Kyivstar Group Ltd. is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.
Stock price today
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Third-party market data · may be delayed
Model estimate per share
~$25
Valuation models combined (4)
Base case. Range ~$14–$41. Weighted average of 4 models (growth cash-flow model, residual income, justified price-to-book, revenue-to-maturity model), the growth cash-flow model counting double.
Price vs value
No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.
Kyivstar Group Ltd. valuation: adjust assumptions and compare models →
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Funds44 adding, 28 cuttingOf 23 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Kyivstar Group Ltd.'s trailing-twelve-month revenue grew 25.9% year on year, with a free-cash-flow margin of 26.9%. Where it stands out: change in growth rate of +25.5pp ranks 1 of 16 integrated telecommunication services companies we cover. Where it lags: change in share count of 4.4% ranks 13 of 15 integrated telecommunication services companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow grew 16.0% while net income fell 56.2%: a 72pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 25.9% over the last 12 months, against a median of 3.5% for integrated telecommunication services companies we cover.
- Growth speeding up. The growth rate is 25.5 points higher than a quarter earlier.
- Strong cash generation. 26.9% of revenue turned into free cash flow, against a median of 13.8% for integrated telecommunication services companies we cover.
- Net cash. Cash exceeds long-term debt by $0.5bn.
Things to watch
- Margins narrowing. Operating margin is down 14.2 points on a year ago.
- Share dilution. Diluted shares rose 4.4% in a year.
- Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
Latest results
- Earnings per share
- $14.55 against an average estimate of $15.55: missed by 6.5%
- Next report
- November 6, 2026; average EPS estimate $15.69
Price chart
- 1 day+0.6%
- 1 week-0.9%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $1.2B
- Operating margin
- 23.7%
- Net margin
- 10.7%
- EPS (TTM, diluted)
- $0.57
Growth
- Revenue growth
- +25.9%
- Change in growth rate
- +25.5 pts
- Share count change
- +4.4%
Cash
- Free cash flow (TTM)
- $311M
- FCF margin
- 26.9%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for KYIV from the sources we follow. See filings →
Valuation models
We value Kyivstar Group Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. | ~$14 ~$11–$17 | Primary model, counts double |
| Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: fewer than 5 peers with a usable multiple |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | ~$41 ~$28–$62 | Included |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | ~$24 ~$20–$29 | Included |
| Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. | — | Does not apply: earnings are positive: price-to-earnings is the better measure |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | ~$32 ~$27–$38 | Included |
| Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$25 ~$14–$41 | 4 models |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Kyivstar Group Ltd. with Integrated Telecommunication Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 6, 2026, before the open. Analysts expect revenue of $334m and EPS of $15.69 (range $15.29 to $16.12) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $64.87 | +11% | $1.3bn | +16% |
| Next | $76.82 | +18% | $1.4bn | +7% |
Next year's EPS estimate has moved +2.3% in 90 days, across 4 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is +2.1% on 90 days ago. In the last 30 days, 2 analysts raised Kyivstar Group Ltd.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $63.52 | $75.07 |
| 60 days ago | $62.45 | $74.55 |
| 30 days ago | $62.45 | $74.55 |
| 7 days ago | $63.36 | $74.81 |
| Now | $64.87 | $76.82 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $15.55 | $14.55 | −6.5% |
| Mar 2026 | $14.52 | $15.61 | +7.5% |
| Dec 2025 | $13.57 | $16.35 | +20.5% |
| Sept 2025 | $14.39 | $13.87 | −3.6% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 4.9% of tradable shares
- Days to cover
- 4.16 at average volume
- Short interest, 1 month
- −6% to October 15, 2026
- Held by institutions
- 12% of shares
- Held by insiders
- 83.7% of shares
- Employees
- 5,667 full time
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Kyivstar Group Ltd. in five measures
Fundamentals
Where the money goes
Each dollar Kyivstar Group took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.
| Revenue | $1.2B | |
|---|---|---|
| Other operating costs | $883M | 76.3% of revenue |
| Operating income | $274M | 23.7% of revenue |
| Income tax | $74M | 6.4% of revenue |
| Interest and other | $76M | 6.6% of revenue |
| Net income | $124M | 10.7% of revenue |
Financial statements
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 915 | 919 | 1,157 |
| EBITDA | 539 | 511 | 479 |
| Operating income | 363 | 348 | 274 |
| Net income | 281 | 283 | 124 |
| Diluted EPS | $1.36 | $1.37 | $0.57 |
| Growth (year on year) | |||
| Revenue | — | +0.4% | +25.9% |
| EBITDA | — | −5.2% | −6.3% |
| Operating income | — | −4.1% | −21.3% |
| Net income | — | +0.7% | −56.2% |
| Diluted EPS | — | +0.7% | −58.4% |
| Margins | |||
| EBITDA margin | 58.9% | 55.6% | 41.4% |
| Operating margin | 39.7% | 37.9% | 23.7% |
| Net margin | 30.7% | 30.8% | 10.7% |
| Free-cash-flow margin | 34.6% | 29.2% | 26.9% |
| Cash flow | |||
| Cash from operations | 413 | 430 | 558 |
| Capital spending | 96 | 162 | 247 |
| Free cash flow | 317 | 268 | 311 |
| Balance sheet | |||
| Cash | 425 | 674 | 455 |
| Total debt | 0 | 0 | 0 |
| Net debt (negative = net cash) | −425 | −674 | −455 |
| Diluted shares | 207m | 207m | 216m |
Financial health
- Short-term assets cover short-term liabilities $692m of assets due within a year against $498m of liabilities due within a year.
- Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
- More cash than debt Cash or debt not separately reported. Not assessable.
- Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
- Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
- A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
- Operating profit covers interest at least five times over Interest not separately reported. Not assessable.
Dividends, buybacks and capital spending
- Diluted share count
- +4.4%
- year over year
- Days sales outstanding
- 12 days
- receivables vs revenue
Competitors: side by side with peers
| Last 12 months unless stated | KYIV | IDT | ATNI | IQST | SHEN | VEON | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $1.2bn | $1.3bn | $734m | $394m | $371m | $4.4bn | $4.6bn |
| Revenue growth, last 12 months | 25.9% | 5.4% | 2.0% | 39.3% | 5.5% | 9.9% | 3.3% |
| Revenue growth, 3-year average | — | 1.6% | −0.6% | 54.2% | 13.7% | — | 1.9% |
| Revenue growth, latest quarter | — | 7.1% | 1.8% | 51.1% | 4.6% | — | 5.3% |
| Gross margin | — | 38.3% | — | 2.7% | 67.0% | — | 61.2% |
| Operating margin | 23.7% | 9.3% | 37.7% | −1.3% | −3.9% | 32.7% | 20.3% |
| Operating margin, 3-year average | — | 7.6% | 13.0% | −0.7% | −6.3% | 24.9% | 16.7% |
| Net margin | 10.7% | 6.7% | 22.5% | −2.2% | −10.2% | 13.4% | 10.5% |
| Cash from operations / revenue | 48.2% | 7.0% | 17.4% | −1.0% | 28.4% | 70.2% | 28.5% |
| Free-cash-flow margin | 26.9% | 5.2% | 5.6% | −1.0% | −58.5% | 54.4% | 13.9% |
| Free-cash-flow margin, 3-year average | — | 6.3% | 2.5% | −1.1% | −67.8% | — | 10.2% |
| Stock pay / revenue | — | 0.8% | 1.0% | 0.2% | 2.8% | — | 0.8% |
| Change in share count | 4.4% | −1.1% | 1.1% | 208.2% | 1.0% | −0.9% | 0.5% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 25.9% | 3.5% | 2 of 16 |
| Change in growth rate Growth | +25.5pp | +0.9pp | 1 of 16 |
| Operating margin Profitability | 23.7% | 20.3% | 5 of 15 |
| Net margin Profitability | 10.7% | 10.7% | 8 of 16 |
| Free-cash-flow margin Cash generation | 26.9% | 13.8% | 2 of 15 |
| Change in share count Balance sheet | 4.4% | 0.0% | 13 of 15 |
| Days sales outstanding Balance sheet | 12 days | 33 days | 1 of 12 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Who owns it
Funds buying and selling- Reported value
- $440M
- Institutions reporting
- 72
- Shares held vs prior quarter
- ▲ 5.4%
- Positions opened / closed
- 23 / 10
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Pertento Partners LLP | $95.7M | 5.9M | 21.8% | ▲ 16.1% |
| Sona Asset Management (US) LLC | $64.9M | 4.0M | 14.8% | ▼ 27.7% |
| UBS Group AG | $32.7M | 2.0M | 7.4% | ▼ 38.2% |
| Philosophy Capital Management LLC | $28.2M | 1.7M | 6.4% | ▲ 5.7% |
| Vr Advisory Services Ltd | $26.9M | 1.7M | 6.1% | 0.0% |
| Morgan Stanley | $23.1M | 1.4M | 5.2% | ▲ 86.1% |
| Fil Ltd | $13.2M | 818K | 3.0% | New |
| Jpmorgan Chase & Co | $13M | 842K | 2.9% | ▲ 897.0% |
| Alyeska Investment Group, L.P. | $11.5M | 712K | 2.6% | ▼ 51.3% |
| Marshall Wace, LLP | $10.1M | 622K | 2.3% | ▼ 44.7% |
| Goldman Sachs Group Inc | $8.7M | 540K | 2.0% | ▲ 899.1% |
| Citadel Advisors LLC | $6.8M | 422K | 1.5% | ▲ 1602.5% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Kyivstar Group Ltd.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chartFrom insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Kyivstar Group Ltd. in brief
- What does Kyivstar Group Ltd. do?
- Kyivstar Group Ltd. is a US-listed company in the integrated telecommunication services industry. Its financial year ends in December.
- What is Kyivstar Group Ltd.'s stock ticker?
- Kyivstar Group Ltd. trades under the ticker KYIV on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Kyivstar Group Ltd.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Kyivstar Group Ltd. reported revenue of $1.2B, 25.9% higher than a year earlier, according to its SEC filings.
- What is Kyivstar Group Ltd.'s free cash flow?
- Kyivstar Group Ltd.'s free-cash-flow margin is 26.9% of revenue over the trailing twelve months, ranking 2 of the 15 integrated telecommunication services companies we cover.
- Who are Kyivstar Group Ltd.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Pertento Partners LLP, Sona Asset Management (US) LLC and UBS Group AG. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are Kyivstar Group Ltd.'s competitors?
- In our Integrated Telecommunication Services peer group, the companies closest to Kyivstar Group Ltd. are IDT Corp, ATN International, Inc., Iqstel Inc, Shenandoah Telecommunications Co and Veon Ltd. The side-by-side comparison below sets their revenue, margins and growth against Kyivstar Group Ltd.'s.
- When is Kyivstar Group Ltd.'s next earnings date?
- Around November 6, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Kyivstar Group Ltd. announces its own schedule.
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