VEON vs VIV vs TEF vs AMX

For growth investors, VEON Ltd.

(VEON) is the stronger pick with 8. 3% revenue growth year-over-year, versus 1. 6% for Telefónica, S. A. (TEF). VEON Ltd. (VEON) offers the better valuation at 8. 5x trailing P/E (6. 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.

On trailing P/E, VEON Ltd.

(VEON) is the cheapest at 8. 5x versus Telefônica Brasil S. A. at 22. 5x. On forward P/E, América Móvil, S. A. B. de C. V. is actually cheaper at 0. 8x — notably different from the trailing picture, reflecting expected earnings growth. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: América Móvil, S. A. B. de C. V. wins at 0. 04x versus Telefônica Brasil S. A. 's 1. 03x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.

Over the past 5 years, América Móvil, S.

A. B. de C. V. (AMX) delivered a total return of +245. 3%, compared to +7. 1% for VEON Ltd. (VEON). Over 10 years, the gap is even starker: AMX returned +313. 1% versus TEF's -16. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Telefónica, S.

A. (TEF) is the lower-risk stock at 0. 16β versus VEON Ltd. 's 1. 47β — meaning VEON is approximately 820% more volatile than TEF 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.

By revenue growth (latest reported year), VEON Ltd.

(VEON) is pulling ahead at 8. 3% versus 1. 6% for Telefónica, S. A. (TEF). On earnings-per-share growth, the picture is similar: América Móvil, S. A. B. de C. V. grew EPS 248. 6% 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.

VEON Ltd.

(VEON) is the more profitable company, earning 10. 4% net margin versus -0. 1% for Telefónica, 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 5. 8% for TEF. 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.

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, América Móvil, S. A. B. de C. V. (AMX) is the more undervalued stock at a PEG of 0. 04x versus Telefônica Brasil S. A. 's 1. 03x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, América Móvil, S. A. B. de C. V. (AMX) trades at 0. 8x forward P/E versus 12. 5x for Telefónica, S. A. — 11. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for VEON: 52. 7% to $74. 00.

In this comparison, TEF (8.

5% yield), AMX (2. 2% yield), VIV (2. 0% yield) pay a dividend. VEON does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, Telefónica, S.

A. (TEF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 16), 8. 5% yield). Both have compounded well over 10 years (TEF: -16. 7%, VEON: -11. 5%), 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.

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; TEF is a mid-cap income-oriented stock; AMX is a mid-cap deep-value stock. VIV, TEF, AMX pay 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.