WallStSmart

Spotify Technology SA (SPOT)vsVEON Ltd (VEON)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Spotify Technology SA generates 298% more annual revenue ($17.53B vs $4.40B). SPOT leads profitability with a 15.4% profit margin vs 12.1%. SPOT appears more attractively valued with a PEG of 1.83. VEON earns a higher WallStSmart Score of 72/100 (B).

SPOT

Buy

64

out of 100

Grade: C+

Growth: 8.0Profit: 8.5Value: 4.0Quality: 7.5
Piotroski: 4/9Altman Z: 2.66

VEON

Strong Buy

72

out of 100

Grade: B

Growth: 8.0Profit: 8.5Value: 5.3Quality: 3.3
Piotroski: 3/9Altman Z: 0.37
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

SPOTSignificantly Overvalued (-44.3%)

Margin of Safety

-44.3%

Fair Value

$337.63

Current Price

$417.83

$80.20 premium

UndervaluedFair: $337.63Overvalued
VEONSignificantly Overvalued (-72.4%)

Margin of Safety

-72.4%

Fair Value

$32.20

Current Price

$49.50

$17.30 premium

UndervaluedFair: $32.20Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

SPOT4 strengths · Avg: 9.5/10
Return on EquityProfitability
38.0%10/10

Every $100 of equity generates 38 in profit

EPS GrowthGrowth
222.4%10/10

Earnings expanding 222.4% YoY

Market CapQuality
$87.44B9/10

Large-cap with strong market position

Debt/EquityHealth
0.289/10

Conservative balance sheet, low leverage

VEON6 strengths · Avg: 9.0/10
P/E RatioValuation
6.7x10/10

Attractively priced relative to earnings

Return on EquityProfitability
40.9%10/10

Every $100 of equity generates 41 in profit

EPS GrowthGrowth
750.0%10/10

Earnings expanding 750.0% YoY

Price/BookValuation
2.5x8/10

Reasonable price relative to book value

Operating MarginProfitability
27.6%8/10

Strong operational efficiency at 27.6%

Revenue GrowthGrowth
17.3%8/10

17.3% revenue growth

Areas to Watch

SPOT3 concerns · Avg: 4.0/10
PEG RatioValuation
1.834/10

Expensive relative to growth rate

P/E RatioValuation
28.2x4/10

Moderate valuation

Price/BookValuation
8.8x4/10

Trading at 8.8x book value

VEON3 concerns · Avg: 3.0/10
PEG RatioValuation
2.234/10

Expensive relative to growth rate

Piotroski F-ScoreQuality
3/93/10

Weak financial health signals

Altman Z-ScoreHealth
0.372/10

Distress zone — elevated risk

Comparative Analysis Report

WallStSmart Research

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, EPS Growth, Market Cap. 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, EPS Growth. Revenue growth of 17.3% 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, Piotroski F-Score, Altman Z-Score.

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 1.61 — expect wider price swings.

VEON is growing revenue faster at 17.3% — sustainability is the question.

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

Bottom Line

VEON scores higher overall (72/100 vs 64/100) and 17.3% revenue growth. Both earn "Strong 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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