Vodafone (LSE: VOD) Actions quickly climbed last year, jumping by 15% in a few weeks. It was the first sign of life with FTSE 100 The telecommunications group for years and tempted me to take a closer look.

So I did it. After considering numbers, debt, dividend perspective and a long -term trend of stock prices, I came to a clear conclusion. I didn’t buy.

For me, the risk still prevailed over the potential.

I have been a skeptic of Vodafone for a long time and I haven’t seen enough in the history of recovery to change my mind. I was not caught by the decreasing capacity of 10.4%, knowing that it would not survive.

I was not convinced that the long -burning return was finally underway. I said that I would not touch Vodafone’s shares from Bargepole. So I made the right phone?

Summer return

A quick look at the price of Vodafone calms the nerves. Over the past 12 months, shares have increased only 2.8%. Not bad according to your own standards, especially taking into account the recent variability. But it still delays FTSE 100, which increased by 6.2% in the same period.

FTSE 100 rival BT group Last year, he provided a 40% enhance in stock prices, showing what the appropriate telecommunications return could look like. Vodafone just didn’t fit it.

Has its strengths. Efficient efficiency is still decent at 4.9%, convenient above the average index about 3.6%.

It is also not so costly, with price ratio to a profit of 11.6.

Mixed signals

The results of 2024 group, published on May 20, painted a mixed image. Total revenues increased by 2% to EUR 37.4 billion, with revenues from ecological services increased by 5.1%.

In Africa and Turkey there was a robust enhance, but a 5% decrease in Germany due to more complex regulations and fierce competition. Vodafone suffered an operating loss worth EUR 400 million, although he was not helped by the charge of losing EUR 4.5 billion.

However, the management board announced the redemption of shares by EUR 2 billion. This should support the price of shares in a brief period.

Margherita Della Valle’s CEO insisted “Changed”But I still have to see more evidence

Watch and wait

Telecoms remains a complex sector. Requires gigantic investments and offers little space for errors. The net debt of Vodafone remains stubborn at EUR 33.9 billion. The feedback is real, but it is not complete yet.

Sentiments of analysts are reflected in uncertainty. Of the 15 inventory, four say that buy, four say sell and the rest are sitting on the fence. This is the largest sales indicator I’ve ever seen.

Analysts forecast the median of an annual share price of just over 85 pence, which is a tiny 10% enhance from today’s price. In combination with performance, which can provide a 15% return. It would be a good year according to Vodafone standards. We’ll see.

In one respect, actions that we do not buy are just as significant as those that were. So it’s worth looking back from time to time. I hope not with anger.

For now, I still see better places to invest. Others may consider buying Vodafone, but I keep Bargepole on hand.