(VEON) VEON - Ratings and Ratios
Mobile, Internet, Tv, Financial, Cloud
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 49.8% |
| Value at Risk 5%th | 67.0% |
| Relative Tail Risk | -18.14% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.82 |
| Alpha | 32.91 |
| CAGR/Max DD | 1.99 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.569 |
| Beta | 0.852 |
| Beta Downside | 0.937 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.15% |
| Mean DD | 8.40% |
| Median DD | 6.55% |
Description: VEON VEON November 07, 2025
VEON Ltd. (NASDAQ:VEON) is a Dubai-based digital operator serving Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh. Under brands such as Kyivstar, Banglalink, Jazz, and Beeline, it offers a full stack of telecom and digital services-including fixed-line fiber, 2G/3G/4G mobile connectivity, mobile financial platforms (JazzCash, Simply), streaming apps (Kyivstar TV, BeeTV), and a digital health service (Helsi).
In FY 2023 the company reported revenue of roughly $5.5 billion and an adjusted EBITDA margin near 20%, driven by a subscriber base of about 200 million lines across its markets. Average revenue per user (ARPU) has been under pressure in Ukraine and Pakistan due to currency depreciation, while ARPU growth in Bangladesh has outpaced peers, reflecting strong mobile-money adoption.
Key economic and sector drivers include: (1) macro-level GDP growth in its emerging-market footprint, which averaged 5.2% YoY in 2023, supporting demand for data and digital services; (2) ongoing regulatory reforms that affect spectrum allocation and mobile-money licensing, introducing both upside potential and execution risk; and (3) the rollout of 5G and fiber-to-the-home infrastructure, which could lift data ARPU by 8-12% annually if capital expenditures stay on schedule.
For a deeper quantitative breakdown of VEON’s valuation metrics and scenario analysis, the ValueRay platform offers a transparent data hub worth exploring.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income (563.0m TTM) > 0 and > 6% of Revenue (6% = 253.6m TTM) |
| FCFTA -0.00 (>2.0%) and ΔFCFTA -4.12pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue -3.76% (prev -16.34%; Δ 12.58pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.14 (>3.0%) and CFO 1.25b > Net Income 563.0m (YES >=105%, WARN >=100%) |
| Net Debt (3.48b) to EBITDA (1.08b) ratio: 3.22 <= 3.0 (WARN <= 3.5) |
| Current Ratio 0.95 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (68.8m) change vs 12m ago -2.79% (target <= -2.0% for YES) |
| Gross Margin 91.34% (prev 85.65%; Δ 5.69pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 51.82% (prev 52.81%; Δ -0.99pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 1.26 (EBITDA TTM 1.08b / Interest Expense TTM 383.7m) >= 6 (WARN >= 3) |
Altman Z'' -0.79
| (A) -0.02 = (Total Current Assets 2.88b - Total Current Liabilities 3.04b) / Total Assets 8.81b |
| (B) -0.40 = Retained Earnings (Balance) -3.53b / Total Assets 8.81b |
| (C) 0.06 = EBIT TTM 482.0m / Avg Total Assets 8.15b |
| (D) 0.23 = Book Value of Equity 1.65b / Total Liabilities 7.17b |
| Total Rating: -0.79 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 58.31
| 1. Piotroski 4.50pt |
| 2. FCF Yield -0.19% |
| 3. FCF Margin -0.33% |
| 4. Debt/Equity 3.12 |
| 5. Debt/Ebitda 3.22 |
| 6. ROIC - WACC (= 7.76)% |
| 7. RoE 42.82% |
| 8. Rev. Trend -14.10% |
| 9. EPS Trend 17.73% |
What is the price of VEON shares?
Over the past week, the price has changed by +1.59%, over one month by +8.05%, over three months by -4.80% and over the past year by +37.88%.
Is VEON a buy, sell or hold?
- Strong Buy: 2
- Buy: 0
- Hold: 0
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the VEON price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 69.7 | 36.3% |
| Analysts Target Price | 69.7 | 36.3% |
| ValueRay Target Price | 58.4 | 14.2% |
VEON Fundamental Data Overview December 05, 2025
P/E Trailing = 3.5701
P/E Forward = 12.87
P/S = 0.8027
P/B = 2.3139
P/EG = -0.63
Beta = 1.585
Revenue TTM = 4.23b USD
EBIT TTM = 482.0m USD
EBITDA TTM = 1.08b USD
Long Term Debt = 4.03b USD (estimated: total debt 5.14b - short term 1.11b)
Short Term Debt = 1.11b USD (from shortTermDebt, last quarter)
Debt = 5.14b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.48b USD (from netDebt column, last quarter)
Enterprise Value = 7.43b USD (3.95b + Debt 5.14b - CCE 1.66b)
Interest Coverage Ratio = 1.26 (Ebit TTM 482.0m / Interest Expense TTM 383.7m)
FCF Yield = -0.19% (FCF TTM -14.0m / Enterprise Value 7.43b)
FCF Margin = -0.33% (FCF TTM -14.0m / Revenue TTM 4.23b)
Net Margin = 13.32% (Net Income TTM 563.0m / Revenue TTM 4.23b)
Gross Margin = 91.34% ((Revenue TTM 4.23b - Cost of Revenue TTM 366.0m) / Revenue TTM)
Gross Margin QoQ = 88.07% (prev 90.43%)
Tobins Q-Ratio = 0.84 (Enterprise Value 7.43b / Total Assets 8.81b)
Interest Expense / Debt = 2.56% (Interest Expense 131.5m / Debt 5.14b)
Taxrate = -53.01% (out of range, set to none) (44.0m / -83.0m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 0.95 (Total Current Assets 2.88b / Total Current Liabilities 3.04b)
Debt / Equity = 3.12 (Debt 5.14b / totalStockholderEquity, last quarter 1.65b)
Debt / EBITDA = 3.22 (Net Debt 3.48b / EBITDA 1.08b)
Debt / FCF = -248.6 (out of range, set to none) (Net Debt 3.48b / FCF TTM -14.0m)
Total Stockholder Equity = 1.31b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.39% (Net Income 563.0m / Total Assets 8.81b)
RoE = 42.82% (Net Income TTM 563.0m / Total Stockholder Equity 1.31b)
RoCE = 9.01% (EBIT 482.0m / Capital Employed (Equity 1.31b + L.T.Debt 4.03b))
RoIC = 11.73% (EBIT 482.0m / (Assets 8.81b - Curr.Liab 3.04b - Cash 1.66b))
WACC = 3.98% (E(3.95b)/V(9.10b) * Re(9.15%) + (debt cost/tax rate unavailable))
Discount Rate = 9.15% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -3.56%
Fair Price DCF = unknown (Cash Flow -14.0m)
EPS Correlation: 17.73 | EPS CAGR: -0.27% | SUE: -0.56 | # QB: 0
Revenue Correlation: -14.10 | Revenue CAGR: -15.01% | SUE: 0.00 | # QB: 0
EPS next Year (2026-12-31): EPS=7.34 | Chg30d=-0.070 | Revisions Net=-1 | Growth EPS=+2.1% | Growth Revenue=+5.5%
Additional Sources for VEON Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle