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Upturn AI SWOT - About
Joint Stock Company Kaspi.kz American Depository Shares (KSPI)
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Upturn Advisory Summary
03/27/2025: KSPI (3-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Moderate Performance
These Stocks/ETFs, based on Upturn Advisory, typically align with the market average, offering steady but unremarkable returns.
AI Based Fundamental Rating
Above Average Performance
These Stocks/ETFs, based on Upturn Advisory, frequently surpass the market, reflecting reliable and trustworthy advice.
Analysis of Past Performance
Type Stock | Historic Profit 92.68% | Avg. Invested days 82 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  4.0 | Stock Returns Performance  4.0 |
| Profits based on simulation | Last Close 03/27/2025 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 18.46B USD | Price to earnings Ratio 8.57 | 1Y Target Price 129.68 |
Price to earnings Ratio 8.57 | 1Y Target Price 129.68 | ||
Volume (30-day avg) 387150 | Beta -0.1 | 52 Weeks Range 86.24 - 139.43 | Updated Date 04/1/2025 |
52 Weeks Range 86.24 - 139.43 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 7.87% | Basic EPS (TTM) 10.84 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 40.87% | Operating Margin (TTM) 75.52% |
Management Effectiveness
Return on Assets (TTM) 15.71% | Return on Equity (TTM) 78.98% |
Valuation
Trailing PE 8.57 | Forward PE - | Enterprise Value 14729073110 | Price to Sales(TTM) 0.01 |
Enterprise Value 14729073110 | Price to Sales(TTM) 0.01 | ||
Enterprise Value to Revenue 2.93 | Enterprise Value to EBITDA 5.81 | Shares Outstanding 190016000 | Shares Floating 30875656 |
Shares Outstanding 190016000 | Shares Floating 30875656 | ||
Percent Insiders 37.92 | Percent Institutions 49.92 |
Analyst Ratings
Rating 4.56 | Target Price 130.53 | Buy 2 | Strong Buy 6 |
Buy 2 | Strong Buy 6 | ||
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 2008, evolving from a traditional bank into a leading Fintech platform in Kazakhstan, offering diverse financial and e-commerce services. It went public on the London Stock Exchange in 2020 and later listed American Depository Shares (ADS) in the US.
Core Business Areas
- Payments Platform: Enables consumers and merchants to make and receive payments through the Kaspi.kz Super App.
- Marketplace Platform: Offers a platform for merchants to sell products to consumers, including electronics, fashion, and home goods.
- Fintech Platform: Provides a range of financial products, including consumer loans, credit cards, and deposits.
Leadership and Structure
The leadership team consists of top executives focused on technology, finance, and strategy. The organizational structure involves departments for each platform (payments, marketplace, fintech) and supporting functions like risk management and compliance.
Top Products and Market Share
Key Offerings
- Competitors: Halyk Bank, ForteBank
- Kaspi.kz Super App: A mobile app offering a variety of services, including payments, e-commerce, and financial products. It has a large active user base in Kazakhstan. Competitors include Halyk Bank's Halyk Bank App and ForteBank's Forte Mobile.
- Market Share (%): Estimated to be the leading Fintech app with ~40% user base in Kazakhstan
- Competitors: Halyk Bank, ForteBank
- Consumer Loans: Provides consumer loans through the Kaspi.kz platform, facilitating purchases on the marketplace and for other needs.Competitors include other local banks and microfinance organizations
- Market Share (%): Estimated to be the leading consumer lending platform with 30% market share in Kazakhstan
Market Dynamics
Industry Overview
The Fintech industry in Kazakhstan is rapidly growing, driven by increasing internet penetration and mobile adoption. There is strong government support for digitalization of the economy.
Positioning
Kaspi.kz is positioned as a leading Super App in Kazakhstan, leveraging its integrated ecosystem of payments, marketplace, and fintech services. It is a first mover in this market.
Total Addressable Market (TAM)
The estimated TAM for the digital payments and e-commerce market in Kazakhstan is approximately $20 billion USD. Kaspi.kz is positioned to capture a significant portion of this TAM through its leading position.
Upturn SWOT Analysis
Strengths
- Strong brand recognition in Kazakhstan
- Large active user base
- Integrated platform with diverse services
- Advanced technology and data analytics capabilities
Weaknesses
- Geographic concentration in Kazakhstan
- Reliance on the Kazakh economy
- Regulatory risks in the financial services sector
- Exposure to credit risk in the lending business
Opportunities
- Expansion into neighboring countries
- Development of new financial products and services
- Partnerships with other technology companies
- Increased adoption of e-commerce in Kazakhstan
Threats
- Increased competition from local and international players
- Changes in government regulations
- Economic downturn in Kazakhstan
- Cybersecurity threats
Competitors and Market Share
Key Competitors
- SQ (Block, Inc.)
- PYPL (PayPal Holdings, Inc.)
- ADEN (Adyen N.V.)
Competitive Landscape
Kaspi.kz has the advantage of being a local champion with a deep understanding of the Kazakh market. Its integrated platform and large user base provide a competitive edge. However, it faces competition from international players with greater resources and expertise.
Major Acquisitions
Portmone.com
- Year: 2021
- Acquisition Price (USD millions): 24
- Strategic Rationale: Expanded Kaspi.kz's payments infrastructure and reach in Ukraine.
Growth Trajectory and Initiatives
Historical Growth: Kaspi.kz has demonstrated strong growth over the past years, driven by increasing adoption of its platform and services. Revenue has grown at a CAGR of 25%.
Future Projections: Analysts project continued growth for Kaspi.kz, driven by expansion into new markets, development of new products, and increasing digitalization of the Kazakh economy.
Recent Initiatives: Recent initiatives include the launch of new payment solutions, expansion of the marketplace platform, and investments in technology infrastructure.
Summary
Kaspi.kz shows strength in the Kazakh market due to its integrated platform and significant user base. It's performing well by consistently growing revenue and profits. However, it needs to be mindful of increased competition and regulatory changes. The geographic concentration is a risk, expansion into new markets could prove to be beneficial.
Similar Companies
- SQ
- PYPL
- MELI (MercadoLibre, Inc.)
Sources and Disclaimers
Data Sources:
- Company Financial Reports
- Analyst Reports
- Industry Publications
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Market data and financial metrics are subject to change.
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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