VEON LTD (VEON) Fundamental Analysis & Valuation

NASDAQ:VEON • US91822M5022

Current stock price

54.43 USD
+1.83 (+3.47%)
Last:

This VEON fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

8

1. VEON Profitability Analysis

1.1 Basic Checks

  • In the past year VEON was profitable.
  • VEON had a positive operating cash flow in the past year.
  • In multiple years VEON reported negative net income over the last 5 years.
  • VEON had a positive operating cash flow in each of the past 5 years.
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 2025 0 1B -1B 2B -2B

1.2 Ratios

  • With a decent Return On Assets value of 5.77%, VEON is doing good in the industry, outperforming 72.73% of the companies in the same industry.
  • VEON has a better Return On Equity (39.70%) than 100.00% of its industry peers.
  • VEON's Return On Invested Capital of 13.06% is amongst the best of the industry. VEON outperforms 86.36% of its industry peers.
  • VEON had an Average Return On Invested Capital over the past 3 years of 14.17%. This is significantly above the industry average of 7.50%.
Industry RankSector Rank
ROA 5.77%
ROE 39.7%
ROIC 13.06%
ROA(3y)-6.61%
ROA(5y)-3.34%
ROE(3y)-74%
ROE(5y)-27.09%
ROIC(3y)14.17%
ROIC(5y)11.15%
VEON Yearly ROA, ROE, ROICVEON Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100 -100 -200

1.3 Margins

  • VEON's Profit Margin of 12.09% is fine compared to the rest of the industry. VEON outperforms 77.27% of its industry peers.
  • With an excellent Operating Margin value of 23.78%, VEON belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
  • VEON's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 88.04%, VEON belongs to the top of the industry, outperforming 90.91% 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 23.78%
PM (TTM) 12.09%
GM 88.04%
OM growth 3Y-2.69%
OM growth 5Y4.23%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.27%
GM growth 5Y2.85%
VEON Yearly Profit, Operating, Gross MarginsVEON Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50 -50

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. VEON Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so VEON is still creating some value.
  • Compared to 1 year ago, VEON has less shares outstanding
  • The number of shares outstanding for VEON has been reduced compared to 5 years ago.
  • The debt/assets ratio for VEON has been reduced compared to a year ago.
VEON Yearly Shares OutstandingVEON Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 5B 10B 15B 20B

2.2 Solvency

  • VEON has an Altman-Z score of 0.31. 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 (0.31) is worse than 63.64% of its industry peers.
  • VEON has a debt to FCF ratio of 12.74. This is a negative value and a sign of low solvency as VEON would need 12.74 years to pay back of all of its debts.
  • The Debt to FCF ratio of VEON (12.74) is worse than 68.18% of its industry peers.
  • A Debt/Equity ratio of 3.02 is on the high side and indicates that VEON has dependencies on debt financing.
  • VEON's Debt to Equity ratio of 3.02 is on the low side compared to the rest of the industry. VEON is outperformed by 81.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.02
Debt/FCF 12.74
Altman-Z 0.31
ROIC/WACC1.62
WACC8.06%
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 2025 2B 4B 6B 8B 10B

2.3 Liquidity

  • A Current Ratio of 0.91 indicates that VEON may have some problems paying its short term obligations.
  • VEON has a Current ratio (0.91) which is in line with its industry peers.
  • VEON has a Quick Ratio of 0.91. This is a bad value and indicates that VEON is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of VEON (0.90) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.91
Quick Ratio 0.9
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 2025 2B 4B 6B

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

5

3. VEON Growth Analysis

3.1 Past

  • VEON shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 29.17%, which is quite impressive.
  • Measured over the past years, VEON shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -27.02% on average per year.
  • VEON shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 9.87%.
  • VEON shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -9.61% yearly.
EPS 1Y (TTM)29.17%
EPS 3YN/A
EPS 5Y-27.02%
EPS Q2Q%-145.92%
Revenue 1Y (TTM)9.87%
Revenue growth 3Y5.42%
Revenue growth 5Y-9.61%
Sales Q2Q%17.33%

3.2 Future

  • Based on estimates for the next years, VEON will show a very strong growth in Earnings Per Share. The EPS will grow by 59.10% on average per year.
  • Based on estimates for the next years, VEON will show a small growth in Revenue. The Revenue will grow by 6.08% on average per year.
EPS Next Y522.07%
EPS Next 2Y180.85%
EPS Next 3Y109.84%
EPS Next 5Y59.1%
Revenue Next Year8.63%
Revenue Next 2Y6.51%
Revenue Next 3Y5.83%
Revenue Next 5Y6.08%

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.
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

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8

4. VEON Valuation Analysis

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 45.74 indicates a quite expensive valuation of VEON.
  • VEON's Price/Earnings ratio is in line with the industry average.
  • VEON is valuated expensively when we compare the Price/Earnings ratio to 27.38, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 7.35, the valuation of VEON can be described as very cheap.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of VEON indicates a rather cheap valuation: VEON is cheaper than 86.36% of the companies listed in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 38.20. VEON is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 45.74
Fwd PE 7.35
VEON Price Earnings VS Forward Price EarningsVEON Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40 50

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VEON indicates a rather cheap valuation: VEON is cheaper than 90.91% of the companies listed in the same industry.
  • Based on the Price/Free Cash Flow ratio, VEON is valued cheaply inside the industry as 86.36% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 9.26
EV/EBITDA 3.26
VEON Per share dataVEON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

  • The 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.
  • VEON's earnings are expected to grow with 109.84% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.09
PEG (5Y)N/A
EPS Next 2Y180.85%
EPS Next 3Y109.84%

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

0

5. VEON Dividend Analysis

5.1 Amount

  • No dividends for VEON!.
Industry RankSector Rank
Dividend Yield 0%

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Find the best dividend stocksShow peers with best dividend

VEON Fundamentals: All Metrics, Ratios and Statistics

VEON LTD

NASDAQ:VEON (4/16/2026, 4:30:02 PM)

54.43

+1.83 (+3.47%)

Chartmill FA Rating
GICS IndustryGroupTelecommunication Services
GICS IndustryWireless Telecommunication Services
Earnings (Last)03-13
Earnings (Next)05-13
Inst Owners26.64%
Inst Owner Change0%
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap3.74B
Revenue(TTM)4.40B
Net Income(TTM)532.00M
Analysts82.5
Price Target77.11 (41.67%)
Short Float %6.64%
Short Ratio1.73
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)-30.7%
Min EPS beat(2)-140.11%
Max EPS beat(2)78.71%
EPS beat(4)2
Avg EPS beat(4)-5.58%
Min EPS beat(4)-140.11%
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)1.59%
Min Revenue beat(2)0%
Max Revenue beat(2)3.17%
Revenue beat(4)3
Avg Revenue beat(4)2.07%
Min Revenue beat(4)0%
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)6.7%
PT rev (3m)6.78%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-2.35%
EPS NY rev (3m)-1.83%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)1.41%
Revenue NY rev (3m)1.5%
Valuation
Industry RankSector Rank
PE 45.74
Fwd PE 7.35
P/S 0.85
P/FCF 9.26
P/OCF 2.77
P/B 2.79
P/tB N/A
EV/EBITDA 3.26
EPS(TTM)1.19
EY2.19%
EPS(NY)7.4
Fwd EY13.6%
FCF(TTM)5.87
FCFY10.79%
OCF(TTM)19.68
OCFY36.15%
SpS63.97
BVpS19.49
TBVpS-3.04
PEG (NY)0.09
PEG (5Y)N/A
Graham Number22.8415 (-58.04%)
Profitability
Industry RankSector Rank
ROA 5.77%
ROE 39.7%
ROCE 18.09%
ROIC 13.06%
ROICexc 21.21%
ROICexgc 37.53%
OM 23.78%
PM (TTM) 12.09%
GM 88.04%
FCFM 9.18%
ROA(3y)-6.61%
ROA(5y)-3.34%
ROE(3y)-74%
ROE(5y)-27.09%
ROIC(3y)14.17%
ROIC(5y)11.15%
ROICexc(3y)24.78%
ROICexc(5y)18.44%
ROICexgc(3y)62.71%
ROICexgc(5y)42.82%
ROCE(3y)19.62%
ROCE(5y)15.43%
ROICexgc growth 3Y41.21%
ROICexgc growth 5Y9.3%
ROICexc growth 3Y29.77%
ROICexc growth 5Y11.8%
OM growth 3Y-2.69%
OM growth 5Y4.23%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y0.27%
GM growth 5Y2.85%
F-Score7
Asset Turnover0.48
Health
Industry RankSector Rank
Debt/Equity 3.02
Debt/FCF 12.74
Debt/EBITDA 2.18
Cap/Depr 117.02%
Cap/Sales 21.57%
Interest Coverage 2.62
Cash Conversion 72.86%
Profit Quality 75.94%
Current Ratio 0.91
Quick Ratio 0.9
Altman-Z 0.31
F-Score7
WACC8.06%
ROIC/WACC1.62
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)29.17%
EPS 3YN/A
EPS 5Y-27.02%
EPS Q2Q%-145.92%
EPS Next Y522.07%
EPS Next 2Y180.85%
EPS Next 3Y109.84%
EPS Next 5Y59.1%
Revenue 1Y (TTM)9.87%
Revenue growth 3Y5.42%
Revenue growth 5Y-9.61%
Sales Q2Q%17.33%
Revenue Next Year8.63%
Revenue Next 2Y6.51%
Revenue Next 3Y5.83%
Revenue Next 5Y6.08%
EBIT growth 1Y8.62%
EBIT growth 3Y2.58%
EBIT growth 5Y-5.78%
EBIT Next Year58.91%
EBIT Next 3Y21.08%
EBIT Next 5Y15.55%
FCF growth 1Y-64.41%
FCF growth 3Y-36.08%
FCF growth 5Y-12.01%
OCF growth 1Y19.21%
OCF growth 3Y-19.12%
OCF growth 5Y-11.15%

VEON LTD / VEON Fundamental Analysis 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 8 / 10 to VEON LTD (VEON). This can be considered as Undervalued.


How profitable is VEON LTD (VEON) stock?

VEON LTD (VEON) has a profitability rating of 8 / 10.


What are the PE and PB ratios of VEON LTD (VEON) stock?

The Price/Earnings (PE) ratio for VEON LTD (VEON) is 45.74 and the Price/Book (PB) ratio is 2.79.


How sustainable is the dividend of VEON LTD (VEON) stock?

The dividend rating of VEON LTD (VEON) is 0 / 10 and the dividend payout ratio is 0%.