Kazatomprom
ConvictionContext
Low-cost in-situ-recovery (ISR) uranium miner selling U3O8 to nuclear utilities and traders under a mix of long-term and spot-linked contracts; ~75% state-owned in aggregate (Samruk-Kazyna ~63% + Kazakh Ministry of Finance ~12% since Jul 2024), ~25% free float; operating via JVs with Cameco, Orano, CGN and Rosatom/Uranium One; 'value over volume' production discipline; ~75%-of-FCF dividend policy.
Revenue
KZT 1,803.0B~$3.4B) FY2025Rev growth
-1% YoYKZT, FY2025 vs FY2024Gross margin
not separately disclosedC1 cash cost $18.06/lb vs realized $65.32/lb implies ~72% cash margin (gross margin not reportedOp margin
~43%operating profit KZT 779.0B / rev, FY2025Capex intensity
~22% of revenuecapex KZT 398.2B, +25% YoY FY2025Market cap
~$18.3BLSE/Astana AIX GDR, ticker KAP; 259.36M shares x ~$70.50, Jul 3 2026; some data providers show ~$20B intraday on higher printsThe read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Kazatomprom
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence