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.
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.
Kcell JSCXKAZ:KCEL -0.34%55 Return-on-Tangible-Equity is 19.17% as of Mar. 2026, which is 51% below its 10-year median of 39.51. GuruFocus rates XKAZ:KCEL with a GF Score™ of 55/100 and a GF Value™ of ₸3,654.12 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 328 Telecommunication Services companies, Kcell JSC ranks better than 57.32% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Kcell JSC's annualized net income for the quarter that ended in Mar. 2026 was ₸17,176 Mil. Kcell JSC's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₸89,582 Mil. Therefore, Kcell JSC's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 19.17%.
The historical rank and industry rank for Kcell JSC's Return-on-Tangible-Equity or its related term are showing as below:
XKAZ:KCEL'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 18.17 Med: 39.51 Max: 66.11
Current: 20.87
During the past 13 years, Kcell JSC's highest Return-on-Tangible-Equity was 66.11%. The lowest was 18.17%. And the median was 39.51%.
XKAZ:KCEL's Return-on-Tangible-Equity is ranked better than 57.32% of 328
companies
in the Telecommunication Services industry
Industry Median: 14.525
vs XKAZ:KCEL: 20.87
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Kcell JSC Return-on-Tangible-Equity Related Terms
Kcell JSC Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Kcell JSC's Return-on-Tangible-Equity 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.
XKAZ:KCEL vs VZ, TMUS, T: Return-on-Tangible-Equity Comparison
For the Telecom Services subindustry, Kcell JSC's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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.
Kcell JSC Return-on-Tangible-Equity vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Kcell JSC's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Kcell JSC's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 19.17% mean?
Kcell JSC (XKAZ:KCEL) has a Return-on-Tangible-Equity of 19.17% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Kcell JSC and its competitors. This is 51% below median its historical median of 39.51. Over the past decade, Kcell JSC's Return-on-Tangible-Equity has ranged from 18.17 to 66.11. According to the industry distribution chart, Kcell JSC ranks #140 out of 328 companies in the Telecommunication Services industry, placing it in the top 42.7%.
Is Kcell JSC's Return-on-Tangible-Equity too high?
Kcell JSC's current Return-on-Tangible-Equity of 19.17% is 51% below median its 10-year median of 39.51. Over the past 10 years, this metric has ranged from a low of 18.17 to a high of 66.11. The Telecommunication Services industry median Return-on-Tangible-Equity is 14.53. Kcell JSC's value of 19.17% is 32% above this industry median. Based on the distribution chart, Kcell JSC ranks #140 out of 328 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Kcell JSC has a GF Score™ of 55/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kcell JSC's Return-on-Tangible-Equity compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Kcell JSC ranks #140 out of 328 companies for Return-on-Tangible-Equity. This puts Kcell JSC in the upper half of its industry. The industry median Return-on-Tangible-Equity is 14.53. Kcell JSC's value of 19.17% is 32% above this benchmark. Historically, Kcell JSC's own Return-on-Tangible-Equity has ranged from 18.17 to 66.11 over the past decade. While the company's 10-year median is 39.51 vs. the industry median of 14.53, Kcell JSC has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for a Telecommunication Services company?
The median Return-on-Tangible-Equity among Telecommunication Services companies is 14.53, based on 328 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Kcell JSC's current Return-on-Tangible-Equity of 19.17% is 32% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Kcell JSC and its competitors. For the Telecommunication Services industry, the median Return-on-Tangible-Equity is 14.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kcell JSC's current Return-on-Tangible-Equity is 19.17%, which is 51% below median its own 10-year median of 39.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kcell JSC stock overvalued right now?
Based on GuruFocus' analysis, Kcell JSC (XKAZ:KCEL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₸3,654.12, compared to a current price of ₸3,215.02 — trading 12% below its estimated fair value. The current Return-on-Tangible-Equity is 19.17%, which is 51% below median its 10-year median of 39.51 and 32% above the Telecommunication Services industry median of 14.53. Kcell JSC's overall GF Score™ is 55/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Kcell JSC (XKAZ:KCEL), the current Return-on-Tangible-Equity is 19.17% as of Mar. 2026. 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 Kcell JSC (XKAZ:KCEL) Overvalued in 2026?
Based on GuruFocus' analysis, Kcell JSC stock appears to be undervalued.
The current stock price of ₸3,215.02 is trading 12% below its estimated GF Value™ of ₸3,654.12.
GuruFocus considers Kcell JSC to be Modestly Undervalued.
Key valuation signals for XKAZ:KCEL:
Return-on-Tangible-Equity: 19.17% (51% below median its 10-year median of 39.51)
GF Value™: ₸3,654.12 vs. price of ₸3,215.02 (12% below fair value)
Industry Position: 32% above the Telecommunication Services median (#140 of 328)
No single metric tells the full story. See the XKAZ:KCEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kcell JSC is a Kazakhstan-based company. It is engaged in providing mobile telecommunications services to both individuals and organizations including voice, SMS, MMS and data transmission. It offers Internet access and value-added services, including mobile content. The company is involved in designing, constructing and operating a cellular telecommunications network in the Republic of Kazakhstan using GSM (Global System for Mobile Communications) standard. It operates its business through Kcell which targets the mass market, corporate subscribers, public organizations as well as high-net-worth individuals. The company generates revenue from the sale of voice and other services, data service, handsets, and value-added services.
55GF Score
Get the complete analysis for XKAZ:KCEL
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKAZ:KCEL has been successfully added to your 
