Added to YB: 2026-01-07
Pitch date: 2026-01-03
KSPI [neutral]
Joint Stock Company Kaspi.kz
+1.14%
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
$7.5T
Pitch Price
$40.4K
Price Target
N/A
Dividend
N/A
EV/EBITDA
3.29
P/E
6.84
EV/Sales
2.04
Sector
Consumer Finance
Category
value
Nate's Investment Research | 2025 Returns & 2026 Investment Ideas - Kaspi.kz
KSPI (holding update): Despite -22% drop in 2025, trades at 7.3x P/E vs Halyk's 4x - smallest valuation gap observed. Both companies pursuing international expansion (Kaspi in Turkey, Halyk in Uzbekistan). New Kazakhstan banking tax rises to 25% in 2026. Author holds 5%+ positions in both, sees solid long-term potential despite near-term headwinds.
Read full article (2 min)