Stocks Telecommunications VEON
NASDAQ · TelecommunicationsVEON Ltd. (VEON)
VEON Ltd. reported revenue of $4.4B in fiscal 2025, up 9.9% from a year earlier. Net income was $591M, a net margin of 13.4%. At December 31, 2025 it held $1.7B in cash against $3.1B of debt. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on March 16, 2026.
Key facts about VEON Ltd.
- Net worth
- VEON Ltd. has a market value (market cap) of $5.2B at the latest share price, and shareholders' equity of $1.3B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $4.4B (+9.9% year on year), with net income of $591M.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on March 16, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What VEON Ltd. does
VEON Ltd. is registered with the SEC under industry code SIC 4812 (Radiotelephone Communications). Its shares trade on NASDAQ under the ticker VEON.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $4.4B | $591M | $0.30 | n/a |
| 2024 | $4B | $487M | $0.23 | n/a |
| 2023 | $3.7B | -$2.5B | -$1.44 | n/a |
| 2022 | $3.8B | -$9M | -$0.09 | n/a |
| 2021 | $3.9B | $801M | $0.38 | n/a |
| 2020 | $3.5B | -$316M | -$0.20 | $1.9B |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where VEON ranks in Telecommunications
Dividends
It paid out $67M in cash dividends, 11% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | $67M | 11% |
| 2024 | n/a | $83M | 17% |
| 2023 | n/a | $45M | n/a |
| 2022 | n/a | $14M | n/a |
| 2021 | n/a | $89M | 11% |
| 2020 | n/a | $349M | n/a |
Latest SEC filings
What VEON Ltd. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 6, 2026
- November 6, 2026
- November 6, 2026
- November 6, 2026
- October 20, 2026
- October 19, 2026
- October 16, 2026Passive stake (5% or more) SCHEDULE 13G
- October 16, 2026Activist stake changed SCHEDULE 13D/A
- September 25, 2026Activist stake changed SCHEDULE 13D/A
- September 23, 2026
Insider trades
What the people running VEON Ltd. did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| August 7, 2026 | Fabela Augie K IIDirector | Boughtindirect | 5,000 | $280.1K |
| August 6, 2026 | Fabela Augie K IIDirector | Boughtindirect | 1,174 | $64.9K |
| August 6, 2026 | Fabela Augie K IIDirector | Boughtindirect | 13,826 | $775K |
| June 7, 2026 | Pompeo MichaelDirector | Received as payindirect | 38,205 | - |
Who owns VEON
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| VEON Amsterdam B.V.13G, passive with 1 related filers | 83.6% | May 11, 2026 |
| LPE Middle East Limited13D, may seek influence with 2 related filers | 45.46% | September 25, 2026 |
| Giovanni Agnelli B.V.13G, passive with 3 related filers | 7.12% | August 10, 2026 |
| Himanshu H. Shah13G, passive with 2 related filers | 6.72% | October 16, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 153 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Lingotto Investment Management LLP | 5,265,123 | -776,938 |
| Shah Capital Management | 4,667,578 | -222,919 |
| Pertento Partners LLP | 5,919,877 | +821,653 |
| Sona Asset Management (US) LLC | 4,014,331 | -1,535,348 |
| Morgan Stanley | 2,175,601 | +640,286 |
| VR Advisory Services Ltd | 2,267,481 | +207,558 |
| Solus Alternative Asset Management LP | 887,002 | 0 |
| Wellington Management Group Llp | 779,077 | -175,449 |
| UBS Group AG | 2,040,552 | -1,251,751 |
| Panview Capital Ltd | 630,616 | +73,004 |
| Philosophy Capital Management LLC | 1,746,889 | +94,744 |
| Jpmorgan Chase & Co | 955,196 | +837,927 |
| Pictet Asset Management Holding SA | 284,145 | +122,458 |
| Mackenzie Financial Corp | 273,619 | +123,177 |
| FIL Ltd | 817,985 | new |
| Marshall Wace, Llp | 657,599 | -502,353 |
| Alyeska Investment Group, L.P. | 711,505 | -750,000 |
| Citadel Advisors LLC | 502,137 | +370,398 |
| Goldman Sachs Group Inc | 569,428 | +478,211 |
| Two Sigma Investments, LP | 193,950 | -30,456 |
Insiders
2 insiders reported holding 282,435 shares in total, about $21.3M at the last price.
| Holder | Shares |
|---|---|
| Pompeo MichaelDirector | 186,435186,435 held indirectly |
| Fabela Augie K IIDirector | 96,00096,000 held indirectly |
Questions about VEON
What does VEON Ltd. do?
VEON Ltd. is a company in the Telecommunications sector, listed on NASDAQ as VEON. Its shares trade on NASDAQ under the ticker VEON.
What is VEON Ltd.'s net worth?
VEON Ltd. has a market value (market cap) of $5.2B at the latest share price, and shareholders' equity of $1.3B on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is VEON Ltd. profitable?
Yes. In fiscal 2025 it reported net income of $591M on revenue of $4.4B, a net margin of 13.4%.
How much revenue does VEON Ltd. make?
In fiscal 2025 VEON Ltd. reported revenue of $4.4B. That is 9.9% more than a year earlier.
When did VEON Ltd. last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on March 16, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from November 6, 2026.
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Where the numbers come from
Financial figures are the values VEON Ltd. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.