© Stockopedia 29th May, 2017

Vodafone

VOD 230.2p 2.1  0.9%
26/05/17 10.00k
Market Cap £61.29bn
Enterprise Value £90.00bn
Revenue £41.26bn
Quality 36
Value 65
StockRank 64

Momentum
Relative Strength (%)
1m +9.6%
3m +8.8%
1yr -16.9%
Volume Change (%)
10d v 3m +22.4%
Price vs... (%)
52w High -4.1%
50d MA +10.2%
200d MA +9.29%
vs.
market
vs.
industry
Growth & Value
12m Forecast Rolling
PE Ratio (f) 30.3
PEG Ratio (f) n/a
EPS Growth (f) n/a %
Dividend Yield (f) 5.56 %
Valuation (ttm)
Price to Book Value 0.98
Price to Tang. Book 2.72
Price to Free Cashflow 13.2
Price to Sales 1.48
EV to EBITDA 28.2
Margin of Safety (beta)
Screens Passed

VOD doesn't qualify for any screens.
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vs.
market
vs.
industry
Quality
Return on Capital 3.00 %
Return on Equity -2.82 %
Operating Margin 7.82 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st Mar 2012 2013 2014 2015 2016 2017 2018E 2019E CAGR / Avg
Revenue €m 45,018 46,698 45,469 53,842 55,945 47,631 48,734 49,351 +1.1%
Operating Profit €m 6,515 -2,703 -4,640 2,508 1,880 3,725 -10.6%
Net Profit €m 8,057 507 70,261 7,346 -5,494 -6,297 2,288 2,760
EPS Reported 0.14 -0.19 0.50 0.27 -0.21 -0.078
EPS Normalised 0.29 0.048 0.72 0.28 -0.18 -0.069 0.085 0.10
EPS Growth % -46.6 -83.2 +1,392 -61.1 +19.2
PE Ratio x n/a 31.3 26.2
PEG x n/a 1.63 1.24
Profitability
Operating Margin % 14.5 -5.8 -10.2 4.7 3.4 7.8 +2.4%
ROA % -3.1 8.5 4.6 -3.2
ROCE % 4.7 -2.1 -4.0 1.9 1.5 3.0 +0.8%
ROE % -5.8 15.5 8.2 -6.3 -2.8 +1.8%
Cashflow
Op. Cashflow ps 0.43 0.40 0.28 0.47 0.54 0.51 +3.5%
Capex ps 0.25 0.35 0.30 0.43 0.61 0.32 +5.1%
Free Cashflow ps 0.18 0.051 -0.022 0.040 -0.070 0.19 +1.2%
Last ex-div: 8th Jun, paid: 4th Aug more... Dividends
Dividend ps 0.20 0.23 0.17 0.14 0.16 0.048 0.15 0.15 -25.1%
Dividend Growth % +5.41 +13.3 -27.9 -13.5 +9.28 -69.5 +208.7 +1.29
Dividend Yield % 1.80 5.54 5.62
Dividend Cover x 0.70 -0.84 3.00 1.91 -1.32 -1.64 0.58 0.68
Balance Sheet
Cash etc €m 10,152 15,276 17,609 14,826 18,259 14,955 +8.1%
Working Capital €m -4,800 -7,969 -383.6 -12,496 -6,640 -5,053
Net Fixed Assets €m 72,037 86,021 61,022 81,793 74,948 82,922 +2.9%
Net Debt €m 30,174 27,183 13,079 28,065 39,090 31,619
Book Value €m 92,313 84,765 85,672 91,333 83,325 72,200 -4.8%
Average Shares m 27,938 26,831 26,682 26,629 26,692 27,971 +0.02%
Book Value ps 3.41 3.18 3.24 3.44 3.14 2.71 -4.5%

FINANCIAL BRIEF: For the fiscal year ended 31 March 2017, Vodafone Group plc revenues decreased 4% to EUR47.63B. Net loss before extraordinary items decreased 60% to EUR2.19B. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects Other income and expense decrease from EUR286M (expense) to EUR1.05B (income), Financing Costs decrease of 31% to EUR1.41B (expense). more »

Health Trend
Bankruptcy Risk
Earnings Manipulation Risk
1537     45%    C-
Magic Formula Score
C-
C-
Other Ratios
Leverage (ttm) Total -Intang +Pension
Gross Gearing % 64.5 179.3 65.3
Net Gearing % 43.8 121.7 44.6
Cash / Assets % 9.67 9.71
Liquidity (ttm)
Curr. Ratio 0.83
Quick Ratio 0.82
Interest Cov. 4.00
Efficiency (ttm)
Asset Turnover 0.31
Rec's Turnover 5.96
Stock Turnover 53.5
vs.
market
vs.
industry
Recent History
Latest interim period (ended 31st Mar '17) vs. prior year
Sales Growth -26.0 %
EPS Growth n/a %
3yr Compound Annual Growth Rate
Sales Growth 1.56 %
EPS Growth n/a %
DPS Growth -33.9 %
Graphical History Current Fiscal Year 2018

Broker Forecasts
31st Mar 2018
31st Mar 2019

Price Target: €2.75
(+3.71% above Price)
Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: +13.1% (€) (€) (€) (€) (€) (€)
Consensus Estimate 2.29bn 0.085 0.15 2.76bn 0.10 0.15
1m Change +294.4m +0.008 +0.001 +218.0m +0.003 +0.001
3m Change +108.8m +0.007 -0.001 +6.51m +0.001 -0.001
21 brokers Broker Consensus Trend
Broker Recommendations for Vodafone
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 2 10 8 6

Named Brokers and Analysts
Stifel Nicolaus and Company, Incorporated , Credit Suisse Justin Funnell , BERNSTEIN Dhananjay Mirchandani , Nomura Securities , Santander GCB John Davies , Natixis , Mirabaud Securities William Draper , Macquarie Research , Societe Generale Ottavio Adorisio , ESN/Banca Akros Andrea De Vita , Berenberg Paul Marsch , Oddo Securities Vincent Maulay , Hamburger Sparkasse (HASPA) , Raymond James Europe RJEE/RJFI Stephane Beyazian , Haitong Research (UK) , Morningstar, Inc. Allan C. Nichols , Day by Day Valérie GASTALDY , Landesbank Baden-Wuerttemberg Bettina Deuscher , Beaufort Securities Ben Maitland ,

Profile Summary

Vodafone Group Plc (Vodafone) is a telecommunications company. The Company's business is organized into two geographic regions: Europe, and Africa, Middle East and Asia Pacific (AMAP). Its segments include Europe and AMAP. Its Europe segment includes geographic regions, such as Germany, Italy, the United Kingdom, Spain and Other Europe. The Other Europe includes the Netherlands, Portugal, Greece, Hungary and Romania, among others. Its AMAP segment includes India, South Africa, Tanzania, Mozambique, Lesotho, Africa, Turkey, Australia, Egypt, Ghana, Kenya, New Zealand and Qatar, among others. The Company provides a range of services, including voice, messaging and data across mobile and fixed networks. The Company acquires spectrum and licenses to use radio frequencies that deliver mobile services. Its fixed capabilities include cable, fiber and copper networks to enable television, broadband and voice services.

Directors: Vittorio Colao (CEO) 55, Nicholas Read (CFO) 49, Hannes Ametsreiter (CEX) 50, Vivek Badrinath (CEX) 48, Aldo Bisio (CEX) , Antonio Coimbra (CEX) , Ahmed Essam (CEX) , Jeroen Hoencamp (CEX) , Nicholas Jeffery (CEX) 43, Johan Wibergh (CTO) 54, Gerard Kleisterlee (NEC) 70, Crispin Davis (NID) 67, Mathias Dopfner (NID) 53, Clara Furse (NID) 60, Valerie Gooding (NID) 65,

No. of Employees: 107,667 No. of Shareholders: n/a


Last Annual March 31st, 2017
Last Interim March 31st, 2017
Incorporated July 17, 1984
Public Since October 26, 1988
Shares in Issue 26,623,288,193
Free Float 26.52bn (99.6%)

VOD Share Price Performance VODQuote
230.2p
2.1  0.9%
Traded 5:04pm · Minimum 15 min delayed · NMS: 10.00k

Latest VOD News Announcements (delayed)

Upcoming VOD Events
Wednesday 7th June, 2017
Dividend For VOD
Thursday 8th June, 2017
Dividend For VOD
Friday 21st July, 2017
Q1 2018 Vodafone Group PLC Trading Statement Release
Friday 28th July, 2017
Vodafone Group PLC Annual Shareholders Meeting
Tuesday 14th November, 2017
Half Year 2018 Vodafone Group PLC Earnings Release

Recent ↓
Tuesday 16th May, 2017
Full Year 2016/2017 Vodafone Group PLC Earnings Presentation
Tuesday 16th May, 2017
Full Year 2016/2017 Vodafone Group PLC Earnings Release
Thursday 23rd March, 2017
Vodafone Group PLC at Deutsche Bank Depositary Receipts Virtual Investor Conference
Wednesday 22nd March, 2017
Vodafone Group PLC at Citi European & Emerging Markets Telecoms Conference
Monday 6th March, 2017
Vodafone Group PLC at Deutsche Bank Media, Internet and Telecom Conference
Thursday 2nd February, 2017
Q3 2016 Vodafone Group PLC Trading Statement Presentation
Thursday 2nd February, 2017
Q3 2016 Vodafone Group PLC Trading Statement Release
Tuesday 6th December, 2016
Vodafone Group PLC at Berenberg European Conference
Thursday 24th November, 2016
Dividend For VOD
Tuesday 22nd November, 2016
Dividend For VOD
Tuesday 22nd November, 2016
Dividend For VOD
Tuesday 15th November, 2016
Half Year 2016 Vodafone Group PLC Earnings Presentation
Tuesday 15th November, 2016
Half Year 2016 Vodafone Group PLC Earnings Release
Thursday 29th September, 2016
Vodafone Group PLC Open Office Germany
Wednesday 21st September, 2016
Vodafone Group PLC at Goldman Sachs Communacopia Conference
Friday 16th September, 2016
Vodafone Group PLC European Telecoms Framework Call
Thursday 1st September, 2016
Vodafone Group PLC at Credit Suisse European Telecoms Conference
Friday 29th July, 2016
Vodafone Group PLC Annual Shareholders Meeting
Friday 22nd July, 2016
Q1 2016 Vodafone Group PLC Trading Statement Presentation
Friday 22nd July, 2016
Q1 2016 Vodafone Group PLC Trading Statement Release


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