The company has significantly strengthened its capital structure, evidenced by a reduction in the debt-to-equity ratio to 0.39 in 2026Q1 from a high of 2.12 in 2024Q4.
| Total Current Assets | 582M | 686M | 1.21B | 704M |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | 353M | 455M | 429M | 143M |
| Short-Term Investments | 0 | 0 | 38M | 151M |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | 2M | 15M | 3M | 4M |
| Days Inventory Outstanding | 13.62 | 13.29 | 3.33 | 4.8 |
| Other Current Assets | 154M | 122M | 315M | 342M |
| Total Non-Current Assets | 1.6B | 1.44B | 1B | 1.28B |
| Property, Plant & Equipment | 886M | 849M | 664M | 615M |
| Fixed Asset Turnover | 1.39x | 1.36x | 1.38x | 1.49x |
| Goodwill | 206M | 128M | 14M | 15M |
| Intangible Assets | 440M | 363M | 283M | 257M |
| Long-Term Investments | 96.13M | 34M | 10M | 11M |
| Other Non-Current Assets | - | - | - | - |
| Total Assets | 2.18B | 2.12B | 2.21B | 1.98B |
| Asset Turnover | 0.64x | 0.55x | 0.42x | 0.46x |
| Asset Growth % | 72.75% | -3.94% | 11.4% | - |
| Total Current Liabilities | 501M | 498M | 887M | 265M |
| Accounts Payable | 147M | 141M | 132M | 120M |
| Days Payables Outstanding | 100.97 | 124.92 | 146.44 | 144.08 |
| Short-Term Debt | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - |
| Other Current Liabilities | 108M | 25M | 7M | 5M |
| Current Ratio | 1.16x | 1.38x | 1.36x | 2.66x |
| Quick Ratio | 1.16x | 1.35x | 1.36x | 2.64x |
| Cash Conversion Cycle | -87.35 | - | - | - |
| Total Non-Current Liabilities | 338M | 325M | 242M | 831M |
| Long-Term Debt | 298M | 287M | 225M | 815M |
| Capital Lease Obligations | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| Total Liabilities | 839M | 823M | 1.13B | 1.1B |
| Total Debt | 526M | 516M | 894M | 898M |
| Net Debt | 173M | 61M | 465M | 755M |
| Debt / Equity | 0.39x | 0.40x | 0.83x | 1.01x |
| Debt / EBITDA | 0.76x | 0.78x | 1.75x | 1.67x |
| Net Debt / EBITDA | 0.25x | 0.09x | 0.91x | 1.40x |
| Interest Coverage | - | 3.64x | 5.23x | 5.22x |
| Total Equity | 1.34B | 1.3B | 1.08B | 887M |
| Equity Growth % | 397.74% | 20.28% | 21.76% | - |
| Book Value per Share | 5.81 | 6.01 | 4.68 | 3.84 |
| Total Shareholders' Equity | 1.34B | 1.3B | 1.08B | 887M |
| Common Stock | 2M | 2M | 0 | 0 |
| Retained Earnings | 1.05B | 965M | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2.11B | -2.07B | -2.08B | -1.99B |
| Minority Interest | 0 | 0 | 0 | 0 |
Geopolitical infrastructure disruption
According to recent financial statements, Kyivstar has successfully reduced its debt-to-equity ratio from a peak of 2.12 in 2024Q4 to 0.39 by 2026Q1, signaling a significant strengthening of the balance sheet despite the persistent operational challenges inherent in its primary market of operations.
The rapid deleveraging suggests a management focus on balance sheet preservation during periods of extreme regional instability. This trend indicates that the company is prioritizing financial flexibility to navigate potential asset impairments or emergency capital requirements.
Based on the reported figures for 2026Q1, Kyivstar maintains a modest debt-to-equity ratio of 0.39, which appears to provide a substantial buffer against the high-risk environment and suggests that the company is not overly reliant on external financing to sustain its critical infrastructure operations.
The current debt load appears manageable relative to the company's asset base, implying that interest rate sensitivity is likely low. Investors should monitor whether this conservative stance is a permanent strategic shift or a temporary reaction to restricted access to international credit markets.
As reported in recent filings, Kyivstar's net PPE of $886 million in 2026Q1 represents the core of its asset base, highlighting the capital-intensive nature of its business model and the ongoing necessity of maintaining physical network integrity in a high-risk, conflict-affected geographic region.
The concentration of assets in physical infrastructure suggests that the company's value is intrinsically tied to the survivability of its network. The relatively low goodwill balance of $206 million indicates that the asset base is primarily composed of tangible, operational equipment rather than speculative intangible valuations.
Based on the 2026Q1 balance sheet, the company maintains a current ratio of 1.16, which, while adequate, warrants close monitoring given the lumpy nature of capital expenditures and the potential for sudden, unforeseen cash outflows required to maintain network uptime in contested territories.
The cash position of $353 million provides a necessary cushion, though it has fluctuated significantly over the past several quarters. This liquidity profile suggests that while the company is not currently facing a solvency crisis, it must maintain high cash balances to mitigate the risk of operational disruption.
According to the latest quarterly data, retained earnings have climbed to $1.1 billion in 2026Q1, reflecting a consistent ability to generate internal capital despite the significant headwinds and non-operating charges that have historically impacted the company's bottom-line performance in the Ukrainian market.
The growth in equity suggests that the business is successfully reinvesting profits to bolster its competitive position. This accumulation of equity provides a stronger foundation for the company to absorb potential future shocks to its asset base or operational margins.
Quick answers to the most common questions about buying KYIV stock.
As of 2025, Kyivstar Group Ltd. Common Shares (KYIV) had total assets of $2.12B including $686.0M in current assets.
Kyivstar Group Ltd. Common Shares (KYIV) carries total debt of $516.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kyivstar Group Ltd. Common Shares (KYIV) has total shareholders' equity (book value) of $1.30B ($6.01 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Kyivstar Group Ltd. Common Shares (KYIV) reported a current ratio of 1.38x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.