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Earnings transcript
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VEON
VEON Ltd.
$60.36
-0.06
(-0.1%)
| Exchange: | NASDAQ |
| Market Cap: | 4.179B |
| Shares Outstanding: | 1.014B |
Delayed data
About The Company
| Sector: | Communication Services | |||||
| Industry: | Telecommunications Services | |||||
| CEO: | Muhterem Kaan Terzioglu | |||||
| Full Time Employees: | 18938 | |||||
| Address: |
| |||||
| Website: | https://www.veon.com |
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. The company distributes its products and services through a direct sales force, franchises, third-party retailers, distributors, supermarkets, stores, chains, online, offices, and other channels. The company was formerly known as VimpelCom Ltd. and changed its name to VEON Ltd. in March 2017. VEON Ltd. was founded in 1992 and is headquartered in Dubai, the United Arab Emirates.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 3,698,000 | 4,004,000 | 4,474,522.961 |
| Gross Profit | 3,257,000 | 3,489,000 | 3,123,723.576 |
| EBITDA | 1,393,000 | 1,476,000 | 2,158,430.943 |
| Operating Income | 929,000 | 1,110,000 | 1,043,614.584 |
| Net Income | -2,528,000 | 415,000 | 541,133.488 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 8,218,000 | 8,036,000 | 9,213,378.160 |
| Total Liabilities | 7,147,000 | 6,779,000 | 7,579,665.744 |
| Total Stockholders Equity | 858,000 | 1,099,000 | 1,339,764.160 |
| Total Debt | 5,156,000 | 4,694,000 | 5,144,094.480 |
| Cash and Cash Equivalents | 1,902,000 | 1,689,000 | 1,731,695.168 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 2,111,000 | 1,150,000 | 1,376,228.589 |
| Capital Expenditure | -531,000 | -907,000 | -745,584.299 |
| Free Cash Flow | 1,580,000 | 243,000 | 630,644.290 |
| Net Income | 559,000 | 704,000 | 541,133.488 |
| Net Change in Cash | -1,201,000 | -214,000 | 42,994.966 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 6,521,333.653 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 6,849,905.607 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 6,712,666.667 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 2,794,230.924 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 2,935,015.917 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 2,876,212.410 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 1,070,374.327 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 1,141,106.007 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 1,111,562.415 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 2,746,699.189 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 2,885,089.335 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 2,827,286.115 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 15.490 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 15.900 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 14.920 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 2 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: VEON reported strong financial results for FY 2024 and Q4 2024, as highlighted in the earnings call transcript. Key metrics such as revenue and EBITDA growth reflect operational efficiency and market resilience, positioning the company favorably within the telecommunications sector.
- Strategic Agility: The earnings call emphasized VEON's ability to adapt to challenging conditions through strategic initiatives, including digital transformation and operational optimizations, which have supported sustained growth in key markets.
- Positive Free Cash Flow: Analysis of cash flow statements indicates a healthy free cash flow yield (TTM), suggesting VEON's capacity to fund operations, reduce debt, and potentially return value to shareholders, despite industry headwinds.
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Intrinsic Value Calculator
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Common questions about VEON valuation
Is VEON Ltd. (VEON) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for VEON Ltd. (VEON) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is VEON a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether VEON trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is VEON’s P/E ratio?
You can see VEON’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for VEON?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is VEON a good long-term investment?
Whether VEON fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
VEON
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Daily snapshot
-0.1
Trading Metrics:
| Open: | 60.5 | Previous Close: | 60.42 | |
| Day Low: | 59.12 | Day High: | 60.85 | |
| Year Low: | 42.6 | Year High: | 63.48 | |
| Price Avg 50: | 53.94 | Price Avg 200: | 52.55 | |
| Volume: | 48099 | Average Volume: | 90736 |
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Login — it's freeVEON full analysis
Welcome to MARKETSNAP’s SWOT analysis for VEON! If you’re not familiar with this name, VEON is a global digital operator providing mobile and internet services across several emerging markets. Headquartered in the Netherlands, they operate in regions like Eastern Europe, Central Asia, and parts of Africa, focusing on connectivity and digital solutions. They’ve got a sizable footprint with millions of customers, and they’re part of the broader telecommunications sector, which, as many of you know, can be a mixed bag…
