(VEON) VEON - Overview
Stock: Mobile, Broadband, Tv, Finance, Health
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 35.5% |
| Relative Tail Risk | -20.0% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.58 |
| Alpha | 3.32 |
| Character TTM | |
|---|---|
| Beta | 0.878 |
| Beta Downside | 0.976 |
| Drawdowns 3y | |
|---|---|
| Max DD | 32.15% |
| CAGR/Max DD | 1.50 |
Description: VEON VEON January 10, 2026
VEON Ltd. (NASDAQ:VEON) is a Dubai-based digital operator that delivers a broad suite of telecom and digital services across five emerging-market countries-Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh. Its portfolio spans fixed-line fiber, 2G/3G/4G mobile networks, prepaid and postpaid plans, roaming, mobile financial services, and a range of over-the-top (OTT) platforms (e.g., Kyivstar TV, JazzCash, BiP messenger, and Helsi health). The company markets these offerings under brands such as Kyivstar, Banglalink, Jazz, Beeline, IZI, and OQ, using a mix of direct sales, retail partners, and online channels.
Key recent metrics: FY2023 revenue reached approximately $4.9 billion, with a 6% YoY increase driven largely by mobile data consumption in Pakistan (Jazz) and Ukraine (Kyivstar). The combined subscriber base exceeded 210 million, and average revenue per user (ARPU) in the core markets grew 3% year-over-year, reflecting higher uptake of value-added services like mobile wallets and video streaming. Macro-level drivers include rising mobile penetration in South Asia (projected to hit 85% by 2027) and currency volatility in Ukraine, which can materially affect earnings when converting local revenues to USD.
For a deeper dive into VEON’s valuation sensitivities and peer comparisons, you may find the analytical tools on ValueRay worth exploring.
Piotroski VR‑10 (Strict, 0-10) 4.5
| Net Income: 563.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA -4.12 > 1.0 |
| NWC/Revenue: -3.76% < 20% (prev -16.34%; Δ 12.58% < -1%) |
| CFO/TA 0.14 > 3% & CFO 1.25b > Net Income 563.0m |
| Net Debt (3.48b) to EBITDA (1.08b): 3.22 < 3 |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (68.8m) vs 12m ago -2.79% < -2% |
| Gross Margin: 91.34% > 18% (prev 0.86%; Δ 9048 % > 0.5%) |
| Asset Turnover: 51.82% > 50% (prev 52.81%; Δ -0.99% > 0%) |
| Interest Coverage Ratio: 1.26 > 6 (EBITDA TTM 1.08b / Interest Expense TTM 383.7m) |
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 -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) |
| Altman-Z'' Score: -0.79 = CCC |
Beneish M -3.16
| DSRI: 0.99 (Receivables 549.0m/518.0m, Revenue 4.23b/3.96b) |
| GMI: 0.94 (GM 91.34% / 85.65%) |
| AQI: 0.94 (AQ_t 0.27 / AQ_t-1 0.29) |
| SGI: 1.07 (Revenue 4.23b / 3.96b) |
| TATA: -0.08 (NI 563.0m - CFO 1.25b) / TA 8.81b) |
| Beneish M-Score: -3.16 (Cap -4..+1) = AA |
What is the price of VEON shares?
Over the past week, the price has changed by -1.92%, over one month by +1.59%, over three months by +10.36% and over the past year by +22.90%.
Is VEON a buy, sell or hold?
- StrongBuy: 2
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the VEON price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 69.7 | 31.3% |
| Analysts Target Price | 69.7 | 31.3% |
| ValueRay Target Price | 60.1 | 13.3% |
VEON Fundamental Data Overview February 02, 2026
P/E Forward = 13.9082
P/S = 0.8921
P/B = 2.5716
P/EG = -0.63
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)
EV/FCF = -531.0x (Enterprise Value 7.43b / FCF TTM -14.0m)
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 = 30.82% (217.0m / 704.0m)
NOPAT = 333.4m (EBIT 482.0m * (1 - 30.82%))
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 = 6.90% (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 = 28.92% (NOPAT 333.4m / Invested Capital 1.15b)
WACC = 4.98% (E(3.95b)/V(9.10b) * Re(9.15%) + D(5.14b)/V(9.10b) * Rd(2.56%) * (1-Tc(0.31)))
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: 11.60 | EPS CAGR: -1.04% | SUE: -1.11 | # 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%