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KSPI vs. V: Kaspi.kz vs. Visa Stock Comparison

How do Kaspi.kz (KSPI) and Visa (V) 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 Visa (V) both fall under the Financial Services industry group, but KSPI is classified in Consumer Finance while V is classified in Financial Services.

Visa (V) has been public since March 19, 2008, giving it a longer listed trading history, while Kaspi.kz (KSPI) listed on January 19, 2024 and still has a shorter public-market record.

Visa (V) 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 Visa (V)
Profile ItemKSPIV
NameKaspi.kz JSC ADRVisa Inc. Class A
Country/RegionKazakhstanUnited States
GICS SectorFinancialsFinancials
GICS Industry GroupFinancial ServicesFinancial Services
GICS IndustryConsumer FinanceFinancial Services
GICS Sub-IndustryConsumer FinanceTransaction & Payment Processing Services
Market Capitalization17.42 billion USD788.58 billion USD
CurrencyUSDUSD
ExchangeNasdaqNYSE
Listing DateJanuary 19, 2024March 19, 2008
Security TypeADRCommon Stock

Price Performance

Cumulative Growth

KSPI
V
GSPC
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Kaspi.kz (KSPI) vs. Visa (V), 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

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Trailing total returns for Kaspi.kz (KSPI) and Visa (V). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Kaspi.kz (KSPI) and Visa (V). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Kaspi.kz (KSPI) and Visa (V)
MetricKSPIV
Total Return (1Y)34.75%27.50%
Total Return (3Y, Annualized)--21.55%
Total Return (5Y, Annualized)--15.65%

Risk Profile

Drawdown History

KSPI
V
GSPC
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Kaspi.kz (KSPI) vs. Visa (V), 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

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Distribution of monthly total returns for Kaspi.kz (KSPI) and Visa (V). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Kaspi.kz (KSPI) and Visa (V)
MetricKSPIV
Volatility (1Y, Annualized)34.36%22.99%
Beta (5Y)1.050.78
Max Drawdown (5Y)-48.88%-24.14%
Avg. Volume (3M)566.23K6.56M

Risk-Adjusted Performance

Risk-Return Positioning

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KSPI and V 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 Visa (V)
MetricKSPIV
Sharpe Ratio (1Y)0.891.01
Sortino Ratio (1Y)1.471.64

Profitability

ROE (TTM)

Both companies show strong equity returns, but Visa (V) at 63.51% is the standout with ROE above its industry range; Kaspi.kz (KSPI) at 44.78% also sits in the top quartile.

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%

V

Financial Services industry group

63.51%

V
63.51%
Max
44.78%
Q3
21.85%
Median
12.91%
Q1
4.48%
Min
-18.71%
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Kaspi.kz (KSPI) vs. Visa (V): A comparison of their ROE against the Financial Services industry group benchmark.

Net Margin (TTM)

Visa (V) at 51.20% 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%

V

Financial Services industry group

51.20%

Max
62.84%
V
51.20%
Q3
28.05%
Median
15.36%
Q1
4.82%
Min
-28.52%
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Kaspi.kz (KSPI) vs. Visa (V): A comparison of their net margin against the Financial Services industry group benchmark.

Operating Margin (TTM)

Visa (V) at 63.73% carries a top-quartile operating margin, 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%

V

Financial Services industry group

63.73%

Max
107.33%
V
63.73%
Q3
55.90%
Median
30.09%
Q1
14.60%
Min
-44.34%
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Kaspi.kz (KSPI) vs. Visa (V): A comparison of their operating margin against the Financial Services industry group benchmark.

Profitability Metrics

Profitability metrics for Kaspi.kz (KSPI) and Visa (V)
MetricKSPIV
ROE (TTM)44.78%63.51%
ROA (TTM)13.54%19.61%
Net Margin (TTM)24.15%51.20%
Operating Margin (TTM)0.00%63.73%
Gross Margin (TTM)----

Growth

Revenue Growth

Kaspi.kz (KSPI) at 59.78% sits in the top revenue growth quartile, while Visa (V) at 14.76% is closer to the peer norm — faster top-line expansion for KSPI.

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Kaspi.kz (KSPI) vs. Visa (V): A comparison of their Revenue Growth across different time periods.

EPS Growth

Both Kaspi.kz (KSPI) at 2.96% and Visa (V) at 20.78% land near their industries' usual EPS growth ranges, so bottom-line momentum looks broadly in line with peers on both sides.

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Kaspi.kz (KSPI) vs. Visa (V): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Kaspi.kz (KSPI) and Visa (V)
MetricKSPIV
Revenue Growth (YoY)59.78%14.76%
Revenue Growth (3Y CAGR)47.54%12.02%
EPS Growth (YoY)2.96%20.78%
EPS Growth (3Y CAGR)22.85%14.16%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: Kaspi.kz (KSPI) in Financial Services and Visa (V) 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 Visa (V) 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 Visa (V)
MetricKSPIV
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 Visa (V) reports a yield of 0.66%, 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%

V

Financial Services industry group

0.66%

Max
9.77%
Q3
3.92%
Median
1.09%
V
0.66%
Q1
0.00%
Min
0.00%
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Kaspi.kz (KSPI) vs. Visa (V): 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 Visa (V) at 21.75% 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%

V

Financial Services industry group

21.75%

Max
241.07%
Q3
97.36%
Median
25.77%
V
21.75%
Q1
0.00%
Min
0.00%
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Kaspi.kz (KSPI) vs. Visa (V): A comparison of their payout ratio against the Financial Services industry group benchmark.

Dividend Metrics

Dividend metrics for Kaspi.kz (KSPI) and Visa (V)
MetricKSPIV
Dividend Yield (TTM)0.00%0.66%
Dividend Payout Ratio (TTM)33.12%21.75%

Valuation

P/E Ratio (TTM)

Kaspi.kz (KSPI) at 8.40 sits in the cheaper P/E ratio quartile, while Visa (V) at 34.31 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

V

Financial Services industry group

34.31

Max
45.85
V
34.31
Q3
24.64
Median
15.37
Q1
9.68
Min
0.16
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Kaspi.kz (KSPI) vs. Visa (V): 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 Visa (V), whose P/S ratio of 17.18 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
--

V

Financial Services industry group

17.18

V
17.18
Max
9.23
Q3
4.57
Median
2.72
Q1
1.28
Min
-0.55
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Kaspi.kz (KSPI) vs. Visa (V): KSPI does not report P/S ratio, so it has no value marker; V is benchmarked against the Financial Services industry group.

P/B Ratio (MRQ)

Kaspi.kz (KSPI) at 0.01 sits in the lower P/B ratio quartile relative to book while Visa (V) at 22.05 prices above its industry range — a wide valuation gap against assets.

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

V

Financial Services industry group

22.05

V
22.05
Max
7.79
Q3
3.63
Median
1.57
Q1
0.81
Min
-0.39
Loading chart…
Kaspi.kz (KSPI) vs. Visa (V): A comparison of their P/B ratio against the Financial Services industry group benchmark.

Valuation Metrics

Valuation metrics for Kaspi.kz (KSPI) and Visa (V)
MetricKSPIV
P/E Ratio (TTM)8.4034.31
P/S Ratio (TTM)--17.18
P/B Ratio (MRQ)0.0122.05
Free Cash Flow Yield (TTM)----