(VEON) VEON - Ratings and Ratios

Exchange: NASDAQ • Country: United Arab Emirates • Currency: USD • Type: Common Stock • ISIN: US91822M1062

Mobile, Internet, TV, Wallet, Healthcare

VEON EPS (Earnings per Share)

EPS (Earnings per Share) of VEON over the last years for every Quarter: "2020-09": 2.25, "2020-12": 0.75, "2021-03": 1.75, "2021-06": 1.5, "2021-09": 2.25, "2021-12": 0.0509, "2022-03": -0.1, "2022-06": 0.04, "2022-09": -0.29, "2022-12": 0, "2023-03": 4.8905, "2023-06": 3.5645, "2023-09": 6.3791, "2023-12": -50.7556, "2024-03": 0.8115, "2024-06": 0.9625, "2024-09": 1.393, "2024-12": 1.0062, "2025-03": 1.5, "2025-06": 8.5,

VEON Revenue

Revenue of VEON over the last years for every Quarter: 2020-09: 1819, 2020-12: 1999, 2021-03: 1830, 2021-06: 1902, 2021-09: 2005, 2021-12: 2052, 2022-03: 968, 2022-06: 957, 2022-09: 891, 2022-12: 940, 2023-03: 884, 2023-06: 916, 2023-09: 945, 2023-12: 953, 2024-03: 942, 2024-06: 1027, 2024-09: 1037, 2024-12: 998, 2025-03: 1026, 2025-06: 1087,

Description: VEON VEON August 03, 2025

VEON Ltd. is a digital operator providing telecommunications and digital services to customers across several countries, including Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh. The companys diverse service portfolio includes fixed-line and mobile telecommunications, internet and data access, digital financial services, and streaming platforms. VEON operates under various brands, such as Kyivstar, Banglalink, Jazz, and Beeline, and distributes its products and services through multiple channels, including direct sales, online platforms, and third-party retailers.

From a financial perspective, VEONs market capitalization stands at approximately $3.79 billion, with a price-to-earnings ratio of 9.41 and a forward P/E of 22.03, indicating a relatively undervalued stock with growth potential. The companys return on equity (RoE) is 33.65%, suggesting a strong ability to generate profits from shareholder equity. To further evaluate VEONs performance, key performance indicators (KPIs) such as revenue growth, EBITDA margin, and customer acquisition costs could be analyzed. For instance, VEONs revenue growth rate and EBITDA margin could provide insights into its operational efficiency and ability to expand its customer base.

Some additional KPIs that could be relevant for evaluating VEONs performance include average revenue per user (ARPU), customer churn rate, and 4G/LTE penetration. ARPU could help assess the companys ability to generate revenue from its customer base, while customer churn rate would indicate the effectiveness of its customer retention strategies. The 4G/LTE penetration rate would provide insights into the companys network capabilities and potential for growth in data-driven services. By analyzing these KPIs, investors could gain a more comprehensive understanding of VEONs strengths and weaknesses, as well as its potential for future growth.

VEON Stock Overview

Market Cap in USD 3,957m
Sub-Industry Wireless Telecommunication Services
IPO / Inception 1996-11-20

VEON Stock Ratings

Growth Rating 75.2%
Fundamental 74.0%
Dividend Rating 14.4%
Return 12m vs S&P 500 25.1%
Analyst Rating 5.0 of 5

VEON Dividends

Currently no dividends paid

VEON Growth Ratios

Growth Correlation 3m -90.2%
Growth Correlation 12m 77.9%
Growth Correlation 5y 11.6%
CAGR 5y 70.33%
CAGR/Max DD 3y (Calmar Ratio) 2.19
CAGR/Mean DD 3y (Pain Ratio) 8.42
Sharpe Ratio 12m -0.08
Alpha 18.30
Beta 1.576
Volatility 58.21%
Current Volume 91.9k
Average Volume 20d 91.9k
Stop Loss 43.9 (-5.1%)
Signal -0.62

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (903.0m TTM) > 0 and > 6% of Revenue (6% = 248.9m TTM)
FCFTA 0.05 (>2.0%) and ΔFCFTA -3.12pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue -8.38% (prev -17.56%; Δ 9.18pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.11 (>3.0%) and CFO 910.1m > Net Income 903.0m (YES >=105%, WARN >=100%)
Net Debt (3.63b) to EBITDA (1.40b) ratio: 2.60 <= 3.0 (WARN <= 3.5)
Current Ratio 0.88 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (70.1m) change vs 12m ago -0.78% (target <= -2.0% for YES)
Gross Margin 90.91% (prev 86.27%; Δ 4.64pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 52.53% (prev 52.76%; Δ -0.23pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 2.19 (EBITDA TTM 1.40b / Interest Expense TTM 375.3m) >= 6 (WARN >= 3)

Altman Z'' -2.39

(A) -0.04 = (Total Current Assets 2.65b - Total Current Liabilities 2.99b) / Total Assets 8.46b
(B) -0.34 = Retained Earnings (Balance) -2.84b / Total Assets 8.46b
(C) 0.10 = EBIT TTM 821.0m / Avg Total Assets 7.90b
(D) -1.64 = Book Value of Equity -11.45b / Total Liabilities 6.97b
Total Rating: -2.39 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 74.04

1. Piotroski 4.0pt = -1.0
2. FCF Yield 5.55% = 2.78
3. FCF Margin 9.48% = 2.37
4. Debt/Equity 3.76 = -1.78
5. Debt/Ebitda 2.60 = -1.14
6. ROIC - WACC (= 56.91)% = 12.50
7. RoE 77.13% = 2.50
8. Rev. Trend 90.71% = 6.80
9. EPS Trend 20.11% = 1.01

What is the price of VEON shares?

As of November 06, 2025, the stock is trading at USD 46.26 with a total of 91,928 shares traded.
Over the past week, the price has changed by -3.34%, over one month by -10.28%, over three months by -4.66% and over the past year by +48.75%.

Is VEON a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, VEON (NASDAQ:VEON) is currently (November 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 74.04 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of VEON is around 48.17 USD . This means that VEON is currently overvalued and has a potential downside of 4.13%.

Is VEON a buy, sell or hold?

VEON has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy VEON.
  • 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 69.6 50.5%
Analysts Target Price 69.6 50.5%
ValueRay Target Price 52.8 14.1%

VEON Fundamental Data Overview October 27, 2025

Market Cap USD = 3.96b (3.96b USD * 1.0 USD.USD)
P/E Trailing = 3.7253
P/E Forward = 13.5318
P/S = 0.954
P/B = 2.7162
P/EG = -0.63
Beta = 1.576
Revenue TTM = 4.15b USD
EBIT TTM = 821.0m USD
EBITDA TTM = 1.40b USD
Long Term Debt = 3.85b USD (estimated: total debt 4.91b - short term 1.06b)
Short Term Debt = 1.06b USD (from shortTermDebt, last quarter)
Debt = 4.91b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.63b USD (from netDebt column, last quarter)
Enterprise Value = 7.08b USD (3.96b + Debt 4.91b - CCE 1.79b)
Interest Coverage Ratio = 2.19 (Ebit TTM 821.0m / Interest Expense TTM 375.3m)
FCF Yield = 5.55% (FCF TTM 393.4m / Enterprise Value 7.08b)
FCF Margin = 9.48% (FCF TTM 393.4m / Revenue TTM 4.15b)
Net Margin = 21.77% (Net Income TTM 903.0m / Revenue TTM 4.15b)
Gross Margin = 90.91% ((Revenue TTM 4.15b - Cost of Revenue TTM 377.0m) / Revenue TTM)
Gross Margin QoQ = 90.43% (prev 87.43%)
Tobins Q-Ratio = 0.84 (Enterprise Value 7.08b / Total Assets 8.46b)
Interest Expense / Debt = 2.63% (Interest Expense 129.3m / Debt 4.91b)
Taxrate = 10.85% (74.0m / 682.0m)
NOPAT = 731.9m (EBIT 821.0m * (1 - 10.85%))
Current Ratio = 0.88 (Total Current Assets 2.65b / Total Current Liabilities 2.99b)
Debt / Equity = 3.76 (Debt 4.91b / totalStockholderEquity, last quarter 1.31b)
Debt / EBITDA = 2.60 (Net Debt 3.63b / EBITDA 1.40b)
Debt / FCF = 9.23 (Net Debt 3.63b / FCF TTM 393.4m)
Total Stockholder Equity = 1.17b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.67% (Net Income 903.0m / Total Assets 8.46b)
RoE = 77.13% (Net Income TTM 903.0m / Total Stockholder Equity 1.17b)
RoCE = 16.35% (EBIT 821.0m / Capital Employed (Equity 1.17b + L.T.Debt 3.85b))
RoIC = 63.48% (NOPAT 731.9m / Invested Capital 1.15b)
WACC = 6.57% (E(3.96b)/V(8.87b) * Re(11.82%) + D(4.91b)/V(8.87b) * Rd(2.63%) * (1-Tc(0.11)))
Discount Rate = 11.82% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -2.62%
[DCF Debug] Terminal Value 70.15% ; FCFE base≈463.6m ; Y1≈571.9m ; Y5≈975.8m
Fair Price DCF = 134.4 (DCF Value 9.29b / Shares Outstanding 69.2m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 20.11 | EPS CAGR: 6.00% | SUE: 4.0 | # QB: 1
Revenue Correlation: 90.71 | Revenue CAGR: 7.50% | SUE: 0.03 | # QB: 0

Additional Sources for VEON Stock

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Fund Manager Positions: Dataroma | Stockcircle