VEON Valuation

Is VEON undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of VEON when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VEON ($30.95) is trading below our estimate of fair value ($824.51)

Significantly Below Fair Value: VEON is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VEON?

Key metric: As VEON is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for VEON. This is calculated by dividing VEON's market cap by their current earnings.
What is VEON's PE Ratio?
PE Ratio	7.1x
Earnings	US$308.00m
Market Cap	US$2.23b

VEON key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.4x
Enterprise Value/EBITDA	3.1x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does VEON's PE Ratio compare to its peers?

The above table shows the PE ratio for VEON vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	19.7x
TIGO Millicom International Cellular	28.3x	28.4%	US$4.4b
GOGO Gogo	17.3x	19.3%	US$993.7m
SPOK Spok Holdings	22x	7.4%	US$323.3m
UCL uCloudlink Group	11.1x	n/a	US$48.7m
VEON VEON	7.1x	n/a	US$2.2b

Price-To-Earnings vs Peers: VEON is good value based on its Price-To-Earnings Ratio (7.1x) compared to the peer average (19.7x).

Price to Earnings Ratio vs Industry

How does VEON's PE Ratio compare vs other companies in the Global Wireless Telecom Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: VEON is good value based on its Price-To-Earnings Ratio (7.1x) compared to the Global Wireless Telecom industry average (16.8x).

Price to Earnings Ratio vs Fair Ratio

What is VEON's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VEON PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	7.1x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VEON's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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