Vodafone

VOD 217.2p -3.4  -1.5%
2:09pm 10.00k
Market Cap £58.58bn
Enterprise Value £86.86bn
Revenue £41.74bn
Value 79
Quality 39
StockRank 75

Momentum
Relative Strength (%)
1m -0.9%
3m -1.9%
1yr +4.9%
Volume Change (%)
10d v 3m -5.85%
Price vs... (%)
52w High -40.9%
50d MA -0.36%
200d MA +0.14%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 38.7
PEG Ratio (f) 2.11
EPS Growth (f) 22.4 %
Dividend Yield (f) 5.20 %
Valuation (ttm)
Price to Book Value 0.93
Price to Tang. Book 3.51
Price to Free Cashflow n/a
Price to Sales 1.40
EV to EBITDA 7.55
Margin of Safety (beta)
Screens Passed 2
vs.
market
vs.
industry
Quality
Return on Capital 2.15 %
Return on Equity -2.12 %
Operating Margin 4.75 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st Mar 2010 2011 2012 2013 2014 2015 TTM 2016E 2017E CAGR / Avg
Revenue £m 44,472 45,884 38,821 38,041 38,346 42,227 41,741 40,967 42,385 -1.0%
Operating Profit £m 9,480 5,596 5,618 -2,202 -3,913 1,967 1,983 -27.0%
Net Profit £m 8,645 7,968 6,948 413 59,254 5,761 -1,359 1,227 1,506 -7.8%
EPS Reported p 30.0 27.7 12.1 -15.7 41.8 21.4 -5.34 -6.5%
EPS Normalised p 37.6 45.7 24.8 3.93 60.7 22.0 -4.88 4.65 5.69 -10.2%
EPS Growth % +46.2 +21.5 -45.8 -84.1 +1,444 -63.8 -78.8 +22.4
PE Ratio x 10.0 n/a 47.4 38.7
PEG x n/a n/a 2.11 1.33
Profitability
Operating Margin % 21.3 12.2 14.5 -5.8 -10.2 4.7 4.75 +6.1%
ROA % 5.2 2.3 -3.0 8.6 4.7 -1.17
ROCE % 7.4 4.5 4.9 -2.0 -4.0 2.1 2.15 +2.1%
ROE % 9.0 4.1 -5.7 15.7 8.3 -2.12 +6.3%
Cashflow
Op. Cashflow ps p 45.3 41.7 36.9 32.9 23.3 36.5 38.2 -4.2%
Capex ps p 24.2 30.0 21.3 28.8 25.2 33.4 42.3 +6.6%
Free Cashflow ps p 21.1 11.7 15.6 4.13 -1.86 3.12 -4.06 -31.8%
Last ex-div: 19th Nov, paid: 3rd Feb more... Dividends
Dividend ps p 15.2 16.3 17.5 18.7 13.9 11.2 11.3 11.5 11.5 -5.9%
Dividend Growth % +6.95 +7.10 +6.97 +7.04 -25.4 -19.5 +0.72 +2.76 -0.57
Dividend Yield % 5.09 5.12 5.23 5.20
Dividend Cover x 1.97 1.70 0.70 -0.84 3.00 1.91 -0.48 0.41 0.50
Balance Sheet
Cash etc £m 4,811 6,926 8,461 12,881 14,553 10,737 5,928 +17.4%
Working Capital £m -14,397 -10,072 -4,000 -6,720 -317 -9,050 -12,701
Net Fixed Assets £m 68,508 65,659 60,037 72,536 50,430 59,236 58,364 -2.9%
Net Debt £m 31,078 27,696 25,147 22,922 10,809 19,836 26,849
Book Value £m 90,381 87,555 76,935 71,477 70,802 66,145 63,110 -6.1%
Average Shares m 28,826 28,771 27,938 26,831 26,682 26,629 26,572 -1.6%
Book Value ps p 314.6 311.2 284.1 267.9 267.8 249.5 237.7 -4.5%

FINANCIAL BRIEF: For the six months ended 30 September 2015, Vodafone Group plc revenues decreased 2% to L20.27B. Net loss totaled L1.7B vs. income of L5.42B. Revenues reflect Germany segment decrease of 12% to L3.81B, Italy segment decrease of 11% to L2.1B. Net loss reflects Investment Income decrease of 52% to L145M (income), Administrative expenses increase of 6% to L2.64B (expense). Dividend per share remained flat at L0.04. more »

Health Trend
Bankruptcy Risk
Earnings Manipulation Risk
1733     46%    C-
Magic Formula Score
C-
C-
Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 51.9 196.2
Net Gearing % 42.5 160.7
Cash / Assets % 4.92
Liquidity (ttm)
Curr. Ratio 0.56
Quick Ratio 0.54
Interest Cov. 1.86
Efficiency (ttm)
Asset Turnover 0.35
Rec's Turnover 7.15
Stock Turnover 57.4
vs.
market
vs.
industry
Recent History
Latest interim period (ended 30th Sep '15) vs. prior year
Sales Growth -2.34 %
EPS Growth n/a %
3yr Compound Annual Growth Rate
Sales Growth 2.84 %
EPS Growth -3.91 %
DPS Growth -13.7 %
Graphical History Current Fiscal Year 2016

Broker Forecasts
31st Mar 2016
31st Mar 2017

Price Target: 2.47
(+12.11% above Price)
Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: +10.4% (£) (p) (p) (£) (p) (p)
Consensus Estimate 1.26bn 4.76 11.5 1.50bn 5.68 11.5
1m Change +59.8m +0.15 +0.001 +47.9m +0.056 -0.005
3m Change -29.7m +0.004 +0.028 +19.3m -0.11 +0.019
25 brokers Broker Consensus Trend
Broker Recommendations for Vodafone
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 3 8 11 7

Named Brokers and Analysts
Stifel Nicolaus and Company, Incorporated , Jefferies Jerry Dellis , Credit Suisse Justin Funnell , BERNSTEIN Robin Bienenstock , Nomura Securities James Britton , Santander GCB John Davies , Natixis Jacques de Greling , Mirabaud Securities William Draper , Macquarie Research Guy Peddy , Societe Generale Ottavio Adorisio , ESN/Banca Akros Andrea De Vita , Berenberg Paul Marsch , Oddo Securities Vincent Maulay , Edelweiss Capital Ltd , Hamburger Sparkasse (HASPA) Tina Hecking , Charles Stanley Tom Gidley-Kitchin , Raymond James Europe RJEE/RJFI Stephane Beyazian , Haitong Research (UK) John Karidis , Morningstar, Inc. Allan C. Nichols , Day by Day Valérie GASTALDY , Landesbank Baden-Wuerttemberg Bettina Deuscher , Liberum Lawrence Sugarman , and 1 unnamed other

Profile Summary

Vodafone Group Plc (Vodafone) is a mobile communications company which provides services to mobile voice, messaging, data and fixed line. The Company’s money transfer service, M-Pesa, enables people in emerging markets, to send and receive money through a mobile phone. The Company also has products such as international money transfer, savings and loans, salary disbursements and access to insurance products in different markets. 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.

Directors: Vittorio Colao (CEO) 53, Nicholas Read (CFO) 49, Paolo Bertoluzzo (CEX) 48, Philipp Humm (CEX) 55, Serpil Timuray (CEX) 45, Johan Wibergh (CTO) 52, Rosemary Martin (GCN) 55, Ronald Schellekens (DHR) 51, Warren Finegold (OTH) 58, Nicholas Jeffery (OTH) 42, Gerard Kleisterlee (NEC) 69, Crispin Davis (NED) 66, Mathias Dopfner (NED) , Clara Furse (NED) 58, Valerie Gooding (NED) 64,

No. of Employees: 101,443 No. of Shareholders: 504,299


Last Annual March 31st, 2015
Last Interim September 30th, 2015
Incorporated July 17, 1984
Public Since October 26, 1988
Shares in Issue 26,560,376,597
Free Float 26.50bn (99.8%)

VOD Share Price Performance VODQuote
217.2p
-3.4  -1.5%
Traded 2:09pm · Minimum 15 min delayed · NMS: 10.00k

Latest VOD News Announcements (delayed)

Upcoming VOD Events
Tuesday 17th May, 2016
Full Year 2015 Vodafone Group PLC Earnings Release
Tuesday 17th May, 2016
Full Year 2015 Vodafone Group PLC Earnings Presentation
Friday 22nd July, 2016
Q1 2016 Vodafone Group PLC Trading Statement Release
Friday 29th July, 2016
Vodafone Group PLC Annual Shareholders Meeting
Tuesday 15th November, 2016
Half Year 2016 Vodafone Group PLC Earnings Release

Recent ↓
Monday 7th March, 2016
Vodafone Group PLC at Deutsche Bank Media, Internet & Telecom Conference
Friday 19th February, 2016
Vodafone Group PLC Convertible Offering Pricing
Tuesday 16th February, 2016
Vodafone Group PLC and Liberty Global to Merge Their Dutch Operations Call
Thursday 4th February, 2016
Q3 2015 Vodafone Group PLC Trading Statement Presentation
Thursday 4th February, 2016
Q3 2015 Vodafone Group PLC Trading Statement Release
Thursday 19th November, 2015
Dividend For VOD.L
Thursday 19th November, 2015
Vodafone Group PLC Convertible Offering Filing
Wednesday 18th November, 2015
Dividend For VOD.L
Wednesday 18th November, 2015
Dividend For VOD
Wednesday 18th November, 2015
Dividend For VOD.BA
Tuesday 10th November, 2015
Half Year 2015 Vodafone Group PLC Earnings Presentation
Tuesday 10th November, 2015
Half Year 2015 Vodafone Group PLC Earnings Release
Thursday 1st October, 2015
Vodafone Group PLC Investor Briefing: Delivering 5G
Monday 14th September, 2015
Vodafone Group PLC at Credit Suisse European Telecoms Conference
Tuesday 28th July, 2015
Vodafone Group PLC Annual Shareholders Meeting
Friday 24th July, 2015
Vodafone Group PLC Trading Statement for the quarter ended 30 June 2015 Presentation
Friday 24th July, 2015
Vodafone Group PLC Trading Statement for the quarter ended 30 June 2015
Tuesday 16th June, 2015
Vodafone Group PLC Investor Day: Vodafone Spain
Thursday 11th June, 2015
Dividend For VOD.L
Wednesday 10th June, 2015
Dividend For VOD.BA


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