BAP

MKT CAP:$26B

Credicorp Ltd.

Market Cap

$26B

Financial Services·Banks - Regional· Peru·NYSE

Financials·Banks - Regional·NYSE

Stock Price

$323.65+$37.24 (+13.00%)

Apr 24, 2026

Company Details

Credicorp Ltd., a financial service holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. The company's Universal Banking segment offers deposits and current accounts...

CEO

Gianfranco Piero Dario Ferrari de Las Casas

IPO Date

Oct 25, 1995

Website

www.grupocredicorp.com

Key Metrics TTM

Revenue

$7.6B

-1.7% YoY

Net Income

$1.9B

EPS (Diluted)

$23.52

Free Cash Flow

$1.3B

Revenue / Share

$95.68

Gross Margin

71.5%

Operating Margin

36.4%

Net Margin

24.6%

FCF Margin

17.3%

P/S

3.4x

P/E

13.8x

Earnings Reports

Q4 2025

May 14, 2026

PENDING

Q3 2025

Nov 17, 2025

$1.5B-23.0%EPS $6.33

Q2 2025

Aug 18, 2025

$2.1B+8.9%EPS $6.60

Q1 2025

May 19, 2025

$2.0B+5.6%EPS $6.49

Q4 2024

Apr 25, 2025

$1.9B+2.3%EPS $4.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$1.3B	$1.1B	$469M
Q4 21	$1.3B	$1.1B	$452M
Q1 22	$1.3B	$1.0B	$506M
Q2 22	$1.4B	$1.1B	$488M
Q3 22	$1.6B	$1.2B	$559M
Q1 23	$1.7B	$1.2B	$553M
Q2 23	$1.8B	$1.2B	$560M
Q3 23	$1.9B	$1.2B	$498M
Q4 23	$1.9B	$1.0B	$373M
Q1 24	$1.9B	$1.2B	$600M
Q2 24	$2.0B	$1.2B	$546M
Q3 24	$2.0B	$1.3B	$612M
Q4 24	$1.9B	$1.2B	$508M
Q1 25	$2.0B	$1.5B	$730M
Q2 25	$2.1B	$1.6B	$742M
Q3 25	$1.5B	$1.2B	$784M

Valuation

Quarter	P/S	P/E
Q3 21	5.4x	28.0x
Q4 21	5.2x	24.8x
Q1 22	5.1x	21.7x
Q2 22	4.8x	19.6x
Q3 22	4.5x	19.0x
Q1 23	4.2x	17.7x
Q2 23	3.9x	17.0x
Q3 23	3.6x	16.7x
Q4 23	3.5x	18.3x
Q1 24	3.4x	17.8x
Q2 24	3.4x	18.1x
Q3 24	3.3x	17.1x
Q4 24	3.3x	16.2x
Q1 25	3.3x	15.4x
Q2 25	3.2x	14.2x
Q3 25	3.4x	13.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$174M	-$179M
Q4 21	$163M	$143M
Q1 22	-$301M	-$306M
Q2 22	-$145M	-$145M
Q3 22	$345M	$324M
Q1 23	$0	$0
Q2 23	$0	$0
Q3 23	$6M	$6M
Q4 23	$608M	$564M
Q1 24	$0	$0
Q2 24	$0	$0
Q3 24	$0	$0
Q4 24	-$1.3B	-$1.3B
Q1 25	$271M	$247M
Q2 25	$1.8B	$1.7B
Q3 25	$671M	$645M

Capital Expenditures

Quarter	CapEx
Q3 21	$5M
Q4 21	$20M
Q1 22	$5M
Q2 22	$0
Q3 22	$21M
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$44M
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$24M
Q1 25	$24M
Q2 25	$15M
Q3 25	$27M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+7.9%	-28.9%
Q4 21	+10.4%	-10.6%
Q1 22	+14.8%	-4.6%
Q2 22	+20.7%	+10.0%
Q3 22	+25.7%	+29.5%
Q1 23	+31.6%	+36.4%
Q2 23	+38.4%	+55.3%
Q3 23	+34.4%	+51.6%
Q4 23	+16.0%	+42.1%
Q1 24	+8.8%	+9.0%
Q2 24	+7.1%	+11.3%
Q3 24	+5.4%	-0.8%
Q4 24	+2.3%	-6.2%
Q1 25	+5.6%	-1.8%
Q2 25	+8.9%	-1.4%
Q3 25	-23.0%	-45.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$4M	0.3%
Q4 21	$4M	0.3%
Q1 22	$7M	0.5%
Q2 22	$0	0.0%
Q3 22	$6M	0.4%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$6M	0.3%
Q4 23	$6M	0.3%
Q1 24	$0	0.0%
Q2 24	$15M	0.7%
Q3 24	$8M	0.4%
Q4 24	$7M	0.4%
Q1 25	$8M	0.4%
Q2 25	$0	0.0%
Q3 25	$12M	0.8%

OpEx Breakdown

Quarter	G&A	S&M
Q3 21	$500M	$47M
Q4 21	$452M	$22M
Q1 22	$399M	$32M
Q2 22	$405M	$45M
Q3 22	$436M	$50M
Q1 23	$453M	$39M
Q2 23	$463M	$50M
Q3 23	$477M	$50M
Q4 23	$548M	$69M
Q1 24	$490M	$17M
Q2 24	$508M	$39M
Q3 24	$506M	$58M
Q4 24	$605M	$70M
Q1 25	$569M	$25M
Q2 25	$553M	$32M
Q3 25	$688M	$61M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$11.3B	$13.2B	$24.6B
Q2 22	$8.9B	$9.5B	$18.5B
Q3 22	$10.5B	$9.9B	$20.4B
Q4 22	$9.9B	$8.7B	$18.6B
Q1 23	$10.2B	$9.7B	$19.8B
Q2 23	$9.6B	$9.7B	$19.3B
Q3 23	$9.5B	$10.3B	$19.8B
Q4 23	$9.8B	$9.7B	$19.5B
Q1 24	$11.3B	$11.0B	$22.4B
Q2 24	$10.1B	$11.3B	$21.4B
Q3 24	$12.8B	$11.5B	$24.3B
Q4 24	$13.8B	$9.9B	$23.7B
Q1 25	$12.9B	$12.1B	$25.0B
Q2 25	$12.0B	$11.0B	$23.0B
Q3 25	$12.5B	$11.0B	$23.5B
Q4 25	$12.5B	$353M	$12.9B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	80M	-0.1%	+0.1%
Q4 21	80M	+0.1%	+0.4%
Q1 22	80M	-0.2%	+0.0%
Q2 22	80M	+0.2%	+0.0%
Q3 22	80M	-0.2%	-0.1%
Q1 23	80M	-0.0%	-0.2%
Q2 23	80M	+0.2%	+0.2%
Q3 23	80M	-0.3%	-0.3%
Q4 23	79M	-0.1%	-0.2%
Q1 24	79M	+0.1%	-0.1%
Q2 24	79M	-0.2%	-0.6%
Q3 24	79M	+0.2%	-0.1%
Q4 24	80M	+0.3%	+0.3%
Q1 25	79M	-0.4%	-0.1%
Q2 25	80M	+0.7%	+0.8%
Q3 25	79M	-0.6%	+0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$34.8K	37K
Q4 21	$36.5K	36K
Q1 22	$36.6K	36K
Q2 22	$38.6K	36K
Q3 22	$44.4K	36K
Q1 23	$47.3K	37K
Q2 23	$49.8K	37K
Q3 23	$51.1K	37K
Q4 23	$50.4K	37K
Q1 24	$51.3K	37K
Q2 24	$53.2K	37K
Q3 24	$53.7K	37K
Q4 24	$49.5K	39K
Q1 25	$51.9K	39K
Q2 25	$55.5K	39K
Q3 25	$39.6K	39K

Revenue / Employee