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VOD

Vodafone Group Public Limited Company

VOD

Vodafone Group Public Limited Company • NASDAQ
$12.46 ▼ -0.12% (-0.01)
Market Cap $30.55 B
52w High $12.72
52w Low $8.00
Dividend Yield 0.49%
P/E -6.6
Volume 4.01M
Outstanding Shares 2.45B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $19.172B ▲ $9.159B ▲ $-5.233B ▼ -27.295% ▼ $-2 ▼ $5.702B ▼
Q2-2025 $18.276B ▲ $3.771B ▲ $1.064B ▼ 5.822% ▼ $0.38 ▼ $6.094B ▼
Q4-2024 $14.78B ▼ $3.588B ▼ $1.486B ▲ 10.054% ▲ $0.57 ▲ $8.514B ▲
Q2-2024 $21.937B ▼ $5.005B ▲ $-346M ▼ -1.577% ▼ $-0.13 ▼ $6.268B ▼
Q4-2023 $22.776B $4.483B $10.852B 47.647% $4 $7.421B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $13.528B ▼ $128.859B ▼ $72.25B ▼ $52.817B ▼
Q4-2025 $19.903B ▲ $138.828B ▼ $80.588B ▼ $56.975B ▼
Q2-2025 $14.587B ▲ $155.755B ▲ $88.138B ▲ $66.565B ▲
Q4-2024 $10.534B ▼ $144.35B ▼ $83.352B ▼ $59.966B ▼
Q2-2024 $13.833B $156.797B $91.618B $64.004B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $-5.233B ▼ $9.729B ▲ $2.292B ▼ $-7.945B ▼ $-6.871B ▼ $7.587B ▲
Q2-2025 $1.064B ▼ $5.644B ▼ $2.467B ▲ $-7.333B ▲ $6.871B ▲ $3.462B ▼
Q4-2024 $1.486B ▲ $11.013B ▲ $-2.314B ▲ $-9.477B ▼ $0 ▲ $9.146B ▲
Q2-2024 $-346M ▼ $5.544B ▼ $-3.808B ▼ $-6.378B ▲ $-4.597B ▼ $3.192B ▼
Q4-2023 $10.852B $11.774B $3.71B $-10.437B $-4.463B $8.98B

Five-Year Company Overview

Income Statement

Income Statement Vodafone’s sales have been broadly steady over the past few years, but the mix and profitability have weakened. The company moved from modest operating profits to a recent operating loss, suggesting pressure from competition, restructuring, and possibly asset write-downs. Reported net profits have been very volatile, with one year boosted by one‑off gains and the most recent year swinging to a sizeable loss. Overall, the income statement shows a business that still has scale but is struggling to convert that into consistent, reliable earnings.

Balance Sheet

Balance Sheet The balance sheet shows a large but gradually shrinking company. Total assets have been edging down, reflecting divestments and write‑downs as Vodafone reshapes its portfolio. Debt has been reduced over time, which lowers financial risk, but shareholders’ equity has also come down, likely due to losses, dividends, and impairments. This points to an ongoing clean‑up and simplification of the business rather than a growth phase, with a continued need to balance investment in networks against keeping leverage under control.

Cash Flow

Cash Flow Despite uneven accounting profits, Vodafone’s cash generation from operations has been fairly solid and stable. The company continues to invest heavily in its networks and infrastructure, but capital spending has been reasonably disciplined, leaving a healthy level of free cash flow most years. That free cash flow has started to soften from earlier peaks, which could limit flexibility if competitive or regulatory pressures intensify, but it still indicates that the core connectivity business throws off meaningful cash even in a tough environment.

Competitive Edge

Competitive Edge Vodafone remains one of the major telecom players in Europe and Africa, with strong brand recognition, large customer bases, and extensive fixed and mobile networks. Its business division and IoT offerings give it a differentiated position with corporate clients, and services like M‑Pesa add depth in certain markets. However, the company faces fierce price competition, heavy regulation, and mature markets in Europe. The earlier downgrade of its “moat” assessment reflects these structural headwinds and past missteps, and underscores that its scale advantage does not automatically translate into strong profitability. Portfolio moves such as exiting weaker markets and pursuing mergers are aimed at sharpening this position, but execution risk remains high.

Innovation and R&D

Innovation and R&D Vodafone is leaning on technology and innovation to reposition itself. It is investing in 5G, advanced network features like network slicing, and an emerging “network‑as‑a‑service” model for businesses. The group is a notable player in IoT connectivity and is building out cloud, security, and digital transformation services under Vodafone Business. It is also pushing Open RAN to cut costs and increase flexibility, and using AI and automation to improve network performance and customer service. These initiatives, if executed well, could deepen relationships with enterprise customers and open higher‑margin revenue streams, but they are still in transition and will take time and consistent investment to fully pay off.

Summary

Vodafone is a large, cash‑generative telecom group going through a difficult but deliberate reshaping. The numbers show steady revenues but unstable profits and a recent slide into losses, as the company restructures, divests weaker assets, and copes with intense competition. The balance sheet is being tidied up with lower debt but also reduced asset size and equity. Cash flows remain a relative strength, providing funding for network investment and strategic pivots. Competitively, Vodafone still has scale, brand, and deep enterprise relationships, yet faces structural pressures in its core European markets. Its innovation push in 5G, IoT, digital services, and AI offers potential for a stronger, more focused future profile, but outcomes depend heavily on execution, regulatory conditions, and the success of ongoing portfolio changes.

NEWS

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November 4, 2025 · 3:01 AM UTC

Vodafone IoT Partners with Iridium to Provide its Customers with NTN NB-IoT Connectivity

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October 20, 2025 · 9:00 AM UTC

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October 14, 2025 · 5:00 AM UTC

Vodafone Selects 1Finity to Advance Open RAN Initiative

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October 14, 2025 · 4:21 AM UTC

Nokia extends partnership with Vodafone and Vodacom to drive RAN innovation

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