VEON Ltd. (VEON) P/E Ratio History
Fairly ValuedTrading at 6.9x, near 5Y avg of 7.6x · 55th percentile · In line with own history · Data 2010–2026
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P/E Ratio Analysis
As of June 30, 2026, VEON Ltd. (VEON) trades at a price-to-earnings ratio of 6.9x, with a stock price of $51.96 and trailing twelve-month earnings per share of $7.45.
The current P/E is roughly in line with its 5-year average of 7.6x. Over the past five years, VEON's P/E has ranged from a low of 1.1x to a high of 40.0x, placing the current valuation at the 55th percentile of its historical range.
Compared to the Communication Services sector median P/E of 14.4x, VEON trades at a 52% discount to its sector peers. The sector includes 105 companies with P/E ratios ranging from 0.1x to 180.3x.
Relative to the broader market, VEON trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our VEON DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
VEON Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
VEON P/E vs Peers
Mobile Network Operators peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $5B | 12.4 | 0.36Best | -17% | |
| $21B | 18.2 | 3.05 | +12% | |
| $152B | 7.2Lowest | - | +104%Best | |
| $184B | 10.9 | - | -2% | |
| $188B | 17.9 | 0.60 | +1% | |
| $37B | 13.6 | 1.20 | - | |
| $75B | 103.8 | - | -52% | |
| $464B | 46.2 | - | +0% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
VEON Historical P/E Data (2010–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $46.30 | $7.39 | 6.3x | -38% |
| FY2025 Q4 | Dec 31 2025 | $52.57 | $7.41 | 7.1x | -30% |
| FY2025 Q3 | - | $54.43 | $9.15 | 5.9x | -41% |
| FY2025 Q2 | Jun 30 2025 | $46.07 | $14.01 | 3.3x | -67% |
| FY2025 Q1 | Mar 30 2025 | $44.99 | $6.47 | 7.0x | -31% |
| FY2024 Q4 | - | $40.10 | $5.87 | 6.8x | -32% |
| FY2023 Q3 | Sep 30 2023 | $19.50 | $17.68 | 1.1x | -89% |
| FY2023 Q2 | Jun 30 2023 | $20.44 | $3.99 | 5.1x | -49% |
| FY2023 Q1 | Mar 31 2023 | $17.72 | $2.37 | 7.5x | -26% |
| FY2022 Q2 | - | $11.50 | $6.42 | 1.8x | -82% |
| FY2022 Q1 | - | $17.00 | $5.91 | 2.9x | -71% |
| FY2021 Q4 | Dec 31 2021 | $42.75 | $9.68 | 4.4x | -56% |
| FY2021 Q3 | - | $52.00 | $5.53 | 9.4x | -7% |
| FY2020 Q2 | - | $45.00 | $4.59 | 9.8x | -3% |
| FY2020 Q1 | - | $37.75 | $3.36 | 11.2x | +12% |
| FY2019 Q4 | - | $63.25 | $8.90 | 7.1x | -29% |
| FY2019 Q3 | Sep 30 2019 | $60.00 | $8.31 | 7.2x | -28% |
| FY2019 Q2 | Jun 30 2019 | $70.00 | $1.75 | 40.0x | +297% |
| FY2017 Q3 | Sep 30 2017 | $104.50 | $22.44 | 4.7x | -54% |
| FY2017 Q2 | Jun 30 2017 | $97.75 | $27.03 | 3.6x | -64% |
| FY2017 Q1 | Mar 31 2017 | $101.25 | $33.03 | 3.1x | -70% |
| FY2016 Q4 | Dec 31 2016 | $96.25 | $32.98 | 2.9x | -71% |
| FY2016 Q3 | Sep 30 2016 | $87.00 | $18.38 | 4.7x | -53% |
| FY2013 Q3 | Sep 30 2013 | $293.75 | $30.50 | 9.6x | -4% |
| FY2013 Q2 | Jun 30 2013 | $251.50 | $35.00 | 7.2x | -29% |
| FY2013 Q1 | Mar 31 2013 | $297.25 | $33.75 | 8.8x | -13% |
| FY2012 Q4 | Dec 31 2012 | $262.25 | $32.50 | 8.1x | -20% |
| FY2012 Q3 | Sep 30 2012 | $297.50 | $14.25 | 20.9x | +107% |
| FY2012 Q2 | Jun 30 2012 | $202.75 | $9.00 | 22.5x | +124% |
| FY2012 Q1 | Mar 31 2012 | $279.00 | $5.75 | 48.5x | +382% |
| FY2011 Q4 | Dec 31 2011 | $236.75 | $10.50 | 22.5x | +124% |
| FY2011 Q3 | Sep 30 2011 | $238.25 | $25.50 | 9.3x | -7% |
| FY2011 Q2 | - | $319.00 | $32.00 | 10.0x | -1% |
| FY2011 Q1 | - | $353.00 | $35.00 | 10.1x | +0% |
| FY2010 Q4 | Dec 31 2010 | $376.00 | $34.75 | 10.8x | +7% |
| FY2010 Q3 | - | $371.25 | $32.75 | 11.3x | +13% |
Average P/E for displayed period: 10.1x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
16+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
VEON — Frequently Asked Questions
Quick answers to the most common questions about buying VEON stock.
What is VEON's P/E ratio?
VEON Ltd. (VEON) trailing twelve-month P/E ratio is 6.9x, based on TTM diluted EPS of $7.45. The 5-year average P/E is 7.6x and the historical range spans 1.1x to 40.0x.
Is VEON stock overvalued or undervalued?
VEON trades at 6.9x P/E, near its 5-year average of 7.6x. The 55th percentile ranking within the 1.1x–40.0x historical range places valuation within normal bounds.
Is VEON stock expensive?
VEON is fairly valued relative to its own history. The current P/E of 6.9x is near the 5-year average of 7.6x (55th percentile of historical range).
What is VEON's historical P/E range?
Over the past 5 years, VEON's P/E ratio has ranged from 1.1x to 40.0x, with a median of 6.8x and an average of 7.6x. The current P/E of 6.9x places the stock at the 55th percentile of this range. Full historical data spans 2010–2026.
How does VEON's P/E compare to the S&P 500?
VEON trades at 6.9x P/E versus the S&P 500 median of 25.1x. The 73% discount to the market suggests lower growth expectations or perceived higher risk.
How does VEON's valuation compare to Communication Services peers?
VEON Ltd. P/E of 6.9x compares to the Communication Services sector median of 14.4x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is VEON's PEG ratio?
VEON PEG ratio is N/A, based on a P/E of 6.9x and EPS growth of 30.9%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is VEON's earnings yield?
VEON earnings yield is 14.43%, the inverse of its 6.9x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.