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KYIV

Kyivstar Group Ltd. Common Shares

KYIV

Kyivstar Group Ltd. Common Shares • NASDAQ
$14.17 ▼ -0.91% (-0.13)
Market Cap $3.27 B
52w High $16.48
52w Low $9.92
Dividend Yield 0%
P/E 25.76
Volume 568.10K
Outstanding Shares 230.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $297M ▲ $315M ▲ $-89M ▼ -29.966% ▼ $-0.41 ▼ $-17M ▼
Q2-2025 $284M ▲ $145M ▲ $82M ▲ 28.873% ▲ $0.36 ▲ $176M ▲
Q1-2025 $255M ▲ $137M ▲ $44M ▼ 17.255% ▼ $0.19 ▼ $123M ▼
Q2-2024 $235M ▲ $112M ▼ $72M ▲ 30.638% ▲ $0.31 ▲ $150M ▲
Q1-2024 $186M $113M $36M 19.355% $0.16 $109M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $472M ▲ $2.033B ▲ $797M ▼ $1.236B ▲
Q2-2025 $58.017M ▼ $1.341B ▼ $1.004B ▼ $337.87M ▼
Q1-2025 $520M $2.352B $1.211B $1.141B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.456M ▼ $-571.235K ▼ $0 ▲ $525K ▲ $-46.235K ▼ $-571.24K ▼
Q1-2025 $58M ▼ $128M ▲ $-64M ▲ $-30M ▼ $38M ▲ $74M ▲
Q2-2024 $89M ▲ $117M ▲ $-91M ▲ $-7M $15M ▲ $67M ▲
Q1-2024 $45M $83M $-103M $-7M $-30M $44M

Five-Year Company Overview

Income Statement

Income Statement Kyivstar’s recent results show a business that is profitable and relatively steady. Revenue has been broadly flat over the last two years, but earnings remain strong, with healthy margins from gross profit down to net income. There is a small softening in profitability at the operating level, but nothing that suggests a structural problem yet. Earnings per share are edging up, which hints at careful cost control and decent pricing power despite a very difficult operating environment in Ukraine. Overall, this is a mature, cash-generating telecom profile with early signs of shifting from pure stability toward funding growth in new digital areas.

Balance Sheet

Balance Sheet The balance sheet looks stronger than it did a year earlier. Total assets have grown, cash reserves have risen sharply, and debt has stayed broadly unchanged. As a result, the company’s net financial position has improved and its equity base has thickened, which provides a better cushion against shocks. Leverage still matters for a capital‑intensive telecom operator, but the trend is toward a sturdier financial foundation with more flexibility to invest and absorb volatility linked to the war and the broader economy.

Cash Flow

Cash Flow Kyivstar generates solid cash from its operations, which comfortably covers its day‑to‑day needs. However, free cash flow has slipped because the company is spending more on capital investments, likely tied to network expansion, modernization, and digital platforms. In other words, cash is being deliberately redirected from surplus into growth and resilience projects. This reinvestment phase can support future earnings, but it does mean less spare cash in the near term and makes the timing of returns more dependent on how well these projects perform.

Competitive Edge

Competitive Edge Kyivstar holds a dominant position in Ukraine’s mobile market, supported by a large subscriber base, strong brand recognition, and the country’s broadest and most advanced 4G network. Its partnership with Starlink on direct‑to‑cell satellite connectivity gives it a unique angle in resilience and rural coverage that competitors are unlikely to match quickly. On top of that, its growing digital ecosystem—TV streaming, ride‑hailing, e‑health, and business cloud services—deepens customer relationships and diversifies revenue beyond basic connectivity. The main competitive threats stem less from local rivals and more from geopolitical risks, infrastructure damage, and the possibility of regulatory or currency shocks that could reshape the market dynamics.

Innovation and R&D

Innovation and R&D Innovation is clearly a core part of Kyivstar’s strategy. The company is pushing beyond traditional telecom by building a digital ecosystem around media, healthcare, mobility, cloud, data analytics, IoT, and cybersecurity. The Starlink direct‑to‑cell project is a standout, positioning Kyivstar at the forefront of satellite‑enabled mobile services in Europe. Its work on a national Ukrainian‑language AI model and integration of AI into cloud offerings suggests a long‑term bet on data and intelligent services, not just connectivity. This is less about classic “R&D labs” and more about heavy, targeted investment in applied technology with clear commercial use cases and strong network effects.

Summary

Overall, Kyivstar looks like a financially solid, profitable telecom operator that is using its stable core business to fund an ambitious digital transformation. The income statement shows resilient earnings; the balance sheet has become more robust with higher cash and equity; and operating cash flow remains healthy even as free cash flow is temporarily squeezed by higher investment. Competitively, Kyivstar benefits from scale, brand strength, and a superior network, now reinforced by a distinctive satellite connectivity partnership and a growing suite of digital services. The big opportunities lie in deepening this ecosystem and monetizing AI, cloud, and data services, while the main risks come from the war‑affected operating environment, infrastructure vulnerability, and execution challenges as it integrates and scales new digital ventures.

NEWS

November 24, 2025 · 9:00 AM UTC

Kyivstar Launches Starlink Direct to Cell Satellite Connectivity in Ukraine

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October 31, 2025 · 9:00 AM UTC

Kyivstar Expands Testing of Starlink Direct to Cell Satellite Technology Throughout Ukraine

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October 27, 2025 · 10:00 AM UTC

Kyivstar Group to Release 3Q25 Earnings Update on November 10, 2025

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October 15, 2025 · 9:00 AM UTC

Kyivstar and Mastercard launch strategic partnership to advance innovative technologies and digital economy

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October 6, 2025 · 4:00 AM UTC

Kyivstar Launches Large-Scale Telecom Network Modernization Project

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