Vodafone Group Public Limited Company (VOD) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'26 | Q2'26 | Q4'25 | Q2'25 | Q4'24 | Q2'24 | Q4'23 | Q2'23 | Q4'22 | Q2'22 | Q4'21 | Q2'21 | Q4'20 | Q2'20 | Q4'19 | Q2'19 | Q4'18 | Q2'18 | Q4'17 | Q2'17 |
|---|
| Cash from Operations | 9B | 4.5B | 9.52B | 5.06B | 11.01B | 5.54B | 11.77B | 6.28B | 11.63B | 6.46B | 11.21B | 6.01B | 11.24B | 6.14B | 8.15B | 4.83B | 7.78B | 5.82B | 8.4B | 5.82B |
| Operating CF Margin % | 42.58% | 22.96% | 49.65% | 27.66% | 74.51% | 25.27% | 83.05% | 27.39% | 50.35% | 28.7% | 50.07% | 28.04% | 48.8% | 27.39% | 37.37% | 22.09% | 33.11% | 25.23% | 35.64% | 24.2% |
| Operating CF Growth % | -5.43% | -10.97% | -13.57% | -8.8% | -6.46% | -11.72% | 1.27% | -2.71% | 3.75% | 7.42% | -0.3% | -2.12% | 37.85% | 27.21% | 4.82% | -17.09% | -7.43% | 0.02% | 26.45% | 1.48% |
| Net Income | -1.13B | 829M | -5.5B | 1.14B | 1.49B | -346M | 10.85B | 945M | 1.24B | 996M | -1.16B | 1.27B | 1.21B | -2.13B | -86M | -7.93B | 1.31B | 1.13B | -1.17B | -5.13B |
| Depreciation & Amortization | 6.58B | 5.96B | 5.9B | 5.7B | 5.28B | 5.12B | 4.34B | 6.85B | 4.59B | 6.95B | 4.9B | 6.99B | 5.19B | 6.78B | 2.84B | 4.87B | 3.07B | 5.23B | 3.43B | 5.55B |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 71M | 54M | 141M | 0 | 119M | 0 | 135M | 36.5M | 134M | 0 | 132M | 0 | 128M | 0 | 45M | 50M |
| Deferred Taxes | 0 | 0 | 965.23M | 376.28M | 0 | 0 | -529.5M | 0 | -307M | 0 | -347.5M | 9.5M | -1.24B | 0 | -1.61B | 0 | 73M | 0 | -876M | 178M |
| Other Non-Cash Items | 3.55B | -1.53B | 5.64B | 287.1M | 3.38B | 1.94B | -4.47B | 38M | 5.18B | -198M | 6.76B | -2.2B | 3.6B | 2.56B | 3.79B | 9.53B | 3.47B | 403M | 5.26B | 5.75B |
| Working Capital Changes | 0 | -759M | 2.52B | -2.44B | 798M | -1.22B | 918M | -1.56B | 495M | -1.29B | 560M | -46M | 1.1B | -1.07B | 1.48B | -1.65B | -201M | -943M | 831M | -406M |
| Change in Receivables | 0 | -767M | 654.51M | -1.47B | 557M | -1.15B | 923M | -1.38B | 616M | -1.25B | 597M | -15M | 1.03B | -1.07B | 1.41B | -1.44B | -260M | -858M | 723M | -415M |
| Change in Inventory | 0 | 8M | 258.36M | -116.36M | 241M | -64M | -5M | -175M | -121M | -41M | -37M | -31M | 74M | -6M | 71M | -202M | 59M | -85M | 108M | 9M |
| Change in Payables | 0 | 0 | 1.6B | -852.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34.5M | 34.5M | 0 | -177M | 0 | 208M | 0 | 41.25M | 0 |
| Cash from Investing | -3.29B | -2.25B | 1.82B | 2.08B | -2.31B | -3.81B | 3.71B | -4.09B | -4.06B | -2.81B | -4.25B | -5.01B | -822M | -7.27B | -4.68B | -4.53B | -4.57B | -5.27B | -2.88B | -5.54B |
| Capital Expenditures | -4B | -2.45B | -3.61B | -3.49B | -1.97B | -3.81B | -2.79B | -3.46B | -4.06B | -3.12B | -4.25B | -5.01B | -2.41B | -7.27B | -4.68B | -4.53B | -4.57B | -5.27B | -2.31B | -3.98B |
| CapEx % of Revenue | 18.91% | 12.51% | 18.85% | 19.07% | 13.31% | 17.36% | 19.71% | 15.07% | 17.57% | 13.86% | 18.98% | 23.4% | 10.48% | 32.42% | 21.47% | 20.74% | 19.46% | 22.83% | 9.79% | 16.53% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 177.81M | -168.38M | -665.56M | -44.7M | -1.46B | 6.5B | -633M | -1.38B | 308M | -1.61B | -2.11B | 1.68B | 5.71B | -2.5B | -1.57B | -2.45B | -2.47B | -565M | -1.54B |
| Cash from Financing | -3.79B | -5.89B | -7.04B | -6.29B | -9.48B | -6.38B | -10.44B | -2.99B | -5.91B | -3.79B | -8.15B | -7.05B | -2.55B | -6.8B | 3.08B | 1.36B | -3.46B | -3.78B | -4.83B | -4.27B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | -1.09B | -973M | -1.02B | -955.92M | 0 | 0 | 0 | -1.09B | -987M | -1.1B | -62M | 0 | 0 | -821M | -475M | 0 | -1.22B | -549M | 0 | 0 |
| Dividends Paid | -550.14M | -558M | -587.48M | -1.31B | -1.22B | -1.21B | -1.22B | -1.26B | -1.22B | -1.26B | -1.22B | -1.21B | -1.2B | -1.09B | -1.33B | -2.74B | -1.28B | -2.64B | -1.26B | -2.45B |
| Share Repurchases | -1.1B | -973M | -1.02B | -955.92M | 0 | 0 | -777M | -1.09B | -987M | -1.1B | -62M | -205.25M | -205.25M | -821M | -475M | 0 | -1.22B | -549M | 2.31B | 0 |
| Other Financing | 7.4B | -955.71M | -273.45M | -493.73M | -4.23B | -1.75B | -9.22B | 4.72B | -3.71B | 54M | -6.87B | -3.64B | -1.35B | -717M | 4.88B | -1.47B | -958M | 315M | -3.56B | -1.75B |
| Net Change in Cash | 1.76B | -3.04B | 4.06B | 1.14B | 0 | -4.6B | -4.46B | -520M | -4.79B | -70M | -1.08B | 3.47B | -2.4B | -3.94B | -3.54B | 775M | -4.27B | -1.84B | -6.27B | -2.16B |
| Free Cash Flow | 6.52B | 2.05B | 7.31B | 2.68B | 9.15B | 1.74B | 8.98B | 2.82B | 7.57B | 3.34B | 6.96B | 996M | 8.83B | -1.13B | 3.47B | 294M | 3.21B | 552M | 6.09B | 1.84B |
| FCF Margin % | 30.82% | 10.45% | 38.13% | 14.68% | 61.88% | 7.91% | 63.34% | 12.32% | 32.78% | 14.84% | 31.08% | 4.65% | 38.32% | -5.03% | 15.9% | 1.35% | 13.65% | 2.39% | 25.84% | 7.67% |
| FCF Growth % | -10.86% | -23.65% | -20.08% | 54.54% | 1.85% | -38.53% | 18.64% | -15.37% | 8.8% | 235.04% | -21.19% | 188.38% | 154.45% | -483.33% | 8.17% | -46.74% | -47.37% | -70.07% | 800.05% | 131.66% |
| FCF per Share | 2.82 | 0.83 | 2.86 | 1.00 | 3.37 | 0.64 | 3.28 | 1.00 | 2.63 | 1.13 | 2.34 | 0.34 | 3.00 | -0.38 | 1.25 | 0.11 | 1.16 | 0.20 | 2.17 | 0.66 |
| FCF Conversion (FCF/Net Income) | -7.24x | 5.43x | -1.82x | 4.75x | 7.41x | -16.02x | 1.12x | 6.65x | 9.37x | 6.48x | -9.69x | 4.74x | 9.30x | -2.82x | -94.81x | -1.10x | 2.65x | 3.94x | -3.59x | 38.29x |
| Interest Paid | 0 | 1.03B | 1.18B | 1.52B | 1.19B | 1.03B | 0 | 866M | 976M | 770M | 1.37B | 774M | 1.15B | 1.13B | 692M | 605M | 452M | 539M | 827M | 437M |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |