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Bicecorp S.A. (BICE) Fair Value & Analysis

Financial Services · CL · Market cap 3.8T CLP (≈ $4.2B)

What is Bicecorp S.A. really worth?

BS Bicecorp S.A. BICE · SN
Price401.99 CLP
Fair Value261.70 CLP
Upside−34.9%
Quality30/100

Below-average quality, and trading another 54% above our fair value of 261.70 CLP.

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Risks

!Mixed Growth (revenue 3y +21.6 %/yr)
!Thin margins · 5.9% net margin
!High debt · generates free cash flow
!Mixed vs. peers (6/14)
!Narrow moat 43/100
!Evidence only low, so the estimate is less certain
Evidence: Low Range 196.27 CLP – 327.12 CLP

Fair value as of: Aug 28, 2026

From 12 valuation models · updated 8 days ago

Share price +0.7% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case (327.12 CLP). The favourable scenario is already priced in.
  • Weak quality (30/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Price vs Fair Value (5 years)

422.46 CLP 71.77 CLP Fair Value 261.70 CLP Jul 2015 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.

How to read this chart

60‑month range 71.77 CLP – 422.46 CLP · fair‑value band 196.27 CLP – 327.12 CLP · the 401.99 CLP price screens above the 261.70 CLP fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 28, 2026.

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Analysis

Bicecorp S.A. (BICE) currently trades at 401.99 CLP, while our model-based Fair Value estimate is 261.70 CLP, implying the stock looks roughly 53.6% overvalued today. The Quality Score stands at 30/100 (below-average quality), in the Financial Services sector. Bull case: the Earnings-Based group reads highest at a median of 509.10 CLP per share, and 4 of the 12 models we run sit above the 401.99 CLP price. Bear case: the Asset-Based group reads lowest at 162.61 CLP, and 8 of the 12 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Bicecorp S.A. generated revenue of 4.2T CLP at a net margin of 5.9%. Revenue grew 16.8% year over year. It earns a return on equity of 10.7%. Net debt stands at 5.8T CLP. Fundamentals as of Aug 28, 2026

Our scenario range runs from 196.27 CLP (bear case) to 327.12 CLP (bull case); at 401.99 CLP, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −27% fair-value upside, at −35%, BICE screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly 18.70 CLP per share, which is 7.1 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income best evidence 208.91 CLP 226.69 CLP 280.36 CLP 73
Rev-Margin DCF 321.55 CLP 966.43 CLP 66
5Y P/E Exit 184.09 CLP 562.03 CLP 65
All 12 models by family
DCF Models
5Y P/E Exit 184.09 CLP 562.03 CLP 65
10Y P/E Exit 292.92 CLP 813.21 CLP 58
Earnings-Based
Graham-Dodd 136.89 CLP 954.63 CLP 1,340 CLP 60
Lynch FV 356.37 CLP 509.10 CLP 661.83 CLP 58
Dividend Discount
Gordon GGM 192.93 CLP 421.20 CLP 708.69 CLP 63
DDM Multi-Stage 192.93 CLP 345.03 CLP 438.96 CLP 64
Multiples
P/E Multiple 196.27 CLP 261.70 CLP 327.12 CLP 63
P/B Multiple 254.84 CLP 339.79 CLP 424.74 CLP 55
Asset-Based
NCAV (Graham) 121.35 CLP 162.61 CLP 242.71 CLP 54
Growth DCF
Growth DCF 76.22 CLP 501.08 CLP 1,397 CLP 64
Rev-Margin DCF 321.55 CLP 966.43 CLP 66
Economic Profit
Residual Income best evidence 208.91 CLP 226.69 CLP 280.36 CLP 73

Widest divergence: Earnings-Based (509.10 CLP) versus Asset-Based (162.61 CLP). Highest evidence: Residual Income (73).

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Key figures & financial health

P/E ratio 14.6
P/S ratio 0.74 P/E × margin
EPS (TTM) 27.52 CLP price ÷ EPS = P/E 14.6
Dividend yield 5.3% payout 77.6%
Net margin 5.0% FY2025
Return on equity 10.7% TTM
More key figures
Profitability
Return on assets (EBIT) 1.2% avg 4y
Operating margin 12.8% TTM
Growth
Revenue (TTM) 4.2T CLP TTM
Revenue growth (YoY) +16.8% 3y avg +21.6%
EPS growth (YoY) +22.8%
Balance sheet & cash flow
Free cash flow 275B CLP FY2025
Net debt 5.8T CLP FY2025 · ≈ 21.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 30/100

Of which business quality 31 · Market factors (momentum, volatility) 78

Profitability 19
Margins and returns on capital today
Quality Growth 62
Are margins and returns improving?
Cashflow 39
Earnings quality: real cash, not paper profit
Fin. Strength 15
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 62
Price trend over the last 3–12 months (market factor)
52W Momentum 86
Distance to the 52-week high (market factor)
Net Issuance 27
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Bicecorp S.A. provides various financial products and services in Chile. The company provides personal and corporate banking services, treasury services, deposit collections, checking accounts, credit and debit cards, financing for foreign trade activities, working capital and project financing, leasing operation services, document discounting, mortgage and …

Full company description

Bicecorp S.A. provides various financial products and services in Chile. The company provides personal and corporate banking services, treasury services, deposit collections, checking accounts, credit and debit cards, financing for foreign trade activities, working capital and project financing, leasing operation services, document discounting, mortgage and consumer loans, consumer loans, cash management, structuring of syndicated loans, and products and services related to investments and savings. It offers insurance products, including private and pension insurance, individual insurance, group life, health and tax relief insurance, mass insurance, and AFP insurance products. In addition, the company factoring, mortgage mutual funds, automotive financing and leasing, non-bank factoring, securitization, investment banking, and real estate asset management services. The company was incorporated in 1978 and is based in Las Condes, Chile.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2025 · reported fiscal years

Bicecorp S.A. reported revenue of 4.1T CLP in FY2025 versus 2.3T CLP in FY2022, a compound +21.6%/yr. Reported net income was 205B CLP in FY2025, compounding −2.6%/yr from FY2022.

Growth Quality 73/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
4.1T CLP
Latest YoY
+79.1%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+21.6%
Value creation/yr (3Y, in CLP) Earnings growth per share (CAGR 3 years) plus dividend yield: value created per share and year. Measured in CLP: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−0.1% (−5.4 + 5.3)
Revenue +21.6%/yr
FY22 2.3T CLP
FY23 2.2T CLP
FY24 2.3T CLP
FY25 4.1T CLP
Net income −2.6%/yr
FY22 222B CLP
FY23 224B CLP
FY24 199B CLP
FY25 205B CLP

BICE screens 54% overvalued. Compare with ORIX Corporation →

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Cite: Fair Value Calculator (2026). "Bicecorp S.A. Fair Value". https://www.fairvalue-calculator.com/stock/BICE

Peer Group

Financial Conglomerates · 55 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 32 · Bottom 25%
Fair Value upside −35% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 1% · Below median
Net margin (TTM) 6% · Bottom 25%
Operating margin (TTM) 13% · Below median
Revenue growth 17% · Above median
Dividend yield (TTM) 5.3% · Top 25%
Debt / equity 2.22× · Higher than 75% of peers

Valuation Multiples vs Financial Conglomerates median · lower = cheaper

P/E (TTM) 14.6× · Cheaper than median
P/B 1.56× · Pricier than median
P/S (TTM) 0.91× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers
EV/EBITDA 19.4× · Pricier than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE84 · sector 39
PAST43 · sector 33
HEALTH0 · sector 84
DIVIDEND100 · sector 52

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Financial Conglomerates stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).

Stock Price Fair Value vs Fair Value
ORIX Corporation IX $39.73 $35.47 −11%
Bajaj Finserv Ltd BAJAJFINSV ₹2,029 ₹796.96 −61%
China Galaxy Securities Co 601881 ¥12.36 ¥11.34 −8%
Guosen Securities Co 002736 ¥10.24 ¥10.84 +6%
CNPC Capital Company 000617 ¥6.96 ¥6.99 +0%
Aditya Birla Capital Limited ABCAPITAL ₹410.95 ₹119.98 −71%
Freedom Holding FRHC $171.87 $31.31 −82%
Voya Financial, Inc VOYA $99.49 $62.37 −37%
Storebrand ASA STB kr 200.40 kr 46.42 −77%
Guangzhou Yuexiu Capital Holdings 000987 ¥7.65 ¥5.62 −27%

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Frequently asked questions

Is Bicecorp S.A. (BICE) overvalued or undervalued?
As of Aug 28, 2026, our model estimates a fair value of 261.70 CLP versus a price of 401.99 CLP, about −35% upside (overvalued).
What is the fair value of BICE?
Our model-based fair value for Bicecorp S.A. is 261.70 CLP (as of Aug 28, 2026), built from audited fundamentals. The current price: 401.99 CLP.
What is the quality score of BICE?
Bicecorp S.A. has a Quality Score of 30/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Bicecorp S.A. (BICE)?
Bicecorp S.A. reported trailing-twelve-month revenue of about 4.2T CLP (latest available figure, as of Aug 28, 2026).
What is the net profit margin of BICE?
The net profit margin of Bicecorp S.A. is about 5.9%, meaning it keeps roughly 5.9% of revenue as net income. Based on the latest reported figures.
Does Bicecorp S.A. pay a dividend?
Bicecorp S.A. currently shows a dividend yield of about 5.31% relative to its recent price (as of Aug 28, 2026).
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