KSPINasdaqServices-Business Services, NECFiscal year ends December 31

Joint Stock Co Kaspi.kz

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 16, 2026

$92.62−0.56 (-0.60%)

Close on Oct 19, 2026

Margins

Share of revenue, fiscal years 2020 to 2025

70.9%

26.5%

Compound annual growth to fiscal 2025

Per year	1 year	3 years	5 years	10 years
Revenue	+59.8%	+47.1%	–	–
Gross profit	+28.7%	+34.1%	–	–
Net income	+3.2%	+22.4%	–	–
EPS, diluted	+3.0%	+22.9%	–	–

Measure	FY2020	FY2020	FY2025
Return on equity	–	–	53.5%
Return on assets	–	–	11.0%
Diluted shares	–	–	192M

Return on equity split into margin, efficiency and leverage

Net margin26.5%

Asset turnover0.42×

Equity multiplier4.85×

Return on equity, FY202553.5%

Fiscal year	Net margin	Asset turnover	Equity multiplier	Return on equity
FY2025	26.5%	0.42×	4.85×	53.5%
FY2024	41.1%	0.33×	5.86×	80.1%
FY2023	44.0%	0.32×	6.30×	88.7%

Parsed from the XBRL in Joint Stock Co Kaspi.kz's annual and quarterly filings with the SEC
Fourth quarters derived from the annual report minus nine months
Every figure in the statements links to its source filing

Trailing twelve months. Peers are matched on business description, industry and size. Ticks are peers, the dot is KSPI.

Revenue growth59.8% · median 72.6%

Gross margin70.9% · median 68.0%

Net margin26.5% · median 4.9%

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