FRHC vs. KSPI: Freedom vs. Kaspi.kz Stock Comparison

Company Profile

Freedom (FRHC) and Kaspi.kz (KSPI) both fall under the Financial Services industry group, but FRHC is classified in Capital Markets while KSPI is classified in Consumer Finance.

Freedom (FRHC) has been public since February 7, 2018, giving it a longer listed trading history, while Kaspi.kz (KSPI) listed on January 19, 2024 and still has a shorter public-market record.

Freedom (FRHC) trades as ordinary local shares, while Kaspi.kz (KSPI) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Kaspi.kz (KSPI) at 44.78% sits in the top ROE quartile, while Freedom (FRHC) at 10.68% is closer to the peer norm — stronger capital efficiency for KSPI.

Both Freedom (FRHC) at 8.43% and Kaspi.kz (KSPI) at 24.15% keep about the typical share of revenue as profit for their industries — neither bottom line stands out from peers.

Both Freedom (FRHC) at 5.01% and Kaspi.kz (KSPI) at 0.00% generate less operating profit per sales dollar than peers, sitting in the lower operating margin quartile of their industries.

Profitability Metrics

Growth

Kaspi.kz (KSPI) at 59.78% sits in the top revenue growth quartile, while Freedom (FRHC) at 8.97% is closer to the peer norm — faster top-line expansion for KSPI.

Freedom (FRHC) at 98.93% sits in the top EPS growth quartile, while Kaspi.kz (KSPI) at 2.96% is closer to the peer norm — faster per-share earnings growth for FRHC.

Growth Metrics

Financial Strength

current ratio doesn’t apply on either side: Freedom (FRHC) in Financial Services and Kaspi.kz (KSPI) in Financial Services both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

debt-to-equity ratio is set aside for both: Freedom (FRHC) in Financial Services and Kaspi.kz (KSPI) in Financial Services run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Dividends

Neither Freedom (FRHC) nor Kaspi.kz (KSPI) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.

Freedom (FRHC) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Kaspi.kz (KSPI) reports a payout of 33.12%, ranking against industry peers normally.

Dividend Metrics

Valuation

Kaspi.kz (KSPI) at 8.40 sits in the cheaper P/E ratio quartile, while Freedom (FRHC) at 70.97 trades above its peer range — a wide earnings-valuation gap relative to industry peers.

A sales-based read is only available for Freedom (FRHC), whose P/S ratio of 6.51 ranks against industry peers; Kaspi.kz (KSPI) reports no figure this period.

Kaspi.kz (KSPI) at 0.01 looks cheap against book in the lower P/B ratio quartile, while Freedom (FRHC) at 7.16 carries a premium in the upper quartile — a clear price-to-book gap.

Valuation Metrics