Vodafone Group PLC
VOD Communication Services Telecom Services
Vodafone Group PLC’s revenue for fiscal 2026 (year ended March 2026) was $46.9 billion, up 16.6% from fiscal 2025.
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Vodafone Group PLC (VOD) Piotroski F-score
Vodafone Group PLC's Piotroski F-score for fiscal 2026 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, unchanged from fiscal 2025.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 5 | 0.00 |
| FY2025 | 5 | (1.00) |
| FY2024 | 6 | (1.00) |
| FY2023 | 7 | (1.00) |
| FY2022 | 8 | 3.00 |
| FY2021 | 5 | 0.00 |
| FY2020 | 5 | 0.00 |
| FY2019 | 5 | (2.00) |
| FY2018 | 7 | 2.00 |
| FY2017 | 5 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.32%) | (3.04%) | Fail | 0 |
| Positive operating cash flow | 16.57b | 16.52b | Pass | 1 |
| Rising return on assets | (0.32%) | (3.04%) | Pass | 1 |
| Cash flow above net income | 17.04b | 20.99b | Pass | 1 |
| Falling long-term leverage | 0.37 | 0.34 | Fail | 0 |
| Rising current ratio | 1.14 | 1.26 | Fail | 0 |
| No new shares issued | 2,403,300,000 | 2,614,900,000 | Pass | 1 |
| Rising gross margin | 31.47% | 33.43% | Fail | 0 |
| Rising asset turnover | 0.33 | 0.27 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| AMX America Movil, S.A.B. de C.V. Unsponsored ADR compare | 8 |
| CHT Chunghwa Telecom Co., Ltd. compare | 8 |
| ORANY Orange compare | 7 |
| CMCSA Comcast Corporation compare | 7 |
| VIV Telefonica Brasil S.A. compare | 7 |
| CHTR Charter Communications, Inc. compare | 6 |
| VOD Vodafone Group PLC | 5 |
| TELFY Telefonica SA compare | 4 |
| ECHO EchoStar Corporation compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover