Joint Stock Co Kaspi.kz (KSPI) Net Margin (2023 - 2026)
Joint Stock Co Kaspi.kz (KSPI) posted Net Margin of 23.08% for the quarter ended Mar 31, 2026, down 7.59 percentage points from 30.67% a year earlier and down 1.72 percentage points from the prior quarter.
Joint Stock Co Kaspi.kz (KSPI) Net Margin (2023 - 2026) Analysis & Trends
For the trailing twelve months through Mar 31, 2026, Net Margin at Joint Stock Co Kaspi.kz was 26.49%, down 11.79 percentage points year-over-year; for the year ended Dec 31, 2025, it came in at 26.52%, down 14.54 percentage points from the prior year.
- Annual Net Margin has declined for four consecutive years, with a four-year change of -22.29 percentage points (years ended Dec 2021 to Dec 2025).
- In prior years, Joint Stock Co Kaspi.kz's Net Margin was 41.06% in the year ended Dec 31, 2024 (-2.91 pp), 43.97% in the year ended Dec 31, 2023 (-2.07 pp), 46.04% in the year ended Dec 31, 2022 (-2.77 pp) and 48.81% in the year ended Dec 31, 2021.
- The figure for the quarter ended Mar 31, 2026 stands as the lowest quarterly Net Margin in data going back to the quarter ended Mar 31, 2023.
- On a year-over-year basis, Net Margin has declined in each of the last nine quarters, with an average year-over-year change of -8.54 percentage points over the last eight quarters.
- The year-over-year drop in Net Margin has ranged between 0.09 percentage points (the quarter ended Dec 31, 2024) and 17.90 percentage points (the quarter ended Dec 31, 2025) over the last five years.
- According to Business Quant data, Net Margin for the three prior quarters was 24.80% (quarter ended Dec 31, 2025), 27.20% (quarter ended Sep 30, 2025) and 28.47% (quarter ended Jun 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 895.36 Bn | 924.83 Bn | - | 36.19% |
| 2 | Banco Santander Chile | 425.01 Bn | 544.95 Bn | - | - |
| 3 | Bank Of America | 389.22 Bn | -1,986.85 Bn | - | 27.72% |
| 4 | Hsbc Holdings | 347.56 Bn | 347.61 Bn | - | - |
| 5 | Morgan Stanley | 304.44 Bn | -204.66 Bn | - | 25.46% |
| 6 | Royal Bank Of Canada | 281.54 Bn | 132.29 Bn | - | 32.50% |
| 7 | Mitsubishi Ufj Financial | 277.23 Bn | -1,311.26 Bn | 10.89 Bn | - |
| 8 | Goldman Sachs | 267.12 Bn | -3,289.99 Bn | - | 31.46% |
| 9 | Wells Fargo & Company | 244.76 Bn | 246.90 Bn | - | 27.23% |
| 10 | Joint Stock Co Kaspi.kz | 18.23 Bn | -3,265.54 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 23.08% |
| Dec 31, 2025 | 24.80% |
| Sep 30, 2025 | 27.20% |
| Jun 30, 2025 | 28.47% |
| Mar 31, 2025 | 30.67% |
| Dec 31, 2024 | 42.70% |
| Sep 30, 2024 | 41.51% |
| Jun 30, 2024 | 39.81% |
| Mar 31, 2024 | 39.72% |
| Dec 31, 2023 | 42.80% |
| Sep 30, 2023 | 45.46% |
| Jun 30, 2023 | 43.90% |
| Mar 31, 2023 | 43.82% |
Joint Stock Co Kaspi.kz Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=KSPI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "KSPI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=KSPI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();