Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) released its quarterly earnings data on Monday. The company reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.19, FiscalAI reports. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Joint Stock Company Kaspi.kz had a net margin of 26.59% and a return on equity of 48.73%.

Here are the key takeaways from Joint Stock Company Kaspi.kz’s conference call:

• E‑commerce strong momentum: E‑commerce GMV grew ~41% YoY (constant‑currency, pro‑forma) with transactions +43% and quarterly purchase frequency up to 15 (↑44% YoY), while advertising and delivery revenue jumped ~73%, lifting the take‑rate ~90bps to 15.8%.
• Solid top‑line and shareholder returns: Consolidated revenue rose ~31% YoY and adjusted EBITDA +9% YoY, and the board recommended a KZT 850 per ADS dividend (≈64% payout), supporting shareholder return expectations.
• Fintech funding headwinds despite portfolio growth: Average net loan portfolio grew ~23% and credit metrics remain low (1st/2nd payment defaults 0.9%/0.4%, delinquency 2.2%), but funding costs are ~220bps higher YoY, pressuring NII and profitability until interest rates ease.
• Turkey/Hepsiburada progressing toward breakeven: Losses narrowed in Q1 as Kaspi invests in delivery, tech and merchant onboarding; management targets EBITDA breakeven (and eventual FCF positivity) while driving higher engagement on the platform.
• Guidance and liquidity: Full‑year guidance remains largely unchanged (GMV ~20%, TPV ~15%, EBITDA growth ~5%), and the company raised $600m (5.9%) for general corporate purposes to fund initiatives across Kazakhstan and Turkey.

Joint Stock Company Kaspi.kz Stock Performance

NASDAQ KSPI traded up $1.61 during trading on Monday, reaching $87.51. The company’s stock had a trading volume of 205,294 shares, compared to its average volume of 533,131. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 8.10 and a beta of 0.98. Joint Stock Company Kaspi.kz has a twelve month low of $68.59 and a twelve month high of $99.20. The business’s fifty day moving average price is $77.56 and its 200-day moving average price is $76.66.

Joint Stock Company Kaspi.kz Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 16th. Shareholders of record on Thursday, April 16th were paid a $1.7595 dividend. The ex-dividend date was Thursday, April 16th. Joint Stock Company Kaspi.kz’s payout ratio is currently 16.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its stake in Joint Stock Company Kaspi.kz by 1,518.9% in the third quarter. Ameriprise Financial Inc. now owns 869,201 shares of the company’s stock valued at $70,996,000 after purchasing an additional 815,509 shares during the period. Russell Investments Group Ltd. increased its stake in Joint Stock Company Kaspi.kz by 21.4% in the fourth quarter. Russell Investments Group Ltd. now owns 186,320 shares of the company’s stock valued at $14,557,000 after purchasing an additional 32,820 shares during the period. Public Employees Retirement System of Ohio increased its stake in Joint Stock Company Kaspi.kz by 16.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 167,125 shares of the company’s stock valued at $13,057,000 after purchasing an additional 23,500 shares during the period. North of South Capital LLP acquired a new position in Joint Stock Company Kaspi.kz in the fourth quarter valued at $1,425,000. Finally, Advisory Services Network LLC increased its stake in Joint Stock Company Kaspi.kz by 15.3% in the fourth quarter. Advisory Services Network LLC now owns 3,787 shares of the company’s stock valued at $296,000 after purchasing an additional 502 shares during the period. 32.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Joint Stock Company Kaspi.kz from a “strong sell” rating to a “hold” rating in a research report on Monday, February 2nd. Susquehanna lowered shares of Joint Stock Company Kaspi.kz from a “positive” rating to a “neutral” rating and set a $87.00 price target on the stock. in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded shares of Joint Stock Company Kaspi.kz from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Joint Stock Company Kaspi.kz has an average rating of “Hold” and an average target price of $96.67.

Joint Stock Company Kaspi.kz Company Profile

Joint Stock Company Kaspi.kz is a leading financial technology and e-commerce group headquartered in Almaty, Kazakhstan. The company has built one of the country’s largest digital ecosystems, offering a suite of integrated services that span consumer banking, payments, online marketplaces and merchant acquiring. Through its mobile and web platforms, Kaspi.kz aims to simplify everyday financial and shopping activities for individuals and businesses across Kazakhstan.

The company’s core offerings include digital banking solutions such as deposit accounts, digital wallets and money transfers, alongside consumer lending products that enable point-of-sale financing and “buy now, pay later” purchases.