ASTS
AST SpaceMobile, Inc.
ASTS offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
KSPI
Joint Stock Company Kaspi.kz
KSPI has the edge over ASTS overall, supported by lower modeled downside.
ASTS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Weak | |
| Weak | |
| Unavailable |
ASTS's revenue is currently healthy, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
KSPI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
KSPI's revenue, profitability, cash flow and balance sheet are all currently healthy.
ASTS PE Valuation
ASTS has no meaningful PE right now: it lost money over the past year.
KSPI PE Valuation
KSPI has no meaningful PE right now: it lost money over the past year.
ASTS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| -- | |
| Limited | |
| Low |
Analysts expect ASTS's losses to grow, with revenue growing. However, they disagree widely on these estimates.
KSPI Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for KSPI, but weaker profitability.
ASTS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$2.15 | -$0.91 |
| Q2 2026 | -$2.16 | -$0.27 |
| Q1 2026 | -$1.80 | +$0.19 |
| Q4 2025 | -$1.34 | +$0.61 |
| Q3 2025 | -$1.24 | +$0.88 |
| Q2 2025 | -$1.89 | -$0.64 |
| Q1 2025 | -$1.99 | -$1.01 |
| Q4 2022 | -$0.58 | -$0.21 |
ASTS is still losing money, but far less than before: $2.15 per share over the past year, against $5.76 at its worst in mid-2021.
KSPI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $12.32 | -4.2% |
| Q1 2026 | $12.30 | -3.1% |
| Q4 2025 | $12.47 | +1.1% |
| Q3 2025 | $12.97 | +13% |
| Q2 2025 | $12.86 | +16% |
| Q1 2025 | $12.69 | +21% |
| Q4 2024 | $12.33 | +25% |
| Q3 2024 | $11.51 | +25% |
KSPI has the edge over ASTS on earnings quality, reporting a profit while its opponent remains loss making.
ASTS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $42.3M | +187% |
| Q2 2026 | $31.5M | +2627% |
| Q1 2026 | $14.7M | +1952% |
| Q4 2025 | $54.3M | +2731% |
| Q3 2025 | $14.7M | +1240% |
| Q2 2025 | $1.2M | +28% |
| Q1 2025 | $718K | +44% |
| Q3 2022 | $4.2M | +70% |
ASTS's revenue has grown year over year for 11 quarters in a row: $42M last quarter, up 187% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -415% | +694 points |
| Q2 2026 | -948% | +10744 points |
| Q1 2026 | -1686% | +7083 points |
| Q4 2025 | -175% | +2446 points |
| Q3 2025 | -1109% | +4850 points |
| Q2 2025 | -11692% | -4693 points |
| Q1 2025 | -8769% | +2331 points |
| Q4 2024 | -2621% | N/A |
ASTS's operating margin was −415% last quarter, up 694 points from the same quarter a year ago.
KSPI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $2.5B | +14% |
| Q1 2026 | $2.3B | +25% |
| Q4 2025 | $2.5B | +53% |
| Q3 2025 | $2.5B | +70% |
| Q2 2025 | $2.2B | +64% |
| Q1 2025 | $1.8B | +49% |
| Q4 2024 | $1.6B | +27% |
| Q3 2024 | $1.5B | +30% |
KSPI's revenue has grown year over year every quarter since late 2023: $2.5B last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 29% | -26 points |
| Q1 2026 | 30% | -7.6 points |
| Q4 2025 | 31% | -21 points |
| Q3 2025 | 57% | +5.6 points |
| Q2 2025 | 56% | -18 points |
| Q1 2025 | 37% | -11 points |
| Q4 2024 | 52% | -0.4 points |
| Q3 2024 | 52% | -32 points |
KSPI has the edge over ASTS on profitability, with a higher operating margin.
ASTS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$464.2M | -$161.4M |
| Q2 2026 | -$694.8M | -$341.1M |
| Q1 2026 | -$309.7M | -$160.7M |
| Q4 2025 | -$330.7M | -$220.3M |
| Q3 2025 | -$302.9M | -$239.1M |
| Q2 2025 | -$353.6M | -$315.3M |
| Q1 2025 | -$149M | -$61.3M |
| Q4 2024 | -$110.5M | -$63.2M |
ASTS has burned cash in almost every quarter: −$1.8B over the past year, against −$916M the year before.
KSPI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.5B | +64% |
| Q1 2026 | $120.4M | +$461.1M |
| Q4 2025 | $872.7M | +52% |
| Q3 2025 | -$323.1M | -188% |
| Q2 2025 | $895.5M | +56% |
| Q1 2025 | -$340.7M | +$82.1M |
| Q4 2024 | $574.3M | -40% |
| Q3 2024 | $367.6M | +$652.3M |
KSPI has the edge over ASTS on cash generation, producing positive trailing cash flow while its opponent burns cash.
ASTS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +1.1M shares |
| 1 year | +10% | +27.3M shares |
| 3 years | +235% | +211M shares |
| 5 years | +480% | +248M shares |
| Available history | +944% | +271M shares |
ASTS has 300M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
KSPI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +3K shares |
| 1 year | -0.8% | -1.6M shares |
| 3 years | -1% | -1.8M shares |
KSPI has the edge over ASTS on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | $63.8M |
| Q4 2025 | $49.3M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
KSPI spent $113M buying back its own shares over the past year, after none the year before.
ASTS Net Leverage
ASTS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
KSPI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
| Q3 2024 | -0.2x | Net Cash |
KSPI's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago.
ASTS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.1 | Neutral |
| Stochastic | 11.9 | Oversold |
ASTS's weekly RSI is 34 (neutral) and its Stochastic is 12 (oversold).
KSPI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.6 | Neutral |
| Stochastic | 15.5 | Oversold |
KSPI's weekly RSI is 46 (neutral) and its Stochastic is 15 (oversold).
ASTS PE vs Technology Sector
ASTS has no meaningful PE right now: it lost money over the past year.
KSPI PE vs Technology Sector
| Metric | KSPI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
KSPI has no meaningful PE right now: it lost money over the past year.
ASTS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $44.9 | 23% below |
| 20 week MA | $57.1 | 40% below |
| 50 week MA | $75.5 | 54% below |
| 100 week MA | $57.8 | 40% below |
| 200 week MA | $33.6 | 2.8% above |
KSPI has stronger trend alignment. ASTS is above 1 of 5 weekly averages versus KSPI above 2 of 4.
KSPI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $92.4 | 4.1% below |
| 20 week MA | $94.4 | 6.1% below |
| 50 week MA | $85.2 | 4% above |
| 100 week MA | $86.4 | 2.6% above |
KSPI has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 2.6% above its 100-week average.
ASTS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.87 | $13.4 | +36% |
| 2021 | $13.4 | $8.71 | -35% |
| 2022 | $8.71 | $3.97 | -54% |
| 2023 | $3.97 | $6.03 | +52% |
| 2024 | $6.03 | $22.9 | +280% |
| 2025 | $22.9 | $72.0 | +214% |
| 2026 YTD | $72.0 | $34.5 | -52% |
ASTS's yearly returns have swung widely, from +280% in 2024 to −54% in 2022. It's down 52% so far in 2026.
KSPI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $96.0 | $96.7 | +0.8% |
| 2025 | $96.7 | $78.7 | -19% |
| 2026 YTD | $78.7 | $88.6 | +13% |
KSPI has the edge over ASTS on returns for 2026, with the stronger performance.