KEP

MKT CAP:$20B

Korea Electric Power Corporation

Market Cap

$20B

Utilities·Regulated Electric·🇰🇷 South Korea·NYSE

Utilities·Regulated Electric·🇰🇷·NYSE

Stock Price

$15.63-$1.03 (-6.18%)

Apr 24, 2026

Company Details

Korea Electric Power Corporation, an integrated electric utility company, generates, transmits, and distributes electricity in South Korea and internationally. The company operates through Transmission and Distribution, Nuclear Power Genera...

CEO

Dong-Cheol Kim

IPO Date

Oct 27, 1994

Website

home.kepco.co.kr

Key Metrics TTM

Revenue

$62.0B

+24.6% YoY

Net Income

$2.8B

EPS (Diluted)

$2.19

Free Cash Flow

-$1.6B

Revenue / Share

$48.27

Gross Margin

12.5%

Operating Margin

9.9%

Net Margin

4.5%

FCF Margin

-2.6%

P/S

0.3x

P/E

7.2x

Earnings Reports

FY 2025

Dec 30, 2025

$66.7B+5.7%EPS $4.59

FY 2024

Apr 28, 2025

$63.0B+6.8%EPS $1.84

Q4 2024

Apr 28, 2025

$15.3B+0.8%EPS $0.53

Q3 2024

Sep 30, 2024

$17.6BEPS $0.97

Q2 2024

Jun 28, 2024

$13.8B+4.3%EPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 19	$10.0B	-$598M	-$1.1B
Q1 20	$10.2B	$673M	$291M
Q2 20	$8.8B	$745M	$263M
Q1 21	$10.2B	$796M	$382M
Q4 21	$10.0B	-$3.1B	-$3.1B
Q1 22	$11.1B	-$4.8B	-$5.3B
Q2 22	$10.5B	-$3.9B	-$4.4B
Q3 22	$13.3B	-$4.6B	-$5.1B
Q4 22	$12.7B	-$7.2B	-$7.0B
Q2 23	$13.2B	-$1.0B	-$1.5B
Q4 23	$15.2B	$1.9B	$1.3B
Q2 24	$13.8B	$1.4B	$844M
Q3 24	$17.6B	$2.8B	$2.3B
Q4 24	$15.3B	$1.7B	$1.7B

Valuation

Quarter	P/S	P/E
Q4 19	—	—
Q1 20	—	—
Q2 20	—	—
Q1 21	0.3x	—
Q4 21	0.3x	—
Q1 22	0.3x	—
Q2 22	0.3x	—
Q3 22	0.2x	—
Q4 22	0.2x	—
Q2 23	0.2x	—
Q4 23	0.2x	—
Q2 24	0.2x	—
Q3 24	0.2x	11.9x
Q4 24	0.1x	3.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 19	$663M	-$3.1B
Q1 20	$2.7B	$682M
Q2 20	$1.2B	-$1.5B
Q1 21	$3.1B	$1.3B
Q4 21	-$1.5B	-$3.8B
Q1 22	-$2.4B	-$4.2B
Q2 22	-$4.2B	-$6.4B
Q3 22	-$2.6B	-$4.6B
Q4 22	-$6.6B	-$9.0B
Q2 23	-$919M	-$3.5B
Q4 23	$1.5B	-$1.0B
Q2 24	$1.2B	-$1.2B
Q3 24	$3.3B	$1.3B
Q4 24	$2.0B	-$625M

Capital Expenditures

Quarter	CapEx
Q4 19	$3.7B
Q1 20	$2.0B
Q2 20	$2.7B
Q1 21	$1.8B
Q4 21	$2.3B
Q1 22	$1.8B
Q2 22	$2.2B
Q3 22	$2.0B
Q4 22	$2.4B
Q2 23	$2.6B
Q4 23	$2.5B
Q2 24	$2.5B
Q3 24	$2.0B
Q4 24	$2.7B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	-0.0%	+17.8%
Q1 22	+9.1%	+65.4%
Q2 22	+18.8%	+73.8%
Q3 22	+31.0%	+88.0%
Q4 22	+26.4%	+50.0%
Q2 23	+19.2%	-9.7%
Q4 23	+45.1%	-6.5%
Q2 24	+3.5%	-29.6%
Q3 24	+39.0%	-22.2%
Q4 24	+15.7%	-7.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 19	$0	0.0%
Q1 20	$0	0.0%
Q2 20	$0	0.0%
Q1 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q2 23	$0	0.0%
Q4 23	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 19	—	$371M	$9M
Q1 20	—	$302M	$5M
Q2 20	—	$380M	$6M
Q1 21	—	$337M	$5M
Q4 21	—	$389M	$9M
Q1 22	—	$350M	$10M
Q2 22	—	$381M	$5M
Q3 22	—	$379M	$4M
Q4 22	—	$412M	$8M
Q2 23	—	$332M	$5M
Q4 23	$149M	$450M	$3M
Q2 24	—	$371M	$6M
Q3 24	—	$416M	$6M
Q4 24	—	$400M	$5M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.3B	$2.2B	$4.6B
Q2 22	$2.1B	$2.0B	$4.0B
Q3 22	$4.0B	$1.6B	$5.6B
Q4 22	$2.2B	$2.7B	$4.9B
Q1 23	$2.1B	$1.6B	$3.7B
Q2 23	$1.9B	$1.2B	$3.2B
Q3 23	$3.0B	$2.5B	$5.5B
Q4 23	$2.9B	$1.9B	$4.8B
Q1 24	$2.0B	$1.9B	$3.9B
Q2 24	$1.8B	$1.4B	$3.2B
Q3 24	$2.5B	$2.8B	$5.3B
Q4 24	$1.6B	$1.8B	$3.5B
Q1 25	$1.6B	$2.8B	$4.5B
Q2 25	$1.3B	$2.8B	$4.1B
Q3 25	$1.5B	$3.5B	$5.0B
Q4 25	$1.5B	$2.8B	$4.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 19	1.28B	—	—
Q1 20	1.28B	0.0%	—
Q2 20	1.28B	0.0%	—
Q1 21	1.28B	0.0%	—
Q4 21	1.28B	0.0%	0.0%
Q1 22	1.28B	0.0%	0.0%
Q2 22	1.28B	0.0%	0.0%
Q3 22	1.28B	0.0%	0.0%
Q4 22	1.28B	0.0%	0.0%
Q2 23	1.28B	0.0%	0.0%
Q4 23	1.28B	0.0%	0.0%
Q2 24	1.28B	0.0%	0.0%
Q3 24	1.28B	0.0%	0.0%
Q4 24	1.28B	0.0%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 19	$7M	1K
Q1 20	$8M	1K
Q2 20	$7M	1K
Q1 21	$17M	604
Q4 21	$8M	1K
Q1 22	$9M	1K
Q2 22	$8M	1K
Q3 22	$10M	1K
Q4 22	$10M	1K
Q2 23	$10M	1K
Q4 23	$11M	1K
Q2 24	$10M	1K
Q3 24	$13M	1K
Q4 24	$10M	1K

Revenue / Employee