Kaspi.kz JSCHAM:KKS +1.04%59 EV-to-FCF is 9.46 as of Jul. 12, 2026, which is 7% below its 10-year median of 10.17. GuruFocus rates HAM:KKS with a GF Score™ of 59/100 and a GF Value™ of €172.99 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,596 Software companies, Kaspi.kz JSC ranks better than 69.05% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Kaspi.kz JSC's Enterprise Value is €11,385 Mil.
Kaspi.kz JSC's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was €1,203 Mil. Therefore, Kaspi.kz JSC's EV-to-FCF for today is 9.46.
The historical rank and industry rank for Kaspi.kz JSC's EV-to-FCF or its related term are showing as below:
HAM:KKS'
s EV-to-FCF Range Over the Past 10 Years
Min: -81.33 Med: 10.17 Max: 287.03
Current: 9.31
During the past 10 years, the highest EV-to-FCF of Kaspi.kz JSC was 287.03. The lowest was -81.33. And the median was 10.17.
HAM:KKS's EV-to-FCF is ranked better than 69.05% of 1596
companies
in the Software industry
Industry Median: 14.73
vs HAM:KKS: 9.31
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Kaspi.kz JSC's PE Ratio (TTM) for today is calculated as:
Kaspi.kz JSC's share price for today is €77.40.
Kaspi.kz JSC's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €9.373.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Kaspi.kz JSC EV-to-FCF Related Terms
Kaspi.kz JSC EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Kaspi.kz JSC's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Software - Infrastructure subindustry, Kaspi.kz JSC's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kaspi.kz JSC EV-to-FCF vs Software Industry
For the Software industry and Technology sector, Kaspi.kz JSC's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Kaspi.kz JSC's EV-to-FCF falls into.
Kaspi.kz JSC's current Enterprise Value is €11,385 Mil.
Kaspi.kz JSC's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €1,203 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kaspi.kz JSC (HAM:KKS) has a EV-to-FCF of 9.46 as of Jul. 12, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Kaspi.kz JSC and its competitors. This is near median its historical median of 10.17. According to the industry distribution chart, Kaspi.kz JSC ranks #494 out of 1596 companies in the Software industry, placing it in the top 31%.
Is Kaspi.kz JSC's EV-to-FCF too high?
Kaspi.kz JSC's current EV-to-FCF of 9.46 is near median its 10-year median of 10.17. The Software industry median EV-to-FCF is 14.73. Kaspi.kz JSC's value of 9.46 is 35.8% below this industry median. Based on the distribution chart, Kaspi.kz JSC ranks #494 out of 1596 companies in the Software industry, which is above the industry midpoint. Overall, Kaspi.kz JSC has a GF Score™ of 59/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kaspi.kz JSC's EV-to-FCF compare to MSFT and ORCL?
According to the Software industry distribution chart, Kaspi.kz JSC ranks #494 out of 1596 companies for EV-to-FCF. This puts Kaspi.kz JSC in the upper half of its industry. The industry median EV-to-FCF is 14.73. Kaspi.kz JSC's value of 9.46 is 35.8% below this benchmark. While the company's 10-year median is 10.17 vs. the industry median of 14.73, Kaspi.kz JSC has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for a Software company?
The median EV-to-FCF among Software companies is 14.73, based on 1,596 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Kaspi.kz JSC's current EV-to-FCF of 9.46 is 35.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Kaspi.kz JSC and its competitors. For the Software industry, the median EV-to-FCF is 14.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kaspi.kz JSC's current EV-to-FCF is 9.46, which is near median its own 10-year median of 10.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kaspi.kz JSC stock overvalued right now?
Based on GuruFocus' analysis, Kaspi.kz JSC (HAM:KKS) is currently considered Significantly Undervalued. The stock's GF Value™ is €172.99, compared to a current price of €77.40 — trading 55.3% below its estimated fair value. The current EV-to-FCF is 9.46, which is near median its 10-year median of 10.17 and 35.8% below the Software industry median of 14.73. Kaspi.kz JSC's overall GF Score™ is 59/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Kaspi.kz JSC (HAM:KKS), the current EV-to-FCF is 9.46 as of Jul. 12, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kaspi.kz JSC (HAM:KKS) Overvalued in 2026?
Based on GuruFocus' analysis, Kaspi.kz JSC stock appears to be undervalued.
The current stock price of €77.40 is trading 55.3% below its estimated GF Value™ of €172.99.
GuruFocus considers Kaspi.kz JSC to be Significantly Undervalued.
Key valuation signals for HAM:KKS:
EV-to-FCF: 9.46 (near median its 10-year median of 10.17)
GF Value™: €172.99 vs. price of €77.40 (55.3% below fair value)
Industry Position: 35.8% below the Software median (#494 of 1596)
No single metric tells the full story. See the HAM:KKS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kaspi.kz JSC is the payment, marketplace, and Fintech ecosystem in Kazakhstan. The firm provides interconnected technologically seamless products and services that help people to pay, shop and manage their finances. Its operating segment includes the Payments Platform that connects its customers, which consist of both consumers and merchants, to facilitate cashless, digital transactions, the Marketplace Platform, which derives maximum revenue, connects merchants and consumers enabling merchants to increase their sales and consumers to buy a broad selection of products and services offered by a variety of merchants, and Fintech Platform that enables customers to manage their personal finances online and access consumer finance and deposit products through the Kaspi.kz Super App.
59GF Score
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