Credicorp Ltd. (NYSE:BAP) Strengthens Momentum While Fundamentals Signal Caution

Credicorp shows near-term technical momentum while core fundamentals reflect recent contraction; valuation sits at fair value by WMDST with mixed forward signals.

Recent News

March 31, 2026: Credicorp held its Annual General Meeting virtually, with documentation published in advance. Late February 2026: the company announced director nominees for the 2026 AGM. February 13, 2026: the company set a shareholder record date for certain corporate actions. Mid-March 2026: a Solactive index adjustment listed Credicorp effective March 16, 2026. The company published its 2026 schedule for quarterly results and conference calls in December 2025 (schedule reiterated into 2026).

Technical Analysis

ADX at 10.89 indicates no established trend; this lack of directional strength reduces conviction that short-term momentum will extend into a strong directional move and tempers the immediate impact of price-based signals on valuation.

Directional indicators diverge: DI+ shows a dip-and-reversal, which signals bullish pressure, while DI- increases, signaling rising downside pressure; this split suggests a tug-of-war between buyers and sellers that could leave price action range-bound until one side decisively wins.

MACD sits at -0.16 with a recent dip-and-reversal and now trades above its signal line (-1.29); the MACD crossing above its signal line constitutes a bullish momentum signal even though the MACD value remains slightly negative, implying momentum improvement rather than dominant bullish strength.

MRO at 2.85 remains positive, indicating price currently sits above the model target and therefore carries mild downward pressure toward mean reversion; the recent dip-and-reversal in MRO reduces the immediacy of that pressure but does not remove it.

RSI at 54.42 with a dip-and-reversal places momentum in neutral-to-mildly bullish territory; RSI neither confirms overbought conditions nor signals a clear breakout, supporting a view of controlled upside rather than runaway strength.

Price sits above the 200-day average ($280.62) and above the 20-day average ($331.43) while trading just below the 50-day average ($342.22); the 12- and 26-day EMAs (≈$334.48 and $334.46) lie beneath the close ($337.44) and show a dip-and-reversal, reinforcing short-term upward bias but with resistance near the 50-day average and the super trend upper band at $346.17.

 


Fundamental Analysis

Earnings: EPS came in at $5.93 versus an estimate of $6.45, a miss of $0.52 and an EPS surprise of -8.06%. Reported earnings growth stands at -8.35% overall; quarter-over-quarter earnings growth shows -9.92% and year-over-year earnings growth reads -68.49%, indicating material recent pressure on profitability that factors into valuation.

Revenue: reported revenue growth stands near 0.59% on the headline metric, with revenue year-over-year at -38.49%. Quarter-over-quarter revenue change shows 0.0%, signaling flat short-term top-line performance while annual comparisons reveal significant contraction.

Valuation multiples: trailing PE equals 52.10, which sits below the industry peer mean of 61.57 and below the industry peer median of 61.87 yet within the industry peer range (low 37.24–high 87.92). Forward PE stands at 33.21, below the industry peer mean for forward PE (≈45.38), implying forward earnings expectations reduce multiple pressure versus the trailing metric. PEG sits at -6.24 versus the industry peer mean of -3.60 (industry peer range low -8.69 to high 16.01), reflecting negative near-term earnings growth dynamics embedded in the ratio.

Cash and capital: invested capital shows $-60,612,382,000 (negative on the ledger), cash-flow-to-earnings conversion equals 0%, and cost of debt sits at 3.95%, indicating funding costs remain modest even as cash conversion shows no cushion to profits.

Forward outlook: forward EPS equals $8.08 and forward PE equals 33.21, implying analysts (or consensus inputs) expect earnings improvement; WMDST currently values the stock as fair-valued, reflecting the balance between elevated trailing multiples, depressed recent growth metrics, and improved forward-earnings expectations.

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: 6.191 %
median: 3.449 %
mean: 2.827 %
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

Near term, price tilts toward controlled upside driven by EMA/RSI and a MACD cross — but ADX indicates no strong trend, and the positive MRO warns of mean reversion risk. Expect consolidation between the 20-day/50-day average band and the super trend upper line; momentum breakout above the 50-day average would increase the probability of extending gains, while renewed DI- strength or a declining MACD would reassert downside pressure. Swing traders should favor setups that reference confirmation from MACD and DI+/DI- alignment rather than relying on single-indicator signals.

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.



© 2026 WMDST — The World’s Most Dangerous Swing Trader. All rights reserved.