VEON LTD (VEON) Stock Fundamental Analysis

NASDAQ:VEON • US91822M5022

53.11 USD
-0.15 (-0.28%)
Last: Feb 13, 2026, 10:07 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

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 scores excellent on profitability, but there are concerns on its financial health. VEON may be a bit undervalued, certainly considering the very reasonable score on growth


Dividend Valuation Growth Profitability Health

8

1. Profitability

1.1 Basic Checks

  • VEON had positive earnings in the past year.
  • In the past year VEON had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: VEON reported negative net income in multiple years.
  • In the past 5 years VEON always reported a positive cash flow from operatings.
VEON Yearly Net Income VS EBIT VS OCF VS FCFVEON Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B -1B 2B -2B

1.2 Ratios

  • With an excellent Return On Assets value of 7.31%, VEON belongs to the best of the industry, outperforming 86.36% of the companies in the same industry.
  • The Return On Equity of VEON (46.60%) is better than 100.00% of its industry peers.
  • VEON's Return On Invested Capital of 11.26% is amongst the best of the industry. VEON outperforms 86.36% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for VEON is above the industry average of 6.60%.
Industry RankSector 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%
VEON Yearly ROA, ROE, ROICVEON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 -100 -200

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.
  • VEON's Profit Margin has improved in the last couple of years.
  • 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 RankSector 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%
VEON Yearly Profit, Operating, Gross MarginsVEON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50 -50

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

2

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.
  • Compared to 1 year ago, VEON has more shares outstanding
  • The number of shares outstanding for VEON has been increased compared to 5 years ago.
  • VEON has a better debt/assets ratio than last year.
VEON Yearly Shares OutstandingVEON Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
VEON Yearly Total Debt VS Total AssetsVEON Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

  • Based on the Altman-Z score of 0.31, we must say that VEON is in the distress zone and has some risk of bankruptcy.
  • VEON has a Altman-Z score of 0.31. This is in the lower half of the industry: VEON underperforms 68.18% 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.
  • VEON has a Debt/Equity ratio of 2.92. This is a high value indicating a heavy dependency on external financing.
  • The Debt to Equity ratio of VEON (2.92) is worse than 81.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 2.92
Debt/FCF 4.13
Altman-Z 0.31
ROIC/WACC1.3
WACC8.66%
VEON Yearly LT Debt VS Equity VS FCFVEON Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.3 Liquidity

  • VEON has a Current 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.
  • Looking at the Current ratio, with a value of 0.95, VEON is in line with its industry, outperforming 59.09% of the companies in the same 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 RankSector Rank
Current Ratio 0.95
Quick Ratio 0.94
VEON Yearly Current Assets VS Current LiabilitesVEON Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • The Earnings Per Share has grown by an impressive 120.14% over the past year.
  • VEON shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -8.57% yearly.
  • VEON shows a small growth in Revenue. In the last year, the Revenue has grown by 6.74%.
  • 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

  • VEON is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 15.44% yearly.
  • The Revenue is expected to grow by 6.47% on average over the next years.
EPS Next Y80.74%
EPS Next 2Y22.58%
EPS Next 3Y22.03%
EPS Next 5Y15.44%
Revenue Next Year9.17%
Revenue Next 2Y8.24%
Revenue Next 3Y7.44%
Revenue Next 5Y6.47%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
VEON Yearly Revenue VS EstimatesVEON Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2B 4B 6B 8B 10B
VEON Yearly EPS VS EstimatesVEON Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 5 10 15

More info and screens

Find the best growth stocksShow best growing peers

8

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 20.27, the valuation of VEON can be described as rather expensive.
  • VEON's Price/Earnings ratio is a bit cheaper when compared to the industry. VEON is cheaper than 63.64% of the companies in the same industry.
  • Compared to an average S&P500 Price/Earnings ratio of 27.67, VEON is valued a bit cheaper.
  • The Price/Forward Earnings ratio is 6.79, which indicates a rather cheap valuation of VEON.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of VEON indicates a rather cheap valuation: VEON is cheaper than 100.00% of the companies listed in the same industry.
  • VEON's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.69.
Industry RankSector Rank
PE 20.27
Fwd PE 6.79
VEON Price Earnings VS Forward Price EarningsVEON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 100.00% of the companies in the same industry are more expensive than VEON, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 3.01
EV/EBITDA N/A
VEON Per share dataVEON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

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 22.03% in the coming years.
PEG (NY)0.25
PEG (5Y)N/A
EPS Next 2Y22.58%
EPS Next 3Y22.03%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • VEON does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

VEON LTD

NASDAQ:VEON (2/13/2026, 10:07:54 AM)

53.11

-0.15 (-0.28%)

Chartmill FA Rating
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)11-10
Earnings (Next)03-16
Inst Owners26.04%
Inst Owner Change-0.01%
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap3.75B
Revenue(TTM)4.23B
Net Income(TTM)644.00M
Analysts82.5
Price Target72.27 (36.08%)
Short Float %8.74%
Short Ratio2.86
Dividend
Industry RankSector 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)-2.36%
EPS NY rev (1m)6.71%
EPS NY rev (3m)-14.83%
Revenue NQ rev (1m)0.09%
Revenue NQ rev (3m)0.35%
Revenue NY rev (1m)0.59%
Revenue NY rev (3m)0.75%
Valuation
Industry RankSector Rank
PE 20.27
Fwd PE 6.79
P/S 0.89
P/FCF 3.01
P/OCF 3.03
P/B 2.72
P/tB N/A
EV/EBITDA N/A
EPS(TTM)2.62
EY4.93%
EPS(NY)7.83
Fwd EY14.74%
FCF(TTM)17.64
FCFY33.21%
OCF(TTM)17.55
OCFY33.05%
SpS59.81
BVpS19.56
TBVpS-2.17
PEG (NY)0.25
PEG (5Y)N/A
Graham Number33.96
Profitability
Industry RankSector 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 RankSector 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 0.31
F-Score6
WACC8.66%
ROIC/WACC1.3
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 Y80.74%
EPS Next 2Y22.58%
EPS Next 3Y22.03%
EPS Next 5Y15.44%
Revenue 1Y (TTM)6.74%
Revenue growth 3Y1.32%
Revenue growth 5Y-14.69%
Sales Q2Q%7.52%
Revenue Next Year9.17%
Revenue Next 2Y8.24%
Revenue Next 3Y7.44%
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 20.27 and the Price/Book (PB) ratio is 2.72.


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 80.74% in the next year.