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Kyivstar Group (KYIV) Fair Value & Analysis

Communication Services · US · Market cap $3.3B

KG Kyivstar Group logo Kyivstar Group KYIV · US
Price$13.38
Fair Value$17.69
Upside+32.2%
Quality62/100
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Expensive Growth
Solidly profitable · 13.5% net margin
Low debt · generates free cash flow
Ranks above peers (9/14)
Wide moat 72/100
Evidence: Medium Range $10.50 – $19.68 Share as image

Fair value as of: Jul 19, 2026

From 24 valuation models · updated 21 days ago

Share price −14.1% over the past month.

A solid business, screening 32% undervalued on our models.

What matters now

  • Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range ($10.50 to $19.68) leaves room in how you read the outcome.
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Price vs Fair Value (20 months)

$16.17 $9.33 Fair Value $17.69 Dec 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

20‑month range $9.33 – $16.17 · fair‑value band $10.50 – $19.68 · the $13.38 price screens below the $17.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Kyivstar Group (KYIV) currently trades at $13.38, while our model-based Fair Value estimate is $17.69, implying the stock looks roughly 32.2% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Kyivstar Group generated revenue of $1.2B at a net margin of 13.5%. Revenue grew 26.7% year over year. It earns a return on equity of 13.3%. Net debt stands at $61.0M. Fundamentals as of Jul 19, 2026

Our scenario range runs from $10.50 (bear case) to $19.68 (bull case); at $13.38, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 19% below its 52-week high and 44% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at 32%, KYIV screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $19.79 $36.90 $68.31 80
Rev-Margin DCF $14.37 $26.20 $43.78 74
ROIC Compounder $18.42 $25.25 $34.23 72
All 24 models by family
DCF Models
FCF DCF $20.74 $33.72 $69.77 38
Owner Earnings $6.00 $12.42 $25.39 31
5Y Revenue Exit $14.37 $24.77 $44.77 39
5Y EBITDA Exit $24.08 $45.82 $85.53 41
5Y P/E Exit $12.71 $22.80 $35.38 38
10Y Revenue Exit $15.84 $29.11 $44.42 36
10Y EBITDA Exit $22.93 $47.02 $91.06 37
10Y P/E Exit $15.10 $26.05 $43.80 35
Earnings-Based
Graham-Dodd $3.65 $25.47 $35.74 54
Lynch FV $7.53 $10.75 $13.98 50
PEG = 1.0 $7.53 $10.75 $13.98 46
EPV $15.38 $17.69 $19.68 59
Multiples
P/E Multiple $8.86 $11.82 $14.77 63
P/S Multiple $6.85 $9.13 $11.41 58
P/B Multiple $6.85 $9.13 $11.41 55
EV/EBIT $23.91 $31.64 $39.37 53
EV/EBITDA $26.11 $34.57 $43.03 54
EV/Revenue $11.25 $15.76 $20.27 43
Asset-Based
NCAV (Graham) $2.81 $3.77 $5.63 50
Growth DCF
Growth DCF $19.79 $36.90 $68.31 80
Rev-Margin DCF $14.37 $26.20 $43.78 74
Economic Profit
Residual Income $4.81 $5.27 $7.36 61
ROIC Compounder $18.42 $25.25 $34.23 72
Growth Earnings
Growth-Adj P/E $10.50 $15.01 $19.51 68

Widest divergence: Growth DCF ($26.20) versus Asset-Based ($3.77). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $1.2B
Revenue growth (YoY) +26.7%
Net margin 13.5%
Return on equity 13.3%
Free cash flow $311M FY2025
P/E ratio 20.0
More key figures
Operating margin 35.6%
EPS (TTM) $0.7200
EPS growth (YoY) +75.3%
Net debt $61.0M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 63 · Market factors (momentum, volatility) 45

Profitability 47
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 84
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 61
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Kyivstar Group Ltd. provides a range of mobile communication and broadband services for individual and corporate customers in Ukraine.

Full company description

Kyivstar Group Ltd. provides a range of mobile communication and broadband services for individual and corporate customers in Ukraine. The company offers a range of connectivity and digital services, including mobile and fixed-line voice and data, ride-hailing, e-health, digital TV, a suite of self-service options, and enterprise solutions, such as Big Data, cloud, and cybersecurity under Kyivstar TV, Helsi, MyKyivstar, Kyivstar.Tech, and Uklon platforms. It also provides internet services such as corporate internet access, fixed-line telephone, data transmission and fixed-mobile convergence, and internet-TV via FTTB network connections. The company was founded in 1994 and is headquartered in Dubai, the United Arab Emirates. Kyivstar Group Ltd. operates as a subsidiary of Vimpelcom Amsterdam B.V.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Kyivstar Group reported revenue of $1.2B in FY2025 versus $915M in FY2023, a compound +12.4%/yr. Reported net income was $124M in FY2025.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
$1.2B
Latest YoY
+25.9%
Revenue +12.4%/yr
FY23 $915M
FY24 $919M
FY25 $1.2B
Net income
FY22 −$19.4K
FY23 $281M
FY24 $283M
FY25 $124M

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Cite: Fair Value Calculator (2026). "Kyivstar Group Fair Value". https://www.fairvalue-calculator.com/stock/KYIV

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Telecom Services · 252 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 62 · Top 25%
Fair Value upside +32% · Above median
Return on equity (TTM) 13% · Above median
Return on assets 13% · Top 25%
Net margin (TTM) 13% · Top 25%
Operating margin (TTM) 36% · Top 25%
Revenue growth 27% · Top 25%
Debt / equity 0.22× · Lower than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 20.0× · Pricier than median
P/B 2.53× · Pricier than median
P/S (TTM) 2.68× · Pricier than 75% of peers
P/FCF 10.5× · Pricier than 75% of peers
EV/EBITDA 5.3× · Cheaper than median
PEG 1.42× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 76 · sector 30
FUTURE 100 · sector 15
PAST 53 · sector 28
HEALTH 89 · sector 89
DIVIDEND 0 · sector 72

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥89.98 ¥109.88 +22%
T-Mobile US, Inc TMUS $187.61 $172.67 -8%
Bharti Airtel Limited BHARTIARTL ₹1,922 ₹941.55 -51%
China Telecom Corporation 601728 ¥6.01 ¥8.36 +39%
América Móvil, S.A. AMXB 23.07 MXN 30.35 MXN +32%
Vodafone Group VODN 259.50 MXN 507.27 MXN +95%
Advanced Info Service Public Company ADVANC 379.00 THB 286.77 THB -24%
Chunghwa Telecom Co 2412 133.50 TWD 100.00 TWD -25%
China Unicom (Hong Kong) Limited 0762 HK$6.50 HK$13.03 +100%
Telefónica, S.A TEFN 75.67 MXN 111.01 MXN +47%

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Frequently asked questions

Is Kyivstar Group (KYIV) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of $17.69 versus a price of $13.38, about +32% (undervalued).
What is the fair value of KYIV?
Our model-based fair value for Kyivstar Group is $17.69 (as of Jul 19, 2026), built from audited fundamentals. The current price is $13.38.
What is the quality score of KYIV?
Kyivstar Group has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Kyivstar Group (KYIV)?
Kyivstar Group reported trailing-twelve-month revenue of about $1.2B (latest available figure, as of Jul 19, 2026).
What is the net profit margin of KYIV?
The net profit margin of Kyivstar Group is about 13.5%, meaning it keeps roughly 13.5% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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