Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz

KSPI · NASDAQ · Technology / Software - Infrastructure

89.91USD+1.27 (+1.43%)

Price History

Full chart

Market Stats

Previous Close88.64
Open89.00
Day Range88.38 – 89.92
52-Week Range64.24 – 107.58
Volume521.56K
Market Cap17.52B
P/E (TTM)8.45
Forward P/E0.00
EPS10.91
Dividend Yield6.15%
Beta0.23
50-Day Avg97.26
200-Day Avg86.55

About

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine. The company operates through three segments: Payments, Marketplace, and Fintech. The Payments segment offers a platform that facilities transactions between and among merchants and consumers. This segment provides ways for consumers to pay for shopping transactions and regular household bills, as well as make peer to peer payments; and enables merchants to accept payment online and in store, issue and settle invoices, pay suppliers, and monitor merchant turnover. It also offers proprietary data, which facilitates informed decision-making across multiple areas of business. Its Marketplace Platform segment connects both online and offline merchants with consumers, enabling merchants to increase sales through an omnichannel strategy and allowing consumers to purchase products and services from various merchants. This segment operates marketplaces through m-commerce, a mobile solution for shopping in person; e-Commerce, which allows consumers to shop anywhere and anytime with free delivery; and Kaspi Travel that allows consumers to book domestic and international flights, domestic rail tickets, and international package holidays. It also enhances merchants' sales by connecting payments and fintech products, Kapsi advertising, and other delivery services. The Fintech Platform segment provides consumers with buy-now-pay-later, finance and savings products, and merchants with merchant finance services. It also involved in the banking; distressed asset management; real estate business; payment processing; online travel; e-grocery; classifieds; and storage and processing of information services. Joint Stock Company Kaspi.kz was incorporated in 2008 and is headquartered in Almaty, the Republic of Kazakhstan.

Company Details

  • SectorTechnology
  • IndustrySoftware - Infrastructure
  • CEOMr. Mikheil N. Lomtadze
  • Employees14.01K
  • Headquarters154A, Nauryzbai Batyr Street, Almaty, Kazakhstan, 050013, USA
  • Websitehttps://ir.kaspi.kz

Leadership

  • Mr. Mikheil N. LomtadzeCo-Founder, Executive Director, Chairman of the Management Board & CEO · b. 1975
  • Mr. Tengiz MosidzeDeputy Chairman of the Management Board & CFO · b. 1974
  • Mr. Yuri DidenkoDeputy Chairman of the Management Board & Capital Markets · b. 1974
  • Mr. Pavel MironovCOO & Deputy Chairman of the Management Board · b. 1979
  • Ms. Nailya A. UalibekovaChief Accountant
  • Mr. David FergusonHead of Investor Relations · b. 1979
  • Mr. Sabyrzhan BerkinbaevHead of Local Legal · b. 1981
  • Mr. Arseniy KochetkovHead of Kaspi Marketing Services
  • Mr. Oleg BakhmutovHead of People · b. 1982
  • Mr. Kanat AitenovHead of Network · b. 1985

Financials

Income Statement

Currency: KZT2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue524.58B647.52B885.48B1.27T1.89T2.52T3.94T
Growth (%)-+23.44%+36.75%+43.34%+48.93%+33.36%+56.09%
Cost of Revenue174.19B199.31B73.37B103.89B671.84B949.47B1.04T
Gross Profit350.39B448.21B812.11B1.17T1.22T1.57T2.89T
Gross Margin66.80%69.22%91.71%91.81%64.46%62.34%73.55%
Operating Expense111.25B130.39B76.78B114.80B219.65B300.40B1.60T
Operating Income239.14B317.82B735.33B1.05T998.80B1.27T1.30T
Operating Margin45.59%49.08%83.04%82.77%52.84%50.42%32.92%
EBITDA251.51B333.08B713.02B1.02T1.02T1.28T2.18T
EBITDA Margin47.95%51.44%80.52%80.01%54.07%50.87%55.38%
Net Income193.79B260.96B431.91B585.03B841.35B1.04T1.04T
Net Income Margin36.94%40.30%48.78%46.09%44.51%41.24%26.39%
R&D20.33B30.82B44.39B60.81B88.66B109.55B208.58B
R&D as % of Total Revenue3.88%4.76%5.01%4.79%4.69%4.35%5.30%
Interest Expense------883.76B
Interest Expense % of Total Revenue------22.46%

Balance Sheet

Currency: KZT2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets2.19T2.81T3.61T5.12T6.82T8.38T11.08T
Total Liabilities1.89T2.41T3.10T4.30T5.72T6.80T8.48T
Total Equity292.04B391.12B499.73B819.16B1.08T1.52T2.49T
Cash239.14B330.41B342.10B615.36B820.47B619.47B903.14B
Total Debt232.47B233.09B310.46B267.06B222.16B221.46B470.58B
Net Debt-6.67B-97.32B-31.64B-348.30B-598.31B-398.01B-432.57B

Cash Flow

Currency: KZT2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow296.35B617.73B70.35B1.02T1.11T581.89B673.61B
Investing Cash Flow-112.86B-364.71B289.75B-487.16B-218.36B-108.36B-507.80B
Financing Cash Flow-112.24B-177.49B-352.58B-275.91B-675.97B-709.77B150.25B
Capital Expenditure16.93B18.19B24.90B59.47B50.26B95.73B182.51B
Free Cash Flow279.42B599.54B45.45B961.52B1.06T486.17B491.10B
Dividends Paid97.70B175.37B340.36B210.10B560.13B646.06B0
FCF to OCF94.29%97.06%64.60%94.18%95.46%83.55%72.91%
Dividend Paid to FCF34.96%29.25%748.87%21.85%53.05%132.89%0.00%

Earnings

Report DateMar 1, 2021Apr 26, 2021Jul 26, 2021Oct 25, 2021Feb 28, 2022Apr 25, 2022Jul 25, 2022Oct 24, 2022Feb 27, 2023Apr 24, 2023Jul 24, 2023Oct 23, 2023Feb 26, 2024Apr 30, 2024Aug 1, 2024Oct 29, 2024Feb 25, 2025May 16, 2025Aug 4, 2025Nov 13, 2025Mar 13, 2026May 14, 2026Aug 10, 2026Nov 9, 2026
EPS Estimate---------883.62921.20926.681277.611129.381331.521395.891705.851389.051434.661571.181609.421226.712.783.12
EPS Actual504.00496.00640.00813.00886.00622.00833.00980.001120.00903.001005.00852.002.711151.001246.001409.001625.001321.001367.001458.001470.001335.652.83-
Surprise---------2.19%9.10%-8.06%-99.79%1.91%-6.42%0.94%-4.74%-4.90%-4.72%-7.20%-8.66%8.88%1.80%-
Timing------------After-hoursAfter-hoursPre-marketAfter-hoursPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-marketPre-market

Key Statistics & Ratios

Market Cap17.52B
Enterprise Value12.86B
Trailing P/E8.45
Forward P/E0.00
Price / Sales1.91
Price / Book3.15
EPS10.91
Book Value11,908.49
Revenue (TTM)3.64T
Gross Profit (TTM)2.70T
EBITDA2.48T
Profit Margin24.15%
Operating Margin0.00%
Return on Equity44.78%
Return on Assets13.54%
Shares Outstanding190.03M
Shares Float104.70M
Beta0.23
Dividend Yield6.15%
Dividend Rate5.74
Payout Ratio0.20%

Analyst Ratings

Buy
Based on 7 analystsTarget 104.86
  • Strong Buy
    4
  • Hold
    3

Ownership Breakdown

Institutions
47.23%
Insiders
20.38%
Retail / Other
32.39%

Top Institutional Holders

  • Brehaut David Pascal
    12.26M6.45%
  • Baillie Gifford & Co Limited.
    5.78M3.04%
  • Fidelity International Ltd
    3.64M1.91%
  • Pzena Investment Management, LLC
    3.07M1.62%
  • Spice Expeditions, LP
    2.58M1.36%
  • Schroder Investment Management Group
    2.32M1.22%
  • FMR Inc
    1.98M1.04%
  • Sands Capital Management, LLC
    1.53M0.81%
  • Samlyn Capital, LLC
    1.50M0.79%
  • Capital World Investors
    1.14M0.60%
  • Ameriprise Financial Inc
    1.12M0.59%
  • BlackRock Inc
    1.09M0.57%
  • VR Advisory Services Ltd
    1.05M0.55%
  • North of South Capital LLP
    987.39K0.52%
  • Brandes Investment Partners & Co
    833.67K0.44%
  • Coronation Fund Managers Ltd
    814.78K0.43%

Top Fund Holders

  • Fidelity Emerging Markets
    1.30M0.68%
  • Strategic Advisers Fidelity Em Mkts
    1.14M0.60%
  • Pzena Emerging Markets Value Instl
    936.03K0.49%
  • Baillie Gifford Pacific B Inc
    868.69K0.46%

Dividends

20263×
2.15Sep 10, 20261.80Jun 12, 20261.76Apr 16, 2026
20244×
1.71Nov 20, 20241.77Aug 22, 20241.92May 23, 20241.90Apr 12, 2024
20234×
1.85Nov 16, 20231.63Aug 23, 20231.68May 22, 20231.32Apr 5, 2023
20222×
1.29Nov 21, 20221.07Aug 22, 2022
20213×
1.07Nov 22, 20210.97Aug 23, 20212.07Mar 24, 2021