Kenya Airways (NAI:KQ) Shares Outstanding (EOP): 5,682 Mil (As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NAI:KQ Kenya Airways Plc NAI:KQ
64 GF Score
Price KES5.68
GF Value KES3.72
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Kenya Airways Shares Outstanding (EOP)?

Kenya Airways NAI:KQ +0.35% 64 Shares Outstanding (EOP) is 5,682 Mil as of Dec. 2025. GuruFocus rates NAI:KQ with a GF Score™ of 64/100 and a GF Value™ of KES3.72 (Significantly Overvalued). The stock has 7 warning signs investors should review.

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Kenya Airways's shares outstanding for the quarter that ended in Dec. 2025 was 5,682 Mil.

Kenya Airways's quarterly shares outstanding stayed the same from Dec. 2024 (5,682 Mil) to Dec. 2025 (5,682 Mil).

Kenya Airways's annual shares outstanding stayed the same from Dec. 2024 (5,682 Mil) to Dec. 2025 (5,682 Mil).


Kenya Airways  (NAI:KQ) Shares Outstanding (EOP) Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


Kenya Airways Shares Outstanding (EOP) Related Terms


Kenya Airways Shares Outstanding (EOP) Historical Data

* Premium members only.

The historical data trend for Kenya Airways's Shares Outstanding (EOP) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Kenya Airways Shares Outstanding (EOP) Chart

Kenya Airways Annual Data
Trend Mar16 Mar17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Shares Outstanding (EOP)
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5,681.74 5,681.74 5,681.74 5,681.74 5,681.74

Kenya Airways Semi-Annual Data
Mar15 Sep15 Mar16 Sep16 Mar17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Dec25
Shares Outstanding (EOP) Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5,681.74 5,681.74 5,681.74 5,681.74 5,681.74

NAI:KQ vs DAL, UAL, LUV: Shares Outstanding (EOP) Comparison

For the Airlines subindustry, Kenya Airways's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Kenya Airways Shares Outstanding (EOP) vs Transportation Industry

For the Transportation industry and Industrials sector, Kenya Airways's Shares Outstanding (EOP) distribution charts can be found below:

* The bar in red indicates where Kenya Airways's Shares Outstanding (EOP) falls into.


NAI:KQ
64GF Score
Kenya Airways Plc NAI:KQ
Shares Outstanding (EOP) is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kenya Airways Shares Outstanding (EOP) Calculation

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.

Please note: GuruFocus named Shares Outstanding (EOP) is the shares for that end of period. It is usually used to calculate balance sheet related items, such as Book Value per Share, etc. While Shares Outstanding (Diluted Average) and Shares Outstanding (Basic Average) are the weighted average shares over a period of time (a year, a quarter, or so). They are usually used to calculate income statement or cashflow statement related items, such as Earnings per Share (Diluted), etc.

What does a Shares Outstanding (EOP) of 5,682 Mil mean?
Kenya Airways (NAI:KQ) has a Shares Outstanding (EOP) of 5,682 Mil as of Dec. 2025. The total shares a company has outstanding, at period-end. View historical data on Kenya Airways and its competitors.
Is Kenya Airways' Shares Outstanding (EOP) too high?
Kenya Airways' current Shares Outstanding (EOP) is 5,682 Mil. Overall, Kenya Airways has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kenya Airways' Shares Outstanding (EOP) compare to DAL and UAL?
Kenya Airways' Shares Outstanding (EOP) of 5,682 Mil can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for a Transportation company?
A good Shares Outstanding (EOP) depends on the Transportation industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on Kenya Airways and its competitors. Kenya Airways's current Shares Outstanding (EOP) is 5,682 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kenya Airways stock overvalued right now?
Based on GuruFocus' analysis, Kenya Airways (NAI:KQ) is currently considered Significantly Overvalued. The stock's GF Value™ is KES3.72, compared to a current price of KES5.68 — trading 52.7% above its estimated fair value. The current Shares Outstanding (EOP) is 5,682 Mil. Kenya Airways' overall GF Score™ is 64/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For Kenya Airways (NAI:KQ), the current Shares Outstanding (EOP) is 5,682 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Kenya Airways (NAI:KQ) Overvalued in 2026?

Based on GuruFocus' analysis, Kenya Airways stock appears to be overvalued. The current stock price of KES5.68 is trading 52.7% above its estimated GF Value™ of KES3.72. GuruFocus considers Kenya Airways to be Significantly Overvalued.

Key valuation signals for NAI:KQ:

  • Shares Outstanding (EOP): 5,682 Mil
  • GF Value™: KES3.72 vs. price of KES5.68 (52.7% above fair value)
  • GF Score™: 64/100 with 7 warning signs

No single metric tells the full story. See the NAI:KQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kenya Airways Business Description

Address Airport North Road, P.O Box 19002, Embakasi, Nairobi, KEN, 00501
Kenya Airways Plc is engaged in the international, regional, and domestic carriage of passengers and cargo by air, the provision of ground handling services to other airlines, and the handling of import and export cargo. The company's segments include passengers, freight, mail, handling, and others. It operates domestic flights and flies to Africa, the Middle East, Asia, America, and Europe. The company is engaged in four business segments: Passenger, Freight and Mail, Handling, and Other revenue. Key revenue is generated from the Passenger segment.
64GF Score

Get the complete analysis for NAI:KQ

Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

KES5.68
Price
KES3.72
GF Value