Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz

KSPI
Joint Stock Company Kaspi.kzUS flagNASDAQ Global Select
92.79
USD
-1.07
- -
17.63BMarket Cap
Joint Stock Company Kaspi.kz
KSPI
(NASDAQ Global Select)

Recent

price

92.79

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
23,147.15
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
5,625.84
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
5,010.89
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
806.68
1,150.04
1,099.97
1,522.56
2,039.14
2,600.21
4,304.37
5,694.31
7,984.73
13,099.25
13,888.09
Book Value per Share
771.12
1,107.19
1,057.72
1,479.78
1,987.9
2,526.62
4,223.96
5,347.33
7,492.55
8,643.59
11,472.03
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
4,402,120
Sales/Revenue/Turnover
5.87
32.45
36.75
47.62
50.02
59.98
56.15
52.84
50.42
32.61
36.37
Operating Margin (%)
- -
- -
- -
1,709
2,035
1,876
2,849
- -
- -
- -
6,451
Depreciation Expense
5,269
65,278
105,540
193,790
260,964
431,914
585,026
841,351
1,039,739
1,073,177
1,069,921
Net Income, GAAP
35.36
15.91
17.83
17.57
17.14
17.7
18.28
16.95
17.58
19.84
21.21
Effective Tax Rate (%)
2.31
23.09
27.8
36.94
40.3
48.55
46.65
44.51
41.24
26.64
24.3
Profit Margin (%)
-649,911
216,392
14,032
438,559
458,020
617,894
-407,882
-670,914
1,322,330
1,850,480
2,190,195
Working Capital
245,507
268,114
227,746
219,360
154,742
221,520
21,681
154
75,524
369,760
612,311
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
2,730,505
Total Equity
- -
18.17
24.96
41.88
46.15
60.05
59.33
67.69
66.34
42.82
41.77
Return on Invested Capital (%)
- -
13.98
21.85
38.96
44.74
59.41
60.93
68.97
65.56
44.33
43.01
Return on Capital (%)
- -
31.81
55.17
78.53
76.4
96.97
88.71
88.69
80.12
53.54
46.58
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
100,816
76,845
76,985
LT Borrowings
348,175
334,794
612,311
LT Finance Leases
21,585
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
190
190
190
Market Capitalization
7,548,252
6,741,053
7,882,133

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
9,844,766
9,731,004
10,626,586
Cash, Cash Equivalents & STI
2,058,425
1,982,284
2,550,811
Accounts Receivable, Net
26,379
- -
- -
Inventories
124,522
105,997
110,641
Total Current Liabilities
7,994,286
7,705,942
8,436,391
Payables & Accruals
7,834,773
7,629,097
8,359,406
ST Debt
100,816
76,845
76,985
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
551,023
592,853
652,592
724,459
2,520,927
2025
816,048
969,512
1,098,762
1,143,502
4,027,824
2026
1,055,825
1,104,031
- -
- -
- -

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
1,352
- -
- -
- -

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

  • Kaspi.kz: Strong, Growing, And Underappreciated

  • Announcement of EGM Results

  • Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Sets New 12-Month High – Still a Buy?

  • Kaspi.Kz: Rabobank Acquisition Unlocks Flywheel Opportunity In Turkey

  • Joint Stock Company Kaspi.kz (KSPI) Q2 2026 Earnings Call Transcript

  • Joint Stock Company Kaspi.kz Q2 Earnings Call Highlights

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

  • Kaspi.kz 2Q & 1H 2026 Financial Results

  • Kaspi.kz: Betting On A Proven Playbook In A Much Larger Market

  • Kaspi.kz: Kazakhstan Is The Moat, Türkiye Is The Test

  • Joint Stock Company Kaspi.kz Sponsored ADR $KSPI Shares Sold by Amova Asset Management Americas Inc.

  • Is Ingram Micro Holding Corporation (INGM) Stock Outpacing Its Business Services Peers This Year?

  • Kaspi.kz Completes Acquisition of Rabobank A.Ş. in Türkiye

  • Watch the Kaspi Event: Mikheil Lomtadze Unveils Kasper

  • Are Business Services Stocks Lagging Ingram Micro Holding Corporation (INGM) This Year?

  • Kaspi.kz receives regulatory approval to acquire Rabobank A.Ş. in Türkiye

  • Announcement of EGM Results

  • Down 9.6% in 4 Weeks, Here's Why You Should You Buy the Dip in Joint Stock Company Kaspi.kz Sponsored ADR (KSPI)

  • Kaspi.kz: Ownership Change Drives Stock Rally

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