Kaspi.kz: Kazakhstan Is The Moat, Türkiye Is The Test
Kaspi.kz: Kazakhstan Is The Moat, Türkiye Is The Test
Seeking Alpha7/28/2026Neutral
KSPI
Joint Stock Company Kaspi.kzNASDAQTECHNOLOGYSOFTWARE - INFRASTRUCTURE
Key Statistics
Market Cap
$16.47B
P/E Ratio
7.63
EPS
$11.36
Beta
0.09
52W High
$95.09
52W Low
$65.58
50-Day MA
$87.01
200-Day MA
$79.46
Dividend Yield
4.15%
Profit Margin
24.90%
Forward P/E
—
PEG Ratio
—
About Joint Stock Company Kaspi.kz
Joint Stock Company Kaspi.kz is a leading fintech and digital services provider in Kazakhstan, specializing in digital banking, e-commerce, and payment processing solutions. Leveraging advanced technology, the company is committed to enhancing financial inclusion and delivering tailored services to millions of users in the region. Its strategic positioning within a rapidly growing market and the increasing demand for innovative financial solutions in Central Asia make Kaspi.kz a compelling investment opportunity for institutional investors seeking to tap into high-growth emerging markets.
Fundamentals
| Revenue (TTM) | $3.64T |
| Gross Profit (TTM) | $2.70T |
| EBITDA | $2.42T |
| Operating Margin | 0.00% |
| Return on Equity | 46.80% |
| Return on Assets | 14.30% |
| Revenue/Share (TTM) | $19088.87 |
| Book Value | $11908.49 |
| Price-to-Book | 3.00 |
| Price-to-Sales (TTM) | 1.90 |
| EV/Revenue | 1.462 |
| EV/EBITDA | 4.72 |
| Quarterly Earnings Growth (YoY) | -1.00% |
| Quarterly Revenue Growth (YoY) | 31.30% |
| Shares Outstanding | $190.03M |
| Float | $90.81M |
| % Insiders | 21.42% |
| % Institutions | 47.89% |
Historical Volatility
HV 10-Day
22.57%
HV 20-Day
22.10%
HV 30-Day
26.08%
HV 60-Day
28.54%
HV Rank
8.7%
Volatility is currently contracting
Analyst Ratings
Consensus ($97.01 target)
4
Buy3
HoldLatest News
Kaspi.kz Completes Acquisition of Rabobank A.Ş. in Türkiye
ALMATY, Kazakhstan, July 15, 2026 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz (“Kaspi.kz”) (Nasdaq: KSPI) today announced that it has completed the acquisition of Rabobank A.Ş., a fully licensed bank in Türkiye.
GlobeNewsWire7/15/2026Neutral
Watch the Kaspi Event: Mikheil Lomtadze Unveils Kasper
Kaspi.kz presents its vision to bring a personal AI assistant to every customer Kaspi.kz presents its vision to bring a personal AI assistant to every customer
GlobeNewsWire7/14/2026Neutral
Kaspi.kz receives regulatory approval to acquire Rabobank A.Ş. in Türkiye
ALMATY, Kazakhstan, June 24, 2026 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz (“Kaspi.kz”) (Nasdaq: KSPI) today announced that it has received regulatory approval from the Banking Regulation and Supervision Agency of Türkiye (“BDDK”) to acquire Rabobank A.Ş., a fully licensed bank in Türkiye. The transaction is expected to close in July 2026, subject to the satisfaction of customary closing conditions.
GlobeNewsWire6/24/2026Neutral
Announcement of EGM Results
ALMATY, Kazakhstan, June 12, 2026 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz (Nasdaq: KSPI) announces that the following resolutions were duly passed at its Extraordinary General Meeting on 11 June 2026:
GlobeNewsWire6/12/2026Neutral
Down 9.6% in 4 Weeks, Here's Why You Should You Buy the Dip in Joint Stock Company Kaspi.kz Sponsored ADR (KSPI)
Joint Stock Company Kaspi.kz Sponsored ADR (KSPI) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Zacks Investment Research6/10/2026Positive
Kaspi.kz: Ownership Change Drives Stock Rally
Kaspi.kz remains a 'Buy' as Q1 results align with guidance and the investment thesis, with revenue up 31% YOY to $2.3 billion. Marketplace segment led growth, notably with Hepsiburada's 94% YOY revenue jump and Kazakh value-added services up 73%, while profitability trends improve. Fintech revenue and loan portfolio grew 25% and 23% respectively, reflecting a strategic shift to longer-duration loans despite a slight NPL ratio increase.
Seeking Alpha6/2/2026Positive
Notice of Extraordinary General Meeting of Shareholders of Kaspi.kz
ALMATY, Kazakhstan, May 12, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of JSC Kaspi.kz (Nasdaq: KSPI) hereby announces the Extraordinary General Meeting of Shareholders of JSC Kaspi.kz will be held on 11 June 2026 at 10:00 Astana time at: 154 “А”, Nauryzbai Batyr Street, Almaty, Kazakhstan, 050013. If a quorum is not met, a repeated General Meeting of Shareholders will be held on 12 June 2026 at 10:00 Astana time at: 154 “А”, Nauryzbai Batyr Street, Almaty, Kazakhstan, 050013.
GlobeNewsWire5/12/2026Neutral
Joint Stock Company Kaspi.kz (KSPI) Q1 2026 Earnings Call Transcript
Joint Stock Company Kaspi.kz (KSPI) Q1 2026 Earnings Call Transcript
Seeking Alpha5/11/2026Neutral
Joint Stock Company Kaspi.kz Q1 Earnings Call Highlights
Joint Stock Company Kaspi.kz NASDAQ: KSPI reported first-quarter 2026 results that management said were broadly in line with expectations, with strong e-commerce growth offset by pressure from higher funding costs, investment in Türkiye and a changing mix in its payments business.
MarketBeat5/11/2026Neutral
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Data last updated: 7/29/2026