Korea Electric Power Corp (015760) fair value: what the stock is really worth
As of Oct 23, 2026: fair value (intrinsic value) of Korea Electric Power Corp stock KRW 85,950, price KRW 28,650, upside +200.0%, quality 50 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Fair value above price?Yes
Good quality?No
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 22, 2026.
How to read this chart
60‑month range 15,512 KRW – 67,900 KRW · fair‑value band 40,331 KRW – 173,508 KRW · the 28,650 KRW price screens below the 85,950 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Oct 22, 2026.
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Korea Electric Power Corporation, together with its subsidiaries, engages in the generation, transmission, and distribution of electricity in South Korea and internationally.
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The company operates through five segments: Electricity Sales, Nuclear Power Generation, Thermal Power Generation, Power Support, and Other.
It builds and operates overhead and underground transmission power grids; offers digital substations, grid stabilization equipment, and predictive diagnostic system; high voltage direct current transmission; distribution network construction, distributed energy, and smart distribution network; power outage prevention, insulated sticks, and scheduled power shutdowns; and smart metering service.
The company also engages in electricity sale and demand management; electric vehicle charging; microgrid; urban energy planning platform; solar power generation projects; and clean hydrogen businesses, as well as research and development.
In addition, it is involved in thermal, nuclear, wind, solar, and hydro power generation; power grid consulting/EPC projects; HVDC submarine transmission; power plant engineering and maintenance; nuclear fuel design and manufacturing; power IT services; investment activities; coal ash industrial materials resource manufacturing; facility management and service; wood pellet utilization; and securitization.
The company was formerly known as Korea Electric Company and changed its name to Korea Electric Power Corporation in January 1982. Korea Electric Power Corporation was founded in 1961 and is headquartered in Naju-si, South Korea.
Stock analysis
Korea Electric Power Corp (015760) currently trades at 28,650 KRW, while our model-based Fair Value estimate is 85,950 KRW, implying the stock looks roughly 66.7% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 214,957 KRW per share, and 24 of the 26 models we run sit above the 28,650 KRW price.
Bear case: the Asset-Based group reads lowest at 49,762 KRW, and 2 of the 26 models stay below the price. Data coverage for this calculation is low.
Scenario range: 40,331 KRW (bear) to 173,508 KRW (bull), the price of 28,650 KRW sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 50/100 (below-average quality), in the Utilities sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Korea Electric Power Corp reported revenue of 96.6T KRW in FY2025 versus 60.6T KRW in FY2021, a compound +12.4%/yr. Reported net income was 8.5T KRW in FY2025.
Key figures
Market cap 18.4T KRW (≈ $13.9B) Large · P/S ratio 0.19 · Dividend yield 5.4% · Net margin 8.0% · Return on equity 16.6% · Return on assets (EBIT) −2.0% · Operating margin 4.7% · Revenue (TTM) 97.6T KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
The share trades about 58% below its 52-week high and 2% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at 200%, 015760 screens cheaper than that median.
Fair Value models
Bear40,331 KRWFair Value 85,950 KRWBull173,508 KRW
Price 28,650 KRW · Upside +200.0%
Capped: our models arrive at a very high value here. We deliberately show a more cautious Fair Value.
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.82/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.7%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.5%
Start year 2020 (pandemic). Over 10 years: +5.1% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
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What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+28.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.9%
Dividend (yield on the price)5.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.33.8% vs 2.0%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 14%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+15.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about +13.0% a year for the price and −0.5% for the forecasts.
AI conclusion: The regulated utility profile delivers stable essential demand as its main strength, yet high leverage and persistent debt pressures remain the core weakness limiting flexibility.
Main risk: Ongoing debt pressures after years of self-rescue efforts remain the biggest risk by constraining financial flexibility and operational capacity in this high-leverage utility.
KEPCO faces ongoing debt pressures even after years of self-rescue efforts, yet recent parliamentary discussions highlight a potential shift where major semiconductor users like Samsung and SK Hynix could cover most new grid expansion costs. Our models currently see the stock as undervalued amid these dynamics. Will offloading infrastructure burdens to high-demand customers strengthen the utility's finances, or will persistent regulatory limits and operational risks continue to constrain performance?
Compare Korea Electric Power Corp with another stock
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 157 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score50 · Above median
Fair Value upside+200.0% · Top 25%
Profitability
Return on equity (12 months)16.6% · Top 25%
Return on assets3.4% · Above median
Net margin (12 months)8.0% · Below median
Operating margin (12 months)4.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−0.1% · Below median
Dividend yield (12 months)5.4% · Top 25%
Balance sheet
Debt / equity1.74× · Highest 25%
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Korea Electric Power Corp Fair Value". https://www.fairvalue-calculator.com/stock/015760.KO
Frequently asked questions
Is Korea Electric Power Corp (015760) overvalued or undervalued?
As of Oct 22, 2026, our model estimates a fair value of 85,950 KRW versus a price of 28,650 KRW, about +200% upside (undervalued).
What is the fair value of 015760?
Our model-based fair value for Korea Electric Power Corp is 85,950 KRW (as of Oct 22, 2026), built from audited fundamentals. The current price: 28,650 KRW.
What is the quality score of 015760?
Korea Electric Power Corp has a Quality Score of 50/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Korea Electric Power Corp (015760)?
Our model-based price target is the fair value of 85,950 KRW (as of Oct 22, 2026) from 26 valuation models. Cautious scenario 40,331 KRW, optimistic scenario 173,508 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Korea Electric Power Corp stock forecast for 2026?
Our models put fair value at 85,950 KRW, about +200% upside versus a price of 28,650 KRW (undervalued). Cautious scenario 40,331 KRW, optimistic scenario 173,508 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Korea Electric Power Corp (015760)?
Korea Electric Power Corp reported trailing-twelve-month revenue of about 97.6T KRW (latest available figure, as of Oct 22, 2026).
Does Korea Electric Power Corp pay a dividend?
Korea Electric Power Corp currently shows a dividend yield of 5.38% relative to its recent price (as of Oct 22, 2026).
What growth is priced into Korea Electric Power Corp (015760)?
For today's price to be fair in a discounted-cash-flow model, Korea Electric Power Corp would have to grow free cash flow by +15.4 % per year for five years (discount rate 9.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +10.5 % per year. As of Oct 22, 2026.
What discount rate (WACC) does the fair value of 015760 use?
Our models discount Korea Electric Power Corp at 9.2 %: a base by market capitalisation (large), damped by beta 0.82, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Korea Electric Power Corp that is +15.4 % per year a year over ten years, using the same discount rate (9.2 %) and the same formula as our fair value.
How much growth has Korea Electric Power Corp (015760) delivered so far?
Over the past 5 years revenue at Korea Electric Power Corp grew +10.5 % a year. The price currently implies +15.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Korea Electric Power Corp (015760) growing?
The median revenue growth in the sector is +3.7 % a year. That is the yardstick for the growth priced into Korea Electric Power Corp (+15.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Korea Electric Power Corp (015760)?
The free-cash-flow yield on the price is 26.87 %: that much free cash flow Korea Electric Power Corp produces per unit of market value. When it exceeds the discount rate of our models (9.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Korea Electric Power Corp (015760)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Korea Electric Power Corp it is 85,950 KRW per share (as of Oct 22, 2026), against a price of 28,650 KRW. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Korea Electric Power Corp stock overvalued or undervalued in 2026?
As of Oct 22, 2026, 015760 trades below its calculated fair value: price 28,650 KRW, fair value 85,950 KRW, a gap of about +200% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 015760?
No. The price is what the market pays today (28,650 KRW); the fair value is what the company's own numbers justify (85,950 KRW). For Korea Electric Power Corp the two are 57,300 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Korea Electric Power Corp worth?
The market values Korea Electric Power Corp at about 18.4T KRW (market capitalisation, as of Oct 22, 2026). Per share that is 28,650 KRW; our models calculate a fair value of 85,950 KRW per share.
What do the bullish and bearish scenarios say about 015760?
Our models span a range for Korea Electric Power Corp: cautious scenario 40,331 KRW, base 85,950 KRW, optimistic 173,508 KRW per share (as of Oct 22, 2026, price 28,650 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Korea Electric Power Corp (015760)?
Balance-sheet figures for Korea Electric Power Corp (as of Oct 22, 2026): return on equity 16.6%, debt of 1.74 per unit of equity. They feed the Quality Score of 50/100, which measures business quality independently of the share price.
How far is 015760 from its 52-week high?
Korea Electric Power Corp trades at 28,650 KRW, about 58% below its 52-week high of 67,900 KRW and 2% above the low of 28,200 KRW (as of Oct 23, 2026). Distance from the high says nothing about value: that is what the fair value of 85,950 KRW is for.
Which stocks are comparable to Korea Electric Power Corp?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, American Electric Power Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Korea Electric Power Corp stock attractive at the current price?
The data as of Oct 22, 2026: price 28,650 KRW, calculated fair value 85,950 KRW (+200%), Quality Score 50/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 015760 calculated?
We run Korea Electric Power Corp through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 85,950 KRW, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 12.3 % above its aggregate fair value. Korea Electric Power Corp currently trades 67 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Korea Electric Power Corp (015760)?
The closing price on Oct 23, 2026 was 28,650 KRW. Our model-based fair value is 85,950 KRW, about +200% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Korea Electric Power Corp right now?
The price is below even our cautious bear case (40,331 KRW). The market is more pessimistic than our downside scenario. The model range is unusually wide (40,331 KRW to 173,508 KRW). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (50/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Korea Electric Power Corp
How large is the market capitalisation of Korea Electric Power Corp (015760)?
The market capitalisation of Korea Electric Power Corp is 18.4T KRW (≈ $13.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Korea Electric Power Corp (015760)?
The price-to-sales ratio of Korea Electric Power Corp is 0.19 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Korea Electric Power Corp (015760)?
The dividend yield of Korea Electric Power Corp is 5.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Korea Electric Power Corp (015760)?
The net margin of Korea Electric Power Corp is 8.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Korea Electric Power Corp (015760)?
The return on equity (ROE) of Korea Electric Power Corp is 16.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Korea Electric Power Corp (015760)?
On an EBIT basis the return on assets of Korea Electric Power Corp is −2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Korea Electric Power Corp (015760)?
The operating margin of Korea Electric Power Corp is 4.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Korea Electric Power Corp (015760)?
Revenue at Korea Electric Power Corp is growing −0.1% versus a year earlier (3y avg +10.7%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Korea Electric Power Corp (015760)?
Earnings per share at Korea Electric Power Corp are growing −76.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Korea Electric Power Corp (015760) carry?
The net debt of Korea Electric Power Corp is 128T KRW (fiscal year 2025, ≈ 25.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Oct 22, 2026