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Vodacom Group (VOD) Fair Value & Analysis

Communication Services · ZA · Market cap 286B ZAC

VG Vodacom Group VOD · JSE
PriceR151.68
Fair ValueR235.10
Upside+55.0%
Quality89/100
Evidence: Medium Range R176.32 – R293.87

Fair value as of: Jun 26, 2026

From 26 valuation models · updated 4 days ago

Share price −0.3% over the past month.

Price vs Fair Value (12 months)

R163.88 R127.89 Fair Value R235.10 Jun 2025 Jun 2026

12‑month range R127.89 – R163.88 · fair‑value band R176.32 – R293.87 · the R151.68 price screens below the R235.10 fair value. As of Jun 26, 2026.

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Analysis

Vodacom Group (VOD) currently trades at R151.68, while our model-based Fair Value estimate is R235.10 — implying the stock looks roughly 55.0% undervalued today. We read business quality at 89/100 (high quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.

Over the trailing twelve months, Vodacom Group generated revenue of 168B ZAR at a net margin of 12.3%. Revenue grew 9.4% year over year. It earns a return on equity of 25.4%. Net debt stands at 63.0B ZAR. Fundamentals as of Jun 26, 2026

Key figures & financial health

Revenue (TTM) 168B ZAC
Revenue growth (YoY) +9.4%
Net margin 12.3%
Return on equity 25.4%
Free cash flow 30.3B ZAC FY2026
P/E ratio 14.3
More key figures
Operating margin 24.9%
EPS (TTM) R10.39
Dividend yield 0.1%
EPS growth (YoY) +17.0%
Net debt 63.0B ZAC FY2026

Figures from reported company fundamentals (EODHD) · as of Jun 26, 2026. TTM = trailing twelve months.

About the company

Vodacom Group Limited provides communications products and services in South Africa, Egypt, Kenya, and internationally. The company offers voice, messaging, converged services, broadband, data connectivity, mobile financial services, and other value-added services. It also provides mobile and fixed line connectivity, Internet of Things technology, and cloud hosting and security services, as well as the SmartCitizen mobile application for e-government solutions. In addition, the company offers financial business solutions, including point of sales, business cash advance, group schemes, trading bridge, and business legal cover. Further, it provides personal financial solutions comprising the VodaPay mobile digital payments app; VodaSure, a short- and long-term insurance coverage for devices, emergency assistance, legal advice, life, and funeral; and VodaLend, a digital funding solution. The company was incorporated in 1993 and is headquartered in Midrand, South Africa. Vodacom Group L…

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Vodacom Group reported revenue of R166B in FY2026 versus R103B in FY2022, a compound +12.8%/yr. Reported net income was R20.6B in FY2026, compounding +4.7%/yr from FY2022.

Revenue +12.8%/yr
FY22 R103B
FY23 R119B
FY24 R151B
FY25 R152B
FY26 R166B
Net income +4.7%/yr
FY22 R17.2B
FY23 R16.8B
FY24 R16.3B
FY25 R16.6B
FY26 R20.6B

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6 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jun 26, 2026).

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China Mobile Limited 600941 ¥91.93 ¥96.98 +5%
SoftBank Group SFTBF $41.03 $68.21 +66%
T-Mobile US, Inc TM5 €160.08 €166.49 +4%
Verizon Communications Inc BAC €39.83 €66.07 +66%
AT&T Inc SOBA €19.54 €45.50 +133%
Deutsche Telekom AG DTE €28.86 €34.75 +20%

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Frequently asked questions

Is Vodacom Group (VOD) undervalued?
As of Jun 26, 2026, our model estimates a fair value of R235.10 versus a price of R151.68 — about +55% (undervalued). Model-based estimate, not financial advice.
What is the fair value of VOD?
Our 21-model fair value for Vodacom Group is R235.10 (as of Jun 26, 2026), built from audited fundamentals. The current price is R151.68.
What is the quality score of VOD?
Vodacom Group has a Quality Score of 89/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of Vodacom Group (VOD)?
Vodacom Group reported trailing-twelve-month revenue of about 168B ZAR (latest available figure, as of Jun 26, 2026).
What is the net profit margin of VOD?
The net profit margin of Vodacom Group is about 12.3%, meaning it keeps roughly 12.3% of revenue as net income. Based on the latest reported figures.
Does Vodacom Group pay a dividend?
Vodacom Group currently shows a dividend yield of about 0.05% relative to its recent price (as of Jun 26, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.