Net margin is calculated as Net Income divided by its Revenue. Vodafone Group's Net Income for the
six
months ended in Mar. 2026 was £-1,063 Mil. Vodafone Group's Revenue for the
six
months ended in Mar. 2026 was £18,080 Mil. Therefore, Vodafone Group's net margin for the quarter that ended in Mar. 2026 was -5.88%.
The historical rank and industry rank for Vodafone Group's Net Margin % or its related term are showing as below:
LSE:VOD'
s Net Margin % Range Over the Past 10 Years
Min: -18.37 Med: -0.43 Max: 31.42
Current: -0.98
LSE:VOD's Net Margin % is ranked worse than 73.37% of 368
companies
in the Telecommunication Services industry
Industry Median: 5.455
vs LSE:VOD: -0.98
Vodafone Group (LSE:VOD) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Vodafone Group Net Margin % Related Terms
Vodafone Group Net Margin % Historical Data
* Premium members only.
The historical data trend for Vodafone Group's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Telecom Services subindustry, Vodafone Group's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Vodafone Group Net Margin % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Vodafone Group's Net Margin % distribution charts can be found below:
* The bar in red indicates where Vodafone Group's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Vodafone Group (LSE:VOD) has a Net Margin % of -5.88% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Vodafone Group and its competitors. According to the industry distribution chart, Vodafone Group ranks #270 out of 368 companies in the Telecommunication Services industry, placing it in the top 73.4%.
Is Vodafone Group's Net Margin % too high?
Vodafone Group's current Net Margin % is -5.88%. Based on the distribution chart, Vodafone Group ranks #270 out of 368 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Vodafone Group has a GF Score™ of 49/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vodafone Group's Net Margin % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Vodafone Group ranks #270 out of 368 companies for Net Margin %. This places Vodafone Group in the lower half of its industry. The industry median Net Margin % is 5.46. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for a Telecommunication Services company?
The median Net Margin % among Telecommunication Services companies is 5.46, based on 368 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Vodafone Group and its competitors. For the Telecommunication Services industry, the median Net Margin % is 5.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vodafone Group's current Net Margin % is -5.88%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vodafone Group stock overvalued right now?
Based on GuruFocus' analysis, Vodafone Group (LSE:VOD) is currently considered Fairly Valued. The stock's GF Value™ is £0.96, compared to a current price of £1.06 — trading 10% above its estimated fair value. The current Net Margin % is -5.88%. Vodafone Group's overall GF Score™ is 49/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Vodafone Group (LSE:VOD), the current Net Margin % is -5.88% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Vodafone Group (LSE:VOD) Overvalued in 2026?
Based on GuruFocus' analysis, Vodafone Group stock appears to be overvalued.
The current stock price of £1.06 is trading 10% above its estimated GF Value™ of £0.96.
GuruFocus considers Vodafone Group to be Fairly Valued.
Key valuation signals for LSE:VOD:
Net Margin %: -5.88%
GF Value™: £0.96 vs. price of £1.06 (10% above fair value)
No single metric tells the full story. See the LSE:VOD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vodafone operates mobile and fixed-line networks and businesses across Europe, Africa, and the Middle East. Its largest market is Germany, where it is the second mobile operator after Deutsche Telekom and owns two cable networks after acquiring Kabel Deutschland in 2013 and Liberty Global Germany in 2019. In the UK, Vodafone merged with CK Hutchison in 2024, consolidating the mobile market. It also divested its Spanish and Italian divisions in that same year, given their low returns on invested capital.
49GF Score
Get the complete analysis for LSE:VOD
Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LSE:VOD has been successfully added to your 
