Added to YB: 2026-07-17
Pitch date: 2026-07-15
KSPI [neutral]
Joint Stock Company Kaspi.kz
Author Info
No bio for this author
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
$8.0T
Pitch Price
N/A
Price Target
N/A
Dividend
8.12%
EV/EBITDA
3.12
P/E
7.50
EV/Sales
1.76
Sector
Consumer Finance
Category
value
The Digital Operating System of Kazakhstan - $KSPI
KSPI: Kazakh Super App monopoly (payments, marketplace, fintech + gov services) at 7.6x PE, ~30% 10yr rev CAGR, 20% 2026 growth guide, high-single-digit yield, 46% insider ownership + CEO/Tencent buying. Reverse DCF prices ~zero growth. Risks: Kazakhstan macro, QR mandate, Hepsiburada execution. NFA.
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