VEON vs. TDS

Last updated Apr 2, 2026

Compare and contrast key facts about VEON Ltd. (VEON) and Telephone and Data Systems, Inc. (TDS).

Performance

VEON vs. TDS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VEON Ltd. (VEON) and Telephone and Data Systems, Inc. (TDS). The values are adjusted to include any dividend payments, if applicable.

VEON vs. TDS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VEON VEON Ltd.	-10.06%	31.10%	103.55%	60.82%	-71.35%	13.25%	-37.09%	18.88%	-34.17%	5.59%
TDS Telephone and Data Systems, Inc.	39.68%	20.73%	89.02%	86.26%	-45.27%	12.04%	-24.32%	-19.98%	19.58%	-1.46%

Fundamentals

Market Cap VEON : $2.50B TDS : $5.19B
EPS VEON : $8.32 TDS : -$0.05
PS Ratio VEON : 0.68 TDS : 1.72
PB Ratio VEON : 1.87 TDS : 0.98
Total Revenue (TTM) VEON : $4.41B TDS : $2.98B
Gross Profit (TTM) VEON : $3.68B TDS : $1.47B
EBITDA (TTM) VEON : $1.61B TDS : $828.61M

Returns By Period

In the year-to-date period, VEON achieves a -10.06% return, which is significantly lower than TDS's 39.68% return. Over the past 10 years, VEON has underperformed TDS with an annualized return of -5.00%, while TDS has yielded a comparatively higher 9.62% annualized return.

VEON

• 1D: 2.12%
• 1M: -15.63%
• YTD: -10.06%
• 6M: -10.45%
• 1Y: 7.07%
• 3Y*: 38.70%
• 5Y*: 1.45%
• 10Y*: -5.00%

TDS

• 1D: 4.85%
• 1M: -1.05%
• YTD: 39.68%
• 6M: 45.50%
• 1Y: 46.57%
• 3Y*: 79.90%
• 5Y*: 23.61%
• 10Y*: 9.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

VEON vs. TDS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VEON

VEON Risk / Return Rank: 45
VEON Sharpe Ratio Rank: 45
VEON Sortino Ratio Rank: 44
VEON Omega Ratio Rank: 44
VEON Calmar Ratio Rank: 48
VEON Martin Ratio Rank: 47

TDS

TDS Risk / Return Rank: 79
TDS Sharpe Ratio Rank: 76
TDS Sortino Ratio Rank: 79
TDS Omega Ratio Rank: 77
TDS Calmar Ratio Rank: 81
TDS Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VEON vs. TDS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VEON Ltd. (VEON) and Telephone and Data Systems, Inc. (TDS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	VEON	TDS	Difference
Sharpe ratio Return per unit of total volatility	0.12	1.10	-0.98
Sortino ratio Return per unit of downside risk	0.60	2.11	-1.52
Omega ratio Gain probability vs. loss probability	1.08	1.27	-0.19
Calmar ratio Return relative to maximum drawdown	0.26	2.45	-2.19
Martin ratio Return relative to average drawdown	0.54	6.51	-5.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEON vs. TDS - Sharpe Ratio Comparison

The current VEON Sharpe Ratio is 0.12, which is lower than the TDS Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of VEON and TDS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VEON	TDS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.10	-0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.02	0.37	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.09	0.18	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.04	0.12	-0.08

Correlation

The correlation between VEON and TDS is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VEON vs. TDS - Dividend Comparison

VEON has not paid dividends to shareholders, while TDS's dividend yield for the trailing twelve months is around 23.58%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VEON VEON Ltd.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	7.62%	9.58%	9.47%	5.97%	0.68%	0.80%
TDS Telephone and Data Systems, Inc.	23.58%	0.39%	0.91%	4.03%	6.86%	3.47%	3.66%	2.60%	1.97%	2.23%	2.05%	2.18%

Drawdowns

VEON vs. TDS - Drawdown Comparison

The maximum VEON drawdown since its inception was -98.74%, which is greater than TDS's maximum drawdown of -88.89%. Use the drawdown chart below to compare losses from any high point for VEON and TDS.

Drawdown Indicators

	VEON	TDS	Difference
Max Drawdown Largest peak-to-trough decline	-98.74%	-88.89%	-9.85%
Max Drawdown (1Y) Largest decline over 1 year	-32.15%	-19.69%	-12.46%
Max Drawdown (5Y) Largest decline over 5 years	-88.66%	-72.54%	-16.12%
Max Drawdown (10Y) Largest decline over 10 years	-92.52%	-78.98%	-13.54%
Current Drawdown Current decline from peak	-90.95%	-7.16%	-83.79%
Average Drawdown Average peak-to-trough decline	-62.42%	-47.53%	-14.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.73%	7.43%	+8.30%

Volatility

VEON vs. TDS - Volatility Comparison

VEON Ltd. (VEON) has a higher volatility of 25.16% compared to Telephone and Data Systems, Inc. (TDS) at 9.05%. This indicates that VEON's price experiences larger fluctuations and is considered to be riskier than TDS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEON	TDS	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.16%	9.05%	+16.11%
Volatility (6M) Calculated over the trailing 6-month period	36.13%	30.18%	+5.95%
Volatility (1Y) Calculated over the trailing 1-year period	58.14%	42.62%	+15.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.87%	63.79%	+5.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.90%	52.57%	+3.33%

Financials

VEON vs. TDS - Profitability Comparison

The chart below illustrates the profitability comparison between VEON Ltd. and Telephone and Data Systems, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

VEON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, VEON Ltd. reported a gross profit of 815.31M and revenue of 1.18B. Therefore, the gross margin over that period was 68.9%.

TDS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Telephone and Data Systems, Inc. reported a gross profit of 8.17M and revenue of 330.71M. Therefore, the gross margin over that period was 2.5%.

VEON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, VEON Ltd. reported an operating income of 319.26M and revenue of 1.18B, resulting in an operating margin of 27.0%.

TDS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Telephone and Data Systems, Inc. reported an operating income of 8.17M and revenue of 330.71M, resulting in an operating margin of 2.5%.

VEON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, VEON Ltd. reported a net income of -31.32M and revenue of 1.18B, resulting in a net margin of -2.7%.

TDS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Telephone and Data Systems, Inc. reported a net income of 56.47M and revenue of 330.71M, resulting in a net margin of 17.1%.