Veon (VEON) Operating Margin (2011 - 2026)
Veon (VEON) posted Operating Margin of 25.48% for Q1 2026, down 66.23% on a QoQ basis from 75.44% in Q2 2025, and up 218.0% year-over-year from 8.01% in Q1 2025.
Veon (VEON) Operating Margin (2011 - 2026) Analysis & Trends
Veon's Operating Margin history runs 16 years deep, the most recent figure standing at 25.48% for Q1 2026.
- Quarterly Operating Margin rose 218.0% year-over-year to 25.48% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 34.9% (up 1012.0% YoY) and the FY2025 annual result came in at 32.71%, up 499.0% from the prior year.
- Operating Margin was 25.48% for Q1 2026 at Veon, down from 75.44% in the prior quarter.
- Across five years, Operating Margin topped out at 75.44% in Q2 2025 and bottomed at 23.29% in Q1 2025.
- A 5-year average of 30.45% and a median of 24.83% in 2023 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin slumped 51 bps — and 2025, when it surged 4837 bps.
- Veon's Operating Margin stood at 23.64% in 2022, then climbed by 5 bps to 24.83% in 2023, then dropped by 2 bps to 24.33% in 2024, then soared by 210 bps to 75.44% in 2025, then sank by 66 bps to 25.48% in 2026.
- Business Quant data shows VEON's Operating Margin at 25.48% in Q1 2026, 75.44% in Q2 2025, and 23.29% in Q1 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | America Movil Sab De Cv | 1,543.97 Bn | 1,543.97 Bn | 7.08 Bn | 42.45% |
| 2 | Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk | 1,427.96 Bn | -8,564.04 Bn | - | - |
| 3 | Grupo Televisa, S.A.B | 958.85 Bn | 957.15 Bn | 317.18 Mn | 52.77% |
| 4 | Chunghwa Telecom | 334.17 Bn | 331.99 Bn | 719.92 Mn | 21.85% |
| 5 | Verizon Communications | 198.41 Bn | 190.05 Bn | 29.14 Bn | 23.93% |
| 6 | T-Mobile US | 192.12 Bn | 189.29 Bn | 17.74 Bn | 24.09% |
| 7 | At&T | 169.04 Bn | 151.47 Bn | 25.25 Bn | 22.30% |
| 8 | Veon | 90.84 Bn | 90.84 Bn | - | 25.48% |
| 9 | Tim | 50.18 Bn | 50.03 Bn | 677.20 Mn | 82.48% |
| 10 | Telefonica Brasil | 45.44 Bn | 43.70 Bn | 1.32 Bn | 51.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 25.48% |
| Jun 30, 2025 | 75.44% |
| Mar 31, 2025 | 23.29% |
| Dec 31, 2024 | 24.33% |
| Jun 30, 2024 | 27.07% |
| Dec 31, 2023 | 24.83% |
| Jun 30, 2023 | 26.42% |
| Dec 31, 2022 | 23.64% |
| Jun 30, 2022 | 23.51% |
| Dec 31, 2021 | 1.82% |
| Sep 30, 2021 | 20.60% |
| Jun 30, 2021 | 18.66% |
| Mar 31, 2021 | 19.00% |
| Dec 31, 2020 | -27.68% |
| Sep 30, 2020 | -22.16% |
| Jun 30, 2020 | 17.28% |
| Mar 31, 2020 | 19.41% |
| Dec 31, 2019 | 24.76% |
| Sep 30, 2019 | 17.27% |
| Jun 30, 2019 | 20.52% |