Kyivstar Group Ltd. Financials

KYIVW

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Kyivstar Group Ltd. (KYIVW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI KYIVW FY2025 2026-04-22

Cash generation outpaced accounting profit as reinvestment and financing outflows were absorbed without a materially heavier balance sheet.

From FY2024 to FY2025, revenue rose 25.9% while operating cash flow rose 29.8%, so customer-level cash generation did not stall. Yet net income fell 56.2%; with free cash flow still rising despite heavier reinvestment, the squeeze appears to have landed far more in reported earnings than in the company's cash engine.

FY2025 also ended with a lighter balance sheet: liabilities fell to $823M while debt-to-equity eased to 0.6x, indicating less reliance on creditor funding than a year earlier. Even with $626M leaving through financing activities, that deleveraging suggests the business was using internally generated cash rather than adding obligations to move money out the door.

The company looks working-capital light, with inventory and receivables together at only $40M against $1.16B of FY2025 revenue, so relatively little cash appears trapped in stock or collections. That helps explain why cash conversion stayed resilient enough to absorb capex of $247M and still leave $311M of free cash flow.

Financial Health Signals

Financial Profile 53/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Kyivstar Group Ltd.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Kyivstar Group Ltd.'s revenue surged 25.9% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 54/100.

Leverage

Kyivstar Group Ltd. carries a low D/E ratio of 0.63, meaning only $0.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Kyivstar Group Ltd.'s current ratio of 1.39 is below the typical benchmark, resulting in a score of 23/100. However, the company holds substantial cash reserves (91% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.

Cash Flow

Kyivstar Group Ltd. converts 26.9% of revenue into free cash flow ($311.0M). This strong cash generation earns a score of 98/100.

Returns

Kyivstar Group Ltd.'s ROE of 9.6% shows moderate profitability relative to equity, earning a score of 53/100. This is down from 26.2% the prior year.

Piotroski F-Score Neutral

5/9

Kyivstar Group Ltd. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

4.50x

For every $1 of reported earnings, Kyivstar Group Ltd. generates $4.50 in operating cash flow ($558.0M OCF vs $124.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.2B

YoY+25.9%

Kyivstar Group Ltd. generated $1.2B in revenue in fiscal year 2025. This represents an increase of 25.9% from the prior year.

EBITDA

N/A

Net Income

$124.0M

YoY-56.2%

Kyivstar Group Ltd. reported $124.0M in net income in fiscal year 2025. This represents a decrease of 56.2% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$311.0M

YoY+16.0%

Kyivstar Group Ltd. generated $311.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 16.0% from the prior year.

Cash & Debt

$455.0M

YoY-32.5%

Kyivstar Group Ltd. held $455.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

231M

Kyivstar Group Ltd. had 231M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

10.7%

YoY-20.1pp

Kyivstar Group Ltd.'s net profit margin was 10.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 20.1 percentage points from the prior year.

Return on Equity

9.6%

YoY-16.7pp

Kyivstar Group Ltd.'s ROE was 9.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 16.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$247.0M

YoY+52.5%

Kyivstar Group Ltd. invested $247.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 52.5% from the prior year.

KYIVW Income Statement

Metric	FY25	FY24	FY23
Revenue	$1.2B+25.9%	$919.0M+0.4%	$915.0M
Cost of Revenue	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A
Income Tax	$74.0M+15.6%	$64.0M-1.5%	$65.0M
Net Income	$124.0M-56.2%	$283.0M+0.7%	$281.0M
EPS (Diluted)	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q4'24	Q3'24
Revenue	N/A	$297.0M	N/A	$248.0M
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	N/A	$18.0M	N/A	$20.0M
Net Income	N/A	-$89.0M	N/A	$82.0M
EPS (Diluted)	N/A	N/A	N/A	N/A

KYIVW Balance Sheet

Metric	FY25	FY24	FY23
Total Assets	$2.1B-3.9%	$2.2B	N/A
Current Assets	$692.0M-42.7%	$1.2B	N/A
Cash & Equivalents	$455.0M-32.5%	$674.0M+58.6%	$425.0M
Inventory	$3.0M0.0%	$3.0M	N/A
Accounts Receivable	$37.0M-7.5%	$40.0M	N/A
Goodwill	$128.0M+814.3%	$14.0M-6.7%	$15.0M
Total Liabilities	$823.0M-27.1%	$1.1B	N/A
Current Liabilities	$498.0M-43.9%	$887.0M	N/A
Long-Term Debt	N/A	N/A	N/A
Total Equity	$1.3B+20.3%	$1.1B+21.8%	$887.0M
Retained Earnings	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q4'24	Q3'24
Total Assets	$2.1B+4.4%	$2.0B-8.0%	$2.2B	N/A
Current Assets	$692.0M+0.6%	$688.0M-43.0%	$1.2B	N/A
Cash & Equivalents	$455.0M-3.6%	$472.0M-30.0%	$674.0M+31.9%	$511.0M
Inventory	$3.0M+50.0%	$2.0M-33.3%	$3.0M	N/A
Accounts Receivable	$37.0M0.0%	$37.0M-7.5%	$40.0M	N/A
Goodwill	$128.0M+3.2%	$124.0M+785.7%	$14.0M0.0%	$14.0M
Total Liabilities	$823.0M+3.3%	$797.0M-29.4%	$1.1B	N/A
Current Liabilities	$498.0M+1.4%	$491.0M-44.6%	$887.0M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$1.3B+5.1%	$1.2B+14.4%	$1.1B+6.6%	$1.0B
Retained Earnings	N/A	N/A	N/A	N/A

KYIVW Cash Flow Statement

Metric	FY25	FY24	FY23
Operating Cash Flow	$558.0M+29.8%	$430.0M+4.1%	$413.0M
Capital Expenditures	$247.0M+52.5%	$162.0M+68.8%	$96.0M
Free Cash Flow	$311.0M+16.0%	$268.0M-15.5%	$317.0M
Investing Cash Flow	-$150.0M-13.6%	-$132.0M+59.6%	-$327.0M
Financing Cash Flow	-$626.0M-1591.9%	-$37.0M+58.0%	-$88.0M
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q4'24	Q3'24
Operating Cash Flow	$152.0M	N/A	$106.0M	N/A
Capital Expenditures	$91.0M	N/A	$53.0M	N/A
Free Cash Flow	$61.0M	N/A	$53.0M	N/A
Investing Cash Flow	-$146.0M	N/A	$75.0M	N/A
Financing Cash Flow	-$19.0M	N/A	-$16.0M	N/A
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

KYIVW Financial Ratios

Metric	FY25	FY24	FY23
Gross Margin	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A
Net Margin	10.7%-20.1pp	30.8%+0.1pp	30.7%
Return on Equity	9.6%-16.7pp	26.2%-5.5pp	31.7%
Return on Assets	5.8%-7.0pp	12.8%	N/A
Current Ratio	1.39+0.0	1.36	N/A
Debt-to-Equity	0.63-0.4	1.05	N/A
FCF Margin	26.9%-2.3pp	29.2%-5.5pp	34.6%

Metric	Q4'25	Q3'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	-30.0%	N/A	33.1%
Return on Equity	N/A	-7.2%	N/A	8.1%
Return on Assets	N/A	-4.4%	N/A	N/A
Current Ratio	1.39-0.0	1.40+0.0	1.36	N/A
Debt-to-Equity	0.63-0.0	0.64-0.4	1.05	N/A
FCF Margin	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Kyivstar Group Ltd.'s annual revenue?

Kyivstar Group Ltd. (KYIVW) reported $1.2B in total revenue for fiscal year 2025. This represents a 25.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Kyivstar Group Ltd.'s revenue growing?

Kyivstar Group Ltd. (KYIVW) revenue grew by 25.9% year-over-year, from $919.0M to $1.2B in fiscal year 2025.

Is Kyivstar Group Ltd. profitable?

Yes, Kyivstar Group Ltd. (KYIVW) reported a net income of $124.0M in fiscal year 2025, with a net profit margin of 10.7%.

What is Kyivstar Group Ltd.'s net profit margin?

Kyivstar Group Ltd. (KYIVW) had a net profit margin of 10.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Kyivstar Group Ltd.'s return on equity (ROE)?

Kyivstar Group Ltd. (KYIVW) has a return on equity of 9.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Kyivstar Group Ltd.'s free cash flow?

Kyivstar Group Ltd. (KYIVW) generated $311.0M in free cash flow during fiscal year 2025. This represents a 16.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Kyivstar Group Ltd.'s operating cash flow?

Kyivstar Group Ltd. (KYIVW) generated $558.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Kyivstar Group Ltd.'s total assets?

Kyivstar Group Ltd. (KYIVW) had $2.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Kyivstar Group Ltd.'s capital expenditures?

Kyivstar Group Ltd. (KYIVW) invested $247.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Kyivstar Group Ltd. have outstanding?

Kyivstar Group Ltd. (KYIVW) had 231M shares outstanding as of fiscal year 2025.

What is Kyivstar Group Ltd.'s current ratio?

Kyivstar Group Ltd. (KYIVW) had a current ratio of 1.39 as of fiscal year 2025, which is considered adequate.

What is Kyivstar Group Ltd.'s debt-to-equity ratio?

Kyivstar Group Ltd. (KYIVW) had a debt-to-equity ratio of 0.63 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Kyivstar Group Ltd.'s return on assets (ROA)?

Kyivstar Group Ltd. (KYIVW) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Kyivstar Group Ltd.'s Piotroski F-Score?

Kyivstar Group Ltd. (KYIVW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Kyivstar Group Ltd.'s earnings high quality?

Kyivstar Group Ltd. (KYIVW) has an earnings quality ratio of 4.50x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Kyivstar Group Ltd.?

Kyivstar Group Ltd. (KYIVW) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.