Company Valuation: Vodafone Group Plc

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 43,669 39,648 27,452 22,330 21,758 30,907 - -
Change - -9.21% -30.76% -18.66% -2.56% 42.05% - -
Enterprise Value (EV) 1 84,212 81,226 60,827 55,572 44,155 55,952 54,070 53,322
Change - -3.55% -25.11% -8.64% -20.54% 26.72% -3.36% -1.38%
P/E ratio 407x 20.6x 2.39x 19.6x -5.47x 16.1x 14.4x 12.2x
PBR 0.82x 0.78x 0.44x 0.37x 0.43x 0.62x 0.64x 0.6x
PEG - 0x 0x -0.2x 0x -0x 1.2x 0.7x
Capitalization / Revenue 1x 0.87x 0.6x 0.61x 0.58x 0.76x 0.73x 0.72x
EV / Revenue 1.92x 1.78x 1.33x 1.51x 1.18x 1.38x 1.28x 1.23x
EV / EBITDA 5.85x 5.34x 4.15x 5.04x 4.04x 4.88x 4.52x 4.32x
EV / EBIT 15.4x 12.1x 9.18x 11.4x 9.63x 12.8x 10.8x 9.07x
EV / FCF 16.8x 14.9x 12.6x 5.43x 17.3x 22.6x 21x 16.4x
FCF Yield 5.96% 6.69% 7.96% 18.4% 5.77% 4.42% 4.77% 6.11%
Dividend per Share 2 0.09 0.09 0.09 0.09 0.045 0.048 0.0488 0.0494
Rate of return 5.81% 6.09% 8.85% 10.9% 5.16% 3.58% 3.64% 3.69%
EPS 2 0.0038 0.0717 0.4262 0.0421 -0.1594 0.0833 0.0933 0.11
Distribution rate 2,368% 126% 21.1% 214% -28.2% 57.6% 52.2% 44.9%
Net sales 1 43,809 45,580 45,706 36,717 37,448 40,556 42,167 43,214
EBITDA 1 14,386 15,208 14,665 11,019 10,932 11,460 11,968 12,357
EBIT 1 5,463 6,690 6,624 4,861 4,584 4,364 5,016 5,878
Net income 1 112 2,088 11,838 1,140 -4,169 1,756 2,100 2,594
Net Debt 1 40,543 41,578 33,375 33,242 22,397 25,045 23,163 22,415
Reference price 2 1.548 1.477 1.017 0.825 0.871 1.340 1.340 1.340
Nbr of stocks (in thousands) 28,211,023 26,839,146 26,997,639 27,079,994 24,968,473 23,072,354 - -
Announcement Date 5/18/21 5/17/22 5/16/23 5/14/24 5/20/25 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.78x1.36x4.71x3.66% 35.8B
19.02x3.17x8.06x2.09% 218B
11.5x2.56x6.85x4.19% 185B
7.41x5.28x28.09x0.24% 163B
13.72x2.22x7.31x3.11% 62.38B
20.34x5.31x9.73x4.7% 33B
8.93x0.38x1.53x7.18% 28.61B
14.09x3.71x8.05x6.13% 23.37B
14.2x1.99x5.32x5.03% 17.1B
20.24x4.7x7.83x3.42% 15.31B
Average 14.52x 3.07x 8.75x 3.97% 78.17B
Weighted average by Cap. 13.70x 3.32x 11.51x 2.86%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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