Kaspi.kz JSC Sponsored ADR RegS (KSPI) AI Stock Analysis

• Market Cap: $14.19B
• Dividend Yield: N/A
• Average Volume (3M): 539.58K
• Price to Earnings (P/E): 7.0
• Beta (1Y): 1.10
• Revenue Growth: 36.40%
• EPS Growth: 1.10%
• Country: US
• Employees: 7,802
• Sector: N/A
• Sector Strength: N/A
• Industry: Software - Infrastructure
• EPS (TTM): 2.70
• Shares Outstanding: 190,015,730
• 10 Day Avg. Volume: 569,041
• 30 Day Avg. Volume: 539,583
• PEG Ratio: 0.39
• Price to Book (P/B): 6.22
• Price to Sales (P/S): 3.74
• P/FCF Ratio: 19.41
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: <0.01
• Enterprise Value/Gross Profit: <0.01
• Enterprise Value/Ebitda: <0.01
• 1Y Price Target: $107.00
• Price Target Upside: 46.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: $79.00 ▲(8.50% Upside)

Kaspi.kz JSC's overall stock score is driven by its strong financial performance and optimistic earnings call guidance, which highlight robust growth and strategic initiatives. However, the technical analysis indicates bearish momentum, which tempers the overall score. The attractive valuation with a low P/E ratio and high dividend yield provides additional support, making the stock appealing for value and income-focused investors.

Kaspi.kz JSC Sponsored ADR RegS Business Overview & Revenue Model

Company Description

Kaspi.kz JSC Sponsored ADR RegS (KSPI) is a leading technology and financial services company based in Kazakhstan. Operating primarily in the fintech sector, it provides a range of services including digital banking, e-commerce, and payment processing through its innovative platform. The company focuses on offering consumer and merchant services, enabling users to conduct transactions seamlessly while enhancing financial inclusion across the region.

How the Company Makes Money

Kaspi.kz generates revenue through several key streams. Primarily, it earns income from its digital banking services, which include fees from transactions, account maintenance, and loan interest. The e-commerce segment contributes significantly through commissions on sales made through its marketplace platform, as well as advertising fees from merchants. Additionally, the company benefits from payment processing fees charged to businesses using its payment solutions. Strategic partnerships with local and international firms enhance its offerings and customer reach, further driving revenue growth.

Kaspi.kz JSC Sponsored ADR RegS Financial Statement Overview

Summary

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Gross Profit
EBITDA
Net Income
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Cash, Cash Equivalents and Short-Term Investments
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Kaspi.kz JSC Sponsored ADR RegS Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 72.81
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KSPI, the sentiment is Positive. The current price of 72.81 is below the 20-day moving average (MA) of 75.71, below the 50-day MA of 74.78, and below the 200-day MA of 84.18, indicating a neutral trend. The MACD of 0.78 indicates Negative momentum. The RSI at 59.24 is Neutral, neither overbought nor oversold. The STOCH value of 77.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KSPI.

Kaspi.kz JSC Sponsored ADR RegS Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	―	―	―	―	―	―	―
FFIV	74 Outperform	$14.88B	21.95	20.60%	―	9.66%	23.87%
KSPI	72 Outperform	$14.19B	6.97	61.74%	―	36.40%	1.10%
OKTA	70 Neutral	$15.67B	82.84	2.96%	―	12.12%	―
GEN	67 Neutral	$17.20B	30.52	25.03%	1.79%	15.97%	-6.65%
NTNX	62 Neutral	$13.57B	67.69	―	―	17.45%	―
RBRK	50 Neutral	$14.65B	-38.77	―	―	48.93%	69.39%

Kaspi.kz JSC Sponsored ADR RegS Corporate Events

Kaspi.kz Reports Strong Financial Performance for Nine Months Ending September 2025

On November 13, 2025, Kaspi.kz JSC released its unaudited interim condensed consolidated financial information for the nine months ending September 30, 2025. The company reported a significant increase in revenue and net income compared to the previous year, indicating strong operational performance. This financial update underscores Kaspi.kz’s robust market position and its ability to effectively manage growth and technological advancements, which are crucial for maintaining its competitive edge in the evolving financial services sector.

Kaspi.kz Reports Strong Q3 2025 Financial Results Amidst Market Challenges

On November 10, 2025, Kaspi.kz released its financial results for the third quarter and first nine months of 2025, reporting a 20% year-over-year increase in revenue and a 12% rise in net income for Q3. The company faced challenges from smartphone supply disruptions and regulatory changes, impacting growth. However, excluding these factors, underlying revenue and net income showed strong growth. The company has launched new initiatives like Kaspi Alaqan, a pay-by-palm service, and expanded its advertising services, indicating a focus on innovation and market expansion. Despite external challenges, Kaspi.kz expects continued growth in its core business and has announced a $100 million ADS repurchase program, reflecting confidence in its long-term prospects.