T vs VOD: AT&T and Vodafone Group PLC ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- AT&T is the larger company, worth $155.6B, about 4.0 times Vodafone Group PLC ADR.
- AT&T grew revenue faster over the last year (+2.3% vs +2.0%).
- AT&T keeps more of each dollar of revenue as operating profit (20.1% vs -1.1%).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | T | VOD |
|---|---|---|
| Market cap | $155.6B | $38.7B |
| Share price | $22.18 | $16.79 |
| Revenue (last fiscal year) | $125.6B | $37.4B |
| Free cash flow (last fiscal year) | $19.4B | $8.7B |
| Revenue growth, last year | +2.3% | +2.0% |
| Revenue growth per year, last 5 fiscal years | -1.6% | -3.8% |
| Operating margin | 20.1% | -1.1% |
| Net margin | 16.9% | -11.1% |
| Return on equity | 17.1% | -7.9% |
| P/E (trailing) | 7.37x | — |
| Price / free cash flow | 8.01x | 4.70x |
| EV / EBITDA | 5.37x | 5.50x |
| FCF growth the price implies | -7.2% | — |
| Dividend yield | 5.1% | 3.0% |
| Debt / equity | 2.39x | 1.41x |
| Fundamental grade | C | D |
| Superinvestors holding it | 6 | 0 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
AT&T
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $134.0B | $26.4B | 19.3% |
| 2022 | $120.7B | $16.2B | -3.8% |
| 2023 | $122.4B | $20.5B | 19.2% |
| 2024 | $122.3B | $18.5B | 15.6% |
| 2025 | $125.6B | $19.4B | 19.2% |
Vodafone Group PLC ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $43.8B | $8.6B | 11.7% |
| 2022 | $37.0B | $11.2B | 15.5% |
| 2023 | $37.7B | $10.3B | 38.4% |
| 2024 | $36.7B | $9.7B | 10.0% |
| 2025 | $37.4B | $8.7B | -1.1% |
Where the revenue comes from
AT&T · by segments, 2025
Communications$120.9B97%
Latin America Business Segment$4.4B3%
Vodafone Group PLC ADR · by segments, 2026
Germany$12.1B31%
UK$9.2B24%
Africa$8.4B22%
Other Europe$5.7B15%
Turkey$3.4B9%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open T in InvestinglyQuestions
Which is bigger, AT&T or Vodafone Group PLC ADR?
AT&T (T), at $155.6B against $38.7B.
Which grows faster, T or VOD?
AT&T: revenue grew +2.3% over the last year, against +2.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.