Added to YB: 2026-03-09
Pitch date: 2026-03-05
KSPI [neutral]
Joint Stock Company Kaspi.kz
-1.32%
current return
Author Info
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Company Info
Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.
Market Cap
$7.0T
Pitch Price
$37.4K
Price Target
N/A
Dividend
9.28%
EV/EBITDA
3.00
P/E
6.55
EV/Sales
1.72
Sector
Consumer Finance
Category
growth
$KSPI — Earnings Rundown
KSPI (earnings): Q4 rev +19% YoY, net income +10%, fintech net income +49% despite higher rates/taxes/reserves. Marketplace GMV growth sustained, ad rev +64% FY, take rates at ATH. Payments TPV KZT 44.2T (+19%). Turkey's Hepsiburada MAU +15%, GMV +13% (inflation-adj), targets EBITDA breakeven 2026. Dividend reinstated at KZT 850/ADS. 2026 guide: ~20% marketplace GMV growth, ~5% EBITDA margin. Elite execution, compounder trading at discount.
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