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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Vodafone Group's retained earnings for the quarter that ended in Mar. 2026 was $-146,280 Mil.
Vodafone Group's quarterly retained earnings
declined
from Mar. 2025 ($-133,517 Mil) to Sep. 2025 ($-144,790 Mil) and
declined
from Sep. 2025 ($-144,790 Mil) to Mar. 2026 ($-146,280 Mil).
Vodafone Group's annual retained earnings
declined
from Mar. 2024 ($-124,610 Mil) to Mar. 2025 ($-133,517 Mil) and
declined
from Mar. 2025 ($-133,517 Mil) to Mar. 2026 ($-146,280 Mil).
Vodafone Group (NAS:VOD) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Vodafone Group Retained Earnings Historical Data
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The historical data trend for Vodafone Group's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $-146,280 Mil mean?
Vodafone Group (VOD) has a Retained Earnings of $-146,280 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Vodafone Group and its competitors.
Is Vodafone Group's Retained Earnings too high?
Vodafone Group's current Retained Earnings is $-146,280 Mil. Overall, Vodafone Group has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vodafone Group's Retained Earnings compare to TMUS and VZ?
Vodafone Group's Retained Earnings of $-146,280 Mil can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Telecommunication Services company?
A good Retained Earnings depends on the Telecommunication Services industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Vodafone Group and its competitors. Vodafone Group's current Retained Earnings is $-146,280 Mil. 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 (VOD) is currently considered Modestly Overvalued. The stock's GF Value™ is $12.74, compared to a current price of $15.16 — trading 19% above its estimated fair value. The current Retained Earnings is $-146,280 Mil. Vodafone Group's overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Vodafone Group (VOD), the current Retained Earnings is $-146,280 Mil 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 (VOD) Overvalued in 2026?
Based on GuruFocus' analysis, Vodafone Group stock appears to be overvalued.
The current stock price of $15.16 is trading 19% above its estimated GF Value™ of $12.74.
GuruFocus considers Vodafone Group to be Modestly Overvalued.
Key valuation signals for VOD:
Retained Earnings: $-146,280 Mil
GF Value™: $12.74 vs. price of $15.16 (19% above fair value)
No single metric tells the full story. See the 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.
71GF Score
Get the complete analysis for VOD
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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