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VEONVEON Ltd.
$73.92$5.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
VEON logo

VEON Ltd.

VEON
NASDAQ · Telecom Services
$73.92
At close - Oct 1, 4:00 PM EDT - USD
Market Cap$5.12B
P/E9.9x
52W High$76.03
Volume94.7K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q1

Accelerating Revenue Growth Amidst Persistent Structural Volatility

VEON demonstrates a compelling top-line growth trajectory, with revenue expanding to $1.2 billion in 2026Q1, driven by its digital-first strategy in frontier markets. However, this growth is tempered by significant earnings volatility and a precarious balance ...

GrowthAccelerating
ProfitabilityModerate
ValuationAttractive
TechnicalsStrong
Explore valuation models
MARKET ACTION

VEON price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

7/12 Beats

EPS beat 7 of last 12 quarters

02

Valuation risk

-32% Peers

P/E is 32% below peer median

03

Market leadership

RS 91 · Leader

High momentum (Outperforming 91% of market)

04

Strong Uptrend

Strong Trend

Price > 20DMA > 50DMA > 200DMA

Next CatalystEstimated earnings · Oct 31

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
VEON+40.27%
S&P 500 (^GSPC)+11.83%
1-Year Return
VEON+40.00%
S&P 500 (^GSPC)+14.29%
3-Year Return
VEON+263.06%
S&P 500 (^GSPC)+78.76%
5-Year Return
VEON+40.80%
S&P 500 (^GSPC)+74.31%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
10.1x
Forward P/E
10.6x
EV/EBITDA80th %ile
4.7x
FCF YieldCash Flow
12.0%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
10.1x
7.0x
100th· High
EV/EBITDA
4.7x
3.6x
80th· High
Price/FCF
8.3x
5.6x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$115.56+56.3%
Base (Fair)$180.85+139.1%
Bull$269.73+264.9%
$115.56 Bear$180.85 Base$269.73 Bull
Current Market Price: $73.92
Trades at a 59.1% discount to Base DCF ($180.85)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$4.47B+11.8% YoY
Net income
$541M+30.4% YoY
Free cash flow
$631M+20.6% YoY
Operating margin
23.3%-4.4 pts YoY
ROIC (TTM)16.8%
Avg ROIC 5Y-
ROE (TTM)37.4%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate7/12 (78%)
Revenue Beat Rate9/12 (100%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 31, 2026
$1.69+6.3%
vs $1.59
$1.3B+3.4%
vs $1.2B
Q2 2026
May 13, 2026
$1.39+40.4%
vs $0.99
$1.2B+2.3%
vs $1.2B
Q2 2026
Mar 13, 2026
-$0.39-129.3%
vs $1.33
$1.2B+4.8%
vs $1.1B
Q4 2025
Nov 10, 2025
$1.14-5.8%
vs $1.21
$1.1B+1.4%
vs $1.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GlobeNewsWire·Sep 23, 2026
VEON increases Share Buyback and Accelerates share cancellations

VEON increases Share Buyback and Accelerates share cancellations  Group launches new program to repurchase 3.9% of outstanding shares (2.9 million ADSs), comprising open market repurchases and proportionate shareholder participation New York and Dubai, September 23, 2026 — VEON Ltd. (Nasdaq: VEON), a global digital operator, today announced a new program to buy back 3.9% of VEON's outstanding shares (72.5 million shares or equivalent in shares and ADS).

GlobeNewsWire·Sep 22, 2026
JazzCash Named Finalist for Digitising Government Welfare Disbursement and Insurtech at The Money Awards 2026

Islamabad – September 22, 2026: JazzCash, Pakistan's leading digital financial services provider and a subsidiary of VEON Ltd. (Nasdaq: VEON), has been named a finalist at The Money Awards 2026 in two categories: Strategic Alliance & Partnership, for its work digitising government welfare disbursement, and Banking (InsurTech), for bringing health insurance to Pakistan's informal workforce. Winners will be announced onsite at Money20/20 USA in Las Vegas on October 18, 2026.

Defense World·Sep 16, 2026
VEON Ltd. (NASDAQ:VEON) Receives $72.00 Average Target Price from Analysts

Shares of VEON Ltd. (NASDAQ: VEON - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price

GlobeNewsWire·Sep 15, 2026
VEON and Beeline Kazakhstan Sign Payments Cooperation Memorandum with National Bank of Kazakhstan

Five-year framework to explore connecting VEON's digital services with Kazakhstan's national payments infrastructure DUBAI / ALMATY, 15 September 2026 - VEON Ltd. (Nasdaq: VEON) (“VEON”), a global digital operator, today announced that VEON Digital Financial Group (“VEON DFG”) and Beeline Kazakhstan have signed a Memorandum of Cooperation with the National Bank of Kazakhstan to explore the development of digital payment services in the country.

Filtered for VEON Ltd.More Headlines
04

Compare before deciding

Benchmark VEON against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for VEON Ltd. (VEON)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
VEON logoVEONVEON Ltd.Current
$73.92$5.12B9.8611.75%12.09%37.44%—
TEF logoTEFTelefónica, S.A.
$4.33$24.41B-65.091.63%-5.53%-9.54%—
TKC logoTKCTurkcell Iletisim Hizmetleri A.S.
$5.02$4.37B10.99-96.34%7.63%7.29%—
VIV logoVIVTelefônica Brasil S.A.
$11.36$18.15B15.554.62%10.7%9.72%—
LILA logoLILALiberty Latin America Ltd.
$8.36$2.46B-2.73-0.33%-2.2%-9.29%—
T logoTAT&T Inc.
$24.31$166.58B8.002.71%16.89%16.82%—

Compare VEON vs Peers

VEON Ltd. (VEON) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs TEF

Most directly comparable listed peer for VEON.

Scale Benchmark

vs CSCO

Larger-name benchmark to compare VEON against a more recognizable public peer.

Peer Set

Compare Top 5

vs TEF, TKC, VIV, LILA

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VEON Frequently Asked Questions

VEON Ltd. (VEON) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is VEON Ltd.'s revenue?

VEON Ltd. (VEON) reported $4.78B in revenue for fiscal year 2025. This represents a 33% decrease from $7.17B in 2007.

How fast is VEON Ltd. growing?

VEON Ltd. (VEON) grew revenue by 11.8% over the past year. This is steady growth.

Is VEON profitable?

Yes, VEON Ltd. (VEON) is profitable, generating $59.1M in net income for fiscal year 2025 (12.1% net margin).

Dividend & Returns
What is VEON's return on equity?

VEON Ltd. (VEON) has a return on equity (ROE) of 37.4%. This is excellent, indicating efficient use of shareholder capital.

What is VEON Ltd.'s free cash flow?

VEON Ltd. (VEON) generated $682.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in VEON back in 2007?

Total return calculator · dividends reinvested · 19+ years of data

See returns →