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Helios Towers
(LSE:HTWS)
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Rating:55Neutral
Price Target:
210.00 p
â–²(3.24% Upside)
Action:Reiterated
Date:08/17/26
The score is held back primarily by balance-sheet leverage and a thin equity cushion, despite solid operating performance and improving cash flow. A very high P/E and low dividend yield also weigh on the rating. Offsetting these, the latest earnings call was constructive with upgraded guidance, stronger free cash flow, and improving leverage, while technical indicators are broadly neutral.
Positive Factors
Contracted revenue visibility
Long-term contracted revenues provide a substantial earnings base and reduce dependence on near-term customer wins. This visibility supports planning, debt servicing and investment while excluding additional upside from renewals and new tenancies.
Negative Factors
High leverage and thin equity cushion
The highly leveraged balance sheet leaves limited protection against operating shocks, higher refinancing costs or weaker customer activity. A small and volatile equity base also reduces financial flexibility while the company continues funding network expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Contracted revenue visibility
Long-term contracted revenues provide a substantial earnings base and reduce dependence on near-term customer wins. This visibility supports planning, debt servicing and investment while excluding additional upside from renewals and new tenancies.
Read all positive factors
Helios Towers (HTWS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£2.06B
Dividend Yield<0.01%
Average Volume (3M)2.80M
Price to Earnings (P/E)127.5
Beta (1Y)1.00
Revenue Growth5.99%
EPS Growth-67.74%
CountryUK
Employees735
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.02
Shares Outstanding1,035,786,600
10 Day Avg. Volume1,446,650
30 Day Avg. Volume2,801,420
Financial Highlights & Ratios
PEG Ratio2.99
Price to Book (P/B)57.72
Price to Sales (P/S)2.67
P/FCF Ratio25.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£297.50Price Target Upside46.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.1
Revenue Forecast (FY)£948.31M
Helios Towers Business Overview & Revenue Model
Company Description
Helios Towers plc functions as an autonomous infrastructure firm, specializing in the procurement, construction, and administration of telecommunications towers and their integrated passive systems. The company provides crucial co-location space o...
How the Company Makes Money
Helios Towers primarily makes money by leasing space on its towers and providing associated site services to mobile network operators (MNOs) and other wireless service providers. Its core revenue model is based on long-term service contracts where...
Helios Towers Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call emphasised strong operational momentum, double‑digit EBITDA and revenue growth, record tenancy additions, materially higher recurring free cash flow, improved leverage and explicit upgrades to guidance — all backed by a long‑term TAM thesis (~72,000 additional tenancies to 2040). Challenges highlighted are largely execution/timing (lumpy H2 rollout), continued capital intensity, and technical limitations of satellite backhaul for dense urban demand. Overall, positives (robust growth, cash generation, balance sheet improvements, shareholder returns) substantially outweigh the manageable risks and near‑term constraints.Positive Updates
Record Tenancy Growth and Upgraded Guidance
Delivered a record >2,500 new tenancy additions in H1 (2,511 in the first 6 months). Upgraded FY'26 tenancy guidance to 3,500–4,000 additions (now targeting ~10–12% YoY growth) and added 500 incremental tenancies to the outlook (split 250 new sites / 250 colocations).
Negative Updates
Lumpy Rollout and Second‑Half Dependence
Site rollout cadence is lumpy (bulk of new site builds expected in H2). Despite strong H1 momentum, delivery of upgraded full‑year guidance depends on successful execution of back‑loaded site builds, which introduces timing risk for in‑year EBITDA recognition.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Tenancy Growth and Upgraded Guidance
Delivered a record >2,500 new tenancy additions in H1 (2,511 in the first 6 months). Upgraded FY'26 tenancy guidance to 3,500–4,000 additions (now targeting ~10–12% YoY growth) and added 500 incremental tenancies to the outlook (split 250 new sites / 250 colocations).
Read all positive updates
Company Guidance
Helios Towers upgraded FY‑26 guidance, now targeting 3,500–4,000 tenancy additions (10–12% YoY) after H1 delivered ~2,511 tenancies (including ~524 new sites) and lifted the tenancy ratio to 2.3x; adjusted EBITDA is raised to $520–535m (10–13% YoY), recurring free cash flow to $220–235m (6–11% YoY), and discretionary CapEx to $215–245m to fund growth (H1 discretionary CapEx ~£102m, total H1 CapEx ~£115m). The incremental 500-tenancy upgrade (250 new sites / 250 colocations) is expected to add ~ $5m in‑year and >$10m annualized EBITDA. Financial strength remains solid: H1 EBITDA +14% YoY, recurring FCF +52% YoY, ROIC +0.8pp, net leverage down 0.4x to 3.4x, blended cost of debt 6.7%, average debt maturity ~4 years, >$500m liquidity (including a $250m undrawn term loan), $58m of buybacks to date plus an inaugural interim dividend of 0.6p/share (~$8m), and $5.9bn of contracted future revenues with an average remaining initial contract life of 6.5 years.Helios Towers Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
34
Negative
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 902.10M | 872.02M | 792.00M | 721.00M | 560.70M | 449.10M |
| Gross Profit | 486.30M | 410.64M | 383.10M | 270.60M | 194.80M | 153.80M |
| EBITDA | 468.20M | 473.73M | 381.50M | 282.00M | 252.40M | 222.70M |
| Net Income | 28.20M | 40.02M | 33.50M | -100.10M | -171.40M | -156.20M |
Balance Sheet | ||||||
| Total Assets | 2.64B | 2.53B | 2.33B | 2.20B | 2.14B | 1.93B |
| Cash, Cash Equivalents and Short-Term Investments | 206.60M | 217.38M | 161.00M | 106.60M | 119.60M | 528.90M |
| Total Debt | 2.04B | 1.99B | 1.95B | 1.89B | 1.80B | 1.48B |
| Total Liabilities | 2.56B | 2.45B | 2.29B | 2.24B | 2.10B | 1.77B |
| Stockholders Equity | 36.30M | 40.31M | 4.70M | -68.30M | 8.30M | 168.00M |
Cash Flow | ||||||
| Free Cash Flow | 64.70M | 92.50M | 53.90M | -49.50M | -196.70M | -134.60M |
| Operating Cash Flow | 227.90M | 276.38M | 198.30M | 147.20M | 51.10M | 35.90M |
| Investing Cash Flow | -168.60M | -188.17M | -149.70M | -195.80M | -381.50M | -407.60M |
| Financing Cash Flow | -33.00M | -31.85M | 4.50M | 43.20M | -74.60M | 474.00M |
Helios Towers Technical Analysis
Negative
203.40
Price Trends
199.73
Negative
209.73
Negative
193.41
Positive
Market Momentum
-0.81
Positive
46.65
Neutral
24.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HTWS, the sentiment is Negative. The current price of 203.4 is above the 20-day moving average (MA) of 201.51, above the 50-day MA of 199.73, and above the 200-day MA of 193.41, indicating a neutral trend. The MACD of -0.81 indicates Positive momentum. The RSI at 46.65 is Neutral, neither overbought nor oversold. The STOCH value of 24.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HTWS.
Helios Towers Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | £1.02B | 14.79 | 18.45% | 1.98% | 7.45% | 8.37% | |
67 Neutral | £12.50B | 23.74 | 23.72% | 1.55% | 26.75% | 104.78% | |
62 Neutral | £29.80B | -77.36 | -0.79% | 3.05% | 11.08% | 87.73% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
55 Neutral | £2.06B | 127.51 | 73.63% | <0.01% | 5.99% | -67.74% | |
55 Neutral | £19.63B | 13.98 | 11.37% | 4.06% | -3.55% | 2.13% | |
51 Neutral | £3.82B | -68.44 | -23.48% | 12.38% | ― | ― |
* Communication Services Sector Average
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Helios Towers Corporate Events
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 600,000 Shares in Ongoing Buyback Programme
Positive
Aug 17, 2026
Helios Towers has repurchased 600,000 ordinary shares over the period 10 to 14 August 2026 as part of its ongoing share buyback programme initiated in November 2025. The purchases were executed through Jefferies across multiple trading venues at v...
Business Operations and StrategyDividends
Helios Towers Sets Dollar Exchange Rate for 2026 Interim Dividend
Positive
Aug 11, 2026
Helios Towers has confirmed the sterling-to-U.S.-dollar exchange rate for its 2026 interim dividend, previously announced at 0.604 pence gross per ordinary share and payable on 14 September to shareholders of record as of 7 August. Shareholders wh...
Business Operations and StrategyStock Buyback
Helios Towers Cancels 540,000 Shares in Ongoing Buyback Programme
Positive
Aug 10, 2026
Helios Towers plc has repurchased 540,597 ordinary shares between 3 and 7 August 2026 through Jefferies International Limited as part of its ongoing share buyback programme. The company intends to cancel all the repurchased shares rather than hold...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 600,000 Shares in Ongoing Buyback Programme
Positive
Aug 3, 2026
Helios Towers has repurchased 600,000 ordinary shares between 27 and 31 July 2026 under its ongoing share buyback programme, with transactions executed through Jefferies across multiple trading venues at volume-weighted average prices around 205 p...
Regulatory Filings and Compliance
Helios Towers Sets Out Total Voting Rights After Share Capital Update
Neutral
Jul 31, 2026
Helios Towers has confirmed that its issued ordinary share capital currently stands at 1,039,447,185 shares of £0.01 each, all carrying voting rights, with no shares held in treasury. This establishes 1,039,447,185 as the total number of voti...
Business Operations and StrategyDividends
Helios Towers Dividend May Adjust Convertible Bond Exchange Price
Positive
Jul 30, 2026
Helios Towers has notified bondholders that it has declared an interim dividend of £0.00604 per share, payable to shareholders of record on 7 August 2026. Under the terms of its U.S.$300 million 2.875% convertible bonds due 2027, of which U.S...
Business Operations and StrategyStock BuybackDividendsFinancial DisclosuresPrivate Placements and Financing
Helios Towers lifts 2026 guidance after record tenancy growth and launches first interim dividend
Positive
Jul 30, 2026
Helios Towers reported strong unaudited results for the first half of 2026, driven by record 2,511 tenancy additions year-to-date and a 13% rise in total tenancies to 34,455. Revenue grew 11% year-on-year to $466.3 million, Adjusted EBITDA rose 14...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 600,000 Shares in Ongoing Buyback
Positive
Jul 27, 2026
Helios Towers has continued its previously announced share buyback programme, repurchasing 600,000 ordinary shares between 20 and 24 July 2026 via Jefferies International at prices around 190–202 pence. The company intends to cancel all repu...
Business Operations and StrategyExecutive/Board Changes
Helios Towers reshapes board roles as Quantum stake falls below 10%
Positive
Jul 24, 2026
Helios Towers has announced a change in director responsibilities after Quantum Strategic Partners’ stake in the company fell below 10%, triggering the termination of a shareholder agreement and ending David Wassong’s role as Quantum&#...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 600,000 Shares in Ongoing Buyback
Positive
Jul 20, 2026
Helios Towers has continued its previously announced share buyback programme, repurchasing 600,000 ordinary shares between 13 July and 17 July 2026 via Jefferies International Limited at volume‑weighted average prices around 196–201 pe...
Business Operations and StrategyStock Buyback
Helios Towers Cancels 600,000 Shares in Ongoing Buyback
Positive
Jul 13, 2026
Helios Towers plc has continued to execute its share buyback programme, repurchasing 599,816 ordinary shares between 6 and 10 July 2026 through Jefferies International Limited. The company intends to cancel all of these shares rather than hold the...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 599,815 Shares in Ongoing Buyback Programme
Positive
Jul 6, 2026
Helios Towers has continued executing its share buyback programme, repurchasing 599,815 ordinary shares between 29 June and 3 July 2026 through Jefferies at volume‑weighted average prices around 198–212 pence. The company intends to ca...
Business Operations and StrategyFinancial Disclosures
Helios Towers Sets H1 2026 Results Date and Strategic Investor Briefing
Positive
Jul 1, 2026
Helios Towers will release its half-year 2026 results for the period to 30 June on 30 July and is organizing an in-person presentation for analysts and institutional investors in London, alongside a webcast and conference call with replay access v...
Business Operations and StrategyRegulatory Filings and Compliance
Helios Towers updates total voting rights as it expands telecom infrastructure footprint
Neutral
Jun 30, 2026
Helios Towers plc, a major independent mobile tower operator across Africa and the Middle East, focuses on hosting multiple mobile network operators on shared infrastructure, improving network performance, cost efficiency and environmental outcome...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 299,868 Shares Under Ongoing Buyback Programme
Positive
Jun 29, 2026
Helios Towers plc repurchased 299,868 ordinary shares between 22 June and 26 June 2026 under its ongoing share buyback programme, with purchases executed via Jefferies International Limited across several trading venues at volume-weighted average ...
Business Operations and StrategyStock Buyback
Helios Towers Cancels New Tranche of Shares Under Ongoing Buyback
Positive
Jun 22, 2026
Helios Towers has continued executing its previously announced share buyback programme, repurchasing 179,545 ordinary shares between 17 and 19 June 2026 through Jefferies International at volume‑weighted average prices around 214 to 217 penc...
Business Operations and StrategyStock Buyback
Helios Towers Completes Second Buyback Tranche and Launches $25m Third Phase
Positive
Jun 17, 2026
Helios Towers has completed the second tranche of its share buyback programme, repurchasing 212,953 ordinary shares between 15 and 16 June 2026 at volume-weighted average prices just above 221 pence per share through Merrill Lynch International. T...
Business Operations and StrategyStock Buyback
Helios Towers Cancels Latest Tranche in Ongoing Share Buyback
Positive
Jun 15, 2026
Helios Towers has continued to execute its share buyback programme, repurchasing 665,524 ordinary shares between 8 and 12 June 2026 through Merrill Lynch International at volume-weighted average prices broadly around 222 pence. The company plans t...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels Newly Repurchased Shares as Buyback Progresses
Positive
Jun 8, 2026
Helios Towers plc has repurchased 379,961 ordinary shares between 1 June and 5 June 2026 under its ongoing share buyback programme, executing the trades through Merrill Lynch International across multiple trading venues. The company intends to can...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Helios Towers Cancels 225,000 Shares in Ongoing Buyback Programme
Positive
Jun 1, 2026
Helios Towers has repurchased 224,980 ordinary shares between 26 and 29 May 2026 as part of its previously announced share buyback programme, executing the trades through Merrill Lynch International across several trading venues at volume-weighted...
Regulatory Filings and Compliance
Helios Towers Confirms Total Voting Rights at 1.04 Billion Shares
Positive
May 29, 2026
Helios Towers has confirmed that its issued share capital currently comprises 1,044,169,647 ordinary shares of £0.01 each, all carrying voting rights and with no shares held in treasury. This total, which also represents the number of voting ...
Business Operations and StrategyStock Buyback
Helios Towers Cancels 277,765 Shares in Latest Buyback Tranche
Positive
May 26, 2026
Helios Towers plc has repurchased 277,765 ordinary shares between 18 and 22 May 2026 under its ongoing share buyback programme, with trades executed via Merrill Lynch International across the London Stock Exchange and other European venues. The co...
Business Operations and StrategyStock Buyback
Helios Towers Cancels 300,000-Share Buyback, Sets New Share Count
Positive
May 18, 2026
Helios Towers has repurchased 300,628 ordinary shares between 11 and 15 May 2026 as part of its ongoing share buyback programme, executed via Merrill Lynch International across multiple trading venues. The company plans to cancel all the repurchas...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.