CREDICORP LTD (BAP) Stock Analysis
CREDICORP LTD
▾ What's in the 40/100 risk score? (higher = riskier)
Contributions (weight × component score) sum to the total. This near-term score now includes fundamental health (leverage, FCF trend). See the Financial Health section for the full balance-sheet read.
How to read BAP (bank / insurer)
Banks and insurers are valued on what they earn on their capital, not on free cash flow — a normal DCF misleads here.
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Bank / Insurance lens (P/TBV + ROE) ↓
Price-to-tangible-book versus return-on-equity is how analysts actually judge a bank cheap or rich.
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Financial-health screens ↓
Watch the trend in profitability and asset quality, not the (not-applicable) bankruptcy score.
It files little or nothing with the SEC — so our cash-flow models, financial statements, and U.S. insider data (Form 4) don't apply. What's still real: the live U.S. price and short positioning. Here's what we could pull from other sources:
📑 Read the real filings: latest SEC 6-K ↗
Identity, share count and tier from FINRA + OTC Markets; not a substitute for the home-market financial statements. Thin U.S. disclosure + OTC trading is itself a risk factor.
How does BAP stack up against its closest peers?
We take the 8 same-industry companies most similar to BAP (similar size) and check what investors are paying for each dollar of their revenue (or profits). If BAP is much more expensive on the same yardstick, that's a red flag — unless you have a specific reason it deserves a premium. For a leveraged business, FCF yield (in the table) is usually more reliable than EV/Sales, because revenue multiples ignore differences in margins and debt.
▾ What's "EV / Sales" in plain English?
EV (Enterprise Value) = market cap + total debt − cash. It's "what you'd pay to buy the entire company outright" — you pay the market cap to shareholders and take over their debt, but you keep their cash. EV is fairer than market cap alone because it includes the debt the new owner inherits.
EV / Sales = EV ÷ annual revenue. So "2.5×" means investors pay $2.50 of enterprise value per $1 of yearly sales. Higher = market is paying more per dollar of sales (usually because they expect future growth or fat margins).
p25 / median / p75 are the 25th, 50th (middle), and 75th percentile of the peers' multiples. Half the peers fall between p25 and p75. The median (p50) is the typical peer — that's the benchmark we compare to.
Bold middle number = median peer. Half the peers trade above it, half below. Computed over 8 same-industry peers; implausible multiples excluded.
⚠️ Important caveat: peer multiples only work if the peers are genuinely comparable. Always check the peer list below — if the auto-picker grabbed micro-caps or unrelated businesses, the comparison is noise. A medical-device giant priced against tiny biotech startups won't produce a useful signal.
▾ View peer list (8)
| Ticker | Company | Industry | Mcap | EV/EBIT | FCF Yield |
|---|---|---|---|---|---|
| SHG | SHINHAN FINANCIAL GROUP CO LTD | Banks | $30.1B | — | 8.2% |
| WF | WOORI FINANCIAL GROUP INC. | Banks | $51.3B | — | 4.2% |
| VYLD | JPMORGAN CHASE & CO | Banks | $77.9B | — | 70.5% |
| SMFG | SUMITOMO MITSUI FINANCIAL GROUP, I | Banks | $85.3B | — | — |
| VLYPN | VALLEY NATIONAL BANCORP | Banks | $14.3B | — | 4.1% |
| VLYPP | VALLEY NATIONAL BANCORP | Banks | $13.9B | — | 4.2% |
| VLYPO | VALLEY NATIONAL BANCORP | Banks | $13.9B | — | 4.2% |
| BNY | Bank of New York Mellon Corp | Banks | $95.7B | — | 5.6% |
Quality & solvency checks
Cheap stocks can be cheap for a reason. These screens warn when a low valuation comes paired with structural fragility.
Why it matters: Cheap-looking stocks (low P/E or P/B) often have low Z-scores because the market knows the company is dying. Z-score warns you before you fall into a value trap.
Reference: > 3.0 = safe zone · 1.81–3.0 = grey zone · < 1.81 = distress zone
Full explanation →
Altman Z was calibrated on industrial firms and doesn't apply to banks or insurers — their balance sheets are dominated by loans/securities, not working capital. See the Bank Valuation Lens above for P/B, ROE and ROA — the metrics regulators and analysts actually use to assess bank solvency.
Why it matters: High score = fundamentals improving. Low score = deteriorating. Especially powerful for filtering cheap stocks: cheap + high F-score historically outperforms; cheap + low F-score is often a value trap.
Reference: 7–9 = strong · 4–6 = mediocre · 0–3 = weak
Full explanation →
Piotroski F was built for non-financial firms (gross margin, asset turnover, current ratio all assume an industrial cost structure). For banks, the equivalent quality signals are efficiency ratio, net interest margin, and provision coverage — see the Bank Valuation Lens above.
A standard DCFDCF — Discounted Cash Flow — sums up all future cash a business will produce, adjusted for the fact that future dollars are worth less than dollars today.
Why it matters: It is the most fundamentally honest valuation method when applicable — but only works for companies with predictable, positive cash flow.
Reference: Best for: mature, profitable businesses. Fails for: pre-profit growth, banks, REITs.
Full explanation → valuation is not meaningful for Credicorp Ltd. because, as a financial institution, a residual income model is used, which currently implies no positive equity value under its assumptions. Investors are likely focused on the company's core banking operations and its ability to generate consistent earnings in its operating regions. The #1 quantifiable risk is its low franchise/durability score of 0/5, indicating potential long-term competitive challenges.
As of 3 months ago
Anatomy of a share
What you're buying per share. Bars are at the same scale so you can see the relative size of revenue, costs, cash flow, and debt — not just read them in a table.
What you actually need to decide
Every stock price is a disagreement. Here's the single thing that must go right for the bulls, the single thing that breaks the thesis, and the concrete signposts to watch so you can update your view as real results arrive.
- Growth in loan portfolio and deposits
- Trends in non-interest income
- Changes in regulatory environment
Management & Leadership
Credicorp Ltd. is led by CEO Gianfranco Ferrari, who has been in the role since 2020. The company is a prominent financial services holding company in Peru and other Latin American countries.
What They Make
Credicorp Ltd. provides a wide range of financial services, including universal banking, insurance, and investment banking, primarily to individuals and corporations in Peru and other Latin American markets.
End Markets
Revenue Drivers
Why Is It Priced Like This?
Why Customers Pay
The income statement and balance sheet are also too incomplete here to substitute another lens honestly, so this page carries price, momentum and disclosure facts only.
The market's pricing for Credicorp is likely driven by expectations for its continued earnings generation from its established banking franchise, despite the residual income model implying no positive equity value under current assumptions. The low franchise/durability score of 0/5 suggests investors may be cautious about its long-term competitive position, but its established market presence provides some stability.
Business Model & Valuation
How They Make Money
Credicorp typically funds itself through deposits and debt, and has a history of paying dividends, though specific rates are not provided here.
Residual Income
Balance-sheet financial (Banks): residual income model - book value is meaningful anchor.
Show advanced inputs
| Sector Default | 8.0% |
What this model does NOT do: this is a consolidated owner-earnings FCF model. Standalone segment assumptions: none. It does not project net interest income and fee-income lines independently; their combined effect is embedded in the historical revenue and cash-flow trend the model extrapolates. The calculator above can only approximate a segment's impact through the single consolidated growth rate — it cannot model any one line separately. For a true segment-level view, build a separate model from the company's segment disclosures.
Maturity & Competitive Position
Moat Signals
Geography & Markets
Credicorp Ltd. operates primarily in Peru, with significant operations also in Bolivia, Chile, and Colombia. Specific geographic mix percentages are not available from current data sources.
Geographic Risks
Market Signals
These are timing signals, not value signals — they describe the stock's recent price behavior, not what the business is worth. Use them for the "the thesis looks good, but is now the moment?" question. Each tile below explains what it's saying.
Why it matters: Short-term contrarian indicator. Extreme readings often precede mean reversion, though not always.
Reference: 30–70 normal · >70 overbought · <30 oversold
Full explanation → (14)55.3NeutralMomentum is balanced — neither overbought nor oversold.
Why it matters: When the fast line crosses above the slow line, short-term momentum is turning up; below, turning down. A timing cue, not a value signal.
Reference: Line above signal = bullish momentum · below = bearish
Full explanation →BullishLine above signalThe fast trend is above the slow trend — short-term momentum is currently upward.
Technicals describe price, not the business. A great company can have a "bearish" tape (a buying chance) and a weak one a "bullish" tape (a trap). Pair these with the valuation and health sections above.
QUALITY
Data Quality & Risk Flags (5 notes — click to expand/collapse)
Guardrail Notes (5)
- Financial sector: using residual income model. IV = Book Value + PV(excess earnings).
- INVARIANT: weighted IV is non-positive. Model may not be appropriate.
- Model implies no positive equity value under these assumptions. Valuation is speculative/low-confidence.
- Model mismatch: residual income inappropriate for asset-light financial (BVPS $0.00 not meaningful vs price $343). Consider FCF model.
- DATA UNAVAILABLE: per-share values suppressed due to missing/unreliable shares data.
FINANCIALS
Financial Statements (5-year tables — click to expand)
From CREDICORP LTD's SEC filings (EDGAR).
Similar companies worth a look
Same sector and industry, similar fundamentals shape. Verify everything yourself — this list is computed mechanically and does not reflect our judgment about whether any of these are a good investment.