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KEPCO Engineering & Construction Company (052690) Fair Value & Analysis

Industrials · KR · Market cap 3.5T KRW

KE KEPCO Engineering & Construction Company 052690 · KO
Price100,900 KRW
Fair Value20,172 KRW
Upside-80.0%
Quality61/100
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Expensive Growth
Thin margins · 4.9% net margin
Low debt · generates free cash flow
1.45% dividend yield
Ranks above peers (7/10)
Narrow moat 42/100
Evidence: High Range 16,102 KRW – 34,090 KRW Share as image

Fair value as of: Jul 17, 2026

From 24 valuation models · updated 24 days ago

Share price −1.3% over the past month.

A solid business, but screening 80% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (34,090 KRW). The favourable scenario is already priced in.
  • Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (16,102 KRW to 34,090 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

194,800 KRW 19,026 KRW Fair Value 20,172 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range 19,026 KRW – 194,800 KRW · fair‑value band 16,102 KRW – 34,090 KRW · the 100,900 KRW price screens above the 20,172 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

Full chart & analysis →

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Analysis

KEPCO Engineering & Construction Company (052690) currently trades at 100,900 KRW, while our model-based Fair Value estimate is 20,172 KRW, implying the stock looks roughly 80.0% overvalued today. The Quality Score stands at 61/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, KEPCO Engineering & Construction Company generated revenue of 454B KRW at a net margin of 4.9%. Revenue grew 13.3% year over year. It earns a return on equity of 4.7%. Net debt stands at 20.7B KRW. Fundamentals as of Jul 17, 2026

Our scenario range runs from 16,102 KRW (bear case) to 34,090 KRW (bull case); at 100,900 KRW, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 49% below its 52-week high and 48% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -35% fair-value upside, at -80%, 052690 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Growth DCF 6,826 KRW 9,236 KRW 13,525 KRW 80
Residual Income 16,139 KRW 20,273 KRW 46,454 KRW 76
Rev-Margin DCF 7,762 KRW 11,621 KRW 16,304 KRW 74
All 24 models by family
DCF Models
FCF DCF 6,528 KRW 8,989 KRW 13,725 KRW 38
Owner Earnings 27,773 KRW 39,235 KRW 61,292 KRW 31
5Y Revenue Exit 7,762 KRW 11,490 KRW 16,918 KRW 39
5Y EBITDA Exit 10,935 KRW 16,985 KRW 25,000 KRW 41
5Y P/E Exit 21,891 KRW 35,959 KRW 52,689 KRW 38
10Y Revenue Exit 7,012 KRW 9,805 KRW 12,848 KRW 36
10Y EBITDA Exit 9,216 KRW 13,282 KRW 17,704 KRW 37
10Y P/E Exit 16,019 KRW 25,289 KRW 34,342 KRW 35
Earnings-Based
Graham-Dodd 15,259 KRW 18,650 KRW 20,981 KRW 54
EPV 7,992 KRW 9,275 KRW 10,416 KRW 59
Dividend Discount
Gordon GGM 9,609 KRW 10,568 KRW 12,042 KRW 70
DDM Multi-Stage 9,609 KRW 12,264 KRW 16,104 KRW 61
Multiples
P/E Multiple 35,342 KRW 47,123 KRW 58,904 KRW 63
P/S Multiple 20,454 KRW 27,272 KRW 34,090 KRW 58
P/B Multiple 28,610 KRW 38,147 KRW 47,684 KRW 55
EV/EBIT 12,600 KRW 16,560 KRW 20,521 KRW 53
EV/EBITDA 15,701 KRW 20,695 KRW 25,690 KRW 54
EV/Revenue 9,198 KRW 12,833 KRW 16,467 KRW 43
Asset-Based
NCAV (Graham) 8,214 KRW 11,007 KRW 16,428 KRW 50
Growth DCF
Growth DCF 6,826 KRW 9,236 KRW 13,525 KRW 80
Rev-Margin DCF 7,762 KRW 11,621 KRW 16,304 KRW 74
Economic Profit
Residual Income 16,139 KRW 20,273 KRW 46,454 KRW 76
ROIC Compounder 7,992 KRW 9,275 KRW 10,416 KRW 72
Growth Earnings
Growth-Adj P/E 24,956 KRW 35,652 KRW 46,347 KRW 68

Widest divergence: Growth Earnings (35,652 KRW) versus Growth DCF (9,236 KRW). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 454B KRW
Revenue growth (YoY) +13.3%
Net margin 4.9%
Return on equity 4.7%
Free cash flow 21.6B KRW FY2025
Operating margin 12.4%
More key figures
Dividend yield 1.5%
EPS growth (YoY) -78.6%
Net debt 20.7B KRW FY2017

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 27

Profitability 50
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 82
Balance sheet, leverage, solvency risk
Investment 88
Disciplined investing over empire-building
Low Volatility 29
Calm price path (market factor)
Momentum 21
Price trend over the last 3–12 months (market factor)
52W Momentum 34
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

KEPCO Engineering & Construction Company, Inc. engages in designing, engineering, procurement, and construction of power plants in South Korea and internationally. It offers architect engineering and nuclear steam supply system designing services.

Full company description

KEPCO Engineering & Construction Company, Inc. engages in designing, engineering, procurement, and construction of power plants in South Korea and internationally. It offers architect engineering and nuclear steam supply system designing services. The company also engages in engineering, procurement, construction, and test run of nuclear power plants; provision of technological support service to enhance the performance and upgrade the power of nuclear power plants that are being operated; fuel conversion of power plants in operation, performance improvement, and lifetime extension; and construction of thermal power plants. In addition, it is involved in the design of combined heat and power plants, and cycle power plants; renewable energy business; transmission and distribution/substation business; greenhouse gas mitigation; and engineering and construction of fuel gas desulfurization systems, DeNOx systems, water and wastewater treatment facilities, wastewater recycling facilities, and desalinization facilities. The company was formerly known as Korea Power Engineering Company, Inc. and changed its name to KEPCO Engineering & Construction Company, Inc. in July 2010. KEPCO Engineering & Construction Company, Inc. was founded in 1975 and is headquartered in Gimcheon-si, South Korea. KEPCO Engineering & Construction Company, Inc. operates as a subsidiary of Korea Electric Power Corporation.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

KEPCO Engineering & Construction Company reported revenue of 519B KRW in FY2025 versus 433B KRW in FY2021, a compound +4.6%/yr. Reported net income was 85.4B KRW in FY2025, compounding +50.9%/yr from FY2021.

Growth Quality 40/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
519B KRW
Latest YoY
−8.9%
Avg. growth/yr (3Y) 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.
+0.9%
Avg. growth/yr (5Y) 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.
+3.7%
Avg. growth/yr (12Y) 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.
−3.1%
Revenue +4.6%/yr
FY21 433B KRW
FY22 505B KRW
FY23 545B KRW
FY24 569B KRW
FY25 519B KRW
Net income +50.9%/yr
FY21 16.5B KRW
FY22 18.0B KRW
FY23 32.7B KRW
FY24 58.5B KRW
FY25 85.4B KRW

052690 screens 80% overvalued. Compare with Larsen & Toubro Limited →

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Cite: Fair Value Calculator (2026). "KEPCO Engineering & Construction Company Fair Value". https://www.fairvalue-calculator.com/stock/052690

Peer Group

Engineering & Construction · 839 stocks

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.

Quality Score 61 · Top 25%
Fair Value upside −80% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 12% · Top 25%
Revenue growth 13% · Above median
Dividend yield (TTM) 1.5% · Below median

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/FCF 0.1× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 16
FUTURE 67 · sector 17
PAST 19 · sector 26
HEALTH 100 · sector 94
DIVIDEND 29 · sector 33

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹96.32 ₹48.22 -50%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
GS Engineering & Construction Corporation 006360 34,400 KRW 23,135 KRW -33%

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Frequently asked questions

Is KEPCO Engineering & Construction Company (052690) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of 20,172 KRW versus a price of 100,900 KRW, about −80% (overvalued).
What is the fair value of 052690?
Our model-based fair value for KEPCO Engineering & Construction Company is 20,172 KRW (as of Jul 17, 2026), built from audited fundamentals. The current price is 100,900 KRW.
What is the quality score of 052690?
KEPCO Engineering & Construction Company has a Quality Score of 61/100. 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 revenue of KEPCO Engineering & Construction Company (052690)?
KEPCO Engineering & Construction Company reported trailing-twelve-month revenue of about 454B KRW (latest available figure, as of Jul 17, 2026).
What is the net profit margin of 052690?
The net profit margin of KEPCO Engineering & Construction Company is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.
Does KEPCO Engineering & Construction Company pay a dividend?
KEPCO Engineering & Construction Company currently shows a dividend yield of about 1.06% relative to its recent price (as of Jul 17, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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