(KEP) Korea Electric Power - Overview
Stock: Electricity, Transmission, Distribution, Generation, Engineering
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 40.7% |
| Relative Tail Risk | -8.15% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 2.34 |
| Alpha | 187.39 |
| Character TTM | |
|---|---|
| Beta | 0.347 |
| Beta Downside | 0.088 |
| Drawdowns 3y | |
|---|---|
| Max DD | 28.90% |
| CAGR/Max DD | 1.49 |
Description: KEP Korea Electric Power January 03, 2026
Korea Electric Power Corporation (KEP) is South Korea’s largest integrated utility, covering generation, transmission, and distribution of electricity domestically and abroad. Its business is organized into Transmission & Distribution, Nuclear Power Generation, Thermal Power Generation, and ancillary services.
As of 31 Dec 2024, KEP operated 848 generation units with a combined capacity of 85,424 MW, and managed a transmission network of 35,856 km of 765-kV lines plus HVDC corridors, supported by 925 substations (368,758 MVA transformer capacity). The distribution system spans 547,850 km of lines and 148,176 MVA of transformer capacity, serving residential, commercial, industrial, and public-sector customers.
Beyond power supply, KEP provides engineering, construction, and maintenance services for utility plants, operates nuclear fuel and fly-ash recycling businesses, and is expanding into renewable-fuel ventures such as wood-pellet and biogas projects.
Key recent metrics: 2023 net profit was KRW 1.4 trillion, and the debt-to-equity ratio stood at roughly 1.2×, reflecting the capital-intensive nature of the sector. Renewable capacity grew 12 % YoY in 2023, driven by government incentives for solar and offshore wind as South Korea pursues its 2030 carbon-neutrality pledge.
Sector drivers include the Korean governments electricity price reform slated for 2025, which could improve KEP’s margin outlook, and the regional push for grid-scale storage to balance increasing renewable penetration.
For a deeper quantitative view of KEP’s valuation metrics, see the ValueRay analysis.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 8303.19b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 1.34 > 1.0 |
| NWC/Revenue: -34.98% < 20% (prev -43.30%; Δ 8.31% < -1%) |
| CFO/TA 0.13 > 3% & CFO 31739.85b > Net Income 8303.19b |
| Net Debt (20631.49b) to EBITDA (29674.71b): 0.70 < 3 |
| Current Ratio: 0.48 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.28b) vs 12m ago 0.0% < -2% |
| Gross Margin: 19.75% > 18% (prev 0.12%; Δ 1963 % > 0.5%) |
| Asset Turnover: 39.35% > 50% (prev 37.90%; Δ 1.45% > 0%) |
| Interest Coverage Ratio: 4.58 > 6 (EBITDA TTM 29674.71b / Interest Expense TTM 3454.19b) |
Altman Z'' 0.04
| A: -0.14 (Total Current Assets 31866.85b - Total Current Liabilities 66067.66b) / Total Assets 253091.54b |
| B: 0.11 (Retained Earnings 27107.31b / Total Assets 253091.54b) |
| C: 0.06 (EBIT TTM 15816.75b / Avg Total Assets 248446.49b) |
| D: 0.15 (Book Value of Equity 30317.12b / Total Liabilities 206538.02b) |
| Altman-Z'' Score: 0.04 = B |
Beneish M -3.44
| DSRI: 0.95 (Receivables 11081.38b/11052.20b, Revenue 97766.66b/92402.42b) |
| GMI: 0.60 (GM 19.75% / 11.94%) |
| AQI: 1.07 (AQ_t 0.14 / AQ_t-1 0.13) |
| SGI: 1.06 (Revenue 97766.66b / 92402.42b) |
| TATA: -0.09 (NI 8303.19b - CFO 31739.85b) / TA 253091.54b) |
| Beneish M-Score: -3.44 (Cap -4..+1) = AA |
What is the price of KEP shares?
Over the past week, the price has changed by +6.68%, over one month by +20.45%, over three months by +35.96% and over the past year by +195.90%.
Is KEP a buy, sell or hold?
What are the forecasts/targets for the KEP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 20 | -7.2% |
| Analysts Target Price | 20 | -7.2% |
| ValueRay Target Price | 23.7 | 9.8% |
KEP Fundamental Data Overview February 03, 2026
P/E Trailing = 4.7778
P/E Forward = 18.1488
P/S = 0.0003
P/B = 0.8463
Revenue TTM = 97766.66b KRW
EBIT TTM = 15816.75b KRW
EBITDA TTM = 29674.71b KRW
Long Term Debt = 84699.49b KRW (from longTermDebt, last quarter)
Short Term Debt = 10988.35b KRW (from shortTermDebt, last quarter)
Debt = 24358.84b KRW (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 20631.49b KRW (from netDebt column, last quarter)
Enterprise Value = 61725.58b KRW (37919.64b + Debt 24358.84b - CCE 552.90b)
Interest Coverage Ratio = 4.58 (Ebit TTM 15816.75b / Interest Expense TTM 3454.19b)
EV/FCF = 13.77x (Enterprise Value 61725.58b / FCF TTM 4483.67b)
FCF Yield = 7.26% (FCF TTM 4483.67b / Enterprise Value 61725.58b)
FCF Margin = 4.59% (FCF TTM 4483.67b / Revenue TTM 97766.66b)
Net Margin = 8.49% (Net Income TTM 8303.19b / Revenue TTM 97766.66b)
Gross Margin = 19.75% ((Revenue TTM 97766.66b - Cost of Revenue TTM 78454.43b) / Revenue TTM)
Gross Margin QoQ = 23.64% (prev 13.35%)
Tobins Q-Ratio = 0.24 (Enterprise Value 61725.58b / Total Assets 253091.54b)
Interest Expense / Debt = 0.00% (Interest Expense 770.6m / Debt 24358.84b)
Taxrate = 29.15% (1586.92b / 5444.47b)
NOPAT = 11206.57b (EBIT 15816.75b * (1 - 29.15%))
Current Ratio = 0.48 (Total Current Assets 31866.85b / Total Current Liabilities 66067.66b)
Debt / Equity = 0.52 (Debt 24358.84b / totalStockholderEquity, last quarter 46553.52b)
Debt / EBITDA = 0.70 (Net Debt 20631.49b / EBITDA 29674.71b)
Debt / FCF = 4.60 (Net Debt 20631.49b / FCF TTM 4483.67b)
Total Stockholder Equity = 42736.79b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.34% (Net Income 8303.19b / Total Assets 253091.54b)
RoE = 19.43% (Net Income TTM 8303.19b / Total Stockholder Equity 42736.79b)
RoCE = 12.41% (EBIT 15816.75b / Capital Employed (Equity 42736.79b + L.T.Debt 84699.49b))
RoIC = 17.25% (NOPAT 11206.57b / Invested Capital 64972.10b)
WACC = 4.38% (E(37919.64b)/V(62278.48b) * Re(7.20%) + D(24358.84b)/V(62278.48b) * Rd(0.00%) * (1-Tc(0.29)))
Discount Rate = 7.20% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -81.65 | Cagr: -0.00%
[DCF Debug] Terminal Value 83.59% ; FCFF base≈3108.99b ; Y1≈2453.06b ; Y5≈1617.03b
Fair Price DCF = 22.7k (EV 49818.15b - Net Debt 20631.49b = Equity 29186.66b / Shares 1.28b; r=5.90% [WACC]; 5y FCF grow -25.18% → 2.90% )
EPS Correlation: 89.62 | EPS CAGR: 32.17% | SUE: 0.37 | # QB: 0
Revenue Correlation: 84.89 | Revenue CAGR: 17.12% | SUE: 0.03 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.75 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=6.00 | Chg30d=N/A | Revisions Net=+0 | Growth EPS=+19.2% | Growth Revenue=+2.2%