Technology
Joint Stock Company Kaspi.kz(KSPI)
Live Price
Offline$83.29
+3.39% today
1Y Change
+4.46%
Window
Jun 25, 2025 โ Jun 24, 2026
- Market Cap
- $7.63T
- Revenue Growth
- +56.1%
- EPS Growth
- -0.2%
- Dividend Yield
- 2.0%
Coverage: 250 bars ยท Jun 25, 2025 โ Jun 24, 2026
Research Briefing
A compact read on the setup, peer context, quarterly changes, and recent earnings reaction.
Research Snapshot
Joint Stock Company Kaspi.kz (KSPI) is a Technology stock with a market cap of $7.63T and listed on NASDAQ. The stock last traded around $83.29 and up 4.5% across the available one-year price window (Jun 25, 2025 โ Jun 24, 2026). Baseline metrics include revenue growth of +56.1%, EPS growth of -0.2%, a dividend yield of 2.0%. What stands out right now is revenue +56.1%, EPS -0.2%, free cash flow +196.5% with operating margin 45.6% and ROIC 13.2%. The dividend is present but secondary, with a yield around 2.0%. Valuation is more restrained than many high-expectation growth names at P/E 7.2 and price/sales 1.9. Overall, the current profile looks closer to a turnaround or cyclical reset than a generic broad-market placeholder. Stock Foundry combines KSPI price history, valuation, growth, dividend context, earnings, analyst forecasts, news, related Technology peers on this page.
Sector Context
How this name stacks up against nearby peers on first-pass metrics.
Revenue Growth
Above sector median
+56.1% vs +11.9% peer median
Operating Margin
Above sector median
+45.6% vs +22.0% peer median
P/E
Below sector median
7.2 vs 18.5 peer median
What Changed This Quarter
Latest report context and the signals most likely to have changed the story.
Latest report is on the board
2026 was reported on May 15, 2026, but the surprise data is still limited.
The operating picture looks softer than before
Revenue is at +56.1% and EPS is at -0.2%, with operating margin around 45.6%.
Shareholder return is still part of the story
The stock is still offering a dividend yield around 2.0%, which matters if the thesis depends on income as much as growth.
Earnings Reaction Memory
How the stock has tended to move after recent reports.
Across the last 3 reported quarters, the stock averaged +2.7% over the next 5 trading days and finished higher after 2 of those reports.
View quarter-by-quarter reaction table
| Quarter | EPS ฮ | 1D | 5D | 20D |
|---|---|---|---|---|
2026 May 15, 2026 | โ | +1.6% | +4.6% | -4.9% |
2026 Mar 13, 2026 | -13.8% | +4.2% | +4.8% | +15.5% |
2025 Nov 10, 2025 | -36.9% | +1.8% | -1.5% | -0.2% |
Benchmark Edge
KSPI vs SPY, QQQ, and Sector ETFs
Normalized return, excess return, max drawdown, and calendar-year wins against the benchmarks investors actually use.
KSPI
โ
Normalized return
SPY
--
S&P 500
Excess Return
--
Relative to SPY
KSPI Max Drawdown
-29.55%
Trailing 1Y
SPY Max Drawdown
โ
Trailing 1Y
Calendar-Year Returns
Uses the longest available daily history for KSPI and SPY.
Company Overview
Joint Stock Company Kaspi.kz
NASDAQ Global Select
Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in the Republic of Kazakhstan. It operates through three segments: Payments Platform, Marketplace Platform, and Fintech Platform. The Payments Platform segment facilities transactions between customers and merchants. This segment offers shopping transactions, regular household bills, and peer to peer payments for consumers; accepts payment online and in store, issue and settle invoices, pay suppliers and monitor merchant turnover. It also provides proprietary data facilities informed decision making across multiple areas of business. Its Marketplace Platform segment connects online, and offline merchants and consumers enabling merchants to enhance its sales through an omni channel strategy and enable consumers to buy products and services from various merchants. This segment also operates marketplace through m-commerce, a mobile solution for shopping in person which consumers can use e-commerce to shop anywhere, anytime with free delivery; Kaspi Travel allows consumers to book domestic and international flights and package holidays, domestic rail tickets. It also enhances merchants sales by connecting payments and fintech products, Kapsi advertising, and other delivery services. The Fintech Platform segment provides consumers with BNPL, finance, and savings products and merchants with merchant finance services through super apps and Kapsi.kz Super app. It also involved in the banking; distressed asset management; real estate business; payment processing; online travel; and storage and processing of information services. The company was incorporated in 2008 and is headquartered in Almaty, the Republic of Kazakhstan.
- Leadership
- Mikheil N. Lomtadze
- IPO Date
- Jul 23, 2018
- Employees
- 7.8k
- Street Address
- 154A Nauryzbai Batyr Street
- Mailing
- Almaty, 050013
- Region
- Almaty, KZ
- Reporting Currency
- USD
- Investor Line
- 7 7273306710
- Last Updated
- May 1, 2026
Key Fundamentals
Valuation, growth, profitability, and balance sheet signals.
Valuation
- P/E
- 7.2
- EV/EBITDA
- 4.9
- Price/Sales
- 1.9
- Price/Book
- 3.1
Growth
- Revenue
- +56.1%
- EPS
- -0.2%
- Free Cash Flow
- +196.5%
Profitability
- Gross Margin
- 67.1%
- Operating Margin
- 45.6%
- Net Margin
- 26.3%
- ROE
- 50.1%
- ROIC
- 13.2%
Balance Sheet
- Debt/Equity
- 0.14
- Current Ratio
- โ
Earnings Reports
Latest News
Official Releases
Company announcements and filings-style updates.
Next Step
Keep the research moving
After the overview, the strongest next step is usually chart context or a tighter compare set.