53.38 USD
-1.26 (-2.31%)
Last: Feb 2, 2026, 08:00 PM
VEON gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 22 industry peers in the Wireless Telecommunication Services industry. While VEON has a great profitability rating, there are quite some concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on VEON.
1. Profitability
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.
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.
- With an excellent Return On Invested Capital value of 11.26%, VEON belongs to the best of the industry, outperforming 86.36% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for VEON 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
- The Profit Margin of VEON (15.24%) is better than 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.
- VEON's Operating Margin has been stable in the last couple of years.
- VEON has a Gross Margin of 88.24%. This is amongst the best in the industry. VEON outperforms 95.45% of its industry peers.
- 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
- 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 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.
2.2 Solvency
- Based on the Altman-Z score of 0.32, we must say that VEON is in the distress zone and has some risk of bankruptcy.
- VEON has a Altman-Z score of 0.32. This is in the lower half of the industry: VEON underperforms 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.
- Looking at the Debt to FCF ratio, with a value of 4.13, VEON is in the better half of the industry, outperforming 68.18% of the companies in the same industry.
- 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.
- VEON has a Current ratio (0.95) which 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.
- Looking at the Quick ratio, with a value of 0.94, VEON is in line with its industry, 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
- The Earnings Per Share has grown by an impressive 120.14% over the past year.
- 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.
- VEON shows a small growth in Revenue. In the last year, the Revenue has grown by 6.74%.
- The Revenue for VEON have been decreasing by -14.69% on average. This is quite bad
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
- Based on estimates for the next years, VEON will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.44% on average per year.
- The Revenue is expected to grow by 6.47% on average over the next years.
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
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- VEON is valuated rather expensively with a Price/Earnings ratio of 20.37.
- The rest of the industry has a similar Price/Earnings ratio as VEON.
- VEON's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.41.
- Based on the Price/Forward Earnings ratio of 6.80, the valuation of VEON can be described as very cheap.
- Based on the Price/Forward Earnings ratio, VEON is valued cheaply inside the industry as 100.00% of the companies are valued more expensively.
- VEON is valuated cheaply when we compare the Price/Forward Earnings ratio to 25.64, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.37 | ||
| Fwd PE | 6.8 |
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 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% |
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.