Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Joint Stock Co Kaspi.kz files with the SEC in its annual reports.
In KZT millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2023
FY2023
FY2024
FY2025
Revenue
884,822
1,270,592
1,913,490
2,532,156
4,046,074
Cost of revenue
56,829
82,747
166,356
303,858
1,179,141
Gross profit
827,993
1,187,845
1,747,134
2,228,298
2,866,933
Research and development
44,388
60,807
88,657
109,553
208,580
Pre-tax income
528,802
720,574
1,022,004
1,282,289
1,331,918
Income tax
93,588
131,730
173,234
225,455
264,211
Net income to minority interests
3,300
3,818
7,419
17,095
-5,470
Net income
431,914
585,026
841,351
1,039,739
1,073,177
EPS, basic
2,247.00
3,051.00
4,431.00
5,477.00
5,631.00
EPS, diluted
2,222.00
3,016.00
4,381.00
5,431.00
5,592.00
Balance sheet
FY2021
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
342,101
615,360
820,466
619,470
903,143
Inventory
16,164
124,522
Goodwill
34,078
17,438
447,128
Total assets
5,121,647
6,821,932
8,377,101
11,081,748
Total liabilities
4,295,958
5,718,719
6,804,240
8,480,171
Retained earnings
762,500
1,054,945
1,465,295
2,543,785
Shareholders' equity
819,165
1,078,123
1,517,224
2,491,843
Minority interests
6,524
25,090
55,637
109,734
Total equity
504,695
825,689
1,103,213
1,572,861
2,601,577
Total liabilities and equity
5,121,647
6,821,932
8,377,101
11,081,748
Cash flow statement
FY2021
FY2023
FY2023
FY2024
FY2025
Net income
435,214
588,844
848,770
1,056,834
1,067,707
Depreciation and amortization
12,066
16,794
25,554
28,834
78,252
Cash from operations
70,351
1,020,984
1,106,128
581,892
673,611
Cash from investing
289,748
-487,161
-218,360
-108,364
-507,803
Share buybacks
-63,672
-60,703
-2,852
-21,907
Dividends paid
-340,362
-210,102
-560,132
-646,056
0
Cash from financing
-352,580
-275,911
-675,970
-709,771
150,251
Exchange rate effect
4,174
15,347
-6,692
35,247
-32,386
Net change in cash
11,693
273,259
205,106
-200,996
283,673
Interest paid
161,369
257,030
454,502
597,046
874,234
Income taxes paid
85,121
133,422
181,784
218,060
260,908
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Gross margin
70.9%
Gross profit / revenue.
Pre-tax margin
32.9%
Pre-tax income / revenue.
Net margin
26.5%
Net income / revenue.
Operating cash flow margin
16.6%
Cash from operations / revenue.
Effective tax rate
19.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
53.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
11.0%
Net income / average total assets.
R&D / revenue
5.2%
Research and development expense / revenue.
D&A / revenue
1.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
59.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
47.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
28.7%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
34.1%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y
3.2%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
22.4%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y
3.0%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
22.9%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y
15.8%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
-12.9%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
64.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
44.9%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
32.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
29.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
KZT 5,631.00
Net income per basic share, as reported (split-adjusted).
Payout ratio
0.0%
Dividends paid / net income, when net income is positive.
What was Joint Stock Co Kaspi.kz's revenue in fiscal 2025?
Joint Stock Co Kaspi.kz reported revenue of KZT 4.05T for fiscal 2025, 59.8% higher than the year before.
Was Joint Stock Co Kaspi.kz profitable in fiscal 2025?
Yes. Net income was KZT 1.07T, a net margin of 26.5%.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.