Stock AnalizJoint Stock Co Kaspi.kz KSPI
Major Banks · IPO 2024 · data as of November 13, 2026
Joint Stock Co Kaspi.kz (KSPI) is a financial company listed in the US with a market value of about $17.0B. In the twelve months to September 30, 2026 it had revenue of $9.9B and net income of $2.4B, a net margin of 24.3%.
Its overall Stock Analiz score is 2.6 out of 5 (average). The strongest part is value (4/5); the weakest is shareholder returns (0/5).
Key numbers: a P/E of 8.0, a price to free cash flow of 5.1, a 5-year average ROIC of 100%. A discounted cash flow model with moderate assumptions puts its intrinsic value about 129% above the current price.
Score: 2.6 / 5
Checks passed
- P/E below 25
- P/E below the industry median
- P/FCF below 20
- Price below intrinsic value (DCF, moderate assumptions)
- Revenue growth above 10% last year
- 3-year revenue growth above 10% a year
- Strong R&D investment or growth above 20%
- 5-year average ROIC above 12%
Checks not passed
- PEG below 1.5
- Profit margin improving
- 3-year free cash flow growth above 10% a year
- 5-year EPS growth above 10% a year
- 5-year revenue growth above 8% a year
- Interest covered more than 5 times
- Liabilities below 60% of assets
- Pays a dividend
Valuation
Growth and quality
Financials, last 5 years
| Fiscal year | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $9.9B | $9.1B | $5.7B | $4.3B | $2.9B | $2.0B |
| Net income | $2.4B | $2.4B | $2.3B | $1.9B | $1.3B | $971M |
| Free cash flow | $3.4B | $1.1B | $1.1B | $2.4B | $2.2B | $102M |
| EPS (diluted) | $12.56 | $12.75 | $12.35 | $9.99 | $6.95 | $5.13 |
| Net margin | 24.3% | 26.5% | 41.1% | 44.0% | 46.0% | 48.8% |
| ROIC | — | 69.4% | 103.1% | 115.5% | 99.7% | 114.2% |
From the company’s 10-K and 10-Q filings with the SEC. TTM = trailing twelve months.
Frequently asked questions
What is Joint Stock Co Kaspi.kz’s P/E ratio?
About 8.0, based on the last twelve months of diluted earnings per share (forward P/E about 0.0).
Is Joint Stock Co Kaspi.kz stock undervalued?
Our DCF model with moderate assumptions puts its intrinsic value about 129% above the current market value. A model is a range, not a promise; try your own assumptions in the DCF calculator.
Does Joint Stock Co Kaspi.kz pay a dividend?
Yes. The dividend yield is about 6.39%, and it has paid dividends for 4 years in our data.
Is Joint Stock Co Kaspi.kz a good stock to buy?
We do not give buy or sell advice. Joint Stock Co Kaspi.kz scores 2.6 out of 5 on our five checks (value, growth, track record, financial health and shareholder returns); the checks above show why.
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Generated from SEC filings, analyst consensus estimates and market prices, rebuilt every day. Educational information, not investment advice.