Added to YB: 2025-12-05
Pitch date: 2025-12-03
KSPI [neutral]
Joint Stock Company Kaspi.kz
-0.63%
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
$7.4T
Pitch Price
$40.5K
Price Target
245.00 (-99%)
Dividend
N/A
EV/EBITDA
3.27
P/E
6.79
EV/Sales
2.03
Sector
Consumer Finance
Category
value
Kaspi Investment Thesis Statement - Kaspi.kz
KSPI (watchlist): Kazakhstan Super App w/ 20%+ revenue growth, 25% net margins, 80% ROE trading 6x forward P/E. Self-reinforcing ecosystem across Payments/Marketplace/Fintech creates moat. Bull: $245 target (18% EPS growth, 15x PE). Bear case: country risk, regulatory changes, Hepsiburada execution risk.
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