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VEON Ltd.NasdaqCM:VEON Stock Report

Market Cap US$3.7b
Share Price
US$53.19
My Fair Value
US$70
24.0% undervalued intrinsic discount
1Y73.3%
7D8.9%
Portfolio Value
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VEON Ltd.

NasdaqCM:VEON Stock Report

Market Cap: US$3.7b

VEON (VEON) Stock Overview

A digital operator, provides telecommunications and digital services to corporate and individual customers in Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh. More details

VEON fundamental analysis
Snowflake Score
Valuation6/6
Future Growth1/6
Past Performance4/6
Financial Health2/6
Dividends0/6

Rewards

Trading at 87.9% below our estimate of its fair value

Earnings grew by 223.7% over the past year

Trading at good value compared to peers and industry

Analysts in good agreement that stock price will rise by 30.9%

Risk Analysis

Interest payments are not well covered by earnings

High level of non-cash earnings

Earnings are forecast to decline by an average of 4.7% per year for the next 3 years


VEON Community Fair Values

Create Narrative

See what 17 others think this stock is worth. Follow their fair value or set your own to get alerts.

VEON logo
VEON

Digital Services In Emerging Markets Will Spark Mixed Prospects

Key Takeaways Expansion in digital services and focus on young, urban markets are driving subscriber growth, high-margin revenues, and improved earnings quality. Asset-light restructuring and digital asset monetization efforts are freeing capital, boosting operational efficiency, and unlocking shareholder value.
View narrative
US$69.64
FV
23.6% undervalued intrinsic discount
7.00%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
9users have followed this narrative
VEON logo
VEON

VEON Unlocks Value with Kyivstar Spin-Off

The upcoming Kyivstar listing is far more than a financial transaction. By carving out Ukraine’s leading mobile and digital player and floating it on Nasdaq through a reputable partner like Cohen Circle Acquisition Corp.
View narrative
US$70
FV
24.0% undervalued intrinsic discount
14.76%
Revenue growth p.a.
3users have liked this narrative
2users have commented on this narrative
3users have followed this narrative
VEON logo
VEON

Ukraine And Digital Challenges Will Undermine Stability Yet Spark Recovery

Key Takeaways Exposure to unstable markets and rising competition from digital-first entrants threaten revenue consistency, margins, and VEON's ability to secure future share in fintech and digital services. Currency volatility, inflation, and asset-light local structures increase operational risk, potentially weakening earnings, limiting investment flexibility, and compressing long-term profitability.
View narrative
US$60
FV
11.4% undervalued intrinsic discount
4.83%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
VEON logo
VEON

Advanced Mobile Technologies Will Drive Digital Expansion In Emerging Markets

Key Takeaways VEON's ecosystem and digital service focus enable high-margin growth and greater user engagement, setting it apart from traditional telecom competitors in emerging markets. Strategic financial moves, including asset monetization and segment IPOs, offer headroom for reinvestment and could drive a rerating of the company's value.
View narrative
US$69
FV
22.9% undervalued intrinsic discount
7.78%
Revenue growth p.a.
0users have liked this narrative
0users have commented on this narrative
0users have followed this narrative
View Stock Community

VEON Ltd. Competitors

Price History & Performance

Summary of share price highs, lows and changes for VEON
Historical stock prices
Current Share PriceUS$53.19
52 Week HighUS$64.00
52 Week LowUS$29.80
Beta1.58
1 Month Change-3.43%
3 Month Change1.51%
1 Year Change73.31%
3 Year Change590.78%
5 Year Change67.53%
Change since IPO-88.48%

Recent News & Updates

VEON Ltd. Builds Digital Momentum: Limited Risk, Compelling Reward

Sep 16

Recent updates

VEON Ltd. Builds Digital Momentum: Limited Risk, Compelling Reward

Sep 16

Here's Why VEON (NASDAQ:VEON) Has A Meaningful Debt Burden

Apr 27
Here's Why VEON (NASDAQ:VEON) Has A Meaningful Debt Burden
User avatar

Relocation To Dubai And Exclusive NASDAQ Listing Will Expand Exposure But May Introduce Liquidity Risks

Expansion in Central and South Asia and increased digital services offerings are driving robust revenue growth and customer retention.

VEON: Strong Buy For Ukrainian Rebuilding And Pakistani Economic Convergence

Jan 28

It's A Story Of Risk Vs Reward With VEON Ltd. (NASDAQ:VEON)

May 03
It's A Story Of Risk Vs Reward With VEON Ltd. (NASDAQ:VEON)

Here's Why VEON (NASDAQ:VEON) Has A Meaningful Debt Burden

Apr 15
Here's Why VEON (NASDAQ:VEON) Has A Meaningful Debt Burden

Veon notes third quarter boosting its 2022 revenue pace

Sep 16

VEON: Waiting For The Explosive Catalyst Of Peace

Aug 16

VEON's Banglalink signs tower sharing deal in Bangladesh

Aug 03

Veon management boosts ownership via share awards

Jul 11

VEON reports revenue growth 1.3% Y/Y for 5M22

Jun 29

VEON: Value So Deep Otto Lidenbrock Wouldn't Find It

Mar 15

These 4 Measures Indicate That VEON (NASDAQ:VEON) Is Using Debt Extensively

Mar 01
These 4 Measures Indicate That VEON (NASDAQ:VEON) Is Using Debt Extensively

VEON: A Reason For Optimism

Feb 09

Is VEON Ltd. (NASDAQ:VEON) Potentially Undervalued?

Dec 28
Is VEON Ltd. (NASDAQ:VEON) Potentially Undervalued?

Here's Why VEON (NASDAQ:VEON) Has A Meaningful Debt Burden

Nov 15
Here's Why VEON (NASDAQ:VEON) Has A Meaningful Debt Burden

Upbeat VEON Q3 Earnings With Catalysts Kicking In

Oct 30

Shareholder Returns

VEONUS Wireless TelecomUS Market
7D8.9%0.5%1.2%
1Y73.3%6.9%16.3%

Return vs Industry: VEON exceeded the US Wireless Telecom industry which returned 6.9% over the past year.

Return vs Market: VEON exceeded the US Market which returned 16.3% over the past year.

Price Volatility

Is VEON's price volatile compared to industry and market?
VEON volatility
VEON Average Weekly Movement7.9%
Wireless Telecom Industry Average Movement8.8%
Market Average Movement6.5%
10% most volatile stocks in US Market17.5%
10% least volatile stocks in US Market3.0%

Stable Share Price: VEON has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: VEON's weekly volatility (8%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199218,027Muhterem Terziogluwww.veon.com

VEON Ltd., a digital operator, provides telecommunications and digital services to corporate and individual customers in Pakistan, Ukraine, Kazakhstan, Uzbekistan, and Bangladesh. The company offers fixed-line telecommunication services using fiber optic networks; mobile telecommunications services under prepaid and postpaid subscriptions, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; cross-border transit, voice, and data services; mobile connectivity services on 2G, 3G and 4G/LTE networks; prepaid scratch cards and electronic recharge options; customer support through contact centers; and Internet-TV using fiber to the building technology. It also provides internet and data access, roaming, and messaging solutions; Simosa, MyKyivstar, and MyBeeline self-care applications; Kyivstar TV, Tamasha, BeeTV, Toffee, and Beeline TV video streaming platforms; BiP messenger app; Game Now gaming platform; Beeline Music for music streaming, as well as live audio streaming services; Jazz Cricket sports app; JazzCash and Simply financial services platforms that offers wallets, payments, transfers, and digital lending services; and Helsi, a digital healthcare platform.

VEON Ltd. Fundamentals Summary

How do VEON's earnings and revenue compare to its market cap?
VEON fundamental statistics
Market capUS$3.68b
Earnings (TTM)US$984.00m
Revenue (TTM)US$4.15b
3.7x
P/E Ratio
0.9x
P/S Ratio

Is VEON overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
VEON income statement (TTM)
RevenueUS$4.15b
Cost of RevenueUS$508.00m
Gross ProfitUS$3.64b
Other ExpensesUS$2.66b
EarningsUS$984.00m

Last Reported Earnings

Jun 30, 2025

Next Earnings Date

Nov 10, 2025

Earnings per share (EPS)14.23
Gross Margin87.75%
Net Profit Margin23.72%
Debt/Equity Ratio214.1%

How did VEON perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/21 18:52
End of Day Share Price 2025/10/20 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

VEON Ltd. is covered by 22 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
William Noel MilnerArete Research Services LLP
Jonathan DannBarclays
Matthew HarriganBenchmark Company