Vodafone Group Plc (VOD) Stock Price & How to Invest
Last updated July 2026
Short answer
VOD is the US-listed ADR of Vodafone Group, a UK-based multinational telecom operating across Europe and Africa, and it trades as a high-yield, low-multiple turnaround story anchored on fixing Germany and integrating the newly combined VodafoneThree in the UK. Investors typically weigh its ~4% dividend and cheap valuation against slow European growth and a still-sizable debt load.
VOD stock price
As of 2026-07-10, Vodafone Group Plc (VOD) last closed at $14.72, up 35.8% over the past year. Over the past 52 weeks it has traded between $10.80 and $16.32.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Vodafone Group Plc's investor relations page. Walnut is informational, not investment advice.
What does Vodafone Group Plc (VOD) do?
Vodafone Group is one of Europe's largest telecommunications companies, providing mobile and fixed-line broadband, TV, and business connectivity services across markets including Germany, the UK, and other European and African countries, plus a large IoT and digital-services arm. The US-listed VOD ADR gives American investors dollar-denominated exposure to the group (each ADR represents ten ordinary London-listed shares). Over recent years management has reshaped the portfolio, exiting Italy and Spain, trimming its stake in the Vantage Towers infrastructure unit, and merging Vodafone UK with Three UK to create VodafoneThree, now the largest mobile operator in the UK with over 28 million customers.
The investment picture is a value-and-income turnaround rather than a growth story. Vodafone reported FY26 (year ended March 2026) total revenue up about 8% to roughly €40.5 billion, helped by the Three UK consolidation, and it delivered the top end of its EBITDAaL and free-cash-flow guidance. The stock carries a dividend yield in the roughly 4% range and a low price-to-sales multiple, reflecting investor caution about Germany, which is about a third of revenue and only just returning to growth, and about the debt taken on to buy out CK Hutchison's share of VodafoneThree. Bulls see a cheap, deleveraging operator with a progressive dividend policy; skeptics see structural competition and a long fix in its biggest market.
What's driving Vodafone Group Plc (VOD)?
1. Germany recovery
Germany is Vodafone's single largest market at roughly a third of revenue, and its return to growth is the central swing factor. Organic German service revenue improved through FY26 from a small decline to about 1.3% growth by the fourth quarter as the drag from TV contracting-law changes annualized. Sustained German momentum is what most analysts watch as the signal that the turnaround is real.
2. VodafoneThree UK integration
The completed Vodafone UK and Three UK merger created the UK's biggest mobile operator with over 28 million customers, and Vodafone later agreed to buy out CK Hutchison's stake to take full ownership. Management is targeting large network-investment and cost synergies over several years, so execution on integration and the promised UK network build is a multi-year value lever.
3. Portfolio simplification and deleveraging
Vodafone has exited Italy and Spain, reduced its Vantage Towers stake, and used the proceeds to cut net debt sharply before it rose again on the UK buyout. A leaner footprint focused on Germany, the UK, and select European and African markets is meant to improve returns on capital and support the dividend.
4. Dividend and cash-flow framing
After rebasing its payout in prior years, Vodafone has adopted a progressive dividend policy tied to adjusted free-cash-flow growth, and the ADR yields in the roughly 4% area. Adjusted free cash flow of around €2.6 billion on a guidance basis in FY26 underpins the income case that draws many holders to the name.
What are the risks to Vodafone Group Plc (VOD)?
Germany remains the biggest risk, where regulatory changes to TV bundling cost Vodafone roughly half of about 8.5 million bundled TV households and where it competes as the number-two mobile player behind Deutsche Telekom alongside O2, leaving it exposed to price-led churn. Net debt, around €25 billion after the VodafoneThree buyout, keeps leverage and interest costs a live concern for a capital-intensive business. As an ADR reporting in euros, VOD also carries currency translation risk for dollar investors, and European telecom is a low-growth, heavily regulated, competitive sector. Execution risk on both the German recovery and the multi-year UK integration could delay the payoff, and the dividend, while progressive, depends on free-cash-flow delivery.
How is Vodafone Group Plc (VOD) valued? (approximate, JULY 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Vodafone Group Plc's investor relations page or your broker.
- Revenue (FY26): ~€40.5B
- Service revenue (FY26): ~€33.5B
- Adjusted EBITDAaL (FY26): ~€11.4B
- Adjusted free cash flow (FY26): ~€2.6B
- Net debt: ~€25B
- Dividend yield (ADR): ~4%
Vodafone reported FY26 (year ended March 2026) total revenue up about 8% to roughly €40.5 billion, lifted by the Three UK consolidation, and it hit the top end of its guidance on EBITDAaL and free cash flow. The stock trades at a low price-to-sales multiple with a dividend yield around 4%, reflecting a value-and-income profile rather than growth. Figures are group results in euros; the US-listed VOD ADR represents ten ordinary shares.
Who competes with Vodafone Group Plc (VOD)?
German and European telecom rivals
In Germany, its largest market, Vodafone competes as the number-two mobile operator behind Deutsche Telekom, alongside Telefonica's O2 and cable and fiber challengers, and across other European markets it faces Orange, Telefonica, and local incumbents. Pricing and network competition in these mature markets shape much of its revenue trajectory.
UK mobile and broadband peers
Through VodafoneThree, now the UK's largest mobile operator, Vodafone competes with BT/EE, Virgin Media O2, and other mobile and broadband providers. The merger changed the UK competitive structure from four to three major mobile networks, sharpening rivalry on network quality and price.
Towers and connectivity infrastructure
Vodafone's Vantage Towers stake and its enterprise, IoT, and wholesale operations put it alongside independent tower companies such as Cellnex and other infrastructure and connectivity providers. These units are part of the portfolio-simplification and asset-monetization story.
How to invest in Vodafone Group Plc (VOD)
There are three common ways to get VOD exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so VOD sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where VOD fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Vodafone Group Plc (VOD)
VOD is a cheap, high-dividend European telecom in the middle of a portfolio-reshaping turnaround where Germany's recovery and the UK merger, not headline growth, drive the story.
More on Vodafone Group Plc (VOD)
Whether VOD is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is VOD a buy?, and where the stock could go from here in the VOD stock forecast.
For income investors, whether VOD pays a dividend and how the payout looks is covered in does VOD pay a dividend?
Build a basket around VOD with Walnut
Use Vodafone Group Plc as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is VOD?
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VOD is the New York-listed American Depositary Receipt of Vodafone Group, a UK-headquartered multinational telecom that provides mobile, broadband, TV, and business connectivity across Europe and Africa. Each VOD ADR represents ten ordinary shares that trade in London.
What does Vodafone do?
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Vodafone sells mobile and fixed-line broadband, TV, and enterprise connectivity, plus IoT and digital services, in markets including Germany, the UK, and other European and African countries. Germany is its single largest market at roughly a third of revenue.
How much revenue did Vodafone report in FY26?
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Vodafone reported FY26 (year ended March 2026) total revenue of about €40.5 billion, up roughly 8% year over year, helped by the consolidation of Three UK. Service revenue was about €33.5 billion and adjusted EBITDAaL about €11.4 billion (as of JULY 2026).
Does VOD pay a dividend?
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Yes. Vodafone pays a dividend and has adopted a progressive dividend policy tied to adjusted free-cash-flow growth after rebasing the payout in prior years. The ADR yield has been in the roughly 4% range as of JULY 2026, though yields move with the share price.
What is the VodafoneThree merger?
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Vodafone merged Vodafone UK with Three UK to form VodafoneThree, now the UK's largest mobile operator with over 28 million customers, and later agreed to buy out CK Hutchison's stake to take full ownership. Integration and a multi-year UK network build are central to the strategy.
Why is Germany important to the Vodafone story?
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Germany is Vodafone's biggest market at about a third of revenue, so its performance drives the group. Changes to TV bundling laws cost it many bundled TV households, and German service revenue only returned to modest growth by the end of FY26, making the recovery a key thing investors watch.
What are the main risks with VOD?
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Key risks include slow German recovery and competition from Deutsche Telekom and O2, net debt of around €25 billion after the UK buyout, currency translation for dollar-based ADR holders, and the broadly low-growth, heavily regulated nature of European telecom. Execution on the German and UK turnarounds is also a risk.
How can I invest in VOD?
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VOD trades as an ADR on the Nasdaq, so US investors can buy it through a standard brokerage account like any other stock. Walnut lets you connect your brokerage and track VOD inside a thesis-driven basket, but Walnut is not an investment adviser and does not tell you whether to buy or sell it.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Vodafone Group Plc's investor relations page or your broker before making investment decisions.