COMPARE · Data as of August 21, 2026
KSPI vs NICE
Verdict: Side-by-side breakdown using the Bull Rankings model. KSPI scored 67.0, NICE scored 82.2 — NICE leads.
Compare another set
KSPI
Joint Stock Company Kaspi.kz
67
$105.55 · $20.1B
fundamentals as of
Score gap
15.2
NICE leads
NICE
NICE Ltd.
82.2
$100.24 · $5.9B
fundamentals as of
At a glance · who leads each dimension, on the model's own rules
- CheapestKSPI9.0x
- Fastest growthKSPI+59.8%
- Strongest balance sheetNICE0.02
- Highest qualityKSPI85 / 100
- Largest discount to fair valueNICE-54%
Side by side · every name on one set of axes
Growth against the P/E multiple. Up and to the right is cheaper and faster — the quality-growth idea in one picture. Points beyond the axis are pinned to the edge and marked off-scale rather than allowed to compress everything else.
The model, pillar by pillar (0–100 each)
KSPI
stronger →← stronger
NICE
85
Qualityreturns · margins · balance sheet
84
98
Growthrevenue & earnings expansion
76
66
Valuevaluation vs sector peers
87
KSPI is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
KSPI
NICE
$1.5bC+
FCF
$698mC+
+59.8%A
Rev
+7.7%B
0.22B
D/E
0.02A-
9.0xA
P/E
14.6xA-
1.07B+
PEG
0.75A-
Winner per row is the stronger grade; where grades tie, the better figure breaks it. A true tie or a missing value shows no highlight.
Valuation · DCF cross-check
KSPI
NICE
20% below
Price vs fair valuelower is cheaper
54% below
~1%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-10%/yr
+16%
1-yr DCF upside
+92%
+24%
5-yr DCF upside
+119%
+37%
10-yr DCF upside
+165%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
KSPI
Why this score
- Short track record
- Foreign reporter (KZT)
NICE
Why this score
- Buying back stock
The companies
KSPIJoint Stock Company Kaspi.kz
Why now
Software - Infrastructure · market cap $20.1b. Trading near 52-week high of $106.05 — momentum setup, limited technical margin of safety. Revenue growing +60% — in hypergrowth territory. 7 sell-side analysts rate this a Buy with a mean 1-yr target of $103.40 (implying -2% upside).
Moat
Net margin 26% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 41% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Software economics — recurring revenue, embedded customer workflows, and high gross margin all compound the moat once a base account is won. Switching costs are the lever.
Risk
Trading within 0% of the 52-week high — limited technical margin of safety; a momentum reversal would test conviction. Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
NICENICE Ltd.
Why now
Software - Application · market cap $5.9b. Down 35% from 52-week high of $153.68 — deep drawdown territory. PEG 0.75 — paying under fair value for the growth rate. 13 sell-side analysts rate this a Buy with a mean 1-yr target of $125.85 (implying +26% upside).
Moat
Net margin 21% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 16% sits above Buffett's preferred 15% threshold — the equity base is compounding at a rate the market struggles to discount accurately. FCF converts 114% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Down 35% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.
Where KSPI and NICE diverge
On the headline score the gap is 15.2 points in favor of NICE. They get there differently, though — each leads on a different pillar, so the better pick depends on which you weight.
- GrowthKSPI 98.1 · NICE 76.0KSPI +22.1
- ValueKSPI 65.6 · NICE 87.4NICE +21.8
- QualityKSPI 84.8 · NICE 83.7level
Pillars run 0–100 against sector peers, so a score is a statement about a company relative to its own industry rather than to the other name here. A wide Value gap usually means the market already prices the difference in quality or growth — which is the trade-off this comparison comes down to.