Credicorp Ltd.

NYSE:BAP Stock Report

Market Cap: US$15.4b

Credicorp Valuation

Is BAP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BAP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BAP ($193.48) is trading below our estimate of fair value ($296.11)

Significantly Below Fair Value: BAP is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BAP?

Key metric: As BAP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BAP. This is calculated by dividing BAP's market cap by their current earnings.
What is BAP's PE Ratio?
PE Ratio11.2x
EarningsS/5.22b
Market CapS/58.36b

Price to Earnings Ratio vs Peers

How does BAP's PE Ratio compare to its peers?

The above table shows the PE ratio for BAP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.9x
CMA Comerica
16.7x10.9%US$8.9b
FITB Fifth Third Bancorp
15.1x8.1%US$31.1b
USB U.S. Bancorp
15.4x11.6%US$78.6b
FCNC.A First Citizens BancShares
12.3x-7.9%US$30.7b
BAP Credicorp
11.2x11.8%US$15.4b

Price-To-Earnings vs Peers: BAP is good value based on its Price-To-Earnings Ratio (11.2x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does BAP's PE Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FRCB First Republic Bank
0.02xn/aUS$27.98m
BKGM BankGuam Holding
1xn/aUS$18.48m
SBNY Signature Bank
0.002xn/aUS$2.18m
BCBH.F Caribbean Investment Holdings
0.00001xn/aUS$132.00
No more companies available in this PE range
BAP 11.2xIndustry Avg. 12.8xNo. of Companies78PE0612182430+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BAP is good value based on its Price-To-Earnings Ratio (11.2x) compared to the US Banks industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is BAP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BAP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.2x
Fair PE Ratio16.3x

Price-To-Earnings vs Fair Ratio: BAP is good value based on its Price-To-Earnings Ratio (11.2x) compared to the estimated Fair Price-To-Earnings Ratio (16.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BAP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$193.48
US$204.60
+5.7%
8.1%US$224.00US$160.00n/a13
Nov ’25US$181.76
US$201.05
+10.6%
8.1%US$224.00US$160.00n/a13
Oct ’25US$182.90
US$192.44
+5.2%
10.5%US$220.00US$143.00n/a13
Sep ’25US$178.35
US$190.31
+6.7%
9.7%US$209.00US$143.00n/a13
Aug ’25US$166.00
US$188.06
+13.3%
9.9%US$209.52US$139.00n/a13
Jul ’25US$158.09
US$187.89
+18.8%
8.3%US$207.00US$150.00n/a13
Jun ’25US$165.32
US$188.32
+13.9%
8.7%US$209.67US$150.00n/a12
May ’25US$164.79
US$183.21
+11.2%
9.0%US$207.00US$144.00n/a12
Apr ’25US$168.27
US$178.10
+5.8%
10.2%US$195.16US$140.00n/a13
Mar ’25US$171.91
US$176.75
+2.8%
9.8%US$194.00US$140.00n/a13
Feb ’25US$150.41
US$167.15
+11.1%
10.3%US$190.00US$135.00n/a13
Jan ’25US$149.93
US$159.94
+6.7%
10.9%US$190.00US$121.00n/a13
Dec ’24US$128.35
US$159.40
+24.2%
11.2%US$196.00US$121.00n/a13
Nov ’24US$126.55
US$164.77
+30.2%
9.4%US$196.00US$129.00US$181.7613
Oct ’24US$127.97
US$170.97
+33.6%
11.1%US$207.00US$129.00US$182.9013
Sep ’24US$142.94
US$169.23
+18.4%
11.8%US$207.00US$129.00US$178.3514
Aug ’24US$158.47
US$165.78
+4.6%
11.6%US$207.00US$129.00US$166.0015
Jul ’24US$147.64
US$163.47
+10.7%
10.1%US$191.46US$127.00US$158.0915
Jun ’24US$132.24
US$162.88
+23.2%
10.0%US$191.67US$127.00US$165.3215
May ’24US$136.57
US$162.17
+18.7%
10.3%US$190.09US$124.00US$164.7915
Apr ’24US$132.39
US$161.56
+22.0%
9.9%US$187.49US$124.00US$168.2716
Mar ’24US$131.27
US$160.92
+22.6%
9.8%US$187.16US$124.00US$171.9116
Feb ’24US$134.72
US$159.44
+18.3%
8.4%US$183.57US$131.00US$150.4115
Jan ’24US$135.66
US$158.41
+16.8%
8.9%US$185.14US$135.00US$149.9315
Dec ’23US$151.22
US$155.56
+2.9%
8.6%US$184.83US$135.00US$128.3514
Nov ’23US$152.27
US$152.28
+0.009%
9.5%US$177.46US$130.80US$126.5515

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

National Bank of Greece

€6.3b

Provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom.

NBGI.F

€7.60

7D

-2.4%

1Y

12.4%

Bank Negara Indonesia (Persero)

Rp180.7t

Provides various banking products and services in Indonesia, New York, Europe, and Asia.

PBNN.F

Rp0.25

7D

-7.4%

1Y

-21.9%

Grupo Financiero Banorte. de

Mex$405.3b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

GBOO.F

Mex$7.05

7D

3.1%

1Y

-23.2%