VEON vs. TIGO
Compare and contrast key facts about VEON Ltd. (VEON) and Millicom International Cellular S.A. (TIGO).
Performance
VEON vs. TIGO - Performance Comparison
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VEON vs. TIGO - 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% |
TIGO Millicom International Cellular S.A. | 40.75% | 152.35% | 38.94% | 42.52% | -55.61% | -26.64% | -19.59% | -20.28% | -1.32% | 66.94% |
Fundamentals
VEON:
$2.50B
TIGO:
$12.92B
VEON:
$8.32
TIGO:
$7.84
VEON:
5.68
TIGO:
9.81
VEON:
2.27
TIGO:
0.03
VEON:
0.68
TIGO:
2.22
VEON:
1.87
TIGO:
3.55
VEON:
$4.41B
TIGO:
$5.82B
VEON:
$3.68B
TIGO:
$4.21B
VEON:
$1.61B
TIGO:
$3.40B
Returns By Period
In the year-to-date period, VEON achieves a -10.06% return, which is significantly lower than TIGO's 40.75% return. Over the past 10 years, VEON has underperformed TIGO with an annualized return of -5.00%, while TIGO has yielded a comparatively higher 7.02% 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%
TIGO
- 1D
- 2.60%
- 1M
- 2.32%
- YTD
- 40.75%
- 6M
- 70.80%
- 1Y
- 183.85%
- 3Y*
- 67.45%
- 5Y*
- 18.20%
- 10Y*
- 7.02%
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Return for Risk
VEON vs. TIGO — Risk / Return Rank
VEON
TIGO
VEON vs. TIGO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VEON Ltd. (VEON) and Millicom International Cellular S.A. (TIGO). 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 | TIGO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.12 | 5.24 | -5.11 |
Sortino ratioReturn per unit of downside risk | 0.60 | 4.92 | -4.32 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.70 | -0.62 |
Calmar ratioReturn relative to maximum drawdown | 0.26 | 16.45 | -16.19 |
Martin ratioReturn relative to average drawdown | 0.54 | 46.41 | -45.88 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VEON | TIGO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 5.24 | -5.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.46 | -0.44 |
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 | 0.01 | +0.03 |
Correlation
The correlation between VEON and TIGO is 0.20, 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. TIGO - Dividend Comparison
VEON has not paid dividends to shareholders, while TIGO's dividend yield for the trailing twelve months is around 5.53%.
| 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% |
TIGO Millicom International Cellular S.A. | 5.53% | 8.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.47% | 4.15% | 3.92% | 6.23% | 0.00% |
Drawdowns
VEON vs. TIGO - Drawdown Comparison
The maximum VEON drawdown since its inception was -98.74%, which is greater than TIGO's maximum drawdown of -88.26%. Use the drawdown chart below to compare losses from any high point for VEON and TIGO.
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Drawdown Indicators
| VEON | TIGO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.74% | -88.26% | -10.48% |
Max Drawdown (1Y)Largest decline over 1 year | -32.15% | -11.05% | -21.10% |
Max Drawdown (5Y)Largest decline over 5 years | -88.66% | -76.88% | -11.78% |
Max Drawdown (10Y)Largest decline over 10 years | -92.52% | -84.51% | -8.01% |
Current DrawdownCurrent decline from peak | -90.95% | -1.28% | -89.67% |
Average DrawdownAverage peak-to-trough decline | -62.42% | -46.26% | -16.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.73% | 3.92% | +11.81% |
Volatility
VEON vs. TIGO - Volatility Comparison
VEON Ltd. (VEON) has a higher volatility of 25.16% compared to Millicom International Cellular S.A. (TIGO) at 11.02%. This indicates that VEON's price experiences larger fluctuations and is considered to be riskier than TIGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEON | TIGO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.16% | 11.02% | +14.14% |
Volatility (6M)Calculated over the trailing 6-month period | 36.13% | 27.36% | +8.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.14% | 35.35% | +22.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.87% | 39.38% | +29.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.90% | 38.27% | +17.63% |
Financials
VEON vs. TIGO - Financials Comparison
This section allows you to compare key financial metrics between VEON Ltd. and Millicom International Cellular S.A.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
VEON vs. TIGO - Profitability Comparison
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%.
TIGO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Millicom International Cellular S.A. reported a gross profit of 1.29B and revenue of 1.65B. Therefore, the gross margin over that period was 77.8%.
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%.
TIGO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Millicom International Cellular S.A. reported an operating income of 469.00M and revenue of 1.65B, resulting in an operating margin of 28.4%.
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%.
TIGO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Millicom International Cellular S.A. reported a net income of 252.00M and revenue of 1.65B, resulting in a net margin of 15.3%.