VEON Ltd. (VEON) quarterly cash flow statement — complete operating, investing & financing history
VEON Ltd. (VEON) cash flow statement — 19-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 464M | 397.76M | 467.75M | 323M | 136M | 428M | 363M | 324M | 201M | 262M | 411M | 646M | 458M | 596M | 537M | 848M | 605M | 567M | 637M | 803M |
| Operating CF Growth % | 241.18% | -7.07% | 28.86% | -0.31% | -32.34% | 63.36% | -11.68% | -49.85% | -56.11% | -56.04% | -23.46% | -23.82% | -24.3% | 5.11% | -15.7% | 5.6% | 0.33% | -4.87% | 12.15% | 4.29% |
| Operating CF / Revenue % | 36.51% | 32.97% | 39.54% | 28.97% | 12.51% | 41.72% | 36.37% | 31.24% | 19.57% | 27.81% | 43.13% | 68.36% | 50% | 67.42% | 57.19% | 95.17% | 63.22% | 58.57% | 31.04% | 40.05% |
| Net Income | 200M | 99.44M | -31.32M | -131M | 595M | 102.3M | 80M | 209M | 68M | 57M | 73M | 119M | 250M | 19M | -411M | 135M | -36M | 968M | 270M | 114M |
| Depreciation & Amortization | 225M | 209.93M | 206.1M | 205M | 196M | 204.59M | 183M | 181M | 180M | 184M | 183M | 187M | 184M | 181M | 203M | 186M | 195M | 194M | 487M | 472M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -67M | 69.31M | 184.09M | 306.33M | -631M | 7.11M | -25M | -98M | 17M | 1M | -70M | 319M | 14M | 394M | 783M | 438M | 517M | -549M | -150M | 198M |
| Working Capital Changes | 106M | 19.08M | 108.88M | -57.33M | -24M | 114M | 125M | 32M | -64M | 20M | 225M | 21M | 10M | 2M | -38M | 89M | -71M | -46M | 30M | 19M |
| Capital Expenditures | -359M | -233.03M | -212.92M | -164.96M | -184M | -173M | -137M | -149M | -345M | -212M | -1.07B | -337M | -397M | -438M | -495M | -133M | -765M | -518M | -469M | -280M |
| CapEx / Revenue % | 28.25% | 21.98% | 36.57% | 6.19% | 16.93% | 20.37% | 22.65% | 21.6% | 33.59% | 22.51% | 112.7% | 35.66% | 43.34% | 49.55% | 52.72% | 14.93% | 79.94% | 53.51% | 22.86% | 13.97% |
| CapEx / D&A | 1.60x | 1.26x | 2.10x | 0.34x | 0.94x | 1.02x | 1.23x | 1.24x | 1.92x | 1.15x | 5.87x | 1.80x | 2.16x | 2.42x | 2.44x | 0.72x | 3.92x | 2.67x | 0.96x | 0.59x |
| CapEx Coverage (OCF/CapEx) | 1.29x | 1.50x | 1.08x | 4.68x | 0.74x | 2.05x | 1.61x | 1.45x | 0.58x | 1.24x | 0.38x | 1.92x | 1.15x | 1.36x | 1.08x | 6.38x | 0.79x | 1.09x | 1.36x | 2.87x |
| Cash from Investing | -359M | -155.69M | -314.69M | -162.36M | -108M | -210M | -27M | -205M | -345M | -201M | -1.07B | -337M | -397M | -438M | -495M | 122M | -765M | -518M | 306M | -361M |
| Acquisitions | -9M | 69.31M | 452.84M | -292.51M | -141M | 101M | 36M | -1M | 5M | 96M | 1M | 0 | 0 | 0 | -26M | 6M | 40M | 4M | 859M | -6M |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 89M | 42M | -66M | -65M | -134M | -5M | 0 | 0 | -4M | 4M | -14M | 0 | -41M | -8M |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 92M | 0 | 0 | 0 | 0 | 0 | 0 | 2M | -3M | 0 | 0 | 3M | 0 | 0 |
| Other Investing | -189M | 40.18M | -334.9M | 61.15M | 217M | -102M | -18M | -22M | -155M | -20M | -1.02B | -133M | -259M | -198M | -299M | 245M | -338M | -264M | -43M | -67M |
| Cash from Financing | 333M | -228.01M | -94M | 223.59M | -516M | -146M | 340M | 18M | 204M | -1.11B | 4M | -390M | -616M | -134M | -38M | -126M | 492M | -212M | -145M | -44M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Payout Ratio % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Debt Issuance (Net) | 1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | -1000K | -1000K | -1000K | 1000K | -1000K | 1000K | -1000K | -1000K | 1000K |
| Stock Issued | 0 | 0 | -172.77K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -34M | -28.12M | -106.8M | 70.04M | -44M | -24M | -8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -184.82M | -160.59M | 40.74M | -1M | 0 | 0 | -9M | -6M | 0 | -10M | -78M | -55M | -108M | -90M | -109M | -86M | -67M | -19M | -68M |
| Net Change in Cash | 442M | 19.29M | 68.86M | 380.61M | -491M | 84.09M | 670M | 157M | 30M | -1.07B | -347M | -208M | -583M | -66M | -186M | 954M | 362M | -274.62M | 754M | 306M |
| Exchange Rate Effect | 4M | 5.23M | 9.81M | -2.03M | -3M | 12.09M | -6M | 20M | -30M | -18M | 312M | -127M | -28M | -90M | -190M | 110M | 30M | -111.62M | -44M | -92M |
| Cash at Beginning | 1.75B | 1.73B | 1.66B | 1.28B | 1.77B | 1.69B | 1.02B | 862M | 832M | 1.9B | 2.25B | 2.46B | 3.04B | 3.11B | 3.29B | 2.34B | 1.98B | 2.25B | 1.5B | 1.19B |
| Cash at End | 2.19B | 1.75B | 1.73B | 1.66B | 1.28B | 1.77B | 1.69B | 1.02B | 862M | 832M | 1.9B | 2.25B | 2.46B | 3.04B | 3.11B | 3.29B | 2.34B | 1.98B | 2.25B | 1.5B |
| Free Cash Flow | 105M | 164.73M | 254.83M | 157.46M | -48M | 255M | 226M | 175M | -144M | 50M | -663M | 309M | 61M | 158M | 42M | 715M | -160M | 49M | 168M | 523M |
| FCF Growth % | 318.75% | -35.4% | 12.75% | -10.02% | 66.67% | 410% | 134.09% | -43.37% | -336.07% | -68.35% | -1678.57% | -56.78% | 138.13% | 222.45% | -75% | 36.71% | -182.05% | 113.04% | 118.18% | 15.2% |
| FCF Margin % | 8.26% | 13.66% | 21.54% | 14.12% | -4.42% | 24.85% | 22.65% | 16.88% | -14.02% | 5.31% | -69.57% | 32.7% | 6.66% | 17.87% | 4.47% | 80.25% | -16.72% | 5.06% | 8.19% | 26.08% |
| FCF / Net Income % | 86.07% | 165.66% | -813.64% | -120.2% | -8.07% | 257.58% | 279.01% | 83.73% | -211.76% | 87.72% | 18.58% | 68.97% | 24.4% | 46.06% | 7.57% | -139.65% | -117.65% | -34.75% | 56.19% | 360.69% |