KSPI Joint Stock Company Kaspi.kz - American Depository Shares
NASDAQ · Financial Services · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Mar 16, 2026
$94.05
· of 52w range
· above low
· to high
$68.5952w low
$109.9452w high
P/E
0.0
EPS
$5592.00
Revenue
$4.05T
your badges
52W Range
$69–$110
Analyst Rating
STRONG BUY
Price Target
$111
P/E
0.0
ROE
53.5%
Net Profit Margin
26.5%
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KSPI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$94.05
P/E
0.0
EPS
$5592.00
Revenue
$4.05T
ROE
53.5%
52W Range
$69–$110
KSPI Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$4.05T2021-12-31 → 2025-12-31
EPS$5592.002021-12-31 → 2025-12-31
Net margin26.5%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | KSPI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 0.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | KSPI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EBITDA Margin | 1.9%5Y avg ≈1.5% | ≈1.5% | · | · | |
| Pretax Margin | 32.9%5Y avg ≈45.7% | ≈45.7% | · | · | |
| Net Profit Margin | 26.5%5Y avg ≈37.2% | ≈37.2% | · | · | |
| ROA | 11.0%5Y avg ≈12.9% | ≈12.9% | · | · | |
| ROE | 53.5%5Y avg ≈74.1% | ≈74.1% | · | · |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | KSPI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.4 | ≈0.4 | · | · | |
| Inventory Turnover | 16.8 | · | · | · | |
| Revenue / Employee | ≈$288.8M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Payout Ratio0.00%
Annualized Payout≈$8.60
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Sep 10, 2026 | $2.15 | USD | ≈5.9% |
| Jun 12, 2026 | $1.80 | USD | ≈4.4% |
| Apr 16, 2026 | $1.76 | USD | ≈2.2% |
| Nov 20, 2024 | $1.71 | USD | ≈6.9% |
| Aug 22, 2024 | $1.77 | USD | ≈4.5% |
| May 23, 2024 | $1.92 | USD | ≈3.1% |
| Apr 12, 2024 | $1.90 | USD | ≈1.7% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-6.3%
Next Report
Nov 09, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $1346.00 | $1393.93 | -3.4% |
| March 31, 2026 | May 11, 2026 | $1308.00 | $1280.82 | 2.1% |
| Dec. 31, 2025 | $1457.68 | $1725.42 | -15.5% | |
| Sept. 30, 2025 | $1458.00 | $1539.45 | -5.3% | |
| June 30, 2025 | $1343.00 | $1475.02 | -9.0% | |
| March 31, 2025 | $1321.00 | $1418.29 | -6.9% | |
| Dec. 31, 2024 | $1625.00 | $1735.90 | -6.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $4.05T | $2.53T | $1.91T | $1.27T | |
| Cost of Revenue | $1.18T | $303.86B | $166.36B | $82.75B | |
| R&D Expense | $208.58B | $109.55B | $88.66B | $60.81B | |
| SG&A Expense | $78.25B | $32.90B | $29.47B | $24.77B | |
| Interest Expense | $825.85B | $616.12B | $478.01B | $278.68B | |
| Pretax Income | $1.33T | $1.28T | $1.02T | $720.57B | |
| Income Tax | $264.21B | $225.46B | $173.23B | $131.73B | |
| Net Income | $1.07T | $1.04T | $841.35B | $585.03B | |
| EPS (Basic) | $5631.00 | $5477.00 | $4431.00 | $3051.00 | |
| EPS (Diluted) | $5592.00 | $5431.00 | $4381.00 | $3016.00 | |
| Shares (Basic) | 190,581,647 | 189,832,053 | 189,859,971 | 191,725,280 | |
| Shares (Diluted) | 191,900,721 | 191,430,283 | 192,062,409 | 193,991,446 | |
| EBITDA | $78.25B | $28.83B | $25.55B | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $903.14B | $619.47B | $820.47B | $615.36B | |
| Inventory | $124.52B | $16.16B | · | · | |
| Goodwill | $447.13B | $17.44B | $34.08B | · | |
| Total Assets | $11.08T | $8.38T | $6.82T | $5.12T | |
| Total Liabilities | $8.48T | $6.80T | $5.72T | $4.30T | |
| Retained Earnings | $2.54T | $1.47T | $1.05T | $762.50B | |
| Stockholders' Equity | $2.49T | $1.52T | $1.08T | $819.16B |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $78.25B | $28.83B | $25.55B | $16.79B | |
| Other Non-cash | $-477.82B | $-486.68B | $239.22B | · | |
| Operating Cash Flow | $673.61B | $581.89B | $1.11T | $1.02T | |
| Investing Cash Flow | $-507.80B | $-108.36B | $-218.36B | $-487.16B | |
| Dividends Paid | $0 | $646.06B | $560.13B | $210.10B | |
| Financing Cash Flow | $150.25B | $-709.77B | $-675.97B | $-275.91B |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Net Margin | 26.5% | 41.1% | 44.0% | · | |
| Pretax Margin | 32.9% | 50.6% | 53.4% | · | |
| EBITDA Margin | 1.9% | 1.1% | 1.3% | · | |
| ROA | 11.0% | 13.7% | 14.1% | · | |
| ROE | 53.5% | 80.1% | 88.7% | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.3 | · | |
| Inventory Turnover | 16.8 | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue / Share | $21084.20 | $13227.56 | $9962.86 | · | |
| Cash Flow / Share | $3510.21 | $3039.71 | $5759.21 | · | |
| EPS (TTM) | $5592.00 | $5431.00 | $4381.00 | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $4.05T | $2.53T | $1.91T | · | |
| Net Income TTM | $1.07T | $1.04T | $841.35B | · | |
| P/E | 0.0 | 0.0 | · | · | |
| Earnings Yield | 7157.3% | 5734.3% | · | · | |
| Payout Ratio | 0.00% | 62.1% | 66.6% | · | |
| Annual Payout | $0 | $646.06B | $560.13B | · |
No quarterly filings for KSPI
We don't have SEC filings for this ticker yet.
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $4.05T | $2.53T | $1.91T | $1.27T | $884.82B |
| Net Income | $1.07T | $1.04T | $841.35B | $585.03B | $431.91B |
| Diluted EPS | $5592.00 | $5431.00 | $4381.00 | $3016.00 | $2222.00 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 218 filers · $7.0B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
218
Value held
$7.0B
New positions
52
Exited positions
13
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 52 (+28 vs prior Q) | 13 (-15 vs prior Q) | 68 (+1 vs prior Q) | 61 (+1 vs prior Q) | -2.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Baring Fintech Manager Holding Ltd | $1,450,098,272 | 16,737,053 | 20.62% | Shares |
| Brehaut David Pascal | $1,061,972,905 | 12,257,305 | 15.10% | Shares |
| Baring Fintech Fund III Managers Ltd | $615,744,155 | 7,106,927 | 8.76% | Shares |
| BAILLIE GIFFORD & CO | $500,707,116 | 5,779,168 | 7.12% | Shares |
| FIL Ltd | $315,010,737 | 3,635,858 | 4.48% | Shares |
| PZENA INVESTMENT MANAGEMENT LLC | $266,148,376 | 3,071,888 | 3.78% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $200,954,549 | 2,319,420 | 2.86% | Shares |
| FMR LLC | $171,807,986 | 1,983,010 | 2.44% | Shares |
| SANDS CAPITAL MANAGEMENT, LLC | $132,647,313 | 1,531,017 | 1.89% | Shares |
| SAMLYN CAPITAL, LLC | $129,815,485 | 1,498,332 | 1.85% | Shares |
| Capital World Investors | $99,089,995 | 1,143,698 | 1.41% | Shares |
| AMERIPRISE FINANCIAL INC | $96,778,457 | 1,116,967 | 1.38% | Shares |
| BlackRock, Inc. | $94,072,326 | 1,085,784 | 1.34% | Shares |
| VR Advisory Services Ltd | $90,971,913 | 1,049,999 | 1.29% | Shares |
| North of South Capital LLP | $85,547,470 | 987,390 | 1.22% | Shares |
| BRANDES INVESTMENT PARTNERS, LP | $72,229,289 | 833,669 | 1.03% | Shares |
| Coronation Fund Managers Ltd. | $70,592,799 | 814,783 | 1.00% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $65,829,332 | 759,803 | 0.94% | Shares |
| Polar Capital Holdings Plc | $58,331,073 | 673,258 | 0.83% | Shares |
| Greenvale Capital LLP | $57,666,718 | 665,590 | 0.82% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $57,389,926 | 656,410 | 0.82% | Shares |
| Ranmore Fund Management Ltd | $53,716,800 | 620,000 | 0.76% | Shares |
| Southpoint Capital Advisors LP | $51,984,000 | 600,000 | 0.74% | Shares |
| MORGAN STANLEY | $49,816,439 | 574,981 | 0.71% | Shares |
| BANK OF AMERICA CORP /DE/ | $46,528,278 | 537,030 | 0.66% | Shares |
| GOLDMAN SACHS GROUP INC | $43,830,743 | 505,895 | 0.62% | Shares |
| Marex Group Ltd | $43,574,722 | 502,940 | 0.62% | Shares |
| Aberdeen Group plc | $42,361,501 | 488,937 | 0.60% | Shares |
| Artisan Partners Limited Partnership | $40,848,421 | 471,473 | 0.58% | Shares |
| 683 Capital Management, LLC | $40,720,800 | 470,000 | 0.58% | Shares |
| First Beijing Investment Ltd | $36,788,470 | 424,613 | 0.52% | Shares |
| Mondrian Investment Partners LTD | $34,338,543 | 396,336 | 0.49% | Shares |
| Gemsstock Ltd. | $34,178,700 | 394,491 | 0.49% | Shares |
| UBS Group AG | $33,860,645 | 390,820 | 0.48% | Shares |
| Fiera Capital Corp | $29,219,947 | 337,257 | 0.42% | Shares |
| JPMORGAN CHASE & CO | $28,746,809 | 328,798 | 0.41% | Shares |
| BRIGHTLIGHT CAPITAL MANAGEMENT LP | $27,497,376 | 371,235 | 0.39% | Shares |
| HSBC HOLDINGS PLC | $26,938,464 | 311,548 | 0.38% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $25,740,744 | 297,100 | 0.37% | Put option |
| Legal & General Group Plc | $23,202,192 | 267,800 | 0.33% | Shares |
| Dodge & Cox | $21,904,845 | 252,826 | 0.31% | Shares |
| Kora Management LP | $20,923,560 | 241,500 | 0.30% | Shares |
| Cullen Capital Management, LLC | $20,299,232 | 234,294 | 0.29% | Shares |
| Russell Investments Group, Ltd. | $20,129,969 | 232,340 | 0.29% | Shares |
| Ninety One UK Ltd | $19,802,342 | 228,559 | 0.28% | Shares |
| Carmignac Gestion | $19,649,187 | 226,666 | 0.28% | Shares |
| UNTITLED INVESTMENTS LP | $18,716,059 | 216,021 | 0.27% | Shares |
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ | $18,454,233 | 212,999 | 0.26% | Shares |
| State of New Jersey Common Pension Fund D | $17,813,790 | 205,607 | 0.25% | Shares |
| FRANKLIN RESOURCES INC | $16,875,219 | 194,774 | 0.24% | Shares |
Company insiders 4 insiders · 1 officers · 3 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Yuri Didenko | Deputy Chair (Cap. Markets) | Aug. 19, 2026 S | · | 0 | 5 | $-4,927,591 |
| Vyacheslav Kim | Director | Sept. 30, 2026 S | · | 0 | 372 | $-264,639,730 |
| Alina Prawdzik | Director | May 12, 2026 G | · | 0 | 0 | $0 |
| Szymon Gutkowski | Director | April 2, 2026 G | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 4 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ABLG · Abacus FCF ETF Trust | 1.87% | 3,390 NS | July 31, 2026 | N-PORT |
| ARKF · ARK ETF Trust | 0.51% | 39,943 NS | July 31, 2026 | N-PORT |
| FFEM · Fidelity Covington Trust | 0.16% | 1,101 NS | July 31, 2026 | N-PORT |
| JEMA · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 20,451 NS | July 31, 2026 | N-PORT |
KSPI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
BUY
Median target
$105.08
+11.7%
4 36.4%
Strong Buy
4 36.4%
Buy
3 27.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
7 analysts · 2026-10-01Mean target $110.59 +17.6%
Now
Current price $94.05
Low$89.16
Mean$110.59
High$138.18
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Source: SEC 20-F filed Mar 16, 2026