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  4. VEON LTD - ADR
VEON Ltd - ADR
XNAS: VEON
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XNAS 05 Oct, 2026 5:30 PM (EDT)

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VEON Ltd (ADR) quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents

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Forecaster Analyst Estimates for VEON Ltd (ADR) share price target, revenues, EPS, net income and more

VEON Ltd (ADR) quarterly results: revenue, profit, and P&L – 13 quarter history

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  • POSITIVE

    Quarterly Revenue VEON Ltd (ADR) Jun-2026 Quarterly Revenue is $1,271 Million which is growth of 16.9% YoY.

  • NEGATIVE

    Quarterly Net Profit VEON Ltd (ADR) Jun-2026 Quarterly Net Profit is $122 Million which is growth of -79.9% YoY.

VEON Ltd - ADR, Earnings Report - Quarterly Results, standalone, All financials are in USD Million and price data in USD
IndicatorGraphJun '26Mar '26Dec '25Sep '25Jun '25Mar '25Dec '24Sep '24Jun '24Mar '24Dec '23Sep '23Jun '23
Operating Rev.
1,2711,2011,1711,1151,0871,0269981,0381,027942953945916
Cost Of Rev.
171151160133-129--121119--110
Gross Profit
1,1001,0501,011982-897--906823--806
⌄
773742662825-656--626621--575
Operating Profit
327308349157820241--280202220-231
⌄
-137-132-125-132--109---106-121---123
Profit Before Tax
20018356-83682130--142119149-188
Tax
606064447412--534157-40
⌄
12299-31-13160899--6857-3,564-250
Diluted NI Avail to Com Stockholders Ann.
12299-31-13160899--6857-3,564-250
Basic EPS
1.81.5-0.6-1.98.61.51.2-10.8-50.7-3.5
Diluted EPS After ExtraOrdinary
1.61.40.9-0.98.31.91.2-1.40.61-8
Number Of Shares End
69.769.67068.869.66670.670.7687670.270.271.4
Net Income Continuing Discontinued Operations
12299-31-13160899--6857-3,564-250
Normalized Income
127.4115.6143.3-42.91,053.5147.1360-90.362.9342-139.3
Interest Income
3018---10--1111--17
Interest
167150177132118119--117132107-140
Net Interest Income
-137-132-125-132--109---106-121---123
EBIT
33731518149682239--248240--311
EBITDA
562524385254682437--428425--495
Reconciled Cost Of Rev.
171151160133-127--121118--110
Reconciled Depr.
225209204205-200--180185144-184
Profit From Continuing Operations
200183---130---119---
Normalized EBITDA
572529575360800481--477413400-444
*All financials are in USD Million and price data in USD
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VEON Ltd (ADR) competitor comparison and performance snapshot within industry

VEON Ltd (ADR) annual results: revenue, profit, P&L, and margins as of Dec 2025 – 11 year history

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  • POSITIVE

    Annual Revenue VEON Ltd (ADR) Dec-2025 Annual Revenue is $4,399 Million which is growth of 9.9% YoY.

  • POSITIVE

    Annual Net Profit VEON Ltd (ADR) Dec-2025 Annual Net Profit is $532 Million which is growth of 28.2% YoY.

VEON Ltd - ADR, Earnings Report - Annual Results, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsTTMDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
5.4%
-11.2%
 4,3994,0043,6983,7557,7887,9808,8639,0869,4748,8859,625
Cost Of Rev. Ann.
3.4%
-22.6%
6155265154414761,8801,8902,0332,1162,1391,9852,187
Gross Profit Ann.
5.7%
-8.7%
4,1433,8733,4893,2573,2795,9086,0906,8306,9707,3356,9007,438
Operating Exp. Ann.
7.1%
-9%
3,0022,8012,5062,3662,2824,4004,4934,5955,4695,6805,5466,630
Operating Profit Ann.
2.4%
-7.7%
1,1411,0729838919971,5081,5972,2351,5011,6551,354808
⌄
-
-
-526-483-446-471-551-674-660-839-749-840-761-777
Other Exp. Ann.
-18%
-
 19616713935674-911-215-1,000-839-246-626
PBT Ann.
-0.7%
97.7%
356785704559802908261,181-248-24347-595
Tax Ann.
41.1%
-10.7%
22819421717969258342498369472635220
⌄
-
-
59532415-2,528-162674-349621582-4832,328-655
Diluted NI Avail to Com Stockholders Ann.
-
-
59532415-2,528-162674-349621582-4832,328-655
EPS Ann.
-
-
 7.55.8-36-2.39.8-598.3-733.3-9.3
Diluted EPS Ann.
-
-
 7.55.8-36-2.39.8-598.3-733.3-9.3
Number Of Shares End
0%
1.1%
 7070.670.270.165.666.268.470139.969.670
Total Exp. Ann.
6.5%
-12.2%
 3,3273,0212,8072,7586,2806,3836,6287,5857,8197,5318,817
Net Income Continuing Discontinued Operations Ann.
-
-
59532415-2,528-162674-349621582-4832,328-655
Normalized Income Ann.
5%
-8.5%
343.5440.4367.3277.3380.2619.2688936401-7311-206
Interest Income Ann.
17.6%
17.7%
 5249603216235367956952
Interest Ann.
-2.8%
-4.8%
626535495531583690683892816935830829
EBITDA Ann.
-28.1%
-4.4%
1,7252,0791,8811,7655,5873,4352,6054,1743,1932,8073,0442,249
Reconciled Cost Of Rev. Ann.
-3.9%
-14.1%
6155175124415831,8601,1051,9251,2582,1391,9852,187
Reconciled Depr. Ann.
6.5%
-21.4%
8438117317356711,8732,7042,1542,6921,9911,9362,067
Profit From Continuing Operations Ann.
-0.7%
97.7%
 785704559802908261,181-248-24347-595
Normalized EBITDA Ann.
2.8%
-15.2%
2,0361,9311,7571,6801,7773,4254,4024,4804,2783,3253,4122,916
*All financials are in USD Million and price data in USD
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Total Rev. Ann.
1Y CHG
9.9%
2Y CAGR
9.1%
3Y CAGR
5.4%
5Y CAGR
-11.2%
7Y CAGR
-9.8%
10Y CAGR
-7.5%
Total Revenue Annual growth is higher than historical averages.
Net Profit Ann.
1Y CHG
28.2%
7Y CAGR
-1.3%
Net Profit Annual growth is stable compared to historical averages.
Operating Exp. Ann.
1Y CHG
11.8%
2Y CAGR
8.8%
3Y CAGR
7.1%
5Y CAGR
-9%
7Y CAGR
-9.1%
10Y CAGR
-8.3%
Operating Expenses Annual Cr growth is higher than historical averages.

VEON Ltd (ADR) balance sheet as of Dec 2025: assets, liabilities, reserves, and borrowings – 11 year history

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  • POSITIVE

    Total Shareholders Fund VEON Ltd (ADR) Dec-2025 Total Shareholders Fund is $1,340 Million which is growth of 21.9% YoY.

  • POSITIVE

    Total Assets VEON Ltd (ADR) Dec-2025 Total Assets is $9,215 Million which is growth of 14.7% YoY.

VEON Ltd - ADR, Balance Sheet, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
-15.1%
-8.7%
9,2158,0368,21815,08315,92114,55116,05914,10219,52121,19333,854
⌄
-19.1%
-10.9%
7,5816,7797,14714,31614,41613,53813,83911,32315,59415,15029,960
⌄
33%
52.4%
1,3401,0998585695861631,2263,6704,3525,9603,765
Total Capitalization Ann.
33%
52.4%
1,3401,0998585695861631,2263,6704,3525,9603,765
Tangible Assets Ann.
-
-
-209-411-761-1,391-2,658-3,989-4,462-2,000-2,210-993-2,682
Working Capital Ann.
-
-
-----------
Invested Capital Ann.
-
-
-----------
Tangible Book Value Ann.
-
-
-209-411-761-1,391-2,658-3,989-4,462-2,000-2,210-993-2,682
Borrowings Ann.
-
-
-----------
Net Debt Ann.
-
-
-----------
Share Issued Ann.
1.7%
1%
1,849.21,849.21,756.71,756.71,764.31,756.71,756.71,756.73,505.91,756.71,756.7
Number Of Shares End
0%
1.1%
7070.670.270.165.666.268.470139.969.670
*All financials are in USD Million and price data in USD
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Total Assets Ann.
1Y CHG
14.7%
2Y CAGR
5.9%
3Y CAGR
-15.1%
5Y CAGR
-8.7%
7Y CAGR
-5.9%
10Y CAGR
-12.2%
Total Assets Annual growth is higher than historical averages.
Total Current Liabilities Ann.
1Y CHG
-6%
2Y CAGR
-2.1%
3Y CAGR
-27.1%
5Y CAGR
-4.9%
7Y CAGR
-3.5%
10Y CAGR
-16.6%
Total Current Liabilities Annual Cr is falling faster than historical averages.
Total ShareHolders Funds Ann.
1Y CHG
21.9%
2Y CAGR
25%
3Y CAGR
33%
5Y CAGR
52.4%
7Y CAGR
-13.4%
10Y CAGR
-9.8%
Total ShareHolders Funds Annual growth is stable compared to historical averages.

VEON Ltd (ADR) ROE, ROCE, book value, and debt-to-equity ratio as of Dec 2025 – 11 year history

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  • POSITIVE

    Book Value Per Share VEON Ltd (ADR) Book Value Per Share is $21 which is growth of 65.3% YoY.

  • NEUTRAL

    ROE VEON Ltd (ADR) ROE is 0% which is growth of 0% YoY.

VEON Ltd - ADR, Ratios, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
RoA Ann. %
-
-
-----------
ROE Ann. %
-
-
-----------
ROIC %
-
-
-----------
OPM Ann. %
-2.8%
4%
24.37%24.55%24.09%26.55%19.36%20.01%25.22%16.52%17.47%15.24%8.39%
Inventory Turnover Ratio Ann.
-
-
-----------
Asset Turnover Ann. %
-
-
-----------
Working Capital Turnover Ann.
-
-
-----------
Quick Ratio Ann.
-
-
-----------
Current Ratio Ann.
-
-
-----------
Interest Coverage Ratio Ann.
-
-
-----------
LT Debt To Equity Ann.
-
-
-----------
*All financials are in USD Million and price data in USD
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VEON Ltd (ADR) cash flow: net, operating, investing, and financing flows as of Dec 2025 – 11 year history

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  • POSITIVE

    Cash From Operating Activity VEON Ltd (ADR) Dec-2025 Cash From Operating Activity is $1,353 Million which is growth of 17.7% YoY.

  • POSITIVE

    Net Cash Flow VEON Ltd (ADR) Dec-2025 Net Cash Flow is $14 Million which is growth of 107.8% YoY.

VEON Ltd - ADR, Cash Flow, standalone, All financials are in USD Million and price data in USD
IndicatorGraphCAGR 3 YrsCAGR 5 YrsDec '25Dec '24Dec '23Dec '22Dec '21Dec '20Dec '19Dec '18Dec '17Dec '16Dec '15
⌄
13.2%
-11.1%
1,3531,1501,1609332,3762,4432,9492,5152,4751,1921,104
⌄
-
-
-791-778-1,020-1,057-1,067-1,910-1,8881,997-3,016-2,022-2,494
⌄
-
-
-548-551-919456-676-103-1,639-3,916-733-106-732
Cash Plus Cash Eqv. End Of Year Ann.
-17.7%
1.8%
1,7321,6881,9023,1072,2391,5861,2041,7911,3042,9423,614
Net Increase In Cash Plus Cash Eqv.s Ann.
-69.3%
-42.1%
28-193-1,169963714430-578596-1,274-922-2,040
Cash Plus Cash Eqv. Begin Of Year Ann.
-9%
7%
1,6881,9023,1072,2391,6611,2041,7911,3142,9423,6146,342
Income Tax Paid Supplemental Data Ann.
-
-
-----------
Interest Paid Supplemental Data Ann.
-
-
-----------
Capex Ann.
-
-
-949-907-766-1,010-1,796-1,778-1,683-1,948-2,037-1,651-2,207
Issuance Of Capital Stock Ann.
-
-
132----------
Issuance Of Debt Ann.
-22.5%
-26.8%
9719551942,0872,0904,6212,6108076,1931,8822,052
Repayment Of Debt Ann.
-
-
-1,546-1,483-1,098-1,619-2,466-4,376-2,978-4,122-5,948-1,816-4,840
Repurchase Of Capital Stock Ann.
-
-
-105-8---------
Free Cash Flow Ann.
-
-9.5%
404243394-775806651,266567438-459-1,103
*All financials are in USD Million and price data in USD
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Cash from Operating Act. Ann.
1Y CHG
17.7%
2Y CAGR
8%
3Y CAGR
13.2%
5Y CAGR
-11.1%
7Y CAGR
-8.5%
10Y CAGR
2.1%
Cash from Operating Activity Annual growth is higher than historical averages.
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