KSPI
Joint Stock Company Kaspi.kz
Software - Infrastructure
Market Cap$16.66B
5Y Perf.-4.5%
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Stock Comparison
KSPI vs SE
Revenue, margins, valuation, and 5-year total return — side by side.
SE
Sea Limited
Specialty Retail
Market Cap$54.44B
5Y Perf.+136.0%
KSPI vs SE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | KSPI | SE |
|---|---|---|
| Industry | Software - Infrastructure | Specialty Retail |
| Market Cap | $16.66B | $54.44B |
| Revenue (TTM) | $3.63T | $21.04B |
| Net Income (TTM) | $1.10T | $1.43B |
| Gross Margin | 64.3% | 44.9% |
| Operating Margin | 51.3% | 8.2% |
| Forward P/E | 0.0x | 25.4x |
| Total Debt | $221.46B | $4.12B |
| Cash & Equiv. | $619.47B | $2.41B |
KSPI vs SE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
KSPI
SE
| Stock | Jan 24 | May 26 | Return |
|---|---|---|---|
| Joint Stock Company… (KSPI) | 100 | 95.5 | -4.5% |
| Sea Limited (SE) | 100 | 236.0 | +136.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: KSPI vs SE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: KSPI leads in 7 of 7 categories, making it the strongest pick for growth and revenue expansion and valuation and capital efficiency. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
KSPI
Joint Stock Company Kaspi.kz
The Income Pick
KSPI carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 2 yrs, beta 1.02, yield 8.3%
- Rev growth 33.4%, EPS growth 24.0%, 3Y rev CAGR 41.7%
- Lower volatility, beta 1.02, Low D/E 14.1%, current ratio 0.84x
Best for: income & stability and growth exposure
SE
Sea Limited
The Long-Run Compounder
SE is the clearest fit if your priority is long-term compounding.
- 463.8% 10Y total return vs KSPI's 16.0%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | KSPI | 33.4% revenue growth vs SE's 28.8% |
| Value | KSPI | Lower P/E (0.0x vs 25.4x) |
| Quality / Margins | KSPI | 30.3% margin vs SE's 6.8% |
| Stability / Safety | KSPI | Beta 1.02 vs SE's 1.45, lower leverage |
| Dividends | KSPI | 8.3% yield; 2-year raise streak; the other pay no meaningful dividend |
| Momentum (1Y) | KSPI | -0.1% vs SE's -36.8% |
| Efficiency (ROA) | KSPI | 11.6% ROA vs SE's 5.8%, ROIC 113.5% vs 5.4% |
KSPI vs SE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Segment breakdown not available.
FY 2024
KSPI vs SE — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLKSPILAGGINGSE
SESea Limited
0leads
KSPIJoint Stock Company K…
4leads
6 Total Categories
CATEGORYLEADERvs SEMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
KSPI4/6
Valuation MetricsMultiples, price ratios, and targets
KSPI6/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
KSPI6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
KSPI2/2
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
KSPI leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
KSPI is the larger business by revenue, generating $3.63T annually — 172.4x SE's $21.0B. KSPI is the more profitable business, keeping 30.3% of every revenue dollar as net income compared to SE's 6.8%. On growth, KSPI holds the edge at +70.1% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | KSPIJoint Stock Compa… | SESea Limited |
|---|---|---|
| RevenueTrailing 12 months | $3.63T | $21.0B |
| EBITDAEarnings before interest/tax | $1.89T | $2.0B |
| Net IncomeAfter-tax profit | $1.10T | $1.4B |
| Free Cash FlowCash after capex | $358.4B | $3.9B |
| Gross MarginGross profit ÷ Revenue | +64.3% | +44.9% |
| Operating MarginEBIT ÷ Revenue | +51.3% | +8.2% |
| Net MarginNet income ÷ Revenue | +30.3% | +6.8% |
| FCF MarginFCF ÷ Revenue | +9.9% | +18.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +70.1% | +38.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +3.4% | +126.9% |
KSPI leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
KSPI leads this category, winning 6 of 6 comparable metrics.
Valuation Metrics
At 7.5x trailing earnings, KSPI trades at a 94% valuation discount to SE's 123.3x P/E. On an enterprise value basis, KSPI's 5.8x EV/EBITDA is more attractive than SE's 53.4x.
| Metric | KSPIJoint Stock Compa… | SESea Limited |
|---|---|---|
| Market CapShares × price | $16.7B | $54.4B |
| Enterprise ValueMkt cap + debt − cash | $15.8B | $56.2B |
| Trailing P/EPrice ÷ TTM EPS | 7.48x | 123.32x |
| Forward P/EPrice ÷ next-FY EPS est. | 0.02x | 25.45x |
| PEG RatioP/E ÷ EPS growth rate | 0.19x | — |
| EV / EBITDAEnterprise value multiple | 5.78x | 53.39x |
| Price / SalesMarket cap ÷ Revenue | 3.07x | 3.24x |
| Price / BookPrice ÷ Book value/share | 4.94x | 6.42x |
| Price / FCFMarket cap ÷ FCF | 15.94x | 18.42x |
KSPI leads this category, winning 6 of 6 comparable metrics.
Profitability & Efficiency
KSPI leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
KSPI delivers a 56.9% return on equity — every $100 of shareholder capital generates $57 in annual profit, vs $15 for SE. KSPI carries lower financial leverage with a 0.14x debt-to-equity ratio, signaling a more conservative balance sheet compared to SE's 0.49x. On the Piotroski fundamental quality scale (0–9), SE scores 7/9 vs KSPI's 5/9, reflecting strong financial health.
| Metric | KSPIJoint Stock Compa… | SESea Limited |
|---|---|---|
| ROE (TTM)Return on equity | +56.9% | +15.2% |
| ROA (TTM)Return on assets | +11.6% | +5.8% |
| ROICReturn on invested capital | +113.5% | +5.4% |
| ROCEReturn on capital employed | +92.5% | +6.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 0.14x | 0.49x |
| Net DebtTotal debt minus cash | -$398.0B | $1.7B |
| Cash & Equiv.Liquid assets | $619.5B | $2.4B |
| Total DebtShort + long-term debt | $221.5B | $4.1B |
| Interest CoverageEBIT ÷ Interest expense | 7.20x | 49.70x |
KSPI leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — KSPI and SE each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in KSPI five years ago would be worth $11,166 today (with dividends reinvested), compared to $3,778 for SE. Over the past 12 months, KSPI leads with a -0.1% total return vs SE's -36.8%. The 3-year compound annual growth rate (CAGR) favors SE at 2.2% vs KSPI's 1.9% — a key indicator of consistent wealth creation.
| Metric | KSPIJoint Stock Compa… | SESea Limited |
|---|---|---|
| YTD ReturnYear-to-date | +14.9% | -31.5% |
| 1-Year ReturnPast 12 months | -0.1% | -36.8% |
| 3-Year ReturnCumulative with dividends | +5.8% | +6.7% |
| 5-Year ReturnCumulative with dividends | +11.7% | -62.2% |
| 10-Year ReturnCumulative with dividends | +16.0% | +463.8% |
| CAGR (3Y)Annualised 3-year return | +1.9% | +2.2% |
Evenly matched — KSPI and SE each lead in 3 of 6 comparable metrics.
Risk & Volatility
KSPI leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
KSPI is the less volatile stock with a 1.02 beta — it tends to amplify market swings less than SE's 1.45 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. KSPI currently trades 88.0% from its 52-week high vs SE's 45.2% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | KSPIJoint Stock Compa… | SESea Limited |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.02x | 1.45x |
| 52-Week HighHighest price in past year | $99.20 | $199.30 |
| 52-Week LowLowest price in past year | $68.59 | $77.05 |
| % of 52W HighCurrent price vs 52-week peak | +88.0% | +45.2% |
| RSI (14)Momentum oscillator 0–100 | 54.2 | 45.4 |
| Avg Volume (50D)Average daily shares traded | 584K | 4.8M |
KSPI leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Wall Street rates KSPI as "Buy" and SE as "Buy". Consensus price targets imply 64.0% upside for SE (target: $148) vs 8.8% for KSPI (target: $95). KSPI is the only dividend payer here at 8.31% yield — a key consideration for income-focused portfolios.
| Metric | KSPIJoint Stock Compa… | SESea Limited |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $95.00 | $147.67 |
| # AnalystsCovering analysts | 2 | 44 |
| Dividend YieldAnnual dividend ÷ price | +8.3% | — |
| Dividend StreakConsecutive years of raises | 2 | — |
| Dividend / ShareAnnual DPS | $3374.49 | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.0% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
KSPI leads in 4 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 1 category is tied.
Best OverallJoint Stock Company Kaspi.kz (KSPI)Leads 4 of 6 categories
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KSPI vs SE: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is KSPI or SE a better buy right now?
For growth investors, Joint Stock Company Kaspi.
kz (KSPI) is the stronger pick with 33. 4% revenue growth year-over-year, versus 28. 8% for Sea Limited (SE). Joint Stock Company Kaspi. kz (KSPI) offers the better valuation at 7. 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 SE?
On trailing P/E, Joint Stock Company Kaspi.
kz (KSPI) is the cheapest at 7. 5x versus Sea Limited at 123. 3x. On forward P/E, Joint Stock Company Kaspi. kz is actually cheaper at 0. 0x.
03Which is the better long-term investment — KSPI or SE?
Over the past 5 years, Joint Stock Company Kaspi.
kz (KSPI) delivered a total return of +11. 7%, compared to -62. 2% for Sea Limited (SE). Over 10 years, the gap is even starker: SE returned +463. 8% versus KSPI's +16. 0%. 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 SE?
By beta (market sensitivity over 5 years), Joint Stock Company Kaspi.
kz (KSPI) is the lower-risk stock at 1. 02β versus Sea Limited's 1. 45β — meaning SE is approximately 42% 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 49% for Sea Limited — giving it more financial flexibility in a downturn.
05Which is growing faster — KSPI or SE?
By revenue growth (latest reported year), Joint Stock Company Kaspi.
kz (KSPI) is pulling ahead at 33. 4% versus 28. 8% for Sea Limited (SE). On earnings-per-share growth, the picture is similar: Sea Limited grew EPS 192. 0% year-over-year, compared to 24. 0% for Joint Stock Company Kaspi. kz. Over a 3-year CAGR, KSPI leads at 41. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — KSPI or SE?
Joint Stock Company Kaspi.
kz (KSPI) is the more profitable company, earning 41. 2% net margin versus 2. 6% for Sea Limited — 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 3. 9% for SE. At the gross margin level — before operating expenses — KSPI leads at 62. 3%, 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.
07Is KSPI or SE more undervalued right now?
On forward earnings alone, Joint Stock Company Kaspi.
kz (KSPI) trades at 0. 0x forward P/E versus 25. 4x for Sea Limited — 25. 4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for SE: 64. 0% to $147. 67.
08Which pays a better dividend — KSPI or SE?
In this comparison, KSPI (8.
3% yield) pays a dividend. SE does not pay a meaningful dividend and should not be held primarily for income.
09Is KSPI or SE 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 1. 02), 8. 3% yield). Both have compounded well over 10 years (KSPI: +16. 0%, SE: +463. 8%), 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.
10What are the main differences between KSPI and SE?
These companies operate in different sectors (KSPI (Technology) and SE (Consumer Cyclical)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
KSPI pays a dividend while SE 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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Revenue Growth>
%
(KSPI: 70.1% · SE: 38.3%)Net Margin>
%
(KSPI: 30.3% · SE: 6.8%)P/E Ratio<
x
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