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IHS vs Spok: revenue, profit, margins and growth compared

IHS brought in $1.6B of revenue in fiscal 2025, Spok $139.7M in fiscal 2025. Revenue changed by +3.6% at IHS and +1.5% at Spok on the year before, so IHS grew faster. IHS kept 9.1% of its revenue as net profit, Spok 11.4%. Free cash flow was $718.7M at IHS and $25.2M at Spok.

Side by side, latest fiscal year

IHSSPOK
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$1.6B$139.7M
Revenue growth+3.6%+1.5%
Net income$143.6M$15.9M
Net margin9.1%11.4%
Free cash flow$718.7M$25.2M
Free cash flow margin45.4%18.0%
Earnings per share (diluted)$0.42$0.75
Cash$825.7M$25.3M
Debt$3.1Bn/a
Price to earningsn/a13.9
Market value$2.8B$218.8M
Dividend yieldn/a11.95%
Rank by revenue in sector#18 of 51 · Telecommunications#39 of 51 · Telecommunications

Over the years

Revenue
IHS FY2019: $1.2BIHS FY2021: $1.4BIHS FY2021: $1.6BIHS FY2022: $2BIHS FY2023: $1.9BIHS FY2024: $1.5BIHS FY2025: $1.6BSPOK FY2018: $169.5MSPOK FY2019: $160.3MSPOK FY2020: $148.2MSPOK FY2021: $142.2MSPOK FY2022: $134.5MSPOK FY2023: $139MSPOK FY2024: $137.7MSPOK FY2025: $139.7MFY18FY19FY20FY21FY22FY23FY24FY25
IHS $1.6BSPOK $139.7M
Net income
IHS FY2019: -$423.5MIHS FY2021: -$322MIHS FY2021: -$25.8MIHS FY2022: -$459MIHS FY2023: -$2BIHS FY2024: -$1.6BIHS FY2025: $143.6MSPOK FY2018: -$1.5MSPOK FY2019: -$10.8MSPOK FY2020: -$44.2MSPOK FY2021: -$22.2MSPOK FY2022: $21.9MSPOK FY2023: $15.7MSPOK FY2024: $15MSPOK FY2025: $15.9MFY18FY19FY20FY21FY22FY23FY24FY25
IHS $143.6MSPOK $15.9M
Net margin
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%SPOK FY2018: -0.9%SPOK FY2019: -6.7%SPOK FY2020: -29.8%SPOK FY2021: -15.6%SPOK FY2022: 16.2%SPOK FY2023: 11.3%SPOK FY2024: 10.9%SPOK FY2025: 11.4%FY18FY19FY20FY21FY22FY23FY24FY25
IHS 9.1%SPOK 11.4%
Revenue growth
IHS FY2021: +14.0%IHS FY2021: +12.6%IHS FY2022: +24.2%IHS FY2023: -1.8%IHS FY2024: -20.7%IHS FY2025: +3.6%SPOK FY2019: -5.4%SPOK FY2020: -7.6%SPOK FY2021: -4.1%SPOK FY2022: -5.4%SPOK FY2023: +3.3%SPOK FY2024: -1.0%SPOK FY2025: +1.5%FY19FY20FY21FY22FY23FY24FY25
IHS +3.6%SPOK +1.5%
Free cash flow
IHS FY2021: $540.5MIHS FY2021: $512MIHS FY2022: $528.8MIHS FY2023: $388.6MIHS FY2024: $494.2MIHS FY2025: $718.7MSPOK FY2018: $4.4MSPOK FY2019: $6.9MSPOK FY2020: $22.7MSPOK FY2021: $3.6MSPOK FY2022: $2.7MSPOK FY2023: $22.8MSPOK FY2024: $25.7MSPOK FY2025: $25.2MFY18FY19FY20FY21FY22FY23FY24FY25
IHS $718.7MSPOK $25.2M

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

Questions about IHS and Spok

Which is bigger by revenue, IHS or Spok?

IHS is bigger by revenue: $1.6B in fiscal 2025, against $139.7M for Spok in fiscal 2025.

Which keeps more of its revenue as profit, IHS or Spok?

IHS had a net margin of 9.1% in fiscal 2025; Spok had 11.4% in fiscal 2025.

Which grew revenue faster, IHS or Spok?

In their latest fiscal years revenue changed by +3.6% at IHS and +1.5% at Spok.

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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