WallStSmart

Spotify Technology SA (SPOT)vsVEON Ltd (VEON)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Spotify Technology SA generates 283% more annual revenue ($17.53B vs $4.57B). SPOT leads profitability with a 15.4% profit margin vs 11.6%. SPOT appears more attractively valued with a PEG of 1.55. VEON earns a higher WallStSmart Score of 64/100 (C+).

SPOT

Buy

64

out of 100

Grade: C+

Growth: 8.0Profit: 8.5Value: 3.3Quality: 8.0
Piotroski: 4/9Altman Z: 2.66

VEON

Buy

64

out of 100

Grade: C+

Growth: 6.0Profit: 8.5Value: 6.3Quality: 3.0
Piotroski: 4/9Altman Z: 0.60
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

SPOTSignificantly Overvalued (-64.9%)

Margin of Safety

-64.9%

Fair Value

$295.49

Current Price

$496.95

$201.46 premium

UndervaluedFair: $295.49Overvalued

Intrinsic value data unavailable for VEON.

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SPOT4 strengths · Avg: 9.8/10
Return on EquityProfitability
33.8%10/10

Every $100 of equity generates 34 in profit

EPS GrowthGrowth
222.4%10/10

Earnings expanding 222.4% YoY

Debt/EquityHealth
0.0610/10

Conservative balance sheet, low leverage

Market CapQuality
$93.66B9/10

Large-cap with strong market position

VEON5 strengths · Avg: 8.8/10
P/E RatioValuation
7.0x10/10

Attractively priced relative to earnings

Return on EquityProfitability
36.3%10/10

Every $100 of equity generates 36 in profit

Price/BookValuation
2.4x8/10

Reasonable price relative to book value

Operating MarginProfitability
25.7%8/10

Strong operational efficiency at 25.7%

Revenue GrowthGrowth
17.1%8/10

17.1% revenue growth

Areas to Watch

SPOT3 concerns · Avg: 4.0/10
PEG RatioValuation
1.554/10

Expensive relative to growth rate

P/E RatioValuation
30.8x4/10

Premium valuation, high expectations priced in

Price/BookValuation
10.4x4/10

Trading at 10.4x book value

VEON4 concerns · Avg: 2.8/10
PEG RatioValuation
2.234/10

Expensive relative to growth rate

EPS GrowthGrowth
1.6%4/10

1.6% earnings growth

Altman Z-ScoreHealth
0.602/10

Distress zone — elevated risk

Debt/EquityHealth
3.691/10

Elevated debt levels

Comparative Analysis Report

WallStSmart Research

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, EPS Growth, Debt/Equity. Profitability is solid with margins at 15.4% and operating margin at 15.8%.

Bull Case : VEON

The strongest argument for VEON centers on P/E Ratio, Return on Equity, Price/Book. Revenue growth of 17.1% demonstrates continued momentum.

Bear Case : SPOT

The primary concerns for SPOT are PEG Ratio, P/E Ratio, Price/Book.

Bear Case : VEON

The primary concerns for VEON are PEG Ratio, EPS Growth, Altman Z-Score. Debt-to-equity of 3.69 is elevated, increasing financial risk.

Key Dynamics to Monitor

SPOT profiles as a mature stock while VEON is a growth play — different risk/reward profiles.

VEON carries more volatility with a beta of 1.62 — expect wider price swings.

VEON is growing revenue faster at 17.1% — sustainability is the question.

SPOT generates stronger free cash flow (845M), providing more financial flexibility.

Bottom Line

SPOT scores higher overall (64/100 vs 64/100), backed by strong 15.4% margins. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Spotify Technology SA

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Spotify Technology SA, provides audio streaming services worldwide. The company is headquartered in Luxembourg, Luxembourg.

VEON Ltd

COMMUNICATION SERVICES · TELECOM SERVICES · USA

VEON Ltd., provides fixed line and mobile telecommunications services. The company is headquartered in Amsterdam, the Netherlands.

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