Financials Vodafone Group Plc

Equities

VOD

GB00BH4HKS39

Wireless Telecommunications Services

Market Closed - London S.E. 16:35:27 15/04/2024 BST 5-day change 1st Jan Change
67.14 GBX -0.12% Intraday chart for Vodafone Group Plc -1.99% -2.07%

Valuation

Fiscal Period: März 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 44,227 34,034 43,727 39,776 27,419 21,302 - -
Enterprise Value (EV) 1 72,377 76,202 84,270 81,354 60,794 53,823 52,317 51,610
P/E ratio -6.03 x -40.6 x 408 x 20.7 x 2.38 x 13.7 x 11.5 x 9.19 x
Yield 5.54% 7.08% 5.81% 6.07% 8.86% 11.5% 8.29% 8%
Capitalization / Revenue 0.98 x 0.76 x 1 x 0.87 x 0.6 x 0.48 x 0.51 x 0.51 x
EV / Revenue 1.61 x 1.69 x 1.92 x 1.78 x 1.33 x 1.22 x 1.26 x 1.23 x
EV / EBITDA 5.12 x 5.12 x 5.86 x 5.35 x 4.15 x 4.11 x 4.16 x 4.02 x
EV / FCF 13.3 x 13.4 x 16.8 x 15 x 12.6 x 18.3 x 16 x 16 x
FCF Yield 7.52% 7.48% 5.96% 6.68% 7.96% 5.46% 6.24% 6.26%
Price to Book 0.72 x 0.61 x 0.82 x 0.79 x 0.44 x 0.35 x 0.34 x 0.33 x
Nbr of stocks (in thousands) 27,215,847 26,771,934 28,211,023 26,839,146 26,997,639 27,080,122 - -
Reference price 2 1.625 1.271 1.550 1.482 1.016 0.7866 0.7866 0.7866
Announcement Date 14/05/19 12/05/20 18/05/21 17/05/22 16/05/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 45,066 44,974 43,809 45,580 45,706 43,945 41,450 42,058
EBITDA 1 14,139 14,881 14,386 15,208 14,665 13,093 12,577 12,842
EBIT 1 4,474 4,555 5,463 6,690 6,624 4,595 4,604 5,098
Operating Margin 9.93% 10.13% 12.47% 14.68% 14.49% 10.46% 11.11% 12.12%
Earnings before Tax (EBT) 1 - 795 4,400 3,954 12,816 2,622 3,063 3,779
Net income 1 -7,444 -920 112 2,088 11,838 1,602 1,911 2,243
Net margin -16.52% -2.05% 0.26% 4.58% 25.9% 3.65% 4.61% 5.33%
EPS 2 -0.2695 -0.0313 0.003800 0.0717 0.4262 0.0576 0.0686 0.0856
Free Cash Flow 1 5,443 5,700 5,019 5,437 4,842 2,939 3,263 3,230
FCF margin 12.08% 12.67% 11.46% 11.93% 10.59% 6.69% 7.87% 7.68%
FCF Conversion (EBITDA) 38.5% 38.3% 34.89% 35.75% 33.02% 22.45% 25.95% 25.15%
FCF Conversion (Net income) - - 4,481.25% 260.39% 40.9% 183.48% 170.77% 143.99%
Dividend per Share 2 0.0900 0.0900 0.0900 0.0900 0.0900 0.0908 0.0652 0.0629
Announcement Date 14/05/19 12/05/20 18/05/21 17/05/22 16/05/23 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 Q1 2023 S1 2023 S2 2024 Q1 2024 S1 2024 S2
Net sales 1 21,939 23,035 21,427 22,382 22,489 23,091 11,278 22,930 22,776 10,740 21,937 21,908
EBITDA 7,105 7,776 7,023 7,363 7,565 7,643 - 7,244 7,421 - - -
EBIT 1,681 2,874 2,549 2,914 3,290 3,400 - 3,343 3,281 - 1,655 -
Operating Margin 7.66% 12.48% 11.9% 13.02% 14.63% 14.72% - 14.58% 14.41% - 7.54% -
Earnings before Tax (EBT) - - - - 1,276 2,678 - 1,728 11,088 - - -
Net income - 1,208 1,314 -1,202 996 1,092 - 986 10,852 - - -
Net margin - 5.24% 6.13% -5.37% 4.43% 4.73% - 4.3% 47.65% - - -
EPS - 0.0411 - -0.0407 0.0339 0.0378 - - - - -0.0128 0.0500
Dividend per Share 0.0450 0.0450 0.0450 0.0450 0.0450 0.0450 - 0.0450 0.0450 - - -
Announcement Date 12/11/19 12/05/20 16/11/20 18/05/21 16/11/21 17/05/22 15/08/22 15/11/22 16/05/23 14/08/23 14/11/23 -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 28,150 42,168 40,543 41,578 33,375 32,521 31,015 30,308
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.991 x 2.834 x 2.818 x 2.734 x 2.276 x 2.484 x 2.466 x 2.36 x
Free Cash Flow 1 5,443 5,700 5,019 5,437 4,842 2,939 3,263 3,230
ROE (net income / shareholders' equity) 2.23% 2.66% 4.08% 5.79% 6.22% 3.6% 4.12% 4.53%
ROA (Net income/ Total Assets) 1.01% 1.06% 1.48% 2.07% 2.37% 0.97% 1.11% 0.4%
Assets 1 -739,960 -86,869 7,574 100,850 498,862 165,841 172,696 560,821
Book Value Per Share 2 2.250 2.090 1.890 1.890 2.290 2.240 2.310 2.420
Cash Flow per Share 2 0.4700 0.5900 0.5800 0.6200 0.6500 0.3700 0.3600 0.3800
Capex 1 7,227 7,411 7,854 8,306 8,378 7,891 7,510 7,521
Capex / Sales 16.04% 16.48% 17.93% 18.22% 18.33% 17.96% 18.12% 17.88%
Announcement Date 14/05/19 12/05/20 18/05/21 17/05/22 16/05/23 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
0.7866 EUR
Average target price
1.096 EUR
Spread / Average Target
+39.31%
Consensus
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