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Vodafone Group Plc Balance Sheet 2025-2011 | VOD
Brief overview of Vodafone Group Plc's assets and capital
This overview follows the five latest available annual observations between 2014 and 2020.
The asset base gained +15.3%, from €145.8 billion to €168.2 billion; average annual growth of 2.4% remained moderate.
Assets outpaced liabilities, +15.3% versus -27.6%. Dependence on external funding declined.
The share of internal funding stands at 37.2% versus initially, providing a reasonable foundation.
Net debt equals about 0.71x of equity. The burden is manageable, but further growth would warrant attention.
Retained earnings remain negative at -€120.3 billion. This may reflect past losses or substantial shareholder distributions, so earnings and buybacks provide important context.
Balance sheet takeaway
Vodafone Group Plc retains a reasonably healthy balance sheet structure, which still needs support from earnings and cash flow.
Annual Balance Sheet Vodafone Group Plc
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | - | - | - | - | 44.7 B | 35 B | - | 25.7 B | - | 13.3 B | 5.41 B | 14.7 B | -3.69 B | 10.8 B |
Long Term Debt |
- | - | - | - | - | 58 B | 48.7 B | - | 34.5 B | 41 M | 41 M | 41 M | 1.45 B | 1.55 B | 4.87 B |
Total Non Current Liabilities |
51.9 B | 54.1 B | 58.5 B | 63.3 B | 68.5 B | - | 53.9 B | - | 47.4 B | 2.18 B | 2.18 B | 2.18 B | 3.5 B | 3.07 B | 6.33 B |
Total Liabilities |
- | - | - | - | - | 106 B | 79.4 B | - | 81 B | -7.96 B | 146 B | 146 B | 142 B | 147 B | 38.6 B |
Deferred Revenue |
- | - | - | - | - | 6.77 B | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-124 B | -115 B | -113 B | -122 B | -122 B | -120 B | -117 B | - | -106 B | - | - | - | - | - | - |
Total Assets |
129 B | 144 B | 156 B | 154 B | 155 B | 168 B | 152 B | 146 B | 155 B | 70 B | 146 B | 146 B | 142 B | 147 B | 138 B |
Cash and Cash Equivalents |
11 B | 6.18 B | 11.7 B | 7.5 B | 5.82 B | 13.6 B | 13.6 B | 4.67 B | 8.84 B | - | - | - | - | - | - |
Book Value |
129 B | 144 B | 156 B | 154 B | 155 B | 62.6 B | 73.1 B | 146 B | 73.7 B | 78 B | - | - | - | - | 99.4 B |
Total Shareholders Equity |
53.9 B | 61 B | 64.5 B | 57.6 B | 57.8 B | 62.6 B | 63.2 B | 70.9 B | 73.7 B | 85.1 B | - | - | - | - | - |
All numbers in EUR currency
Quarterly Balance Sheet Vodafone Group Plc
| 2026-Q2 | 2025-Q4 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Non Current Liabilities |
50.6 B | 58.5 B | 52.9 B | 51.9 B | 56.5 B | 57.5 B | 54.1 B | 63.3 B | 65.2 B | 58.5 B | - | - | - | 63.3 B | - | 65.9 B | - | 68.5 B | - | 71 B | - | 72.2 B | - | 72.7 B | - | 53.9 B | - | 47.7 B | - | 38 B | - | - | - | 38.6 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-123 B | -113 B | -116 B | -124 B | -113 B | -115 B | -115 B | -122 B | -123 B | -113 B | - | - | - | -122 B | - | -122 B | - | -122 B | - | -120 B | - | -120 B | - | -120 B | - | -117 B | - | -115 B | - | -107 B | - | - | - | -106 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
129 B | 156 B | 140 B | 129 B | 156 B | 148 B | 144 B | 154 B | 157 B | 156 B | - | - | - | 154 B | - | 154 B | - | 155 B | - | 157 B | - | 168 B | - | 160 B | - | 143 B | - | 134 B | - | 146 B | - | - | - | 155 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
7.09 B | 4.17 B | 7.01 B | 11 B | 3.92 B | 7.15 B | 6.18 B | 2.22 B | 7.07 B | 11.7 B | - | - | - | 7.5 B | - | 5.82 B | - | 5.82 B | - | 6.61 B | - | 13.6 B | - | 5.87 B | - | 13.6 B | - | 6.96 B | - | 4.67 B | - | - | - | 8.84 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
129 B | 156 B | 140 B | 129 B | 156 B | 148 B | 144 B | 154 B | 157 B | 156 B | - | - | - | 154 B | - | 154 B | - | 155 B | - | 157 B | - | 168 B | - | 160 B | - | 143 B | - | 134 B | - | 146 B | - | - | - | 155 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
56.6 B | 57.6 B | 60.6 B | 53.9 B | 57.8 B | 61.6 B | 61 B | 62.6 B | 57.7 B | 64.5 B | - | - | - | 57 B | - | 58 B | - | 57.8 B | - | 59.5 B | - | 62.6 B | - | 59.3 B | - | 63.2 B | 2.46 B | 61.5 B | - | 70.9 B | - | 69.7 B | - | 73.7 B | - | - | - | 85.1 B | - | - | - | 93.7 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in EUR currency
Balance Sheet is a fundamental financial report of Vodafone Group Plc, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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