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Side-by-side financial comparison of VEON Ltd. (VEON) and XPO, Inc. (XPO). Click either name above to swap in a different company.
XPO, Inc. is the larger business by last-quarter revenue ($2.0B vs $1.1B, roughly 1.9× VEON Ltd.). VEON Ltd. runs the higher net margin — 55.9% vs 2.9%, a 53.0% gap on every dollar of revenue. On growth, VEON Ltd. posted the faster year-over-year revenue change (5.8% vs 4.7%).
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...
XPO, Inc., formerly XPO Logistics, is an American transportation company that conducts less-than-truckload shipping in North America. The company has headquarters in Greenwich, Connecticut, and has 592 locations globally. XPO is the second largest provider of less-than-truckload (LTL) services in North America, operating in 99 percent of all U.S. postal codes.
VEON vs XPO — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $2.0B |
| Net Profit | $608.0M | $59.0M |
| Gross Margin | — | — |
| Operating Margin | 75.4% | 7.1% |
| Net Margin | 55.9% | 2.9% |
| Revenue YoY | 5.8% | 4.7% |
| Net Profit YoY | 583.1% | -21.3% |
| EPS (diluted) | $0.34 | $0.49 |
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.
| Q4 25 | — | $2.0B | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | $1.1B | $2.1B | ||
| Q1 25 | — | $2.0B | ||
| Q4 24 | — | $1.9B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | $1.0B | $2.1B | ||
| Q1 24 | — | $2.0B |
| Q4 25 | — | $59.0M | ||
| Q3 25 | — | $82.0M | ||
| Q2 25 | $608.0M | $106.0M | ||
| Q1 25 | — | $69.0M | ||
| Q4 24 | — | $75.0M | ||
| Q3 24 | — | $95.0M | ||
| Q2 24 | $89.0M | $150.0M | ||
| Q1 24 | — | $67.0M |
| Q4 25 | — | 7.1% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | 75.4% | 9.5% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | — | 8.6% | ||
| Q2 24 | 27.1% | 9.5% | ||
| Q1 24 | — | 6.8% |
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | 55.9% | 5.1% | ||
| Q1 25 | — | 3.5% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 4.6% | ||
| Q2 24 | 8.7% | 7.2% | ||
| Q1 24 | — | 3.3% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.68 | ||
| Q2 25 | $0.34 | $0.89 | ||
| Q1 25 | — | $0.58 | ||
| Q4 24 | — | $0.63 | ||
| Q3 24 | — | $0.79 | ||
| Q2 24 | $0.04 | $1.25 | ||
| Q1 24 | — | $0.56 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $310.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $1.9B |
| Total Assets | $8.5B | $8.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $310.0M | ||
| Q3 25 | — | $335.0M | ||
| Q2 25 | $1.3B | $225.0M | ||
| Q1 25 | — | $212.0M | ||
| Q4 24 | — | $246.0M | ||
| Q3 24 | — | $378.0M | ||
| Q2 24 | $862.0M | $250.0M | ||
| Q1 24 | — | $229.0M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | $1.5B | $1.8B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | $1.1B | $1.5B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | $8.2B | ||
| Q2 25 | $8.5B | $8.1B | ||
| Q1 25 | — | $7.9B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | — | $7.9B | ||
| Q2 24 | $7.3B | $7.7B | ||
| Q1 24 | — | $7.6B |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VEON
Segment breakdown not available.
XPO
| North American LTL | $1.2B | 58% |
| European Transportation | $844.0M | 42% |
