-0.19 | -0.16%
CREDICORP LTD's gross profit margin for the first quarter of its fiscal year 2012 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.
During the same period, stockholders' equity ("net worth") has increased by 24.75% from the same quarter last year.
| Income Statement | Q1 FY12 | Q1 FY11 |
|---|---|---|
| Net Sales ($mil) | 812.56 | 687.96 |
| EBITDA ($mil) | 425.03 | 390.08 |
| EBIT ($mil) | 396.76 | 366.94 |
| Net Income ($mil) | 189.11 | 175.03 |
| Balance Sheet | Q1 FY12 | Q1 FY11 |
|---|---|---|
| Cash & Equiv. ($mil) | 6307.61 | 7058.14 |
| Total Assets ($mil) | 34161.02 | 29335.58 |
| Total Debt ($mil) | 6424.34 | 5910.15 |
| Equity ($mil) | 3493.75 | 2800.59 |
| Profitability | Q1 FY12 | Q1 FY11 |
|---|---|---|
| Gross Profit Margin | 72.67 | 76.38 |
| EBITDA Margin | 52.31 | 56.7 |
| Operating Margin | 48.83 | 53.34 |
| Sales Turnover | 0.09 | 0.09 |
| Return on Assets | 2.12 | 2.12 |
| Return on Equity | 20.7 | 22.23 |
| Debt | Q1 FY12 | Q1 FY11 |
|---|---|---|
| Current Ratio | 0.0 | 0.0 |
| Debt/Capital | 0.65 | 0.68 |
| Interest Expense | 0.0 | 0.0 |
| Interest Coverage | 0.0 | 0.0 |
| Share Data | Q1 FY12 | Q1 FY11 |
|---|---|---|
| Shares outstanding (mil) | 79.76 | 79.76 |
| Div / share | 0.0 | 0.0 |
| EPS | 2.37 | 2.19 |
| Book value / share | 43.8 | 35.11 |
| Institutional Own % | n/a | n/a |
| Avg Daily Volume | 261517.0 | 256585.0 |
BUY. The current P/E ratio indicates a premium compared to an average of 10.18 for the Commercial Banks industry and a value on par with the S&P 500 average of 15.19. To use another comparison, its price-to-book ratio of 2.75 indicates a premium versus the S&P 500 average of 2.12 and a significant premium versus the industry average of 1.24. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, CREDICORP LTD proves to trade at a premium to investment alternatives within the industry.
| Price/Earnings |
|
Price/Cash Flow |
| |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BAP 13.27 | Peers 10.18 | BAP NA | Peers 8.78 | |||||||||||||||||||||
|
Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations. BAP is trading at a significant premium to its peers. |
Neutral. The P/CF ratio is the stock’s price divided by the sum of the company's cash flow from operations. It is useful for comparing companies with different capital requirements or financing structures. Ratio not available. |
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| Price/Projected Earnings |
|
Price to Earnings/Growth |
|
|||||||||||||||||||||
| BAP 10.36 | Peers 8.39 | BAP NA | Peers 0.00 | |||||||||||||||||||||
|
Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations. BAP is trading at a significant premium to its peers. |
Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples. Ratio not available. |
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| Price/Book |
|
Earnings Growth |
|
|||||||||||||||||||||
| BAP 2.75 | Peers 1.24 | BAP 16.13 | Peers -10.36 | |||||||||||||||||||||
|
Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet. BAP is trading at a significant premium to its peers. |
Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios. BAP is expected to have an earnings growth rate that significantly exceeds its peers. |
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| Price/Sales |
|
Sales Growth |
|
|||||||||||||||||||||
| BAP 3.19 | Peers 1.96 | BAP 15.55 | Peers -1.76 | |||||||||||||||||||||
|
Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales. BAP is trading at a significant premium to its industry. |
Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share. BAP has a sales growth rate that significantly exceeds its peers. |
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