NASDAQ · Software - Infrastructure · USD

Joint Stock Company Kaspi.kz (KSPI) Stock Analysis

Joint Stock Company Kaspi.kz (KSPI) is a Software - Infrastructure stock listed on NASDAQ and quoted in US Dollar.

KSPI

$107.53

−$0.28 (−0.26%)

Sep 4, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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KSPI Key Statistics

As of Sep 4, 2026

Trading

Open: $107.60
Previous Close: $107.81
Day's Range: 106.90–108.61
52-Week Range: 68.59–109.94
Volume: 396.80K
Beta: 0.10

Valuation

Market Cap: $20.43B
P/E Ratio: 9.15
Forward P/E: 0.02
EPS (ttm): 11.75

Financials (FY)

Revenue (FY): $4.03T+59.78%
Net Income (FY): $1.07T+3.22%
Profit margin: 24.15%
Shares Outstanding: 190.03M
1-Year Return: +23.33%

Dividend and dates

Dividend: $5.74+5.32%
Ex-Dividend Date: September 10, 2026
Earnings Date: October 21, 2026
Avg Volume: 473.94K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

KSPI Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

+5.07%−17.51%+43.78%

202420252026*

Year	Return
2026 (partial year)	+43.78%
2025	−17.51%
2024	+5.07%

As of September 4, 2026.

KSPI Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	$4.03T	$1.07T	26.6%
2024	$2.52T	$1.04T	41.2%
2023	$1.89T	$841.35B	44.5%
2022	$1.25T	$585.03B	46.6%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	$4.03T	$1.91T	$1.31T	$1.07T	26.6%
2024	$2.52T	$1.57T	$1.27T	$1.04T	41.2%
2023	$1.89T	$1.22T	$998.80B	$841.35B	44.5%
2022	$1.25T	$870.60B	$704.19B	$585.03B	46.6%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

KSPI Dividend History

$7.31

Dividends per share, 2024 · 4 payments

Year	Dividends per share	Payments	Change
2026*	$3.56	2	—
2024	$7.31	4	—

Most recent payment: $1.78 per share, ex-dividend June 12, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

KSPI Valuation vs Software - Infrastructure Median

Median of 187 stocks

Metric	KSPI	Software - Infrastructure median	vs median
P/E	9.15	25.51	64% below
Profit margin	24.15%	0.00%	24.2 pts above

Medians across 187 Software - Infrastructure stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Recent News

News provided by third-party sources. Not financial advice.

Analysis

Data-derived

Company Overview

Joint Stock Company Kaspi.kz (KSPI) carries a market capitalisation of $20.43B. The company sits in the Technology sector, in the Software - Infrastructure industry. Headcount on file is 14,008.

Over the past 52 weeks the price has ranged from $68.59 to $109.94. KSPI last closed at $107.53 on September 4, 2026. That is −$0.28 (−0.26%) against the previous close. The latest close sits 56.77% above that 52-week low.

Financial Health

In fiscal 2025, Joint Stock Company Kaspi.kz reported revenue of $4.03T. That is +59.78% against the prior fiscal year, when revenue was $2.52T. The same year closed with net income of $1.07T. That is +3.22% against the prior fiscal year. Profit margin runs at 24.15%. That is 24.2 percentage points above the Software - Infrastructure median of 0%. Trailing earnings per share are 11.75.

Across the 4 fiscal years on file, revenue moves from $1.25T in 2022 to $4.03T in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

KSPI trades at a trailing price-to-earnings ratio of 9.15. That is 64.13% below the Software - Infrastructure median of 25.51. On forward earnings the ratio is 0.02. 187 Software - Infrastructure companies report these metrics, and the medians quoted come from that group.

Over the trailing twelve months the price has returned +23.33%. The stored price history starts on January 19, 2024, and the total return since then is +24.63%. The reported beta is 0.1. Daily returns over the trailing 2 years annualize to a volatility of 38.63%.

Growth & Income

Shareholders receive a dividend, yielding 5.32% on the latest price. That is 4.1 percentage points above the Software - Infrastructure median yield of 1.25%. At the indicated rate that is $5.74 a share a year. The ex-dividend date on file is September 10, 2026. Dividends are recorded for 2 calendar years; 2026 shows 2 payments totalling $3.56 a share. The year before, 2024, totalled $7.31 a share.

Across the complete calendar years on file, 2024 returned +5.07% and 2025 returned −17.51%. So far in 2026 the price is +43.78%.

Peer Comparison

Joint Stock Company Kaspi.kz (KSPI) operates in the Software - Infrastructure industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Joint Stock Company Kaspi.kz	KSPI	$20.43B	9.2
Microsoft Corporation	MSFT	$3.71T	28.4
Oracle Corporation	ORCL	$457.36B	27.3
Palantir Technologies Inc.	PLTR	$418.93B	155.7

The Software - Infrastructure industry average P/E ratio is 25.5x. Joint Stock Company Kaspi.kz trades at a P/E of 9.2.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About Joint Stock Company Kaspi.kz

Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine. The company operates through three segments: Payments, Marketplace, and Fintech. The Payments segment offers a platform that facilities transactions between and among merchants and consumers. This segment provides ways for consumers to pay for shopping transactions and regular household bills, as well as make peer to peer payments; and enables merchants to accept payment online and in store, issue and settle invoices, pay suppliers, and monitor merchant turnover. It also offers proprietary data, which facilitates informed decision-making across multiple areas of business. Its Marketplace Platform segment connects both online and offline merchants with consumers, enabling merchants to increase sales through an omnichannel strategy and allowing consumers to purchase products and services from various merchants. This segment operates marketplaces through m-commerce, a mobile solution for shopping in person; e-Commerce, which allows consumers to shop anywhere and anytime with free delivery; and Kaspi Travel that allows consumers to book domestic and international flights, domestic rail tickets, and international package holidays. It also enhances merchants' sales by connecting payments and fintech products, Kapsi advertising, and other delivery services. The Fintech Platform segment provides consumers with buy-now-pay-later, finance and savings products, and merchants with merchant finance services. It also involved in the banking; distressed asset management; real estate business; payment processing; online travel; e-grocery; classifieds; and storage and processing of information services. Joint Stock Company Kaspi.kz was incorporated in 2008 and is headquartered in Almaty, the Republic of Kazakhstan.

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