Vodafone Group PLC (VOD) fair value: what the stock is really worth
As of Nov 12, 2026: fair value (intrinsic value) of Vodafone Group PLC stock £3.54, price £1.18, upside +200.0%, quality 54 out of 100. Rating: strongly undervalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range £0.5459 – £1.32 · fair‑value band £1.92 – £5.42 · the £1.18 price screens below the £3.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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Vodafone Group provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa. It offers mobile and fixed services; connectivity business solutions, such as digital services, the Internet of Things (IoT) and financial services; and IoT platforms.
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The company also provides cloud, multi-cloud, and edge computing solutions; M-PESA, an African mobile money platform to make payments and offer financial services; and international voice and roaming services.
In addition, it offers unified communications, mobile connectivity, IoT connectivity, cloud and edge, E2E solutions, and security services; leases fibre and other fixed connectivity services; and engages in infrastructure assets, shared operations, growth platforms, retail, and service operations.
The company serves private and public sector customers in health, banking and finance, transport and logistics, retail, utilities, and agriculture industries. Vodafone Group was incorporated in 1984 and is based in Newbury, the United Kingdom.
Stock analysis
Vodafone Group PLC (VOD) currently trades at £1.18, while our model-based Fair Value estimate is £3.54, implying the stock looks roughly 67% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of £3.20 per share, and 9 of the 12 models we run sit above the £1.18 price.
Bear case: the Multiples group reads lowest at £0.4200, and 3 of the 12 models stay below the price. Data coverage for this calculation is low.
Scenario range: £1.92 (bear) to £5.42 (bull), the price of £1.18 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Communication Services sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Vodafone Group PLC reported revenue of €40.1B in FY2026 versus €45.6B in FY2022, a compound −3.2%/yr. Reported net income was −€393M in FY2026.
Key figures
Market cap £28.4B Large · P/S ratio 0.66 · EPS (TTM) £−0.0100 · Dividend yield 3.7% · Net margin −1.0% · Return on equity 0.1% · Return on assets (EBIT) 2.2% (5-year average) · Operating margin 7.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 26 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 34% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 49% fair-value upside, at 200%, VOD screens cheaper than that median.
Fair Value models
Bear£1.92Fair Value £3.54Bull£5.42
Price £1.18 · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.23/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+7.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.8%
Start year 2021 (pandemic). Over 10 years: −2.6% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.9%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
7.8% (2021) → 8.6% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−8.8%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+4.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −10.7% a year for the price and +2.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Negative
Recent news coverage is more negative than average.
AI conclusion: The joint bid for mobile satellite spectrum offers potential strength in extending remote coverage, while negative net income and high leverage stand out as the main weak point in a competitive telecom sector.
Main risk: Regulators in Portugal could renew spectrum licences for shorter periods than requested or delay decisions, which might constrain long-term network investments and reduce service quality for customers.
Bull case: Vodafone could leverage its scale and partnerships to secure longer spectrum terms and integrate software services that strengthen customer loyalty against disintermediation.
Bear case: Short spectrum terms or regulatory delays combined with Big Tech intermediaries could limit network upgrades and shift customers to alternative platforms, eroding relevance in core markets.
Vodafone joined three other major European operators in a letter of intent to bid jointly for mobile satellite spectrum and offer direct-to-device services. The plan focuses on shared European ground infrastructure to reach remote areas while leaving satellites to a partner yet to be chosen. Our models see it as undervalued. Will this extend coverage more than it adds integration complexity in core markets?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Telecom Services · 250 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)0.1% · Bottom 25%
Return on assets−0.3% · Below median
Net margin (12 months)−1.0% · Bottom 25%
Operating margin (12 months)7.8% · Below median
Growth and dividend
Revenue growth (quarter YoY)7.3% · Above median
Dividend yield (12 months)3.7% · Above median
Balance sheet
Debt / equity0.71× · Above median
Valuation Multiplesvs Telecom Services median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Vodafone Group PLC Fair Value". https://www.fairvalue-calculator.com/stock/VOD
Frequently asked questions
Is Vodafone Group PLC (VOD) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of £3.54 versus a price of £1.18, about +200% upside (undervalued).
What is the fair value of VOD?
Our model-based fair value for Vodafone Group PLC is £3.54 (as of Nov 12, 2026), built from audited fundamentals. The current price: £1.18.
What is the quality score of VOD?
Vodafone Group PLC has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Vodafone Group PLC (VOD)?
Our model-based price target is the fair value of £3.54 (as of Nov 12, 2026) from 12 valuation models. Cautious scenario £1.92, optimistic scenario £5.42. It is a calculation from audited fundamentals, not an analyst target.
What is the Vodafone Group PLC stock forecast for 2026?
Our models put fair value at £3.54, about +200% upside versus a price of £1.18 (undervalued). Cautious scenario £1.92, optimistic scenario £5.42. The calculation is refreshed regularly with new filings.
What is the revenue of Vodafone Group PLC (VOD)?
Vodafone Group PLC reported trailing-twelve-month revenue of about €40.5B (latest available figure, as of Nov 12, 2026).
Does Vodafone Group PLC pay a dividend?
Vodafone Group PLC currently shows a dividend yield of 3.69% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of Vodafone Group PLC (VOD) and when is the ex-dividend date?
Vodafone Group PLC pays a dividend of £0.0435 per share a year, a dividend yield of 3.7%. The last ex-dividend date was Jun 4, 2026. A dividend has been paid every year since at least 1990. Free cash flow covers the dividend 5.78 times. Our assessment: Cash covered. The dividend is fully funded by free cash flow. The payout ratio on earnings is not available for this company.
What growth is priced into Vodafone Group PLC (VOD)?
For today's price to be fair in a discounted-cash-flow model, Vodafone Group PLC would have to grow free cash flow by -8.8 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -1.8 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of VOD use?
Our models discount Vodafone Group PLC at 8.6 %: a base by market capitalisation (large), damped by beta 0.32, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Vodafone Group PLC that is -8.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Vodafone Group PLC (VOD) delivered so far?
Over the past 5 years revenue at Vodafone Group PLC grew -1.8 % a year. The price currently implies free-cash-flow growth of -8.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Vodafone Group PLC (VOD) growing?
The median revenue growth in the sector is +3.9 % a year. That is the yardstick for the growth priced into Vodafone Group PLC (-8.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Vodafone Group PLC (VOD)?
The free-cash-flow yield on the price is 20.55 %: that much free cash flow Vodafone Group PLC produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Vodafone Group PLC (VOD)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Vodafone Group PLC it is £3.54 per share (as of Nov 12, 2026), against a price of £1.18. It is the blended result of 12 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is Vodafone Group PLC stock overvalued or undervalued in 2026?
As of Nov 12, 2026, VOD trades below its calculated fair value: price £1.18, fair value £3.54, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of VOD?
No. The price is what the market pays today (£1.18); the fair value is what the company's own numbers justify (£3.54). For Vodafone Group PLC the two are £2.36 per share apart. That gap is exactly why we show both numbers side by side.
How much is Vodafone Group PLC worth?
The market values Vodafone Group PLC at about £28.4B (market capitalisation, as of Nov 12, 2026). Per share that is £1.18; our models calculate a fair value of £3.54 per share.
What do the bullish and bearish scenarios say about VOD?
Our models span a range for Vodafone Group PLC: cautious scenario £1.92, base £3.54, optimistic £5.42 per share (as of Nov 12, 2026, price £1.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of VOD?
The PEG ratio of Vodafone Group PLC is 0.59 (P/E divided by earnings growth, as of Nov 12, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Vodafone Group PLC (VOD)?
Balance-sheet figures for Vodafone Group PLC (as of Nov 12, 2026): return on equity 0.1%, debt of 0.71 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is VOD from its 52-week high?
Vodafone Group PLC trades at £1.18, about 10% below its 52-week high of £1.32 and 34% above the low of £0.8818 (as of Nov 12, 2026). Distance from the high says nothing about value: that is what the fair value of £3.54 is for.
Which stocks are comparable to Vodafone Group PLC?
From the same area (Communication Services) we also value China Mobile Limited, Verizon Communications Inc, T-Mobile US, Inc, AT&T Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Vodafone Group PLC stock attractive at the current price?
The data as of Nov 12, 2026: price £1.18, calculated fair value £3.54 (+200%), Quality Score 54/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of VOD calculated?
We run Vodafone Group PLC through 12 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of £3.54 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.3% above its aggregate fair value. Vodafone Group PLC currently trades 67% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Vodafone Group PLC (VOD)?
The closing price on Nov 12, 2026 was £1.18. Our model-based fair value is £3.54, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Vodafone Group PLC right now?
The price is below even our cautious bear case (£1.92). The market is more pessimistic than our downside scenario. The model range is unusually wide (£1.92 to £5.42). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Vodafone Group PLC
How large is the market capitalisation of Vodafone Group PLC (VOD)?
The market capitalisation of Vodafone Group PLC is £28.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Vodafone Group PLC (VOD)?
The price-to-sales ratio of Vodafone Group PLC is 0.66 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Vodafone Group PLC (VOD)?
Earnings per share at Vodafone Group PLC are £−0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Vodafone Group PLC (VOD)?
The dividend yield of Vodafone Group PLC is 3.7%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Vodafone Group PLC (VOD)?
The net margin of Vodafone Group PLC is −1.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Vodafone Group PLC (VOD)?
The return on equity (ROE) of Vodafone Group PLC is 0.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Vodafone Group PLC (VOD)?
On an EBIT basis the return on assets of Vodafone Group PLC is 2.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Vodafone Group PLC (VOD)?
The operating margin of Vodafone Group PLC is 7.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Vodafone Group PLC (VOD)?
Revenue at Vodafone Group PLC is growing +7.3% versus a year earlier (3y avg −4.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Vodafone Group PLC (VOD)?
Earnings per share at Vodafone Group PLC are growing −15.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Vodafone Group PLC (VOD) carry?
The net debt of Vodafone Group PLC is €43.7B (fiscal year 2026, ≈ 6.3 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 12, 2026