What is KSPI revenue?

Joint Stock Company Kaspi.kz (KSPI) reported KZT 4.05T of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 59.8% from the year before.

Yes. Joint Stock Company Kaspi.kz earned KZT 1.07T in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 26.5%.

How much cash and debt does KSPI have?

Joint Stock Company Kaspi.kz reported KZT 903.14B in cash and cash equivalents on its most recent balance sheet in SEC filings.

How fast is KSPI revenue growing?

Joint Stock Company Kaspi.kz's revenue changed +59.8% in fiscal 2025, to KZT 4.05T.

What is KSPI gross margin?

Joint Stock Company Kaspi.kz's gross profit was KZT 2.87T on KZT 4.05T of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 70.9%.

What is KSPI free cash flow?

Joint Stock Company Kaspi.kz generated KZT 491.10B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of KZT 673.61B less capital expenditures.

What is KSPI earnings per share?

Diluted earnings per share were KZT 5592.00 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.

When did KSPI last report financial results?

The latest statements here come from Joint Stock Company Kaspi.kz's 20-F filed on Mar 16, 2026, covering the period ended Dec 31, 2025.

Financials · KSPI

Joint Stock Company Kaspi.kz (KSPI) financials

For fiscal 2025 (ended Dec 31, 2025), Joint Stock Company Kaspi.kz reported KZT 4.05T of revenue and KZT 1.07T of net income. Figures are in KZT, the currency of its SEC filings.

Revenue, FY2025: KZT 4.05T
Revenue growth, YoY: +59.8%
Net income, FY2025: KZT 1.07T
Net income growth, YoY: +3.2%
Net margin: 26.5%
Free cash flow, FY2025: KZT 491.10B
EPS, diluted, FY2025: KZT 5592.00
EPS growth, YoY: +3.0%
Cash: KZT 903.14B

Annual revenueKZT 4.05T

FY2021FY2025

Annual net incomeKZT 1.07T

FY2021FY2025

Annual free cash flowKZT 491.10B

FY2021FY2025

KSPI revenue and earnings growth

KSPI revenueFY2025KZT 4.05T

FY YoY: +59.8%

KSPI revenue was KZT 4.05T for fiscal 2025 (ended Dec 31, 2025), up 59.8% from fiscal 2024. It rose in each of the last 4 fiscal years. Fiscal 2025 is the highest of the 5 fiscal years on file.

KSPI net incomeFY2025KZT 1.07T

FY YoY: +3.2%

KSPI net income was KZT 1.07T for fiscal 2025 (ended Dec 31, 2025), up 3.2% from fiscal 2024. It rose in each of the last 4 fiscal years. Fiscal 2025 is the highest of the 5 fiscal years on file.

KSPI EPSFY2025KZT 5592.00

FY YoY: +3.0%

KSPI diluted EPS was KZT 5592.00 for fiscal 2025 (ended Dec 31, 2025), up 3.0% from fiscal 2024.

KSPI free cash flowFY2025KZT 491.10B

FY YoY: +1.0%

KSPI free cash flow was KZT 491.10B for fiscal 2025 (ended Dec 31, 2025), up 1.0% from fiscal 2024. It rose in 3 of the last 4 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021
Revenue	KZT 4.05T	KZT 2.53T	KZT 1.91T	KZT 1.27T	KZT 884.82B
Cost of revenue	KZT 1.18T	KZT 303.86B	KZT 166.36B	KZT 82.75B	KZT 56.83B
Gross profit	KZT 2.87T	KZT 2.23T	KZT 1.75T	KZT 1.19T	KZT 827.99B
Research and development	KZT 208.58B	KZT 109.55B	KZT 88.66B	KZT 60.81B	KZT 44.39B
Selling, general and admin	KZT 78.25B	KZT 32.90B	KZT 29.47B	KZT 24.77B	KZT 23.68B
Interest expense	KZT 825.85B	KZT 616.12B	KZT 478.01B	KZT 278.68B	KZT 171.49B
Pre-tax income	KZT 1.33T	KZT 1.28T	KZT 1.02T	KZT 720.57B	KZT 528.80B
Income tax	KZT 264.21B	KZT 225.46B	KZT 173.23B	KZT 131.73B	KZT 93.59B
Net income	KZT 1.07T	KZT 1.04T	KZT 841.35B	KZT 585.03B	KZT 431.91B
EPS, basic	KZT 5631.00	KZT 5477.00	KZT 4431.00	KZT 3051.00	KZT 2247.00
EPS, diluted	KZT 5592.00	KZT 5431.00	KZT 4381.00	KZT 3016.00	KZT 2222.00
Diluted shares	191.9M	191.4M	192.1M	194.0M	194.3M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021
Cash and equivalents	KZT 903.14B	KZT 619.47B	KZT 820.47B	KZT 615.36B	KZT 342.10B
Inventory	KZT 124.52B	KZT 16.16B	-	-	-
Goodwill	KZT 447.13B	KZT 17.44B	KZT 34.08B	-	-
Total assets	KZT 11.08T	KZT 8.38T	KZT 6.82T	KZT 5.12T	-
Total liabilities	KZT 8.48T	KZT 6.80T	KZT 5.72T	KZT 4.30T	-
Shareholders' equity	KZT 2.49T	KZT 1.52T	KZT 1.10T	KZT 825.69B	KZT 504.69B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021
Operating cash flow	KZT 673.61B	KZT 581.89B	KZT 1.11T	KZT 1.02T	KZT 70.35B
Capital expenditures	KZT 182.51B	KZT 95.73B	KZT 50.26B	KZT 59.47B	KZT 24.90B
Free cash flow	KZT 491.10B	KZT 486.17B	KZT 1.06T	KZT 961.52B	KZT 45.45B
Investing cash flow	-KZT 507.80B	-KZT 108.36B	-KZT 218.36B	-KZT 487.16B	KZT 289.75B
Financing cash flow	KZT 150.25B	-KZT 709.77B	-KZT 675.97B	-KZT 275.91B	-KZT 352.58B
Dividends paid	KZT 0	KZT 646.06B	KZT 560.13B	KZT 210.10B	KZT 340.36B
Share repurchases	KZT 21.91B	KZT 2.85B	KZT 60.70B	KZT 63.67B	-

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021
Revenue growth, YoY	59.8%	32.3%	50.6%	43.6%	-
Net income growth, YoY	3.2%	23.6%	43.8%	35.4%	-
EPS growth, YoY	3.0%	24.0%	45.3%	35.7%	-
Gross margin	70.9%	88.0%	91.3%	93.5%	93.6%
Net margin	26.5%	41.1%	44.0%	46.0%	48.8%
Free cash flow margin	12.1%	19.2%	55.2%	75.7%	5.1%
Return on equity	43.1%	68.5%	76.3%	70.9%	85.6%
Return on assets	9.7%	12.4%	12.3%	11.4%	-

Source: XBRL data Joint Stock Company Kaspi.kz files with the SEC, latest filing dated Mar 16, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.

KSPI FAQ

9 questions

What is KSPI revenue?
Joint Stock Company Kaspi.kz (KSPI) reported KZT 4.05T of revenue for fiscal 2025 (ended Dec 31, 2025). That is up 59.8% from the year before.
Is KSPI profitable?
Yes. Joint Stock Company Kaspi.kz earned KZT 1.07T in net income for fiscal 2025 (ended Dec 31, 2025), a net margin of 26.5%.
How much cash and debt does KSPI have?
Joint Stock Company Kaspi.kz reported KZT 903.14B in cash and cash equivalents on its most recent balance sheet in SEC filings.
How fast is KSPI revenue growing?
Joint Stock Company Kaspi.kz's revenue changed +59.8% in fiscal 2025, to KZT 4.05T.
What is KSPI gross margin?
Joint Stock Company Kaspi.kz's gross profit was KZT 2.87T on KZT 4.05T of revenue for fiscal 2025 (ended Dec 31, 2025), a gross margin of 70.9%.
What is KSPI free cash flow?
Joint Stock Company Kaspi.kz generated KZT 491.10B of free cash flow for fiscal 2025 (ended Dec 31, 2025), which is operating cash flow of KZT 673.61B less capital expenditures.
What is KSPI earnings per share?
Diluted earnings per share were KZT 5592.00 for fiscal 2025 (ended Dec 31, 2025), from SEC filings, restated for any stock split those filings show.
When did KSPI last report financial results?
The latest statements here come from Joint Stock Company Kaspi.kz's 20-F filed on Mar 16, 2026, covering the period ended Dec 31, 2025.
Where does this KSPI financial data come from?
Quantisnow builds these statements from the structured XBRL data Joint Stock Company Kaspi.kz files with the SEC. It is provided for information only and is not investment advice.