Joint Stock Co Kaspi.kz
KSPI- Exchange
- Nasdaq
- Industry
- Services-Business Services, NEC
- SEC CIK
- 0001985487
No open-market purchases or sales by Joint Stock Co Kaspi.kz insiders were filed in the last 90 days; 207 institutions reported holding it in 13F filings for Q2 2026, worth $7.27B in total; 4 superinvestors hold it, including Southeastern Asset Management (Longleaf) and Fairfax Financial.
- Currency
- KZT
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 8, 2026, 3:09 PM ET
Amounts are in KZT, the currency Joint Stock Co Kaspi.kz reports in. Lines marked ≈ US$ convert key figures to US dollars.
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
| Filing | 20-F | 20-F | 20-F |
| Reported | – | – | – |
| Revenue | KZT 4.05T | KZT 2.53T | KZT 1.91T |
| Cost of revenue | KZT 1.18T | KZT 303.9B | KZT 166.4B |
| Operating expenses | KZT 2.71T | KZT 1.25T | KZT 891.5B |
| Research and development | KZT 208.6B | KZT 109.6B | KZT 88.7B |
| Selling, general and administrative | KZT 78.3B | KZT 32.9B | KZT 29.5B |
| Interest expense | KZT 825.8B | KZT 616.1B | KZT 478.0B |
| Income tax | KZT 264.2B | KZT 225.5B | KZT 173.2B |
| Net income | KZT 1.07T | KZT 1.06T | KZT 848.8B |
| EPS, basic | KZT 5,631.00 | KZT 5,477.00 | KZT 4,431.00 |
| EPS, diluted | KZT 5,592.00 | KZT 5,431.00 | KZT 4,381.00 |
| Weighted shares, basic | 190.6M | 189.8M | 189.9M |
| Weighted shares, diluted | 191.9M | 191.4M | 192.1M |
| Margins and growth | |||
| Net margin | 26.4% | 41.7% | 44.4% |
| Revenue growth, year over year | +59.8% | +32.3% | – |
| Net income growth, year over year | +1.0% | +24.5% | – |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
| Filing | 20-F | 20-F | 20-F |
| Reported | – | – | – |
| Cash and equivalents | KZT 903.1B | KZT 619.5B | KZT 820.5B |
| Inventory | KZT 124.5B | – | – |
| Goodwill | KZT 447.1B | KZT 17.4B | – |
| Total assets | KZT 11.1T | KZT 8.38T | KZT 6.82T |
| Total liabilities | KZT 8.48T | KZT 6.80T | KZT 5.72T |
| Shareholders' equity | KZT 2.60T | KZT 1.57T | KZT 1.10T |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 |
| Filing | 20-F | 20-F | 20-F |
| Reported | – | – | – |
| Operating cash flow | KZT 673.6B | KZT 581.9B | KZT 1.11T |
| Depreciation and amortization | KZT 78.3B | KZT 28.8B | KZT 25.6B |
| Dividends paid | KZT 0 | KZT 646.1B | KZT 560.1B |
| Share buybacks | KZT 21.9B | KZT 2.85B | KZT 60.7B |
| Investing cash flow | KZT -507.8B | KZT -108.4B | KZT -218.4B |
| Financing cash flow | KZT 150.3B | KZT -709.8B | KZT -676.0B |
| Net change in cash | KZT 283.7B | KZT -201.0B | KZT 205.1B |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
- Exchange rates for KZT aren't loaded, so amounts are shown in KZT only.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.