VEON
VEON Ltd.
Telecommunications Services
Market Cap$3.39B
5Y Perf.+31.9%
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Stock Comparison
VEON vs VIV
Revenue, margins, valuation, and 5-year total return — side by side.
VIV
Telefônica Brasil S.A.
Telecommunications Services
Market Cap$25.45B
5Y Perf.+81.6%
VEON vs VIV — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | VEON | VIV |
|---|---|---|
| Industry | Telecommunications Services | Telecommunications Services |
| Market Cap | $3.39B | $25.45B |
| Revenue (TTM) | $4.23B | $59.83B |
| Net Income (TTM) | $644M | $6.20B |
| Gross Margin | 88.2% | 43.6% |
| Operating Margin | 31.9% | 15.8% |
| Forward P/E | 6.5x | 2.9x |
| Total Debt | $4.69B | $20.75B |
| Cash & Equiv. | $1.69B | $6.69B |
VEON vs VIV — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
VEON
VIV
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| VEON Ltd. (VEON) | 100 | 131.9 | +31.9% |
| Telefônica Brasil S… (VIV) | 100 | 181.6 | +81.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: VEON vs VIV
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: VIV leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and capital preservation and lower volatility. VEON Ltd. is the stronger pick specifically for growth and revenue expansion and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
VEON
VEON Ltd.
The Income Pick
VEON is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 0 yrs, beta 1.47
- Rev growth 8.3%, EPS growth 115.9%, 3Y rev CAGR 1.3%
- 8.3% revenue growth vs VIV's 7.2%
Best for: income & stability and growth exposure
VIV
Telefônica Brasil S.A.
The Long-Run Compounder
VIV carries the broadest edge in this set and is the clearest fit for long-term compounding and sleep-well-at-night.
- 81.3% 10Y total return vs VEON's -11.2%
- Lower volatility, beta 0.53, Low D/E 29.7%, current ratio 0.94x
- Beta 0.53, yield 2.0%, current ratio 0.94x
Best for: long-term compounding and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | VEON | 8.3% revenue growth vs VIV's 7.2% |
| Value | VIV | Lower P/E (2.9x vs 6.5x) |
| Quality / Margins | VEON | 15.2% margin vs VIV's 10.4% |
| Stability / Safety | VIV | Beta 0.53 vs VEON's 1.47, lower leverage |
| Dividends | VIV | 2.0% yield; the other pay no meaningful dividend |
| Momentum (1Y) | VIV | +65.9% vs VEON's +7.6% |
| Efficiency (ROA) | VEON | 7.7% ROA vs VIV's 4.8%, ROIC 19.4% vs 7.8% |
VEON vs VIV — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
VEON vs VIV — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLVEONLAGGINGVIV
VIVTelefônica Brasil S.A.
2leads
VEONVEON Ltd.
2leads
6 Total Categories
CATEGORYLEADERvs VIVMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
Tied
—
Valuation MetricsMultiples, price ratios, and targets
VEON4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
VEON6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
VIV4/6
Risk & VolatilityBeta, volatility, and downside exposure
VIV2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
Evenly matched — VEON and VIV each lead in 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
VIV is the larger business by revenue, generating $59.8B annually — 14.2x VEON's $4.2B. Profitability is closely matched — net margins range from 15.2% (VEON) to 10.4% (VIV).
| Metric | VEONVEON Ltd. | VIVTelefônica Brasil… |
|---|---|---|
| RevenueTrailing 12 months | $4.2B | $59.8B |
| EBITDAEarnings before interest/tax | $2.1B | $24.5B |
| Net IncomeAfter-tax profit | $644M | $6.2B |
| Free Cash FlowCash after capex | $590M | $11.3B |
| Gross MarginGross profit ÷ Revenue | +88.2% | +43.6% |
| Operating MarginEBIT ÷ Revenue | +31.9% | +15.8% |
| Net MarginNet income ÷ Revenue | +15.2% | +10.4% |
| FCF MarginFCF ÷ Revenue | +14.0% | +18.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +7.5% | +8.7% |
| EPS Growth (YoY)Latest quarter vs prior year | -164.7% | +11.1% |
Evenly matched — VEON and VIV each lead in 3 of 6 comparable metrics.
Valuation Metrics
VEON leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 8.6x trailing earnings, VEON trades at a 63% valuation discount to VIV's 23.3x P/E. On an enterprise value basis, VEON's 3.9x EV/EBITDA is more attractive than VIV's 6.1x.
| Metric | VEONVEON Ltd. | VIVTelefônica Brasil… |
|---|---|---|
| Market CapShares × price | $3.4B | $25.5B |
| Enterprise ValueMkt cap + debt − cash | $6.4B | $28.3B |
| Trailing P/EPrice ÷ TTM EPS | 8.57x | 23.27x |
| Forward P/EPrice ÷ next-FY EPS est. | 6.50x | 2.88x |
| PEG RatioP/E ÷ EPS growth rate | — | 8.65x |
| EV / EBITDAEnterprise value multiple | 3.94x | 6.11x |
| Price / SalesMarket cap ÷ Revenue | 0.85x | 2.25x |
| Price / BookPrice ÷ Book value/share | 2.83x | 1.85x |
| Price / FCFMarket cap ÷ FCF | 6.48x | 11.91x |
VEON leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
VEON leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
VEON delivers a 44.5% return on equity — every $100 of shareholder capital generates $45 in annual profit, vs $9 for VIV. VIV carries lower financial leverage with a 0.30x debt-to-equity ratio, signaling a more conservative balance sheet compared to VEON's 3.73x. On the Piotroski fundamental quality scale (0–9), VIV scores 7/9 vs VEON's 6/9, reflecting strong financial health.
| Metric | VEONVEON Ltd. | VIVTelefônica Brasil… |
|---|---|---|
| ROE (TTM)Return on equity | +44.5% | +9.0% |
| ROA (TTM)Return on assets | +7.7% | +4.8% |
| ROICReturn on invested capital | +19.4% | +7.8% |
| ROCEReturn on capital employed | +24.5% | +8.6% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 3.73x | 0.30x |
| Net DebtTotal debt minus cash | $3.0B | $14.1B |
| Cash & Equiv.Liquid assets | $1.7B | $6.7B |
| Total DebtShort + long-term debt | $4.7B | $20.7B |
| Interest CoverageEBIT ÷ Interest expense | 2.24x | 15.03x |
VEON leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
VIV leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in VIV five years ago would be worth $21,694 today (with dividends reinvested), compared to $10,566 for VEON. Over the past 12 months, VIV leads with a +65.9% total return vs VEON's +7.6%. The 3-year compound annual growth rate (CAGR) favors VEON at 36.4% vs VIV's 28.0% — a key indicator of consistent wealth creation.
| Metric | VEONVEON Ltd. | VIVTelefônica Brasil… |
|---|---|---|
| YTD ReturnYear-to-date | -6.8% | +32.5% |
| 1-Year ReturnPast 12 months | +7.6% | +65.9% |
| 3-Year ReturnCumulative with dividends | +153.9% | +109.8% |
| 5-Year ReturnCumulative with dividends | +5.7% | +116.9% |
| 10-Year ReturnCumulative with dividends | -11.2% | +81.3% |
| CAGR (3Y)Annualised 3-year return | +36.4% | +28.0% |
VIV leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
VIV leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
VIV is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than VEON's 1.47 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. VIV currently trades 92.3% from its 52-week high vs VEON's 76.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | VEONVEON Ltd. | VIVTelefônica Brasil… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.47x | 0.53x |
| 52-Week HighHighest price in past year | $64.00 | $17.25 |
| 52-Week LowLowest price in past year | $34.55 | $9.41 |
| % of 52W HighCurrent price vs 52-week peak | +76.8% | +92.3% |
| RSI (14)Momentum oscillator 0–100 | 43.1 | 53.4 |
| Avg Volume (50D)Average daily shares traded | 108K | 968K |
VIV leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates VEON as "Buy" and VIV as "Hold". Consensus price targets imply 50.6% upside for VEON (target: $74) vs 3.6% for VIV (target: $17). VIV is the only dividend payer here at 1.96% yield — a key consideration for income-focused portfolios.
| Metric | VEONVEON Ltd. | VIVTelefônica Brasil… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $74.00 | $16.50 |
| # AnalystsCovering analysts | 13 | 12 |
| Dividend YieldAnnual dividend ÷ price | — | +2.0% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | — | $1.54 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.2% | +2.2% |
Insufficient data to determine a leader in this category.
Key Takeaway
VEON leads in 2 of 6 categories (Valuation Metrics, Profitability & Efficiency). VIV leads in 2 (Total Returns, Risk & Volatility). 1 tied.
Best OverallVEON Ltd. (VEON)Leads 2 of 6 categories
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VEON vs VIV: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is VEON or VIV a better buy right now?
For growth investors, VEON Ltd.
(VEON) is the stronger pick with 8. 3% revenue growth year-over-year, versus 7. 2% for Telefônica Brasil S. A. (VIV). VEON Ltd. (VEON) offers the better valuation at 8. 6x trailing P/E (6. 5x 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 — VEON or VIV?
On trailing P/E, VEON Ltd.
(VEON) is the cheapest at 8. 6x versus Telefônica Brasil S. A. at 23. 3x. On forward P/E, Telefônica Brasil S. A. is actually cheaper at 2. 9x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — VEON or VIV?
Over the past 5 years, Telefônica Brasil S.
A. (VIV) delivered a total return of +116. 9%, compared to +5. 7% for VEON Ltd. (VEON). Over 10 years, the gap is even starker: VIV returned +81. 3% versus VEON's -11. 2%. 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 — VEON or VIV?
By beta (market sensitivity over 5 years), Telefônica Brasil S.
A. (VIV) is the lower-risk stock at 0. 53β versus VEON Ltd. 's 1. 47β — meaning VEON is approximately 176% more volatile than VIV relative to the S&P 500. On balance sheet safety, Telefônica Brasil S. A. (VIV) carries a lower debt/equity ratio of 30% versus 4% for VEON Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — VEON or VIV?
By revenue growth (latest reported year), VEON Ltd.
(VEON) is pulling ahead at 8. 3% versus 7. 2% for Telefônica Brasil S. A. (VIV). On earnings-per-share growth, the picture is similar: VEON Ltd. grew EPS 115. 9% year-over-year, compared to 11. 6% for Telefônica Brasil S. A.. Over a 3-year CAGR, VIV leads at 8. 2% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — VEON or VIV?
VEON Ltd.
(VEON) is the more profitable company, earning 10. 4% net margin versus 9. 9% for Telefônica Brasil S. A. — meaning it keeps 10. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: VEON leads at 27. 7% versus 15. 5% for VIV. 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.
07Is VEON or VIV more undervalued right now?
On forward earnings alone, Telefônica Brasil S.
A. (VIV) trades at 2. 9x forward P/E versus 6. 5x for VEON Ltd. — 3. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for VEON: 50. 6% to $74. 00.
08Which pays a better dividend — VEON or VIV?
In this comparison, VIV (2.
0% yield) pays a dividend. VEON does not pay a meaningful dividend and should not be held primarily for income.
09Is VEON or VIV better for a retirement portfolio?
For long-horizon retirement investors, Telefônica Brasil S.
A. (VIV) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 53), 2. 0% yield). Both have compounded well over 10 years (VIV: +81. 3%, VEON: -11. 2%), 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.
10What are the main differences between VEON and VIV?
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.
In terms of investment character: VEON is a small-cap deep-value stock; VIV is a mid-cap quality compounder stock. VIV 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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Revenue Growth>
%
(VEON: 7.5% · VIV: 8.7%)Net Margin>
%
(VEON: 15.2% · VIV: 10.4%)P/E Ratio<
x
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