Added to YB: 2026-05-28
Pitch date: 2026-05-25
KSPI [neutral]
Joint Stock Company Kaspi.kz
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
$8.5T
Pitch Price
N/A
Price Target
N/A
Dividend
7.62%
EV/EBITDA
3.34
P/E
8.00
EV/Sales
1.88
Sector
Consumer Finance
Category
growth
Earnings Updates & Portfolio Reveal - Kaspi
KSPI (holding update): 5.7x fwd P/E, 20%+ CAGR. Monopoly SuperApp in Kazakhstan, now 85.66% of Turkish e-comm Hepsiburada (16% rev). Q1 rev +31.5% KZT (+7% Payments, +49% Marketplace, +25% Fintech). Hepsi at 7x/yr purchase frequency vs 27x Kaspi—huge upside narrowing gap. 8.4% div yield. Tencent took ~5% stake, Pabrai 4%+.
Read full article (3 min)