NYSE : KEP
Korea Electric Power Corporation — Financial statements
Utilities · Utilities - Regulated Electric · South Korea
Last price 10.34 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 14.08B
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Financial statements
Korea Electric Power Corporation (KEP) reported revenue of 97.57T KRW (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 96.71T | 96.57T | 92.58T | 87.48T | 70.55T | 60.67T |
| Other Revenue | 861.76B | 861.76B | 820.63B | 743.05B | 711.84B | |
| Revenue | 97.57T | 97.43T | 93.40T | 88.22T | 71.26T | 60.67T |
| Cost of Revenue | 81.99T | 80.89T | 82.17T | 89.86T | 101.07T | 63.78T |
| Gross Profit | 15.58T | 16.54T | 11.23T | -1.64T | -29.81T | -3.11T |
| Selling, General & Admin | 2.40T | 2.36T | 2.19T | 2.18T | 2.16T | 2.11T |
| Research & Development | 172.29B | 186.95B | 217.97B | 217.32B | 213.93B | 214.82B |
| Amortization of Goodwill & Intangibles | 74.79B | 82.90B | 88.92B | 88.65B | 85.66B | 91.43B |
| Other Operating Expenses | 106.61B | 100.77B | 98.71B | 112.45B | 122.18B | 93.45B |
| Operating Expenses | 3.14T | 3.05T | 2.86T | 2.90T | 2.85T | 2.79T |
| Operating Income | 12.44T | 13.49T | 8.36T | -4.54T | -32.66T | -5.90T |
| Interest Expense | -4.16T | -4.29T | -4.62T | -4.46T | -2.76T | -1.91T |
| Interest & Investment Income | 448.52B | 466.52B | 538.13B | 455.56B | 369.63B | 232.40B |
| Earnings From Equity Investments | 809.64B | 600.68B | 755.45B | 1.39T | 494.78B | |
| Currency Exchange Gain (Loss) | -2.15T | 642.60B | -2.50T | -396.56B | -903.89B | -1.08T |
| Other Non Operating Income (Expenses) | 2.96T | 538.00B | 2.55T | 783.02B | 602.01B | 1.14T |
| EBT Excluding Unusual Items | 10.35T | 11.45T | 5.09T | -8.16T | -33.95T | -7.04T |
| Gain (Loss) on Sale of Investments | 18.23B | 3.88B | 126.77B | 613.59B | -50.95B | 15.53B |
| Gain (Loss) on Sale of Assets | 155.37B | 148.88B | 3.97B | -42.24B | 18.34B | -39.06B |
| Asset Writedown | -24.56B | -22.66B | -12.14B | -19.90B | 97.26B | -20.08B |
| Legal Settlements | 6.82B | 6.82B | 45.75B | 44.20B | ||
| Other Unusual Items | 1.19B | 914.00M | 504.00M | 854.00M | 1.17B | 1.83B |
| Pretax Income | 10.51T | 11.59T | 5.26T | -7.55T | -33.84T | -7.08T |
| Income Tax Expense | 2.59T | 2.92T | 1.63T | -2.84T | -9.41T | -1.86T |
| Earnings From Continuing Operations | 7.93T | 8.67T | 3.62T | -4.72T | -24.43T | -5.22T |
| Minority Interest in Earnings | -85.12B | -121.74B | -130.27B | -106.41B | -37.74B | -88.94B |
| Net Income | 7.84T | 8.54T | 3.49T | -4.82T | -24.47T | -5.30T |
| Net Income to Common | 7.84T | 8.54T | 3.49T | -4.82T | -24.47T | -5.30T |
| Shares Outstanding (Basic) | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M |
| Shares Outstanding (Diluted) | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M |
| EPS (Basic) | 12,212.54 | 13,310.59 | 5,439.09 | -7,512.18 | -38,112.50 | -8,262.96 |
| EPS (Diluted) | 12,212.54 | 13,310.59 | 5,439.09 | -7,512.18 | -38,112.50 | -8,263.00 |
| Free Cash Flow | 1.59T | 5.05T | 1.66T | -12.39T | -35.82T | -8.20T |
| Free Cash Flow Per Share | 2,483.49 | 7,860.28 | 2,585.94 | -19,294.24 | -55,804.33 | -12,766.05 |
| Dividend Per Share | 1.54K | 1.54K | 213.00 | |||
| Gross Margin | 15.97% | 16.98% | 12.02% | -1.86% | -41.83% | -5.13% |
| Operating Margin | 12.75% | 13.85% | 8.96% | -5.15% | -45.83% | -9.73% |
| Profit Margin | 8.04% | 8.77% | 3.74% | -5.47% | -34.34% | -8.74% |
| Free Cash Flow Margin | 1.63% | 5.18% | 1.78% | -14.04% | -50.27% | -13.51% |
| EBITDA | 25.48T | 26.69T | 21.71T | 7.84T | -20.81T | 6.04T |
| EBITDA Margin | 26.11% | 27.39% | 23.24% | 8.89% | -29.20% | 9.95% |
| D&A For EBITDA | 13.04T | 13.19T | 13.35T | 12.39T | 11.84T | 11.94T |
| EBIT | 12.44T | 13.49T | 8.36T | -4.54T | -32.66T | -5.90T |
| EBIT Margin | 12.75% | 13.85% | 8.96% | -5.15% | -45.83% | -9.73% |
| Effective Tax Rate | 24.60% | 25.20% | 31.10% | |||
| Revenue as Reported | 97.43T | 97.43T | 93.40T | 88.22T | 71.26T | |
| Advertising Expenses | 55.45B | 46.19B | 41.68B | 47.63B | 29.23B |
Balance sheet
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.62T | 2.24T | 2.38T | 4.34T | 3.23T | 2.64T |
| Short-Term Investments | 1.36T | 2.06T | 1.40T | 953.23B | 1.00T | 1.28T |
| Trading Asset Securities | 1.81T | 1.30T | 1.46T | 2.05T | 3.18T | 376.25B |
| Cash & Short-Term Investments | 5.79T | 5.60T | 5.24T | 7.35T | 7.42T | 4.29T |
| Accounts Receivable | 10.91T | 11.77T | 11.30T | 11.22T | 9.68T | 7.60T |
| Other Receivables | 795.60B | 677.60B | 704.30B | 527.06B | 542.11B | 272.38B |
| Receivables | 11.97T | 12.45T | 12.01T | 11.74T | 10.22T | 7.96T |
| Inventory | 11.14T | 10.15T | 9.77T | 8.88T | 9.93T | 7.61T |
| Prepaid Expenses | 467.40B | 416.30B | 431.09B | 440.08B | 366.53B | 756.73B |
| Other Current Assets | 2.97T | 2.10T | 1.81T | 1.13T | 1.82T | 1.42T |
| Total Current Assets | 32.34T | 30.72T | 29.26T | 29.54T | 29.75T | 22.03T |
| Property, Plant & Equipment | 192.40T | 178.85T | 173.23T | 170.14T | 166.58T | 173.13T |
| Long-Term Investments | 16.71T | 15.90T | 13.51T | 11.69T | 10.77T | 9.04T |
| Goodwill | 99.39B | 99.30B | 99.18B | 99.16B | 100.09B | 105.65B |
| Other Intangible Assets | 979.22B | 933.27B | 974.18B | 980.67B | 905.64B | 974.95B |
| Long-Term Accounts Receivable | 2.13T | 2.09T | 2.28T | 1.38T | 1.37T | 1.32T |
| Long-Term Deferred Tax Assets | 12.90T | 12.95T | 13.44T | 13.16T | 10.93T | 1.90T |
| Long-Term Deferred Charges | 62.14B | 68.03B | 72.73B | 53.31B | 51.03B | 69.12B |
| Other Long-Term Assets | 4.12T | 13.32T | 13.94T | 12.67T | 14.35T | 1.72T |
| Total Assets | 262.56T | 254.93T | 246.81T | 239.71T | 234.80T | 211.12T |
| Accounts Payable | 4.40T | 3.54T | 4.49T | 4.34T | 7.53T | 4.78T |
| Accrued Expenses | 3.49T | 3.21T | 3.08T | 2.86T | 2.65T | 2.22T |
| Short-Term Debt | 11.30T | 9.98T | 9.12T | 10.67T | 8.82T | 2.92T |
| Current Portion of Long-Term Debt | 39.36T | 35.91T | 35.32T | 30.45T | 13.84T | 11.11T |
| Current Portion of Leases | 525.09B | 510.11B | 603.49B | 612.76B | 614.04B | 583.56B |
| Current Income Taxes Payable | 1.19T | 1.57T | 970.50B | 482.93B | 429.60B | 229.46B |
| Current Unearned Revenue | 916.68B | 4.62T | 4.35T | 5.98T | 5.33T | 699.58B |
| Other Current Liabilities | 11.80T | 7.76T | 6.04T | 5.85T | 5.30T | 9.19T |
| Total Current Liabilities | 72.99T | 67.11T | 63.97T | 61.25T | 44.52T | 31.73T |
| Long-Term Debt | 82.66T | 83.92T | 88.17T | 92.56T | 97.95T | 66.50T |
| Long-Term Leases | 2.61T | 2.64T | 3.10T | 3.20T | 3.55T | 3.83T |
| Long-Term Unearned Revenue | 13.59T | 13.71T | 13.24T | 11.11T | 10.56T | 9.70T |
| Pension & Post-Retirement Benefits | 1.38T | 1.45T | 1.04T | 828.72B | 1.65T | |
| Long-Term Deferred Tax Liabilities | 6.52T | 6.50T | 5.94T | 5.16T | 6.46T | 7.10T |
| Other Long-Term Liabilities | 32.36T | 30.34T | 29.57T | 28.13T | 28.94T | 25.28T |
| Total Liabilities | 210.72T | 205.60T | 205.44T | 202.45T | 192.80T | 145.80T |
| Common Stock | 3.21T | 3.21T | 3.21T | 3.21T | 3.21T | 3.21T |
| Additional Paid-In Capital | 2.41T | 2.41T | 2.44T | 2.44T | 2.11T | 2.07T |
| Retained Earnings | 30.41T | 28.50T | 20.13T | 16.34T | 21.43T | 45.26T |
| Comprehensive Income & Other | 14.64T | 14.05T | 14.13T | 13.85T | 13.79T | 13.24T |
| Total Common Equity | 50.68T | 48.17T | 39.92T | 35.85T | 40.55T | 63.78T |
| Minority Interest | 1.17T | 1.15T | 1.45T | 1.42T | 1.45T | 1.55T |
| Shareholders' Equity | 51.85T | 49.32T | 41.36T | 37.26T | 42.00T | 65.33T |
| Total Liabilities & Equity | 262.56T | 254.93T | 246.81T | 239.71T | 234.80T | 211.12T |
| Total Debt | 136.45T | 132.96T | 136.31T | 137.49T | 124.77T | 84.94T |
| Net Cash (Debt) | -130.66T | -127.35T | -131.07T | -130.14T | -117.35T | -80.65T |
| Net Cash Per Share | -203,530.35 | -198,382.16 | -204,172.86 | -202,718.22 | -182,805.18 | -125,630.88 |
| Filing Date Shares Outstanding | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M |
| Total Common Shares Outstanding | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M | 641.96M |
| Working Capital | -40.65T | -36.39T | -34.71T | -31.71T | -14.77T | -9.70T |
| Book Value Per Share | 78,938.72 | 75,035.26 | 62,176.74 | 55,836.52 | 63,158.36 | 99,351.78 |
| Tangible Book Value | 49.60T | 47.14T | 38.84T | 34.77T | 39.54T | 62.70T |
| Tangible Book Value Per Share | 77,258.54 | 73,426.81 | 60,504.75 | 54,154.46 | 61,591.71 | 97,668.51 |
| Land | 15.01T | 14.81T | 14.52T | 14.37T | 14.24T | 14.08T |
| Buildings | 123.50T | 120.67T | 115.57T | 111.03T | 107.05T | 101.20T |
| Machinery | 134.29T | 130.61T | 126.37T | 117.20T | 111.96T | 104.02T |
| Construction In Progress | 39.42T | 36.53T | 31.06T | 31.84T | 27.91T | 30.04T |
Cash flow statement
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 7.84T | 8.54T | 3.49T | -4.82T | -24.47T | -5.30T |
| Depreciation & Amortization | 13.52T | 13.67T | 13.88T | 12.92T | 12.35T | 11.94T |
| Other Amortization | 116.37B | 116.37B | 113.24B | 110.35B | 107.36B | |
| Loss (Gain) From Sale of Assets | -156.09B | -144.37B | 26.00B | 66.42B | -16.38B | 244.61B |
| Asset Writedown & Restructuring Costs | 146.93B | 145.03B | 207.84B | 216.59B | 63.65B | 4.04B |
| Loss (Gain) From Sale of Investments | -754.56B | -767.24B | -996.44B | -755.06B | -1.31T | -15.53B |
| Loss (Gain) on Equity Investments | -208.97B | -494.78B | ||||
| Provision & Write-off of Bad Debts | 149.31B | 83.00B | 60.31B | 101.55B | 30.00B | 67.24B |
| Other Operating Activities | 3.76T | 4.61T | 2.88T | -1.18T | -6.72T | 360.55B |
| Change in Accounts Receivable | -254.87B | -436.84B | 2.70B | -1.48T | -1.91T | -216.73B |
| Change in Inventory | -3.00T | -1.57T | -1.41T | 147.80B | -3.00T | -1.74T |
| Change in Accounts Payable | 654.62B | -957.47B | 109.21B | -3.15T | 2.78T | 2.14T |
| Change in Other Net Operating Assets | -3.73T | -2.42T | -2.49T | -650.52B | -1.38T | -2.50T |
| Operating Cash Flow | 18.08T | 20.88T | 15.88T | 1.52T | -23.48T | 4.49T |
| Capital Expenditures | -16.48T | -15.83T | -14.22T | -13.91T | -12.35T | -12.69T |
| Sale of Property, Plant & Equipment | 527.65B | 507.67B | 431.33B | 338.35B | 654.13B | 278.00B |
| Cash Acquisitions | -3.06B | -3.06B | -2.74B | -25.85B | -31.35B | -63.49B |
| Sale (Purchase) of Intangibles | -127.35B | -98.88B | -91.42B | -74.68B | -80.23B | -113.04B |
| Sale (Purchase) of Real Estate | 515.00M | |||||
| Investment in Securities | 693.40B | -2.75T | -136.84B | 755.49B | -2.62T | 461.73B |
| Other Investing Activities | -453.93B | -307.12B | -131.48B | -70.10B | -231.92B | -243.74B |
| Investing Cash Flow | -15.96T | -18.45T | -14.09T | -13.07T | -14.95T | -12.37T |
| Short-Term Debt Issued | 948.20B | 1.84T | 5.85T | 1.62T | ||
| Long-Term Debt Issued | 24.86T | 23.27T | 21.84T | 43.59T | 17.39T | |
| Total Debt Issued | 22.03T | 25.81T | 23.27T | 23.68T | 49.45T | 19.01T |
| Short-Term Debt Repaid | -1.54T | |||||
| Long-Term Debt Repaid | -28.30T | -25.95T | -11.56T | -10.82T | -9.93T | |
| Lease Payments | -549.65B | -549.65B | -612.83B | -574.24B | -562.65B | |
| Total Debt Repaid | -22.93T | -28.30T | -27.49T | -11.56T | -10.82T | -9.93T |
| Net Debt Issued (Repaid) | -902.01B | -2.49T | -4.22T | 12.12T | 38.63T | 9.08T |
| Dividends Paid | -839.27B | -825.54B | ||||
| Other Financing Activities | 161.90B | -143.95B | 369.85B | 543.20B | 366.73B | 179.26B |
| Financing Cash Flow | -1.58T | -2.63T | -3.85T | 12.66T | 39.00T | 8.44T |
| Foreign Exchange Rate Adjustments | 157.63B | 57.73B | 106.38B | -2.18B | 32.90B | 51.72B |
| Net Cash Flow | 696.32B | -142.17B | -1.96T | 1.11T | 599.54B | 605.65B |
| Free Cash Flow | 1.59T | 5.05T | 1.66T | -12.39T | -35.82T | -8.20T |
| Free Cash Flow Margin | 1.63% | 5.18% | 1.78% | -14.04% | -50.27% | -13.51% |
| Free Cash Flow Per Share | 2,483.49 | 7,860.28 | 2,585.94 | -19,294.24 | -55,804.33 | -12,766.05 |
| Levered Free Cash Flow | 690.14B | 4.30T | -395.30B | -8.16T | -22.63T | -5.28T |
| Unlevered Free Cash Flow | 3.29T | 6.98T | 2.50T | -5.37T | -20.90T | -4.09T |
| Free Cash Flow After Leases | 1.04T | 4.50T | 1.05T | -12.96T | -36.39T | -8.20T |
| Cash Interest Paid | 4.19T | 4.39T | 4.70T | 4.25T | 2.52T | 1.93T |
| Cash Income Tax Paid | 1.91T | 1.33T | 792.31B | 566.41B | 448.86B | 736.76B |
| Change in Working Capital | -6.33T | -5.38T | -3.79T | -5.14T | -3.51T | -2.31T |
Ratios
Fiscal year January - December; amounts in KRW.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 14.27B | 20.99B | 8.71B | 9.36B | 11.13B | 11.91B |
| Enterprise Value | 112.30B | 109.30B | 96.27B | 110.70B | 97.27B | 75.91B |
| Last Close Price | 10.34 | 16.50 | 6.71 | 7.02 | 8.37 | 8.85 |
| PE Ratio | 2.33 | 3.55 | 3.69 | |||
| PS Ratio | 0.22 | 0.31 | 0.14 | 0.14 | 0.20 | 0.23 |
| PB Ratio | 0.42 | 0.61 | 0.31 | 0.33 | 0.33 | 0.22 |
| P/TBV Ratio | 0.44 | 0.64 | 0.33 | 0.35 | 0.35 | 0.23 |
| P/FCF Ratio | 11.78 | 6.00 | 7.75 | |||
| P/OCF Ratio | 1.04 | 1.45 | 0.81 | 7.97 | 3.16 | |
| EV/Sales Ratio | 1.78 | 1.62 | 1.52 | 1.63 | 1.72 | 1.49 |
| EV/EBITDA Ratio | 6.81 | 5.91 | 6.55 | 18.30 | 14.97 | |
| EV/EBIT Ratio | 13.94 | 11.70 | 17.00 | |||
| EV/FCF Ratio | 94.46 | 31.27 | 85.66 | |||
| Debt / Equity Ratio | 2.63 | 2.70 | 3.29 | 3.69 | 2.97 | 1.30 |
| Debt / EBITDA Ratio | 5.36 | 4.89 | 6.13 | 16.41 | 14.07 | |
| Debt / FCF Ratio | 85.59 | 26.35 | 82.11 | |||
| Net Debt / Equity Ratio | 2.52 | 2.58 | 3.17 | 3.49 | 2.79 | 1.24 |
| Net Debt / EBITDA Ratio | 5.13 | 4.77 | 6.04 | 16.59 | -5.64 | 13.36 |
| Net Debt / FCF Ratio | 81.95 | 25.24 | 78.95 | -10.51 | -3.28 | -9.84 |
| Asset Turnover | 0.38 | 0.39 | 0.38 | 0.37 | 0.32 | 0.29 |
| Inventory Turnover | 7.84 | 8.12 | 8.81 | 9.56 | 11.53 | 8.89 |
| Quick Ratio | 0.24 | 0.27 | 0.27 | 0.31 | 0.40 | 0.38 |
| Current Ratio | 0.44 | 0.46 | 0.46 | 0.48 | 0.67 | 0.69 |
| Return on Equity (ROE) | 16.59% | 19.11% | 9.21% | -11.90% | -45.53% | -7.67% |
| Return on Assets (ROA) | 3.03% | 3.36% | 2.15% | -1.20% | -9.15% | -1.78% |
| Return on Invested Capital (ROIC) | 5.22% | 5.78% | 3.39% | -2.78% | -21.39% | -4.12% |
| Return on Capital Employed (ROCE) | 6.60% | 7.20% | 4.60% | -2.50% | -17.20% | -3.30% |
| Earnings Yield | 42.96% | 28.20% | 27.13% | -39.75% | -174.83% | -37.39% |
| FCF Yield | 8.49% | 16.65% | 12.90% | -102.09% | -255.98% | -57.77% |
| Dividend Yield | 3.92% | 3.27% | 1.06% | |||
| Total Shareholder Return | 3.90% | 3.27% | 1.06% |