Company Valuation: Kaspi Bank

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 8,704,704 - -
Change - -50.6% 37.18% 18.68% -19.97% 15.21% - -
Enterprise Value (EV) 11,739,956 5,799,411 7,955,362 8,902,249 6,695,841 8,704,704 8,704,704 8,704,704
Change - -50.6% 37.18% 11.9% -24.78% 30% 0% 0%
P/E - - 9.57x 9.15x 7.08x 7.81x 6.9x 5.92x
PBR - - 9.71x 6.22x 3.05x 2.99x 2.59x 2.27x
PEG - - - 0.4x 2.39x 1.58x 0.5x 0.4x
Capitalization / Revenue 12.5x 4.41x 4.16x 3.73x 1.87x 1.82x 1.55x 1.28x
EV / Revenue 0x 0x 0x 0x 0x 1.82x 1.55x 1.28x
EV / EBITDA - - - 0x 0x 5.43x 4.79x 4.12x
EV / EBIT 0x 0x 0x 0x 0x 5.78x 5.01x 3.97x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 - - 3,200 3,400 - 3,700 3,939 4,459
Rate of return - - 7.63% 6.84% - 8.08% 8.6% 9.73%
EPS 2 - - 4,381 5,431 5,592 5,868 6,641 7,741
Distribution rate - - 73% 62.6% - 63.1% 59.3% 57.6%
Net sales 1 936,803 1,315,552 1,913,490 2,532,156 4,046,074 4,780,955 5,604,007 6,822,582
EBITDA 1 - - - 2,041,856 1,556,372 1,601,769 1,818,823 2,113,110
EBIT 1 528,802 720,574 1,022,004 1,282,289 1,331,918 1,504,814 1,736,063 2,193,935
Net income 1 435,214 588,844 848,770 1,056,834 1,067,707 1,119,929 1,289,201 1,533,552
Net Debt - - - -538,837 -859,933 - - -
Reference price 2 61,086.04 30,379.47 41,939.96 49,685.81 39,603.71 45,807.66 45,807.66 45,807.66
Nbr of stocks (in thousands) 192,187 190,899 189,685 190,016 190,785 190,027 - -
Announcement Date 28/02/22 27/02/23 26/02/24 24/02/25 02/03/26 - - -
1KZT in Million2KZT
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
7.81x - - 8.08% 18.76B
21.74x4.37x10.34x1.38% 94.55B
46.2x15.53x29.12x-.--% 85.92B
27.62x8.83x17x-.--% 38.8B
63.27x5.77x20.09x-.--% 26.24B
41.58x21.71x35.5x2.01% 25.7B
6.35x3.03x7.19x4.19% 22.13B
67.6x5.19x22.19x-.--% 18.18B
12.26x-0.35x-0.61x-.--% 14.75B
39.23x19.18x30.11x-.--% 12.87B
Average 33.36x 9.25x 18.99x 1.57% 35.79B
Weighted average by Cap. 33.60x 9.44x 19.22x 1.19%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. KSPI Stock
  4. Valuation Kaspi Bank