Joint Stock Company Kaspi.kz (NASDAQ:KSPI) Posts Earnings Results, Beats Estimates By $0.19 EPS

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

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

Shares of NASDAQ:KSPI traded up $1.37 on Monday, hitting $87.27. 231,648 shares of the company were exchanged, compared to its average volume of 533,508. The company’s 50 day moving average price is $77.56 and its two-hundred day moving average price is $76.66. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 8.09 and a beta of 0.98. Joint Stock Company Kaspi.kz has a one year low of $68.59 and a one year high of $99.20.

Joint Stock Company Kaspi.kz Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on KSPI shares. 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 report on Monday, February 2nd. Zacks Research upgraded shares of Joint Stock Company Kaspi.kz from a “strong sell” rating to a “hold” rating 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 report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Joint Stock Company Kaspi.kz has an average rating of “Hold” and a consensus target price of $96.67.

Institutional Investors Weigh In On Joint Stock Company Kaspi.kz

A number of institutional investors have recently added to or reduced their stakes in KSPI. Advisory Services Network LLC raised its holdings in Joint Stock Company Kaspi.kz by 15.3% in the 4th quarter. Advisory Services Network LLC now owns 3,787 shares of the company’s stock valued at $296,000 after acquiring an additional 502 shares in the last quarter. North of South Capital LLP acquired a new stake in shares of Joint Stock Company Kaspi.kz during the 4th quarter worth approximately $1,425,000. Public Employees Retirement System of Ohio increased its position in shares of Joint Stock Company Kaspi.kz by 16.4% during 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. Russell Investments Group Ltd. increased its position in shares of Joint Stock Company Kaspi.kz by 21.4% during 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. Finally, Ameriprise Financial Inc. raised its stake in shares of 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 in the last quarter. 32.20% of the stock is owned by institutional investors and hedge funds.

About Joint Stock Company Kaspi.kz

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.