VEON Ltd. (VEON) quarterly balance sheet — complete assets, liabilities & equity history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Total Current Assets | 3.12B | 3.11B | 2.88B | 2.65B | 2.97B | 2.9B | 2.46B | 2.39B | 2.13B | 3.16B | 3.12B | 8.12B | 3.89B | 3.98B | 4.73B | 5.7B | 3.22B | 5.42B | 4.99B | 2.5B |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | 1.75B | 1.73B | 1.66B | 1.28B | 1.77B | 1.69B | 1.02B | 862M | 832M | 1.9B | 2.25B | 2.46B | 3.04B | 3.11B | 3.29B | 2.34B | 1.98B | 2.25B | 1.5B | 1.19B |
| Short-Term Investments | 432M | 0 | 364.96M | 504M | 358M | 357M | 606M | 571M | 483M | 433M | 159M | 137M | 145M | 120M | 119M | 113M | 91M | 86M | 32M | 68M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | 33.76 | 44.71 | 43.94 | 42.91 | 41.2 | 44.71 | 44.94 | 43.99 | 43.95 | 41.46 | 43.91 | 43.81 | 44.44 | 58.64 | 79.2 | 68.46 | 62.11 | 30.26 | 31.22 | 31.36 |
| Inventory | 29M | 31.99M | 24M | 0 | 16M | 15M | 24M | 22M | 24M | 23M | 22M | 19M | 19M | 73M | 133M | 115M | 91M | 111M | 112M | 123M |
| Days Inventory Outstanding | 7.59 | 7 | 16.6 | - | 10.69 | 13.69 | 14.69 | 17.3 | 17.97 | 19.35 | 17.63 | 15.72 | 35.38 | 78.97 | 95.87 | 78.11 | 77.69 | 20.6 | 22.24 | 22.6 |
| Other Current Assets | 215M | 704.88M | 232.98M | 343M | 258M | 152M | 291M | 384M | 230M | 60M | 191M | 4.99B | 201M | 54M | 365M | 2.25B | 312M | 2.02B | 2.64B | 366M |
| Total Non-Current Assets | 6.48B | 6.1B | 5.93B | 5.82B | 5.27B | 5.14B | 5.04B | 4.94B | 5.14B | 5.06B | 9.47B | 4.89B | 10.34B | 11.1B | 11.12B | 12B | 11.3B | 10.5B | 10.04B | 12.25B |
| Property, Plant & Equipment | 3.82B | 3.76B | 3.57B | 3.45B | 3.11B | 3.02B | 2.9B | 2.87B | 2.93B | 2.9B | 2.72B | 2.73B | 2.66B | 2.85B | 7.36B | 8.33B | 6.38B | 6.72B | 6.45B | 7.24B |
| Fixed Asset Turnover | 0.32x | 0.32x | 0.32x | 0.33x | 0.34x | 0.34x | 0.36x | 0.35x | 0.32x | 0.34x | 0.35x | 0.34x | 0.32x | 0.18x | 0.11x | 0.13x | 0.15x | 0.31x | 0.29x | 0.27x |
| Goodwill | 0 | 0 | 384.96M | 382M | 341M | 338M | 343M | 345M | 353M | 349M | 341M | 349M | 353M | 394M | 1.15B | 1.25B | 952M | 1.54B | 2.68B | 2.68B |
| Intangible Assets | 1.89B | 1.55B | 1.15B | 1.17B | 1.14B | 1.17B | 1.14B | 1.17B | 1.23B | 1.27B | 1.27B | 1.31B | 1.36B | 1.57B | 1.98B | 1.83B | 1.57B | 1.7B | 467M | 1.55B |
| Long-Term Investments | 150M | 143.97M | 228.98M | 218M | 62M | 65M | 76M | 62M | 85M | 53M | 63M | 63M | 69M | 71M | 117M | 125M | 90M | 99M | 57M | 369M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 9.6B | 9.21B | 8.81B | 8.46B | 8.25B | 8.04B | 7.5B | 7.33B | 7.27B | 8.22B | 12.58B | 13.01B | 14.23B | 15.08B | 15.85B | 17.69B | 14.52B | 15.92B | 15.02B | 14.75B |
| Asset Turnover | 0.13x | 0.13x | 0.13x | 0.13x | 0.13x | 0.13x | 0.14x | 0.14x | 0.12x | 0.09x | 0.07x | 0.07x | 0.06x | 0.06x | 0.05x | 0.06x | 0.06x | 0.13x | 0.13x | 0.13x |
| Asset Growth % | 16.44% | 14.65% | 17.56% | 15.47% | 13.46% | -2.21% | -40.43% | -43.67% | -48.91% | -45.51% | -20.61% | -26.47% | -2.03% | -5.26% | 5.52% | 19.93% | 1.51% | 9.42% | 14.58% | 0.12% |
| Total Current Liabilities | 3.62B | 3.43B | 3.04B | 2.99B | 3.74B | 3.63B | 3.1B | 3.07B | 2.48B | 3.58B | 3.2B | 3.52B | 4.87B | 4.64B | 6.04B | 6.14B | 4.58B | 4.38B | 4.27B | 4.48B |
| Accounts Payable | 1.49B | 1.44B | 1.26B | 1.33B | 1.35B | 1.28B | 1.14B | 1.06B | 1.16B | 1.2B | 951M | 1B | 968M | 1.09B | 1.79B | 1.87B | 1.78B | 2.03B | 1.85B | 1.97B |
| Days Payables Outstanding | 365.47 | 337.43 | 895.83 | 1.19K | 904.17 | 846.61 | 700.54 | 834.04 | 902.35 | 924.73 | 839.18 | 814.45 | 790.38 | 1.1K | 1.42K | 1.38K | 1.46K | 358.49 | 361.28 | 373.8 |
| Short-Term Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 610.99M | 799.86M | 565.94M | 493.09M | 526.03M | 296M | 467M | 496M | 519M | 310M | 491M | 486M | 1.61B | 293M | 922M | 902M | 822M | 517M | 890M | 1.09B |
| Current Ratio | 0.86x | 0.91x | 0.95x | 0.88x | 0.80x | 0.80x | 0.79x | 0.78x | 0.86x | 0.88x | 0.97x | 2.31x | 0.80x | 0.86x | 0.78x | 0.93x | 0.70x | 1.24x | 1.17x | 0.56x |
| Quick Ratio | 0.85x | 0.90x | 0.94x | 0.88x | 0.79x | 0.80x | 0.78x | 0.77x | 0.85x | 0.87x | 0.97x | 2.30x | 0.79x | 0.84x | 0.76x | 0.91x | 0.68x | 1.21x | 1.14x | 0.53x |
| Cash Conversion Cycle | -324.12 | -285.72 | -835.29 | - | -852.27 | -788.21 | -640.91 | -772.75 | -840.43 | -863.92 | -777.64 | -754.92 | -710.56 | -967.16 | -1.24K | -1.24K | -1.32K | -307.62 | -307.81 | -319.83 |
| Total Non-Current Liabilities | 4.11B | 4.15B | 4.13B | 3.98B | 3.12B | 3.15B | 3.12B | 3.13B | 3.65B | 3.56B | 8.12B | 8.51B | 8.44B | 9.67B | 9.13B | 9.99B | 8.8B | 10.03B | 9.47B | 9.05B |
| Long-Term Debt | 4B | 4.04B | 4.03B | 3.85B | 3.01B | 3.03B | 2.98B | 2.99B | 3.53B | 3.46B | 3.24B | 3.79B | 4.17B | 5.34B | 8.96B | 9.44B | 8.28B | 9.4B | 8.62B | 8.72B |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 7.74B | 7.58B | 7.17B | 6.97B | 6.86B | 6.78B | 6.22B | 6.2B | 6.13B | 7.15B | 11.31B | 12.02B | 13.31B | 14.32B | 15.17B | 16.13B | 13.37B | 14.42B | 13.74B | 13.53B |
| Total Debt | 5.42B | 5.14B | 5.14B | 4.91B | 4.7B | 4.69B | 4.33B | 4.34B | 4.17B | 5.16B | 4.85B | 5.66B | 6.31B | 8.18B | 12.11B | 12.58B | 10.03B | 10.65B | 9.94B | 9.93B |
| Net Debt | 3.67B | 3.41B | 3.48B | 3.63B | 2.93B | 3B | 3.31B | 3.48B | 3.34B | 3.25B | 2.6B | 3.2B | 3.27B | 5.07B | 8.81B | 10.24B | 8.05B | 8.39B | 8.44B | 8.74B |
| Debt / Equity | 2.91x | 3.15x | 3.12x | 3.28x | 3.39x | 3.73x | 3.40x | 3.86x | 3.66x | 4.81x | 3.81x | 5.73x | 6.87x | 10.66x | 17.85x | 8.05x | 8.72x | 7.07x | 7.78x | 8.10x |
| Debt / EBITDA | 10.44x | 9.79x | 19.48x | 4.84x | 10.76x | 11.37x | 7.45x | 9.47x | 10.83x | 14.65x | 10.87x | 13.29x | 16.34x | 12.38x | 23.06x | 29.88x | 23.60x | 11.57x | 11.23x | 12.34x |
| Net Debt / EBITDA | 7.07x | 6.50x | 13.18x | 3.57x | 6.70x | 7.28x | 5.69x | 7.59x | 8.67x | 9.24x | 5.82x | 7.52x | 8.46x | 7.68x | 16.78x | 24.33x | 18.95x | 9.12x | 9.53x | 10.86x |
| Interest Coverage | 2.05x | 2.21x | -0.63x | 2.51x | 1.96x | 1.83x | 2.08x | 2.39x | 1.53x | 1.55x | 1.95x | 1.65x | 1.46x | 2.59x | 0.80x | 1.89x | 1.65x | 2.38x | 2.24x | 2.28x |
| Total Equity | 1.86B | 1.63B | 1.65B | 1.5B | 1.39B | 1.26B | 1.27B | 1.13B | 1.14B | 1.07B | 1.27B | 988M | 918M | 767M | 678M | 1.56B | 1.15B | 1.5B | 1.28B | 1.23B |
| Equity Growth % | 34.22% | 29.97% | 29.26% | 32.98% | 21.75% | 17.37% | 0.24% | 13.87% | 24.18% | 39.63% | 87.46% | -36.79% | -20.17% | -49.04% | -46.91% | 27.49% | 0.26% | 48.57% | 53.49% | -27.97% |
| Book Value per Share | 26.09 | 30.91 | 23.95 | 21.34 | 19.80 | 17.80 | 18.01 | 15.92 | 16.23 | 14.49 | 18.10 | 14.09 | 13.09 | 10.94 | 9.68 | 22.99 | 16.44 | 22.30 | 19.82 | 18.39 |
| Total Shareholders' Equity | 1.47B | 1.34B | 1.38B | 1.31B | 1.21B | 1.1B | 1.07B | 911M | 903M | 858M | 1.07B | 782M | 701M | 569M | 489M | 591M | 227M | 586M | 379M | 401M |
| Common Stock | 2M | 0 | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M | 2M |
| Retained Earnings | -2.9B | 0 | -2.97B | -2.84B | -3.43B | -3.53B | -3.61B | -3.82B | -3.88B | -3.94B | -374M | -819M | -1.07B | -1.41B | -1.64B | -1.13B | -1.22B | -1.25B | -1.55B | -1.69B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -8.39B | 0 | -8.41B | -8.61B | -8.12B | -8.13B | -8.07B | -8.03B | -7.97B | -7.96B | -11.31B | -11.15B | -10.98B | -10.78B | -10.62B | -11.04B | -11.31B | -10.92B | -10.83B | -10.66B |
| Minority Interest | 395M | 293.95M | 264.97M | 190M | 181M | 158M | 203M | 214M | 237M | 213M | 205M | 206M | 217M | 198M | 189M | 972M | 923M | 919M | 898M | 825M |