VEON
Premium GrowerAI neutralVEON Ltd. · Communication Services · United Arab Emirates · $5.7B cap · $13.8M/day traded
$75.15 -1.7% · close 12 Nov · scored 13 Nov
Premium Grower: Strong business with the market behind it, priced at a premium.
As of 13 Nov 2026, the MoatMap Score for VEON Ltd. (VEON) is 78/100, ranked against 25,000+ stocks in 38 markets (Quality 58, Value 42, Momentum 76, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
VEON runs mobile networks and fast-growing digital services across Pakistan, Ukraine, Kazakhstan, Bangladesh and Uzbekistan. Digital revenue grew 53.6% in the second quarter, full-year guidance was raised, the shares hit a 52-week high, insiders have been buying and consensus earnings estimates are rising. The progress is real, but operations are concentrated in volatile, oil-importing emerging markets with weak currencies, the Ukrainian business operates in a war zone, and telecom networks remain capital-intensive.
ABOUT VEON LTD.
Read
VEON Ltd. is a global digital operator providing mobile connectivity, fixed-line broadband, and an array of digital services to millions of customers across emerging markets. Its competitive moat is built on extensive network infrastructure and a large subscriber base in key high-growth regions, enabling scale and deep market penetration. VEON is transforming from a traditional telecom into a full-fledged digital services provider.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3.8B | 3.7B | 4.0B | 4.4B | 5.4% | 4.8B | 5.1B | 5.6B | 12.8% |
| EPS | -114.45 | -911.30 | 149.49 | 186.22 | 24.6% | — | 254.86 | 314.37 | 29.9% |
| Shares | 69.2M | 69.2M | 69.2M | 69.2M | 0.0% | 68.9M | — | — | — |
| Debt | 8.2B | 5.2B | 4.7B | 5.1B | -14.3% | 5.9B | — | — | — |
| Equity | 569.0M | 858.0M | 1.1B | 1.3B | 33.0% | — | — | — | — |
| Op CF | 2.6B | 2.1B | 1.1B | 1.4B | -19.1% | 1.6B | — | — | — |
| Inv CF | -1.7B | -2.2B | -778.0M | -791.0M | — | — | — | — | — |
| Fin CF | 116.0M | -1.1B | -551.0M | -548.0M | — | — | — | — | — |
Above its 200-day average and 16% below its 52-week high.
Swung more than 51% of stocks we rank over the past year (volatility 43% a year).
How this is worked out
The Price check reads only the chart, the price side of the Momentum score in words; it is not the MoatMap Score.
- Still falling: It set a new 52-week low in the last two weeks, after a deep fall.
- Finding a floor: It fell hard, but has set no new low for more than two weeks.
- Turning up: It has climbed off its low and is back above a rising 50-day average.
- In an uptrend (this stock): It is near its 52-week high and above its 200-day average.
- No clear trend: None of the above: no recent deep fall and no steady climb.
- No read yet: Not enough price history yet: it needs a year of trading.
In past US falls, waiting for Turning up cut the chance of another 20% drop from 42% to 33%. Returns were no better, and 33% of turns failed.
The exact rules
Still falling is a new 52-week low in the last two weeks, at least 25% below the high, with the low set after the high. Finding a floor is the same fall with no new low in the last two weeks. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average, with the 50-day average above the 200-day, and within 15% of the high. No clear trend is everything else. No read yet is under 252 trading days of history, or missing data. A new state shows once it has held for three trading days.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Communication Services, ranked by industry match, size, and score similarity. Cross-listings of VEON are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| VEON | VEON Ltd.(you) | $5.7B | 78 |
| KYIV | Kyivstar Group Ltd. | $3.1B | 84 |
Peer medians: ROE 25.8% · P/E 18.3x · Gross margin 88.1%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.