Latest Ratios: P/E Ratio 21.9x · EV/EBITDA 4.5x · ROE 10.4%. (2023–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Market Cap | $2.9B | $2.8B | — | — |
| Enterprise Value | $2.9B | $2.9B | — | — |
| P/E Ratio → | 21.95 | 22.77 | — | — |
| P/S Ratio | 2.50 | 2.42 | — | — |
| P/B Ratio | 2.08 | 2.16 | — | — |
| P/FCF | 9.29 | 9.02 | — | — |
| P/OCF | 5.18 | 5.03 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| EV / Revenue | — | 2.48 | — | — |
| EV / EBITDA | 4.48 | 4.35 | — | — |
| EV / EBIT | 6.61 | 10.50 | — | — |
| EV / FCF | — | 9.22 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Gross Margin | 64.4% | 64.4% | 64.2% | 66.8% |
| Operating Margin | 38.5% | 38.5% | 37.9% | 39.7% |
| Net Profit Margin | 10.7% | 10.7% | 30.8% | 30.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| ROE | 10.4% | 10.4% | 28.8% | 31.7% |
| ROA | 5.7% | 5.7% | 13.5% | 14.2% |
| ROIC | 23.0% | 23.0% | 16.4% | 16.6% |
| ROCE | 30.3% | 30.3% | 22.9% | 21.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Debt / Equity | 0.40 | 0.40 | 0.83 | 1.01 |
| Debt / EBITDA | 0.78 | 0.78 | 1.75 | 1.67 |
| Net Debt / Equity | — | 0.05 | 0.43 | 0.85 |
| Net Debt / EBITDA | 0.09 | 0.09 | 0.91 | 1.40 |
| Debt / FCF | — | 0.20 | 2.55 | 8.78 |
| Interest Coverage | 3.64 | 3.64 | 5.23 | 5.22 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Current Ratio | 1.38 | 1.38 | 1.36 | 2.66 |
| Quick Ratio | 1.35 | 1.35 | 1.36 | 2.64 |
| Cash Ratio | 0.91 | 0.91 | 0.53 | 1.11 |
| Asset Turnover | — | 0.55 | 0.42 | 0.46 |
| Inventory Turnover | 27.47 | 27.47 | 109.67 | 76.00 |
| Days Sales Outstanding | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Dividend Yield | — | — | — | — |
| Payout Ratio | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Earnings Yield | 4.6% | 4.4% | — | — |
| FCF Yield | 10.8% | 11.1% | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $216M | $231M | $231M |
Includes 30+ ratios · 3 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying KYIV stock.
Kyivstar Group Ltd. Common Shares's current P/E ratio is 21.9x. The historical average is 22.8x.
Kyivstar Group Ltd. Common Shares's current EV/EBITDA is 4.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.3x.
Kyivstar Group Ltd. Common Shares's return on equity (ROE) is 10.4%. The historical average is 23.6%.
Based on historical data, Kyivstar Group Ltd. Common Shares is trading at a P/E of 21.9x. Compare with industry peers and growth rates for a complete picture.
Kyivstar Group Ltd. Common Shares has 64.4% gross margin and 38.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Kyivstar Group Ltd. Common Shares's Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Geopolitical infrastructure disruption
Valuation Discount Reflects Geopolitical Risk
According to current market data, Kyivstar trades at a forward P/E of 10.32, which appears to significantly discount the company's 25.90% revenue growth rate when compared to regional peers like Telefônica Brasil, suggesting that investors are heavily pricing in the persistent geopolitical uncertainty surrounding the Ukrainian market.
The divergence between the trailing P/E of 25.88 and the forward multiple suggests that the market anticipates a normalization of earnings as the company scales its digital services. This valuation gap warrants further investigation into whether the market is mispricing the resilience of the digital ecosystem relative to the physical infrastructure risks.
Capital Efficiency Constrained by Resilience
Based on reported figures, Kyivstar's ROIC has fluctuated around 6% to 8% over the last ten quarters, indicating that while the company is generating positive returns, the heavy capital intensity required for network maintenance in a conflict zone prevents significant compounding of invested capital at this stage.
The modest ROIC levels reflect the necessity of continuous, non-discretionary investment in infrastructure to maintain service uptime. Investors should monitor whether the shift toward higher-margin digital services can eventually decouple return metrics from the heavy physical asset base currently required for operations.
Working Capital Volatility Masks Efficiency
As reported in recent financial statements, the cash conversion cycle has shown extreme volatility, swinging from -299 days in 2025Q2 to -124 days in 2026Q1, which appears to be driven more by lumpy capital expenditure and payment timing than by fundamental changes in operational efficiency.
The erratic nature of the CCC suggests that the company's working capital management is heavily influenced by the timing of large-scale infrastructure projects and potential supply chain disruptions. This makes traditional efficiency ratios less reliable indicators of underlying operational health compared to more stable, non-conflict-exposed telecommunications peers.
Conservative Leverage Enhances Financial Flexibility
According to the 2026Q1 balance sheet, Kyivstar maintains a debt-to-equity ratio of 0.39, a significant improvement from the 2.12 level observed in 2024Q4, which indicates a deliberate and successful effort to de-risk the capital structure despite the ongoing operational challenges in the Ukrainian market.
This low leverage profile provides a critical buffer against potential liquidity shocks and interest rate volatility. The company's ability to maintain such a conservative debt position while funding essential network resilience suggests a strong focus on balance sheet preservation during periods of extreme geopolitical stress.
Misapplication of Traditional Utility Multiples
The most commonly misapplied metric for Kyivstar is the EV/EBITDA multiple, which fails to account for the company's transition into a digital services platform and the non-recurring nature of infrastructure impairment charges that frequently distort the denominator in this high-risk, conflict-affected operating environment.
Relying solely on EV/EBITDA obscures the value of the 'Helsi' digital health platform and other non-connectivity revenue streams that carry different risk profiles. Analysts should instead focus on adjusted free cash flow or segment-specific growth metrics to better capture the company's evolving business model and long-term earnings potential.