VEON LTD (VEON) Fundamental Analysis & Valuation

NASDAQ:VEON • US91822M5022

Current stock price

54.43 USD
+1.83 (+3.47%)
At close:
54.43 USD
0 (0%)
After Hours:

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

  • VEON has a Return On Assets of 5.77%. This is in the better half of the industry: VEON outperforms 72.73% of its industry peers.
  • Looking at the Return On Equity, with a value of 39.70%, VEON belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • VEON has a Return On Invested Capital of 13.06%. This is amongst the best in 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 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.
  • VEON has a Operating Margin of 23.78%. This is amongst the best in the industry. VEON outperforms 81.82% of its industry peers.
  • 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.
  • VEON's Gross Margin has improved in the last couple of years.
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

More info and screens

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.
  • The number of shares outstanding for VEON has been reduced compared to 1 year ago.
  • Compared to 5 years ago, VEON has less shares outstanding
  • Compared to 1 year ago, VEON has an improved debt to assets ratio.
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

  • 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.
  • Looking at the Altman-Z score, with a value of 0.32, VEON is doing worse than 68.18% of the companies in the same industry.
  • The Debt to FCF ratio of VEON is 12.74, which is on the high side as it means it would take VEON, 12.74 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of VEON (12.74) is worse than 68.18% of its industry peers.
  • VEON has a Debt/Equity ratio of 3.02. This is a high value indicating a heavy dependency on external financing.
  • VEON has a worse Debt to Equity ratio (3.02) than 81.82% of its industry peers.
Industry RankSector Rank
Debt/Equity 3.02
Debt/FCF 12.74
Altman-Z 0.32
ROIC/WACC1.63
WACC8.01%
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

  • VEON has a Current 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.
  • VEON has a Current ratio of 0.91. This is comparable to the rest of the industry: VEON outperforms 50.00% of its industry peers.
  • A Quick Ratio of 0.90 indicates that VEON may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.90, VEON is in line with its industry, outperforming 50.00% of the companies in the same 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

More info and screens

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

5

3. VEON Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 29.17% over the past year.
  • The earnings per share for VEON have been decreasing by -27.02% on average. This is quite bad
  • The Revenue has grown by 9.87% in the past year. This is quite good.
  • 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

  • The Earnings Per Share is expected to grow by 59.10% on average over the next years. This is a very strong growth
  • The Revenue is expected to grow by 6.08% on average over the next years.
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

  • 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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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

7

4. VEON Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 45.74, the valuation of VEON can be described as expensive.
  • The rest of the industry has a similar Price/Earnings ratio as VEON.
  • The average S&P500 Price/Earnings ratio is at 27.53. VEON is valued rather expensively when compared to this.
  • With a Price/Forward Earnings ratio of 7.35, the valuation of VEON can be described as very cheap.
  • VEON's Price/Forward Earnings ratio is rather cheap when compared to the industry. VEON is cheaper than 86.36% of the companies in the same industry.
  • The average S&P500 Price/Forward Earnings ratio is at 37.95. 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

  • Based on the Enterprise Value to EBITDA ratio, VEON is valued cheaper than 90.91% of the companies in the same industry.
  • Based on the Price/Free Cash Flow ratio, VEON is valued a bit cheaper than the industry average as 77.27% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 9.26
EV/EBITDA 3.33
VEON Per share dataVEON EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

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.
  • The excellent profitability rating of VEON may justify a higher PE ratio.
  • A more expensive valuation may be justified as VEON's earnings are expected to grow with 109.84% in the coming years.
PEG (NY)0.09
PEG (5Y)N/A
EPS Next 2Y180.85%
EPS Next 3Y109.84%

More info and screens

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

0

5. VEON Dividend Analysis

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 Fundamentals: All Metrics, Ratios and Statistics

VEON LTD

NASDAQ:VEON (4/16/2026, 8:04:52 PM)

After market: 54.43 0 (0%)

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 3.33
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 0.32
F-Score7
WACC8.01%
ROIC/WACC1.63
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%.