Comprehensive Stock Comparison
Compare Joint Stock Company Kaspi.kz (KSPI) vs Oracle Corporation (ORCL) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | KSPI | 33.4% revenue growth vs ORCL's 8.4% |
| Value | KSPI | Lower P/E (0.0x vs 19.7x), PEG 0.00 vs 2.78 |
| Quality / Margins | KSPI | 30.3% net margin vs ORCL's 25.3% |
| Stability / Safety | KSPI | Beta 0.97 vs ORCL's 1.40, lower leverage |
| Dividends | KSPI | 9.6% yield, 2-year raise streak, vs ORCL's 1.1% |
| Momentum (1Y) | ORCL | -11.2% vs KSPI's -32.6% |
| Efficiency (ROA) | KSPI | 10.6% ROA vs ORCL's 7.5%, ROIC 113.5% vs 12.8% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Kaspi.kz is a Kazakh fintech super-app that combines payments, e-commerce, and financial services in a single mobile platform. It generates revenue primarily from transaction fees on its payments platform (~60%), marketplace commissions (~25%), and interest income from its fintech lending products (~15%). Its key advantage is network effects from its dominant payments ecosystem—which drives user engagement across its marketplace and financial services—creating a powerful digital ecosystem moat in Kazakhstan.
Oracle is a global enterprise software and cloud computing company that provides database management systems, enterprise applications, and cloud infrastructure services. It generates revenue primarily through cloud services and license support (~70% of total revenue) and cloud license and on-premise license sales (~20%), with hardware and services making up the remainder. The company's key moat is its entrenched position in enterprise database software—particularly with its flagship Oracle Database—which creates significant switching costs and lock-in for large corporate customers.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
KSPI leads in 4 of 6 categories (Financial Metrics, Valuation Metrics). ORCL leads in 1 (Total Returns). 1 tied.
Financial Metrics (TTM)
KSPI is the larger business by revenue, generating $3.63T annually — 59.4x ORCL's $61.0B. KSPI is the more profitable business, keeping 30.3% of every revenue dollar as net income compared to ORCL's 25.3%. On growth, KSPI holds the edge at +70.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | KSPIJoint Stock Compa… | ORCLOracle Corporation |
|---|---|---|
| RevenueTrailing 12 months | $3.63T | $61.0B |
| EBITDAEarnings before interest/tax | $1.89T | $22.6B |
| Net IncomeAfter-tax profit | $1.10T | $15.4B |
| Free Cash FlowCash after capex | $502.0B | -$13.2B |
| Gross MarginGross profit ÷ Revenue | +64.3% | +70.7% |
| Operating MarginEBIT ÷ Revenue | +51.3% | +30.3% |
| Net MarginNet income ÷ Revenue | +30.3% | +25.3% |
| FCF MarginFCF ÷ Revenue | +13.8% | -21.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +70.1% | +14.2% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.4% | +90.9% |
Valuation Metrics
At 6.5x trailing earnings, KSPI trades at a 81% valuation discount to ORCL's 33.5x P/E. Adjusting for growth (PEG ratio), KSPI offers better value at 0.16x vs ORCL's 4.72x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | KSPIJoint Stock Compa… | ORCLOracle Corporation |
|---|---|---|
| Market CapShares × price | $13.5B | $408.1B |
| Enterprise ValueMkt cap + debt − cash | $12.7B | $501.5B |
| Trailing P/EPrice ÷ TTM EPS | 6.46x | 33.50x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.01x | 19.71x |
| PEG RatioP/E ÷ EPS growth rate | 0.16x | 4.72x |
| EV / EBITDAEnterprise value multiple | 4.96x | 21.02x |
| Price / SalesMarket cap ÷ Revenue | 2.66x | 7.11x |
| Price / BookPrice ÷ Book value/share | 4.27x | 19.87x |
| Price / FCFMarket cap ÷ FCF | 13.78x | — |
Profitability & Efficiency
ORCL delivers a 50.6% return on equity — every $100 of shareholder capital generates $51 in annual profit, vs $47 for KSPI. KSPI carries lower financial leverage with a 0.14x debt-to-equity ratio, signaling a more conservative balance sheet compared to ORCL's 4.96x. On the Piotroski fundamental quality scale (0–9), ORCL scores 6/9 vs KSPI's 5/9, reflecting solid financial health.
| Metric | KSPIJoint Stock Compa… | ORCLOracle Corporation |
|---|---|---|
| ROE (TTM)Return on equity | +46.9% | +50.6% |
| ROA (TTM)Return on assets | +10.6% | +7.5% |
| ROICReturn on invested capital | +113.5% | +12.8% |
| ROCEReturn on capital employed | +92.5% | +14.4% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 0.14x | 4.96x |
| Net DebtTotal debt minus cash | -$398.0B | $93.3B |
| Cash & Equiv.Liquid assets | $619.5B | $10.8B |
| Total DebtShort + long-term debt | $221.5B | $104.1B |
| Interest CoverageEBIT ÷ Interest expense | 7.20x | 3.24x |
Total Returns (with DRIP)
A $10,000 investment in ORCL five years ago would be worth $23,146 today (with dividends reinvested), compared to $9,455 for KSPI. Over the past 12 months, ORCL leads with a -11.2% total return vs KSPI's -32.6%. The 3-year compound annual growth rate (CAGR) favors ORCL at 19.9% vs KSPI's -4.2% — a key indicator of consistent wealth creation.
| Metric | KSPIJoint Stock Compa… | ORCLOracle Corporation |
|---|---|---|
| YTD ReturnYear-to-date | -9.0% | -25.5% |
| 1-Year ReturnPast 12 months | -32.6% | -11.2% |
| 3-Year ReturnCumulative with dividends | -12.1% | +72.3% |
| 5-Year ReturnCumulative with dividends | -5.5% | +131.5% |
| 10-Year ReturnCumulative with dividends | -3.2% | +327.4% |
| CAGR (3Y)Annualised 3-year return | -4.2% | +19.9% |
Risk & Volatility
KSPI is the less volatile stock with a 0.97 beta — it tends to amplify market swings less than ORCL's 1.40 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. KSPI currently trades 66.7% from its 52-week high vs ORCL's 42.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | KSPIJoint Stock Compa… | ORCLOracle Corporation |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.97x | 1.40x |
| 52-Week HighHighest price in past year | $105.85 | $345.72 |
| 52-Week LowLowest price in past year | $70.05 | $118.86 |
| % of 52W HighCurrent price vs 52-week peak | +66.7% | +42.1% |
| RSI (14)Momentum oscillator 0–100 | 37.2 | 41.2 |
| Avg Volume (50D)Average daily shares traded | 362K | 20.9M |
Analyst Outlook
Wall Street rates KSPI as "Buy" and ORCL as "Buy". Consensus price targets imply 103.5% upside for ORCL (target: $296) vs 37.4% for KSPI (target: $97). For income investors, KSPI offers the higher dividend yield at 9.61% vs ORCL's 1.14%.
| Metric | KSPIJoint Stock Compa… | ORCLOracle Corporation |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $97.00 | $295.85 |
| # AnalystsCovering analysts | 2 | 86 |
| Dividend YieldAnnual dividend ÷ price | +9.6% | +1.1% |
| Dividend StreakConsecutive years of raises | 2 | 18 |
| Dividend / ShareAnnual DPS | $3374.49 | $1.65 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | +0.4% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Jan 24 | Feb 26 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | 100 | 79.5 | -20.5% |
| Oracle Corporation (ORCL) | 100 | 138.54 | +38.5% |
Oracle Corporation (ORCL) returned +131% over 5 years vs Joint Stock Company… (KSPI)'s -5%. A $10,000 investment in ORCL 5 years ago would be worth $23,146 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | $524.6B | $2.5T | +380.6% |
| Oracle Corporation (ORCL) | $37.0B | $57.4B | +54.9% |
Oracle Corporation's revenue grew from $37.0B (2016) to $57.4B (2025) — a 5.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | 36.9% | 41.2% | +11.6% |
| Oracle Corporation (ORCL) | 24.0% | 21.7% | -9.8% |
Oracle Corporation's net margin went from 24% (2016) to 22% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| Oracle Corporation (ORCL) | 21.4 | 44.9 | +109.8% |
Oracle Corporation has traded in a 18x–53x P/E range over 9 years; current trailing P/E is ~34x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | 1,000.38 | 5,430.77 | +442.9% |
| Oracle Corporation (ORCL) | 2.07 | 4.34 | +109.7% |
Oracle Corporation's EPS grew from $2.07 (2016) to $4.34 (2025) — a 9% CAGR.
Chart 6Free Cash Flow — 5 Years
Joint Stock Company Kaspi.kz generated $486B FCF in 2024 (+970% vs 2021). Oracle Corporation generated $-394M FCF in 2025 (-103% vs 2021).
KSPI vs ORCL: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is KSPI or ORCL a better buy right now?
Joint Stock Company Kaspi.kz (KSPI) offers the better valuation at 6.5x trailing P/E (0.0x forward), making it the more compelling value choice. Analysts rate Joint Stock Company Kaspi.kz (KSPI) a "Buy" — based on 2 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — KSPI or ORCL?
On trailing P/E, Joint Stock Company Kaspi.kz (KSPI) is the cheapest at 6.5x versus Oracle Corporation at 33.5x. On forward P/E, Joint Stock Company Kaspi.kz is actually cheaper at 0.0x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: Joint Stock Company Kaspi.kz wins at 0.00x versus Oracle Corporation's 2.78x — a PEG below 1.0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — KSPI or ORCL?
Over the past 5 years, Oracle Corporation (ORCL) delivered a total return of +131.5%, compared to -5.5% for Joint Stock Company Kaspi.kz (KSPI). A $10,000 investment in ORCL five years ago would be worth approximately $23K today (assuming dividends reinvested). Over 10 years, the gap is even starker: ORCL returned +327.4% versus KSPI's -3.2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — KSPI or ORCL?
By beta (market sensitivity over 5 years), Joint Stock Company Kaspi.kz (KSPI) is the lower-risk stock at 0.97β versus Oracle Corporation's 1.40β — meaning ORCL is approximately 45% more volatile than KSPI relative to the S&P 500. On balance sheet safety, Joint Stock Company Kaspi.kz (KSPI) carries a lower debt/equity ratio of 14% versus 5% for Oracle Corporation — giving it more financial flexibility in a downturn.
05Which has better profit margins — KSPI or ORCL?
Joint Stock Company Kaspi.kz (KSPI) is the more profitable company, earning 41.2% net margin versus 21.7% for Oracle Corporation — meaning it keeps 41.2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: KSPI leads at 50.4% versus 30.8% for ORCL. At the gross margin level — before operating expenses — ORCL leads at 70.5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is KSPI or ORCL more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, Joint Stock Company Kaspi.kz (KSPI) is the more undervalued stock at a PEG of 0.00x versus Oracle Corporation's 2.78x. A PEG below 1.0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, Joint Stock Company Kaspi.kz (KSPI) trades at 0.0x forward P/E versus 19.7x for Oracle Corporation — 19.7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ORCL: 103.5% to $295.85.
07Which pays a better dividend — KSPI or ORCL?
All stocks in this comparison pay dividends. Joint Stock Company Kaspi.kz (KSPI) offers the highest yield at 9.6%, versus 1.1% for Oracle Corporation (ORCL).
08Is KSPI or ORCL better for a retirement portfolio?
For long-horizon retirement investors, Joint Stock Company Kaspi.kz (KSPI) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.97), 9.6% yield). Both have compounded well over 10 years (KSPI: -3.2%, ORCL: +327.4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between KSPI and ORCL?
Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. In terms of investment character: KSPI is a mid-cap deep-value stock; ORCL is a large-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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