Momentum
Relative Strength (%)
1m +0.2%
3m +8.6%
1yr -6.3%
Volume Change (%)
10d v 3m -4.79%
Price vs... (%)
52w High -11.0%
50d MA +4.08%
200d MA +7.79%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 33.9
PEG Ratio (f) n/a
EPS Growth (f) -67.4 %
Dividend Yield (f) 5.10 %
Valuation (ttm)
Price to Book Value 0.85
Price to Tang. Book 2.43
Price to Free Cashflow n/a
Price to Sales 1.49
EV to EBITDA 22.5

Margin of Safety (beta)
Screens Passed 1
vs.
market
vs.
industry
Quality
Return on Capital -5.36 %
Return on Equity 1.26 %
Operating Margin -13.0 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st Mar 2009 2010 2011 2012 2013 2014 TTM 2015E 2016E CAGR / Avg
Revenue £m 41,017 44,472 45,884 38,821 38,041 38,346 40,037 42,315 42,992 -1.3%
Operating Profit £m 5,857 9,480 5,596 5,618 -2,202 -3,913 -5,192
Net Profit £m 3,078 8,645 7,968 6,948 413 59,254 46,722 1,714 1,735 +80.7%
EPS Reported p 10.7 30.0 27.7 12.1 -15.7 41.8 3.52 +31.4%
EPS Normalised p 25.7 37.6 45.7 24.8 3.93 60.7 20.0 6.36 6.72 +18.7%
EPS Growth % +11.3 +46.2 +21.5 -45.8 -84.1 +1,444 -68.8 -89.5 +5.66
PE Ratio x 3.71 11.3 35.4 33.5
PEG x n/a n/a 6.25 1.47
Profitability
Operating Margin % 14.3 21.3 12.2 14.5 -5.8 -10.2 -13.0 +7.7%
ROA % 5.6 5.2 2.3 -3.0 8.6 0.72
ROCE % 4.7 7.4 4.5 4.9 -2.0 -4.0 -5.36 +2.6%
ROE % 9.8 9.0 4.1 -5.7 15.7 1.26 +6.6%
Cashflow
Op. Cashflow ps p 42.3 45.3 41.7 36.9 32.9 23.3 22.7 -11.2%
Capex ps p 24.1 24.2 30.0 21.3 28.8 25.2 29.1 +0.9%
Free Cashflow ps p 18.2 21.1 11.7 15.6 4.13 -1.86 -6.37
Last ex-div: 20th Nov, paid: 4th Feb more... Dividends
Dividend ps p 14.2 15.2 16.3 17.5 18.7 13.9 11.1 11.3 11.5 -0.5%
Dividend Growth % +3.46 +6.95 +7.10 +6.97 +7.04 -25.4 -42.2 -19.0 +2.13
Dividend Yield % 6.20 4.92 5.02 5.12
Dividend Cover x 0.75 1.97 1.70 0.70 -0.84 3.00 0.32 0.57 0.59
Balance Sheet
Cash etc £m 4,878 4,811 6,926 8,461 12,881 14,553 9,400 +24.4%
Working Capital £m -14,918 -14,397 -10,072 -4,000 -6,720 -317 -7,574
Net Fixed Assets £m 64,732 68,508 65,659 60,037 72,536 50,430 58,563 -4.9%
Net Debt £m 35,480 31,078 27,696 25,147 22,922 11,127 20,345
Book Value £m 86,162 90,381 87,555 76,935 71,477 70,802 70,364 -3.9%
Average Shares m 28,892 28,826 28,771 27,938 26,831 26,682 26,616 -1.6%
Book Value ps p 301 314.6 311.2 284.1 267.9 267.8 265.5 -2.3%

FINANCIAL BRIEF: For the six months ended 30 September 2014, Vodafone Group plc revenues increased 9% to L20.75B. Net income before extraordinary items decreased 65% to L5.42B. Revenues reflect Italy segment increase from L0K to L2.36B, Germany segment increase of 11% to L4.33B. Net income was offset by Administrative expenses increase of 25% to L2.5B (expense), Share of result of equity accounted asso increase from L223M (income) to L35M (expense). more »

Health Trend

Bankruptcy Risk

Earnings Manipulation Risk

2458     27%    D-
Magic Formula Score
D-
D-

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 42.3 121.3
Net Gearing % 28.9 83.0
Cash / Assets % 7.60
Liquidity (ttm)
Curr. Ratio 0.72
Quick Ratio 0.70
Interest Cov. -4.47
Efficiency (ttm)
Asset Turnover 0.33
Rec's Turnover 5.72
Stock Turnover 57.3

vs.
market
vs.
industry
Recent History
Latest interim period (ended 30th Sep '14) vs. prior year
Sales Growth 8.87 %
EPS Growth -64.8 %
3yr Compound Annual Growth Rate
Sales Growth -5.81 %
EPS Growth 9.92 %
DPS Growth -5.11 %
Graphical History Current Fiscal Year 2015

Broker Forecasts
31st Mar 2015
31st Mar 2016

Price Target: 231.8 (+3.01% above Price) Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: -19.1% (£) (p) (p) (£) (p) (p)
Consensus Estimate 1.71bn 6.36 11.3 1.73bn 6.72 11.5
1m Change -27.0m -0.028 -0.032 -64.0m -0.15 -0.081
3m Change -30.8m -0.028 -0.037 -85.0m -0.18 -0.046
27 brokers Broker Consensus Trend
Broker Recommendations for Vodafone
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 4 11 8 6

Named Brokers and Analysts
Jefferies & Company, Inc. Jerry Dellis , Credit Suisse Justin Funnell , Sanford Bernstein Robin Bienenstock , ING FM , Nomura Securities James Britton , Santander GBM John Davies , Natixis Benoit Maynard Jacques de Greling , Macquarie Research Guy Peddy , Societe Generale Ottavio Adorisio , Evolution Securities (Hist) , ESN/Banca Akros Andrea De Vita , Berenberg Paul Marsch , DZ Bank , Oddo Securities Vincent Maulay , Edelweiss Capital Ltd , Hamburger Sparkasse (HASPA) Tina Hecking , Charles Stanley Tom Gidley-Kitchin , Raymond James Euro Equities Stephane Beyazian Sugandhi Sud , Espirito Santo Investment Bank Andrew Hogley , Morningstar, Inc. Allan C. Nichols , Day by Day Valérie GASTALDY , Landesbank Baden-Wuerttemberg , Liberum Lawrence Sugarman , and 1 unnamed other

Profile Summary

Vodafone Group Plc (Vodafone), is a mobile communications company. Vodafone Red offers consumers and businesses a package with mobile data allowances, unlimited calls and texts, plus cloud and back-up services to secure personal data. Vodafone Cloud allows customers to store their personal digital content, such as contacts, photos and videos in the Vodafone network and to access it on the move from any connected device. Vodafone Secure Device Manager gives customer a way to manage many of their smart devices. In July 2014, the Company announced that it has completed the disposal of 49% interest in Vodafone Fiji Limited to the Fiji National Provident Fund. Effective July 23, 2014, Vodafone Holdings Europe SLU, a wholly owned unit of Vodafone Group PLC acquired Grupo Corporativo ONO SA (ONO). On August 14, 2014, Vodafone Global Enterprise and a unit of Vodafone Group PLC acquired a 97.332% interest in Cobra Automotive Technologies SpA.

Directors: Vittorio Colao (CEO) 52, Nicholas Read (CFO) 48, Paolo Bertoluzzo (CEX) 47, Philipp Humm (CEX) 54, Serpil Timuray (CEX) 44, Stephen Pusey (CTO) 52, Rosemary Martin (GCN) 54, Ronald Schellekens (DHR) 50, Warren Finegold (OTH) 57, Nicholas Jeffery (OTH) 41, Gerard Kleisterlee (NEC) 68, Crispin Davis (NED) , Clara Furse (NED) 57, Valerie Gooding (NED) 62, Renee James (NID) 49,

No. of Employees: 92,812 No. of Shareholders: 513,672


Last Annual March 31st, 2014
Last Interim September 30th, 2014
Shares in Issue 26,508,829,687
Free Float 26.44bn (99.7%)

VOD Share Price Performance VOD Quote
225p
0.3  0.1%
Traded 12:38pm · Minimum 15 min delayed · NMS: 10.00k

Latest VOD News Announcements (delayed)

Upcoming VOD Events
Thursday 5th February, 2015
Vodafone Group PLC Interim Management Statement for the quarter ended 31 December 2014
Tuesday 19th May, 2015
Full Year 2014 Vodafone Group PLC Earnings Release
Friday 24th July, 2015
Vodafone Group PLC Interim Management Statement for the quarter ended 30 June 2015
Tuesday 10th November, 2015
Half Year 2015 Vodafone Group PLC Earnings Release
Wednesday 27th July, 2016 (estimate)
Vodafone Group PLC Annual Shareholders Meeting

Recent ↓
Wednesday 3rd December, 2014
Vodafone Group PLC at Berenberg European Conference
Thursday 20th November, 2014
Dividend For VOD.L
Thursday 20th November, 2014
Dividend For VOD.BA
Thursday 20th November, 2014
Dividend For VOD
Tuesday 11th November, 2014
Half Year 2014 Vodafone Group PLC Earnings Presentation
Tuesday 11th November, 2014
Half Year 2014 Vodafone Group PLC Earnings Release
Tuesday 7th October, 2014
Vodafone Group PLC Machine to Machine (M2M) Webinar
Thursday 18th September, 2014
Vodafone Group PLC at Bernstein Strategic Decisions Conference
Monday 15th September, 2014
Vodafone Group PLC at Credit Suisse European Telecoms 1-1 Conference
Tuesday 29th July, 2014
Vodafone Group PLC Annual Shareholders Meeting


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