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Side-by-side financial comparison of AvalonBay Communities (AVB) and VEON Ltd. (VEON). Click either name above to swap in a different company.

VEON Ltd. is the larger business by last-quarter revenue ($1.1B vs $767.9M, roughly 1.4× AvalonBay Communities). AvalonBay Communities runs the higher net margin — 9040.6% vs 55.9%, a 8984.6% gap on every dollar of revenue. On growth, VEON Ltd. posted the faster year-over-year revenue change (5.8% vs 3.7%).

AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.

VEON Ltd., also known as VEON Group, is a multinational telecommunication and digital services company. Headquartered in Dubai, the company is publicly traded on the U.S.-based NASDAQ stock exchange. VEON operates in six markets in Europe and Asia, including Bangladesh, Kazakhstan, Kyrgyzstan, Pakistan, Ukraine and Uzbekistan. Specific brands include Banglalink in Bangladesh, Jazz in Pakistan, Kyivstar in Ukraine, and units operating in Kazakhstan, Kyrgyzstan, and Uzbekistan under the Beeline...

AVB vs VEON — Head-to-Head

Bigger by revenue
VEON
VEON
1.4× larger
VEON
$1.1B
$767.9M
AVB
Growing faster (revenue YoY)
VEON
VEON
+2.2% gap
VEON
5.8%
3.7%
AVB
Higher net margin
AVB
AVB
8984.6% more per $
AVB
9040.6%
55.9%
VEON

Income Statement — Q4 FY2025 vs Q2 FY2025

Metric
AVB
AVB
VEON
VEON
Revenue
$767.9M
$1.1B
Net Profit
$166.0M
$608.0M
Gross Margin
Operating Margin
64.2%
75.4%
Net Margin
9040.6%
55.9%
Revenue YoY
3.7%
5.8%
Net Profit YoY
-41.2%
583.1%
EPS (diluted)
$1.18
$0.34

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AVB
AVB
VEON
VEON
Q4 25
$767.9M
Q3 25
$766.8M
Q2 25
$760.2M
$1.1B
Q1 25
$745.9M
Q4 24
$740.5M
Q3 24
$734.3M
Q2 24
$726.0M
$1.0B
Q1 24
$712.9M
Net Profit
AVB
AVB
VEON
VEON
Q4 25
$166.0M
Q3 25
$381.3M
Q2 25
$268.7M
$608.0M
Q1 25
$236.6M
Q4 24
$282.1M
Q3 24
$372.5M
Q2 24
$253.9M
$89.0M
Q1 24
$173.4M
Operating Margin
AVB
AVB
VEON
VEON
Q4 25
64.2%
Q3 25
65.7%
Q2 25
67.6%
75.4%
Q1 25
68.5%
Q4 24
63.1%
Q3 24
65.4%
Q2 24
66.6%
27.1%
Q1 24
67.2%
Net Margin
AVB
AVB
VEON
VEON
Q4 25
9040.6%
Q3 25
49.7%
Q2 25
35.3%
55.9%
Q1 25
31.7%
Q4 24
38.1%
Q3 24
50.7%
Q2 24
35.0%
8.7%
Q1 24
24.3%
EPS (diluted)
AVB
AVB
VEON
VEON
Q4 25
$1.18
Q3 25
$2.68
Q2 25
$1.88
$0.34
Q1 25
$1.66
Q4 24
$1.99
Q3 24
$2.61
Q2 24
$1.78
$0.04
Q1 24
$1.22

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AVB
AVB
VEON
VEON
Cash + ST InvestmentsLiquidity on hand
$187.2M
$1.3B
Total DebtLower is stronger
$9.3B
Stockholders' EquityBook value
$11.6B
$1.5B
Total Assets
$22.2B
$8.5B
Debt / EquityLower = less leverage
0.80×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AVB
AVB
VEON
VEON
Q4 25
$187.2M
Q3 25
$123.3M
Q2 25
$102.8M
$1.3B
Q1 25
$53.3M
Q4 24
$108.6M
Q3 24
$552.4M
Q2 24
$545.8M
$862.0M
Q1 24
$287.9M
Total Debt
AVB
AVB
VEON
VEON
Q4 25
$9.3B
Q3 25
$8.7B
Q2 25
$8.7B
Q1 25
$8.3B
Q4 24
$8.1B
Q3 24
$8.4B
Q2 24
$8.4B
Q1 24
$8.0B
Stockholders' Equity
AVB
AVB
VEON
VEON
Q4 25
$11.6B
Q3 25
$11.9B
Q2 25
$11.9B
$1.5B
Q1 25
$11.9B
Q4 24
$11.9B
Q3 24
$11.9B
Q2 24
$11.7B
$1.1B
Q1 24
$11.7B
Total Assets
AVB
AVB
VEON
VEON
Q4 25
$22.2B
Q3 25
$21.9B
Q2 25
$21.8B
$8.5B
Q1 25
$21.2B
Q4 24
$21.0B
Q3 24
$21.3B
Q2 24
$21.0B
$7.3B
Q1 24
$20.6B
Debt / Equity
AVB
AVB
VEON
VEON
Q4 25
0.80×
Q3 25
0.73×
Q2 25
0.72×
Q1 25
0.70×
Q4 24
0.68×
Q3 24
0.70×
Q2 24
0.71×
Q1 24
0.68×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AVB
AVB
VEON
VEON
Operating Cash FlowLast quarter
$1.7B
Free Cash FlowOCF − Capex
$1.4B
FCF MarginFCF / Revenue
183.5%
Capex IntensityCapex / Revenue
34.1%
Cash ConversionOCF / Net Profit
10.07×
TTM Free Cash FlowTrailing 4 quarters
$2.5B

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AVB
AVB
VEON
VEON
Q4 25
$1.7B
Q3 25
$477.0M
Q2 25
$377.8M
Q1 25
$415.9M
Q4 24
$1.6B
Q3 24
$486.2M
Q2 24
$380.0M
Q1 24
$412.9M
Free Cash Flow
AVB
AVB
VEON
VEON
Q4 25
$1.4B
Q3 25
$402.2M
Q2 25
$317.1M
Q1 25
$367.5M
Q4 24
$1.4B
Q3 24
$434.2M
Q2 24
$333.0M
Q1 24
$375.4M
FCF Margin
AVB
AVB
VEON
VEON
Q4 25
183.5%
Q3 25
52.5%
Q2 25
41.7%
Q1 25
49.3%
Q4 24
191.0%
Q3 24
59.1%
Q2 24
45.9%
Q1 24
52.7%
Capex Intensity
AVB
AVB
VEON
VEON
Q4 25
34.1%
Q3 25
9.8%
Q2 25
8.0%
Q1 25
6.5%
Q4 24
26.1%
Q3 24
7.1%
Q2 24
6.5%
Q1 24
5.3%
Cash Conversion
AVB
AVB
VEON
VEON
Q4 25
10.07×
Q3 25
1.25×
Q2 25
1.41×
Q1 25
1.76×
Q4 24
5.70×
Q3 24
1.31×
Q2 24
1.50×
Q1 24
2.38×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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