Joint Stock Co Kaspi.kz (KSPI) Operating Margin (2023 - 2026)
Joint Stock Co Kaspi.kz's Operating Margin was 141.24% in the quarter ended Mar 31, 2026, up 3.10 percentage points from 138.14% a year earlier and up 3.30 percentage points from the prior quarter.
Joint Stock Co Kaspi.kz (KSPI) Operating Margin (2023 - 2026) Analysis & Trends
On a trailing twelve-month basis, Joint Stock Co Kaspi.kz's Operating Margin was 138.47% through Mar 31, 2026, up 1.39 percentage points year-over-year; for the year ended Dec 31, 2025, it was 137.94%, up 0.58 percentage points from the prior year.
- Operating Margin shows a four-year change of +4.12 percentage points (years ended Dec 2021 to Dec 2025).
- In earlier years, Operating Margin was 137.36% in the year ended Dec 31, 2024 (-0.54 pp), 137.90% in the year ended Dec 31, 2023 (+1.12 pp), 136.78% in the year ended Dec 31, 2022 (+2.96 pp) and 133.81% in the year ended Dec 31, 2021.
- The figure for the quarter ended Mar 31, 2026 marks the highest quarterly Operating Margin in data going back to the quarter ended Mar 31, 2023.
- Compared with a year earlier, Operating Margin has increased for three straight quarters, with an average year-over-year change of +0.32 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was the quarter ended Mar 31, 2026 (a gain of 3.10 percentage points); the worst was the quarter ended Dec 31, 2024 (a drop of 2.11 percentage points).
- Per Business Quant data, KSPI's Operating Margin in the three quarters before the quarter ended Mar 31, 2026 was 137.94% (quarter ended Dec 31, 2025), 137.94% (quarter ended Sep 30, 2025) and 138.02% (quarter ended Jun 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 895.36 Bn | 924.83 Bn | - | - |
| 2 | Banco Santander Chile | 425.01 Bn | 544.95 Bn | - | - |
| 3 | Bank Of America | 389.22 Bn | -1,986.85 Bn | - | - |
| 4 | Hsbc Holdings | 347.56 Bn | 347.61 Bn | - | - |
| 5 | Morgan Stanley | 304.44 Bn | -204.66 Bn | - | - |
| 6 | Royal Bank Of Canada | 281.54 Bn | 132.29 Bn | - | - |
| 7 | Mitsubishi Ufj Financial | 277.23 Bn | -1,311.26 Bn | 10.89 Bn | - |
| 8 | Goldman Sachs | 267.12 Bn | -3,289.99 Bn | - | - |
| 9 | Wells Fargo & Company | 244.76 Bn | 246.90 Bn | - | - |
| 10 | Joint Stock Co Kaspi.kz | 18.23 Bn | -3,265.54 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 141.24% |
| Dec 31, 2025 | 137.94% |
| Sep 30, 2025 | 137.94% |
| Jun 30, 2025 | 138.02% |
| Mar 31, 2025 | 138.14% |
| Dec 31, 2024 | 134.92% |
| Sep 30, 2024 | 136.94% |
| Jun 30, 2024 | 138.44% |
| Mar 31, 2024 | 139.91% |
| Dec 31, 2023 | 137.03% |
| Sep 30, 2023 | 137.00% |
| Jun 30, 2023 | 138.60% |
| Mar 31, 2023 | 139.51% |
Joint Stock Co Kaspi.kz Operating 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=operating-margin&ticker=KSPI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=KSPI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();