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VEON stock: key metrics
VEONVEON had an operating margin of 23.3% and a return on invested capital (ROIC) of 17.6% in fiscal 2025.
Margins show how much of revenue is left over, returns on capital how hard the invested money works.
Daily figure as of 13 Nov 2026
Margins
- Gross margin
- Operating margin
- Net margin
Figures as a table
| Year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| 2006 | 81.7% | 28.7% | 16.7% |
| 2007 | 81.7% | 30.8% | 20.4% |
| 2008 | 76.6% | 25.1% | 5.2% |
| 2009 | 77.1% | 29.6% | 12.9% |
| 2010 | 76.5% | 26.6% | 17.2% |
| 2011 | 72.2% | 14.1% | 2.7% |
| 2012 | 73.4% | 20.6% | 6.7% |
| 2013 | 74.7% | 16.4% | −12.5% |
| 2014 | 76.4% | 13.9% | no data |
| 2015 | 77.4% | 5.5% | no data |
| 2016 | 77.7% | 12.2% | no data |
| 2017 | 77.4% | 15.5% | no data |
| 2018 | 76.7% | 6.1% | no data |
| 2019 | 77.1% | 23.2% | 7.7% |
| 2020 | 87.0% | 23.6% | no data |
| 2021 | 87.4% | 26.6% | no data |
| 2022 | 87.3% | 31.0% | no data |
| 2023 | 88.1% | 25.1% | no data |
| 2024 | 87.1% | 27.7% | 10.4% |
| 2025 | 69.8% | 23.3% | 12.1% |
Returns on capital
- ROE
- ROIC
- ROA
Figures as a table
| Year | ROE | ROIC | ROA |
|---|---|---|---|
| 2006 | 0.0% | no data | 0.0% |
| 2007 | 27.0% | 21.4% | 13.8% |
| 2008 | 11.9% | 17.1% | 3.3% |
| 2009 | 24.9% | 16.1% | 7.6% |
| 2010 | 16.9% | 16.1% | 9.1% |
| 2011 | 3.9% | 5.0% | 1.0% |
| 2012 | 10.4% | 7.4% | 2.8% |
| 2013 | −20.5% | 6.2% | −4.0% |
| 2014 | no data | 3.4% | no data |
| 2015 | no data | 2.4% | no data |
| 2016 | no data | 4.6% | no data |
| 2017 | no data | 5.4% | no data |
| 2018 | no data | 4.0% | no data |
| 2019 | 50.7% | 10.4% | 3.9% |
| 2020 | no data | 4.0% | no data |
| 2021 | no data | 5.3% | no data |
| 2022 | no data | 13.7% | no data |
| 2023 | no data | 13.1% | no data |
| 2024 | 37.8% | 19.7% | 5.2% |
| 2025 | 40.4% | 17.6% | 5.9% |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 7 Aug 2026)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.