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Upturn AI SWOT - About
Joint Stock Company Kaspi.kz American Depository Shares (KSPI)
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Upturn Advisory Summary
06/30/2025: KSPI (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
8 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $115.72
1 Year Target Price $115.72
| 5 | Strong Buy |
| 2 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 32% | Avg. Invested days 63 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 06/30/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 16.50B USD | Price to earnings Ratio 8.02 | 1Y Target Price 115.72 |
Price to earnings Ratio 8.02 | 1Y Target Price 115.72 | ||
Volume (30-day avg) 8 | Beta -0.05 | 52 Weeks Range 77.80 - 139.50 | Updated Date 06/29/2025 |
52 Weeks Range 77.80 - 139.50 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 8.48% | Basic EPS (TTM) 10.75 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 38.24% | Operating Margin (TTM) 59.16% |
Management Effectiveness
Return on Assets (TTM) 15.25% | Return on Equity (TTM) 69.21% |
Valuation
Trailing PE 8.02 | Forward PE - | Enterprise Value 13990097870 | Price to Sales(TTM) 0.01 |
Enterprise Value 13990097870 | Price to Sales(TTM) 0.01 | ||
Enterprise Value to Revenue 2.61 | Enterprise Value to EBITDA 5.56 | Shares Outstanding 190784992 | Shares Floating 66345318 |
Shares Outstanding 190784992 | Shares Floating 66345318 | ||
Percent Insiders 44.37 | Percent Institutions 50.06 |
Analyst Ratings
Rating 3 | Target Price 115.72 | Buy 2 | Strong Buy 5 |
Buy 2 | Strong Buy 5 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Joint Stock Company Kaspi.kz American Depository Shares
Company Overview
History and Background
Kaspi.kz was founded in 2002 as BTA Insurance, later becoming Kaspi Bank. Over time, it evolved into a super app offering a range of financial and e-commerce services. In 2020, Kaspi.kz listed its Global Depositary Receipts (GDRs) on the London Stock Exchange (LSE), and American Depository Shares (ADS) began trading in the US.
Core Business Areas
- Payments: Provides digital payment solutions for consumers and merchants, including online and mobile payments.
- Marketplace: Operates an e-commerce platform where merchants can sell goods and services to consumers.
- Fintech: Offers a range of financial products, including loans, deposits, and insurance.
Leadership and Structure
Mikhail Lomtadze serves as the CEO. The company has a board of directors responsible for overseeing the strategic direction and governance of the company. The organizational structure is designed to support the efficient operation of its various business segments.
Top Products and Market Share
Key Offerings
- Kaspi Pay: A mobile payment platform used by consumers and merchants. Kaspi.kz dominates digital payments in Kazakhstan. Competitors include local banks and other payment processors like Wooppay.
- Kaspi Shop: An e-commerce marketplace. Kaspi.kz is a leading e-commerce platform in Kazakhstan. Competitors include Wildberries and other regional e-commerce players.
- Consumer Lending: Provides consumer loans through the Kaspi.kz app. Kaspi.kz holds a significant share of the consumer lending market in Kazakhstan. Competitors include local banks and microfinance organizations.
Market Dynamics
Industry Overview
The fintech and e-commerce market in Kazakhstan is growing rapidly, driven by increasing internet penetration and mobile adoption. The Kazakhstani government is also actively promoting digitalization.
Positioning
Kaspi.kz is a leading player in the Kazakhstani fintech and e-commerce market. Its super app strategy and strong brand recognition give it a competitive advantage.
Total Addressable Market (TAM)
The combined TAM for e-commerce, payments, and fintech in Kazakhstan is estimated to be in the billions of USD. Kaspi.kz is well-positioned to capture a significant share of this market.
Upturn SWOT Analysis
Strengths
- Strong brand recognition
- Super app platform
- Dominant market share in Kazakhstan
- High customer loyalty
- Innovative technology
Weaknesses
- Geographic concentration in Kazakhstan
- Reliance on the Kazakhstani economy
- Regulatory risks
- Cybersecurity risks
Opportunities
- Expansion into other Central Asian countries
- Development of new financial products
- Partnerships with international companies
- Increased internet penetration in Kazakhstan
- Digital transformation initiatives
Threats
- Increased competition from local and international players
- Economic downturn in Kazakhstan
- Changes in government regulations
- Geopolitical risks
- Technological disruptions
Competitors and Market Share
Key Competitors
- OZON (OZON)
- Wildberries
- Halyk Bank (HSBK.KZ)
Competitive Landscape
Kaspi.kz's advantages include its super app platform, strong brand recognition, and dominant market share in Kazakhstan. Disadvantages include its geographic concentration and reliance on the Kazakhstani economy.
Growth Trajectory and Initiatives
Historical Growth: Kaspi.kz has experienced significant growth in recent years, driven by the expansion of its e-commerce and fintech businesses.
Future Projections: Future growth projections can be found in analyst reports and company presentations, taking into account factors such as market trends and strategic initiatives.
Recent Initiatives: Recent strategic initiatives include expanding its product offerings, entering new markets, and investing in technology.
Summary
Kaspi.kz is a dominant player in Kazakhstan's growing fintech and e-commerce market, driven by its super app strategy and strong brand. The company's geographic concentration poses a risk, but its expansion plans offer growth opportunities. Kaspi.kz's financial performance has been strong, but economic and regulatory factors could impact its future success. Investors should consider these factors when evaluating the stock's potential.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Kaspi.kz Investor Relations
- SEC Filings
- Analyst Reports
- Industry Research Reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It is not financial advice. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Joint Stock Company Kaspi.kz American Depository Shares
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2024-01-19 | Co-Founder, Executive Director, Chairman of the Management Board & CEO Mr. Mikheil N. Lomtadze | ||
Sector Technology | Industry Software - Infrastructure | Full time employees - | Website https://ir.kaspi.kz |
Full time employees - | Website https://ir.kaspi.kz | ||
Joint Stock Company Kaspi.kz, together with its subsidiaries, provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine. It operates in three segments: Payments, Marketplace, and Fintech. The Payments segment offers a platform that facilities transactions between and among merchants and consumers. This segment provides ways for consumers to pay for shopping transactions and regular household bills, as well as make peer to peer payments; and enables merchants to accept payment online and in store, issue and settle invoices, pay suppliers, and monitor merchant turnover. It also offers proprietary data, which facilitates informed decision-making across multiple areas of business. Its Marketplace Platform segment connects both online and offline merchants with consumers, enabling merchants to increase sales through an omnichannel strategy and allowing consumers to purchase products and services from various merchants. This segment operates marketplaces through m-commerce, a mobile solution for shopping in person; e-Commerce, which allows consumers to shop anywhere and anytime with free delivery; and Kaspi Travel that allows consumers to book domestic and international flights, domestic rail tickets, and international package holidays. It also enhances merchants' sales by connecting payments and fintech products, Kapsi advertising, and other delivery services. The Fintech Platform segment provides consumers with buy-now-pay-later, finance and savings products, and merchants with merchant finance services. It also involved in the banking; distressed asset management; real estate business; payment processing; online travel; e-grocery; classifieds; and storage and processing of information services. Joint Stock Company Kaspi.kz was incorporated in 2008 and is headquartered in Almaty, the Republic of Kazakhstan.
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