Valuation Kaspi Bank Kazakhstan S.E.

Stocks

Real-time Estimate Cboe BZX Other stock markets 23:41:36 07/08/2026 +03			5-day change	1st Jan Change
91.45 ^USD	+0.86%		+4.28%	+12.65%

07-15	Joint Stock Company Kaspi.kz acquired Rabobank A.S. from Rabobank International Holding BV.	CI
06-24	Kaspi.kz Receives Turkish Regulatory Approval to Acquire Rabobank in Turkiye	MT

Data adjusted to current consolidation scope

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Market Cap ¹	11,739,956	5,799,411	7,955,362	9,441,086	7,555,774	8,176,064	-	-
Change	-	-50.6%	37.18%	18.68%	-19.97%	8.21%	-	-
Enterprise Value (EV)	11,739,956	5,799,411	7,955,362	8,902,249	6,695,841	8,176,064	8,176,064	8,176,064
Change	-	-50.6%	37.18%	11.9%	-24.78%	22.11%	0%	0%
P/E	-	-	9.57x	9.15x	7.08x	7.51x	6.49x	5.48x
PBR	-	-	9.71x	6.22x	3.05x	2.76x	2.39x	2.09x
PEG	-	-	-	0.4x	2.39x	8.89x	0.4x	0.3x
Capitalization / Revenue	12.5x	4.41x	4.16x	3.73x	1.87x	1.64x	1.45x	1.13x
EV / Revenue	0x	0x	0x	0x	0x	1.64x	1.45x	1.13x
EV / EBITDA	-	-	-	0x	0x	5.25x	4.42x	3.84x
EV / EBIT	0x	0x	0x	0x	0x	5.4x	4.75x	3.69x
EV / FCF	-	-	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-	-	-
Dividend per Share ²	-	-	3,200	3,400	-	3,400	3,728	4,164
Rate of return	-	-	7.63%	6.84%	-	8.03%	8.81%	9.84%
EPS ²	-	-	4,381	5,431	5,592	5,639	6,519	7,728
Distribution rate	-	-	73%	62.6%	-	60.3%	57.2%	53.9%
Net sales ¹	936,803	1,315,552	1,913,490	2,532,156	4,046,074	4,984,553	5,620,009	7,216,992
EBITDA ¹	-	-	-	2,041,856	1,556,372	1,557,250	1,851,662	2,128,665
EBIT ¹	528,802	720,574	1,022,004	1,282,289	1,331,918	1,514,715	1,719,773	2,214,488
Net income ¹	435,214	588,844	848,770	1,056,834	1,067,707	1,081,036	1,260,828	1,528,585
Net Debt	-	-	-	-538,837	-859,933	-	-	-
Reference price ²	61,086.04	30,379.47	41,939.96	49,685.81	39,603.71	42,322.71	42,322.71	42,322.71
Nbr of stocks (in thousands)	192,187	190,899	189,685	190,016	190,785	190,027	-	-
Announcement Date	2/28/22 A	2/27/23 A	2/26/24 A	2/24/25 A	3/2/26 A	-	-	-

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.($)
INTUIT INC.	20.24x	4.07x	9.62x	1.48%	88.05B
ROBINHOOD MARKETS, INC.	43.86x	14.66x	27.53x	-.--%	81.56B
ADYEN N.V.	24.49x	7.14x	13.69x	-.--%	33.95B
HITHINK ROYALFLUSH INFORMATION NETWORK CO., LTD.	43.15x	22.91x	37.47x	1.94%	26.64B
AFFIRM HOLDINGS, INC.	62x	5.63x	19.62x	-.--%	25.65B
FIDELITY NATIONAL INFORMATION SERVICES, INC.	6.29x	3.02x	7.18x	4.2%	22.08B
KASPI BANK	7.62x	-	-	7.91%	17.44B
CIRCLE INTERNET GROUP, INC.	63.66x	4.5x	20.21x	-.--%	16.07B
FUTU HOLDINGS LIMITED	12.24x	-0.38x	-0.67x	-.--%	14.65B
Average	31.51x	7.69x	16.83x	1.73%	36.23B
Weighted average by Cap.	31.91x	8.70x	17.92x	1.27%