -20.7%IHS FY2025: +3.6%FY19FY20FY21FY22FY23FY24FY25
AD -95.6%IHS +3.6%
Free cash flow
AD FY2018: $197MAD FY2019: $74MAD FY2020: $248MAD FY2021: $78MAD FY2022: $230MAD FY2023: $826.2MAD FY2024: $864MAD FY2025: $173.6MIHS FY2021: $540.5MIHS FY2021: $512MIHS FY2022: $528.8MIHS FY2023: $388.6MIHS FY2024: $494.2MIHS FY2025: $718.7MFY18FY19FY20FY21FY22FY23FY24FY25
AD $173.6MIHS $718.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Array Digital Infrastructure and IHS

Which is bigger by revenue, Array Digital Infrastructure or IHS?

IHS is bigger by revenue: $1.6B in fiscal 2025, against $163M for Array Digital Infrastructure in fiscal 2025.

Which keeps more of its revenue as profit, Array Digital Infrastructure or IHS?

Array Digital Infrastructure had a net margin of 29.9% in fiscal 2025; IHS had 9.1% in fiscal 2025.

Which grew revenue faster, Array Digital Infrastructure or IHS?

In their latest fiscal years revenue changed by -95.6% at Array Digital Infrastructure and +3.6% at IHS.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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