Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz

KSPI
Joint Stock Company Kaspi.kzUS flagNASDAQ Global Select
85.63
USD
-3.01
- -
16.27BMarket Cap
Joint Stock Company Kaspi.kz
KSPI
(NASDAQ Global Select)

Recent

price

85.63

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1,444.95
1,793.48
2,011.14
2,779.24
3,375.95
4,628.65
6,541.69
9,956.23
13,279.78
21,134.38
22,534.14
Revenue per Share
26.38
310.92
559.16
1,026.71
1,360.57
2,247.36
3,051.38
4,431.43
5,477.15
5,631.06
5,621.54
Basic EPS, GAAP
440.48
864.9
130.68
1,480.35
3,125.78
236.49
5,015.07
5,561.31
2,561.03
2,576.84
3,655.62
Free Cash Flow per Basic Share
- -
96.14
- -
517.6
914.3
1,770.99
1,095.85
2,950.24
3,403.3
- -
- -
Dividend per Share
807.39
1,125
1,047.31
1,542.03
1,963.73
2,643.24
4,655.85
6,241.91
8,404.48
14,030.36
15,235.92
Book Value per Share
834.87
1,167.83
1,092.35
1,522.75
2,006.37
2,552.47
4,226.81
5,464.65
7,792.88
9,203.34
12,216.84
Tangible Book Value per Share
158
158
189
189
192
192
192
190
190
191
190
Basic Weighted Avg Shares
227,790
282,734
379,600
524,578
647,524
889,568
1,254,208
1,890,290
2,520,927
4,027,824
4,291,195
Sales/Revenue/Turnover
5.87
32.45
36.75
47.62
50.02
59.98
56.15
52.84
50.42
32.61
36.15
Operating Margin (%)
- -
- -
- -
1,709
2,035
1,876
2,849
- -
- -
- -
6,199
Depreciation Expense
5,269
65,278
105,540
193,790
260,964
431,914
585,026
841,351
1,039,739
1,073,177
1,070,515
Net Income, GAAP
35.36
15.91
17.83
17.57
17.14
17.7
18.28
16.95
17.58
19.84
20.88
Effective Tax Rate (%)
2.31
23.09
27.8
36.94
40.3
48.55
46.65
44.51
41.24
26.64
24.95
Profit Margin (%)
-649,911
216,392
14,032
438,559
458,020
617,894
-407,882
-670,914
1,322,330
1,850,480
2,025,062
Working Capital
245,507
268,114
227,746
219,360
154,742
221,520
21,681
154
75,524
369,760
334,794
LT Debt
137,215
190,852
213,918
295,622
394,660
504,695
825,689
1,103,213
1,572,861
2,601,577
2,775,068
Total Equity
- -
18.17
24.96
41.88
46.15
60.05
59.33
67.69
66.34
42.82
43.99
Return on Invested Capital (%)
- -
14.03
22.03
39.15
45.35
59.67
58.42
64.18
61.89
42.08
41.94
Return on Capital (%)
- -
32.18
56.28
79.3
78.17
97.65
83.54
80.99
74.79
50.27
44.93
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
100,816
76,845
LT Borrowings
438,054
348,175
334,794
LT Finance Leases
- -
21,585
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
191
190
190
Market Capitalization
8,550,309
7,557,739
6,755,370

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
9,064,035
9,844,766
9,731,004
Cash, Cash Equivalents & STI
1,771,705
2,058,425
1,982,284
Accounts Receivable, Net
- -
26,379
- -
Inventories
142,275
124,522
105,997
Total Current Liabilities
7,380,265
7,994,286
7,705,942
Payables & Accruals
7,380,265
7,834,773
7,629,097
ST Debt
- -
100,816
76,845
Deferred Revenue
- -
58,697
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
46.61%
65.4%
Free Cash Flow
- -
376%
1.01%
Net Income, GAAP
- -
34.31%
3.22%
Sales/Revenue/Turnover
- -
44.45%
59.78%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
552,814
592,853
652,592
724,459
2,520,927
2025
821,851
969,512
1,098,762
1,143,502
4,027,824
2026
1,079,419
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,160.19
1,256
1,419
1,641.42
5,477.15
2025
1,326.5
1,348
1,465
1,494.92
5,631.06
2026
1,313.49
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
849.81
850
3,403.3
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Joint Stock Company Kaspi.kz Joint Stock Company Kaspi.kz (Ticker: KSPI) operates an integrated digital ecosystem offering payments, marketplace, and fintech platforms primarily to consumers and merchants through its proprietary Super App. The company provides a comprehensive suite of services including peer-to-peer and merchant payments, bill payments, money transfers, and invoice settlement in the Payments Platform; omnichannel e-commerce via Kaspi Shop with over 4 million products from thousands of sellers, m-commerce, e-commerce with free delivery, Kaspi Travel for flights, rail tickets, and package holidays, plus advertising and delivery services in the Marketplace Platform; and consumer finance products such as buy-now-pay-later loans, deposits, savings, and merchant finance in the Fintech Platform, supported by real-time credit decisions and banking, distressed asset management, real estate, payment processing, e-grocery, classifieds, and data analytics services. Kaspi.kz serves over 14 million monthly active customers and 700,000 entrepreneurs mainly in Kazakhstan, with expansion into Azerbaijan, Ukraine, and Türkiye, and maintains headquarters in Almaty, Kazakhstan, where it was founded in 2008. Recent major developments include the January 2025 completion of a controlling 66.35% acquisition of Hepsiburada, a leading Turkish e-commerce platform, for approximately $1.13 billion to extend its marketplace into a 100 million-person market; and a March 2025 agreement to acquire Rabobank A.Ş., a Turkish bank subsidiary, to bolster fintech and payments capabilities while preserving distinct brands and operations in new regions.

Company News

APIChat
  • Kaspi.kz: Ownership Change Drives Stock Rally

  • Notice of Extraordinary General Meeting of Shareholders of Kaspi.kz

  • Joint Stock Company Kaspi.kz (KSPI) Q1 2026 Earnings Call Transcript

  • Joint Stock Company Kaspi.kz Q1 Earnings Call Highlights

  • Kaspi.kz 1Q 2026 Financial Results

  • Kaspi.kz Successfully Issues $600 million of 5.900% Senior Unsecured Notes due 2031

  • Kaspi.Kz: Tencent Sees It, The Numbers Confirm It (Rating Upgrade)

  • Joint Stock Company Kaspi.kz Sponsored ADR (KSPI) Moves 8.1% Higher: Will This Strength Last?

  • Tencent Invests in Kaspi.kz Alongside Co-Founder & CEO Mikheil Lomtadze and Long-Term U.S. Institutional Investors

  • Announcement of AGM Results

  • Kaspi.kz to Announce 1st Quarter 2026 Financial Results on 11th May

  • Head-To-Head Contrast: Marqeta (NASDAQ:MQ) vs. Joint Stock Company Kaspi.kz (NASDAQ:KSPI)

  • What Moved Markets This Week

  • Kaspi.Kz: A Dominant Super App Cheaper Than PayPal

  • Kazakhstan's Petro-Economy Status Makes Kaspi.kz Tactically Sensible (Upgrade)

  • Kaspi.kz Files Annual Report on Form 20-F

  • Kaspi.kz: Kazakhstan Relies On E-Commerce

  • Kaspi.kz: The Floor Is The Dividend, The Upside Is Turkey

  • Notice of Annual General Meeting of Shareholders of Kaspi.kz

  • Joint Stock Company Kaspi.kz Q4 Earnings Call Highlights