VEON Ltd. (VEON) P/E Ratio History
Historical price-to-earnings valuation from 2010 to 2025
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VEON Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 7, 2026, VEON Ltd. (VEON) trades at a price-to-earnings ratio of 8.6x, with a stock price of $49.13 and trailing twelve-month earnings per share of $9.37.
The current P/E is 18% above its 5-year average of 7.2x. 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 80th percentile of its historical range.
Compared to the Communication Services sector median P/E of 15.5x, VEON trades at a 45% discount to its sector peers. The sector includes 109 companies with P/E ratios ranging from 0.1x to 187.4x.
Relative to the broader market, VEON trades at a notable discount to the S&P 500 median P/E of 25.2x. 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 P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $6B | 11.0 | 0.19Best | +88% | |
| $25B | 23.3 | 8.65 | +12% | |
| $178B | 8.4Lowest | - | +104%Best | |
| $200B | 11.7 | - | -2% | |
| $209B | 19.9 | 0.67 | +1% | |
| $37B | 13.8 | 1.22 | - | |
| $75B | 102.2 | - | -52% | |
| $363B | 35.9 | - | +0% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
VEON Historical P/E Data (2010–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | $54.43 | $9.15 | 5.9x | -42% | |
| FY2025 Q2 | Mon Jun 30 2025 00:00:00 GM | $46.07 | $14.01 | 3.3x | -68% |
| FY2025 Q1 | Sun Mar 30 2025 00:00:00 GM | $44.99 | $6.47 | 7.0x | -32% |
| FY2024 Q4 | $40.10 | $5.87 | 6.8x | -34% | |
| FY2023 Q3 | Sat Sep 30 2023 00:00:00 GM | $19.50 | $17.68 | 1.1x | -89% |
| FY2023 Q2 | Fri Jun 30 2023 00:00:00 GM | $20.44 | $3.99 | 5.1x | -50% |
| FY2023 Q1 | Fri Mar 31 2023 00:00:00 GM | $17.72 | $2.37 | 7.5x | -27% |
| FY2022 Q2 | $11.50 | $6.42 | 1.8x | -83% | |
| FY2022 Q1 | $17.00 | $5.91 | 2.9x | -72% | |
| FY2021 Q4 | Fri Dec 31 2021 00:00:00 GM | $42.75 | $9.68 | 4.4x | -57% |
| FY2021 Q3 | $52.00 | $5.53 | 9.4x | -8% | |
| FY2020 Q2 | $45.00 | $4.59 | 9.8x | -5% |
Average P/E for displayed period: 10.3x
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Start ComparisonVEON — Frequently Asked Questions
Quick answers to the most common questions about buying VEON stock.
Is VEON stock overvalued or undervalued?
VEON trades at 8.6x P/E, near its 5-year average of 7.2x. The 80th percentile ranking places valuation within normal historical bounds.
How does VEON's valuation compare to peers?
VEON Ltd. P/E of 8.6x compares to sector median of 15.5x. The discount suggests lower growth expectations or higher risk.
What is VEON's PEG ratio?
VEON PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 2010-2025.