Quick verdict: BAP vs KEY in 2026

Credicorp Ltd. (BAP) currently holds an overall edge in this 2026 stock comparison, securing 6 wins against KeyCorp’s (KEY) 5 wins in our comprehensive scorecard. While KeyCorp (KEY) demonstrates superior revenue growth momentum and more attractive valuation multiples, Credicorp (BAP) stands out with significantly higher profitability margins, a stronger free cash flow yield, and a substantially higher implied upside based on both analyst price targets and discounted cash flow analysis. Analysts collectively favor KeyCorp with a “Buy” consensus, but BAP presents a more compelling upside potential. Not investment advice.

BAP vs KEY: key metrics side by side

Full side-by-side comparison of BAP and KEY across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-04.

BAP vs KEY valuation comparison

When examining the BAP vs KEY valuation, investors will find distinct characteristics for each financial institution. KeyCorp (KEY) appears to be the cheaper stock based on traditional valuation multiples. Its Price-to-Earnings (P/E) ratio stands at 12.05x, notably lower than Credicorp Ltd.’s (BAP) P/E of 12.94x. This suggests that the market values each dollar of KeyCorp’s earnings at a slightly lower premium compared to Credicorp. Furthermore, KeyCorp’s Price-to-Book (P/B) ratio of 1.17x is significantly more attractive than BAP’s 2.45x, indicating that investors are paying much less for KeyCorp’s assets on a book value basis. These lower multiples could signal a relative value opportunity for KeyCorp in 2026, especially for those prioritizing a lower entry point based on current earnings and assets.

However, a deeper dive into valuation, specifically using a Discounted Cash Flow (DCF) model, reveals a different perspective on BAP vs KEY fundamentals and valuation. Credicorp (BAP) boasts an impressive implied DCF upside of +39.7%, suggesting its intrinsic value is considerably higher than its current share price of $320.13. This indicates strong potential for future appreciation according to this model. In stark contrast, KeyCorp (KEY) exhibits a negative DCF upside of -247.9%, implying that its current market price of $21.635 is significantly above its intrinsic value as per the DCF model. This divergence highlights that while KEY might be cheaper on current earnings and book value, BAP holds a substantial advantage in terms of long-term intrinsic value potential based on its projected future cash flows. Therefore, for investors focused on intrinsic value potential, BAP offers a more compelling long-term valuation proposition despite its higher multiples.

BAP vs KEY growth comparison

In a direct BAP vs KEY growth comparison, KeyCorp (KEY) clearly stands out with superior recent revenue expansion. KeyCorp has reported a year-over-year revenue growth of an impressive +23.6%, demonstrating strong operational momentum and an ability to expand its top line at a rapid pace. This robust growth rate significantly outperforms Credicorp Ltd. (BAP), which recorded a respectable but more modest revenue growth of +7.1% over the same period. For investors prioritizing companies with dynamic expansion and market share gains, KeyCorp’s growth trajectory suggests a more aggressive business strategy or more favorable market conditions in its operating segments.

While KeyCorp shows stronger top-line momentum, it is important to consider this within the context of overall BAP vs KEY fundamentals and valuation. Although BAP’s revenue growth is lower, its profitability margins are substantially higher, as will be discussed in the next section. This suggests that BAP may be focusing on more profitable growth avenues or operating in a less competitive environment, enabling it to convert a larger portion of its revenue into profit. For investors analyzing which stock has stronger momentum in 2026, KeyCorp’s higher revenue growth percentage indicates a company that is currently expanding its business footprint at a faster clip. However, Credicorp’s more measured growth combined with superior margins points to a focus on efficiency and profitable expansion, a crucial aspect for long-term financial health.

BAP vs KEY profitability

When evaluating BAP vs KEY profitability, Credicorp Ltd. (BAP) emerges as the clear leader with significantly stronger margins across the board. BAP boasts an impressive net margin of 24.74%, indicating that nearly a quarter of every dollar in revenue translates directly into profit. This is substantially higher than KeyCorp’s (KEY) net margin of 17.35%. This superior net margin suggests that BAP is more efficient at managing its costs relative to its revenue, or operates in segments with higher inherent profitability. Furthermore, BAP’s EBITDA margin stands at a robust 38.52%, dwarfing KeyCorp’s EBITDA margin of 22.33%. These figures highlight BAP’s ability to generate more operating profit before accounting for non-operating expenses, interest, taxes, depreciation, and amortization.

Both companies have a “N/A%” reported for Return on Equity (ROE), preventing a direct comparison on this specific metric. However, looking at Free Cash Flow (FCF) yield, another critical measure of profitability and cash generation, BAP again shows a slight edge. Credicorp Ltd. has an FCF yield of 9.5%, marginally higher than KeyCorp’s 8.93%. This indicates that BAP generates a slightly greater amount of cash flow relative to its market capitalization, providing more flexibility for debt reduction, share buybacks, or future investments. Overall, for investors seeking a financial institution that consistently generates more cash and demonstrates higher efficiency in converting revenue to profit, Credicorp (BAP) is the more profitable choice, making it a strong contender in any bap vs key stock comparison 2026 focusing on financial strength.

Analyst ratings: BAP vs KEY

The analyst community presents a mixed but insightful perspective in this BAP vs KEY stock comparison 2026. KeyCorp (KEY) appears to be the more favored stock among analysts, with a larger pool of 51 analysts covering it compared to 15 analysts for Credicorp Ltd. (BAP). Of these analysts, 60.8% recommend a “Buy” for KeyCorp, contributing to a strong consensus rating of “Buy.” This indicates a general optimism regarding KEY’s future performance and an expectation for its stock to outperform. KeyCorp’s average analyst target price is $23.33, which suggests a modest upside potential of +7.8% from its current price of $21.635.

Conversely, Credicorp Ltd. (BAP) has a lower percentage of “Buy” ratings at 46.7%, resulting in a consensus rating of “Hold” among its 15 covering analysts. Despite this more cautious consensus, BAP presents a significantly higher implied upside according to analyst price targets. The average target price for BAP is $408, representing a substantial +27.4% upside from its current price of $320.13. This suggests that while fewer analysts are issuing outright “Buy” recommendations for BAP, those who do see a much greater potential for capital appreciation. Therefore, while analysts collectively prefer KEY with more buy ratings and a ‘Buy’ consensus, BAP offers a more attractive price target upside, suggesting that its current valuation may not fully reflect its growth potential.

Should I buy BAP or KEY stock in 2026?

Deciding whether should I buy BAP or KEY stock in 2026 involves weighing different investment priorities. For growth-oriented investors, KeyCorp (KEY) presents a compelling argument. Its remarkable year-over-year revenue growth of +23.6% significantly outpaces Credicorp Ltd.’s (BAP) +7.1%, signaling stronger business momentum and expansion. If your investment strategy prioritizes companies demonstrating rapid top-line expansion and potential for market share gains, KEY’s recent performance suggests it is currently in a more dynamic growth phase, making it potentially more attractive for those seeking accelerated capital appreciation tied to business scaling.

For value investors, the choice between BAP and KEY becomes nuanced. KeyCorp appears cheaper based on traditional valuation multiples, with a lower P/E ratio of 12.05x compared to BAP’s 12.94x, and a much more attractive P/B ratio of 1.17x versus BAP’s 2.45x. These lower multiples suggest that KEY might be undervalued relative to its current earnings and assets. However, Credicorp Ltd. offers a significantly higher implied DCF upside of +39.7%, contrasting sharply with KeyCorp’s negative DCF upside of -247.9%. This suggests that while KEY may seem cheaper on current metrics, BAP could offer a greater margin of safety and long-term intrinsic value potential based on its future cash flow generation, a critical aspect for a deep value approach.

Regarding income, neither BAP nor KEY stands out as a strong dividend play, as both companies offer a modest dividend yield of 0.04%. For investors primarily seeking substantial dividend income, neither stock is likely to meet their objectives. Instead, the decision should hinge on the balance of growth, valuation, and profitability. BAP provides superior profitability margins and higher implied upside, while KEY offers faster revenue growth and lower valuation multiples. Ultimately, the choice depends on your specific investment philosophy and risk tolerance. This is not investment advice; always conduct your own thorough research.

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FAQ: BAP vs KEY