VEON financial statements
The full income statement, balance sheet, and cash-flow statement for VEON Ltd. ADS (VEON), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 4.40B+9.9% | 4.00B+8.3% | 3.70B-1.5% | 3.75B-2.5% | 3.85B+10.6% | |
| Operating income | 1.44B+29.6% | 1.11B+19.5% | 929M-20.1% | 1.16B+13.7% | 1.02B+24.3% | |
| Interest expense | 535M+8.1% | 495M-6.8% | 531M-8.9% | 583M-1.4% | 591M+3.9% | |
| Pre-tax income | 785M+11.5% | 704M+25.9% | 559M-30.3% | 802M+72.8% | 464M+24.4% | |
| Income tax | 194M-10.6% | 217M+21.2% | 179M+159.4% | 69.0M-79.9% | 344M+23.3% | |
| Net income | 591M+21.4% | 487M+119.9% | -2.45B-27122.2% | -9.00M-101.1% | 801M+353.5% | |
| $7.50+30.4% | $5.75+116.0% | -$36.00-1500.0% | -$2.25-123.7% | $9.50+290.0% | ||
| EPS (basic) | $7.50+30.4% | $5.75+116.0% | -$36.00-1500.0% | -$2.25-123.7% | $9.50+290.0% | |
| Weighted-avg shares (basic) | 69.8M-1.4% | 70.8M+0.8% | 70.2M+0.2% | 70.1M-0.2% | 70.2M+0.2% | |
| Weighted-avg shares (diluted) | 71.8M-0.9% | 72.4M+1.6% | 71.3M+1.2% | 70.4M-1.2% | 71.3M+1.2% | |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| — | — | — | — | 3.55B+24.7% | ||
| Cash & equivalents | 1.73B+2.5% | 1.69B-11.2% | 1.90B-38.8% | 3.11B+38.0% | 2.25B+34.9% | |
| Accounts receivable | 601M+34.2% | 448M-17.3% | 542M+18.9% | 456M | — | |
| Inventory | 32.0M+113.3% | 15.0M-34.8% | 23.0M+27.8% | 18.0M-83.8% | 111M+0.0% | |
| 9.21B+14.7% | 8.04B-2.2% | 8.22B-45.5% | 15.1B-5.3% | 15.9B+9.4% | ||
| Property, plant & equipment | — | — | — | 2.85B-57.6% | 6.72B-2.4% | |
| Goodwill | 399M+18.0% | 338M-3.2% | 349M-11.4% | 394M-74.4% | 1.54B-42.5% | |
| Total non-current assets | 6.10B+18.5% | 5.15B+1.8% | 5.06B-4.7% | 5.31B-49.4% | 10.5B-10.2% | |
| Total current liabilities | 3.43B-5.4% | 3.63B+1.2% | 3.58B-22.8% | 4.64B+6.0% | 4.38B-0.6% | |
| 1.34B+21.9% | 1.10B+28.1% | 858M+50.8% | 569M-2.9% | 586M+259.5% | ||
| Total equity incl. non-controlling | 1.63B+30.0% | 1.26B+17.4% | 1.07B+39.6% | 767M-49.0% | 1.50B+48.6% | |
| Shares outstanding (cover) | 74.0M+0.0% | 74.0M+5.3% | 70.3M+0.0% | 70.3M+0.0% | 70.3M+0.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Depreciation & amortization | 802M+10.2% | 728M-1.0% | 735M-5.5% | 778M-2.6% | 799M+9.5% | |
| Intangible amortization | 224M+12.6% | 199M-4.3% | 208M-5.9% | 221M+13.9% | 194M+9.6% | |
| Capital expenditure | 733M+16.9% | 627M+18.1% | 531M-16.2% | 634M-9.3% | 699M+27.1% | |
| Long-term debt repaid | 1.30B-2.8% | 1.33B+40.2% | 951M-41.3% | 1.62B-18.1% | 1.98B-52.3% | |
| Dividends paid | 67.0M-19.3% | 83.0M+84.4% | 45.0M | 0.00 | 0.00-100.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 3.89B+31.1% | 2.97B+114.3% | 1.38B+60.8% | 861M-71.3% | 3.00B+13.2% | |
| P/E | 6.6×+8.0% | 6.1× | — | 1.1×-71.3% | 3.8× | |
| P/S | 0.9×+19.3% | 0.7×+100.9% | 0.4×+64.9% | 0.2×-71.3% | 0.8×+2.4% | |
| P/B | 2.9×+7.5% | 2.7×+10.9% | 2.4×+65.6% | 1.5×-71.3% | 5.1×-68.5% | |
| Earnings yield | 15.2%-7.4% | 16.4% | — | 93.1%+249.0% | 26.7% | |
| Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Source filing | 20-F | 20-F | 20-F | 20-F | 20-F |
About this data
Source: VEON’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all VEON filings on SEC EDGAR → Not investment advice.