Seek Returns

KSPI vs. NDAQ: Kaspi.kz vs. Nasdaq Stock Comparison

How do Kaspi.kz (KSPI) and Nasdaq (NDAQ) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

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

Nasdaq (NDAQ) carries decades of public-market history since July 1, 2002, while Kaspi.kz (KSPI) listed on January 19, 2024 — long-window comparisons have far more historical data on the NDAQ side.

Nasdaq (NDAQ) 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.

Company profile comparison for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
Profile ItemKSPINDAQ
NameKaspi.kz JSC ADRNasdaq, Inc. Common Stock
Country/RegionKazakhstanUnited States
GICS SectorFinancialsFinancials
GICS Industry GroupFinancial ServicesFinancial Services
GICS IndustryConsumer FinanceCapital Markets
GICS Sub-IndustryConsumer FinanceFinancial Exchanges & Data
Market Capitalization17.42 billion USD59.88 billion USD
CurrencyUSDUSD
ExchangeNasdaqNasdaq
Listing DateJanuary 19, 2024July 1, 2002
Security TypeADRCommon Stock

Price Performance

Cumulative Growth

KSPI
NDAQ
GSPC
Loading price history…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

Loading price history…
Trailing total returns for Kaspi.kz (KSPI) and Nasdaq (NDAQ). Returns over one year are annualized.

Calendar-Year Returns

Loading price history…
Calendar-year total returns for Kaspi.kz (KSPI) and Nasdaq (NDAQ). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
Total Return (1Y)34.75%26.55%
Total Return (3Y, Annualized)--30.18%
Total Return (5Y, Annualized)--10.68%

Risk Profile

Drawdown History

KSPI
NDAQ
GSPC
Loading price history…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

Loading price history…
Distribution of monthly total returns for Kaspi.kz (KSPI) and Nasdaq (NDAQ). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
Volatility (1Y, Annualized)34.36%28.74%
Beta (5Y)1.050.94
Max Drawdown (5Y)-48.88%-32.57%
Avg. Volume (3M)566.23K3.13M

Risk-Adjusted Performance

Risk-Return Positioning

Loading chart…
KSPI and NDAQ are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
Sharpe Ratio (1Y)0.890.77
Sortino Ratio (1Y)1.471.09

Profitability

ROE (TTM)

Kaspi.kz (KSPI) at 44.78% sits in the top ROE quartile, while Nasdaq (NDAQ) at 17.33% is closer to the peer norm — stronger capital efficiency for KSPI.

KSPI

Financial Services industry group

44.78%

KSPI
44.78%
Max
44.78%
Q3
21.85%
Median
12.91%
Q1
4.48%
Min
-18.71%

NDAQ

Financial Services industry group

17.33%

Max
44.78%
Q3
21.85%
NDAQ
17.33%
Median
12.91%
Q1
4.48%
Min
-18.71%
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Nasdaq (NDAQ) at 36.06% retains a top-quartile share of revenue as profit, ahead of Kaspi.kz (KSPI) at 24.15%, which keeps about the industry-typical share.

KSPI

Financial Services industry group

24.15%

Max
62.84%
Q3
28.05%
KSPI
24.15%
Median
15.36%
Q1
4.82%
Min
-28.52%

NDAQ

Financial Services industry group

36.06%

Max
62.84%
NDAQ
36.06%
Q3
28.05%
Median
15.36%
Q1
4.82%
Min
-28.52%
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Nasdaq (NDAQ) at 50.57% runs core operations around its industry’s norm, while Kaspi.kz (KSPI) at 0.00% operates in the bottom quartile.

KSPI

Financial Services industry group

0.00%

Max
107.33%
Q3
55.90%
Median
30.09%
Q1
14.60%
KSPI
0.00%
Min
-44.34%

NDAQ

Financial Services industry group

50.57%

Max
107.33%
Q3
55.90%
NDAQ
50.57%
Median
30.09%
Q1
14.60%
Min
-44.34%
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
ROE (TTM)44.78%17.33%
ROA (TTM)13.54%6.10%
Net Margin (TTM)24.15%36.06%
Operating Margin (TTM)0.00%50.57%
Gross Margin (TTM)----

Growth

Revenue Growth

Kaspi.kz (KSPI) at 59.78% sits in the top revenue growth quartile, while Nasdaq (NDAQ) at 11.65% is closer to the peer norm — faster top-line expansion for KSPI.

Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their Revenue Growth across different time periods.

EPS Growth

Nasdaq (NDAQ) at 60.10% 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 NDAQ.

Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
Revenue Growth (YoY)59.78%11.65%
Revenue Growth (3Y CAGR)47.54%9.89%
EPS Growth (YoY)2.96%60.10%
EPS Growth (3Y CAGR)22.85%10.99%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Kaspi.kz (KSPI) in Financial Services and Nasdaq (NDAQ) 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 / Equity (MRQ)

debt-to-equity ratio is set aside for both: Kaspi.kz (KSPI) in Financial Services and Nasdaq (NDAQ) 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

Financial strength metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
Current Ratio (MRQ)----
Debt / Equity (MRQ)----
Net Debt / EBITDA----

Dividends

Dividend Yield (TTM)

Kaspi.kz (KSPI) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile Nasdaq (NDAQ) reports a yield of 1.09%, ranking against industry peers normally.

KSPI

Financial Services industry group

0.00%

Max
9.77%
Q3
3.92%
Median
1.09%
KSPI
0.00%
Q1
0.00%
Min
0.00%

NDAQ

Financial Services industry group

1.09%

Max
9.77%
Q3
3.92%
Median
1.09%
NDAQ
1.09%
Q1
0.00%
Min
0.00%
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their dividend yield against the Financial Services industry group benchmark.

Dividend Payout Ratio (TTM)

Both Kaspi.kz (KSPI) at 33.12% and Nasdaq (NDAQ) at 31.69% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

KSPI

Financial Services industry group

33.12%

Max
241.07%
Q3
97.36%
KSPI
33.12%
Median
25.77%
Q1
0.00%
Min
0.00%

NDAQ

Financial Services industry group

31.69%

Max
241.07%
Q3
97.36%
NDAQ
31.69%
Median
25.77%
Q1
0.00%
Min
0.00%
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
Dividend Yield (TTM)0.00%1.09%
Dividend Payout Ratio (TTM)33.12%31.69%

Valuation

P/E Ratio (TTM)

Kaspi.kz (KSPI) at 8.40 sits in the cheaper P/E ratio quartile, while Nasdaq (NDAQ) at 29.27 sits in the richer quartile — a clear split in what investors pay for each dollar of trailing earnings.

KSPI

Financial Services industry group

8.40

Max
45.85
Q3
24.64
Median
15.37
Q1
9.68
KSPI
8.40
Min
0.16

NDAQ

Financial Services industry group

29.27

Max
45.85
NDAQ
29.27
Q3
24.64
Median
15.37
Q1
9.68
Min
0.16
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their P/E ratio against the Financial Services industry group benchmark.

P/S Ratio (TTM)

A sales-based read is only available for Nasdaq (NDAQ), whose P/S ratio of 10.36 ranks against industry peers; Kaspi.kz (KSPI) reports no figure this period.

KSPI

Financial Services industry group

--

Max
9.23
Q3
4.57
Median
2.72
Q1
1.28
Min
-0.55
KSPI
--

NDAQ

Financial Services industry group

10.36

NDAQ
10.36
Max
9.23
Q3
4.57
Median
2.72
Q1
1.28
Min
-0.55
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): KSPI does not report P/S ratio, so it has no value marker; NDAQ is benchmarked against the Financial Services industry group.

P/B Ratio (MRQ)

Kaspi.kz (KSPI) at 0.01 looks cheap against book in the lower P/B ratio quartile, while Nasdaq (NDAQ) at 4.99 carries a premium in the upper quartile — a clear price-to-book gap.

KSPI

Financial Services industry group

0.01

Max
7.79
Q3
3.63
Median
1.57
Q1
0.81
KSPI
0.01
Min
-0.39

NDAQ

Financial Services industry group

4.99

Max
7.79
NDAQ
4.99
Q3
3.63
Median
1.57
Q1
0.81
Min
-0.39
Loading chart…
Kaspi.kz (KSPI) vs. Nasdaq (NDAQ): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Kaspi.kz (KSPI) and Nasdaq (NDAQ)
MetricKSPINDAQ
P/E Ratio (TTM)8.4029.27
P/S Ratio (TTM)--10.36
P/B Ratio (MRQ)0.014.99
Free Cash Flow Yield (TTM)----