profit from every $100 of sales.
$0$100
VEON
$76.42+1.21% today
+58.8% in 1 year
1-year low $44.311-year high $88.45
Trading in the middle of its range for the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
You pay $9.89 for every $1 of profit it makes in a year.
CheapExpensive
of earnings would pay off all its debt.
No debt5 years
Money in, money out
What VEON sold, what it kept, and what it did with the cash.
Sales went from $3.76 billion in 2022 to $4.40 billion in 2025, with $532 million of profit last year.
SalesProfit
VEON handed back 26% of the cash it generated last year.
Buybacks $105M
Free cash flow 2025$404M
Bought back its own shares$105M
Paid as dividends–
Cash vs. debt$1.7B vs. $5.1B
VEON vs. similar companies
VEON grows the fastest of these 5 and is priced in the middle for its profits.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| VEON | 9.9× · Cheap | ||
 China Mobile | 15.8× · Fair price | ||
 Verizon | 11.2× · Cheap | ||
 T-Mobile US | 16.6× · Fair price | ||
 AT&T | 6.8× · Cheap |
AI analysis
An AI analyst reads VEON's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 3,755 | 3,698 | 4,004 | 4,399 | |
| 3,279 | 3,257 | 3,489 | 3,873 | |
| 997 | 891 | 983 | 1,072 | |
| 2,163 | 1,825 | 1,930 | 2,131 | |
| -162 | -2,528 | 415 | 532 | |
| -2.25 | -35.93 | 5.73 | 7.50 | |
| 87.3% | 88.1% | 87.1% | 88.0% | |
| 26.6% | 24.1% | 24.6% | 24.4% | |
| -4.3% | -68.4% | 10.4% | 12.1% |
Balance sheet
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 15,083 | 8,218 | 8,036 | 9,215 |
| Cash | 3,107 | 1,902 | 1,689 | 1,732 |
| Total debt | 8,180 | 5,156 | 4,694 | 5,145 |
| Total liabilities | 14,316 | 7,147 | 6,779 | 7,581 |
| 569 | 858 | 1,099 | 1,340 | |
| 70 | 70 | 71 | 72 | |
| 12.5% | 14.3% | 16.4% | 16.1% | |
| -28.5% | -294.6% | 37.8% | 39.7% |
Cash flow
| In millions of USD | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 2,557 | 2,111 | 1,150 | 1,353 | |
| 1,010 | 766 | 907 | 949 | |
| 1,547 | 1,345 | 243 | 404 | |
| Dividends paid | 0 | – | – | – |
| 0 | 0 | 8 | 105 | |
| – | – | – | – |
Valuation
- 9.9×
- 10.6×
- –
- 4.1×
- 1.2×
- 13.0×
- 4.1×
- 7.7%
- 10.1%
- 0.0%
Profitability
- 88.0%
- 24.4%
- 12.1%
- 36.4%
- 16.5%
- 15.2%
- 40.6%
- 5.8%
- 24.9%
- –
Growth
- +5.4%
- –
- +20.6%
- +33.8%
- +0.8%
Financial health
- 1.6×
- 3.84
- 55.8%
- 2.5×
- 0.91
- 0.90
- 0.48
How it ranks in Communication Services
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Top 14%of 435
Top 18%of 437
Top 16%of 346
Top 49%of 439
Top 38%of 439
What analysts expect
- Average price target
- $74.00
- Range
- $74.00 – $74.00
- 1 analysts
These targets were collected on May 20, 2026 and our analyst feed has not updated since, so we no longer compare them with today's price.
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 13, 2026 | 1.39 | 0.99 | +40.4% |
| Mar 13, 2026 | -0.39 | 1.33 | −129.3% |
| Nov 10, 2025 | 1.14 | 1.21 | −5.8% |
| Aug 7, 2025 | 8.30 | 1.18 | +603.4% |
| May 15, 2025 | 1.36 | 0.83 | +63.9% |
| Mar 20, 2025 | 0.98 | 0.77 | +27.3% |
| Nov 14, 2024 | 3.00 | 0.57 | +426.3% |
| Aug 8, 2024 | 1.00 | – | – |
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
2/7Passes 2 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
54No pass
Benjamin Graham
34No pass
Philip Fisher
63Pass
Peter Lynch
33No pass
Joel Greenblatt
65Pass
Charlie Munger
55No pass
Terry Smith
48No pass
Questions about VEON
Is VEON a good stock to buy?
A solid business, and the price looks low. 2 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the VEON AI analysis
What does VEON do?
VEON Ltd. provides telecommunications and digital services in Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. It is in Telecom Services, based in Dubai, United Arab Emirates, with 18,938 employees.
Does VEON pay a dividend?
No. VEON does not pay a dividend at the moment; in 2025 it returned $105 million to shareholders by buying back its own shares.
Is VEON stock halal?
No. VEON does not pass our halal screen: its debt is 98% of its market value, at or above the 33% limit. How we check
How has VEON stock done over the past year?
Up 58.8% over the past twelve months, to $76.42. It traded between $44.31 and $88.45 and is 13.6% below its high.
Who are VEON's competitors?
The largest listed companies in the same industry are China Mobile, Verizon, T-Mobile US and AT&T. The peers table on this page compares their profit, growth and price with VEON's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.