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BAP - Credicorp Ltd.

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Credicorp Ltd.

BAP

NYSE

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, and various credits and financial instruments to individuals and legal entities. Its Insurance and Pensions segment issues insurance policies to cover losses in commercial property, transportation, marine vessels, automobile, life, health, and pensions, as well as provides private pension fund management services. The company's Microfinance segment manages loans, credits, deposits, and current accounts of the small and microenterprises. Its Investment Banking and Wealth Management segment offers its services to corporations, institutional investors, governments, and foundations; engages in structuring and placement of issues in the primary market, as well as the execution and negotiation of operations in the secondary market; and structures securitization processes for corporate customers and manages mutual funds. The company was founded in 1889 and is headquartered in Lima, Peru.

201.21 USD

3.21 (1.6%)

Operating Data

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

3.7B

3.93B

4.55B

5.32B

4.95B

5.35B

5.78B

6.24B

6.74B

7.28B

Revenue %

-

6.13

15.74

16.94

-6.84

7.99

7.99

7.99

7.99

Ebitda

-

-

-

2.05B

-

411.66M

444.56M

480.08M

518.44M

559.87M

Ebitda %

-

-

-

38.47

-

7.69

7.69

7.69

7.69

Ebit

-184.29M

-187.99M

-175.21M

1.86B

-

229.44M

247.78M

267.58M

288.96M

312.05M

Ebit %

-4.98

-4.78

-3.85

35.06

-

4.29

4.29

4.29

4.29

Depreciation

184.29M

187.99M

175.21M

181.61M

-

182.22M

196.78M

212.5M

229.48M

247.82M

Depreciation %

4.98

4.78

3.85

3.41

-

3.41

3.41

3.41

3.41

Balance Sheet

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Total Cash

21.64B

20.07B

17.69B

18.14B

5.46B

5.35B

5.78B

6.24B

6.74B

7.28B

Total Cash %

584.37

510.82

388.91

341.05

110.28

100

100

100

100

Receivables

2.75B

3.3B

-

3.4B

-

2.38B

2.57B

2.77B

2.99B

3.23B

Receivables %

74.16

83.96

-

63.98

-

44.42

44.42

44.42

44.42

Inventories

-

-

-

-

-

-

-

-

-

-

Inventories %

-

-

-

-

-

-

-

-

-

Payable

524.54M

798.56M

891.95M

1.09B

992.47M

1.01B

1.09B

1.18B

1.28B

1.38B

Payable %

14.17

20.32

19.61

20.57

20.03

18.94

18.94

18.94

18.94

Cap Ex

-26.71M

-174.24M

-244.02M

-313.39M

-84.43M

-193.88M

-209.37M

-226.1M

-244.16M

-263.67M

Cap Ex %

-0.72

-4.43

-5.37

-5.89

-1.7

-3.62

-3.62

-3.62

-3.62

Weighted Average Cost Of Capital

Price

201.21

Beta

Diluted Shares Outstanding

79.62M

Costof Debt

20.24

Tax Rate

After Tax Cost Of Debt

14.23

Risk Free Rate

Market Risk Premium

Cost Of Equity

Total Debt

7.74B

Total Equity

16.02B

Total Capital

23.76B

Debt Weighting

32.57

Equity Weighting

67.43

Wacc

10.6

Build Up Free Cash Flow

Year

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

Revenue

3.7B

3.93B

4.55B

5.32B

4.95B

5.35B

5.78B

6.24B

6.74B

7.28B

Ebitda

-

-

-

2.05B

-

411.66M

444.56M

480.08M

518.44M

559.87M

Ebit

-184.29M

-187.99M

-175.21M

1.86B

-

229.44M

247.78M

267.58M

288.96M

312.05M

Tax Rate

29.69

29.69

29.69

29.69

29.69

29.69

29.69

29.69

29.69

29.69

Ebiat

-285.19M

-126.36M

-118.53M

1.32B

-

172.64M

186.44M

201.34M

217.42M

234.8M

Depreciation

184.29M

187.99M

175.21M

181.61M

-

182.22M

196.78M

212.5M

229.48M

247.82M

Receivables

2.75B

3.3B

-

3.4B

-

2.38B

2.57B

2.77B

2.99B

3.23B

Inventories

-

-

-

-

-

-

-

-

-

-

Payable

524.54M

798.56M

891.95M

1.09B

992.47M

1.01B

1.09B

1.18B

1.28B

1.38B

Cap Ex

-26.71M

-174.24M

-244.02M

-313.39M

-84.43M

-193.88M

-209.37M

-226.1M

-244.16M

-263.67M

Ufcf

-2.35B

-392.08M

3.21B

-2.01B

3.22B

-2.19B

64.92M

70.11M

75.71M

81.76M

Wacc

10.6

10.6

10.6

10.6

10.6

Pv Ufcf

-1.98B

53.07M

51.82M

50.6M

49.4M

Sum Pv Ufcf

-1.78B

Terminal Value

Growth In Perpetuity Method

Long Term Growth Rate

Wacc

10.6

Free Cash Flow T1

83.4M

Terminal Value

969.49M

Present Terminal Value

585.77M

Intrinsic Value

Enterprise Value

-1.19B

Net Debt

-5.19B

Equity Value

4B

Diluted Shares Outstanding

79.62M

Equity Value Per Share

50.24

Projected DCF

50.24 -3.005%

DCF Levered

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