Valuation Kaspi Bank

Equities

Market Closed - Nasdaq Other stock markets 21:00:00 06/02/2026 GMT			5-day change	1st Jan Change
73.79 ^USD	-0.50%		-3.12%	-5.55%

02-02	Susquehanna Downgrades Kaspi.kz to Neutral From Positive, Adjusts Price Target to $87 From $130	MT
11-28	Sector Update: Financial Stocks Edge Higher Premarket Friday	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	4,354,043	11,739,956	5,799,411	7,955,362	9,441,086	6,958,187	6,958,187	-
Change	-	169.63%	-50.6%	37.18%	18.68%	-26.3%	0%	-
Enterprise Value (EV) ¹	4,354,043	11,739,956	5,799,411	7,955,362	8,902,249	5,746,666	4,586,847	3,113,041
Change	-	169.63%	-50.6%	37.18%	11.9%	-35.45%	-20.18%	-32.13%
P/E ratio	-	-	-	9.57x	9.15x	6.37x	5.63x	4.73x
PBR	-	-	-	9.71x	6.22x	2.84x	2.46x	2.02x
PEG	-	-	-	-	0.4x	1.17x	0.4x	0.2x
Capitalization / Revenue	6.79x	12.5x	4.41x	4.16x	3.73x	1.7x	1.45x	1.25x
EV / Revenue	6.79x	12.5x	4.41x	4.16x	3.52x	1.41x	0.95x	0.56x
EV / EBITDA	13.7x	-	-	-	4.36x	4.28x	3.5x	2.03x
EV / EBIT	13.7x	22.2x	8.05x	7.78x	6.94x	4.19x	3.06x	1.76x
EV / FCF	-	-	-	-	18.3x	4.91x	3.37x	1.99x
FCF Yield	-	-	-	-	5.46%	20.4%	29.7%	50.2%
Dividend per Share ²	-	-	-	3,200	3,400	-	2,537	2,921
Rate of return	-	-	-	7.63%	6.84%	-	6.96%	8.01%
EPS ²	-	-	-	4,381	5,431	5,728	6,475	7,718
Distribution rate	-	-	-	73%	62.6%	-	39.2%	37.8%
Net sales ¹	641,437	936,803	1,315,552	1,913,490	2,532,156	4,085,090	4,804,730	5,584,843
EBITDA ¹	317,824	-	-	-	2,041,856	1,344,111	1,311,662	1,534,179
EBIT ¹	317,824	528,802	720,574	1,022,004	1,282,289	1,371,148	1,499,543	1,767,557
Net income ¹	260,964	435,214	588,844	848,770	1,056,834	1,118,128	1,273,969	1,537,571
Net Debt ¹	-	-	-	-	-538,837	-1,211,522	-2,371,340	-3,845,147
Reference price ²	22,700.36	61,086.04	30,379.47	41,939.96	49,685.81	36,471.45	36,471.45	36,471.45
Nbr of stocks (in thousands)	191,805	192,187	190,899	189,685	190,016	190,785	190,785	-
Announcement Date	01/03/21	28/02/22	27/02/23	26/02/24	24/02/25	-	-	-

¹KZT in Million²KZT

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
KASPI BANK	6.37x	1.41x	4.28x	-.--%	14.08B
INTUIT INC.	28.07x	5.73x	13.68x	1.06%	123B
ROBINHOOD MARKETS, INC.	40.61x	16.44x	29.1x	-.--%	74.47B
ROCKET COMPANIES, INC.	-150.32x	-	-	4.24%	53.16B
ADYEN N.V.	33.65x	11.64x	22.25x	-.--%	42.24B
FIDELITY NATIONAL INFORMATION SERVICES, INC.	80.58x	3.57x	8.7x	3.12%	26.89B
HITHINK ROYALFLUSH INFORMATION NETWORK CO., LTD.	71.3x	32.4x	64.21x	1.06%	26.45B
FUTU HOLDINGS LIMITED	15.27x	1.82x	3.01x	-.--%	21.09B
AFFIRM HOLDINGS, INC.	53.47x	4.16x	14.92x	-.--%	19B
CIRCLE INTERNET GROUP, INC.	-42.11x	4.19x	20.92x	-	13.43B
Average	13.69x	9.04x	20.12x	1.05%	41.43B
Weighted average by Cap.	11.67x	9.89x	20.54x	1.17%