Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.20, read 2026-11-03
Ethical passes the values gate
Price13.33 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-10-28Read Markup13.20+1.0% to today ✓Markdown gives way to Markup after a 7% slide in 12 weeks
2026-08-04Read Markdown14.21-6.2% to today ✓Markup gives way to Markdown
2026-07-02Read Markup13.63-2.2% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Kyivstar Group Ltd. holds its Markup at $13.33. The statistical read favours the buyers, held for 5 days.
As held on the ledger · 2026-11-03
Phase
Markup
Quantitative state
The statistical read favours the buyers, held for 5 days
Price at the screen
$13.33
Valuation
18.86 trailing · 0.21 forward price to earnings
Values screen
PASS· score 70.0
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
15.36%
Below 33%
Interest-bearing debt is just 15.4% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
13.55%
Below 33%
Cash held in interest-bearing accounts and securities is 13.5% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
1.04%
Below 5%
Only 1.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Kyivstar clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 15%, inside the ~33% line, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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Get an email when KYIV's ethical verdict changes
Today KYIV passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Its inputs are 11 days old. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Connecting Ukraine While The Market Looks Away
When missiles fly and power grids fail, people still need mobile networks to coordinate, check on family and keep small businesses alive. Kyivstar delivers exactly that service across Ukraine. The business is growing revenue 27% a year, posting a 13% profit margin and trading on a forward multiple of just 0.2 times earnings, which leaves a 40% gap to the calculated fair value of 19.96 dollars from the current price of 14.21.
Ten analysts carry a strong buy consensus with a median target of 18 dollars. The moderate moat, 13% return on equity and clean pass on the ethical screen all line up behind the numbers. This is the kind of setup that appears when headline risk swamps the underlying cash flow.
Risks sit around the obvious. War damage, currency swings and sudden regulatory moves in an emerging market can derail even steady operators quickly. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to United Arab Emirates and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
KYIV trades on Nasdaq (the company is based in United Arab Emirates). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markup$13.33+1.0%Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 1.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-10-28Markup · changed$13.20+7.4%Entry 9
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.4% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-10-21Markdown$12.29+1.5%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 1.5% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-10-14Markdown$12.11-7.0%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-10-02Markdown$13.02+0.9%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-09-03Markdown$12.90-9.2%Entry 5
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 9.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading overbought. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-08-04Markdown · changed$14.21+4.3%Entry 4
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 4.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-07-18Markup$13.63+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is momentum reading overbought. Over the past year the shares are up 21%. Our forward projection puts the odds of a 10% gain over the next month near 32%. The street (9 analysts) rates it strong buy, with a mean price target of $18.
2026-07-03Markup$13.63+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$13.63Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.