VEON (ADR)
Runs telecom networks and digital platforms across five frontier markets.
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Profile
Sells mobile voice and data, fixed broadband, and internet services through Jazz, Kyivstar, Banglalink, and Beeline. Digital financial services, content, ride-hailing, healthcare, cloud computing, and other value-added offerings supplement connectivity across its five-market footprint.
Operates mobile voice and data, fixed broadband, and internet services through Jazz, Kyivstar, Banglalink, and Beeline. Connectivity and infrastructure services can be sold separately or in bundles.
Digital financial services, content streaming, ride-hailing, digital healthcare, cloud computing, and other value-added services extend the telecom offer. The current portfolio spans Pakistan, Ukraine, Bangladesh, Kazakhstan, and Uzbekistan after the completed exit from Russia.
Execution is tied to local telecom regulation, network resilience, and conditions in each operating market. Its footprint includes Ukraine, where Kyivstar experienced a widespread external cyberattack that disrupted services.
Company facts
Categories
Key statistics
Year to date +15.6% · Average volume (30d) 84.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Jun 9, 2026 | Northland Securities | Target | $70 |
| Apr 16, 2026 | Redburn Partners | Target | $74 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 31, 2026Q2 FY26 | $1.59 | $1.69 | +6.3% | $1.23B | $1.27B | +3.4% | −0.95% |
| May 13, 2026Q1 FY26 | $0.99 | $1.39 | +40.4% | $1.17B | $1.20B | +2.3% | −5.22% |
| Mar 13, 2026Q4 FY25 | $1.33 | −$0.39 | −129.3% | $1.12B | $1.17B | +4.8% | −0.20% |
| Nov 10, 2025Q3 FY25 | $1.21 | $1.14 | −5.8% | $1.12B | $1.12B | −0.7% | −3.76% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.03B | $1.09B | $1.12B | $1.18B | $1.21B | $1.27B | |
| Gross profit | $897.0M | $983.0M | $982.0M | $815.3M | $844.7M | $1.10B | |
| Operating income | $239.0M | $820.0M | $59.0M | $319.3M | $309.4M | $327.0M | |
| Net income | $99.0M | $595.0M | −$131.0M | −$31.3M | $99.4M | $122.0M | |
| Diluted EPS | $1.41 | $8.50 | −$1.91 | −$0.59 | $1.39 | $1.75 | |
| Gross margin | 87.4% | 90.4% | 88.1% | 68.9% | 70.0% | 86.5% | |
| Operating margin | 23.3% | 75.4% | 5.3% | 27.0% | 25.6% | 25.7% |
Fiscal years (4-quarter sums)FY21 $7.79B · FY22 $3.76B · FY23 $3.70B · FY24 $4.00B · FY25 $4.41B
Revenue by product · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $2.69B · Total debt $5.85B · Total assets $10.27B · Shareholders' equity $1.51B
Dividends
No dividends on record.
Ownership
Shares outstanding 69.24M · Float 16.87M · 24.4% free float
Insiders — filings are in the shares behind the receipt.
This listing is a depositary receipt and the Form 4 positions here are filed in the shares behind it, a different unit from the share count and in a ratio the filings never state, so no insider percentage is shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Exor Capital LLP | 5.27M | 7.60% | 13F | Jul 29, 2026 |
| Shah Capital Management | 4.67M | 6.74% | 13F | Aug 14, 2026 |
| Solus Alternative Asset Management LP | 887.0K | 1.28% | 13F | Aug 14, 2026 |
| Wellington Management Group LLP | 779.1K | 1.13% | 13F | Aug 14, 2026 |
| Morgan Stanley | 747.9K | 1.08% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | Augie K. II Fabela | director | +5,000 | $56.02 |
| Aug 6, 2026 | Augie K. II Fabela | director | +15,000 | $56.00 |
Peers
- GreenPower Motor
Bangladesh's largest mobile operator, overlapping in connectivity and apps
- PTC
Integrated Pakistan operator spanning Ufone, broadband, and payments
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| VEON (ADR) | $61.12 | +0.29% | $4.21B | 95.1 | — | 0.9 | +16.9% |
| GreenPower Motor | $1.26 | +0.32% | $3.8M | 3.3 | — | 0.2 | −71.7% |
| PTC | $156.40 | −0.53% | $18.15B | 15.2 | 18.7 | 6.1 | −6.8% |
| Median | 9.2 | 18.7 | 3.2 | −39.2% |




