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Friday 6 November 2026 Export VEON’s income statement to Excel — free account

VEON Ltd.

VEON Communication Services Telecom Services

VEON Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $4.4 billion, up 9.87% from fiscal 2024.

Revenue
+16.9%
EPS
−79.6%
Free cash flow
+431.6%
Total debt
+19.1%

Quarter to June 2026, against a year earlier

79.50 4.16 +5.52%
Market cap
$4.8B
P/E
90.0×
Fwd P/E
12.5×
Dividend yield
—
F-score
8/9
Altman Z
0.79
Beneish M
−2.57
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

VEON Ltd. (VEON) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, VEON Ltd. (VEON) trades at a EV/EBITDA of 4.4×. Over the past ten years it has ranged from 1.1× (December 2015) to 16.0× (November 2022); the current reading is higher than 77% of that period. That is below the Telecom Services industry median of 7.1× and below the Communication Services sector median of 8.8×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 2.9× (1.65%)
FY2024 3.0× 18.05%
FY2023 2.5× (21.06%)
FY2022 3.2× (47.69%)
FY2021 6.1× 69.29%
FY2020 3.6× 12.17%
FY2019 3.2× 3.97%
FY2018 3.1× (36.14%)
FY2017 4.8× 1.87%
FY2016 4.8× 25.60%

Quarterly newest first

Period EV/EBITDA Change
Jun 2026 3.6× 29.85%
Mar 2026 2.8× (5.30%)
Dec 2025 2.9× (6.27%)
Sep 2025 3.1× 21.04%
42 more quarters

Against its own ten years

Low 1.1× High 16.0×
Ten-year median 3.2×
Current reading's percentile 77

EV/EBITDA against peers

Company EV/EBITDA
TKC Turkcell Iletisim Hizmetleri AS compare 2.5×
TDS Telephone and Data Systems, Inc. compare 2.7×
VEON VEON Ltd. 4.4×
PHI PLDT Inc. compare 4.9×
LUMN Lumen Technologies, Inc. compare 5.7×
LBTYK Liberty Global Ltd compare 8.9×
LBTYA Liberty Global Ltd compare 9.0×
LBTYB Liberty Global Ltd compare 9.5×
IRDM Iridium Communications Inc compare 16.6×
Telecom Services industry median 7.1×
Communication Services sector median 8.8×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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