VODAFONE GROUP PLC |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 73.5 GBX | -0.92% |
|
-4.77% | +7.21% |
| 10:50am | Vodafone to wire 120,000 flats in Germany for fibre optic service | AN |
| 10:23am | Monetary policy still drives investor sentiment |  |
Valuation
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 34,034 | 43,727 | 39,776 | 27,419 | 22,314 | 23,293 | - | - |
| Enterprise Value (EV) 1 | 76,202 | 84,270 | 81,354 | 60,794 | 55,556 | 53,385 | 52,745 | 49,481 |
| P/E ratio | -40.6 x | 408 x | 20.7 x | 2.38 x | 19.6 x | 10 x | 9.52 x | 8.85 x |
| Yield | 7.08% | 5.81% | 6.07% | 8.86% | 10.9% | 7.23% | 6.63% | 7.79% |
| Capitalization / Revenue | 0.76 x | 1 x | 0.87 x | 0.6 x | 0.61 x | 0.61 x | 0.58 x | 0.57 x |
| EV / Revenue | 1.69 x | 1.92 x | 1.78 x | 1.33 x | 1.51 x | 1.39 x | 1.31 x | 1.21 x |
| EV / EBITDA | 5.12 x | 5.86 x | 5.35 x | 4.15 x | 5.04 x | 4.83 x | 4.27 x | 3.91 x |
| EV / FCF | 13.4 x | 16.8 x | 15 x | 12.6 x | 5.43 x | 21.8 x | 17.5 x | 16.1 x |
| FCF Yield | 7.48% | 5.96% | 6.68% | 7.96% | 18.4% | 4.59% | 5.72% | 6.19% |
| Price to Book | 0.61 x | 0.82 x | 0.79 x | 0.44 x | - | 0.36 x | 0.35 x | 0.37 x |
| Nbr of stocks (in thousands) | 26,771,934 | 28,211,023 | 26,839,146 | 26,997,639 | 27,079,994 | 26,987,018 | - | - |
| Reference price 2 | 1.271 | 1.550 | 1.482 | 1.016 | 0.8240 | 0.8631 | 0.8631 | 0.8631 |
| Announcement Date | 5/12/20 | 5/18/21 | 5/17/22 | 5/16/23 | 5/14/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 44,974 | 43,809 | 45,580 | 45,706 | 36,717 | 38,321 | 40,351 | 40,867 |
| EBITDA 1 | 14,881 | 14,386 | 15,208 | 14,665 | 11,019 | 11,058 | 12,360 | 12,654 |
| EBIT 1 | 4,555 | 5,463 | 6,690 | 6,624 | 4,861 | 4,310 | 4,995 | 5,334 |
| Operating Margin | 10.13% | 12.47% | 14.68% | 14.49% | 13.24% | 11.25% | 12.38% | 13.05% |
| Earnings before Tax (EBT) 1 | 795 | 4,400 | 3,954 | 12,816 | 1,620 | 3,162 | 3,683 | 3,733 |
| Net income 1 | -920 | 112 | 2,088 | 11,838 | 1,140 | 2,111 | 2,382 | 2,523 |
| Net margin | -2.05% | 0.26% | 4.58% | 25.9% | 3.1% | 5.51% | 5.9% | 6.17% |
| EPS 2 | -0.0313 | 0.003800 | 0.0717 | 0.4262 | 0.0421 | 0.0860 | 0.0906 | 0.0975 |
| Free Cash Flow 1 | 5,700 | 5,019 | 5,437 | 4,842 | 10,226 | 2,448 | 3,015 | 3,064 |
| FCF margin | 12.67% | 11.46% | 11.93% | 10.59% | 27.85% | 6.39% | 7.47% | 7.5% |
| FCF Conversion (EBITDA) | 38.3% | 34.89% | 35.75% | 33.02% | 92.8% | 22.14% | 24.4% | 24.21% |
| FCF Conversion (Net income) | - | 4,481.25% | 260.39% | 40.9% | 897.02% | 115.95% | 126.58% | 121.42% |
| Dividend per Share 2 | 0.0900 | 0.0900 | 0.0900 | 0.0900 | 0.0900 | 0.0624 | 0.0572 | 0.0672 |
| Announcement Date | 5/12/20 | 5/18/21 | 5/17/22 | 5/16/23 | 5/14/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: Marzo | 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 | 23,035 | 21,427 | 22,382 | 22,489 | 23,091 | 11,278 | 22,930 | 22,776 | 10,740 | 21,937 | 14,780 |
| EBITDA | 7,776 | 7,023 | 7,363 | 7,565 | 7,643 | - | 7,244 | 7,421 | - | - | - |
| EBIT | 2,874 | 2,549 | 2,914 | 3,290 | 3,400 | - | 3,343 | 3,281 | - | 1,655 | - |
| Operating Margin | 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 | 0.0549 |
| Dividend per Share | 0.0450 | 0.0450 | 0.0450 | 0.0450 | 0.0450 | - | 0.0450 | 0.0450 | - | - | 0.0450 |
| Announcement Date | 5/12/20 | 11/16/20 | 5/18/21 | 11/16/21 | 5/17/22 | 8/15/22 | 11/15/22 | 5/16/23 | 8/14/23 | 11/14/23 | 5/14/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: Marzo | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 42,168 | 40,543 | 41,578 | 33,375 | 33,242 | 30,092 | 29,452 | 26,188 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 2.834 x | 2.818 x | 2.734 x | 2.276 x | 3.017 x | 2.721 x | 2.383 x | 2.07 x |
| Free Cash Flow 1 | 5,700 | 5,019 | 5,437 | 4,842 | 10,226 | 2,448 | 3,015 | 3,064 |
| ROE (net income / shareholders' equity) | 2.66% | 4.08% | 5.79% | 6.22% | - | 4.32% | 4.47% | 4.81% |
| ROA (Net income/ Total Assets) | 1.06% | 1.48% | 2.07% | 2.37% | - | 0.4% | 0.4% | 0.4% |
| Assets 1 | -86,869 | 7,574 | 100,850 | 498,862 | - | 527,831 | 595,533 | 630,832 |
| Book Value Per Share 2 | 2.090 | 1.890 | 1.890 | 2.290 | - | 2.370 | 2.470 | 2.310 |
| Cash Flow per Share 2 | 0.5900 | 0.5800 | 0.6200 | 0.6500 | - | 0.3200 | 0.3700 | 0.3700 |
| Capex 1 | 7,411 | 7,854 | 8,306 | 8,378 | 6,331 | 7,307 | 7,375 | 7,298 |
| Capex / Sales | 16.48% | 17.93% | 18.22% | 18.33% | 17.24% | 19.07% | 18.28% | 17.86% |
| Announcement Date | 5/12/20 | 5/18/21 | 5/17/22 | 5/16/23 | 5/14/24 | - | - | - |
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-
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
0.8631
EUR
Average target price
1.088
EUR
Spread / Average Target
+26.10%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +7.21% | 25.28B | |
| +3.54% | 195B | |
| +4.29% | 125B | |
| +36.80% | 79.54B | |
| +28.57% | 24.28B | |
| -4.61% | 16.8B | |
| +6.00% | 16.2B | |
| -9.61% | 10.06B | |
| +8.01% | 9.99B | |
| +3.39% | 8.08B |
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