WallStSmart

Joint Stock Company Kaspi.kz (KSPI)vsOracle Corporation (ORCL)

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Smart Verdict

WallStSmart Research — data-driven comparison

Joint Stock Company Kaspi.kz generates 5584% more annual revenue ($3.64T vs $64.08B). KSPI leads profitability with a 26.5% profit margin vs 25.3%. KSPI trades at a lower P/E of 6.3x. ORCL earns a higher WallStSmart Score of 76/100 (B+).

KSPI

Buy

60

out of 100

Grade: C

Growth: 7.3Profit: 8.0Value: 7.0Quality: 7.8
Piotroski: 5/9

ORCL

Strong Buy

76

out of 100

Grade: B+

Growth: 8.0Profit: 9.0Value: 10.0Quality: 2.5
Piotroski: 2/9Altman Z: 0.59
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

KSPIUndervalued (+5.2%)

Margin of Safety

+5.2%

Fair Value

$78.81

Current Price

$74.77

$4.04 discount

UndervaluedFair: $78.81Overvalued
ORCLUndervalued (+40.2%)

Margin of Safety

+40.2%

Fair Value

$244.26

Current Price

$146.02

$98.24 discount

UndervaluedFair: $244.26Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

KSPI6 strengths · Avg: 9.7/10
P/E RatioValuation
6.3x10/10

Attractively priced relative to earnings

Price/BookValuation
0.0x10/10

Reasonable price relative to book value

Return on EquityProfitability
51.2%10/10

Every $100 of equity generates 51 in profit

Revenue GrowthGrowth
52.0%10/10

Revenue surging 52.0% year-over-year

Profit MarginProfitability
26.5%9/10

Keeps 27 of every $100 in revenue as profit

Debt/EquityHealth
0.199/10

Conservative balance sheet, low leverage

ORCL6 strengths · Avg: 9.2/10
Market CapQuality
$423.04B10/10

Mega-cap, among the largest globally

Return on EquityProfitability
57.6%10/10

Every $100 of equity generates 58 in profit

Operating MarginProfitability
32.7%10/10

Strong operational efficiency at 32.7%

Profit MarginProfitability
25.3%9/10

Keeps 25 of every $100 in revenue as profit

PEG RatioValuation
0.958/10

Growing faster than its price suggests

Revenue GrowthGrowth
21.7%8/10

Revenue surging 21.7% year-over-year

Areas to Watch

KSPI3 concerns · Avg: 2.3/10
Operating MarginProfitability
0.0%3/10

Operating margin of 0.0%

EPS GrowthGrowth
-9.5%2/10

Earnings declined 9.5%

Free Cash FlowQuality
$-1.38T2/10

Negative free cash flow — burning cash

ORCL4 concerns · Avg: 3.3/10
P/E RatioValuation
27.7x4/10

Moderate valuation

Price/BookValuation
12.5x4/10

Trading at 12.5x book value

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Free Cash FlowQuality
$-11.48B2/10

Negative free cash flow — burning cash

Comparative Analysis Report

WallStSmart Research

Bull Case : KSPI

The strongest argument for KSPI centers on P/E Ratio, Price/Book, Return on Equity. Profitability is solid with margins at 26.5%. Revenue growth of 52.0% demonstrates continued momentum.

Bull Case : ORCL

The strongest argument for ORCL centers on Market Cap, Return on Equity, Operating Margin. Profitability is solid with margins at 25.3% and operating margin at 32.7%. Revenue growth of 21.7% demonstrates continued momentum.

Bear Case : KSPI

The primary concerns for KSPI are Operating Margin, EPS Growth, Free Cash Flow.

Bear Case : ORCL

The primary concerns for ORCL are P/E Ratio, Price/Book, Piotroski F-Score. Debt-to-equity of 4.15 is elevated, increasing financial risk.

Key Dynamics to Monitor

ORCL carries more volatility with a beta of 1.65 — expect wider price swings.

KSPI is growing revenue faster at 52.0% — sustainability is the question.

ORCL generates stronger free cash flow (-11.5B), providing more financial flexibility.

Monitor SOFTWARE - INFRASTRUCTURE industry trends, competitive dynamics, and regulatory changes.

Bottom Line

ORCL scores higher overall (76/100 vs 60/100), backed by strong 25.3% margins and 21.7% revenue growth. Both earn "Strong Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Joint Stock Company Kaspi.kz

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Joint Stock Company Kaspi.kz is a leading fintech and digital services provider in Kazakhstan, offering a comprehensive suite of solutions that includes digital banking, e-commerce, and payment processing. Leveraging innovative technology, the company plays a pivotal role in promoting financial inclusion, serving millions of customers in the region with tailored services. With a strong market position and a dedicated focus on innovation, Kaspi.kz is strategically positioned to meet the burgeoning demand for digital financial services in Central Asia, making it an attractive investment opportunity for institutional investors looking to capitalize on growth in emerging markets.

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Oracle Corporation

TECHNOLOGY · SOFTWARE - INFRASTRUCTURE · USA

Oracle is an American multinational computer technology corporation headquartered in Austin, Texas. The company was formerly headquartered in Redwood Shores, California until December 2020 when it moved its headquarters to Texas. The company sells database software and technology, cloud engineered systems, and enterprise software products, particularly its own brands of database management systems.

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