VEON Ltd.
VEON · Price history
Price at last available close
$87.92
+$18.51 (+26.67%) 1M
2026-10-28
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Company & revenue
About VEON Ltd.
Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
VEON Ltd. provides telecommunications and digital services in Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. The company offers mobile telecommunications services under prepaid and postpaid subscriptions, including value-added and call completion services, national and international roaming services, wireless Internet access, mobile financial services, and mobile bundles; fixed-line telecommunications using fiber optic networks; cross-border transmission services; prepaid scratch cards and electronic recharge options; mobile services on 2G, 3G, and 4G/LTE networks; cloud solutions, including consumer storage apps; local, long-distance, and international voice services; and customer support through contact centers. It also provides FikrFree, a digital insurance marketplace; Tamasha, a video streaming app; ROX, a digital lifestyle brand; Garaj, a cloud platform; ApnaClinic and Helsi digital healthcare platforms; SIMOSA, ZARR, and RYZE lifestyle platforms; Kyivstar TV, a media streaming service; My Kyivstar, a self-service application; Uklon, a ride-hailing and delivery platform; Adwisor, an adtech platform; Simply, a mobile-only neobank; BeeTV, an entertainment platform; Hitter and riitm music streaming platforms; MyBL, Janymda, and Hambi super-apps; AI tutor, an AI-powered learning assistant; Toffee, an infotainment platform; BCloud, a digital infrastructure solution; Beepul, a financial services solution; KINOM, a digital entertainment platform; BeeMarket, an electronics and home appliance marketplace; Hambi Davo, a suite of digital health services; and OQ, a digital platform.
How they make money
VEON operates as a digital operator providing converged connectivity and digital services across emerging markets. It generates revenue primarily through mobile and fixed-line telecommunications subscriptions, data usage fees, and a portfolio of digital solutions including financial services, entertainment, and enterprise digital tools.
Products & services
Mobile and fixed-line telecommunications, broadband connectivity, digital financial services, entertainment, education, and healthcare digital solutions.
Brands & revenue mix
Major telecommunications operator in Ukraine.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
Customer concentration
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
- Telecommunications infrastructure and equipment providers — The company relies on various global vendors for network infrastructure, hardware, and software components; specific supplier names are not disclosed in the annual report.Source
Strengths
Financial risk observations and what to check
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS fell 79.4% versus the same quarter last year.
Review net income and weighted-average shares together. Per-share earnings can change because of operating performance, nonrecurring items or the share denominator.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
27
Poor
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
46
Weak
Financial Strength
48
Business Quality / Moat
50
Management
45
Growth Quality
49
Risk / Durability
25
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
29
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
35/100
Building Historical Record
Model Score 35/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently cautious.
- •Insider activity signal is favorable
- •Recent buyback activity is present
- •Debt service risk
- •Repurchase headline · Oct 20, 2026
- •Repurchase headline · Sep 23, 2026
- •Valuation is a weaker part of the current profile
- •Revenue fundamentals are weak
Company-specific research
Questions worth answering for VEON
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
- •Can VEON maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
- •Is VEON's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
- •Is VEON's debt load manageable relative to cash generation, interest costs and upcoming maturities?
- •What future growth or profitability would be needed to justify VEON's current valuation?
- •What does the current fundamental change risk warning mean for the reliability or interpretation of VEON's score?
Essential Investment Snapshot
Wall Street Score
27
Opportunity Score
29
Market Cap
$6.03B
P/E Ratio
122.0
EPS
$0.68
52-Week High
$85.27
52-Week Low
$42.60
Beta
1.61
Intrinsic Value
$13.96
Analyst Target
$98.50
Shares Outstanding
71.8M
Total Revenue
$4.78B
Total Debt
$5.85B
Dividend
No current dividend
Liquidation Value / Share
$26.77
Momentum & Volatility Signals
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
Strong upward momentum
Low movement
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for VEON
Detected from reported data — verify before acting.Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Debt service risk
Interest coverage is low (~1.9x). Earnings may be strained to cover interest expense.
Repurchase headline · Oct 20, 2026
VEON Advances Buyback Program, Cancels Shares — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
GlobeNewsWireRepurchase headline · Sep 23, 2026
VEON increases Share Buyback and Accelerates share cancellations — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
GlobeNewsWireCommunity Sentiment
0 active · 0 total callsNo personal call yet on VEON.
Potential upside factors
- +Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
- +Strong digital momentum and integration of AI-enabled tools across platforms.
- +Established presence in high-growth emerging markets.
- +Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
- −Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Telecommunications Services industry.
- −Geopolitical instability and regulatory risks in operating markets.
- −Currency volatility and macroeconomic fluctuations.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdownWas this stock page easy to understand?
One click helps us improve the research experience. This is not tied to an investment decision.
Score Changes
3 historical score records availablePrevious Score
28
Oct 1, 2026
Change
-0.4
points
Current Score
27
Oct 26, 2026
Category Changes
VEON decreased 0.4 points because Asset declined by 2.7 points.
Negative Contributors
- − Asset declined by 2.7 points
Projected Score
Projected Score
21
Projected Change
-6.6 points
Preliminary comparable-period financial changes suggest decline of approximately 6.6 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
OvervaluedCurrent Price
$87.61
Model Intrinsic Value
$13.96
Difference
+$73.64
+527.4% vs IV
Margin of Safety
-527.4%
Financial Charts
Revenue
Additional Metrics
Operating Cash Flow
Total Debt
Total Assets
Net Margin %
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
| Line Item | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.78B | $4.47B | $4.00B | $3.70B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Cost of Revenue | $1.03B | $1.35B | $515.0M | $441.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Gross Profit | $3.74B | $3.12B | $3.49B | $3.26B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Research & Development | $0.00 | $0.00 | $0.00 | $0.00 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| SG&A Expenses | $2.21B | $2.08B | $1.73B | $1.57B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Expenses | $2.73B | $2.08B | $2.38B | $2.33B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| EBITDA | $1.67B | $2.16B | $1.69B | $1.61B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Operating Income | $1.01B | $1.04B | $1.11B | $929.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Interest Expense | $593.6M | $544.2M | $495.0M | $531.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Before Tax | $357.4M | $798.5M | $704.0M | $559.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Income Tax Expense | $228.9M | $197.3M | $217.0M | $179.0M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Net Income | $59.1M | $541.1M | $415.0M | -$2.53B | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic EPS | $0.68 | $7.50 | $5.86 | $-35.93 | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Basic Shares | 69.68M | 71.76M | 70.80M | 70.24M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
| Diluted Shares | 70.92M | 71.76M | 72.44M | 71.28M | ···· | ···· | ···· | ···· | ···· | ···· | ···· |
Earnings Summary
Revenue
$1.27B
Estimate unavailable.
Revenue Beat/Miss
Not available (no estimate stored)
EPS
$1.75
Estimate unavailable.
EPS Beat/Miss
Not available (no estimate stored)
Debt Change
+19.1%
Cash Change
+71.1%
Margin Change
-45.1 pp
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
- Cash position grew
What Weakened
- Margins contracted
- Debt increased
Potential Score Impact
Positive indicators included revenue growth, cash levels. Pressure indicators included EPS growth, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 16.9%. EPS declined 79.4%. Cash increased 71.1%. Total debt increased 19.1%. Net income margin declined by 45.1 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
Insider Activity
Guru / Smart Money
Guru Score
Smart Money
Number of Gurus
Total Guru Value
Avg Portfolio Weight
Largest Holder
Largest Holder %
New Positions
Increased Positions
Reduced Positions
Exited Positions
Net Guru Sentiment
Short Interest
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Conservative Projected Values
3 Years
$———.——
5 Years
$———.——
10 Years
$———.——
Conservative Projection Rate
——%
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Start 7-Day Free TrialHistorical Outperformance Record
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.
Start 7-Day Free TrialHistorical Trends
3 historical recordsHistorical Score Chart
3 of 3 records shownWall Street Score
Debt Score
Revenue Score
Asset Score
Capital Score
Management Score
Moat Score
Valuation Score
Buffett Score
Intrinsic Value
Value Reference
Margin of Safety %
Related Companies
Telecommunications ServicesNews
SBI Securities Co. Ltd. Sells 6,247 Shares of VEON Ltd. $VEON
VEON Advances Buyback Program, Cancels Shares
JazzCash Wins Silver Award for Innovation in InsurTech at Money20/20 USA 2026
VEON Accelerates Telecom Market Consolidation in Uzbekistan, a Market of Nearly 40 Million People
Rumor Mill · VEON
Corporate developments & opportunities
No reviewed developments match this filter.
Evidence credibility is not a forecast of stock performance. Rumor Mill is separate from the WSS score.
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