NBIS
Nebius Group N.V.
There isn't enough reported data to score NBIS yet.
VEON
VEON Ltd.
There isn't enough reported data to score VEON yet.
NBIS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Healthy |
NBIS's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
VEON Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| Unavailable | |
| Healthy |
VEON's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
NBIS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 68x | $22.45 | -83% |
| Fair | 114x | $37.67 | -71% |
| Current | 390x | $129 | — |
| Expensive | 666x | $220 | +71% |
Historical ranges are pointers, not guarantees.
NBIS's PE is 390x, but its earnings don't support one, so it isn't a reliable read right now.
VEON PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.5x | $63.62 | -15% |
| Fair | 8.5x | $83.40 | +11% |
| Current | 9.8x | $75.15 | — |
| Expensive | 10x | $103 | +37% |
Historical ranges are pointers, not guarantees.
VEON has the edge over NBIS in the historical PE scenario, which offers more potential upside but is not a forecast.
NBIS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect NBIS's revenue to grow and its profitability to improve, with its earnings holding steady. However, they disagree widely on these estimates.
VEON Forward outlook
There aren't enough analyst estimates for VEON to show an outlook.
NBIS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $0.33 | +$2.61 |
| Q4 2024 | -$2.28 | -456% |
| Q4 2023 | $0.64 | -36% |
| Q4 2022 | $1.00 | +$1.49 |
| Q4 2021 | -$0.49 | -156% |
| Q4 2020 | $0.87 | +89% |
| Q4 2019 | $0.46 | -73% |
| Q4 2018 | $1.71 | +434% |
NBIS has returned to profit: it earned $0.33 per share over the past year, after losing money the year before.
VEON Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $9.82 | +409% |
| Q2 2025 | $10.07 | +$10.08 |
| Q1 2025 | $2.53 | -2.3% |
| Q4 2024 | $1.93 | -71% |
| Q4 2023 | $6.67 | +$8.92 |
| Q4 2022 | -$2.25 | -123% |
| Q4 2021 | $9.75 | +$14.73 |
| Q4 2020 | -$4.98 | -155% |
VEON has the edge over NBIS in the latest year-over-year earnings comparison.
NBIS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2023 | $9.7B | +53% |
| Q4 2022 | $6.3B | +46% |
| Q4 2021 | $4.3B | +63% |
| Q4 2020 | $2.6B | +24% |
| Q4 2019 | $2.1B | +37% |
| Q4 2018 | $1.5B | +36% |
| Q4 2017 | $1.1B | +24% |
| Q4 2016 | $917M | +27% |
NBIS's revenue is growing: $530M last quarter, down 80% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | -115% | -112 points |
| Q4 2023 | 3.6% | -11 points |
| Q4 2022 | 2.5% | -14 points |
| Q4 2021 | -3.7% | -18 points |
| Q4 2020 | 7.4% | -9.5 points |
| Q4 2019 | 14% | -2 points |
| Q4 2018 | 16% | -14 points |
| Q4 2017 | 14% | -19 points |
NBIS's operating margin was −115% last quarter, down 123 points from the same quarter a year ago, near the bottom of its range since 2011.
VEON Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $2.3B | +12% |
| Q2 2025 | $1.1B | +5.8% |
| Q1 2025 | $1B | +8.9% |
| Q4 2024 | $2B | +7.2% |
| Q2 2024 | $1B | +12% |
| Q1 2024 | $942M | +6.6% |
| Q4 2023 | $1.9B | -49% |
| Q4 2022 | $3.8B | -52% |
VEON has the edge over NBIS in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | 17% | -10 points |
| Q2 2025 | 75% | +54 points |
| Q1 2025 | 23% | -2.1 points |
| Q4 2024 | 31% | +4.6 points |
| Q2 2024 | 27% | +3.9 points |
| Q1 2024 | 21% | -9.6 points |
| Q4 2023 | 25% | +5.6 points |
| Q2 2023 | 26% | +29 points |
VEON has the edge over NBIS on profitability, with a higher operating margin.
NBIS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$3.7B | -$3.1B |
| Q4 2024 | -$562.1M | -$316.2M |
| Q4 2023 | -$245.9M | -$138.9M |
| Q4 2022 | -$107M | +$319.7M |
| Q4 2021 | -$426.7M | -539% |
| Q4 2020 | $97.3M | -66% |
| Q4 2019 | $287.9M | +$289.2M |
| Q4 2018 | -$1.3M | -101% |
NBIS has burned cash in six of the last eight quarters: −$4.6B over the past year, against −$43M the year before.
VEON Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | $408M | +3.6% |
| Q2 2025 | -$48M | -167% |
| Q1 2025 | $255M | +410% |
| Q4 2024 | $394M | -17% |
| Q2 2024 | $72M | -78% |
| Q1 2024 | $50M | -86% |
| Q4 2023 | $476M | +59% |
| Q4 2022 | $299M | -48% |
VEON still generates free cash flow, though less than at its 2016 peak: $1B over the past year.
NBIS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -12% | -33.3M shares |
| 1 year | -32% | -115M shares |
| 3 years | -26% | -86.9M shares |
NBIS has the edge over VEON on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $10M |
| Q4 2021 | $84.1M |
| Q4 2020 | $122.8M |
| Q4 2019 | $17.2M |
| Q4 2018 | $121.8M |
| Q4 2014 | $101.7M |
| Q4 2013 | $102.9M |
VEON Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2459% | +1.7B shares |
| 1 year | +2439% | +1.7B shares |
| 3 years | +2488% | +1.7B shares |
| 5 years | +2464% | +1.7B shares |
| Available history | +2464% | +1.7B shares |
VEON has 1.8B diluted shares, up 2439% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | $37M |
| Q2 2025 | $44M |
| Q1 2025 | $24M |
| Q2 2024 | — |
| Q1 2024 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q2 2020 | — |
NBIS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 0.7x | Very low |
| Q4 2022 | -0.7x | Net Cash |
NBIS's net debt is less than a year of its operating earnings (EBITDA).
VEON Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2025 | 0.8x | Very low |
| Q2 2025 | 1.9x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 0.9x | Very low |
| Q2 2024 | 2.1x | Moderate |
| Q1 2024 | 2.0x | Moderate |
| Q4 2023 | 1.1x | Healthy |
| Q4 2022 | 1.8x | Healthy |
VEON's net debt is less than a year of its operating earnings (EBITDA), down from 2.0 years a year ago.
NBIS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 8.3 | Oversold |
NBIS's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
VEON Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.7 | Neutral |
| Stochastic | 70.6 | Neutral |
VEON's weekly RSI is 65 (neutral) and its Stochastic is 71 (neutral).
NBIS PE vs Communication Services Sector
| Metric | NBIS | Sector median | Relative |
|---|---|---|---|
| PE | 390x | 16x | 2,264% above |
| PE % | 62 | 24 | 38 pts above |
NBIS is trading at 390x earnings, a 2264% premium to the Communication Services sector's median of 16x, though its earnings don't support one.
VEON PE vs Communication Services Sector
| Metric | VEON | Sector median | Relative |
|---|---|---|---|
| PE | 9.8x | 16x | 41% below |
| PE % | 77 | 26 | 51 pts above |
VEON has the edge over NBIS on valuation relative to its sector.
NBIS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $179.7 | 28% below |
| 20 week MA | $199.9 | 36% below |
| 50 week MA | $163.5 | 21% below |
| 100 week MA | $110.0 | 17% above |
VEON has stronger trend alignment. NBIS is above 1 of 4 weekly averages versus VEON above 4 of 5.
VEON Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $78.4 | 4.2% below |
| 20 week MA | $66.1 | 14% above |
| 50 week MA | $57.9 | 30% above |
| 100 week MA | $52.9 | 42% above |
| 200 week MA | $37.7 | 100% above |
VEON's trend is up, with a small recent dip: it's below only its 8-week average, and 100% above its 200-week average.
NBIS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $19.6 | $27.3 | +40% |
| 2025 | $27.3 | $87.6 | +221% |
| 2026 YTD | $87.6 | $128.6 | +47% |
NBIS has the edge over VEON on returns for 2026, with the stronger performance.
VEON Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $63.3 | $40.3 | -36% |
| 2021 | $40.3 | $41.8 | +3.7% |
| 2022 | $41.8 | $11.5 | -72% |
| 2023 | $11.5 | $19.7 | +71% |
| 2024 | $19.7 | $39.0 | +98% |
| 2025 | $39.0 | $52.7 | +35% |
| 2026 YTD | $52.7 | $75.2 | +43% |
VEON has finished higher in four of the last six years, two of them by more than 50%. It's up 43% so far in 2026.