Comprehensive Stock Comparison
Compare Joint Stock Company Kaspi.kz (KSPI) vs Palantir Technologies Inc. (PLTR) 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 | PLTR | 56.2% revenue growth vs KSPI's 33.4% |
| Value | KSPI | Lower P/E (0.0x vs 106.7x) |
| Quality / Margins | PLTR | 36.3% net margin vs KSPI's 30.3% |
| Stability / Safety | KSPI | Beta 0.97 vs PLTR's 1.97 |
| Dividends | KSPI | 9.6% yield; 2-year raise streak; PLTR pays no meaningful dividend |
| Momentum (1Y) | PLTR | +61.6% vs KSPI's -32.6% |
| Efficiency (ROA) | PLTR | 18.3% ROA vs KSPI's 10.6%, ROIC 22.3% vs 113.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
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.
Palantir Technologies builds and operates advanced data analytics platforms that help government agencies and large enterprises integrate, analyze, and act on complex data. It generates revenue primarily through government contracts—particularly with defense and intelligence agencies—and commercial enterprise software subscriptions, with government work historically representing the majority of its business. The company's key advantage lies in its deep expertise in handling sensitive, classified data and its proprietary software platforms that have been battle-tested in national security applications for nearly two decades.
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
PLTR leads in 2 of 6 categories (Financial Metrics, Total Returns). KSPI leads in 2 (Valuation Metrics, Risk & Volatility). 1 tied.
Financial Metrics (TTM)
KSPI is the larger business by revenue, generating $3.63T annually — 810.2x PLTR's $4.5B. PLTR is the more profitable business, keeping 36.3% of every revenue dollar as net income compared to KSPI's 30.3%.
| Metric | KSPIJoint Stock Compa… | PLTRPalantir Technolo… |
|---|---|---|
| RevenueTrailing 12 months | $3.63T | $4.5B |
| EBITDAEarnings before interest/tax | $1.89T | $1.4B |
| Net IncomeAfter-tax profit | $1.10T | $1.6B |
| Free Cash FlowCash after capex | $502.0B | $2.1B |
| Gross MarginGross profit ÷ Revenue | +64.3% | +82.4% |
| Operating MarginEBIT ÷ Revenue | +51.3% | +31.6% |
| Net MarginNet income ÷ Revenue | +30.3% | +36.3% |
| FCF MarginFCF ÷ Revenue | +13.8% | +47.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | +70.1% | +70.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.4% | +6.7% |
Valuation Metrics
At 6.5x trailing earnings, KSPI trades at a 97% valuation discount to PLTR's 217.8x P/E. On an enterprise value basis, KSPI's 5.0x EV/EBITDA is more attractive than PLTR's 216.8x.
| Metric | KSPIJoint Stock Compa… | PLTRPalantir Technolo… |
|---|---|---|
| Market CapShares × price | $13.5B | $313.4B |
| Enterprise ValueMkt cap + debt − cash | $12.7B | $312.2B |
| Trailing P/EPrice ÷ TTM EPS | 6.46x | 217.76x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.01x | 106.66x |
| PEG RatioP/E ÷ EPS growth rate | 0.16x | — |
| EV / EBITDAEnterprise value multiple | 4.96x | 216.78x |
| Price / SalesMarket cap ÷ Revenue | 2.66x | 70.02x |
| Price / BookPrice ÷ Book value/share | 4.27x | 47.00x |
| Price / FCFMarket cap ÷ FCF | 13.78x | 149.19x |
Profitability & Efficiency
KSPI delivers a 46.9% return on equity — every $100 of shareholder capital generates $47 in annual profit, vs $22 for PLTR. PLTR carries lower financial leverage with a 0.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to KSPI's 0.14x. On the Piotroski fundamental quality scale (0–9), PLTR scores 8/9 vs KSPI's 5/9, reflecting strong financial health.
| Metric | KSPIJoint Stock Compa… | PLTRPalantir Technolo… |
|---|---|---|
| ROE (TTM)Return on equity | +46.9% | +21.7% |
| ROA (TTM)Return on assets | +10.6% | +18.3% |
| ROICReturn on invested capital | +113.5% | +22.3% |
| ROCEReturn on capital employed | +92.5% | +21.6% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 8 |
| Debt / EquityFinancial leverage | 0.14x | 0.03x |
| Net DebtTotal debt minus cash | -$398.0B | -$1.2B |
| Cash & Equiv.Liquid assets | $619.5B | $1.4B |
| Total DebtShort + long-term debt | $221.5B | $229M |
| Interest CoverageEBIT ÷ Interest expense | 7.20x | — |
Total Returns (with DRIP)
A $10,000 investment in PLTR five years ago would be worth $55,296 today (with dividends reinvested), compared to $9,455 for KSPI. Over the past 12 months, PLTR leads with a +61.6% total return vs KSPI's -32.6%. The 3-year compound annual growth rate (CAGR) favors PLTR at 159.6% vs KSPI's -4.2% — a key indicator of consistent wealth creation.
| Metric | KSPIJoint Stock Compa… | PLTRPalantir Technolo… |
|---|---|---|
| YTD ReturnYear-to-date | -9.0% | -18.3% |
| 1-Year ReturnPast 12 months | -32.6% | +61.6% |
| 3-Year ReturnCumulative with dividends | -12.1% | +1649.9% |
| 5-Year ReturnCumulative with dividends | -5.5% | +453.0% |
| 10-Year ReturnCumulative with dividends | -3.2% | +1344.1% |
| CAGR (3Y)Annualised 3-year return | -4.2% | +159.6% |
Risk & Volatility
KSPI is the less volatile stock with a 0.97 beta — it tends to amplify market swings less than PLTR's 1.97 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | KSPIJoint Stock Compa… | PLTRPalantir Technolo… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.97x | 1.97x |
| 52-Week HighHighest price in past year | $105.85 | $207.52 |
| 52-Week LowLowest price in past year | $70.05 | $66.12 |
| % of 52W HighCurrent price vs 52-week peak | +66.7% | +66.1% |
| RSI (14)Momentum oscillator 0–100 | 37.2 | 42.3 |
| Avg Volume (50D)Average daily shares traded | 362K | 39.1M |
Analyst Outlook
Wall Street rates KSPI as "Buy" and PLTR as "Hold". Consensus price targets imply 44.8% upside for PLTR (target: $199) vs 37.4% for KSPI (target: $97). KSPI is the only dividend payer here at 9.61% yield — a key consideration for income-focused portfolios.
| Metric | KSPIJoint Stock Compa… | PLTRPalantir Technolo… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $97.00 | $198.71 |
| # AnalystsCovering analysts | 2 | 24 |
| Dividend YieldAnnual dividend ÷ price | +9.6% | — |
| Dividend StreakConsecutive years of raises | 2 | — |
| Dividend / ShareAnnual DPS | $3374.49 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | +0.0% |
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% |
| Palantir Technologi… (PLTR) | 100 | 904.84 | +804.8% |
Palantir Technologi… (PLTR) returned +453% over 5 years vs Joint Stock Company… (KSPI)'s -5%. A $10,000 investment in PLTR 5 years ago would be worth $55,296 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | $524.6B | $2.5T | +380.6% |
| Palantir Technologi… (PLTR) | $595M | $4.5B | +651.7% |
Palantir Technologies Inc.'s revenue grew from $595M (2018) to $4.5B (2025) — a 33.4% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | 36.9% | 41.2% | +11.6% |
| Palantir Technologi… (PLTR) | -97.4% | 36.3% | +137.3% |
Palantir Technologies Inc.'s net margin went from -97% (2018) to 36% (2025).
Chart 4P/E Ratio History — 3 Years
| Stock | 2023 | 2025 | Change |
|---|---|---|---|
| Palantir Technologi… (PLTR) | 188.1 | 282.1 | +50.0% |
Palantir Technologies Inc. has traded in a 188x–398x P/E range over 3 years; current trailing P/E is ~218x.
Chart 5EPS Growth — 10 Years
| Stock | 2018 | 2025 | Change |
|---|---|---|---|
| Joint Stock Company… (KSPI) | 1,000.38 | 5,430.77 | +442.9% |
| Palantir Technologi… (PLTR) | -0.89 | 0.63 | +170.8% |
Palantir Technologies Inc.'s EPS grew from $-0.89 (2018) to $0.63 (2025).
Chart 6Free Cash Flow — 5 Years
Joint Stock Company Kaspi.kz generated $486B FCF in 2024 (+970% vs 2021). Palantir Technologies Inc. generated $2B FCF in 2025 (+554% vs 2021).
KSPI vs PLTR: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is KSPI or PLTR 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 PLTR?
On trailing P/E, Joint Stock Company Kaspi.kz (KSPI) is the cheapest at 6.5x versus Palantir Technologies Inc. at 217.8x. On forward P/E, Joint Stock Company Kaspi.kz is actually cheaper at 0.0x.
03Which is the better long-term investment — KSPI or PLTR?
Over the past 5 years, Palantir Technologies Inc. (PLTR) delivered a total return of +453.0%, compared to -5.5% for Joint Stock Company Kaspi.kz (KSPI). A $10,000 investment in PLTR five years ago would be worth approximately $55K today (assuming dividends reinvested). Over 10 years, the gap is even starker: PLTR returned +1344% 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 PLTR?
By beta (market sensitivity over 5 years), Joint Stock Company Kaspi.kz (KSPI) is the lower-risk stock at 0.97β versus Palantir Technologies Inc.'s 1.97β — meaning PLTR is approximately 104% more volatile than KSPI relative to the S&P 500. On balance sheet safety, Palantir Technologies Inc. (PLTR) carries a lower debt/equity ratio of 3% versus 14% for Joint Stock Company Kaspi.kz — giving it more financial flexibility in a downturn.
05Which has better profit margins — KSPI or PLTR?
Joint Stock Company Kaspi.kz (KSPI) is the more profitable company, earning 41.2% net margin versus 36.3% for Palantir Technologies Inc. — 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 31.6% for PLTR. At the gross margin level — before operating expenses — PLTR leads at 82.4%, 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 PLTR more undervalued right now?
On forward earnings alone, Joint Stock Company Kaspi.kz (KSPI) trades at 0.0x forward P/E versus 106.7x for Palantir Technologies Inc. — 106.7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PLTR: 44.8% to $198.71.
07Which pays a better dividend — KSPI or PLTR?
In this comparison, KSPI (9.6% yield) pays a dividend. PLTR does not pay a meaningful dividend and should not be held primarily for income.
08Is KSPI or PLTR 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). Palantir Technologies Inc. (PLTR) carries a higher beta of 1.97 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (KSPI: -3.2%, PLTR: +1344%), 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 PLTR?
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; PLTR is a large-cap quality compounder stock. KSPI pays a dividend while PLTR does not, making them suitable for different income and tax situations. 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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