Joint Stock Company Kaspi.kz (KSPI) Financial Ratios: P/E, ROE & More

Joint Stock Company Kaspi.kz (KSPI) Financial Ratios

For fiscal 2025 (fiscal year ended Dec 31, 2025), Joint Stock Company Kaspi.kz had a P/E ratio of 7.04 (down from 9.08), return on equity of 51.1% (down from 79.0%), debt-to-equity of 0.14 (up from 0.09) and a current ratio of 5.64 (up from 4.97). A current ratio of 5.64 means current assets exceed current liabilities. Its dividend yield was 2.14%.

Joint Stock Company Kaspi.kz Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Valuation Ratios
P/E Ratio	7.04	9.08	9.46	9.96	27.55	16.75
Forward P/E	6.11	7.40	-	-	-	-
P/S Ratio	1.87	3.71	4.18	4.59	13.44	7.25
P/B Ratio	2.90	6.00	7.21	7.06	23.57	11.08
Price/Tangible Book	4.59	6.63	7.86	7.25	24.50	11.46
Price/FCF	15.38	19.42	7.53	6.06	261.77	7.29
Price/OCF	11.22	16.23	7.19	5.71	169.11	7.08
Enterprise Value Ratios
EV/Revenue	1.86	3.58	4.00	4.44	13.43	7.16
EV/EBITDA	3.25	4.69	5.03	5.55	16.67	9.26
EV/EBIT	3.36	4.76	5.12	5.64	16.97	9.45
EV/FCF	15.31	18.72	7.21	5.86	261.70	7.20
Profitability & Returns
Return on Equity (ROE)	51.15%	78.98%	88.01%	88.52%	96.78%	76.30%
Return on Assets (ROA)	14.38%	15.71%	15.58%	14.30%	13.66%	11.43%
Return on Invested Capital (ROIC)	114.94%	205.05%	281.24%	185.20%	158.52%	135.86%
Return on Capital Employed (ROCE)	23.40%	27.00%	26.00%	23.80%	24.50%	19.80%
Leverage & Solvency Ratios
Debt/Equity	0.14	0.09	0.15	0.27	0.56	0.55
Debt/EBITDA	0.15	0.07	0.11	0.22	0.40	0.47
Debt/FCF	0.72	0.28	0.15	0.23	6.25	0.36
Liquidity Ratios
Current Ratio	5.64	4.97	4.71	4.21	3.86	3.65
Quick Ratio	5.35	4.88	4.63	4.13	3.80	3.55
Efficiency Ratios
Asset Turnover	0.42	0.34	0.32	0.29	0.28	0.24
Inventory Turnover	17.19	21.75	-	-	-	-
Yield & Distribution Ratios
Earnings Yield	14.20%	11.01%	10.58%	10.04%	3.63%	5.97%
FCF Yield	6.50%	5.15%	13.27%	16.50%	0.38%	13.71%
Dividend Yield	2.14%	5.13%	7.62%	5.55%	1.43%	7.75%
Payout Ratio	-	62.14%	66.57%	35.91%	78.80%	67.20%
Buyback Yield	-0.25%	0.33%	0.99%	0.18%	-0.32%	-2.63%
Total Return	1.89%	5.46%	8.61%	5.73%	1.10%	5.11%

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Joint Stock Company Kaspi.kz Financial Ratios

What is Joint Stock Company Kaspi.kz's P/E ratio?

Joint Stock Company Kaspi.kz's P/E ratio was 7.04 for fiscal 2025 (period ended Dec 31, 2025). It was 9.08 a year earlier.

What is Joint Stock Company Kaspi.kz's return on equity?

Joint Stock Company Kaspi.kz's return on equity (ROE) was 51.1% for fiscal 2025 (period ended Dec 31, 2025). It was 79.0% a year earlier.

What is Joint Stock Company Kaspi.kz's debt-to-equity ratio?

Joint Stock Company Kaspi.kz's debt-to-equity ratio was 0.14 for fiscal 2025 (period ended Dec 31, 2025). It was 0.09 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition