KYIV
Kyivstar Group Ltd. Common SharesCommunication Services·Telecommunications Services
$14.28
$3.3B market cap
Revenue
$644.0M
Free Cash Flow
$74.0M
Rev Growth
+0.0%
FCF Margin
11.5%
P/FCF
44.5x
EV/FCF
46.9x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Kyivstar Group Ltd. is a holding company that, through its subsidiaries, delivers a broad range of mobile and fixed-line services. Its offerings include 4G connectivity, big data analytics, cloud services, cybersecurity solutions, and digital television. The Company operates in Ukraine and the United Arab Emirates.
2-Year Price History
$14.20+36.1%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 323.0 | 172.0 | 114.0 | 85.0 | 161.0 | 92.4 | -50.0 | 353.0 | 526.0 | 230.9 | 38.6% | 9.6x | -- |
| Act | 2025-Q4 | 321.0 | 194.0 | 117.0 | 90.0 | 152.0 | -18.4 | -152.0 | 455.0 | 516.0 | 231.1 | 40.9% | 10.8x | -- |
Valuation & Metrics
Market Stats
Price$14.28
Market Cap$3.3B
Enterprise Value$3.5B
P/S Ratio5.1x
P/FCF44.5x
EV/FCF46.9x
FCF Margin (TTM)11.5%
FCF Yield2.2%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$644.0M
Net Income$175.0M
Free Cash Flow$74.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin56.8%
Net Margin27.2%
FCF Margin11.5%
CapEx % of Revenue31.4%
SBC % of Revenue0.0%
ROIC39.8%
WC Change % Rev5.7%
Interest Coverage10.2x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.3M
Days to Cover3.2
Change (vs Prior)-7.5%
Need at least 2 settlement dates for chart
Employees
Headcount3,675
Revenue / Employee$175,238
Gross Profit / Employee$60,408
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
8.0%(+5.0% YoY)
53 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.1%(-0.0% YoY)
1 filers
Vanguard, iShares, SPDR
Market makers
0.0%(+0.0% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| SONA ASSET MANAGEMENT (US) LLC | $56.2M | $11.91 | +$17.4M | +$56.2M | -0.3% | $1.93B |
| Pertento Partners LLP | $51.6M | $11.13 | +$33.3M | +$51.6M | -0.5% | $942M |
| UBS Group AG | $33.1M | $10.69 | +$25.5M | +$33.1M | -0.3% | $562.11B |
| VR Advisory Services Ltd | $16.9M | $10.12 | +$16.9M | +$16.9M | +0.1% | $845M |
| Philosophy Capital Management LLC | $16.7M | $10.12 | +$16.7M | +$16.7M | -1.1% | $858M |
| Alyeska Investment Group, L.P. | $14.8M | $10.12 | +$14.8M | +$14.8M | -0.5% | $35.33B |
| MARSHALL WACE, LLP | $11.4M | $10.12 | +$11.4M | +$11.4M | +0.6% | $92.71B |
| MORGAN STANLEY | $7.8M | $12.93 | −$2.6M | +$7.8M | -0.3% | $1.65T |
| Longaeva Partners L.P. | $4.6M | $10.12 | +$4.6M | +$4.6M | -0.5% | $2.08B |
| SEVEN GRAND MANAGERS, LLC | $4.0M | $10.12 | +$4.0M | +$4.0M | -0.7% | $1.50B |
| CenterBook Partners LP | $4.0M | $11.96 | +$2.6M | +$4.0M | -0.3% | $1.85B |
| D. E. Shaw & Co., Inc. | $3.6M | $12.50 | −$1.6M | +$3.6M | -0.3% | $118.02B |
| Verition Fund Management LLC | $3.6M | $10.49 | +$3.1M | +$3.6M | -0.4% | $9.73B |
| SBI Securities Co., Ltd. | $3.2M | $12.50 | −$4.9M | +$3.2M | +0.9% | $3.62B |
| HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P. | $2.9M | $10.12 | +$2.9M | +$2.9M | -2.4% | $1.43B |
| DEUTSCHE BANK AG\ | $2.8M | $10.12 | +$2.8M | +$2.8M | -0.3% | $302.17B |
| Hudson Bay Capital Management LP | $2.5M | $10.12 | +$2.5M | +$2.5M | +1.9% | $15.12B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $2.2M | $12.50 | −$6K | +$2.2M | +2.3% | $1.61T |
| STIFEL FINANCIAL CORP | $2.0M | $11.57 | +$763K | +$2.0M | -0.3% | $108.17B |
| MILLENNIUM MANAGEMENT LLC | $1.9M | $11.78 | +$631K | +$1.9M | -0.5% | $127.40B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.53%
avg per quarter
Holders (ex-self)
-0.49%
excl. this stock
Buyers (this Q)
-0.63%
41 buyers · $0.15B in
Sellers (this Q)
-0.52%
9 sellers · $0.02B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+21.1%
how holders react when this stock falls
On quiet Qs
-10.5%
−10% to +10% baseline
On rallies (+10%+)
-9.3%
how they react when this stock rises
Holders' portfolio flow this Q
+5.0%
inflows — adds are organic
Sellers' portfolio flow this Q
+6.6%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-0.3%
Holder mid (any stock)
-2.6%
Holder rally (any stock)
-9.3%
Biggest decreases this quarter
SBI Securities Co., Ltd.−$4.9Mα+0.9MORGAN STANLEY−$2.6Mα-0.3Harraden Circle Investments, LLCexited−$2.1MClearline Capital LPexited−$1.9MD. E. Shaw & Co., Inc.−$1.6Mα-0.3PERISCOPE CAPITAL INC.exited−$999KDiametric Capital, LPexited−$541KHRT FINANCIAL LPexited−$465KLMR Partners LLPexited−$313KSG Americas Securities, LLCexited−$279K
New buyers this quarter
VR Advisory Services Ltd+$0.02Bα+0.1Philosophy Capital Management LLC+$0.02Bα-1.1Alyeska Investment Group, L.P.+$0.01Bα-0.5MARSHALL WACE, LLP+$0.01Bα+0.6Longaeva Partners L.P.+$0.00Bα-0.5SEVEN GRAND MANAGERS, LLC+$0.00Bα-0.7HIGHLAND CAPITAL MANAGEMENT FUND ADVISORS, L.P.+$0.00Bα-2.4DEUTSCHE BANK AG\+$0.00Bα-0.3Hudson Bay Capital Management LP+$0.00Bα+1.9Magnetar Financial LLC+$0.00Bα-0.8
Top-5 holders · 66.7%
SONA ASSET MANAGEMENT (US) LLC--
Pertento Partners LLP--
UBS Group AG--
VR Advisory Services Ltd--
Philosophy Capital Management LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
SONA ASSET MANAGEMENT (US) LLC5.5MPertento Partners LLP5.1MUBS Group AG3.3MVR Advisory Services Ltd1.7MPhilosophy Capital Management LLC1.7MAlyeska Investment Group, L.P.1.5MSBI Securities Co., Ltd.318KMORGAN STANLEY767KMARSHALL WACE, LLP1.1MCenterBook Partners LP394K
Analyst Coverage
Analyst Coverage
Price Targets
Last Year (4 analysts)$17.502250.0%
Current Price$14.28
Corporate
Order Flow (FINRA, ~3w lag)
16.5%retail-0.7pp
22.1%dark-4.4pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Kyivstar Group Ltd.: Geopolitical Trap with Trapped Liquidity and Parent-Subsidiary Financial Engineering
Overall Risk
8/10
Fraud
4/10
Dilution
7/10
Insolvency
6/10
Earnings Overstated
5/10
Hidden Liabilities
6/10
Legal
9/10
Audit Warnings
8/10
Hidden Upside
3/10
Contextually Acceptable
3/10