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Kaspi.kz JSC is the payment, marketplace, and Fintech ecosystem in Kazakhstan. The firm provides interconnected technologically seamless products and services that help people to pay, shop and manage their finances. Its operating segment includes the Payments Platform that connects its customers, which consist of both consumers and merchants, to facilitate cashless, digital transactions, the Marketplace Platform that connects merchants and consumers enabling merchants to increase their sales and consumers to buy a broad selection of products and services offered by a variety of merchants, and Fintech Platform that enables customers to manage their personal finances online and access consumer finance and deposit products through the Kaspi.kz Super App.
2008
9.6K+
LTM Revenue $10.5M
LTM EBITDA $6.6M
$16.2B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Kaspi.kz has a last 12-month revenue (LTM) of $10.5M and a last 12-month EBITDA of $6.6M.
In the most recent fiscal year, Kaspi.kz achieved revenue of $2.52T and an EBITDA of $1.27T.
Kaspi.kz expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Kaspi.kz valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $10.5M | XXX | $2.52T | XXX | XXX | XXX |
| Gross Profit | $7.0M | XXX | $1.57T | XXX | XXX | XXX |
| Gross Margin | 67% | XXX | 62% | XXX | XXX | XXX |
| EBITDA | $6.6M | XXX | $1.27T | XXX | XXX | XXX |
| EBITDA Margin | 63% | XXX | 50% | XXX | XXX | XXX |
| EBIT | $5.3M | XXX | $1.27T | XXX | XXX | XXX |
| EBIT Margin | 51% | XXX | 50% | XXX | XXX | XXX |
| Net Profit | $4.4M | XXX | $1.04T | XXX | XXX | XXX |
| Net Margin | 42% | XXX | 41% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
As of May 30, 2025, Kaspi.kz's stock price is $86.
Kaspi.kz has current market cap of $16.4B, and EV of $16.2B.
See Kaspi.kz trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $16.2B | $16.4B | XXX | XXX | XXX | XXX | $11.53 |
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Start Free TrialAs of May 30, 2025, Kaspi.kz has market cap of $16.4B and EV of $16.2B.
Kaspi.kz's trades at 0.0x EV/Revenue multiple, and 0.0x EV/EBITDA.
Equity research analysts estimate Kaspi.kz's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Kaspi.kz has a P/E ratio of 7.3x.
See valuation multiples for Kaspi.kz and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $16.4B | XXX | $16.4B | XXX | XXX | XXX |
| EV (current) | $16.2B | XXX | $16.2B | XXX | XXX | XXX |
| EV/Revenue | 3.0x | XXX | 0.0x | XXX | XXX | XXX |
| EV/EBITDA | 4.9x | XXX | 0.0x | XXX | XXX | XXX |
| EV/EBIT | 6.0x | XXX | 0.0x | XXX | XXX | XXX |
| EV/Gross Profit | 4.6x | XXX | n/a | XXX | XXX | XXX |
| P/E | 7.3x | XXX | 0.0x | XXX | XXX | XXX |
| EV/FCF | 7.3x | XXX | 0.0x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialKaspi.kz's last 12 month revenue growth is 15%
Kaspi.kz's revenue per employee in the last FY averaged $262M, while opex per employee averaged $31.2M for the same period.
Kaspi.kz's rule of 40 is 68% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Kaspi.kz's rule of X is 100% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Kaspi.kz and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 15% | XXX | -95% | XXX | XXX | XXX |
| EBITDA Margin | 63% | XXX | 50% | XXX | XXX | XXX |
| EBITDA Growth | 19% | XXX | -94% | XXX | XXX | XXX |
| Rule of 40 | 68% | XXX | 65% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 100% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $262M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $31.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 2% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 4% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 12% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Adyen | XXX | XXX | XXX | XXX | XXX | XXX |
| EML Payments | XXX | XXX | XXX | XXX | XXX | XXX |
| Tyro Payments | XXX | XXX | XXX | XXX | XXX | XXX |
| One97 Communications | XXX | XXX | XXX | XXX | XXX | XXX |
| AGS Transact | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Kaspi.kz acquired XXX companies to date.
Last acquisition by Kaspi.kz was XXXXXXXX, XXXXX XXXXX XXXXXX . Kaspi.kz acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was Kaspi.kz founded? | Kaspi.kz was founded in 2008. |
| Where is Kaspi.kz headquartered? | Kaspi.kz is headquartered in United States of America. |
| How many employees does Kaspi.kz have? | As of today, Kaspi.kz has 9.6K+ employees. |
| Who is the CEO of Kaspi.kz? | Kaspi.kz's CEO is Mr. Mikheil Lomtadze. |
| Is Kaspi.kz publicy listed? | Yes, Kaspi.kz is a public company listed on NAS. |
| What is the stock symbol of Kaspi.kz? | Kaspi.kz trades under KSPI ticker. |
| When did Kaspi.kz go public? | Kaspi.kz went public in 2019. |
| Who are competitors of Kaspi.kz? | Similar companies to Kaspi.kz include e.g. Adyen, EML Payments, Tyro Payments, One97 Communications. |
| What is the current market cap of Kaspi.kz? | Kaspi.kz's current market cap is $16.4B |
| What is the current revenue of Kaspi.kz? | Kaspi.kz's last 12 months revenue is $10.5M. |
| What is the current revenue growth of Kaspi.kz? | Kaspi.kz revenue growth (NTM/LTM) is 15%. |
| What is the current EV/Revenue multiple of Kaspi.kz? | Current revenue multiple of Kaspi.kz is 3.0x. |
| Is Kaspi.kz profitable? | Yes, Kaspi.kz is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Kaspi.kz? | Kaspi.kz's last 12 months EBITDA is $6.6M. |
| What is Kaspi.kz's EBITDA margin? | Kaspi.kz's last 12 months EBITDA margin is 63%. |
| What is the current EV/EBITDA multiple of Kaspi.kz? | Current EBITDA multiple of Kaspi.kz is 4.9x. |
| What is the current FCF of Kaspi.kz? | Kaspi.kz's last 12 months FCF is $4.4M. |
| What is Kaspi.kz's FCF margin? | Kaspi.kz's last 12 months FCF margin is 42%. |
| What is the current EV/FCF multiple of Kaspi.kz? | Current FCF multiple of Kaspi.kz is 7.3x. |
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