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Korea Electric Power Corporation

KEP Utilities Utilities Regulated Electric

Korea Electric Power Corporation’s revenue for fiscal 2025 (year ended December 2025) was $67.6 billion, up 4.31% from fiscal 2024.

Revenue
−0.14%
EPS
−77.8%
Free cash flow
−689.1%
Total debt
−7.75%

Quarter to June 2026, against a year earlier

11.22 0.12 +1.08%
Market cap
$14.3B
P/E
2.6×
Fwd P/E
4.1×
Dividend yield
0.00%
F-score
9/9
Altman Z
0.63
Beneish M
−2.81
Dividend safety
56/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.31%

Capital & Financial Ratios $m

Size
Market Cap 14,250.00
Revenue ttm 67,697.57
Net income ttm 5,547.59
Free cash flow ttm 1,368.19
Net debt Q 52,882.21
Valuation
P/E 2.59
Forward P/E 4.12
Price / sales 0.21
Forward P/S Powerpack
Price / FCF 10.43
Price / book 0.39
Financial health
Current ratio Q 0.44 (below 1: weak)
Debt / equity Q 1.60
Interest coverage Q 0.78
Growth
Revenue growth Q −0.14% (below 0%: shrinking)
Operating income growth Q −47.16% (below 0%: shrinking)
EPS, this year −46.15% (below 0%: weak)
EPS, next year A +37.36% (at or above 15%: strong)
Revenue, next year A −97.74% (below 0%: weak)
EPS, past 5 yrs +28.81% (at or above 15%: strong)
EPS, next 5 yrs A −1.69% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.0×, against a ten-year median of 1.1×; over the ten years it ranged from 0.2× in 2024 to 1.6× in 2023.
P/E against its own 10 years 7.56%
10-year low 10-year high
P/S against its own 10 years 29.12%
10-year low 10-year high
P/B against its own 10 years 76.64%
10-year low 10-year high
EV/Sales against its own 10 years 17.64%
10-year low 10-year high
EV/FCF against its own 10 years 73.51%
10-year low 10-year high

Dividends

Yield
0.00%
Annual rate
0.00
Payout ratio
0.00%
Growth, 2016–24
−32.5%/yr
  1. 1.73 ’16
  2. 0.37 ’17 −79
  3. 0.00 ’18 −100
  4. 0.00 ’19
  5. 0.54 ’20
  6. 0.07 ’24 −86
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 5,960 4,114 4,544 5,032
Receivables 9,644 8,606 8,897 8,555
Inventory 7,100 6,838 7,107 7,798
Other 887 888 953 1,253
23,629 20,479 21,501 22,638
2023 2024 2025 Q'26
Payables 7,272 6,588 6,035 7,046
ST’ Debt — — — —
Other 8,429 6,385 7,683 7,715
48,999 44,778 46,975 51,093

Compound Annual Growth %

10y 5y 3y
Sales 2.45% 7.84% 11.03%
Cash Flow (0.42%) 6.70% 0.00%
Earnings (6.69%) 30.29% 0.00%
Book Value (5.56%) (9.39%) 5.50%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.33 Actual 0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 2.08 2.11 Beat by 0.03
Mar 2026 1.27 1.33 Beat by 0.06
Jun 2026 0.33 0.14 Miss by 0.19
Sep 2026 0.66 — Reports 17 December 2026

EPS $

Mar Jun Sep Dec Year
’26 1.33 0.14 — — —
’25 1.25 0.63 2.11 0.71 4.68
’24 0.33 0.04 1.06 0.51 1.99
’23 (3.02) (1.19) 0.47 0.73 (2.88)
’22 (3.85) (3.01) (3.44) (3.41) (14.75)
’21 0.06 (0.48) (0.73) (2.41) (3.61)
’20 0.01 0.10 0.77 0.39 1.32
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 17,079 15,343 — — —
’25 16,957 15,365 19,301 15,975 67,597
’24 18,634 14,332 18,272 13,567 64,805
’23 17,275 15,698 19,576 17,432 69,981
’22 13,171 12,422 13,841 9,947 49,382
’21 13,568 12,167 14,816 13,371 53,922
’20 12,075 10,458 12,569 11,239 46,341
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 5,115 867 — — —
’25 4,727 3,215 4,229 2,444 14,616
’24 4,986 638 3,385 2,105 11,113
’23 (2,760) (1,089) 3,340 1,727 1,218
’22 (2,802) (4,997) (1,762) (6,873) (16,434)
’21 4,117 719 1,240 (2,050) 4,026
’20 3,235 1,438 3,577 2,317 10,567
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,210 (2,884) — — —
’25 2,114 (365) 2,257 (216) 3,790
’24 2,098 (1,469) 1,355 (605) 1,380
’23 (5,469) (4,087) 999 (1,164) (9,721)
’22 (4,887) (7,493) (3,168) (9,144) (24,692)
’21 1,838 (3,020) (1,014) (5,031) (7,227)
’20 887 (1,640) 1,540 (667) 120
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 53,787 53,402 54,630 46,854 46,341 53,922 49,382 69,981 64,805 67,597 67,698 +2.6% 1,530 1,552 1,583 (71.4%)
Gross margin, % 23.78 12.20 3.04 1.35 10.57 (6.08) (43.03) (2.54) 11.47 16.43 15.38 (7.4) pt
EBT 9,462 3,253 (1,821) (2,613) 2,393 (6,377) (23,691) (6,043) 3,680 8,111 7,358 (1.7%)
EBT margin, % 17.59 6.09 (3.33) (5.58) 5.16 (11.83) (47.97) (8.64) 5.68 12.00 10.87 (5.6) pt
Net income 6,433 1,297 (1,069) (1,811) 1,674 (4,706) (17,100) (3,773) 2,535 6,067 5,548 (0.7%)
Per share, $
Per share, $ Revenue 41.89 41.59 42.55 36.49 36.09 42.00 38.46 54.51 50.47 52.65 52.73 +2.6%
Earnings 4.72 0.95 (0.93) (1.46) 1.32 (3.61) (14.75) (2.88) 1.99 4.68 4.29 (0.1%)
Cash flow 11.58 7.89 4.73 5.12 8.23 3.14 (12.80) 0.95 8.66 11.38 9.86 (0.2%)
Capex (8.37) (8.83) (8.61) (8.54) (8.14) (8.76) (6.43) (8.52) (7.58) (8.43) (8.79) +0.1%
Free cash flow 3.21 (0.94) (3.87) (3.42) 0.09 (5.63) (19.23) (7.57) 1.07 2.95 1.07 (0.9%)
Book value 51.21 51.15 50.39 42.92 44.03 45.78 22.90 23.22 22.55 26.89 28.27 (6.9%)
Shares, m 1,284 1,284 1,284 1,284 1,284 1,284 1,284 1,284 1,284 1,284 1,284 0.0%
Valuation, ×
Valuation, × P/E 3.87 18.85 0.00 0.00 9.66 0.00 0.00 0.00 3.55 3.51 2.59 3.9
P/S 0.44 0.43 0.35 0.32 0.34 0.22 0.20 0.13 0.14 0.31 0.21 0.3
P/B 0.36 0.35 0.29 0.28 0.28 0.20 0.34 0.31 0.31 0.61 0.39 0.3
EV/Sales 1.10 1.13 1.17 1.28 1.28 1.25 1.49 0.17 1.03 1.12 0.99 1.1
EV/FCF 14.36 (49.95) (12.90) (13.62) 496.63 (9.35) (2.98) (1.25) 48.24 19.90 49.08 48.9
Cash, $m
Cash, $m Operating cash flow 14,869 10,125 6,079 6,571 10,567 4,026 (16,434) 1,218 11,113 14,616 12,655 (0.2%)
Capex (10,750) (11,334) (11,050) (10,959) (10,447) (11,253) (8,258) (10,939) (9,733) (10,826) (11,287) +0.1%
Free cash flow 4,118 (1,209) (4,971) (4,389) 120 (7,227) (24,692) (9,721) 1,380 3,790 1,368 (0.9%)
Balance, $m
Balance, $m Working capital (4,528) (3,854) (1,908) (3,799) (4,255) (8,713) (10,338) (25,370) (24,300) (25,474) (28,455) +21.2%
Net debt 35,201 37,488 45,178 44,575 43,628 55,860 63,569 2,997 57,732 54,253 52,882 +4.9%
Shareholders’ equity 65,745 65,668 64,694 55,112 56,533 58,781 29,400 29,812 28,954 34,526 36,292 (6.9%)
Returns, %
Returns, % ROA 3.99 0.72 (0.72) (1.15) 0.99 (2.71) (9.67) (2.17) 1.34 3.41 3.06 (0.6) pt
ROIC 6.85 2.90 (0.35) (0.86) 2.05 (2.81) (15.17) (6.47) 4.27 6.90 6.40 +0.1 pt
ROE 10.00 1.78 (1.84) (3.13) 2.85 (8.30) (38.84) (13.03) 8.32 18.85 16.42 +8.9 pt
People
People Employees 43,688 45,232 46,377 47,452 48,519 48,809 49,237 48,696 48,440 48,650 — +1.2%
Revenue/emp, $m 1.23 1.18 1.18 0.99 0.96 1.10 1.00 1.44 1.34 1.39 — +1.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Korea Electric Power Corporation vs peers in Utilities Regulated Electric (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ES Eversource Energy $27.1B 18.6× 15.6× +2.29% (above 0%: growing) −85.42% (below 0%: shrinking) +398.93% (above 0%: growing) 67.64% 18.63% Compare
EIX Edison International $23.4B 6.5× 9.9× −15.03% (below 0%: shrinking) −12.96% (below 0%: shrinking) +41.59% (above 0%: growing) 65.47% 20.06% Compare
CMS CMS Energy Corporation $22.2B 33.3× 19.2× +8.02% (above 0%: growing) n/m +26.30% (above 0%: growing) 63.03% 2.15% Compare
EVRG Evergy Inc. $20.2B 18.9× 20.1× +15.84% (above 0%: growing) +28.64% (above 0%: growing) −62.16% (below 0%: shrinking) 0.00% 38.56% Compare
LNT Alliant Energy Corporation $19.1B 20.3× 20.8× +6.20% (above 0%: growing) +40.37% (above 0%: growing) −103.43% (below 0%: shrinking) 81.71% 30.27% Compare
KEP Korea Electric Power Corporation $14.3B 2.6× 4.1× −0.14% (below 0%: shrinking) −77.78% (below 0%: shrinking) −689.05% (below 0%: shrinking) 8.72% 5.15%
PNW Pinnacle West Capital Corporation $12.6B 19.0× 22.0× +8.35% (above 0%: growing) +4.27% (above 0%: growing) −24.89% (below 0%: shrinking) 61.58% 31.47% Compare
OGE OGE Energy Corporation $10.5B 19.0× 19.8× +13.19% (above 0%: growing) +33.03% (above 0%: growing) −38.62% (below 0%: shrinking) 62.70% 36.23% Compare
IDA IDACORP, Inc. $8.7B 22.1× 22.7× +15.95% (above 0%: growing) +20.87% (above 0%: growing) −18.34% (below 0%: shrinking) 66.73% 29.39% Compare
Median of peers $19.6B 19.0× 20.0× +8.19% +20.87% −21.61% 64.25% 29.83%

All 39 Utilities Regulated Electric stocks →

Korea Electric Power Corporation (KEP) Latest News

1 Oct

Impact 3 ·

14 Sep

Impact 4 ·

12 Aug

Impact 3 · · MarketBeat transcript

24 Jul

Impact 3 ·

20 Mar

Impact 4 · · Insider Monkey

15 Mar

Impact 4 · · Investing.com

11 Mar

Impact 4 · · Associated Press Finance

13 Feb

Impact 3 · · Zacks

11 Feb

Impact 3 ·

13 Jan

Impact 4 · · Investor's Business Daily

7 Jan

Impact 4 · · Business Wire

6 Nov

Impact 3 · · Investor's Business Daily

21 Oct

Impact 3 · · The Wall Street Journal

16 Sep

Impact 3 · · Associated Press Finance

26 Aug

Impact 4 · · power-technology.com

20 Aug

Impact 4 · · power-technology.com

18 Aug

Impact 4 · · power-technology.com

31 Jul

Impact 4 · · Insider Monkey

25 Jul

Impact 4 ·

16 Jul

Impact 3 ·

15 Jul

Impact 4 · · Insider Monkey
Impact 3 ·

17 Jan

Impact 4 · · power-technology.com

16 Jan

Impact 4 · · Reuters

11 Dec

Impact 4 ·

30 Nov

Impact 4 ·

14 Nov

Impact 4 ·

22 Sep

Impact 4 · · Bloomberg

10 Sep

Impact 4 · · Bloomberg

12 May

Impact 4 · · Reuters

KEP metrics, ten years each

stockrow.com/KEP · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com