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Momentum
Relative Strength (%)
1m -1.2%
3m -12.0%
1yr -7.2%
Volume Change (%)
10d v 3m -18.4%
Price vs... (%)
52w High -29.0%
50d MA -7.47%
200d MA -15.7%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 26.8
PEG Ratio (f) n/a
EPS Growth (f) -84.5 %
Dividend Yield (f) 6.07 %
Valuation (ttm)
Price to Book Value 0.71
Price to Tang. Book 2.08
Price to Free Cashflow n/a
Price to Sales 1.31
EV to EBITDA 19.5

Margin of Safety (beta)
Screens Passed 2
vs.
market
vs.
industry
Quality
Return on Capital -4.04 %
Return on Equity 15.7 %
Operating Margin -10.2 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st Mar 2009 2010 2011 2012 2013 2014 2015E 2016E CAGR / Avg
Revenue £m 41,017 44,472 45,884 38,821 38,041 38,346 42,557 43,102 -1.3%
Operating Profit £m 5,857 9,480 5,596 5,618 -2,202 -3,913
Net Profit £m 3,078 8,645 7,968 6,948 413 59,254 1,793 1,979 +80.7%
EPS Reported p 10.7 30.0 27.7 12.1 -15.7 41.8 +31.4%
EPS Normalised p 25.7 37.6 45.7 24.8 3.93 60.7 7.13 6.96 +18.7%
EPS Growth % +11.3 +46.2 +21.5 -45.8 -84.1 +1,444 -88.3 -2.33
PE Ratio x 3.12 26.6 27.2
PEG x n/a n/a n/a
Profitability
Operating Margin % 14.3 21.3 12.2 14.5 -5.8 -10.2 +7.7%
ROA % 5.6 5.2 2.3 -3.0 8.6
ROCE % 4.7 7.4 4.5 4.9 -2.0 -4.0 +2.6%
ROE % 9.8 9.0 4.1 -5.7 15.7 +6.6%
Cashflow
Op. Cashflow ps p 42.3 45.3 41.7 36.9 32.9 23.3 -11.2%
Capex ps p 24.1 24.2 30.0 21.3 28.8 25.2 +0.9%
Free Cashflow ps p 18.2 21.1 11.7 15.6 4.13 -1.86
Last ex-div: 11th Jun, paid: 6th Aug more... Dividends
Dividend ps p 14.2 15.2 16.3 17.5 18.7 13.9 11.4 11.7 -0.5%
Dividend Growth % +3.46 +6.95 +7.10 +6.96 +7.04 -25.4 -18.2 +2.98
Dividend Yield % 7.36 6.02 6.20
Dividend Cover x 0.75 1.97 1.70 0.70 -0.84 3.00 0.63 0.60
Balance Sheet
Cash etc £m 4,878 4,811 6,926 8,461 12,881 14,553 +24.4%
Working Capital £m -14,918 -14,397 -10,072 -4,000 -6,720 -317
Net Fixed Assets £m 64,732 68,508 65,659 60,037 72,536 50,430 -4.9%
Net Debt £m 36,495 34,984 31,355 26,159 26,823 14,648 -16.7%
Book Value £m 86,162 90,381 87,555 76,935 71,477 70,802 -3.9%
Average Shares m 28,892 28,826 28,771 27,938 26,831 26,682 -1.6%
Book Value ps p 301 314.6 311.2 284.1 267.9 267.8 -2.3%

FINANCIAL BRIEF: For the fiscal year ended 31 March 2014, Vodafone Group plc revenues increased 1% to L38.35B. Net income before extraordinary items totaled L11.15B vs. loss of L4.2B. Revenues reflect United Kingdom segment increase of 25% to L6.41B, Germany segment increase of 5% to L8.25B, Other operations segment increase of 42% to L684M. Net Income reflects Other Asia ,Europe, Middle East & Africa segment income increase of 50% to L510M. more »

Health Trend

Bankruptcy Risk

Earnings Manipulation Risk

2765     27%    D-
Magic Formula Score
D-
D-

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 41.2 121.1
Net Gearing % 20.7 60.7
Cash / Assets % 11.9
Liquidity (ttm)
Curr. Ratio 0.99
Quick Ratio 0.97
Interest Cov. -3.20
Efficiency (ttm)
Asset Turnover 0.29
Rec's Turnover 4.54
Stock Turnover 70.4

vs.
market
vs.
industry
Recent History
Latest interim period (ended 31st Mar '14) vs. prior year
Sales Growth -0.82 %
EPS Growth n/a %
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: 229 (+20.91% above Price) Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: -16.7% (£) (p) (p) (£) (p) (p)
Consensus Estimate 1.79bn 7.13 11.4 1.98bn 6.96 11.7
1m Change -146.6m -0.19 -0.063 +221.5m +0.38 -0.087
3m Change -554.6m -1.41 -0.034 -372.6m -2.20 -0.52
17 brokers Broker Consensus Trend
Broker Recommendations for Vodafone
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 1 15 7 6

Named Brokers and Analysts
Jefferies & Company, Inc. Jerry Dellis , Credit Suisse Justin Funnell , Sanford Bernstein Robin Bienenstock , ING FM , Nomura Securities James Britton , Jefferies International Ltd , 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 Veltman , Charles Stanley Tom Gidley-Kitchin , Raymond James Euro Equities Stephane Beyazian Sugandhi Sud , Espirito Santo Investment Bank Andrew Hogley , Morningstar, Inc. Allan Nichols , Day by Day Valérie GASTALDY , Landesbank Baden-Wuerttemberg , Liberum Lawrence Sugarman , Alphavalue Jean-Michel Salvador ,

Vodafone Group Plc (Vodafone) is a mobile communications company. The Company provides its services to mobile voice, messaging, data and fixed line. Vodafone has equity interests in telecommunications operations in nearly 30 countries and around 50 partner networks worldwide. 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 OneNet integrates landlines and mobiles providing a communication solution. 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.

Directors: Vittorio Colao (CEO) 52, Nicholas Read (CFO) 48, Paolo Bertoluzzo (CEX) 47, Philipp Humm (CEX) 54, Serpil Timuray (CEX) 43, Stephen Pusey (CTO) 52, Rosemary Martin (GCN) 53, Ronald Schellekens (DHR) 49, Warren Finegold (OTH) 56, Nicholas Jeffery (OTH) 40, Gerard Kleisterlee (NEC) 67, Valerie Gooding (NED) 62, Abdullah Al Khulaifi (IND) , Khalid Al Thani (IND) , Mohammed Al Thani (IND) ,

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


Last Annual March 31st, 2014
Last Interim March 31st, 2014
Shares in Issue 26,442,339,796
ISIN GB00BH4HKS39

VOD Share Price Performance VOD Quote
189.45p
0.5  0.3%
Traded 5:05pm · Minimum 15 min delayed · NMS: 10.00k

Latest VOD News Announcements (delayed)

Upcoming VOD Events
Friday 25th July, 2014
Vodafone Group PLC Interim Management Statement for the quarter ended 30 June 2014
Tuesday 29th July, 2014
Vodafone Group PLC Annual Shareholders Meeting
Tuesday 11th November, 2014
Interim 2014 Vodafone Group PLC Earnings Release
Wednesday 29th July, 2015 (estimate)
Vodafone Group PLC Annual Shareholders Meeting

Recent ↓
Wednesday 11th June, 2014
Dividend For VOD.BA
Wednesday 11th June, 2014
Dividend For VOD.L
Wednesday 11th June, 2014
Dividend For VOD
Tuesday 20th May, 2014
Preliminary 2013 Vodafone Group PLC Earnings Presentation
Tuesday 20th May, 2014
Preliminary 2013 Vodafone Group PLC Earnings Release
Thursday 27th March, 2014
Vodafone Group PLC 4G Webinar
Wednesday 19th March, 2014
Vodafone Group PLC at Citi European & Emerging Telecoms Conference
Monday 17th March, 2014
Vodafone Group PLC to Acquire Grupo Corporativo Ono, S.A. Conference Call
Monday 24th February, 2014
Dividend For VOD.L
Monday 24th February, 2014
Dividend For VOD


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