Latest Ratios: P/E Ratio 2.9x · EV/EBITDA 5.7x · ROE 18.8%. (2002–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.4B | $21.5B | $8.8B | $9.3B | $11.1B | $11.7B | $15.8B | $15.2B | $18.9B | $22.7B | $23.7B |
| Enterprise Value | $102.3B | $130.81T | $21.98T | $19.31T | $121.54T | $8.43T | $7.72T | $7.98T | $3.38T | $1.67T | $-2486447010560 |
| P/E Ratio → | 2.89 | 0.00 | 0.00 | — | — | — | 0.01 | — | — | 0.02 | 0.00 |
| P/S Ratio | 0.26 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/B Ratio | 0.51 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| P/FCF | 4.84 | 0.00 | 0.01 | — | — | — | — | — | — | — | 0.01 |
| P/OCF | 1.18 | 0.00 | 0.00 | 0.01 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.35 | 0.24 | 0.22 | 1.72 | 0.14 | 0.13 | 0.13 | 0.06 | 0.03 | -0.04 |
| EV / EBITDA | 5.69 | 4.78 | 1.01 | 2.20 | — | 1.36 | 0.49 | 0.85 | 0.36 | 0.11 | -0.12 |
| EV / EBIT | 11.47 | 8.21 | 2.63 | — | — | — | 1.55 | — | — | 0.31 | -0.20 |
| EV / FCF | — | 25.45 | 13.24 | — | — | — | — | — | — | — | -0.57 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.4% | 16.4% | 12.0% | -2.5% | -43.0% | -6.1% | 10.6% | 2.4% | 4.0% | 12.9% | 24.3% |
| Operating Margin | 14.1% | 14.1% | 9.0% | -4.9% | -45.7% | -9.5% | 7.1% | -2.9% | -1.1% | 8.3% | 19.9% |
| Net Profit Margin | 8.8% | 8.8% | 3.7% | -5.5% | -34.7% | -8.8% | 3.4% | -4.0% | -2.2% | 2.2% | 11.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.8% | 18.8% | 8.9% | -12.2% | -45.6% | -7.8% | 2.9% | -3.4% | -1.8% | 1.8% | 10.0% |
| ROA | 3.4% | 3.4% | 1.4% | -2.0% | -11.0% | -2.6% | 1.0% | -1.2% | -0.7% | 0.7% | 4.0% |
| ROIC | 8.4% | 8.4% | 10.5% | -2.9% | -20.4% | -5.6% | 4.0% | -1.7% | -0.7% | 5.1% | 13.3% |
| ROCE | 7.3% | 7.3% | 4.6% | -2.3% | -17.4% | -3.2% | 2.3% | -1.0% | -0.4% | 3.2% | 7.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.70 | 2.70 | 0.59 | 0.63 | 2.97 | 0.17 | 0.14 | 0.14 | 0.07 | 0.06 | 0.01 |
| Debt / EBITDA | 4.86 | 4.86 | 1.12 | 2.69 | — | 1.78 | 0.62 | 1.04 | 0.50 | 0.27 | 0.03 |
| Net Debt / Equity | — | 2.65 | 0.53 | 0.52 | 2.89 | 0.13 | 0.11 | 0.12 | 0.05 | 0.02 | -0.03 |
| Net Debt / EBITDA | 4.78 | 4.78 | 1.01 | 2.20 | — | 1.35 | 0.49 | 0.85 | 0.36 | 0.11 | -0.12 |
| Debt / FCF | — | 25.45 | 13.24 | — | — | — | — | — | — | — | -0.57 |
| Interest Coverage | 3.67 | 3.67 | 1.79 | -0.70 | -11.01 | -2.69 | 2.50 | -0.60 | -0.07 | 1.73 | 7.01 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.46 | 0.46 | 0.46 | 0.48 | 0.67 | 0.69 | 0.79 | 0.80 | 0.90 | 0.82 | 0.80 |
| Quick Ratio | 0.31 | 0.31 | 0.30 | 0.34 | 0.45 | 0.46 | 0.53 | 0.51 | 0.57 | 0.56 | 0.58 |
| Cash Ratio | 0.10 | 0.10 | 0.08 | 0.12 | 0.16 | 0.14 | 0.19 | 0.14 | 0.17 | 0.18 | 0.23 |
| Asset Turnover | — | 0.38 | 0.38 | 0.36 | 0.30 | 0.28 | 0.29 | 0.30 | 0.33 | 0.33 | 0.34 |
| Inventory Turnover | 7.95 | 7.95 | 8.41 | 10.11 | 10.16 | 8.37 | 7.68 | 8.19 | 8.10 | 8.68 | 8.31 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Payout Ratio | 2.6% | 2.6% | 3.6% | — | — | — | 4.1% | — | — | 103.2% | 29.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 34.6% | 40672.7% | 39528.3% | — | — | — | 12640.4% | — | — | 5711.5% | 29705.1% |
| FCF Yield | 20.7% | 23927.8% | 18793.2% | — | — | — | — | — | — | — | 18406.6% |
| Buyback Yield | 0.9% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B |
Regulatory tariff recovery lag
With a P/E of 2.74 and a P/B of 0.49, KEP trades at a significant discount to global peers, suggesting that investors are pricing in the persistent risk of government-mandated tariff freezes rather than the underlying replacement value of the company's extensive national transmission and generation infrastructure.
The extremely low valuation multiples appear to reflect a market consensus that KEP's earnings power is secondary to its role as a tool for national inflation control. Investors should monitor whether the shift toward nuclear-centric policy acts as a catalyst for a re-rating, as the current price suggests the market remains skeptical of the company's ability to achieve consistent, market-based returns.
As reported in the quarterly financial data, KEP's ROE has fluctuated between 0.0% and 8.2% over the last ten quarters, indicating that the company frequently fails to earn a return commensurate with its capital intensity due to the persistent regulatory lag in recovering volatile fuel input costs.
The inconsistency in ROE highlights the structural challenge of operating under a regime where tariff adjustments are politically sensitive rather than formulaic. This volatility suggests that the company's profitability is less a function of operational efficiency and more a reflection of the timing of government-approved rate hikes.
Based on the provided financial statements, the debt-to-capital ratio has remained elevated, frequently exceeding 0.70, which underscores the company's heavy reliance on debt markets to fund essential infrastructure maintenance and cover the persistent working capital deficits caused by delayed fuel cost recovery mechanisms.
The reported debt-to-equity volatility warrants extreme caution, as it may mask the true extent of the company's leverage when accounting for unrecovered fuel costs. The persistent reliance on debt to bridge the gap between operating cash flow and capital expenditure suggests a vulnerable balance sheet that is highly sensitive to interest rate fluctuations.
According to the historical quarterly data, the dividend yield has shown extreme volatility, ranging from negligible levels to 100.0%, which reflects the company's inability to maintain a consistent payout policy while simultaneously managing the massive capital requirements of its nuclear and grid infrastructure programs.
The erratic nature of the dividend payout suggests that shareholders should not view KEP as a reliable income vehicle under current regulatory conditions. The company's priority appears to be capital preservation for infrastructure investment, making the dividend a secondary consideration that is subject to the whims of political and financial cycles.
The market's reliance on the P/E ratio as a primary valuation metric for KEP is fundamentally flawed, as it obscures the massive distortions caused by deferred fuel cost recovery and the non-recurring nature of regulatory settlements that frequently decouple reported earnings from actual cash-generating capacity.
Investors should instead focus on EV/EBITDA or P/B ratios, which provide a more stable view of the company's asset base and operational scale. Using P/E to evaluate a utility that is subject to frequent, politically-driven earnings volatility leads to a misunderstanding of the company's true economic durability and long-term value proposition.
Includes 30+ ratios · 24 years · Updated daily
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Quick answers to the most common questions about buying KEP stock.
Korea Electric Power Corporation's current P/E ratio is 2.9x. The historical average is 0.0x. This places it at the 100th percentile of its historical range.
Korea Electric Power Corporation's current EV/EBITDA is 5.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.3x.
Korea Electric Power Corporation's return on equity (ROE) is 18.8%. The historical average is 0.6%.
Based on historical data, Korea Electric Power Corporation is trading at a P/E of 2.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Korea Electric Power Corporation's current dividend yield is 0.87% with a payout ratio of 2.6%.
Korea Electric Power Corporation has 16.4% gross margin and 14.1% operating margin. Operating margin between 10-20% is typical for established companies.
Korea Electric Power Corporation's Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.