BAP
Credicorp Ltd.
Banks - Regional
Market Cap$25.92B
5Y Perf.+136.9%
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Stock Comparison
BAP vs BSBR
Revenue, margins, valuation, and 5-year total return — side by side.
BSBR
Banco Santander (Brasil) S.A.
Banks - Regional
Market Cap$44.79B
5Y Perf.+32.9%
BAP vs BSBR — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | BAP | BSBR |
|---|---|---|
| Industry | Banks - Regional | Banks - Regional |
| Market Cap | $25.92B | $44.79B |
| Revenue (TTM) | $27.00B | $151.54B |
| Net Income (TTM) | $6.47B | $12.69B |
| Gross Margin | 64.2% | 27.5% |
| Operating Margin | 29.0% | 11.0% |
| Forward P/E | 3.4x | 6.7x |
| Total Debt | $37.49B | $129.96B |
| Cash & Equiv. | $47.51B | $201.98B |
BAP vs BSBR — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
BAP
BSBR
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Credicorp Ltd. (BAP) | 100 | 236.9 | +136.9% |
| Banco Santander (Br… (BSBR) | 100 | 132.9 | +32.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: BAP vs BSBR
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: BAP leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and capital preservation and lower volatility. Banco Santander (Brasil) S.A. is the stronger pick specifically for growth and revenue expansion and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
BAP
Credicorp Ltd.
The Banking Pick
BAP carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- Dividend streak 3 yrs, beta 0.81, yield 4.0%
- 179.8% 10Y total return vs BSBR's 105.9%
- Lower volatility, beta 0.81, current ratio 0.53x
Best for: income & stability and long-term compounding
BSBR
Banco Santander (Brasil) S.A.
The Banking Pick
BSBR is the clearest fit if your priority is growth exposure.
- Rev growth 17.5%, EPS growth 87.4%
- 17.5% NII/revenue growth vs BAP's 6.4%
- Efficiency ratio 0.2% vs BAP's 0.4% (lower = leaner)
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | BSBR | 17.5% NII/revenue growth vs BAP's 6.4% |
| Value | BAP | Lower P/E (3.4x vs 6.7x) |
| Quality / Margins | BSBR | Efficiency ratio 0.2% vs BAP's 0.4% (lower = leaner) |
| Stability / Safety | BAP | Beta 0.81 vs BSBR's 1.11 |
| Dividends | BAP | 4.0% yield, 3-year raise streak, vs BSBR's 5.8% |
| Momentum (1Y) | BAP | +67.2% vs BSBR's +26.7% |
| Efficiency (ROA) | BSBR | Efficiency ratio 0.2% vs BAP's 0.4% |
BAP vs BSBR — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLBAPLAGGINGBSBR
BSBRBanco Santander (Bras…
0leads
BAPCredicorp Ltd.
4leads
6 Total Categories
CATEGORYLEADERvs BSBRMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
BAP5/5
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
BAP7/9
Total Returns1Y, 3Y, 5Y total returns with dividends
BAP6/6
Risk & VolatilityBeta, volatility, and downside exposure
BAP2/2
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
BAP leads this category, winning 5 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
BSBR is the larger business by revenue, generating $151.5B annually — 5.6x BAP's $27.0B. BAP is the more profitable business, keeping 20.4% of every revenue dollar as net income compared to BSBR's 8.4%.
| Metric | BAPCredicorp Ltd. | BSBRBanco Santander (… |
|---|---|---|
| RevenueTrailing 12 months | $27.0B | $151.5B |
| EBITDAEarnings before interest/tax | $10.4B | $18.5B |
| Net IncomeAfter-tax profit | $6.5B | $12.7B |
| Free Cash FlowCash after capex | $4.6B | $5.5B |
| Gross MarginGross profit ÷ Revenue | +64.2% | +27.5% |
| Operating MarginEBIT ÷ Revenue | +29.0% | +11.0% |
| Net MarginNet income ÷ Revenue | +20.4% | +8.4% |
| FCF MarginFCF ÷ Revenue | +49.7% | +0.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +14.1% | -37.3% |
BAP leads this category, winning 5 of 5 comparable metrics.
Valuation Metrics
Evenly matched — BAP and BSBR each lead in 3 of 6 comparable metrics.
Valuation Metrics
At 16.5x trailing earnings, BAP trades at a 9% valuation discount to BSBR's 18.1x P/E. On an enterprise value basis, BSBR's 7.7x EV/EBITDA is more attractive than BAP's 9.4x.
| Metric | BAPCredicorp Ltd. | BSBRBanco Santander (… |
|---|---|---|
| Market CapShares × price | $25.9B | $44.8B |
| Enterprise ValueMkt cap + debt − cash | $23.0B | $30.2B |
| Trailing P/EPrice ÷ TTM EPS | 16.48x | 18.12x |
| Forward P/EPrice ÷ next-FY EPS est. | 3.42x | 6.69x |
| PEG RatioP/E ÷ EPS growth rate | 3.15x | — |
| EV / EBITDAEnterprise value multiple | 9.40x | 7.71x |
| Price / SalesMarket cap ÷ Revenue | 3.35x | 1.46x |
| Price / BookPrice ÷ Book value/share | 2.59x | 0.89x |
| Price / FCFMarket cap ÷ FCF | 6.74x | 165.52x |
Evenly matched — BAP and BSBR each lead in 3 of 6 comparable metrics.
Profitability & Efficiency
BAP leads this category, winning 7 of 9 comparable metrics.
Profitability & Efficiency
BAP delivers a 17.4% return on equity — every $100 of shareholder capital generates $17 in annual profit, vs $10 for BSBR. BSBR carries lower financial leverage with a 1.03x debt-to-equity ratio, signaling a more conservative balance sheet compared to BAP's 1.07x. On the Piotroski fundamental quality scale (0–9), BAP scores 8/9 vs BSBR's 5/9, reflecting strong financial health.
| Metric | BAPCredicorp Ltd. | BSBRBanco Santander (… |
|---|---|---|
| ROE (TTM)Return on equity | +17.4% | +10.2% |
| ROA (TTM)Return on assets | +2.5% | +1.0% |
| ROICReturn on invested capital | +8.2% | +4.9% |
| ROCEReturn on capital employed | +10.1% | +3.7% |
| Piotroski ScoreFundamental quality 0–9 | 8 | 5 |
| Debt / EquityFinancial leverage | 1.07x | 1.03x |
| Net DebtTotal debt minus cash | -$10.0B | -$72.0B |
| Cash & Equiv.Liquid assets | $47.5B | $202.0B |
| Total DebtShort + long-term debt | $37.5B | $130.0B |
| Interest CoverageEBIT ÷ Interest expense | 1.99x | 0.16x |
BAP leads this category, winning 7 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
BAP leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in BAP five years ago would be worth $30,993 today (with dividends reinvested), compared to $11,321 for BSBR. Over the past 12 months, BAP leads with a +67.2% total return vs BSBR's +26.7%. The 3-year compound annual growth rate (CAGR) favors BAP at 34.3% vs BSBR's 6.9% — a key indicator of consistent wealth creation.
| Metric | BAPCredicorp Ltd. | BSBRBanco Santander (… |
|---|---|---|
| YTD ReturnYear-to-date | +14.0% | -0.4% |
| 1-Year ReturnPast 12 months | +67.2% | +26.7% |
| 3-Year ReturnCumulative with dividends | +142.4% | +22.2% |
| 5-Year ReturnCumulative with dividends | +209.9% | +13.2% |
| 10-Year ReturnCumulative with dividends | +179.8% | +105.9% |
| CAGR (3Y)Annualised 3-year return | +34.3% | +6.9% |
BAP leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
BAP leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
BAP is the less volatile stock with a 0.81 beta — it tends to amplify market swings less than BSBR's 1.11 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. BAP currently trades 85.9% from its 52-week high vs BSBR's 81.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | BAPCredicorp Ltd. | BSBRBanco Santander (… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.81x | 1.11x |
| 52-Week HighHighest price in past year | $380.20 | $7.32 |
| 52-Week LowLowest price in past year | $193.13 | $4.62 |
| % of 52W HighCurrent price vs 52-week peak | +85.9% | +81.7% |
| RSI (14)Momentum oscillator 0–100 | 42.3 | 42.0 |
| Avg Volume (50D)Average daily shares traded | 363K | 964K |
BAP leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Evenly matched — BAP and BSBR each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates BAP as "Hold" and BSBR as "Buy". Consensus price targets imply 24.9% upside for BAP (target: $408) vs 20.4% for BSBR (target: $7). For income investors, BSBR offers the higher dividend yield at 5.78% vs BAP's 4.04%.
| Metric | BAPCredicorp Ltd. | BSBRBanco Santander (… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Buy |
| Price TargetConsensus 12-month target | $408.00 | $7.20 |
| # AnalystsCovering analysts | 15 | 11 |
| Dividend YieldAnnual dividend ÷ price | +4.0% | +5.8% |
| Dividend StreakConsecutive years of raises | 3 | 2 |
| Dividend / ShareAnnual DPS | $46.03 | $1.71 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | 0.0% |
Evenly matched — BAP and BSBR each lead in 1 of 2 comparable metrics.
Key Takeaway
BAP leads in 4 of 6 categories — strongest in Income & Cash Flow and Profitability & Efficiency. 2 categories are tied.
Best OverallCredicorp Ltd. (BAP)Leads 4 of 6 categories
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BAP vs BSBR: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is BAP or BSBR a better buy right now?
For growth investors, Banco Santander (Brasil) S.
A. (BSBR) is the stronger pick with 17. 5% revenue growth year-over-year, versus 6. 4% for Credicorp Ltd. (BAP). Credicorp Ltd. (BAP) offers the better valuation at 16. 5x trailing P/E (3. 4x forward), making it the more compelling value choice. Analysts rate Banco Santander (Brasil) S. A. (BSBR) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — BAP or BSBR?
On trailing P/E, Credicorp Ltd.
(BAP) is the cheapest at 16. 5x versus Banco Santander (Brasil) S. A. at 18. 1x. On forward P/E, Credicorp Ltd. is actually cheaper at 3. 4x.
03Which is the better long-term investment — BAP or BSBR?
Over the past 5 years, Credicorp Ltd.
(BAP) delivered a total return of +209. 9%, compared to +13. 2% for Banco Santander (Brasil) S. A. (BSBR). Over 10 years, the gap is even starker: BAP returned +179. 8% versus BSBR's +105. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — BAP or BSBR?
By beta (market sensitivity over 5 years), Credicorp Ltd.
(BAP) is the lower-risk stock at 0. 81β versus Banco Santander (Brasil) S. A. 's 1. 11β — meaning BSBR is approximately 37% more volatile than BAP relative to the S&P 500. On balance sheet safety, Banco Santander (Brasil) S. A. (BSBR) carries a lower debt/equity ratio of 103% versus 107% for Credicorp Ltd. — giving it more financial flexibility in a downturn.
05Which is growing faster — BAP or BSBR?
By revenue growth (latest reported year), Banco Santander (Brasil) S.
A. (BSBR) is pulling ahead at 17. 5% versus 6. 4% for Credicorp Ltd. (BAP). On earnings-per-share growth, the picture is similar: Banco Santander (Brasil) S. A. grew EPS 87. 4% year-over-year, compared to 13. 1% for Credicorp Ltd.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — BAP or BSBR?
Credicorp Ltd.
(BAP) is the more profitable company, earning 20. 4% net margin versus 8. 4% for Banco Santander (Brasil) S. A. — meaning it keeps 20. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BAP leads at 29. 0% versus 11. 0% for BSBR. At the gross margin level — before operating expenses — BAP leads at 64. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is BAP or BSBR more undervalued right now?
On forward earnings alone, Credicorp Ltd.
(BAP) trades at 3. 4x forward P/E versus 6. 7x for Banco Santander (Brasil) S. A. — 3. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for BAP: 24. 9% to $408. 00.
08Which pays a better dividend — BAP or BSBR?
All stocks in this comparison pay dividends.
Banco Santander (Brasil) S. A. (BSBR) offers the highest yield at 5. 8%, versus 4. 0% for Credicorp Ltd. (BAP).
09Is BAP or BSBR better for a retirement portfolio?
For long-horizon retirement investors, Credicorp Ltd.
(BAP) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 81), 4. 0% yield, +179. 8% 10Y return). Both have compounded well over 10 years (BAP: +179. 8%, BSBR: +105. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between BAP and BSBR?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: BAP is a mid-cap deep-value stock; BSBR is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(BAP: 6.4% · BSBR: 17.5%)Net Margin>
%
(BAP: 20.4% · BSBR: 8.4%)P/E Ratio<
x
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