Vodafone Group free cash flow 1987–2026
Vodafone Group's free cash flow in H2 FY2026, the six months to 31 March 2026, was 6.52B EUR, down 10.9% on the same half a year before. Vodafone Group's free cash flow over the last twelve months was 8.58B EUR, down 1.0% on the twelve months before. In fiscal year 2026 it was 8.58B EUR, down 1.0% on the year before.
Last updated 6 Nov 2026 · Next report 10 Nov 2026
Free cash flow
Growth
| Fiscal year | Period ending | Free cash flow | Growth | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| TTM | 31 Mar 2026 | 8.58B | -1.05% | 21.07% | 13.49B | -4.90B | 3.57 |
| FY2026 | 31 Mar 2026 | 8.58B | -1.05% | 21.07% | 13.49B | -4.90B | 3.57 |
| FY2025 | 31 Mar 2025 | 8.67B | -10.55% | 23.16% | 15.37B | -6.70B | 3.31 |
| FY2024 | 31 Mar 2024 | 9.70B | -25.96% | 26.41% | 16.56B | -6.86B | 3.57 |
| FY2023 | 31 Mar 2023 | 13.10B | -3.23% | 34.77% | 18.05B | -4.96B | 4.72 |
| FY2022 | 31 Mar 2022 | 13.53B | +14.68% | 36.57% | 18.08B | -4.55B | 5.52 |
| FY2021 | 31 Mar 2021 | 11.80B | -3.24% | 26.94% | 17.22B | -5.41B | 4.81 |
| FY2020 | 31 Mar 2020 | 12.20B | +53.87% | 26.56% | 17.38B | -5.18B | 4.97 |
| FY2019 | 31 Mar 2019 | 7.93B | -8.71% | 17.62% | 12.98B | -5.05B | 2.87 |
| FY2018 | 31 Mar 2018 | 8.68B | +9.39% | 18.64% | 13.60B | -4.92B | 3.12 |
| FY2017 | 31 Mar 2017 | 7.94B | — | 16.67% | 14.22B | -6.29B | 2.84 |
| FY2016 | 31 Mar 2016 | -1.74B | -253.03% | -3.35% | 13.29B | -15.03B | -0.65 |
| FY2015 | 31 Mar 2015 | 1.14B | -48.64% | 1.97% | 13.28B | -12.15B | 0.43 |
| FY2014 | 31 Mar 2014 | 2.21B | -6.28% | 4.77% | 7.53B | -5.32B | 0.83 |
| FY2013 | 31 Mar 2013 | 2.36B | -54.73% | 5.24% | 12.69B | -10.32B | 0.87 |
| FY2012 | 31 Mar 2012 | 5.22B | +36.72% | 11.21% | 12.36B | -7.14B | 1.88 |
| FY2011 | 31 Mar 2011 | 3.82B | -44.14% | 7.31% | 13.65B | -9.83B | 1.56 |
| FY2010 | 31 Mar 2010 | 6.84B | +63.02% | 13.69% | 14.67B | -7.83B | 2.79 |
| FY2009 | 31 Mar 2009 | 4.19B | -35.53% | 9.47% | 11.72B | -7.52B | 1.71 |
| FY2008 | 31 Mar 2008 | 6.50B | -21.08% | 14.59% | 12.41B | -5.90B | 2.65 |
| FY2007 | 31 Mar 2007 | 8.24B | -3.40% | 17.98% | 14.92B | -6.68B | 3.36 |
| FY2006 | 31 Mar 2006 | 8.53B | -18.41% | 20.27% | 15.95B | -7.41B | 3.48 |
| FY2005 | 31 Mar 2005 | 10.46B | -16.36% | 26.88% | 17.71B | -7.26B | 4.26 |
| FY2004 | 31 Mar 2004 | 12.50B | +71.06% | 24.86% | 19.29B | -6.78B | 5.09 |
| FY2003 | 31 Mar 2003 | 7.31B | +12.93% | 16.60% | 15.12B | -7.81B | 2.98 |
| FY2002 | 31 Mar 2002 | 6.47B | — | 17.32% | 13.25B | -6.78B | 2.64 |
| FY2001 | 31 Mar 2001 | -23.17B | — | -95.48% | 4.10B | -27.28B | -9.45 |
| FY2000 | 31 Mar 2000 | -398.42M | — | -3.04% | 2.99B | -3.39B | -0.16 |
| FY1999 | 31 Mar 1999 | -163.39M | -347.56% | -3.25% | 965.37M | -1.13B | -0.07 |
| FY1998 | 31 Mar 1998 | 66.00M | +362.83% | 1.72% | 867.93M | -801.93M | 0.03 |
| FY1997 | 31 Mar 1997 | 14.26M | -71.23% | 0.58% | 510.11M | -495.85M | 0.01 |
| FY1996 | 31 Mar 1996 | 49.57M | +99.21% | 2.91% | 481.38M | -431.81M | 0.02 |
| FY1995 | 31 Mar 1995 | 24.88M | -74.95% | 1.77% | 254.21M | -229.32M | 0.01 |
| FY1994 | 31 Mar 1994 | 99.35M | -36.11% | 9.07% | 308.74M | -209.39M | 0.04 |
| FY1993 | 31 Mar 1993 | 155.50M | +28.91% | 18.81% | 330.05M | -174.55M | 0.06 |
| FY1992 | 31 Mar 1992 | 120.63M | — | 14.74% | 206.93M | -86.30M | 0.05 |
| FY1991 | 31 Mar 1991 | -23.27M | — | -3.00% | 191.61M | -214.87M | -0.01 |
| FY1990 | 31 Mar 1990 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| FY1989 | 31 Mar 1989 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| FY1988 | 31 Mar 1988 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| FY1987 | 31 Mar 1987 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| Quarter | Period ending | Free cash flow | Growth on a year before | Free cash flow margin | Operating cash flow | Capital expenditure | Free cash flow per share |
|---|---|---|---|---|---|---|---|
| H2 FY2026 | 31 Mar 2026 | 6.52B | -10.86% | 30.82% | 9.00B | -2.49B | 2.82 |
| H1 FY2026 | 30 Sept 2025 | 2.05B | -23.65% | 10.45% | 4.50B | -2.45B | 0.83 |
| H2 FY2025 | 31 Mar 2025 | 7.31B | -20.08% | 38.13% | 9.52B | -2.21B | 2.86 |
| H1 FY2025 | 30 Sept 2024 | 2.68B | -15.95% | 14.68% | 5.06B | -2.37B | 1.00 |
| H2 FY2024 | 31 Mar 2024 | 9.15B | +1.85% | 61.88% | 11.01B | -1.87B | 3.37 |
| H1 FY2024 | 30 Sept 2023 | 3.19B | +13.03% | 14.55% | 5.54B | -2.35B | 1.18 |
| H2 FY2023 | 31 Mar 2023 | 8.98B | +0.38% | 63.34% | 11.77B | -2.79B | 3.28 |
| H1 FY2023 | 30 Sept 2022 | 2.82B | -15.37% | 12.32% | 6.28B | -3.46B | 1.00 |
| H2 FY2022 | 31 Mar 2022 | 8.95B | +4.46% | 38.74% | 11.63B | -2.68B | 3.11 |
| H1 FY2022 | 30 Sept 2021 | 3.34B | +3.06% | 14.84% | 6.46B | -3.12B | 1.13 |
| H2 FY2021 | 31 Mar 2021 | 8.56B | -2.98% | 38.26% | 11.21B | -2.64B | 2.88 |
| H1 FY2021 | 30 Sept 2020 | 3.24B | -3.92% | 15.11% | 6.01B | -2.77B | 1.09 |
| H2 FY2020 | 31 Mar 2020 | 8.83B | +47.17% | 38.32% | 11.24B | -2.41B | 3.00 |
| H1 FY2020 | 30 Sept 2019 | 3.37B | +74.70% | 15.04% | 6.14B | -2.77B | 1.15 |
| H2 FY2019 | 31 Mar 2019 | 6.00B | +6.03% | 27.49% | 8.15B | -2.16B | 2.16 |
| H1 FY2019 | 30 Sept 2018 | 1.93B | -36.25% | 8.83% | 4.83B | -2.90B | 0.70 |
| H2 FY2018 | 31 Mar 2018 | 5.66B | -7.17% | 24.08% | 7.78B | -2.12B | 2.05 |
| H1 FY2018 | 30 Sept 2017 | 3.03B | +64.10% | 13.11% | 5.82B | -2.80B | 1.08 |
| H2 FY2017 | 31 Mar 2017 | 6.09B | — | 25.84% | 8.40B | -2.31B | 2.17 |
| H1 FY2017 | 30 Sept 2016 | 1.84B | +131.66% | 7.67% | 5.82B | -3.98B | 0.66 |
| H2 FY2016 | 31 Mar 2016 | -870.50M | -253.03% | -3.66% | 6.65B | -7.52B | -0.33 |
| H1 FY2016 | 30 Sept 2015 | 796.00M | +5.32% | 2.83% | 5.74B | -4.94B | 0.30 |
| H2 FY2015 | 31 Mar 2015 | 568.85M | +79.48% | — | 6.64B | -6.07B | — |
| H1 FY2015 | 30 Sept 2014 | 755.78M | -59.73% | 2.83% | 4.74B | -3.99B | 0.28 |
| H2 FY2014 | 31 Mar 2014 | 316.94M | -91.28% | 1.36% | 2.84B | -2.52B | 0.12 |
| H1 FY2014 | 30 Sept 2013 | 1.88B | -36.21% | 8.23% | 4.64B | -2.76B | 0.70 |
| H2 FY2013 | 31 Mar 2013 | 3.63B | +23.54% | 16.11% | 5.95B | -2.31B | 1.33 |
| H1 FY2013 | 30 Sept 2012 | 2.94B | +54.10% | 13.04% | 7.65B | -4.71B | 1.08 |
| H2 FY2012 | 31 Mar 2012 | 2.94B | +54.10% | 12.63% | 7.65B | -4.71B | 1.06 |
| H1 FY2012 | 30 Sept 2011 | 1.91B | -44.14% | 8.20% | 6.83B | -4.92B | 0.69 |
| H2 FY2011 | 31 Mar 2011 | 1.91B | -44.14% | 7.31% | 6.83B | -4.92B | 0.78 |
| H1 FY2011 | 30 Sept 2010 | 3.42B | +20.69% | 13.09% | 7.33B | -3.92B | 1.39 |
| H2 FY2010 | 31 Mar 2010 | 3.42B | +20.69% | 13.69% | 7.33B | -3.92B | 1.39 |
| H1 FY2010 | 30 Sept 2009 | 2.83B | -21.91% | 11.34% | 6.59B | -3.76B | 1.15 |
| H2 FY2009 | 31 Mar 2009 | 2.83B | -21.91% | 12.79% | 6.59B | -3.76B | 1.15 |
| H1 FY2009 | 30 Sept 2008 | 3.63B | -15.07% | 16.38% | 6.58B | -2.95B | 1.48 |
| H2 FY2008 | 31 Mar 2008 | 3.63B | -15.07% | 16.27% | 6.58B | -2.95B | 1.48 |
| H1 FY2008 | 30 Sept 2007 | 4.27B | -10.77% | 19.16% | 7.61B | -3.34B | 1.74 |
| H2 FY2007 | 31 Mar 2007 | 4.27B | -10.77% | 18.64% | 7.61B | -3.34B | 1.60 |
| H1 FY2007 | 30 Sept 2006 | 4.79B | -16.22% | 20.89% | 8.50B | -3.71B | 1.95 |
| H2 FY2006 | 31 Mar 2006 | 4.79B | -16.22% | 22.74% | 8.50B | -3.71B | 1.95 |
| H1 FY2006 | 30 Sept 2005 | 5.71B | -8.91% | 27.14% | 9.28B | -3.56B | 2.33 |
| H2 FY2005 | 31 Mar 2005 | 5.71B | -8.91% | 29.37% | 9.28B | -3.56B | 2.33 |
| H1 FY2005 | 30 Sept 2004 | 6.27B | +71.29% | 32.25% | 9.64B | -3.37B | 2.56 |
| H2 FY2004 | 31 Mar 2004 | 6.27B | +71.29% | 24.95% | 9.64B | -3.37B | 2.56 |
| H1 FY2004 | 30 Sept 2003 | 3.66B | +13.15% | 14.56% | 7.56B | -3.90B | 1.31 |
| H2 FY2003 | 31 Mar 2003 | 3.66B | +13.15% | 16.63% | 7.56B | -3.90B | 1.49 |
| H1 FY2003 | 30 Sept 2002 | 3.24B | — | 14.70% | 6.62B | -3.39B | 1.16 |
| H2 FY2002 | 31 Mar 2002 | 3.24B | — | 17.32% | 6.62B | -3.39B | 1.32 |
| H1 FY2002 | 30 Sept 2001 | -11.59B | — | -62.04% | 2.05B | -13.64B | -4.15 |
| H2 FY2001 | 31 Mar 2001 | -11.59B | — | -95.48% | 2.05B | -13.64B | -4.72 |
| H1 FY2001 | 30 Sept 2000 | -199.21M | — | -1.64% | 1.50B | -1.69B | -0.08 |
| H2 FY2000 | 31 Mar 2000 | -199.21M | — | -3.04% | 1.50B | -1.69B | -0.08 |
| H1 FY2000 | 30 Sept 1999 | -81.69M | -347.56% | -1.24% | 482.69M | -564.38M | -0.03 |
| H2 FY1999 | 31 Mar 1999 | -81.69M | -347.56% | -3.25% | 482.69M | -564.38M | -0.03 |
| H1 FY1999 | 30 Sept 1998 | 33.00M | +362.83% | 1.31% | 433.97M | -400.97M | 0.01 |
| H2 FY1998 | 31 Mar 1998 | 33.00M | +362.83% | 1.54% | 433.97M | -400.97M | 0.01 |
| H1 FY1998 | 30 Sept 1997 | 7.13M | -71.23% | 0.42% | 255.06M | -247.93M | 0.00 |
| H2 FY1997 | 31 Mar 1997 | 7.13M | -71.23% | 0.63% | 255.06M | -247.93M | 0.00 |
| H1 FY1997 | 30 Sept 1996 | 24.79M | +99.21% | 1.86% | 240.69M | -215.90M | 0.01 |
| H2 FY1996 | 31 Mar 1996 | 24.79M | +99.21% | 2.91% | 240.69M | -215.90M | 0.01 |
| H1 FY1996 | 30 Sept 1995 | 12.44M | -74.95% | 1.46% | 127.10M | -114.66M | 0.01 |
| H2 FY1995 | 31 Mar 1995 | 12.44M | -74.95% | 1.92% | 127.10M | -114.66M | 0.01 |
| H1 FY1995 | 30 Sept 1994 | 49.67M | -36.11% | 6.57% | 154.37M | -104.70M | 0.02 |
| H2 FY1994 | 31 Mar 1994 | 49.67M | -36.11% | 8.28% | 154.37M | -104.70M | 0.02 |
| H1 FY1994 | 30 Sept 1993 | 77.75M | +28.91% | 15.67% | 165.02M | -87.27M | 0.03 |
| H2 FY1993 | 31 Mar 1993 | 77.75M | +28.91% | 22.11% | 165.02M | -87.27M | 0.03 |
| H1 FY1993 | 30 Sept 1992 | 60.32M | — | 14.75% | 103.47M | -43.15M | 0.02 |
| H2 FY1992 | 31 Mar 1992 | 60.32M | — | 24.21% | 103.47M | -43.15M | 0.02 |
| H1 FY1992 | 30 Sept 1991 | -11.63M | — | -2.82% | 95.80M | -107.44M | -0.00 |
| H2 FY1991 | 31 Mar 1991 | -11.63M | — | -4.46% | 95.80M | -107.44M | -0.00 |
| H1 FY1991 | 30 Sept 1990 | -11.63M | — | -6.53% | 95.80M | -107.44M | -0.00 |
| H2 FY1990 | 31 Mar 1990 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H1 FY1990 | 30 Sept 1989 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H2 FY1989 | 31 Mar 1989 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H1 FY1989 | 30 Sept 1988 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H2 FY1988 | 31 Mar 1988 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H1 FY1988 | 30 Sept 1987 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H2 FY1987 | 31 Mar 1987 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
| H1 FY1987 | 30 Sept 1986 | 0.00 | — | 0.00% | 0.00 | 0.00 | 0.00 |
Figures in EUR. Free cash flow is operating cash flow less capital expenditure. Quarterly growth is on the same quarter a year before; TTM is the last four quarters.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Total debt,Stock buybacks,Cash flow
Common questions about Vodafone Group's free cash flow
Source: Financial Modeling Prep
