53.38 USD
-1.26 (-2.31%)
Last: Feb 2, 2026, 08:00 PM
We assign a fundamental rating of 5 out of 10 to VEON. VEON was compared to 22 industry peers in the Wireless Telecommunication Services industry. VEON has an excellent profitability rating, but there are concerns on its financial health. VEON may be a bit undervalued, certainly considering the very reasonable score on growth
1. Profitability
1.1 Basic Checks
- VEON had positive earnings in the past year.
- VEON had a positive operating cash flow in the past year.
- In multiple years VEON reported negative net income over the last 5 years.
- Each year in the past 5 years VEON had a positive operating cash flow.
1.2 Ratios
- Looking at the Return On Assets, with a value of 7.31%, VEON belongs to the top of the industry, outperforming 86.36% of the companies in the same industry.
- VEON's Return On Equity of 46.60% is amongst the best of the industry. VEON outperforms 100.00% of its industry peers.
- VEON has a better Return On Invested Capital (11.26%) than 86.36% of its industry peers.
- VEON had an Average Return On Invested Capital over the past 3 years of 11.44%. This is above the industry average of 6.55%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.31% | ||
| ROE | 46.6% | ||
| ROIC | 11.26% |
ROA(3y)-8.89%
ROA(5y)-4.97%
ROE(3y)-96.72%
ROE(5y)-77.85%
ROIC(3y)11.44%
ROIC(5y)10.01%
1.3 Margins
- VEON's Profit Margin of 15.24% is amongst the best of the industry. VEON outperforms 90.91% of its industry peers.
- In the last couple of years the Profit Margin of VEON has grown nicely.
- VEON has a Operating Margin of 22.43%. This is in the better half of the industry: VEON outperforms 77.27% of its industry peers.
- In the last couple of years the Operating Margin of VEON has remained more or less at the same level.
- Looking at the Gross Margin, with a value of 88.24%, VEON belongs to the top of the industry, outperforming 95.45% of the companies in the same industry.
- In the last couple of years the Gross Margin of VEON has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.43% | ||
| PM (TTM) | 15.24% | ||
| GM | 88.24% |
OM growth 3Y-3.83%
OM growth 5Y-0.35%
PM growth 3Y-16.1%
PM growth 5Y8.09%
GM growth 3Y-0.11%
GM growth 5Y2.49%
2. Health
2.1 Basic Checks
- VEON has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- The number of shares outstanding for VEON has been increased compared to 1 year ago.
- VEON has more shares outstanding than it did 5 years ago.
- The debt/assets ratio for VEON has been reduced compared to a year ago.
2.2 Solvency
- VEON has an Altman-Z score of 0.32. This is a bad value and indicates that VEON is not financially healthy and even has some risk of bankruptcy.
- The Altman-Z score of VEON (0.32) is worse than 72.73% of its industry peers.
- The Debt to FCF ratio of VEON is 4.13, which is a neutral value as it means it would take VEON, 4.13 years of fcf income to pay off all of its debts.
- VEON has a Debt to FCF ratio of 4.13. This is in the better half of the industry: VEON outperforms 68.18% of its industry peers.
- A Debt/Equity ratio of 2.92 is on the high side and indicates that VEON has dependencies on debt financing.
- Looking at the Debt to Equity ratio, with a value of 2.92, VEON is doing worse than 81.82% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.92 | ||
| Debt/FCF | 4.13 | ||
| Altman-Z | 0.32 |
ROIC/WACC1.28
WACC8.8%
2.3 Liquidity
- A Current Ratio of 0.95 indicates that VEON may have some problems paying its short term obligations.
- The Current ratio of VEON (0.95) is comparable to the rest of the industry.
- VEON has a Quick Ratio of 0.95. This is a bad value and indicates that VEON is not financially healthy enough and could expect problems in meeting its short term obligations.
- With a Quick ratio value of 0.94, VEON perfoms like the industry average, outperforming 59.09% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.95 | ||
| Quick Ratio | 0.94 |
3. Growth
3.1 Past
- VEON shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 120.14%, which is quite impressive.
- Measured over the past years, VEON shows a decrease in Earnings Per Share. The EPS has been decreasing by -8.57% on average per year.
- Looking at the last year, VEON shows a small growth in Revenue. The Revenue has grown by 6.74% in the last year.
- Measured over the past years, VEON shows a very negative growth in Revenue. The Revenue has been decreasing by -14.69% on average per year.
EPS 1Y (TTM)120.14%
EPS 3Y-15.41%
EPS 5Y-8.57%
EPS Q2Q%-116%
Revenue 1Y (TTM)6.74%
Revenue growth 3Y1.32%
Revenue growth 5Y-14.69%
Sales Q2Q%7.52%
3.2 Future
- The Earnings Per Share is expected to grow by 15.44% on average over the next years. This is quite good.
- VEON is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.47% yearly.
EPS Next Y83.29%
EPS Next 2Y22.79%
EPS Next 3Y22.25%
EPS Next 5Y15.44%
Revenue Next Year9.29%
Revenue Next 2Y8.6%
Revenue Next 3Y7.56%
Revenue Next 5Y6.47%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- A Price/Earnings ratio of 20.37 indicates a rather expensive valuation of VEON.
- VEON's Price/Earnings ratio is in line with the industry average.
- VEON is valuated rather cheaply when we compare the Price/Earnings ratio to 28.41, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 6.80 indicates a rather cheap valuation of VEON.
- Based on the Price/Forward Earnings ratio, VEON is valued cheaper than 100.00% of the companies in the same industry.
- When comparing the Price/Forward Earnings ratio of VEON to the average of the S&P500 Index (25.64), we can say VEON is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.37 | ||
| Fwd PE | 6.8 |
4.2 Price Multiples
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of VEON indicates a rather cheap valuation: VEON is cheaper than 100.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.03 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- VEON's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- VEON has an outstanding profitability rating, which may justify a higher PE ratio.
- A more expensive valuation may be justified as VEON's earnings are expected to grow with 22.25% in the coming years.
PEG (NY)0.24
PEG (5Y)N/A
EPS Next 2Y22.79%
EPS Next 3Y22.25%
5. Dividend
5.1 Amount
- No dividends for VEON!.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
NASDAQ:VEON (2/2/2026, 8:00:03 PM)
53.38
-1.26 (-2.31%)
Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)11-10 2025-11-10/bmo
Earnings (Next)03-16 2026-03-16/amc
Inst Owners26.04%
Inst Owner Change1.07%
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap3.77B
Revenue(TTM)4.23B
Net Income(TTM)644.00M
Analysts82.5
Price Target72.27 (35.39%)
Short Float %9.26%
Short Ratio2.72
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0% |
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)28.57%
Min EPS beat(2)-21.57%
Max EPS beat(2)78.71%
EPS beat(4)3
Avg EPS beat(4)35.64%
Min EPS beat(4)-21.57%
Max EPS beat(4)78.71%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)2.06%
Min Revenue beat(2)0%
Max Revenue beat(2)4.12%
Revenue beat(4)2
Avg Revenue beat(4)0.81%
Min Revenue beat(4)-1.87%
Max Revenue beat(4)4.12%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.07%
PT rev (3m)9.61%
EPS NQ rev (1m)0%
EPS NQ rev (3m)3.33%
EPS NY rev (1m)8.21%
EPS NY rev (3m)33.52%
Revenue NQ rev (1m)0.09%
Revenue NQ rev (3m)0.53%
Revenue NY rev (1m)0.7%
Revenue NY rev (3m)0.61%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.37 | ||
| Fwd PE | 6.8 | ||
| P/S | 0.89 | ||
| P/FCF | 3.03 | ||
| P/OCF | 3.04 | ||
| P/B | 2.73 | ||
| P/tB | N/A | ||
| EV/EBITDA | N/A |
EPS(TTM)2.62
EY4.91%
EPS(NY)7.85
Fwd EY14.71%
FCF(TTM)17.64
FCFY33.04%
OCF(TTM)17.55
OCFY32.88%
SpS59.81
BVpS19.56
TBVpS-2.17
PEG (NY)0.24
PEG (5Y)N/A
Graham Number33.96
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.31% | ||
| ROE | 46.6% | ||
| ROCE | 16.42% | ||
| ROIC | 11.26% | ||
| ROICexc | 17.35% | ||
| ROICexgc | 29.39% | ||
| OM | 22.43% | ||
| PM (TTM) | 15.24% | ||
| GM | 88.24% | ||
| FCFM | 29.48% |
ROA(3y)-8.89%
ROA(5y)-4.97%
ROE(3y)-96.72%
ROE(5y)-77.85%
ROIC(3y)11.44%
ROIC(5y)10.01%
ROICexc(3y)19.88%
ROICexc(5y)15.79%
ROICexgc(3y)51.88%
ROICexgc(5y)38.09%
ROCE(3y)16.68%
ROCE(5y)14.59%
ROICexgc growth 3Y65.7%
ROICexgc growth 5Y3.7%
ROICexc growth 3Y46.24%
ROICexc growth 5Y7.89%
OM growth 3Y-3.83%
OM growth 5Y-0.35%
PM growth 3Y-16.1%
PM growth 5Y8.09%
GM growth 3Y-0.11%
GM growth 5Y2.49%
F-Score6
Asset Turnover0.48
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 2.92 | ||
| Debt/FCF | 4.13 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 250 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 193.48% | ||
| Current Ratio | 0.95 | ||
| Quick Ratio | 0.94 | ||
| Altman-Z | 0.32 |
F-Score6
WACC8.8%
ROIC/WACC1.28
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)120.14%
EPS 3Y-15.41%
EPS 5Y-8.57%
EPS Q2Q%-116%
EPS Next Y83.29%
EPS Next 2Y22.79%
EPS Next 3Y22.25%
EPS Next 5Y15.44%
Revenue 1Y (TTM)6.74%
Revenue growth 3Y1.32%
Revenue growth 5Y-14.69%
Sales Q2Q%7.52%
Revenue Next Year9.29%
Revenue Next 2Y8.6%
Revenue Next 3Y7.56%
Revenue Next 5Y6.47%
EBIT growth 1Y2.82%
EBIT growth 3Y-2.56%
EBIT growth 5Y-14.99%
EBIT Next Year76.83%
EBIT Next 3Y28.9%
EBIT Next 5Y19.07%
FCF growth 1Y-25.92%
FCF growth 3Y-13.93%
FCF growth 5Y-2.16%
OCF growth 1Y-26.89%
OCF growth 3Y-24.51%
OCF growth 5Y-17.38%
VEON LTD / VEON FAQ
Can you provide the ChartMill fundamental rating for VEON LTD?
ChartMill assigns a fundamental rating of 5 / 10 to VEON.
What is the valuation status of VEON LTD (VEON) stock?
ChartMill assigns a valuation rating of 7 / 10 to VEON LTD (VEON). This can be considered as Undervalued.
What is the profitability of VEON stock?
VEON LTD (VEON) has a profitability rating of 8 / 10.
What is the valuation of VEON LTD based on its PE and PB ratios?
The Price/Earnings (PE) ratio for VEON LTD (VEON) is 20.37 and the Price/Book (PB) ratio is 2.73.
What is the expected EPS growth for VEON LTD (VEON) stock?
The Earnings per Share (EPS) of VEON LTD (VEON) is expected to grow by 83.29% in the next year.