Verdict: Side-by-side breakdown using the Bull Rankings model. TLK scored 51.9, VEON scored 71.8 — VEON leads.
Compare another set
Different reporting periods. TLK's fundamentals are as of June 2026, but VEON's are as of December 2025 — a 6-month gap. Growth, margin and valuation figures below therefore describe different windows and aren't strictly like-for-like.
TLK
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
Telecom Services · Quality-Growth
51.9
$12.83 · $12.6B
fundamentals as of
Score gap
19.9
VEON leads
VEON
VEON Ltd.
Telecom Services · Quality-Growth
71.8
$76.81 · $5.3B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
CheapestTLK12.5x
Fastest growthVEON+9.9%
Strongest balance sheetTLK0.60
Highest qualityTLK80 / 100
Largest discount to fair valueTLK-60%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
TLK
stronger →← stronger
VEON
80
Qualityreturns · margins · balance sheet
78
34
Growthrevenue & earnings expansion
78
71
Valuevaluation vs sector peers
60
TLK is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
TLK
VEON
$2.3bB
FCF
$620mC+
-2.2%D+
Rev
+9.9%B
0.60B
D/E
3.05C
12.5xB+
P/E
98.5xD
2.76C
PEG
2.23C
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
TLK
VEON
60% below
Price vs fair valuelower is cheaper
39% below
~-19%/yr
Growth the price impliesyr-1 FCF growth, fading to 4% · lower = less priced in
~0%/yr
+159%
1-yr DCF upside
+35%
+150%
5-yr DCF upside
+63%
+138%
10-yr DCF upside
+110%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
TLK
Why this score
Raising its dividend
Durable high returns
Foreign reporter (IDR)
VEON
No notable signals flagged.
The companies
TLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
Telecom Services · $12.83 · beta 0.15
Why now
Telecom Services · market cap $12.6b. Down 45% from 52-week high of $23.52 — deep drawdown territory.
Moat
Net margin 12% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 18% is above 15% — the equity base is compounding at a rate the market struggles to discount accurately.
Risk
Down 45% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Dividend payout 117% of earnings on a 9.5% yield — distribution coverage is thin; one earnings stumble could force a dividend cut.
VEONVEON Ltd.
Telecom Services · $76.81 · beta 1.61
Why now
Telecom Services · market cap $5.3b. Trading near 52-week high of $78.83 — momentum setup, limited technical margin of safety. 7 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $86.87 (implying +13% upside).
Moat
Net margin 13% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 36% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 105% of net income — earnings translate cleanly into cash.
Risk
D/E 3.05 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Trailing P/E 98.5x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. Trading within 3% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where TLK and VEON diverge
On the headline score the gap is 19.9 points in favor of VEON. They get there differently, though — each leads on a different pillar, so the better pick depends on which you weight.
GrowthTLK 33.9 · VEON 78.4VEON +44.5
ValueTLK 70.7 · VEON 60.5TLK +10.2
QualityTLK 80.1 · VEON 78.1level
Pillars run 0–100. Value is judged against each company's own sector, so a Value score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.
Common questions
Is VEON or TLK the better stock?
VEON scores higher: VEON 71.8, TLK 51.9 out of 100 on the Bull Rankings quality-growth score, which blends business quality, growth and valuation into one number. A higher score means a stronger business at a more reasonable price — it is not a price target or a recommendation.
Where do VEON and TLK differ most?
The widest gap is growth, where VEON leads by 45 points on the 0–100 pillar scale. Neither name sweeps: they trade the lead across the three pillars, so the comparison is a trade-off rather than one being better on every measure.
How are VEON and TLK scored?
Each carries the same 0–100 quality-growth score used everywhere on the site, built from three pillars — quality (profitability and returns on capital), growth (revenue and earnings), and value (what you pay for them) — combined as a geometric mean, so a weak pillar cannot be papered over by a strong one.
How current is this comparison?
The whole universe is re-scored every trading day after the US market close, so the scores and fundamentals here reflect the latest published edition.