| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 96 | 2.7x | 17.3x | Top tier | |
Growth | 41 | 1.8% | 7.1% | Around median | |
Quality | 42 | 7.9% | 4.5% | Around median | |
Safety | 36 | 4.7x | 2.6x | Bottom tier | |
Capital Return | 94 | 5.18% | 0.06% | Top tier | |
Momentum | 13 | -29.3% | -1.6% | Bottom tier | |
Sentiment | 20 | 1 | 3 | Bottom tier |
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Korea Electric Power Corporation (KEP) is a central electricity provider, with the vast majority of its revenue coming from power sales, alongside other revenue that includes overseas operations. In the first half of fiscal 2026, power sales amounted to KRW 43.9641 trillion out of total revenue of KRW 46.3173 trillion, representing approximately 94.9% of revenue, while other revenue amounted to KRW 2.3532 trillion, or approximately 5.1%. Production costs and profit margins depend on the generation mix among nuclear power, coal, and liquefied natural gas, as well as fuel prices and the system marginal price of electricity.
In Q2 of fiscal 2026, KEPCO reported results for the first half of fiscal 2026, with revenue rising 0.3% to KRW 46.3173 trillion, despite a 0.4% decline in power sales to KRW 43.9641 trillion and a 0.6% decrease in sales volume to 266.7 terawatt-hours. Other revenue, including overseas operations, offset part of the weakness by increasing 16.7% to KRW 2.3532 trillion. Operating income amounted to KRW 4.9127 trillion, equivalent to an operating margin of approximately 10.6%, while net income reached KRW 2.7965 trillion.
The annual financial statements show a significant financial turnaround in fiscal 2024, with revenue of 92,578.3 billion, gross profit of 10,614.1 billion, net income of 3,622.0 billion, and earnings per share of 5,439, following a net loss of 4,716.1 billion in fiscal 2023 and a loss of 24,429.1 billion in fiscal 2022. However, cost of sales and selling, general, and administrative expenses rose 2.8% to KRW 41.4046 trillion in the first half of fiscal 2026, while fuel costs increased 8.8% to KRW 10.1429 trillion, making the sustainability of profitability dependent on fuel management, tariffs, and the generation mix.
The context does not include a consensus price target or a high-low range of analyst targets, while the available consensus is limited to a “Neutral” rating. The 52-week range is between $11.16 and $23.41, and no usable price-to-earnings ratio is available; therefore, the available data do not permit a valuation based on earnings or a price target, particularly given the continuing risks related to borrowings, tariffs, and fuel costs despite the return to profitability.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
The Q2 fiscal 2026 disclosure covered first-half results, with revenue rising 0.3% to KRW 46.3173 trillion. Operating income amounted to KRW 4.9127 trillion, while net income reached KRW 2.7965 trillion. This came despite a 0.4% decline in power sales, while other revenue, including overseas operations, rose 16.7% to KRW 2.3532 trillion.
The company recorded net income of 3,622.0 billion and earnings per share of 5,439 in fiscal 2024. This compares with a net loss of 4,716.1 billion in fiscal 2023 and a loss of 24,429.1 billion in fiscal 2022. Positive performance continued in the first half of fiscal 2026, with net income of KRW 2.7965 trillion, but the 8.8% increase in fuel costs remains a test of the sustainability of this recovery.
The nuclear capacity factor declined in the first half of fiscal 2026 due to extended preventive maintenance at certain generating units. This resulted in approximately KRW 101.3 billion in other operating expenses and increased the contribution of coal and liquefied natural gas to the generation mix. KEPCO plans to add Saeul Unit 3 to the grid and perform maintenance at existing plants on a more disciplined timetable, targeting a nuclear capacity factor in the low-to-mid-80% range during fiscal 2026.
Automated analysis for informational purposes only — not investment advice.
Total borrowings amounted to KRW 133.3 trillion on a consolidated basis and KRW 84.8 trillion on a standalone basis in the first half of fiscal 2026. KEPCO aims to meet the requirement to reduce the ratio of corporate bond issuance to capital and reserves to less than two times by the end of 2027. Management says it is focused on increasing operating earnings and working with the government to reach an appropriate tariff level, while spreading the capital expenditure needs of major projects across several quarters and years.
The price of Australian thermal coal was approximately $128.2 per ton, while the price of liquefied natural gas under the JKM benchmark was approximately KRW 939 thousand per ton in the first half of fiscal 2026. Fuel costs rose 8.8% to KRW 10.1429 trillion, and management noted on August 12, 2026 that higher international fuel costs had begun to flow through with a time lag to the system marginal price of electricity in July and August 2026. The company believes that raising tariffs would help address accumulated losses and bond requirements, but it did not confirm the magnitude or timing of an increase due to inflation and macroeconomic considerations.
The consensus available in the context is “Neutral” and does not include a consensus price target or a breakdown of buy, hold, and sell recommendations. No price-to-earnings ratio is available either, although the 52-week range extends from $11.16 to $23.41. Therefore, the stock's valuation remains dependent on KEPCO's ability to protect its profitability, reduce its borrowing burden, manage rising fuel costs, and secure tariffs that support its financing requirements by the end of 2027.