Comprehensive Stock Comparison
Compare Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) vs VEON Ltd. (VEON) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | VEON | 8.3% revenue growth vs UZF's -95.7% |
| Value | VEON | Lower P/E (7.6x vs 15.4x) |
| Quality / Margins | VEON | 15.2% net margin vs UZF's 15.2% |
| Stability / Safety | UZF | Beta 0.24 vs VEON's 0.87, lower leverage |
| Dividends | UZF | 100.0% yield; 1-year raise streak; VEON pays no meaningful dividend |
| Momentum (1Y) | VEON | +25.1% vs UZF's -7.6% |
| Efficiency (ROA) | VEON | 7.3% ROA vs UZF's 5.9%, ROIC 19.4% vs -0.6% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
United States Cellular is a regional wireless telecommunications carrier providing mobile voice, data, and internet services primarily in rural and suburban markets. It generates revenue through postpaid and prepaid service plans (~80% of revenue), equipment sales of smartphones and devices (~20%), and roaming agreements with other carriers. Its competitive advantage lies in its established spectrum holdings and network infrastructure in underserved markets where national carriers have less presence.
VEON is a digital operator providing mobile connectivity and digital services across emerging markets in Eastern Europe and Asia. It generates revenue primarily from mobile services — voice, data, and digital content — with additional income from fixed-line and enterprise solutions. Its competitive advantage lies in its established infrastructure and market-leading positions in countries with high mobile penetration but growing digital adoption.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
VEON leads in 3 of 6 categories (Financial Metrics, Profitability & Efficiency). UZF leads in 2 (Valuation Metrics, Analyst Outlook). 1 tied.
Financial Metrics (TTM)
VEON is the larger business by revenue, generating $4.2B annually — 2.2x UZF's $1.9B. Profitability is closely matched — net margins range from 15.2% (VEON) to 15.2% (UZF). On growth, VEON holds the edge at +7.5% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | UZFArray Digital Inf… | VEONVEON Ltd. |
|---|---|---|
| RevenueTrailing 12 months | $1.9B | $4.2B |
| EBITDAEarnings before interest/tax | $430M | $2.1B |
| Net IncomeAfter-tax profit | $290M | $644M |
| Free Cash FlowCash after capex | $2.6B | $594M |
| Gross MarginGross profit ÷ Revenue | +57.5% | +88.2% |
| Operating MarginEBIT ÷ Revenue | +4.2% | +31.9% |
| Net MarginNet income ÷ Revenue | +15.2% | +15.2% |
| FCF MarginFCF ÷ Revenue | +137.8% | +14.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -93.8% | +7.5% |
| EPS Growth (YoY)Latest quarter vs prior year | +6.8% | -164.7% |
Valuation Metrics
At 5.8x trailing earnings, UZF trades at a 41% valuation discount to VEON's 9.8x P/E.
| Metric | UZFArray Digital Inf… | VEONVEON Ltd. |
|---|---|---|
| Market CapShares × price | $1.0B | $3.9B |
| Enterprise ValueMkt cap + debt − cash | $2.6B | $6.9B |
| Trailing P/EPrice ÷ TTM EPS | 5.80x | 9.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 15.36x | 7.55x |
| PEG RatioP/E ÷ EPS growth rate | 1.18x | — |
| EV / EBITDAEnterprise value multiple | — | 4.25x |
| Price / SalesMarket cap ÷ Revenue | 6.32x | 0.97x |
| Price / BookPrice ÷ Book value/share | 0.65x | 3.25x |
| Price / FCFMarket cap ÷ FCF | 0.39x | 7.44x |
Profitability & Efficiency
VEON delivers a 39.1% return on equity — every $100 of shareholder capital generates $39 in annual profit, vs $11 for UZF. UZF carries lower financial leverage with a 0.66x debt-to-equity ratio, signaling a more conservative balance sheet compared to VEON's 3.73x. On the Piotroski fundamental quality scale (0–9), VEON scores 6/9 vs UZF's 4/9, reflecting solid financial health.
| Metric | UZFArray Digital Inf… | VEONVEON Ltd. |
|---|---|---|
| ROE (TTM)Return on equity | +11.3% | +39.1% |
| ROA (TTM)Return on assets | +5.9% | +7.3% |
| ROICReturn on invested capital | -0.6% | +19.4% |
| ROCEReturn on capital employed | -0.7% | +24.5% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 0.66x | 3.73x |
| Net DebtTotal debt minus cash | $1.6B | $3.0B |
| Cash & Equiv.Liquid assets | $113M | $1.7B |
| Total DebtShort + long-term debt | $1.7B | $4.7B |
| Interest CoverageEBIT ÷ Interest expense | -1.74x | 2.24x |
Total Returns (with DRIP)
A $10,000 investment in VEON five years ago would be worth $12,672 today (with dividends reinvested), compared to $9,995 for UZF. Over the past 12 months, VEON leads with a +25.1% total return vs UZF's -7.6%. The 3-year compound annual growth rate (CAGR) favors VEON at 47.7% vs UZF's 12.6% — a key indicator of consistent wealth creation.
| Metric | UZFArray Digital Inf… | VEONVEON Ltd. |
|---|---|---|
| YTD ReturnYear-to-date | +7.8% | +7.0% |
| 1-Year ReturnPast 12 months | -7.6% | +25.1% |
| 3-Year ReturnCumulative with dividends | +42.6% | +222.2% |
| 5-Year ReturnCumulative with dividends | -0.1% | +26.7% |
| 10-Year ReturnCumulative with dividends | -0.1% | -8.4% |
| CAGR (3Y)Annualised 3-year return | +12.6% | +47.7% |
Risk & Volatility
UZF is the less volatile stock with a 0.24 beta — it tends to amplify market swings less than VEON's 0.87 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | UZFArray Digital Inf… | VEONVEON Ltd. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.24x | 0.87x |
| 52-Week HighHighest price in past year | $22.59 | $64.00 |
| 52-Week LowLowest price in past year | $16.53 | $34.55 |
| % of 52W HighCurrent price vs 52-week peak | +85.4% | +88.1% |
| RSI (14)Momentum oscillator 0–100 | 69.3 | 58.1 |
| Avg Volume (50D)Average daily shares traded | 10K | 67K |
Analyst Outlook
UZF is the only dividend payer here at 100.00% yield — a key consideration for income-focused portfolios.
| Metric | UZFArray Digital Inf… | VEONVEON Ltd. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Buy |
| Price TargetConsensus 12-month target | — | — |
| # AnalystsCovering analysts | — | 13 |
| Dividend YieldAnnual dividend ÷ price | +100.0% | — |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | $22.76 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +2.1% | +0.2% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | May 21 | Feb 26 | Change |
|---|---|---|---|
| Array Digital Infra… (UZF) | 100 | 71.9 | -28.1% |
| VEON Ltd. (VEON) | 100 | 118.62 | +18.6% |
VEON Ltd. (VEON) returned +27% over 5 years vs Array Digital Infra… (UZF)'s -0%. A $10,000 investment in VEON 5 years ago would be worth $12,672 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Array Digital Infra… (UZF) | $4.0B | $163M | -95.9% |
| VEON Ltd. (VEON) | $8.9B | $4.0B | -54.9% |
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070's revenue grew from $4.0B (2016) to $163M (2025) — a -29.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Array Digital Infra… (UZF) | 1.2% | 178.5% | +14739.7% |
| VEON Ltd. (VEON) | 26.2% | 10.4% | -60.4% |
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070's net margin went from 1% (2016) to 179% (2025).
Chart 4P/E Ratio History — 6 Years
| Stock | 2019 | 2025 | Change |
|---|---|---|---|
| Array Digital Infra… (UZF) | 14.8 | 5.3 | -64.2% |
| VEON Ltd. (VEON) | 7.1 | 7 | -1.4% |
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 has traded in a 5x–41x P/E range over 4 years; current trailing P/E is ~6x. VEON Ltd. has traded in a 5x–7x P/E range over 3 years; current trailing P/E is ~10x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Array Digital Infra… (UZF) | 0.56 | 3.33 | +494.6% |
| VEON Ltd. (VEON) | 7.87 | 5.73 | -27.2% |
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070's EPS grew from $0.56 (2016) to $3.33 (2025) — a 22% CAGR.
Chart 6Free Cash Flow — 5 Years
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 generated $3B FCF in 2025 (+312% vs 2021). VEON Ltd. generated $523M FCF in 2024 (-56% vs 2021).
UZF vs VEON: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is UZF or VEON a better buy right now?
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) offers the better valuation at 5.8x trailing P/E (15.4x forward), making it the more compelling value choice. Analysts rate VEON Ltd. (VEON) a "Buy" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — UZF or VEON?
On trailing P/E, Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) is the cheapest at 5.8x versus VEON Ltd. at 9.8x. On forward P/E, VEON Ltd. is actually cheaper at 7.6x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — UZF or VEON?
Over the past 5 years, VEON Ltd. (VEON) delivered a total return of +26.7%, compared to -0.1% for Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF). A $10,000 investment in VEON five years ago would be worth approximately $13K today (assuming dividends reinvested). Over 10 years, the gap is even starker: UZF returned -0.1% versus VEON's -8.4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — UZF or VEON?
By beta (market sensitivity over 5 years), Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) is the lower-risk stock at 0.24β versus VEON Ltd.'s 0.87β — meaning VEON is approximately 263% more volatile than UZF relative to the S&P 500. On balance sheet safety, Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) carries a lower debt/equity ratio of 66% versus 4% for VEON Ltd. — giving it more financial flexibility in a downturn.
05Which has better profit margins — UZF or VEON?
Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) is the more profitable company, earning 178.5% net margin versus 10.4% for VEON Ltd. — meaning it keeps 178.5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VEON leads at 27.7% versus -30.2% for UZF. At the gross margin level — before operating expenses — VEON leads at 87.1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is UZF or VEON more undervalued right now?
On forward earnings alone, VEON Ltd. (VEON) trades at 7.6x forward P/E versus 15.4x for Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 — 7.8x cheaper on a one-year earnings basis.
07Which pays a better dividend — UZF or VEON?
In this comparison, UZF (100.0% yield) pays a dividend. VEON does not pay a meaningful dividend and should not be held primarily for income.
08Is UZF or VEON better for a retirement portfolio?
For long-horizon retirement investors, Array Digital Infrastructure, Inc. 5.500% Senior Notes due 2070 (UZF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.24), 100.0% yield). Both have compounded well over 10 years (UZF: -0.1%, VEON: -8.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between UZF and VEON?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. UZF pays a dividend while VEON does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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- Sector: Communication Services
- Market Cap > $100B
- Net Margin > 9%
- Dividend Yield > 40.0%