Analyst Consensus ?
ConsensusHold25 ratings
Bullish1248.0%
Neutral728.0%
Bearish624.0%
Vodafone Group Public Limited Company · VOD · FY2025 Q4 · Calendar Q2 2025
Vodafone meets FY2025 guidance as merger and German recovery shape FY2026
The supplied call analysis points to a business balancing near-term execution risks with growth opportunities: cash generation and prospective UK-Three synergies support the outlook, while mobile pricing pressure, German recovery and integration execution remain important tests. The call provides evidence for the value of resilient demand and earnings growth only in Vodafone's specific context; it does not address the broader DDOG, SNOW, CRWV, AN, META, RH, WSM or ETH hypothesis.
What drove VOD's +7.8% move after FY2025 Q4 earnings?
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Reported Before market openNASDAQCommunication Services
$36.35B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
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Consensus —
EPS surprise
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Reported versus consensus
Reported revenue
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Consensus —
Revenue surprise
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Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+7.8%
Event window
SPY move
-0.3%
Same window
Abnormal move
+8.1%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-3.4%
Up to 20 sessions
VODSPY benchmark
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What drove VOD's +7.8% move after FY2025 Q4 earnings?What changed in VOD's guidance and outlook in FY2025 Q4?Give me the bull and bear case for VOD after FY2025 Q4 earnings.
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Transcript intelligence
What changed
The call analysis says FY2025 performance met guidance and describes a new FY2026 outlook. Compared with the prior-quarter analysis, the focus shifts from maintaining FY2025 guidance and advancing the UK-Three transaction to executing the merger, pursuing German recovery and delivering the new FY2026 ranges. The supplied analysis does not provide reported EPS or revenue actuals or consensus comparisons.
Guidance delta
The analysis describes FY2026 adjusted EBITDAaL guidance of €11–11.3 billion and free cash flow guidance of €2.6–2.8 billion. It characterizes guidance sentiment as maintained; no prior FY2026 ranges or reported-versus-consensus figures are supplied here for a direct numerical comparison.
Key takeaways
- The call analysis reports FY2025 performance met guidance and outlines FY2026 adjusted EBITDAaL and free cash flow ranges.
- Management expects the UK-Three merger to bring an initial EBITDAaL and free-cash-flow drag, with cost and CapEx synergies targeted by year five.
- German recovery, mobile pricing pressure and execution of integration and restructuring plans are material considerations alongside growth and cash returns.
Management priorities
- Complete UK-Three integration and pursue the stated cost and CapEx synergies.
- Improve German performance through customer experience, churn reduction, fiber upgrades and the 1&1 migration.
- Continue 5G investment and grow digital services in Africa and Turkey while pursuing simplification.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$15.6Current
$9.5Low
$14Average
$20.93High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 11, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Underweight | Equal Weight | Downgrade | Oct 20, 2026 |
| UBS | Sell | Neutral | Downgrade | Nov 3, 2025 |
| JP Morgan | Underweight | Neutral | Downgrade | Apr 23, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 12, 2023 |
| B of A Securities | Buy | Neutral | Upgrade | Jan 12, 2023 |
| Bernstein | Market Perform | Outperform | Downgrade | Aug 1, 2022 |
| Berenberg | Hold | Buy | Downgrade | Apr 5, 2022 |
| Argus Research | Hold | Buy | Downgrade | Jan 20, 2022 |
| CFRA | Buy | Buy | Maintain | May 13, 2020 |
| HSBC | Buy | Hold | Upgrade | May 24, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Mar 20, 2019 |
| Exane BNP Paribas | Neutral | Outperform | Downgrade | Mar 8, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Feb 6, 2019 |
| Raymond James | Market Perform | Strong Buy | Downgrade | Oct 9, 2018 |
| Jefferies | Hold | Buy | Downgrade | Oct 8, 2018 |
| Standpoint Research | Buy | Reduce | Upgrade | Sep 11, 2018 |
| Citigroup | Buy | Neutral | Upgrade | Sep 6, 2018 |
| Argus | Buy | Buy | Maintain | Jun 13, 2018 |
| Nomura | Buy | Neutral | Upgrade | Jun 23, 2015 |
| Santander | Underweight | Underweight | Maintain | Jun 12, 2015 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 14, 2014 |
| Redburn Partners | Buy | Neutral | Upgrade | Aug 4, 2014 |
| Espirito Santo | Sell | Neutral | Downgrade | Jul 11, 2014 |
| Oriel | Reduce | Hold | Downgrade | Mar 18, 2014 |
| Baird | Neutral | Outperform | Downgrade | Aug 30, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $15.6. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Goldman Sachs | Andrew Lee | $20.93 | $16.58 | +34.2% | Sep 4, 2026 |
| Goldman Sachs | Analyst unavailable | $11.58 | $15.57 | -25.7% | Feb 16, 2026 |
| Goldman Sachs | Analyst unavailable | $10.09 | $10.74 | -35.3% | Jul 31, 2025 |
| CFRA | Adrian Ng | $9.5 | $8.61 | -39.1% | Mar 18, 2024 |
Track every rating change on VOD the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationVodafone Group Public Limited Company, established in 1984 and based in Newbury, UK, is a global telecommunications leader delivering services across Europe and internationally. The company provides fundamental mobile services, enabling customers to make calls, send texts, and access data. Its fixed-line offerings encompass broadband internet, television packages, and voice telephony. Vodafone also integrates these services into converged solutions under brand names like GigaKombi and Vodafone One. Beyond core telecom functions, it innovates with value-added services such as a comprehensive Internet of Things (IoT) portfolio, including logistics, fleet management, smart metering, insurance, cloud computing, and security, alongside automotive and health solutions. Furthermore, Vodafone operates M-Pesa, a prominent African payment platform that facilitates money transfers, financial services, and business and merchant payments. The company expands its reach by offering services to other operators through partner market agreements and holds a strategic partnership with Open Fiber.
Historical context
All VOD earningsCommunication Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| ASTS AST SpaceMobile, Inc. | FY2026 Q3 · Calendar Q4 2026 | -8.9% | -2.3% | AST SpaceMobile: Q3 execution milestones, with launch and scale risks |
| TTD The Trade Desk, Inc. | FY2026 Q3 · Calendar Q4 2026 | +783.5% | +15.5% | Flat Q3 revenue meets outlook as Trade Desk points to product gains and Q4 growth |
| TU TELUS Corporation | FY2026 Q3 · Calendar Q4 2026 | -8.0% | -3.3% | TELUS Holds Guidance as Savings and Deleveraging Lead Q3 Strategy |
| CHTR Charter Communications, Inc. | FY2026 Q3 · Calendar Q4 2026 | -330.3% | -6.2% | Charter pivots toward internet growth as Cox integration reshapes priorities |
Latest beats and misses
Who reports nextBeat on EPS
- VGFY2026 Q3 · November 10, 2026+92.7% EPS+1.7% move
- TDGFY2026 Q4 · November 10, 2026+1.9% EPS+0.5% move
- ONONFY2026 Q3 · November 10, 2026+39.9% EPS-7.5% move
- CRWVFY2026 Q3 · November 10, 20260.0% EPS-0.5% move
- OXYFY2026 Q3 · November 9, 2026+30.8% EPS+2.0% move
- MGREFY2026 Q3 · November 9, 2026+8.1% EPS+0.6% move
Missed on EPS
- EMBJFY2026 Q3 · November 10, 2026-49.4% EPS+7.0% move
- VODFY2027 Q2 · November 10, 2026-72.8% EPS-1.2% move
- SEFY2026 Q3 · November 10, 2026-5.1% EPS-1.5% move
- BAPFY2026 Q3 · November 9, 2026-2.6% EPS+3.3% move
- JBSFY2026 Q3 · November 9, 2026-28.6% EPS-5.5% move
- CIBFY2026 Q3 · November 9, 2026-10.1% EPS-4.0% move
Get the VOD recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-05-14T21:25:34.508783+00:00
- Polygon adjusted daily market bars · 2026-11-11T00:10:56.073459+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-11T00:10:56.070443+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-11. For educational purposes only; not investment advice.