Friday 6 November 2026
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Kyivstar Group Ltd.
KYIV Communication Services Telecom Services
Kyivstar Group Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 25.9% from fiscal 2024.
- Revenue
- +19.4%
- EPS
- −16.7%
- Free cash flow
- +29.2%
- Total debt
- −39.1%
Quarter to June 2026, against a year earlier
13.09
0.53
−3.89%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | 919 | 1,157 | 1,280 | +25.9% | 1,343 | 1,442 | 1,566 | +10.6% | |
| Gross margin, % | — | — | — | — | — | — | — | — | 89.12 | 89.37 | 88.83 | +0.3 pt | ||||||
| EBT | — | — | — | — | — | — | — | — | 347 | 198 | 238 | (42.9%) | ||||||
| EBT margin, % | — | — | — | — | — | — | — | — | 37.76 | 17.11 | 18.59 | (20.6) pt | ||||||
| Net income | — | — | — | — | — | — | — | — | 347 | 198 | 238 | (42.9%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | — | 4.44 | 5.35 | 5.54 | +20.6% | |||||
| Earnings | — | — | — | — | — | — | — | — | 1.37 | 0.57 | 0.68 | (58.3%) | ||||||
| Cash flow | — | — | — | — | — | — | — | — | 2.08 | 2.58 | 2.70 | +24.3% | ||||||
| Capex | — | — | — | — | — | — | — | — | (1.20) | (1.51) | (1.49) | +26.3% | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | 0.88 | 1.07 | 1.21 | +21.5% | ||||||
| Book value | — | — | — | — | — | — | — | — | 5.22 | 6.01 | 6.00 | +15.2% | ||||||
| Shares, m | — | — | — | — | — | — | — | — | 207 | 216 | 224 | +4.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | 21.00 | 22.04 | 19.25 | 21.5 | |||||
| P/S | — | — | — | — | — | — | — | — | 0.00 | 2.42 | 2.36 | 1.2 | ||||||
| P/B | — | — | — | — | — | — | — | — | 1.92 | 2.16 | 2.18 | 2.0 | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | 0.00 | 2.37 | 2.40 | 1.2 | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | 0.00 | 11.89 | 10.97 | 5.9 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | — | 430 | 558 | 624 | +29.8% | |||||
| Capex | — | — | — | — | — | — | — | — | (248) | (327) | (344) | +31.9% | ||||||
| Free cash flow | — | — | — | — | — | — | — | — | 182 | 231 | 280 | +26.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | 321 | 194 | 122 | (39.6%) | |||||
| Net debt | — | — | — | — | — | — | — | — | 126 | (58) | 49 | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | 1,080 | 1,299 | 1,385 | +20.3% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | — | 0.00 | 5.73 | 14.14 | +5.7 pt | |||||
| ROIC | — | — | — | — | — | — | — | — | 18.03 | 13.80 | 13.42 | (4.2) pt | ||||||
| ROE | — | — | — | — | — | — | — | — | 0.00 | 10.42 | 12.98 | +10.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | — | 5,183 | — | — | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | — | 0.00 | 0.22 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Kyivstar Group Ltd. vs peers in Telecom Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| LUMN Lumen Technologies, Inc. | $4.1B | — (loss-making) | — (loss-making) | −12.05% (below 0%: shrinking) | n/m | −123.67% (below 0%: shrinking) | 47.26% | (6.15%) | Compare |
| TKC Turkcell Iletisim Hizmetleri AS | $4.0B | 9.4× | — | +15.43% (above 0%: growing) | +8.33% (above 0%: growing) | −58.09% (below 0%: shrinking) | 25.36% | 12.41% | Compare |
| PHI PLDT Inc. | $3.9B | 8.6× | 7.7× | −5.84% (below 0%: shrinking) | −24.00% (below 0%: shrinking) | +78.48% (above 0%: growing) | 57.86% | 20.01% | Compare |
| TDS Telephone and Data Systems, Inc. | $3.5B | 10.6× | 9.3× | +3.60% (above 0%: growing) | n/m | −133.98% (below 0%: shrinking) | 58.19% | 120.67% | Compare |
| LBTYK Liberty Global Ltd | $3.2B | — (loss-making) | — | −7.65% (below 0%: shrinking) | n/m | +429.69% (above 0%: growing) | 50.62% | 0.26% | Compare |
| LBTYA Liberty Global Ltd | $3.2B | — (loss-making) | — (loss-making) | −7.65% (below 0%: shrinking) | n/m | +429.69% (above 0%: growing) | 50.62% | 0.26% | Compare |
| KYIV Kyivstar Group Ltd. | $3.0B | 19.3× | 9.3× | +19.37% (above 0%: growing) | −16.71% (below 0%: shrinking) | +29.21% (above 0%: growing) | 88.79% | 37.46% | |
| AD Array Digital Infrastructure Inc. | $2.7B | 5.1× | 5.1× | +89.53% (above 0%: growing) | +1,021.62% (above 0%: growing) | −115.23% (below 0%: shrinking) | 56.54% | 738.42% | Compare |
| IDT IDT Corporation | $2.2B | 23.6× | 11.2× | +7.07% (above 0%: growing) | +29.85% (above 0%: growing) | +49.07% (above 0%: growing) | 39.78% | 9.80% | Compare |
| Median of peers | $3.4B | 9.4× | 8.5× | −1.12% | +19.09% | −4.51% | 50.62% | 11.11% |