Vodafone Group Plc (VOD) Balance Sheet

NASDAQ: VODAssets, liabilities, debt and equity over 10 years.

VOD balance sheet, FY2026

March 31, 2026 · euros

€130.05B assets = €75.52B liabilities + €54.53B equity

What it owns€130.05BCash & ST investments: €15.77B (12.1%)Cash & ST investments€15.77B · 12%Receivables: €10.78B (8.3%)Receivables €10.78BInventory: €596.6M (0.5%)PP&E: €34.23B (26.3%)PP&E€34.23B · 26%Goodwill & intangibles: €36.31B (27.9%)Goodwill & intangibles€36.31B · 28%Other non-current: €32.36B (24.9%)Other non-current€32.36B · 25%=How it is financed€130.05BCurrent liabilities: €24.02B (18.5%)Current liabilities€24.02B · 18%Long-term debt: €35.92B (27.6%)Long-term debt€35.92B · 28%Other LT liabilities: €15.59B (12.0%)Other LT liabilities€15.59B · 12%Shareholders’ equity: €54.53B (41.9%)Shareholders’ equity€54.53B · 42%

Both columns are drawn to the same scale: what VOD owns equals what it owes plus shareholders’ equity. Hover a block for its value.

VOD financial health

Current ratio1.13
Adequate · current assets cover current liabilities 1.13×
Debt / equity1.04
Moderate leverage · €1.04 of debt for each $1 of equity
Equity / assets39.0%
Balanced · of assets funded by shareholders
Cash / debt29.9%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles27.9%
Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

VOD balance sheet trends, FY2017–FY2026

MetricTrendThenLatestChange
Total assets€154.68BFY2017€130.05BFY2026−1.9%/yr
Total liabilities€80.97BFY2017€75.52BFY2026−0.8%/yr
Shareholders’ equity€72.20BFY2017€50.69BFY2026−3.9%/yr
Cash & short-term investments€13.34BFY2017€15.77BFY2026+1.9%/yr
Total debt€46.57BFY2017€52.69BFY2026+1.4%/yr
Net cash (debt)−€33.23BFY2017−€36.92BFY2026−€3.7B
Working capital€348.0MFY2017€3.13BFY2026+€2.8B
Current ratio1.01FY20171.13FY2026+0.12
Debt / equity0.65FY20171.04FY2026+0.39
Shares outstanding2.80BFY20172.40BFY2026−1.7%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

VOD assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

VOD liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

VOD debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

VOD balance sheet in euros

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Assets
Cash & short-term investments€15.77B€19.90B€11.28B€20.34B€17.16B€11.87B€19.53B€25.46B€12.64B€13.34B
Cash & equivalents€8.99B€11.88B€6.18B€12.72B€8.34B€5.82B€13.56B€13.64B€4.67B€8.84B
Short-term investments€6.78B€8.02B€5.09B€7.62B€8.82B€6.05B€5.97B€11.83B€7.96B€182.0M
Receivables€10.78B€8.23B€6.90B€9.43B€10.06B€7.35B€7.81B€8.76B€7.75B€10.01B
Inventory€596.6M€666.5M€568.1M€1.04B€930.2M€676.0M€598.0M€714.0M€581.0M€576.0M
Other current assets€0€762.6M€600.1M€907.2M€970.2M€8.37B€4.89B€4.65B€16.98B€18.81B
Total current assets€27.15B€29.56B€19.35B€31.71B€29.12B€28.27B€32.83B€39.59B€37.95B€42.74B
Property, plant & equipment (net)€34.23B€33.18B€28.50B€41.28B€45.40B€41.24B€40.11B€27.43B€28.32B€30.20B
Goodwill & intangible assets€36.31B€36.12B€38.86B€51.29B€59.24B€53.55B€54.01B€41.01B€43.26B€46.22B
Long-term investments€0€0€0€0€0€0€0€19.06B€68.96B€6.60B
Other non-current assets€32.36B€39.97B€57.67B€44.69B€37.64B€32.00B€41.21B€15.78B€0€28.93B
Total assets€130.05B€138.83B€144.38B€168.97B€171.40B€155.06B€168.17B€142.86B€145.61B€154.68B
Liabilities
Accounts payable€15.60B€15.19B€5.61B€19.82B€21.88B€6.74B€6.70B€6.54B€6.18B€6.21B
Short-term debt€7.14B€7.61B€8.66B€15.99B€13.31B€9.07B€14.41B€6.63B€10.40B€12.70B
Deferred revenue——€1.57B−€9.84B−€9.05B−€7.53B−€6.68B−€4.27B−€10.35B−€12.05B
Total current liabilities€24.02B€24.58B€23.29B€37.57B€37.44B€28.71B€33.38B€25.52B€39.02B€42.39B
Long-term debt€35.92B€37.62B€40.91B€41.35B€48.32B€49.36B€62.89B€48.69B€32.63B€34.22B
Lease obligations€12.39B€10.83B€9.67B€13.36B€12.54B€13.03B€12.06B€0€0€0
Other long-term liabilities€15.59B€18.39B€19.17B€19.98B€22.14B€3.92B€0€1.92B€2.15B€1.36B
Total liabilities€75.52B€80.59B€83.37B€98.91B€107.90B€97.25B€105.54B€79.42B€77.00B€80.97B
Shareholders' equity
Common stock & paid-in capital€3.95B€4.67B€4.80B€5.21B€5.34B€4.80B€4.80B€4.80B€4.80B€4.80B
Retained earnings (deficit)−€126.66B−€133.41B−€114.66B−€122.86B−€135.77B−€121.59B−€120.35B−€116.72B−€106.69B−€105.85B
Treasury stock——————−€7.80B−€7.88B−€8.46B−€8.61B
Accumulated other comprehensive income€29.64B€29.88B€28.21B€31.55B€32.31B€27.95B€32.13B€29.52B€27.80B€30.06B
Minority interest€3.73B€1.17B€1.03B€1.08B———€0€0€0
Total shareholders' equity€50.69B€56.98B€61.01B€68.88B€60.95B€55.80B€61.41B€62.22B€67.64B€72.20B
Key figures
Total debt€52.69B€57.41B€57.00B€72.13B€77.99B€66.80B€69.63B€52.95B€43.26B€46.57B
Net cash (debt)−€36.92B−€37.50B−€45.72B−€51.79B−€60.82B−€54.92B−€50.10B−€27.49B−€30.62B−€33.23B
Working capital€3.13B€4.98B−€3.94B−€5.86B−€8.31B−€441.0M−€551.0M€14.06B−€1.07B€348.0M
Tangible book value€14.37B€20.86B€22.15B€17.59B€1.71B€2.25B€7.40B€21.21B€24.38B€25.98B
Shares outstanding2.40B2.62B2.72B2.78B2.45B2.45B2.45B2.76B2.79B2.80B
Current ratio1.131.200.830.840.780.980.981.550.971.01
Quick ratio1.111.140.780.790.730.670.821.340.520.55
Debt / equity1.041.010.931.051.281.201.130.850.640.65
Equity / assets39.0%41.0%42.3%40.8%35.6%36.0%36.5%43.6%46.5%46.7%

Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed May 22, 2026); data from EODHD.

VOD financial position

At the end of fiscal 2026 (March 31, 2026), Vodafone Group Plc had total assets of €130.1 billion (down 6.3% from a year earlier), total liabilities of €75.5 billion and shareholders' equity of €50.7 billion. It held €15.8 billion in cash and short-term investments against €52.7 billion of debt, net debt of €36.9 billion. Its current ratio was 1.13.

Related: VOD income statement, VOD cash flow statement, VOD key metrics. See the VOD stock overview for the latest quote and news.

VOD balance sheet FAQ

What are Vodafone Group Plc's total assets?

Vodafone Group Plc reported total assets of €130.1 billion at the end of fiscal 2026 (March 31, 2026), compared with €138.8 billion a year earlier.

How much debt does Vodafone Group Plc have?

Vodafone Group Plc had €52.7 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.04.

How much cash does Vodafone Group Plc have?

Vodafone Group Plc held €15.8 billion in cash and short-term investments at the end of fiscal 2026; with €52.7 billion of debt that is net debt of €36.9 billion.

What is Vodafone Group Plc's book value?

Vodafone Group Plc's shareholders' equity (book value) was €50.7 billion at the end of fiscal 2026.

What is Vodafone Group Plc's current ratio?

Vodafone Group Plc had current assets of €27.1 billion and current liabilities of €24.0 billion, a current ratio of 1.13 (it can cover its short-term obligations).

How much goodwill does Vodafone Group Plc have?

Vodafone Group Plc carried €36.3 billion of goodwill and intangible assets, 27.9% of total assets, at the end of fiscal 2026.

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