Credicorp Ltd. (NYSE:BAP) Consolidates Under Moderate Momentum Ahead Of AGM; Near-Term Stabilization Likely

Credicorp shows contained price action with WMDST valuing the stock as fair-valued, while fundamentals reveal meaningful contraction in earnings and revenue that constrain upside potential through upcoming corporate events.

Recent News

Dec 23, 2025 — Analysts published a consensus recommendation of “Moderate Buy” for Credicorp. Jan 29, 2026 — the board set a virtual Annual General Meeting for March 31, 2026. Feb 27, 2026 — the company disclosed director nominees and published documentation ahead of the March 31, 2026 shareholders’ meeting.

Technical Analysis

ADX / DI+ / DI-: ADX at 15.61 indicates no established trend; DI+ recorded a peak-and-reverse (bearish) while DI- recorded a peak-and-reverse (bullish), producing offsetting directional signals that lack trend strength given the low ADX reading.

MACD: MACD sits negative at -2.85 with a dip-and-reversal pattern that signals improving momentum, but the MACD remains below its signal line (-1.08), so bullish momentum has not yet overcome prior downside pressure.

MRO (Momentum/Regression Oscillator): MRO at -2.78 indicates the price sits below the model target, implying room for price reversion upward; the MRO trend decreasing reduces the immediacy of that potential.

RSI: RSI at 55.28 and decreasing shows upside momentum waning from modestly favorable levels rather than offering strong overbought or oversold conviction.

Price vs. Moving Averages & Ichimoku: The last close at $329.83 sits slightly below the 12-day EMA ($330.79) and the 26-day EMA ($334.51), and inside the Ichimoku cloud (Senkou A $344.44 / Senkou B $310.10), consistent with consolidation rather than a directional breakout; the 50-day average ($339.95) remains well above the price while the 200-day average ($274.79) stays well below, indicating longer-term outperformance versus the multiyear baseline.

Bollinger Bands & Volume: Price trades inside the 1x Bollinger band ($324.43–$337.63), implying limited immediate volatility expansion; daily volume (324,642) sits below recent 10/50/200-day averages, signaling lighter participation during the consolidation.

 


Fundamental Analysis

Earnings and Revenue: Reported EPS of $5.93 missed the estimate of $6.45 by $0.52, an EPS surprise of -8.06%. Earnings growth shows a QoQ decline of -9.92% and a YoY decline of -68.49%. Reported revenue growth registers +0.59% on the short measure provided, while YoY revenue fell by -38.49%, indicating material year-over-year revenue contraction despite near-term stability.

Profitability & Cash Flow: Cash conversion to earnings shows $0.00 in the provided metric. Cost of debt stands at 3.95%, which frames financing expense against return metrics. Invested capital is reported at -$60,612,382,000, a notable accounting figure that materially affects capital-return calculations.

Valuation Multiples: Current P/E at 52.10x sits below the industry peer mean (61.57x) and industry peer median (61.87x). Forward EPS equals $8.08 with a forward P/E of 33.21x, below the industry peer mean forward P/E provided (45.38x). PEG sits negative at -6.24, more negative than the industry peer mean (approximately -3.60), reflecting depressed near-term earnings growth embedded in current multiples. WMDST values the stock as fair-valued given the mix of above-average multiples and deteriorating earnings metrics.

Outlook Drivers: The next scheduled report date is May 13, 2026, and the March 31, 2026 AGM represents an immediate corporate catalyst; both events may materially influence near-term fundamental perception and re-rate the multiples currently in place.

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 8.08
 
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
median: 61.871
mean: 61.572
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)
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
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 %
median: 3.449 %
mean: 2.759 %
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 %
median: -8.679 %
mean: -16.218 %
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 0.0
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 range-bound action through the next six weeks as directional indicators lack strength and price sits inside the Ichimoku cloud and the 1x Bollinger band ($324.43–$337.63). Momentum shows tentative improvement (MACD dip-and-reversal) but remains negative beneath the signal line, suggesting upside remains conditional rather than sustained. Negative YoY earnings and revenue declines constrain conviction for a sustained breakout; catalysts include the March 31, 2026 AGM and the next earnings release on May 13, 2026, which may trigger renewed directional movement. Short-term volatility metrics and below-average trading volume point to muted moves unless a catalyst produces higher participation.

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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