Added to YB: 2025-08-08
Pitch date: 2025-08-06
KSPI [neutral]
Joint Stock Company Kaspi.kz
-17.09%
current return
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
$7.4T
Pitch Price
$48.6K
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.27
P/E
6.79
EV/Sales
2.03
Sector
Consumer Finance
Category
growth
Q2 Update - Kaspi
KSPI (earnings update): Q2 revenue +20%, net profit +14%, on track for annual targets. Food delivery active users +13.5% QoQ but basket size declining to 13K KZT (~€21), concerning with 12% inflation. Marketplace GMV growing with higher take rate. Ad revenue at 0.5% of GMV has room to grow to 2-3%. High loan-to-deposit ratio may pressure margins. Position reduced after 15% price jump.
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