Credicorp Ltd (BAP) fair value: what the stock is really worth
As of Nov 4, 2026: fair value (intrinsic value) of Credicorp Ltd stock $702, price $359, upside +95.4%, quality 72 out of 100. Rating: strongly undervalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $70.70 – $402.27 · fair‑value band $534.57 – $1,004 · the $359.21 price screens below the $701.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Credicorp Ltd., together with its subsidiaries, provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.
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It operates through Universal Banking; Insurance, Medical Services, and Pensions; Microfinance; and Investment Management and Advisory segments. The company grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.
It also issues insurance policies to cover losses in commercial property, transport, marine vessels, automobiles, life, health, and pensions; provides medical and health services, as well as management services of private pension funds to the affiliates.
In addition, the company is involved in the management of loans, credits, and deposits and checking accounts of the small and microenterprises; provision of brokerage service and investment management services to corporations, institutional investors, governments, and foundations; structuring and placement of issues in the primary market; execution and negotiation of transactions in the secondary market; structures securitization processes for corporate customers; and manages mutual funds.
Further, it engages in the provision of custody, trustee, capital markets, asset management, and payment processing services; operates digital platform for e commerce; management and development of digital businesses; and acts as a private pension fund administrator.
Credicorp Ltd. was founded in 1889 and is headquartered in Lima, Peru.
Stock analysis
Credicorp Ltd (BAP) currently trades at $359.21, while our model-based Fair Value estimate is $701.96, implying the stock looks roughly 49% undervalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $724.45 per share, and 5 of the 6 models we run sit above the $359.21 price.
Bear case: the Asset-Based group reads lowest at $258.04, and 1 of the 6 models stay below the price. Data coverage for this calculation is high.
Scenario range: $534.57 (bear) to $1,004 (bull), the price of $359.21 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Financial Services sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Credicorp Ltd reported revenue of $28.9B in FY2025 versus $19.2B in FY2021, a compound +10.8%/yr. Reported net income was $6.9B in FY2025, compounding +17.9%/yr from FY2021.
Key figures
Market cap $31.0B Large · P/E ratio 13.3 · P/S ratio 3.19 · EPS (TTM) $27.01 · Dividend yield 3.7% · Net margin 23.9% · Return on equity 20.4% · Return on assets (EBIT) 2.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 74 out of 100 (low confidence).
What moves the price
The share trades about 11% below its 52-week high and 52% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −35% fair-value upside, at 95%, BAP screens cheaper than that median.
Fair Value models
Bear$534.57Fair Value $701.96Bull$1,004
Price $359.21 · Upside +95.4%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 2 officers or directors sold shares worth $1.5M and none bought.
SaleDiego Antonio CaveroCEO Head Universal Banking3,500 shares at $319.00$1.1MJun 5, 2026
SaleAlejandro Perez-ReyesCFO1,073 shares at $337.50$362,138May 21, 2026
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+7.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.7%
Start year 2020 (pandemic). Over 10 years: +7.2% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+17.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+14.0%
Dividend (yield on the price)3.7%
Per share before 2014divided by the spin-off factor 1.039
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.14.0% vs 8.4%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 34%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
The company could shrink this much every year for the next five years and today's price would still be justified.
News mood ⓘNews mood, the average tone of recent news (89 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Credicorp's diversified platform across banking, insurance and pensions, backed by digital progress and risk management, has enabled stronger loan growth and a raised ROE target, yet remains limited by thin public signals and sector-typical constraints.
Main risk: Rivals such as Plin backed by BBVA Interbank and Scotiabank or other fintech neobanks could capture more payment volume and lending customers from Yape and BCP forcing lower fees or margins in digital services.
Bull case: Credicorp could leverage its Yape scale and AI agents to deepen customer relationships and offer more products profitably while adapting faster than smaller rivals to any regulatory shifts.
Bear case: If rivals erode Yape's dominance or regulators tighten rules sharply the group might see slower growth in digital lending and payments with compressed margins across its Peruvian core businesses.
Credicorp operates as Peru's leading financial group with a diversified platform spanning universal banking, insurance, pensions and microfinance that reaches all segments of the population. Recent execution has delivered stronger loan growth and a raised medium-term ROE target thanks to digital progress and better risk management, yet near-term results remain exposed to El Niño provisions. Will the structural improvements sustain higher returns or will climate-related costs keep pulling them back?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1002 stocks
Beats the industry median on 12/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+95.4% · Top 25%
Profitability
Return on equity (12 months)20.4% · Top 25%
Return on assets2.6% · Top 25%
Net margin (12 months)33.1% · Above median
Operating margin (12 months)49.4% · Above median
Growth and dividend
Revenue growth (quarter YoY)12.0% · Above median
Dividend yield (12 months)3.7% · Above median
Balance sheet
Debt / equity0.68× · Above median
Valuation Multiplesvs Banks - Regional median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Credicorp Ltd Fair Value". https://www.fairvalue-calculator.com/stock/BAP
Frequently asked questions
Is Credicorp Ltd (BAP) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $701.96 versus a price of $359.21, about +95% upside (undervalued).
What is the fair value of BAP?
Our model-based fair value for Credicorp Ltd is $701.96 (as of Nov 3, 2026), built from audited fundamentals. The current price: $359.21.
What is the quality score of BAP?
Credicorp Ltd has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Credicorp Ltd (BAP)?
Our model-based price target is the fair value of $701.96 (as of Nov 3, 2026) from 6 valuation models. Cautious scenario $534.57, optimistic scenario $1,004. It is a calculation from audited fundamentals, not an analyst target.
What is the Credicorp Ltd stock forecast for 2026?
Our models put fair value at $701.96, about +95% upside versus a price of $359.21 (undervalued). Cautious scenario $534.57, optimistic scenario $1,004. The calculation is refreshed regularly with new filings.
What is the revenue of Credicorp Ltd (BAP)?
Credicorp Ltd reported trailing-twelve-month revenue of about $22.3B (latest available figure, as of Nov 3, 2026).
Does Credicorp Ltd pay a dividend?
Credicorp Ltd currently shows a dividend yield of 3.69% relative to its recent price (as of Nov 3, 2026).
What growth is priced into Credicorp Ltd (BAP)?
For today's price to be fair in a discounted-cash-flow model, Credicorp Ltd would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.7 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of BAP use?
Our models discount Credicorp Ltd at 8.9 %: a base by market capitalisation (large), damped by beta 0.87, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Credicorp Ltd that is less than minus 40 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Credicorp Ltd (BAP) delivered so far?
Over the past 5 years revenue at Credicorp Ltd grew +9.7 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Credicorp Ltd (BAP) growing?
The median revenue growth in the sector is +9.4 % a year. That is the yardstick for the growth priced into Credicorp Ltd (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Credicorp Ltd (BAP)?
The free-cash-flow yield on the price is 27.11 %: that much free cash flow Credicorp Ltd produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Credicorp Ltd (BAP)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Credicorp Ltd it is $701.96 per share (as of Nov 3, 2026), against a price of $359.21. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Credicorp Ltd stock overvalued or undervalued in 2026?
As of Nov 3, 2026, BAP trades below its calculated fair value: price $359.21, fair value $701.96, a gap of about +95% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BAP?
No. The price is what the market pays today ($359.21); the fair value is what the company's own numbers justify ($701.96). For Credicorp Ltd the two are $342.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Credicorp Ltd worth?
The market values Credicorp Ltd at about $31.0B (market capitalisation, as of Nov 3, 2026). Per share that is $359.21; our models calculate a fair value of $701.96 per share.
What do the bullish and bearish scenarios say about BAP?
Our models span a range for Credicorp Ltd: cautious scenario $534.57, base $701.96, optimistic $1,004 per share (as of Nov 3, 2026, price $359.21). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BAP?
Credicorp Ltd trades at a price-to-earnings ratio of 13.3 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $701.96 is built from several models across several years. Other multiples: PEG 4.6, P/B 0.9, P/S 1.4, EV/EBITDA 1.1.
What is the PEG ratio of BAP?
The PEG ratio of Credicorp Ltd is 4.55 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Credicorp Ltd (BAP)?
Balance-sheet figures for Credicorp Ltd (as of Nov 3, 2026): return on equity 20.4%, debt of 0.68 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is BAP from its 52-week high?
Credicorp Ltd trades at $359.21, about 11% below its 52-week high of $402.27 and 52% above the low of $236.44 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $701.96 is for.
Which stocks are comparable to Credicorp Ltd?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, UniCredit S.p.A, Mizuho Financial Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Credicorp Ltd stock attractive at the current price?
The data as of Nov 3, 2026: price $359.21, calculated fair value $701.96 (+95%), Quality Score 72/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BAP calculated?
We run Credicorp Ltd through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $701.96, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.0% above its aggregate fair value. Credicorp Ltd currently trades 49% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Credicorp Ltd (BAP)?
The closing price on Nov 4, 2026 was $359.21. Our model-based fair value is $701.96, about +95% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Credicorp Ltd right now?
The price is below even our cautious bear case ($534.57). The market is more pessimistic than our downside scenario. Solid quality (72/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($534.57 to $1,004) leaves room in how you read the outcome. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Credicorp Ltd (BAP) come from?
Earnings per share at Credicorp Ltd grew +7.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +7.5 %, EBIT margin +0.2 %, tax rate −0.2 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Credicorp Ltd
How large is the market capitalisation of Credicorp Ltd (BAP)?
The market capitalisation of Credicorp Ltd is $31.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Credicorp Ltd (BAP)?
The price-to-sales ratio of Credicorp Ltd is 3.19 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Credicorp Ltd (BAP)?
Earnings per share at Credicorp Ltd are $27.01 (price ÷ EPS = P/E 13.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Credicorp Ltd (BAP)?
The dividend yield of Credicorp Ltd is 3.7% (payout 49.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Credicorp Ltd (BAP)?
The net margin of Credicorp Ltd is 23.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Credicorp Ltd (BAP)?
The return on equity (ROE) of Credicorp Ltd is 20.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Credicorp Ltd (BAP)?
On an EBIT basis the return on assets of Credicorp Ltd is 2.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Credicorp Ltd (BAP)?
The operating margin of Credicorp Ltd is 49.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Credicorp Ltd (BAP)?
Revenue at Credicorp Ltd is growing +12.0% versus a year earlier (3y avg +11.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Credicorp Ltd (BAP)?
Earnings per share at Credicorp Ltd are growing +8.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Credicorp Ltd (BAP) hold?
Credicorp Ltd holds more cash than debt, $8.8B net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 3, 2026