Vodafone Group Public Limited Company (VOD) annual results, year to 31 March 2026: revenue EUR 40,461 million, from the 20-F
Vodafone Group Public Limited Company files a 20-F with the SEC once a year, in euros. In the year to 31 March 2026 it reported revenue of EUR 40,461 million ($46.9 billion at the year's average rate), up 8.0% on the year before. Its profit attributable to shareholders was EUR -397 million, and diluted earnings per share EUR -0.02.
The year to 31 March 2026, against the year before
| Year to | Mar 2025 | Mar 2026 |
|---|---|---|
| Revenue | 37,448 | 40,461 |
| Cost of sales | 24,929 | 27,728 |
| Gross profit | 12,519 | 12,733 |
| Operating profit | -411 | 2,844 |
| Finance costs | 1,931 | 2,375 |
| Profit before tax | -1,478 | 1,864 |
| Income tax | 2,246 | 1,805 |
| Profit for the year | -3,746 | -49.0 |
| Profit attributable to shareholders | -4,169 | -397 |
| Filing | 20-F | 20-F |
EUR million, from the 20-F on the SEC's EDGAR, linked in the last row, on the IFRS tags the company filed. A line the company does not file under the standard tag is left out rather than estimated.
EUR per ordinary share, as filed.
Cash flow
| Year to | Mar 2025 | Mar 2026 |
|---|---|---|
| Cash from operations | 15,373 | 14,291 |
| Purchase of property, plant and equipment | 4,324 | 4,871 |
| Free cash flow | 11,049 | 9,420 |
| Dividends paid | 1,787 | 1,093 |
| Filing | 20-F | 20-F |
EUR million. Free cash flow is cash from operations less the purchase of property, plant and equipment, arithmetic on the two filed lines.
Balance sheet at year end
| Year to | Mar 2025 | Mar 2026 |
|---|---|---|
| Total assets | 128,521 | 129,918 |
| Equity attributable to shareholders | 52,745 | 50,633 |
| Cash and cash equivalents | 11,001 | 8,982 |
| Borrowings, as filed | 53,143 | 52,636 |
| Lease liabilities | 10,826 | 12,388 |
| Trade and other receivables | 9,404 | 10,584 |
| Inventories | 617 | 596 |
| Goodwill | 20,514 | 21,918 |
| Filing | 20-F | 20-F |
EUR million, at each fiscal year end.
Ratios on the filed lines
| Year to | Mar 2025 | Mar 2026 |
|---|---|---|
| Gross margin | 33.4% | 31.5% |
| Operating margin | -1.1% | 7.0% |
| Net margin | -11.1% | -1.0% |
| Free cash flow margin | 29.5% | 23.3% |
| Return on year-end equity | -7.9% | -0.8% |
| Effective tax rate | n/a | 96.8% |
| Filing | 20-F | 20-F |
Arithmetic on the filed lines of the same year.
The exchange rates used
| Year to | Average over the year US dollars per EUR | At the year end US dollars per EUR |
|---|---|---|
| Mar 2016 | 1.1046 | 1.1390 |
| Mar 2017 | 1.0981 | 1.0698 |
| Mar 2018 | 1.1702 | 1.2320 |
| Mar 2019 | 1.1587 | 1.1228 |
| Mar 2020 | 1.1115 | 1.1016 |
| Mar 2021 | 1.1661 | 1.1743 |
| Mar 2022 | 1.1627 | 1.1093 |
| Mar 2023 | 1.0414 | 1.0872 |
| Mar 2024 | 1.0848 | 1.0791 |
| Mar 2025 | 1.0741 | 1.0796 |
| Mar 2026 | 1.1592 | 1.1518 |
Converted by us, not by the company: the Federal Reserve's daily noon buying rates in New York (H.10), FRED series DEXUSEU. Profit and loss, cash flow and EPS use the average of the daily rates over each fiscal year; the balance sheet uses the rate on the year end, or the last one before it. Ratios are the same in either currency. The filed figures are the ones in euros.
Every annual report here
- Year to 31 March 2026, this page
- Year to 31 March 2025
- Year to 31 March 2024
- Year to 31 March 2023
- Year to 31 March 2022
- Year to 31 March 2021
- Year to 31 March 2020
- Year to 31 March 2019
- Year to 31 March 2018
- Year to 31 March 2017
- Year to 31 March 2016
Source
20-F for the year to 31 March 2026, filed 22 May 2026, accession 0001193125-26-235425: the filing on EDGAR. All of Vodafone Group Public Limited Company's filings: EDGAR company page. The figures are in euros as filed.
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