VEON Ltd. (VEON) Financial Ratio Screen

NASDAQ Communication Services United Arab Emirates USD 4190M
RATIOS FAIL*
Automated financial screen · activity assessed separately
VEON Ltd. (VEON) is potentially non-compliant in the automated ratio model. The company's debt ratio of 55.8% exceeds the 30% MSCI new-inclusion threshold relative to total assets. VEON Ltd. operates in the Communication Services sector.

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MSCI new-inclusion financial-ratio snapshot

VEON financial screening at a glance

RATIOS FAIL*Financial ratios shown separately from business review — not a fatwa
Debt ratio
55.8%
Fail vs 30%
Cash ratio
24.1%
Pass vs 30%
Receivables + cash
31.6%
Fail vs 30%
Impermissible income
1.2%
Pass vs 5%

Calculation date: 2026-08-31. Financial period used: December 2025. The ratios are automated proxies inspired by published methodologies; they are not official index determinations.

Independent method comparison

What the available screens say

How MSCI, FTSE and S&P-style screens differ
Request this stock review
MSCI-styleFinancial criteria not metAt least one available ratio exceeds its threshold
FTSE/Yasaar-styleFinancial criteria not metAt least one available ratio exceeds its threshold
S&P-style provisionalNot yet availableRequired denominator or financial data is incomplete
Business activityAssessment pendingFinancial results do not determine business permissibility
Complete screening result: not yet completeA complete result requires both supported financial criteria and adequate activity evidence. This site does not issue a fatwa or official index decision.
Financial periodDecember 2025Calculation date2026-08-31S&P-style historynot availableLast activity reviewnot yet reviewed

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Business activity evidence

Activity assessment in progress

The supplied classification (Telecom Services) is only a starting point. Revenue evidence is being assessed before any complete screening conclusion.

Revenue segments: Not yet checked against an SEC annual filing.

Profile description reviewed: VEON Ltd. provides telecommunications and digital services in Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. The company offers mobile telecommunications services under prepaid and postpaid subscriptions, including value-added and call completion services, national and international roaming services, wireless Internet access, mobile financial services, and mobile bundles; fixed-line telecommunications using fiber optic networks; cross-border transmission services; prepaid scratch cards and electronic recharge options; mobile services on 2G, 3G, and 4G/LTE networks; cloud solutions, including consumer storage apps; local, long-distance, and international voice services; and customer support through contact centers. It also provides FikrFree, a digital insurance marketplace; Tamasha, a video streaming app; ROX, a digital lifestyle brand; Garaj, a cloud platform; ApnaClinic and Helsi digital healthcare platforms; SIMOSA, ZARR, and RYZE lifestyle platforms; Kyivstar TV, a media streaming service; My Kyivstar, a self-service application; Uklon, a ride-hailing and delivery platform; Adwisor, an adtech platform; Simply, a mobile-only neobank; BeeTV, an entertainment platform; Hitter and riitm music streaming platforms; MyBL, Janymda, and Hambi super-apps; AI tutor, an AI-powered learning assistant; Toffee, an infotainment platform; BCloud, a digital infrastructure solution; Beepul, a financial services solution; KINOM, a digital entertainment platform; BeeMarket, an electronics and home appliance marketplace; Hambi Davo, a suite of digital health services; and OQ, a digital platform. The company distributes its products and services through a direct sales force, franchises, third-party retailers, distributors, supermarkets, stores, chains, online, offices, and other channels. The company was formerly known as VimpelCom Ltd. and changed its name to VEON Ltd. in March 2017. VEON Ltd. was founded in 1992 and is headquartered in Dubai, the United Arab Emirates.

Sources to verify: Secondary company profile and classification · Issuer website · SEC issuer filings

A sector label or company description can flag a risk but cannot establish a compliant-revenue percentage. Only sourced segment disclosures may support that calculation.

Published-ratio reproductions (not certifications)

The table shows implemented MSCI and FTSE/Yasaar-style asset-based models plus a provisional S&P-style leverage reconstruction where a complete 36-month denominator exists. These are independent calculations, not official index results or Shariah determinations. See formulas, sources and limitations.

Based on financial data from December 2025

Standard Debt Ratio Cash Ratio Receivables Income Status
MSCI 55.8%
/ 30%
24.1%
/ 30%
31.6%
/ 30%
1.18%
/ 5%
RATIOS FAIL*
FTSE 55.8%
/ 33%
24.1%
/ 33%
31.6%
/ 50%
1.18%
/ 5%
RATIOS FAIL*

Financial Highlights

P/E Ratio
60.8
Forward: 7.4
EPS
$1.00
P/B Ratio
2.8
EV/EBITDA
4.2
EV: $7.7B
Revenue
$4.4B
Growth: 16.9%
Beta
1.6
High volatility
Current Ratio
1.0

Profitability

Gross Margin 87.1%
Operating Margin 25.8%
Net Margin 1.2%
Return on Equity (ROE) 7.5%
Return on Assets (ROA) 8.5%

Cash Flow & Balance Sheet

Operating Cash Flow$1.4B
Free Cash Flow$404M
Total Debt$5.1B
Debt-to-Equity304.7
Current Ratio1.0
Total Assets$9.2B

Price & Trading

Last Close$60.40
50-Day MA$54.09
200-Day MA$52.63
Avg Volume86K
Beta1.6
52-Week Range
$42.60
$63.48

Financial data provenance and verification

The displayed fields were imported from yfinance on 2026-08-29 for the financial period December 2025. This is a secondary data feed and can differ from amended or newly filed statements.

Verification rule: check debt, cash, receivables, revenue and interest income against the latest primary filing before relying on an automated ratio.

About VEON Ltd. (VEON)

CEO
Mr. Muhterem Kaan Terzioglu
Employees
18,938
Sector
Communication Services
Industry
Telecom Services
Country
United Arab Emirates
Exchange
NASDAQ
Market Cap (listing currency)
USD 4190M
Currency
USD

VEON Ltd. provides telecommunications and digital services in Pakistan, Ukraine, Kazakhstan, Bangladesh, and Uzbekistan. The company offers mobile telecommunications services under prepaid and postpaid subscriptions, including value-added and call completion services, national and international roaming services, wireless Internet access, mobile financial services, and mobile bundles; fixed-line telecommunications using fiber optic networks; cross-border transmission services; prepaid scratch cards and electronic recharge options; mobile services on 2G, 3G, and 4G/LTE networks; cloud solutions, including consumer storage apps; local, long-distance, and international voice services; and customer support through contact centers. It also provides FikrFree, a digital insurance marketplace; Tamasha, a video streaming app; ROX, a digital lifestyle brand; Garaj, a cloud platform; ApnaClinic and Helsi digital healthcare platforms; SIMOSA, ZARR, and RYZE lifestyle platforms; Kyivstar TV, a media streaming service; My Kyivstar, a self-service application; Uklon, a ride-hailing and delivery platform; Adwisor, an adtech platform; Simply, a mobile-only neobank; BeeTV, an entertainment platform; Hitter and riitm music streaming platforms; MyBL, Janymda, and Hambi super-apps; AI tutor, an AI-powered learning assistant; Toffee, an infotainment platform; BCloud, a digital infrastructure solution; Beepul, a financial services solution; KINOM, a digital entertainment platform; BeeMarket, an electronics and home appliance marketplace; Hambi Davo, a suite of digital health services; and OQ, a digital platform. The company distributes its products and services through a direct sales force, franchises, third-party retailers, distributors, supermarkets, stores, chains, online, offices, and other channels. The company was formerly known as VimpelCom Ltd. and changed its name to VEON Ltd. in March 2017. VEON Ltd. was founded in 1992 and is headquartered in Dubai, the United Arab Emirates.

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Frequently Asked Questions

Is VEON Ltd. (VEON) halal to invest in?

The current automated result is Financial criteria not met or an activity exclusion was detected. It uses available public financial fields and simplified methodology proxies. It is not a fatwa or an official determination by AAOIFI, DJIM, MSCI, S&P, or FTSE.

What is VEON Ltd.'s debt ratio?

VEON Ltd.'s debt ratio is 55.8% in the MSCI new-inclusion reproduction: total debt divided by total assets, against a 30% threshold. See the methodology page for the official source and limitations.

What are VEON Ltd.'s key financial metrics?

VEON Ltd. has a market capitalization of USD 4190M in its listing currency, trailing P/E ratio of 60.8, and revenue of $4.4B. The company maintains a gross margin of 87.1% and a net margin of 1.2%. Return on equity stands at 7.5%.

How often is the screening data updated?

Calculation date: 2026-08-31. Financial period: December 2025. These dates are shown separately because regenerating this page does not refresh the underlying data.

Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.