Credicorp Ltd. (NYSE:BAP) Sees Cooling Momentum But Maintains Fair-Valued Outlook

Credicorp shows signs of short-term momentum cooling while core valuation metrics point to a fair-valued status; mixed operational results and weaker earnings growth suggest consolidation in the near term.

Recent News

On January 29, 2026 Credicorp’s board set a virtual Annual General Meeting for March 31, 2026 (backup April 7) with a record date of February 13, 2026; agenda items include presentation of 2025 results, appointment of directors, determination of board and committee remuneration, and appointment of external auditors.

Technical Analysis

Directional indicators: ADX at 25.44 indicates a meaningful trend strength; DI+ at 27.49 shows a decreasing trend (bearish), while DI- at 21.60 registered a peak-and-reversal (bullish), creating a short-term conflict that favors consolidation rather than a clear breakout.

MACD and signal: MACD sits at 6.44 and is decreasing while the signal line reads 8.40; MACD below its signal line signals waning bullish momentum and a bearish momentum posture for the near-term price path.

Momentum & regression: MRO at 30.56 and decreasing signals the price sits above the model target and implies downside pressure should momentum mean-revert; that condition supports a near-term bias toward price normalisation.

Price vs moving averages and bands: The closing price of $346.38 lies marginally below the 20-day average ($346.61) and well above the 50-day ($325.98) and 200-day ($264.54) averages, while the 12-day EMA shows a peak-and-reversal — a short-term bearish cue within a longer-term uptrend. Bollinger bands place the stock between $337.72 (lower 1σ) and $355.50 (upper 1σ), indicating limited immediate volatility expansion.

RSI and volume: RSI at 62.75 and decreasing points to a cooling from recent strength rather than a fresh oversold opportunity. Daily volume (797,319) sits above the 10-day average (587,945), suggesting moves carry conviction but currently align with consolidation risk.

 


Fundamental Analysis

Earnings and surprise: Reported EPS of $5.93 missed the estimate of $6.45 by $0.52, an EPS surprise of -8.06%, reflecting near-term earnings pressure that ties directly to the subdued momentum observed technically.

Earnings growth: Trailing metrics show earnings growth at -8.35% (overall), quarter-over-quarter decline of -9.92%, and a year-over-year decline of -68.49%, indicating material recent earnings compression that shapes the valuation conversation.

Revenue trajectory: YoY revenue change registers -38.49% while the point revenue growth figure shows +0.59%; QoQ revenue growth reads 0.00%, implying revenue stagnation with a pronounced year-on-year drop that weighs on near-term EPS recovery expectations.

Valuation multiples and peer context: Trailing P/E equals 52.10, below the industry peer mean of 60.82 and slightly below the industry peer median of 54.32. Forward P/E stands at 33.21, below the industry peer mean (47.97) and below the industry peer median (36.43), which compresses forward valuation relative to peers. PEG at -6.24 lies between the industry peer median (-7.82) and mean (-4.87), reflecting negative growth-adjusted multiples in the peer set.

Capital, liquidity, and cost: Invested capital reported at $-60,612,382,000; cash conversion cycle at 0 days versus an industry peer mean near 13.50 days; cost of debt at 3.95% supports funding adequacy. Forward EPS projects $8.04, carrying a forward earnings multiple that helps justify the current fair-valued designation.

Valuation conclusion: The current valuation as determined by WMDST labels the stock fair-valued; trailing and forward multiples sit below peer means, while pronounced YoY earnings and revenue declines limit re-rating potential absent operational improvement.

MOST-RECENT QUARTERLY REPORT
REPORT PERIOD ENDING: 2025-12-31
REPORT DATE: 2026-02-11
NEXT REPORT DATE: 2026-05-13
CASH FLOW  Begin Period Cash Flow
 Operating Cash Flow
 Capital Expenditures
 Change In Working Capital
 Dividends Paid
 Cash Flow Delta
 End Period Cash Flow
 
INCOME STATEMENT REVENUE
 Total Revenue
 Forward Revenue
COSTS
 Cost Of Revenue
 Depreciation
 Depreciation and Amortization
 Research and Development
 Total Operating Expenses
PROFITABILITY
 Gross Profit
 EBITDA
 EBIT
 Operating Income
 Interest Income
 Interest Expense
 Net Interest Income
 Income Before Tax
 Tax Provision
 Tax Rate
 Net Income
 Net Income From Continuing Operations
EARNINGS
 EPS Estimate 6.45
 EPS Actual 5.93
 EPS Difference -0.52
 EPS Surprise -8.062 %
 Forward EPS 8.04
 
BALANCE SHEET ASSETS
 Total Assets
 Intangible Assets
 Net Tangible Assets
 Total Current Assets
 Cash and Short-Term Investments
 Cash
 Net Receivables
 Inventory
 Long-Term Investments
LIABILITIES
 Accounts Payable
 Short-Term Debt
 Total Current Liabilities
 Net Debt
 Total Debt
 Total Liabilities
EQUITY
 Total Equity
 Retained Earnings
VALUATION & PER-SHARE METRICS EQUITY & PER-SHARE METRICS
 Book Value Per-Share
 Shares Outstanding
 Revenue Per-Share
VALUATION
 Market Capitalization
 Enterprise Value
 Enterprise Multiple
Enterprise Multiple QoQ
Enterprise Multiple YoY
Enterprise Multiple IPRWA
 EV/R
CAPITAL STRUCTURE
 Asset To Equity
 Asset To Liability
 Debt To Capital
 Debt To Assets
Debt To Assets QoQ
Debt To Assets YoY
Debt To Assets IPRWA
 Debt To Equity
Debt To Equity QoQ
Debt To Equity YoY
Debt To Equity IPRWA
PRICE-BASED VALUATION
 Price To Book (P/B)
Price To Book QoQ
Price To Book YoY
Price To Book IPRWA
 Price To Earnings (P/E) 52.097
Price To Earnings QoQ 32.241 %
Price To Earnings YoY 297.183 %
Price To Earnings IPRWA high: 87.915
mean: 60.822
median: 54.316
BAP: 52.097
low: 37.244
 PE/G Ratio -6.242
 Price To Sales (P/S)
Price To Sales QoQ
Price To Sales YoY
Price To Sales IPRWA
FORWARD MULTIPLES
Forward P/E 33.214
Forward PE/G -3.98
Forward P/S
EFFICIENCY OPERATIONAL
 Operating Leverage
ASSET & SALES
 Asset Turnover Ratio
Asset Turnover Ratio QoQ
Asset Turnover Ratio YoY
Asset Turnover Ratio IPRWA
 Receivables Turnover
Receivables Turnover Ratio QoQ
Receivables Turnover Ratio YoY
Receivables Turnover Ratio IPRWA
 Inventory Turnover
Inventory Turnover Ratio QoQ
Inventory Turnover Ratio YoY
Inventory Turnover Ratio IPRWA
 Days Sales Outstanding (DSO)
CASH CYCLE
 Cash Conversion Cycle Days (CCC) 0.0
Cash Conversion Cycle Days QoQ
Cash Conversion Cycle Days YoY
Cash Conversion Cycle Days IPRWA high: 83.413
mean: 13.496
low: 10.154
median: 10.154
BAP: 0.0
CAPITAL DEPLOYMENT
 Cash Conversion Ratio
 CapEx To Revenue
 CapEx To Depreciation
 
CAPITAL, LIQUIDITY & COVERAGE CAPITAL STRUCTURE
 Total Capital
 Net Invested Capital
 Invested Capital -60.61 B
 Net Tangible Assets
 Net Working Capital
LIQUIDITY
 Cash Ratio
 Current Ratio
Current Ratio QoQ
Current Ratio YoY
Current Ratio IPRWA
 Quick Ratio
Quick Ratio QoQ
Quick Ratio YoY
Quick Ratio IPRWA
COVERAGE & LEVERAGE
 Debt To EBITDA
 Cost Of Debt 3.948 %
 Interest Coverage Ratio
Interest Coverage Ratio QoQ
Interest Coverage Ratio YoY
Interest Coverage Ratio IPRWA
 Operating Cash Flow Ratio
TIMING / LIQUIDITY
 Days Payables Outstanding (DPO)
DIVIDENDS
 Dividend Coverage Ratio
 Dividend Payout Ratio
 Dividend Rate
 Dividend Yield
PERFORMANCE GROWTH
 Asset Growth Rate
 Revenue Growth 0.585 %
Revenue Growth QoQ 0.0 %
Revenue Growth YoY -38.486 %
Revenue Growth IPRWA high: 5.65 %
mean: 2.817 %
median: 0.725 %
BAP: 0.585 %
low: -1.639 %
 Earnings Growth -8.346 %
Earnings Growth QoQ -991.667 %
Earnings Growth YoY -68.489 %
Earnings Growth IPRWA high: 12.184 %
BAP: -8.346 %
mean: -14.875 %
median: -27.174 %
low: -45.133 %
MARGINS
 Gross Margin
Gross Margin QoQ
Gross Margin YoY
Gross Margin IPRWA
 EBIT Margin
EBIT Margin QoQ
EBIT Margin YoY
EBIT Margin IPRWA
 Return On Sales (ROS)
Return On Sales QoQ
Return On Sales YoY
Return On Sales IPRWA
CASH FLOW
 Free Cash Flow (FCF)
 Free Cash Flow Yield
Free Cash Flow Yield QoQ
Free Cash Flow Yield YoY
Free Cash Flow Yield IPRWA
 Free Cash Growth
Free Cash Growth QoQ
Free Cash Growth YoY
Free Cash Growth IPRWA
 Free Cash To Net Income
 Cash Flow Margin
 Cash Flow To Earnings
VALUE & RETURNS
 Economic Value Added
 Return On Assets (ROA)
Return On Assets QoQ
Return On Assets YoY
Return On Assets IPRWA
 Return On Capital Employed (ROCE)
 Return On Equity (ROE)
Return On Equity QoQ
Return On Equity YoY
Return On Equity IPRWA
 DuPont ROE
 Return On Invested Capital (ROIC)
Return On Invested Capital QoQ
Return On Invested Capital YoY
Return On Invested Capital IPRWA

Six-Week Outlook

Expect consolidation with a modest downside tilt over the next six weeks. Technical signals — MACD below its signal line, a decreasing RSI, and a positive but falling MRO — favour mean reversion from recent levels. Short-term support aligns near the super trend lower at $332.22 and the 20-day average around $346.6; upside remains capped by the upper Bollinger band near $355.5 and the analyst price-target mean at $383.45. Fundamental weakness in YoY earnings and revenue growth argues against a sustained momentum breakout during this window, leaving price action likely range-bound unless fresh operational catalysts emerge.

About Credicorp Ltd.

Credicorp Ltd. (NYSE:BAP) represents a prominent financial services group headquartered in Lima, Peru, with roots tracing back to 1889. The company delivers a comprehensive suite of financial services through its four primary segments: Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management. Within the Universal Banking segment, Credicorp provides a range of services including loans, credit facilities, and deposit accounts for both individual and corporate clients. The Insurance and Pensions division offers extensive insurance coverage, addressing needs in commercial property, transport, life, and health, while also managing private pension funds. The Microfinance segment supports small and microenterprises by providing customized loan solutions and financial management services to foster growth and sustainability. In the Investment Banking and Equity Management sector, Credicorp offers brokerage and investment management services, facilitating capital market transactions and managing mutual funds for a diverse clientele, including corporations and institutional investors. Credicorp’s strategic approach and dedication to service excellence have positioned it as a reliable financial partner, promoting economic growth and financial inclusion both in Peru and internationally.



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