Vodafone Group Valuation

Q: What is the Fair Price of VODI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

VODI (€0.85) is trading below our estimate of [[fair value]] (€1.8)

Is VODI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VODI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VODI (€0.85) is trading below our estimate of fair value (€1.8)

Significantly Below Fair Value: VODI is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VODI?

Key metric: As VODI is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VODI. This is calculated by dividing VODI's market cap by their current earnings.
What is VODI's PE Ratio?
PE Ratio	9.3x
Earnings	€2.36b
Market Cap	€22.00b

VODI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.8x
Enterprise Value/EBITDA	7.5x
PEG Ratio	2.2x

Price to Earnings Ratio vs Peers

How does VODI's PE Ratio compare to its peers?

The above table shows the PE ratio for VODI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	22.3x
ADVANC Advanced Info Service	25.7x	10.0%	฿850.6b
600050 China United Network Communications	20x	10.1%	CN¥184.4b
RCI.B Rogers Communications	17.8x	18.0%	CA$27.1b
AMX B América Móvil. de	25.6x	22.6%	Mex$945.5b
VODI Vodafone Group	9.3x	4.2%	€18.4b

Price-To-Earnings vs Peers: VODI is good value based on its Price-To-Earnings Ratio (9.3x) compared to the peer average (22.6x).

Price to Earnings Ratio vs Industry

How does VODI's PE Ratio compare vs other companies in the Global Wireless Telecom Industry?

1 Company	Price / Earnings	Estimated Growth	Market Cap

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: VODI is good value based on its Price-To-Earnings Ratio (9.3x) compared to the Global Wireless Telecom industry average (16.7x).

Price to Earnings Ratio vs Fair Ratio

What is VODI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VODI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	9.3x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VODI's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst VODI forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	€0.85	€1.09 +28.8%	26.3%	€1.69	€0.78	n/a	14
Nov ’25	€0.87	€1.11 +27.3%	26.2%	€1.68	€0.77	n/a	14
Oct ’25	€0.91	€1.14 +25.9%	27.3%	€1.66	€0.77	n/a	15
Sep ’25	€0.89	€1.13 +27.3%	27.1%	€1.66	€0.77	n/a	16
Aug ’25	€0.86	€1.14 +32.7%	25.9%	€1.66	€0.77	n/a	16
Jul ’25	€0.84	€1.13 +35.0%	26.3%	€1.66	€0.76	n/a	16
Jun ’25	n/a	€1.09 0%	25.1%	€1.57	€0.76	n/a	15
May ’25	n/a	€1.09 0%	24.6%	€1.52	€0.76	n/a	15
Apr ’25	n/a	€1.13 0%	25.7%	€1.64	€0.76	n/a	13
Mar ’25	€0.80	€1.10 +37.4%	25.4%	€1.64	€0.80	n/a	14
Feb ’25	€0.80	€1.16 +44.6%	26.2%	€1.70	€0.79	n/a	14
Jan ’25	n/a	€1.20 0%	27.2%	€1.90	€0.80	n/a	14
Dec ’24	€0.83	€1.19 +43.7%	26.4%	€1.90	€0.80	n/a	15
Nov ’24	n/a	€1.26 0%	25.4%	€1.90	€0.87	€0.87	16
Oct ’24	n/a	€1.24 0%	25.3%	€1.81	€0.86	€0.91	17
Sep ’24	n/a	€1.26 0%	24.8%	€1.81	€0.85	€0.89	16
Aug ’24	€0.90	€1.26 +40.2%	23.8%	€1.81	€0.81	€0.86	16
Jul ’24	n/a	€1.29 0%	26.6%	€2.16	€0.81	€0.84	16
Jun ’24	€0.90	€1.30 +44.2%	25.9%	€2.13	€0.81	n/a	16
May ’24	n/a	€1.33 0%	26.4%	€2.10	€0.82	n/a	18
Apr ’24	€1.01	€1.35 +33.7%	28.6%	€2.09	€0.82	n/a	17
Mar ’24	n/a	€1.37 0%	26.4%	€2.20	€0.84	€0.80	18
Feb ’24	n/a	€1.36 0%	26.1%	€2.20	€0.85	€0.80	19
Jan ’24	n/a	€1.44 0%	26.1%	€2.51	€0.91	n/a	19
Dec ’23	n/a	€1.47 0%	26.1%	€2.46	€0.91	€0.83	19
Nov ’23	n/a	€1.61 0%	22.2%	€2.45	€0.91	n/a	20

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.