VEON Stock Analysis: VEON | NASDAQ
Telecom Services | NASDAQ, USA | Market Cap: 3.601m USD | 12M Return: 19.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.22M
Qual. Beats: 0
Rev. Trend: 98.5%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
VEON Ltd. is a telecommunications and digital services provider operating across five emerging markets: Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. Its core offerings include mobile services on prepaid and postpaid plans, fixed-line services over fiber optic networks, wireless internet access on 2G, 3G, and 4G/LTE networks, mobile financial services, cross-border transmission, and international roaming. Distribution is handled through direct sales, franchises, third-party retailers, distributors, and online channels. The company was founded in 1992, is headquartered in Dubai, United Arab Emirates, and was rebranded from VimpelCom Ltd. to VEON Ltd. in March 2017.
Beyond core connectivity, VEON operates a large portfolio of owned digital assets, including fintech (the Simply neobank, Beepul), healthcare (ApnaClinic, Helsi, Hambi Davo), entertainment and media (Tamasha, Toffee, BeeTV, Kyivstar TV, KINOM), ride-hailing (Uklon), adtech (Adwisor), cloud infrastructure (Garaj, BCloud), and regional super-apps (MyBL, Janymda, Hambi). This diversification reflects a wider industry pattern among emerging-market wireless operators of moving beyond voice and data into adjacent digital verticals in order to deepen customer engagement, raise average revenue per user, and reduce dependence on commoditized connectivity services.
- Pakistani rupee depreciation pressures reported revenue
- Kyivstar Ukraine operations sustain subscriber growth amid conflict
- Digital services revenue grows double-digits led by fintech
| Net Income: 532.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 6.02 > 1.0 |
| NWC/Revenue: -11.00% < 20% (prev -18.64%; Δ 7.65% < -1%) |
| CFO/TA 0.14 > 3% & CFO 1.32b > Net Income 532.1m |
| Net Debt (3.24b) to EBITDA (1.59b): 2.03 < 3 |
| Current Ratio: 0.86 > 1.5 & < 3 |
| Outstanding Shares: last quarter (71.4m) vs 12m ago 1.86% < -2% |
| Gross Margin: 78.95% > 18% (prev 87.40%; Δ -8.45% > 0.5%) |
| Asset Turnover: 51.45% > 50% (prev 49.58%; Δ 1.87% > 0%) |
| Interest Coverage Ratio: 1.40 > 6 (EBIT TTM 776.5m / Interest Expense TTM 555.9m) |
| A: -0.05 (Total Current Assets 3.12b - Total Current Liabilities 3.62b) / Total Assets 9.60b |
| B: -0.30 (Retained Earnings -2.90b / Total Assets 9.60b) |
| C: 0.09 (EBIT TTM 776.5m / Avg Total Assets 8.92b) |
| D: 0.19 (Book Value of Equity 1.47b / Total Liabilities 7.74b) |
| Altman-Z'' = -0.55 = B |
| DSRI: 1.08 (Receivables 693.0m/569.0m, Revenue 4.59b/4.09b) |
| GMI: 1.11 (GM 87.40% / 78.95%) |
| AQI: 1.06 (AQ_t 0.28 / AQ_t-1 0.26) |
| SGI: 1.12 (Revenue 4.59b / 4.09b) |
| TATA: -0.08 (NI 532.1m - CFO 1.32b) / TA 9.60b) |
| Beneish M = -2.75 (Cap -4..+1) = A |
As of July 04, 2026, the stock is trading at USD 52.00 with a total of 81,400 shares traded. Over the past week, the price has changed by +1.03%, over one month by -1.16%, over three months by +7.24% and over the past year by +19.93%.
Current recommended Stop Loss: 46.90 (which is 9.8% or 2.7 ATR below the current price).
VEON has received a consensus analysts rating of 5.00. Therefore, it is recommended to buy VEON.
- StrongBuy: 2
- Buy: 0
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 82.9 | 59.4% |
P/E Trailing = 6.9333
P/E Forward = 7.8247
P/S = 0.7872
P/B = 2.4673
P/EG = 2.2274
Revenue TTM = 4.59b USD
EBIT TTM = 776.5m USD
EBITDA TTM = 1.59b USD
Long Term Debt = 4.00b USD (estimated: total debt 5.42b - short term 1.42b)
Short Term Debt = 1.42b USD (from shortTermDebt, last quarter)
Debt = 5.42b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.24b USD (calculated: Debt 5.42b - CCE 2.18b)
Enterprise Value = 6.84b USD (3.60b + Debt 5.42b - CCE 2.18b)
Interest Coverage Ratio = 1.40 (Ebit TTM 776.5m / Interest Expense TTM 555.9m)
EV/FCF = 12.93x (Enterprise Value 6.84b / FCF TTM 529.0m)
FCF Yield = 7.73% (FCF TTM 529.0m / Enterprise Value 6.84b)
FCF Margin = 11.52% (FCF TTM 529.0m / Revenue TTM 4.59b)
Net Margin = 11.59% (Net Income TTM 532.1m / Revenue TTM 4.59b)
Gross Margin = 78.95% ((Revenue TTM 4.59b - Cost of Revenue TTM 966.4m) / Revenue TTM)
Gross Margin QoQ = 70.02% (prev 68.92%)
Tobins Q-Ratio = 0.71 (Enterprise Value 6.84b / Total Assets 9.60b)
Interest Expense / Debt = 10.25% (Interest Expense 555.9m / Debt 5.42b)
Taxrate = 28.94% (242.9m / 839.4m)
NOPAT = 551.8m (EBIT 776.5m * (1 - 28.94%))
Current Ratio = 0.86 (Total Current Assets 3.12b / Total Current Liabilities 3.62b)
Debt / Equity = 3.69 (Debt 5.42b / totalStockholderEquity, last quarter 1.47b)
Debt / EBITDA = 2.03 (Net Debt 3.24b / EBITDA 1.59b)
Debt / FCF = 6.12 (Net Debt 3.24b / FCF TTM 529.0m)
Total Stockholder Equity = 1.37b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.96% (Net Income 532.1m / Total Assets 9.60b)
RoE = 38.73% (Net Income TTM 532.1m / Total Stockholder Equity 1.37b)
RoCE = 14.44% (EBIT 776.5m / Capital Employed (Equity 1.37b + L.T.Debt 4.00b))
RoIC = 7.70% (NOPAT 551.8m / Invested Capital 7.17b)
WACC = 7.55% (E(3.60b)/V(9.02b) * Re(7.94%) + D(5.42b)/V(9.02b) * Rd(10.25%) * (1-Tc(0.29)))
Discount Rate = 7.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -17.98 | Cagr: -1.53%
[DCF] Terminal Value 75.44% ; FCFF base≈529.0m ; Y1≈531.2m ; Y5≈562.7m
[DCF] Fair Price = 79.61 (EV 8.75b - Net Debt 3.24b = Equity 5.51b / Shares 69.2m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.02 | # QB: 0
Revenue Correlation: 98.46 | Revenue CAGR: 8.46% | SUE: 0.03 | # QB: 0
EPS current Quarter (2026-06-30): EPS=1.59 | Chg30d=-17.62% | Revisions=+0% | Analysts=1
EPS next Quarter (2026-09-30): EPS=1.72 | Chg30d=-19.63% | Revisions=+25% | Analysts=1
EPS current Year (2026-12-31): EPS=6.95 | Chg30d=-4.80% | Revisions=-17% | GrowthEPS=+39.3% | GrowthRev=+12.3%
EPS next Year (2027-12-31): EPS=8.29 | Chg30d=-3.91% | Revisions=-17% | GrowthEPS=+19.3% | GrowthRev=+7.7%
[Analyst] Revisions Ratio: -10% (up=3, down=4)