Kaspi.kz
KSPI
91.87
-1.29
-1.38%
Kaspi.kz
US · KSPI
#999 by market cap
Listed 2024
91.87
-1.29
-1.38%
Live - 5344 symbols - heartbeat 193s ago
· 2026-10-08 08:30
Pre-market
92.05
+0.20%
After-hours
91.65
-0.24%
- Market cap
- 17.46B
- P/E (TTM)i
- 7.36
- P/Bi
- 2.96
- EPSi
- 12.50
- Div yieldi
- 3.94%
- 52W posi
- 64%
Reader sentiment
Are you bullish or bearish on KSPI?
Anonymous reader poll. Unscientific, not investment advice.
✦ Quant Financial Health how this is computed
Weak
- Altman Z-Score is 1.28, below the 1.8 "distress zone" threshold.
- Most reliable for industrial/manufacturing companies; less meaningful for banks, insurers and other financials.
Revenue annual, last 8 years
Latest year +59.79% YoY
Margins
- Gross margin
- 47.38%
- Operating margin
- 32.61%
- Net margin
- 26.64%
Key ratios & quality
- Enterprise valuei
- -1.59T
- PEG ratioi
- 0.33
- Altman Z-Scorei
- 1.28
PEG uses trailing P/E against the 3-year net income growth rate (22.41%/yr) since forward earnings estimates aren't available here, so this is not a "forward PEG." Altman Z-Score below ~1.8 suggests financial distress risk, above ~3.0 suggests low risk; the model is most reliable for industrial/manufacturing companies and less meaningful for banks and other financial firms.
Income statement
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | -- | 513.91B | 602.87B | 884.82B | 1.27T | 1.91T | 2.53T | 4.05T |
| Gross profit | 234.92B | 350.39B | 448.21B | 644.71B | 870.60B | 1.22T | 1.57T | 1.91T |
| Selling & admin expenses | 27.11B | 40.04B | 63.83B | 32.39B | 50.39B | 51.36B | 76.89B | 224.48B |
| Research & development | 15.72B | 20.33B | 30.82B | 44.39B | 60.81B | 88.66B | 109.55B | 208.58B |
| Operating profit | 139.51B | 249.80B | 323.91B | 533.55B | 704.19B | 998.80B | 1.27T | 1.31T |
| Pretax profit | 135.24B | 239.14B | 317.82B | 528.80B | 720.57B | 1.02T | 1.28T | 1.33T |
| Tax | 24.12B | 42.02B | 54.48B | 93.59B | 131.73B | 173.23B | 225.46B | 264.21B |
| Net profit | 111.12B | 197.12B | 263.35B | 435.21B | 588.84B | 848.77B | 1.06T | 1.07T |
| Basic EPS | 676 | 1.03K | 1.36K | 2.25K | 3.05K | 4.43K | 5.48K | 5.63K |
| Diluted EPS | 676.00 | 1,027.00 | 1,347.00 | 2,222.00 | 3,016.00 | 4,381.00 | 5,431.00 | 5,592.00 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Revenue | 821.85B | 967.50B | 1.11T | 1.15T | 1.08T | 1.11T |
| Gross profit | 424.22B | 690.82B | 500.61B | 519.48B | 466.43B | 795.14B |
| Selling & admin expenses | 36.84B | 44.30B | 66.05B | 71.97B | 53.30B | 56.50B |
| Research & development | 42.90B | 50.89B | 58.05B | 56.74B | 61.58B | 63.70B |
| Operating profit | 301.65B | 550.71B | 335.10B | 352.95B | 297.50B | 615.61B |
| Pretax profit | 307.45B | 321.96B | 346.51B | 356.00B | 322.30B | 327.98B |
| Tax | 53.40B | 63.33B | 68.47B | 79.01B | 70.39B | 69.09B |
| Net profit | 254.05B | 258.63B | 278.05B | 276.98B | 251.91B | 258.89B |
| Basic EPS | 1.33K | 1.35K | 1.47K | 1.46K | 1.31K | 1.35K |
| Diluted EPS | 1,321.00 | 1,343.00 | 1,458.00 | 1,456.06 | 1,308.00 | 1,346.00 |
Balance sheet
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Total current assets | 1.26T | 2.08T | 2.69T | 3.47T | 3.85T | 5.03T | 8.02T | 9.84T |
| Cash & ST investments | 168.47B | 712.40B | 1.20T | 948.56B | 1.72T | 2.20T | 2.11T | 2.06T |
| Inventory | -- | -- | -- | -- | 2.27B | 14.37B | 16.16B | 124.52B |
| Total assets | 1.70T | 2.19T | 2.81T | 3.61T | 5.12T | 6.82T | 8.38T | 11.08T |
| Total current liabilities | 1.25T | 1.65T | 2.23T | 2.86T | 4.26T | 5.70T | 6.70T | 7.99T |
| Short-term debt | 8.00B | 13.11B | 78.34B | 88.95B | 245.38B | 222.00B | 145.93B | 100.82B |
| Long-term debt | 227.75B | 219.36B | 154.74B | 221.52B | 21.68B | 154.00M | 75.52B | 348.18B |
| Total liabilities | 1,485,734,000,000.00 | 1,891,959,000,000.00 | 2,412,082,000,000.00 | 3,103,229,000,000.00 | 4,295,958,000,000.00 | 5,718,719,000,000.00 | 6,804,240,000,000.00 | 8,480,171,000,000.00 |
| Total equity | 213.92B | 295.62B | 394.66B | 504.70B | 825.69B | 1.10T | 1.57T | 2.60T |
| Retained earnings | 142.82B | 195.23B | 280.83B | 377.85B | 762.50B | 1.05T | 1.47T | 2.54T |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Total current assets | 8.17T | 8.87T | 9.06T | 9.84T | 9.73T | 10.63T |
| Cash & ST investments | 1.91T | 2.25T | 1.77T | 2.06T | 1.98T | 2.55T |
| Inventory | 110.75B | 111.48B | 142.28B | 124.52B | 106.00B | 110.64B |
| Total assets | 9.29T | 10.05T | 10.35T | 11.08T | 11.10T | 12.06T |
| Total current liabilities | 6.49T | 7.00T | 7.38T | 7.99T | 7.71T | 8.44T |
| Short-term debt | -- | -- | -- | 100.82B | 76.85B | 76.99B |
| Long-term debt | 609.96B | 591.47B | 438.05B | 348.18B | 334.79B | 612.31B |
| Total liabilities | 7,511,082,000,000.00 | 8,018,363,000,000.00 | 8,005,966,000,000.00 | 8,480,171,000,000.00 | 8,322,643,000,000.00 | 9,326,988,000,000.00 |
| Total equity | 1.78T | 2.03T | 2.34T | 2.60T | 2.78T | 2.73T |
| Retained earnings | 1.73T | 1.99T | 2.27T | 2.54T | 2.77T | 2.70T |
Cash flow
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | 35.66B | 296.35B | 617.73B | 70.35B | 1.02T | 1.11T | 581.89B | 673.61B |
| Depreciation & amortization | -- | -- | -- | -- | -- | -- | -- | -- |
| Free cash flow | 24.67B | 279.42B | 599.54B | 45.45B | 961.52B | 1.06T | 486.17B | 491.10B |
| Dividends paid | 0 | -97.70B | -175.37B | -340.36B | -210.10B | -560.13B | -646.06B | 0 |
| Stock buybacks / issuance | -75.29B | -- | -- | 0 | -63.67B | -60.70B | -2.85B | -21.91B |
| Ending cash balance | 168.47B | 239.14B | 330.41B | 342.10B | 615.36B | 820.47B | 619.47B | 903.14B |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| Operating cash flow | -124.67B | 449.65B | -111.43B | 460.06B | 86.51B | 711.42B |
| Depreciation & amortization | -- | -- | -- | -- | -- | -- |
| Free cash flow | -151.50B | 398.19B | -143.65B | 388.06B | 53.55B | 655.02B |
| Dividends paid | -- | -- | 0 | 0 | -- | -- |
| Stock buybacks / issuance | 0 | 0 | 0 | -21.91B | -28.37B | 0 |
| Ending cash balance | 686.62B | 1.08T | 501.52B | 903.14B | 797.08B | 998.61B |
Returns & efficiency
| Line item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE %i | 55.17 | 78.53 | 76.40 | 96.97 | 88.71 | 88.69 | 80.12 | 53.54 |
| ROA %i | 6.65 | 9.97 | 10.45 | 13.47 | 13.40 | 14.09 | 13.68 | 11.03 |
| ROIC %i | 24.03 | 40.09 | 45.43 | 60.22 | 61.70 | 70.51 | 68.43 | 45.66 |
| 5-year avg ROE %i | -- | -- | 49.04 | 67.78 | 79.16 | 85.86 | 86.18 | 81.61 |
| EBIT margin %i | 36.75 | 47.62 | 49.94 | 62.31 | 58.60 | 52.84 | 50.42 | 32.61 |
| FCF / sales %i | 6.50 | 53.26 | 92.74 | 4.81 | 72.38 | 55.86 | 19.29 | 12.19 |
| Current ratioi | 1.01 | 1.27 | 1.21 | 1.22 | 0.90 | 0.88 | 1.20 | 1.23 |
| Quick ratioi | 0.99 | 1.25 | 1.19 | 1.20 | 0.89 | 0.87 | 1.18 | 1.17 |
| Debt / assetsi | 13.87 | 10.63 | 8.30 | 8.61 | 5.21 | 3.26 | 2.64 | 4.25 |
| LT debt / equityi | 113.03 | 75.11 | 39.56 | 44.33 | 2.65 | 0.01 | 4.98 | 14.84 |
| Interest coveragei | -- | -- | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | 32.06 | 31.81 | 32.83 | 33.72 | 42.92 | 41.51 | 47.54 |
| Net income CAGR (3Y) %i | -- | 232.56 | 58.71 | 59.95 | 44.53 | 47.73 | 34.02 | 22.41 |
| FCF CAGR (3Y) %i | -- | 59.06 | 63.83 | 22.60 | 50.97 | 20.76 | 120.34 | -20.07 |
| Line item | 2025-03 | 2025-06 | 2025-09 | 2025-12 | 2026-03 | 2026-06 |
|---|---|---|---|---|---|---|
| ROE %i | 70.55 | 69.19 | 60.95 | 53.54 | 48.73 | 46.58 |
| ROA %i | 13.23 | 12.67 | 12.25 | 11.03 | 10.50 | 9.68 |
| ROIC %i | 55.49 | 56.15 | 52.27 | 45.66 | 38.98 | 35.96 |
| 5-year avg ROE %i | -- | -- | -- | -- | -- | -- |
| EBIT margin %i | 46.86 | 45.65 | 37.09 | 32.61 | 30.69 | 33.76 |
| FCF / sales %i | 18.76 | 21.04 | 9.93 | 12.19 | 16.31 | 21.64 |
| Current ratioi | 1.26 | 1.27 | 1.23 | 1.23 | 1.26 | 1.26 |
| Quick ratioi | 1.23 | 1.24 | 1.17 | 1.17 | 1.21 | 1.19 |
| Debt / assetsi | 6.56 | 5.89 | 4.23 | 4.25 | 3.71 | 5.72 |
| LT debt / equityi | 35.68 | 30.26 | 19.28 | 14.84 | 12.47 | 23.20 |
| Interest coveragei | -- | -- | -- | -- | -- | -- |
| Revenue CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| Net income CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
| FCF CAGR (3Y) %i | -- | -- | -- | -- | -- | -- |
✦ Quant Revenue Concentration how this is computed
Lead segment, long tail
- Marketplace is the largest reported line at 45.29% of revenue, across 4 reported segments.
- Fintech follows at 40.54%, so the top line still matters most but isn’t the whole story.
Revenue breakdown most recent period
Business
Marketplace45.29%
Fintech40.54%
Payments15.05%
Quote time 2026-10-08 08:30:57 · For reference only, not investment advice and not tailored to your situation.