Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$56.85, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 162% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$88.91 per share. Reported Earnings • May 15
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: S/5.39 (up from S/3.92 in 1Q 2025). Revenue: S/1.61b (up 28% from 1Q 2025). Net income: S/598.3m (up 35% from 1Q 2025). Profit margin: 37% (up from 35% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Apr 19
Upcoming dividend of US$1.71 per share Eligible shareholders must have bought the stock before 24 April 2026. Payment date: 05 May 2026. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (4.2%). Lower than average of industry peers (2.3%). Declared Dividend • Apr 04
Dividend of US$1.71 announced Shareholders will receive a dividend of US$1.71. Ex-date: 24th April 2026 Payment date: 5th May 2026 Dividend yield will be 3.4%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (22% payout ratio) and is expected to be well covered in 3 years' time (49% forecast payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 01
Intercorp Financial Services Inc. Approves Dividend Distribution for the Fiscal Year 2025, Payable on May 5, 2026 Intercorp Financial Services Inc. at the AGM held on March 31, 2026 approved Dividend Distribution for the fiscal year 2025. For the year, the company resolved to distribute USD 1.80 (One and 80/100 US Dollars) per share in circulation as dividend on the 2025 net profits. The total amount of dividends which will be distributed by IFS will be USD 207,796,869.00, equivalent to PEN 723,964,291.60 based on exchange rate of PEN 3.484 per dollar. The company set April 24, 2026 as Record Date, and May 5, 2026 as Payment Date. Announcement • Mar 24
Intercorp Financial Services Inc., Annual General Meeting, Mar 31, 2026 Intercorp Financial Services Inc., Annual General Meeting, Mar 31, 2026, at 09:30 SA Pacific Standard Time. Reported Earnings • Mar 23
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: S/17.30 (up from S/11.38 in FY 2024). Revenue: S/5.50b (up 23% from FY 2024). Net income: S/1.93b (up 49% from FY 2024). Profit margin: 35% (up from 29% in FY 2024). The increase in margin was driven by higher revenue. Non-performing loans: 2.37% (down from 2.62% in FY 2024). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 6.1%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 13
Full year 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2025 results: EPS: S/17.30 (up from S/11.38 in FY 2024). Revenue: S/5.60b (up 25% from FY 2024). Net income: S/1.93b (up 49% from FY 2024). Profit margin: 35% (up from 29% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 6.1%. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 07
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: S/4.07 (up from S/3.36 in 3Q 2024). Revenue: S/1.41b (up 14% from 3Q 2024). Net income: S/453.3m (up 17% from 3Q 2024). Profit margin: 32% (in line with 3Q 2024). Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 13
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: S/5.14 (up from S/2.49 in 2Q 2024). Revenue: S/1.52b (up 45% from 2Q 2024). Net income: S/577.2m (up 103% from 2Q 2024). Profit margin: 38% (up from 27% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • May 09
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: S/3.92 (up from S/1.22 in 1Q 2024). Revenue: S/1.30b (up 51% from 1Q 2024). Net income: S/443.6m (up 217% from 1Q 2024). Profit margin: 34% (up from 16% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 19
Upcoming dividend of US$0.95 per share Eligible shareholders must have bought the stock before 24 April 2025. Payment date: 05 May 2025. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (5.0%). In line with average of industry peers (3.1%). Announcement • Apr 10
Intercorp Financial Services Inc. Announces Audit Committee Changes, Effective April 9, 2025 Intercorp Financial Services Inc. notified, as a Material Event, that in a virtual session held on April 9, 2025, IFS’ Board of Directors unanimously approved, effective immediately, to appoint Ms. Cayetana Aljovín Gazzani as a new member of IFS' Audit Committee, replacing Mr. Alfonso Bustamante y Bustamante. Ms. Aljovín is independent under Rule 10A-3 of the Securities Exchange Act and has submitted to IFS her independence declaration. Therefore, IFS' Audit Committee is composed by the following Board members: (a) Mr. Felipe Morris Guerinoni, (b) Mr. Guillermo Martínez Barros, and (c) Ms. Cayetana Aljovín Gazzani. Announcement • Apr 04
Intercorp Financial Services Inc. announces Annual dividend, payable on May 05, 2025 Intercorp Financial Services Inc. announced Annual dividend of USD 1.0000 per share payable on May 05, 2025, ex-date on April 24, 2025 and record date on April 24, 2025. Declared Dividend • Apr 03
Dividend of US$0.95 announced Shareholders will receive a dividend of US$0.95. Ex-date: 24th April 2025 Payment date: 5th May 2025 Dividend yield will be 3.0%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (39% payout ratio) and is expected to be well covered in 3 years' time (49% forecast payout ratio). The dividend has decreased over the past 96 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 70% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 19
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: S/11.38 (up from S/9.33 in FY 2023). Revenue: S/4.49b (up 9.7% from FY 2023). Net income: S/1.30b (up 21% from FY 2023). Profit margin: 29% (up from 26% in FY 2023). The increase in margin was driven by higher revenue. Non-performing loans: 2.62% (down from 3.42% in FY 2023). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Mar 19
Intercorp Financial Services Inc., Annual General Meeting, Mar 31, 2025 Intercorp Financial Services Inc., Annual General Meeting, Mar 31, 2025, at 16:30 Coordinated Universal Time. Reported Earnings • Feb 06
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: S/11.38 (up from S/9.33 in FY 2023). Revenue: S/4.49b (up 9.7% from FY 2023). Net income: S/1.30b (up 21% from FY 2023). Profit margin: 29% (up from 26% in FY 2023). The increase in margin was driven by higher revenue. Non-performing loans: 2.62% (down from 3.42% in FY 2023). Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 14
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: S/3.39 (up from S/1.69 in 3Q 2023). Revenue: S/1.26b (up 39% from 3Q 2023). Net income: S/387.9m (up 100% from 3Q 2023). Profit margin: 31% (up from 21% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: S/2.49 (down from S/2.85 in 2Q 2023). Revenue: S/1.10b (down 2.2% from 2Q 2023). Net income: S/284.5m (down 14% from 2Q 2023). Profit margin: 26% (down from 29% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue exceeded analyst estimates by 7.6%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • May 15
First quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2024 results: EPS: S/1.22 (down from S/2.30 in 1Q 2023). Revenue: S/878.1m (down 19% from 1Q 2023). Net income: S/140.2m (down 47% from 1Q 2023). Profit margin: 16% (down from 25% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 39%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 6% per year. Declared Dividend • Apr 04
Dividend of US$0.095 announced Shareholders will receive a dividend of US$0.095. Ex-date: 17th April 2024 Payment date: 29th April 2024 Dividend yield will be 0.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (44% payout ratio) and is expected to be well covered in 3 years' time (41% forecast payout ratio). The dividend has increased over the past 8 years. However, payments have been volatile during that time. EPS is expected to grow by 83% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 21
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: S/9.33 (down from S/14.45 in FY 2022). Revenue: S/4.09b (down 14% from FY 2022). Net income: S/1.07b (down 36% from FY 2022). Profit margin: 26% (down from 35% in FY 2022). The decrease in margin was driven by lower revenue. Non-performing loans: 3.42% (up from 2.90% in FY 2022). Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$27.81, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 6.9% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$48.03 per share. Reported Earnings • Feb 14
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: S/9.33 (down from S/14.39 in FY 2022). Revenue: S/4.10b (down 15% from FY 2022). Net income: S/1.07b (down 35% from FY 2022). Profit margin: 26% (down from 34% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 3.9%. Earnings per share (EPS) also surpassed analyst estimates by 26%. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: S/1.69 (vs S/5.29 in 3Q 2022) Third quarter 2023 results: EPS: S/1.69 (down from S/5.29 in 3Q 2022). Revenue: S/898.4m (down 38% from 3Q 2022). Net income: S/193.8m (down 68% from 3Q 2022). Profit margin: 22% (down from 42% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 07
IFS Appoints André Robberts as President for Southern & Western Europe & Latam IFS announces the appointment of André Robberts as the new regional President for Southern and Western Europe and LATAM. Robberts will be taking over from current president Marc Genevois, who will move to a new role as Global President of Strategic Initiatives. These appointments underpin the company's goal to cement its lead in ERP, EAM, FSM, and ESM in its key markets and be a partner of choice for large global companies in its core industries. The appointment of Robberts, who is moving from Oracle and his post of COO EMEA North to IFS, is evidence that the company's consistent performance, industry accolades and increasing visibility is attracting highly experienced and seasoned senior talent to build on the exceptional results of the first half of 2023. Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: S/2.85 (vs S/2.16 in 2Q 2022) Second quarter 2023 results: EPS: S/2.85 (up from S/2.16 in 2Q 2022). Revenue: S/1.08b (up 8.5% from 2Q 2022). Net income: S/329.0m (up 32% from 2Q 2022). Profit margin: 30% (up from 25% in 2Q 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: S/2.30 (vs S/3.47 in 1Q 2022) First quarter 2023 results: EPS: S/2.30 (down from S/3.47 in 1Q 2022). Revenue: S/1.16b (up 3.7% from 1Q 2022). Net income: S/265.1m (down 34% from 1Q 2022). Profit margin: 23% (down from 36% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 20
Upcoming dividend of US$1.12 per share at 4.9% yield Eligible shareholders must have bought the stock before 27 April 2023. Payment date: 08 May 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 4.9%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (3.5%). Reported Earnings • Mar 22
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: S/14.39 (down from S/15.51 in FY 2021). Revenue: S/4.83b (up 4.4% from FY 2021). Net income: S/1.66b (down 7.2% from FY 2021). Profit margin: 34% (down from 39% in FY 2021). The decrease in margin was driven by higher expenses. Non-performing loans: 2.90% (down from 3.48% in FY 2021). Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 3.4%. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: S/14.39 (vs S/15.51 in FY 2021) Full year 2022 results: EPS: S/14.39 (down from S/15.51 in FY 2021). Revenue: S/4.85b (up 4.8% from FY 2021). Net income: S/1.66b (down 7.2% from FY 2021). Profit margin: 34% (down from 39% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 3 highly experienced directors. Non-Executive Director John Walsh was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: S/5.29 (up from S/4.76 in 3Q 2021). Revenue: S/1.46b (up 16% from 3Q 2021). Net income: S/610.7m (up 11% from 3Q 2021). Profit margin: 42% (down from 44% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 46%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improved over the past week After last week's 16% share price gain to US$25.61, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 10x in the Banks industry in the US. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$46.99 per share. Reported Earnings • Aug 17
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: S/2.16 (down from S/3.93 in 2Q 2021). Revenue: S/1.03b (down 5.2% from 2Q 2021). Net income: S/248.9m (down 45% from 2Q 2021). Profit margin: 24% (down from 42% in 2Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 40%. Over the next year, revenue is forecast to grow 22%, compared to a 16% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Ramón Guillermo Martínez Barros was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 3 highly experienced directors. Independent Director Ramón Guillermo Martínez Barros was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S/15.51 (up from S/3.32 in FY 2020). Revenue: S/4.63b (up 105% from FY 2020). Net income: S/1.79b (up 367% from FY 2020). Profit margin: 39% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 4.10% (down from 4.50% in FY 2020). Cost-to-income ratio: 34.7% (up from 32.2% in FY 2020). Non-performing loans: 3.48% (up from 3.26% in FY 2020). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 14%, compared to a 11% growth forecast for the banks industry in the US. Upcoming Dividend • Apr 20
Upcoming dividend of US$1.66 per share Eligible shareholders must have bought the stock before 27 April 2022. Payment date: 06 May 2022. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of American dividend payers (3.7%). Lower than average of industry peers (2.7%). Reported Earnings • Mar 17
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S/15.51 (up from S/3.32 in FY 2020). Revenue: S/4.63b (up 105% from FY 2020). Net income: S/1.79b (up 367% from FY 2020). Profit margin: 39% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Non-performing loans: 3.48% (up from 3.26% in FY 2020). Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 1.8%. Over the next year, revenue is forecast to grow 12%, compared to a 5.9% growth forecast for the banks industry in the US. Reported Earnings • Feb 13
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: EPS: S/15.51 (up from S/3.32 in FY 2020). Revenue: S/4.65b (up 106% from FY 2020). Net income: S/1.79b (up 367% from FY 2020). Profit margin: 39% (up from 17% in FY 2020). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) also missed analyst estimates by 1.8%. Over the next year, revenue is forecast to stay flat compared to a 5.2% growth forecast for the banks industry in the US. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 17% share price gain to US$30.97, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Banks industry in the US. Total loss to shareholders of 3.8% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$52.25 per share. Upcoming Dividend • Dec 07
Upcoming dividend of US$0.62 per share Eligible shareholders must have bought the stock before 14 December 2021. Payment date: 20 December 2021. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment improved over the past week After last week's 19% share price gain to US$29.00, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Banks industry in the US. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$52.55 per share. Reported Earnings • Nov 12
Third quarter 2021 earnings released: EPS S/4.76 (vs S/2.63 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: S/1.32b (up 60% from 3Q 2020). Net income: S/549.4m (up 73% from 3Q 2020). Profit margin: 42% (up from 38% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improved over the past week After last week's 16% share price gain to US$21.94, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 7.6% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$39.15 per share. Reported Earnings • Aug 13
Second quarter 2021 earnings released: EPS S/3.93 (vs S/4.12 loss in 2Q 2020) The company reported a soft second quarter result with weaker revenues and profit margins, although earnings were improved. Second quarter 2021 results: Revenue: S/1.14b (down 808% from 2Q 2020). Net income: S/453.4m (up S/906.9m from 2Q 2020). Profit margin: 40% (down from 282% in 2Q 2020). The decrease in margin was primarily driven by lower revenue. Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorated over the past week After last week's 15% share price decline to S/19.21, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Banks industry in the US. Total loss to shareholders of 18% over the past year. Simply Wall St's valuation model estimates the intrinsic value at US$33.49 per share. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorated over the past week After last week's 16% share price decline to S/25.70, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Banks industry in the US. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$38.31 per share. Reported Earnings • May 15
First quarter 2021 earnings released: EPS S/4.56 (vs S/1.24 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: S/1.16b (up 56% from 1Q 2020). Net income: S/526.3m (up 267% from 1Q 2020). Profit margin: 45% (up from 19% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improved over the past week After last week's 18% share price gain to S/29.43, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Banks industry in the US. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$39.55 per share. Upcoming Dividend • Apr 20
Upcoming dividend of US$0.77 per share Eligible shareholders must have bought the stock before 27 April 2021. Payment date: 06 May 2021. Trailing yield: 5.1%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.3%). Reported Earnings • Mar 22
Full year 2020 earnings released: EPS S/3.32 (vs S/12.78 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: S/2.26b (down 41% from FY 2019). Net income: S/383.3m (down 73% from FY 2019). Profit margin: 17% (down from 37% in FY 2019). The decrease in margin was driven by lower revenue. Non-performing loans: 3.26% (up from 2.47% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 19
New 90-day high: US$35.09 The company is up 32% from its price of US$26.65 on 20 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$35.13 per share. Reported Earnings • Feb 13
Full year 2020 earnings released: EPS S/3.32 (vs S/12.78 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: S/2.40b (down 38% from FY 2019). Net income: S/383.3m (down 73% from FY 2019). Profit margin: 16% (down from 37% in FY 2019). Non-performing loans: 3.26% (up from 2.47% in FY 2019). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 13
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 0.5%. Earnings per share (EPS) exceeded analyst estimates by 57%. Over the next year, revenue is forecast to grow 108%, compared to a 17% growth forecast for the Banks industry in the US. Is New 90 Day High Low • Jan 01
New 90-day high: US$32.35 The company is up 41% from its price of US$22.93 on 02 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 32% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$23.36 per share. Is New 90 Day High Low • Dec 08
New 90-day high: US$31.19 The company is up 27% from its price of US$24.56 on 08 September 2020. The American market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Banks industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$19.09 per share. Is New 90 Day High Low • Nov 21
New 90-day high: US$26.65 The company is up 3.0% from its price of US$25.80 on 21 August 2020. The American market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$21.66 per share. Valuation Update With 7 Day Price Move • Nov 19
Market bids up stock over the past week After last week's 21% share price gain to S/25.02, the stock is trading at a trailing P/E ratio of 25.3x, up from the previous P/E ratio of 21x. This compares to an average P/E of 11x in the Banks industry in the US. Total return to shareholders over the past year is a loss of 32%. Analyst Estimate Surprise Post Earnings • Nov 15
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 2.5%. Earnings per share (EPS) exceeded analyst estimates by 588%. Over the next year, revenue is forecast to grow 104%, compared to a 18% growth forecast for the Banks industry in the US. Reported Earnings • Nov 14
Third quarter 2020 earnings released: EPS S/2.63 The company reported a soft third quarter result with weaker earnings and revenues, although profit margins were improved. Third quarter 2020 results: Revenue: S/689.6m (down 27% from 3Q 2019). Net income: S/317.4m (down 4.5% from 3Q 2019). Profit margin: 46% (up from 35% in 3Q 2019). The increase in margin was driven by lower expenses. Is New 90 Day High Low • Oct 26
New 90-day low: US$22.11 The company is down 13% from its price of US$25.27 on 28 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$20.82 per share. Is New 90 Day High Low • Oct 02
New 90-day low: US$22.55 The company is down 17% from its price of US$27.15 on 02 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is US$20.87 per share.