Stocks Consumer discretionary KSPI
NASDAQ · Consumer discretionaryJoint Stock Co Kaspi.kz (KSPI)
Joint Stock Co Kaspi.kz reported revenue of KZT 4.05T in fiscal 2025, up 59.8% from a year earlier. Net income was KZT 1.07T, a net margin of 26.5%. At December 31, 2025 it held KZT 903.1B in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on March 16, 2026.
Key facts about Joint Stock Co Kaspi.kz
- Net worth
- Joint Stock Co Kaspi.kz has a market value (market cap) of $16.9B at the latest share price, and shareholders' equity of KZT 2.49T on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was KZT 4.05T (+59.8% year on year), with net income of KZT 1.07T.
- Cash flow
- In fiscal 2025 operations brought in KZT 673.6B of cash.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on March 16, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What Joint Stock Co Kaspi.kz does
Joint Stock Co Kaspi.kz is registered with the SEC under industry code SIC 7389 (Services-Business Services, NEC). Its shares trade on NASDAQ under the ticker KSPI.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | KZT 4.05T | KZT 1.07T | KZT 5,592.00 | n/a |
| 2024 | KZT 2.53T | KZT 1.04T | KZT 5,431.00 | n/a |
| 2023 | KZT 1.91T | KZT 841.4B | KZT 4,381.00 | n/a |
| 2023 | KZT 1.27T | KZT 585B | KZT 3,016.00 | n/a |
| 2021 | KZT 884.8B | KZT 431.9B | KZT 2,222.00 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where KSPI ranks in Consumer discretionary
Dividends
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | KZT 0 | 0% |
| 2024 | n/a | KZT 646.1B | 62% |
| 2023 | n/a | KZT 560.1B | 67% |
| 2023 | n/a | KZT 210.1B | 36% |
| 2021 | n/a | KZT 340.4B | 79% |
Latest SEC filings
What Joint Stock Co Kaspi.kz has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026
- September 15, 2026Activist stake changed SCHEDULE 13D/A
- September 10, 2026Activist stake changed SCHEDULE 13D/A
- September 10, 2026
- August 14, 2026Passive stake changed SCHEDULE 13G/A
- August 13, 2026Passive stake changed SCHEDULE 13G/A
- August 12, 2026
- August 10, 2026
- June 12, 2026
- June 10, 2026Activist stake changed SCHEDULE 13D/A
Insider trades
What the people running Joint Stock Co Kaspi.kz did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns KSPI
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Joint Stock Company Kaspi.kz13D, may seek influence | 93.51% | September 15, 2026 |
| Mikheil Lomtadze13G, passive | 22.6% | November 14, 2024 |
| Vyacheslav Kim13G, passive | 20% | August 14, 2026 |
| Baring Fintech Nexus Limited13G, passive with 4 related filers | 15.29% | November 14, 2024 |
| European Investors Limited13G, passive with 1 related filers | 6.5% | April 24, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 217 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Baring Fintech Manager Holding Ltd | 16,737,053 | -1,314,798 |
| Brehaut David Pascal | 12,257,305 | 0 |
| Baring Fintech Fund III Managers Ltd | 7,106,927 | -4,955,070 |
| Baillie Gifford & Co | 5,779,168 | +655,961 |
| FIL Ltd | 3,635,858 | +309,616 |
| Pzena Investment Management LLC | 3,071,888 | +399,501 |
| Spice Expeditions, LP | 2,584,454 | new |
| Schroder Investment Management Group | 2,319,420 | +753,135 |
| Fmr LLC | 1,997,050 | +364,324 |
| VR Advisory Services Ltd | 20,440,669 | +2,890,479 |
| Sands Capital Management, LLC | 1,531,017 | -55,317 |
| Samlyn Capital, LLC | 1,498,332 | +431,337 |
| Capital World Investors | 1,143,698 | +115,124 |
| Ameriprise Financial Inc | 1,116,967 | +1,031 |
| BlackRock, Inc. | 1,085,784 | -2,701,290 |
| North of South Capital LLP | 987,390 | +417,709 |
| Brandes Investment Partners, LP | 833,669 | +89,570 |
| Coronation Fund Managers Ltd. | 814,783 | -50,967 |
| Wellington Management Group Llp | 759,803 | +113,975 |
| Polar Capital Holdings Plc | 673,258 | +4,919 |
Insiders
Questions about KSPI
What does Joint Stock Co Kaspi.kz do?
Joint Stock Co Kaspi.kz is a company in the Consumer discretionary sector, listed on NASDAQ as KSPI. Its shares trade on NASDAQ under the ticker KSPI.
What is Joint Stock Co Kaspi.kz's net worth?
Joint Stock Co Kaspi.kz has a market value (market cap) of $16.9B at the latest share price, and shareholders' equity of KZT 2.49T on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Joint Stock Co Kaspi.kz profitable?
Yes. In fiscal 2025 it reported net income of KZT 1.07T on revenue of KZT 4.05T, a net margin of 26.5%.
How much revenue does Joint Stock Co Kaspi.kz make?
In fiscal 2025 Joint Stock Co Kaspi.kz reported revenue of KZT 4.05T. That is 59.8% more than a year earlier.
When did Joint Stock Co Kaspi.kz last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on March 16, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from November 9, 2026.
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Where the numbers come from
Financial figures are the values Joint Stock Co Kaspi.kz tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.