VEON Ltd. (VEON) 10-Year Financial Performance & Capital Metrics

VEON • • Utilities

Communication ServicesTelecom ServicesInternational & Regional CarriersInternational Telecom Giants

AboutVEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.Show more

Revenue $4B +8.3%
EBITDA $1.62B +12.3%
Net Income $415M +116.4%
Free Cash Flow $523M +515.1%
EBITDA Margin 40.53% +3.7%
Net Margin 10.36% +115.2%
ROE 35.65% +113.0%
Interest Coverage 2.24 +28.2%
Debt/Equity 3.73 -22.4%
Net Debt/EBITDA 1.85 -17.8%
CapEx / Revenue 22.65% -62.6%
CapEx Coverage 1.27 +34.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗High debt to equity ratio of 3.7x

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-11.44%

5Y-13.04%

3Y1.32%

TTM6.74%

Profit (Net Income) CAGR

10Y-

5Y-7.77%

3Y-14.93%

TTM119.91%

EPS CAGR

10Y-

5Y-8.41%

3Y-15.72%

TTM119.87%

ROCE

10Y Avg10.49%

5Y Avg12.99%

3Y Avg15.82%

Latest24.55%

Peer Comparison

International Telecom Giants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCEBCE Inc.	22.12B	23.72	131.78	-1.07%	25.87%	27.83%	11.57%	2.21
RCIRogers Communications Inc.	15.3B	35.66	11.14	6.71%	32.11%	28.56%	9.86%	4.58
VEONVEON Ltd.	3.69B	53.42	9.32	8.27%	15.24%	39.1%	14.19%	3.73
AMXAmérica Móvil, S.A.B. de C.V.	61.64B	20.46	2.76	6.52%	7.78%	16.15%	100%	1.81
SIFYSify Technologies Limited	936.21M	12.94	-1.03	11.93%	-2.72%	-5.57%		1.96
VODVodafone Group Public Limited Company	30.91B	13.18	-8.24	1.99%	-4.08%	-5.2%	28.06%	0.99

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	9.61B	8.88B	9.47B	9.09B	8.05B	3.48B	3.85B	3.75B	3.7B	4B
Revenue Growth %	-0.29%	-0.08%	0.07%	-0.04%	-0.11%	-0.57%	0.11%	-0.02%	-0.02%	0.08%
Cost of Revenue	2.17B	1.99B	2.14B	2.12B	1.84B	454M	484M	476M	441M	515M
Gross Profit+	7.44B	6.9B	7.33B	6.97B	6.21B	3.03B	3.37B	3.28B	3.26B	3.49B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.28%	-0.07%	0.06%	-0.05%	-0.11%	-0.51%	0.11%	-0.03%	-0.01%	0.07%
Operating Expenses+	6.91B	5.82B	5.87B	6.42B	4.34B	2.21B	2.34B	2.12B	2.33B	2.38B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	2.59B	3.02B	3.5B	2.21B	3.71B	1.61B	1.82B	1.83B	1.45B	1.62B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.43%	0.17%	0.16%	-0.37%	0.68%	-0.56%	0.13%	0.01%	-0.21%	0.12%
Depreciation & Amortization+	2.07B	1.94B	2.03B	1.66B	1.84B	792M	799M	671M	516M	513M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	524M	1.08B	1.47B	554M	1.86B	823M	1.02B	1.16B	929M	1.11B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.72%	1.07%	0.35%	-0.62%	2.37%	-0.56%	0.24%	0.14%	-0.2%	0.19%
Interest Expense+	829M	830M	935M	816M	876M	569M	591M	583M	531M	495M
Interest Coverage	0.63x	1.31x	1.57x	0.68x	2.13x	1.45x	1.73x	1.99x	1.75x	2.24x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	-595M	288M	328M	-248M	1.04B	373M	464M	802M	559M	704M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	220M	635M	472M	369M	462M	279M	344M	69M	179M	217M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-655M	2.33B	-505M	582M	622.01M	-349M	674M	-162M	-2.53B	415M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.01%	4.55%	-1.22%	2.15%	0.07%	-1.56%	2.93%	-1.24%	-14.6%	1.16%
EPS (Diluted)+	-9.21	7.87	-7.24	-9.99	8.89	-4.99	9.57	-2.25	-36.00	5.73
EPS Growth %	0%	1.85%	-1.92%	-0.38%	1.89%	-1.56%	2.92%	-1.24%	-15%	1.16%
EPS (Basic)	-9.21	7.87	-7.24	-9.99	8.89	-4.99	9.61	-2.25	-35.93	5.86
Diluted Shares Outstanding	69.96M	69.96M	69.96M	69.96M	69.96M	69.96M	70.44M	70.44M	71.28M	72.44M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	33.84B	21.28B	19.52B	14.1B	16.06B	14.55B	15.92B	15.08B	8.22B	8.04B
Asset Growth %	-0.17%	-0.37%	-0.08%	-0.28%	0.14%	-0.09%	0.09%	-0.05%	-0.46%	-0.02%
PP&E (Net)+	6.24B	6.72B	6.1B	4.93B	7.34B	6.88B	6.72B	2.85B	2.9B	3.02B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	20.52B	4.55B	3.94B	3.11B	2.5B	2.85B	5.42B	3.98B	3.16B	2.9B
Cash & Equivalents	3.61B	2.94B	1.3B	1.81B	1.25B	1.67B	2.25B	3.11B	1.9B	1.69B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	104M	125M	72M	141M	169M	111M	111M	73M	23M	15M
Other Current Assets	15.33B	32M	238M	196M	151M	133M	2.02B	54M	60M	218M
Long-Term Investments	365M	2.57B	1.96B	58M	235M	305M	99M	71M	53M	65M
Goodwill	4.22B	4.7B	4.39B	3.82B	3.96B	2.68B	1.54B	394M	349M	338M
Intangible Assets	2.22B	2.26B	2.17B	1.85B	1.73B	1.47B	1.7B	1.57B	1.27B	1.17B
Other Assets	133M	143M	227M	135M	163M	179M	216M	5.95B	178M	177M
Total Liabilities	29.98B	15.15B	15.59B	11.32B	13.84B	13.54B	14.42B	14.32B	7.15B	6.78B
Total Debt+	9.79B	11.12B	11.63B	7.86B	10.34B	10.06B	10.65B	8.18B	5.16B	4.69B
Net Debt	6.17B	8.17B	10.32B	4.76B	9.09B	8.42B	8.39B	5.07B	3.25B	3B
Long-Term Debt	8.09B	8.07B	10.36B	6.56B	7.76B	8.83B	9.4B	5.34B	3.46B	3.03B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	2.08B	1.91B	2.67B	806M	985M	1.03B
Total Current Liabilities+	5.54B	6.56B	4.64B	4.41B	5.77B	4.41B	4.38B	4.64B	3.58B	3.63B
Accounts Payable	1.77B	1.74B	1.54B	1.43B	1.85B	1.95B	2.03B	1.09B	1.2B	1.28B
Accrued Expenses	167.97M	135.99M	173M	197.93M	197M	168M	153M	82M	84M	80M
Deferred Revenue	145.98M	552.94M	374M	350.88M	225M	216M	212M	159M	144M	129M
Other Current Liabilities	1.74B	1.02B	1.23B	1.11B	811.99M	650M	517M	293M	310M	296M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	15.9B	177.98M	209M	156.95M	153M	152M	494M	4.29B	60M	90M
Total Equity+	3.89B	6.04B	3.93B	2.78B	2.22B	1.01B	1.5B	767M	1.07B	1.26B
Equity Growth %	-0.02%	0.55%	-0.35%	-0.29%	-0.2%	-0.54%	0.49%	-0.49%	0.4%	0.17%
Shareholders Equity	3.77B	5.96B	4.35B	3.67B	1.23B	163M	586M	569M	858M	1.1B
Minority Interest	129M	82M	-425M	-891M	994M	850M	919M	198M	213M	158M
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M
Additional Paid-in Capital	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B
Retained Earnings	-2.71B	-439M	-1.49B	-1.41B	-1.33B	-1.92B	-1.25B	-1.41B	-3.94B	-3.53B
Accumulated OCI	-6.28B	-6.36B	-6.94B	-7.67B	-10.2B	-10.67B	-10.92B	-10.78B	-7.96B	-8.13B
Return on Assets (ROA)	-0.02%	0.08%	-0.02%	0.03%	0.04%	-0.02%	0.04%	-0.01%	-0.22%	0.05%
Return on Equity (ROE)	-0.17%	0.47%	-0.1%	0.17%	0.25%	-0.22%	0.54%	-0.14%	-2.75%	0.36%
Debt / Equity	2.51x	1.84x	2.96x	2.83x	4.66x	9.93x	7.07x	10.66x	4.81x	3.73x
Debt / Assets	0.29%	0.52%	0.6%	0.56%	0.64%	0.69%	0.67%	0.54%	0.63%	0.58%
Net Debt / EBITDA	2.38x	2.71x	2.95x	2.15x	2.45x	5.21x	4.61x	2.77x	2.25x	1.85x
Book Value per Share	55.66	86.38	56.13	39.72	31.73	14.48	21.37	10.89	15.03	17.35

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.03B	1.9B	2.48B	2.52B	2.95B	2.44B	2.64B	2.56B	2.11B	1.15B
Operating CF Growth %	-0.62%	-0.06%	0.3%	0.02%	0.17%	-0.17%	0.08%	-0.03%	-0.17%	-0.46%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-913.44M	-385.69M	-115.38M	-398.05M	1.04B	373M	75M	656M	307M	415M
Depreciation & Amortization	2.06B	1.97B	2.03B	1.84B	1.95B	792M	799M	778M	735M	728M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.04B	576.51M	485.58M	758.01M	53M	1.28B	1.86B	1.19B	821M	-106M
Working Capital Changes	-156.39M	-252.73M	78.26M	322.85M	-102M	2M	-96M	-66M	248M	113M
Capital Expenditures+	-2.2B	-2.72B	-3.29B	-1.95B	-1.58B	-1.87B	-1.46B	-1.66B	-2.24B	-627M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-329.72M	-2.72B	-3.29B	2B	-1.87B	-1.87B	-1.46B	-1.66B	-2.24B	-778M
Acquisitions	2.3B	-312.61M	-239.78M	19.05M	0	-10M	-279M	24M	0	136M
Purchase of Investments	0	-88.3M	-101.33M	0	0	0	-48M	-14M	-147M	0
Sale of Investments	1000K	0	0	1000K	0	0	0	0	0	1000K
Other Investing	-500.05M	-639.44M	-900.94M	1.04B	-291M	-1.31B	-274M	-656M	-1.32B	-99M
Cash from Financing+	-3.73B	-122.81M	-475.55M	-3.93B	-1.64B	-103M	-465M	116M	-1.15B	-551M
Dividends Paid	-60.76M	-61.91M	-519.7M	-509.35M	-520M	-259M	0	0	0	0
Dividend Payout Ratio %	-	0.03%	-	0.88%	0.84%	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K
Stock Issued	1.99M	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	-8M
Other Financing	-891.53M	-127.89M	-447.46M	-93.25M	-838M	-317M	-569M	-352M	-241M	-15M
Net Change in Cash+	-2.73B	-671.76M	-1.63B	493.36M	-572M	423M	583M	855M	-1.21B	-213M
Exchange Rate Effect	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	6.34B	3.61B	2.94B	1.31B	1.81B	1.24B	1.67B	2.25B	3.11B	1.9B
Cash at End	3.61B	2.94B	1.31B	1.81B	1.24B	1.66B	2.25B	3.11B	1.9B	1.69B
Free Cash Flow+	-173.32M	-813M	-802.62M	568.5M	1.37B	577M	1.18B	901M	-126M	523M
FCF Growth %	-1.22%	-3.69%	0.01%	1.71%	1.4%	-0.58%	1.04%	-0.24%	-1.14%	5.15%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-16.65%	46.86%	-10.13%	17.36%	24.89%	-21.59%	53.53%	-14.26%	-275.08%	35.65%
EBITDA Margin	26.97%	33.99%	36.89%	24.31%	46.08%	46.38%	47.32%	48.84%	39.08%	40.53%
Net Debt / EBITDA	2.38x	2.71x	2.95x	2.15x	2.45x	5.21x	4.61x	2.77x	2.25x	1.85x
Interest Coverage	0.63x	1.31x	1.57x	0.68x	2.13x	1.45x	1.73x	1.99x	1.75x	2.24x
CapEx / Revenue	22.89%	30.57%	34.68%	21.5%	19.65%	53.59%	37.9%	44.1%	60.49%	22.65%
Dividend Payout Ratio	-	2.66%	-	87.52%	83.6%	-	-	-	-	-
Debt / Equity	2.51x	1.84x	2.96x	2.83x	4.66x	9.93x	7.07x	10.66x	4.81x	3.73x
EPS Growth	0.43%	185.45%	-191.99%	-37.98%	188.99%	-156.13%	291.78%	-123.51%	-1500%	115.92%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Mobile	-	-	-	-	3.36B	3.62B
Mobile Growth	-	-	-	-	-	7.76%
Fixed	-	-	-	-	214M	223M
Fixed Growth	-	-	-	-	-	4.21%
Service1	8.24B	7.47B	7.15B	3.6B	-	-
Service1 Growth	-	-9.33%	-4.34%	-49.63%	-	-
Other Revenue	158M	117M	133M	127M	-	-
Other Revenue Growth	-	-25.95%	13.68%	-4.51%	-	-
Equipment And Accessories	465M	392M	508M	28M	-	-
Equipment And Accessories Growth	-	-15.70%	29.59%	-94.49%	-	-

Frequently Asked Questions

Valuation & Price

VEON Ltd. (VEON) has a price-to-earnings (P/E) ratio of 9.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

VEON Ltd. (VEON) reported $4.23B in revenue for fiscal year 2024. This represents a 79% decrease from $20.25B in 2011.

VEON Ltd. (VEON) grew revenue by 8.3% over the past year. This is steady growth.

Yes, VEON Ltd. (VEON) is profitable, generating $644.0M in net income for fiscal year 2024 (10.4% net margin).

Dividend & Returns

VEON Ltd. (VEON) has a return on equity (ROE) of 35.7%. This is excellent, indicating efficient use of shareholder capital.

VEON Ltd. (VEON) generated $593.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

VEON Ltd. (VEON) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

US Stock Screener

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VEON Ltd. (VEON) 10-Year Financial Performance & Capital Metrics

VEON • • Utilities

Communication ServicesTelecom ServicesInternational & Regional CarriersInternational Telecom Giants

Revenue $4B +8.3%
EBITDA $1.62B +12.3%
Net Income $415M +116.4%
Free Cash Flow $523M +515.1%
EBITDA Margin 40.53% +3.7%
Net Margin 10.36% +115.2%
ROE 35.65% +113.0%
Interest Coverage 2.24 +28.2%
Debt/Equity 3.73 -22.4%
Net Debt/EBITDA 1.85 -17.8%
CapEx / Revenue 22.65% -62.6%
CapEx Coverage 1.27 +34.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗High debt to equity ratio of 3.7x

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-11.44%

5Y-13.04%

3Y1.32%

TTM6.74%

Profit (Net Income) CAGR

10Y-

5Y-7.77%

3Y-14.93%

TTM119.91%

EPS CAGR

10Y-

5Y-8.41%

3Y-15.72%

TTM119.87%

ROCE

10Y Avg10.49%

5Y Avg12.99%

3Y Avg15.82%

Latest24.55%

Peer Comparison

International Telecom Giants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCEBCE Inc.	22.12B	23.72	131.78	-1.07%	25.87%	27.83%	11.57%	2.21
RCIRogers Communications Inc.	15.3B	35.66	11.14	6.71%	32.11%	28.56%	9.86%	4.58
VEONVEON Ltd.	3.69B	53.42	9.32	8.27%	15.24%	39.1%	14.19%	3.73
AMXAmérica Móvil, S.A.B. de C.V.	61.64B	20.46	2.76	6.52%	7.78%	16.15%	100%	1.81
SIFYSify Technologies Limited	936.21M	12.94	-1.03	11.93%	-2.72%	-5.57%		1.96
VODVodafone Group Public Limited Company	30.91B	13.18	-8.24	1.99%	-4.08%	-5.2%	28.06%	0.99

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	9.61B	8.88B	9.47B	9.09B	8.05B	3.48B	3.85B	3.75B	3.7B	4B
Revenue Growth %	-0.29%	-0.08%	0.07%	-0.04%	-0.11%	-0.57%	0.11%	-0.02%	-0.02%	0.08%
Cost of Revenue	2.17B	1.99B	2.14B	2.12B	1.84B	454M	484M	476M	441M	515M
Gross Profit+	7.44B	6.9B	7.33B	6.97B	6.21B	3.03B	3.37B	3.28B	3.26B	3.49B
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.28%	-0.07%	0.06%	-0.05%	-0.11%	-0.51%	0.11%	-0.03%	-0.01%	0.07%
Operating Expenses+	6.91B	5.82B	5.87B	6.42B	4.34B	2.21B	2.34B	2.12B	2.33B	2.38B
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	2.59B	3.02B	3.5B	2.21B	3.71B	1.61B	1.82B	1.83B	1.45B	1.62B
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-0.43%	0.17%	0.16%	-0.37%	0.68%	-0.56%	0.13%	0.01%	-0.21%	0.12%
Depreciation & Amortization+	2.07B	1.94B	2.03B	1.66B	1.84B	792M	799M	671M	516M	513M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	524M	1.08B	1.47B	554M	1.86B	823M	1.02B	1.16B	929M	1.11B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.72%	1.07%	0.35%	-0.62%	2.37%	-0.56%	0.24%	0.14%	-0.2%	0.19%
Interest Expense+	829M	830M	935M	816M	876M	569M	591M	583M	531M	495M
Interest Coverage	0.63x	1.31x	1.57x	0.68x	2.13x	1.45x	1.73x	1.99x	1.75x	2.24x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Pretax Income+	-595M	288M	328M	-248M	1.04B	373M	464M	802M	559M	704M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	220M	635M	472M	369M	462M	279M	344M	69M	179M	217M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-655M	2.33B	-505M	582M	622.01M	-349M	674M	-162M	-2.53B	415M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.01%	4.55%	-1.22%	2.15%	0.07%	-1.56%	2.93%	-1.24%	-14.6%	1.16%
EPS (Diluted)+	-9.21	7.87	-7.24	-9.99	8.89	-4.99	9.57	-2.25	-36.00	5.73
EPS Growth %	0%	1.85%	-1.92%	-0.38%	1.89%	-1.56%	2.92%	-1.24%	-15%	1.16%
EPS (Basic)	-9.21	7.87	-7.24	-9.99	8.89	-4.99	9.61	-2.25	-35.93	5.86
Diluted Shares Outstanding	69.96M	69.96M	69.96M	69.96M	69.96M	69.96M	70.44M	70.44M	71.28M	72.44M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	33.84B	21.28B	19.52B	14.1B	16.06B	14.55B	15.92B	15.08B	8.22B	8.04B
Asset Growth %	-0.17%	-0.37%	-0.08%	-0.28%	0.14%	-0.09%	0.09%	-0.05%	-0.46%	-0.02%
PP&E (Net)+	6.24B	6.72B	6.1B	4.93B	7.34B	6.88B	6.72B	2.85B	2.9B	3.02B
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	20.52B	4.55B	3.94B	3.11B	2.5B	2.85B	5.42B	3.98B	3.16B	2.9B
Cash & Equivalents	3.61B	2.94B	1.3B	1.81B	1.25B	1.67B	2.25B	3.11B	1.9B	1.69B
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	104M	125M	72M	141M	169M	111M	111M	73M	23M	15M
Other Current Assets	15.33B	32M	238M	196M	151M	133M	2.02B	54M	60M	218M
Long-Term Investments	365M	2.57B	1.96B	58M	235M	305M	99M	71M	53M	65M
Goodwill	4.22B	4.7B	4.39B	3.82B	3.96B	2.68B	1.54B	394M	349M	338M
Intangible Assets	2.22B	2.26B	2.17B	1.85B	1.73B	1.47B	1.7B	1.57B	1.27B	1.17B
Other Assets	133M	143M	227M	135M	163M	179M	216M	5.95B	178M	177M
Total Liabilities	29.98B	15.15B	15.59B	11.32B	13.84B	13.54B	14.42B	14.32B	7.15B	6.78B
Total Debt+	9.79B	11.12B	11.63B	7.86B	10.34B	10.06B	10.65B	8.18B	5.16B	4.69B
Net Debt	6.17B	8.17B	10.32B	4.76B	9.09B	8.42B	8.39B	5.07B	3.25B	3B
Long-Term Debt	8.09B	8.07B	10.36B	6.56B	7.76B	8.83B	9.4B	5.34B	3.46B	3.03B
Short-Term Borrowings	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Capital Lease Obligations	0	0	0	0	2.08B	1.91B	2.67B	806M	985M	1.03B
Total Current Liabilities+	5.54B	6.56B	4.64B	4.41B	5.77B	4.41B	4.38B	4.64B	3.58B	3.63B
Accounts Payable	1.77B	1.74B	1.54B	1.43B	1.85B	1.95B	2.03B	1.09B	1.2B	1.28B
Accrued Expenses	167.97M	135.99M	173M	197.93M	197M	168M	153M	82M	84M	80M
Deferred Revenue	145.98M	552.94M	374M	350.88M	225M	216M	212M	159M	144M	129M
Other Current Liabilities	1.74B	1.02B	1.23B	1.11B	811.99M	650M	517M	293M	310M	296M
Deferred Taxes	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Liabilities	15.9B	177.98M	209M	156.95M	153M	152M	494M	4.29B	60M	90M
Total Equity+	3.89B	6.04B	3.93B	2.78B	2.22B	1.01B	1.5B	767M	1.07B	1.26B
Equity Growth %	-0.02%	0.55%	-0.35%	-0.29%	-0.2%	-0.54%	0.49%	-0.49%	0.4%	0.17%
Shareholders Equity	3.77B	5.96B	4.35B	3.67B	1.23B	163M	586M	569M	858M	1.1B
Minority Interest	129M	82M	-425M	-891M	994M	850M	919M	198M	213M	158M
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M
Additional Paid-in Capital	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B	12.75B
Retained Earnings	-2.71B	-439M	-1.49B	-1.41B	-1.33B	-1.92B	-1.25B	-1.41B	-3.94B	-3.53B
Accumulated OCI	-6.28B	-6.36B	-6.94B	-7.67B	-10.2B	-10.67B	-10.92B	-10.78B	-7.96B	-8.13B
Return on Assets (ROA)	-0.02%	0.08%	-0.02%	0.03%	0.04%	-0.02%	0.04%	-0.01%	-0.22%	0.05%
Return on Equity (ROE)	-0.17%	0.47%	-0.1%	0.17%	0.25%	-0.22%	0.54%	-0.14%	-2.75%	0.36%
Debt / Equity	2.51x	1.84x	2.96x	2.83x	4.66x	9.93x	7.07x	10.66x	4.81x	3.73x
Debt / Assets	0.29%	0.52%	0.6%	0.56%	0.64%	0.69%	0.67%	0.54%	0.63%	0.58%
Net Debt / EBITDA	2.38x	2.71x	2.95x	2.15x	2.45x	5.21x	4.61x	2.77x	2.25x	1.85x
Book Value per Share	55.66	86.38	56.13	39.72	31.73	14.48	21.37	10.89	15.03	17.35

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.03B	1.9B	2.48B	2.52B	2.95B	2.44B	2.64B	2.56B	2.11B	1.15B
Operating CF Growth %	-0.62%	-0.06%	0.3%	0.02%	0.17%	-0.17%	0.08%	-0.03%	-0.17%	-0.46%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-913.44M	-385.69M	-115.38M	-398.05M	1.04B	373M	75M	656M	307M	415M
Depreciation & Amortization	2.06B	1.97B	2.03B	1.84B	1.95B	792M	799M	778M	735M	728M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.04B	576.51M	485.58M	758.01M	53M	1.28B	1.86B	1.19B	821M	-106M
Working Capital Changes	-156.39M	-252.73M	78.26M	322.85M	-102M	2M	-96M	-66M	248M	113M
Capital Expenditures+	-2.2B	-2.72B	-3.29B	-1.95B	-1.58B	-1.87B	-1.46B	-1.66B	-2.24B	-627M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-329.72M	-2.72B	-3.29B	2B	-1.87B	-1.87B	-1.46B	-1.66B	-2.24B	-778M
Acquisitions	2.3B	-312.61M	-239.78M	19.05M	0	-10M	-279M	24M	0	136M
Purchase of Investments	0	-88.3M	-101.33M	0	0	0	-48M	-14M	-147M	0
Sale of Investments	1000K	0	0	1000K	0	0	0	0	0	1000K
Other Investing	-500.05M	-639.44M	-900.94M	1.04B	-291M	-1.31B	-274M	-656M	-1.32B	-99M
Cash from Financing+	-3.73B	-122.81M	-475.55M	-3.93B	-1.64B	-103M	-465M	116M	-1.15B	-551M
Dividends Paid	-60.76M	-61.91M	-519.7M	-509.35M	-520M	-259M	0	0	0	0
Dividend Payout Ratio %	-	0.03%	-	0.88%	0.84%	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K
Stock Issued	1.99M	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	-8M
Other Financing	-891.53M	-127.89M	-447.46M	-93.25M	-838M	-317M	-569M	-352M	-241M	-15M
Net Change in Cash+	-2.73B	-671.76M	-1.63B	493.36M	-572M	423M	583M	855M	-1.21B	-213M
Exchange Rate Effect	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	6.34B	3.61B	2.94B	1.31B	1.81B	1.24B	1.67B	2.25B	3.11B	1.9B
Cash at End	3.61B	2.94B	1.31B	1.81B	1.24B	1.66B	2.25B	3.11B	1.9B	1.69B
Free Cash Flow+	-173.32M	-813M	-802.62M	568.5M	1.37B	577M	1.18B	901M	-126M	523M
FCF Growth %	-1.22%	-3.69%	0.01%	1.71%	1.4%	-0.58%	1.04%	-0.24%	-1.14%	5.15%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-16.65%	46.86%	-10.13%	17.36%	24.89%	-21.59%	53.53%	-14.26%	-275.08%	35.65%
EBITDA Margin	26.97%	33.99%	36.89%	24.31%	46.08%	46.38%	47.32%	48.84%	39.08%	40.53%
Net Debt / EBITDA	2.38x	2.71x	2.95x	2.15x	2.45x	5.21x	4.61x	2.77x	2.25x	1.85x
Interest Coverage	0.63x	1.31x	1.57x	0.68x	2.13x	1.45x	1.73x	1.99x	1.75x	2.24x
CapEx / Revenue	22.89%	30.57%	34.68%	21.5%	19.65%	53.59%	37.9%	44.1%	60.49%	22.65%
Dividend Payout Ratio	-	2.66%	-	87.52%	83.6%	-	-	-	-	-
Debt / Equity	2.51x	1.84x	2.96x	2.83x	4.66x	9.93x	7.07x	10.66x	4.81x	3.73x
EPS Growth	0.43%	185.45%	-191.99%	-37.98%	188.99%	-156.13%	291.78%	-123.51%	-1500%	115.92%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Mobile	-	-	-	-	3.36B	3.62B
Mobile Growth	-	-	-	-	-	7.76%
Fixed	-	-	-	-	214M	223M
Fixed Growth	-	-	-	-	-	4.21%
Service1	8.24B	7.47B	7.15B	3.6B	-	-
Service1 Growth	-	-9.33%	-4.34%	-49.63%	-	-
Other Revenue	158M	117M	133M	127M	-	-
Other Revenue Growth	-	-25.95%	13.68%	-4.51%	-	-
Equipment And Accessories	465M	392M	508M	28M	-	-
Equipment And Accessories Growth	-	-15.70%	29.59%	-94.49%	-	-

Frequently Asked Questions

Valuation & Price

VEON Ltd. (VEON) has a price-to-earnings (P/E) ratio of 9.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

VEON Ltd. (VEON) reported $4.23B in revenue for fiscal year 2024. This represents a 79% decrease from $20.25B in 2011.

VEON Ltd. (VEON) grew revenue by 8.3% over the past year. This is steady growth.

Yes, VEON Ltd. (VEON) is profitable, generating $644.0M in net income for fiscal year 2024 (10.4% net margin).

Dividend & Returns

VEON Ltd. (VEON) has a return on equity (ROE) of 35.7%. This is excellent, indicating efficient use of shareholder capital.

VEON Ltd. (VEON) generated $593.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

VEON Ltd. (VEON) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.