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Side-by-side financial comparison of COMERICA INC (CMA) 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 $838.0M, roughly 1.3× COMERICA INC). VEON Ltd. runs the higher net margin — 55.9% vs 21.0%, a 34.9% gap on every dollar of revenue. On growth, VEON Ltd. posted the faster year-over-year revenue change (5.8% vs 3.3%).

Comerica Incorporated is an American financial services company, headquartered in Dallas, Texas. It is the parent of Comerica Bank, a regional commercial bank with 413 branches in the U.S. states of Texas, Michigan, California, Florida and Arizona. Comerica is among the largest U.S. financial holding companies, with offices in a number of U.S. cities.

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...

CMA vs VEON — Head-to-Head

Bigger by revenue
VEON
VEON
1.3× larger
VEON
$1.1B
$838.0M
CMA
Growing faster (revenue YoY)
VEON
VEON
+2.5% gap
VEON
5.8%
3.3%
CMA
Higher net margin
VEON
VEON
34.9% more per $
VEON
55.9%
21.0%
CMA

Income Statement — Q3 FY2025 vs Q2 FY2025

Metric
CMA
CMA
VEON
VEON
Revenue
$838.0M
$1.1B
Net Profit
$176.0M
$608.0M
Gross Margin
Operating Margin
75.4%
Net Margin
21.0%
55.9%
Revenue YoY
3.3%
5.8%
Net Profit YoY
-4.3%
583.1%
EPS (diluted)
$1.35
$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
CMA
CMA
VEON
VEON
Q3 25
$838.0M
Q2 25
$849.0M
$1.1B
Q1 25
$829.0M
Q4 24
$825.0M
Q3 24
$811.0M
Q2 24
$824.0M
$1.0B
Q1 24
$784.0M
Q4 23
$192.0M
Net Profit
CMA
CMA
VEON
VEON
Q3 25
$176.0M
Q2 25
$199.0M
$608.0M
Q1 25
$172.0M
Q4 24
$170.0M
Q3 24
$184.0M
Q2 24
$206.0M
$89.0M
Q1 24
$138.0M
Q4 23
$33.0M
Operating Margin
CMA
CMA
VEON
VEON
Q3 25
Q2 25
75.4%
Q1 25
Q4 24
Q3 24
Q2 24
27.1%
Q1 24
Q4 23
Net Margin
CMA
CMA
VEON
VEON
Q3 25
21.0%
Q2 25
23.4%
55.9%
Q1 25
20.7%
Q4 24
20.6%
Q3 24
22.7%
Q2 24
25.0%
8.7%
Q1 24
17.6%
Q4 23
17.2%
EPS (diluted)
CMA
CMA
VEON
VEON
Q3 25
$1.35
Q2 25
$1.42
$0.34
Q1 25
$1.25
Q4 24
$1.22
Q3 24
$1.33
Q2 24
$1.49
$0.04
Q1 24
$0.98
Q4 23
$0.20

Balance Sheet & Financial Strength

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

Metric
CMA
CMA
VEON
VEON
Cash + ST InvestmentsLiquidity on hand
$1.3B
Total DebtLower is stronger
$5.4B
Stockholders' EquityBook value
$7.4B
$1.5B
Total Assets
$77.4B
$8.5B
Debt / EquityLower = less leverage
0.73×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMA
CMA
VEON
VEON
Q3 25
Q2 25
$1.3B
Q1 25
Q4 24
Q3 24
Q2 24
$862.0M
Q1 24
Q4 23
Total Debt
CMA
CMA
VEON
VEON
Q3 25
$5.4B
Q2 25
$5.8B
Q1 25
$5.7B
Q4 24
$6.7B
Q3 24
$6.8B
Q2 24
$7.1B
Q1 24
$7.1B
Q4 23
$6.2B
Stockholders' Equity
CMA
CMA
VEON
VEON
Q3 25
$7.4B
Q2 25
$6.9B
$1.5B
Q1 25
$7.1B
Q4 24
$6.5B
Q3 24
$7.4B
Q2 24
$6.2B
$1.1B
Q1 24
$6.0B
Q4 23
$6.4B
Total Assets
CMA
CMA
VEON
VEON
Q3 25
$77.4B
Q2 25
$78.0B
$8.5B
Q1 25
$77.6B
Q4 24
$79.3B
Q3 24
$79.7B
Q2 24
$79.6B
$7.3B
Q1 24
$79.4B
Q4 23
$85.8B
Debt / Equity
CMA
CMA
VEON
VEON
Q3 25
0.73×
Q2 25
0.84×
Q1 25
0.81×
Q4 24
1.02×
Q3 24
0.92×
Q2 24
1.15×
Q1 24
1.18×
Q4 23
0.97×

Cash Flow & Capital Efficiency

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

Metric
CMA
CMA
VEON
VEON
Operating Cash FlowLast quarter
$-270.0M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
-1.53×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMA
CMA
VEON
VEON
Q3 25
$-270.0M
Q2 25
$476.0M
Q1 25
$273.0M
Q4 24
$601.0M
Q3 24
$1.0B
Q2 24
$111.0M
Q1 24
$-205.0M
Q4 23
$1.1B
Cash Conversion
CMA
CMA
VEON
VEON
Q3 25
-1.53×
Q2 25
2.39×
Q1 25
1.59×
Q4 24
3.54×
Q3 24
5.70×
Q2 24
0.54×
Q1 24
-1.49×
Q4 23
34.00×

Financial Flow Comparison

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

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