Financials Korea Electric Power Corporation

Equities

A015760

KR7015760002

Electric Utilities

End-of-day quote Korea S.E. 06:00:00 2024-04-25 pm EDT 5-day change 1st Jan Change
21,050 KRW +0.72% Intraday chart for Korea Electric Power Corporation +4.47% +11.38%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 17,846,601 17,589,816 14,187,406 13,994,817 12,133,121 13,513,344 - -
Enterprise Value (EV) 2 82,496 82,850 76,183 13,995 12,133 139,010 136,245 130,204
P/E ratio -7.61 x 8.83 x -2.67 x -0.57 x - 3.03 x 2.89 x 2.41 x
Yield - 4.44% - - - 6.38% 9.18% 12.1%
Capitalization / Revenue 0.3 x 0.3 x 0.23 x 0.2 x 0.14 x 0.15 x 0.14 x 0.14 x
EV / Revenue 1.4 x 1.41 x 1.26 x 0.2 x 0.14 x 1.5 x 1.45 x 1.36 x
EV / EBITDA 8.37 x 5.3 x 12.5 x -0.69 x - 6.26 x 6.11 x 5.47 x
EV / FCF -14.3 x -1,138 x -9.3 x - - 187 x 110 x 56.7 x
FCF Yield -7.01% -0.09% -10.8% - - 0.54% 0.91% 1.76%
Price to Book 0.26 x 0.25 x 0.22 x - - 0.34 x 0.31 x 0.27 x
Nbr of stocks (in thousands) 641,964 641,964 641,964 641,964 641,964 641,964 - -
Reference price 3 27,800 27,400 22,100 21,800 18,900 21,050 21,050 21,050
Announcement Date 2/28/20 2/19/21 2/24/22 2/24/23 2/23/24 - - -
1KRW in Million2KRW in Billions3KRW
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 59,093 58,569 60,575 71,258 88,205 92,432 94,020 95,784
EBITDA 1 9,852 15,634 6,078 -20,194 - 22,194 22,309 23,822
EBIT 1 -1,357 4,086 -5,860 -32,655 -4,569 9,153 9,093 9,889
Operating Margin -2.3% 6.98% -9.67% -45.83% -5.18% 9.9% 9.67% 10.32%
Earnings before Tax (EBT) 1 -3,233 2,993 -7,085 -33,844 -7,400 5,530 5,824 7,153
Net income 1 -2,306 1,993 -5,315 -24,467 -4,762 4,167 4,411 5,131
Net margin -3.9% 3.4% -8.77% -34.34% -5.4% 4.51% 4.69% 5.36%
EPS 2 -3,654 3,102 -8,279 -38,112 - 6,944 7,274 8,747
Free Cash Flow 3 -5,786,931 -72,821 -8,195,348 - - 744,675 1,236,986 2,295,000
FCF margin -9,792.96% -124.33% -13,529.3% - - 805.65% 1,315.66% 2,396.02%
FCF Conversion (EBITDA) - - - - - 3,355.35% 5,544.68% 9,634.04%
FCF Conversion (Net income) - - - - - 17,870.06% 28,044.54% 44,725.45%
Dividend per Share 2 - 1,216 - - - 1,344 1,933 2,554
Announcement Date 2/28/20 2/19/21 2/24/22 2/24/23 2/23/24 - - -
1KRW in Billions2KRW3KRW in Million
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 16,462 15,518 16,464 15,528 - 19,773 19,493 21,594 19,622 24,470 22,519 23,225 20,748 25,004 22,917 26,136
EBITDA 1 2,082 -1,739 -4,664 -3,394 - -4,368 -7,768 - 977.5 5,672 - 6,392 5,143 7,350 4,827 6,278
EBIT 1 -936.7 -4,730 -7,787 -6,516 -14,303 -7,531 -10,821 -6,178 -2,272 1,997 1,884 2,399 1,397 4,027 1,965 2,751
Operating Margin -5.69% -30.48% -47.3% -41.97% - -38.09% -55.51% -28.61% -11.58% 8.16% 8.37% 10.33% 6.74% 16.11% 8.57% 10.53%
Earnings before Tax (EBT) 1 -1,332 -5,092 -8,105 -6,812 - -8,123 -10,803 -6,855 -2,955 1,247 1,163 1,551 631.5 3,011 939.9 1,936
Net income 1 -1,045 -3,660 -5,953 -4,837 - -5,905 -7,771 -4,947 -1,903 793.9 1,294 811 768.2 2,220 909.8 1,405
Net margin -6.35% -23.58% -36.16% -31.15% - -29.87% -39.87% -22.91% -9.7% 3.24% 5.75% 3.49% 3.7% 8.88% 3.97% 5.38%
EPS 2 -1,628 -5,700 -9,273 -7,535 - -9,199 -12,105 -7,705 -2,964 1,237 - 1,026 21.68 2,828 1,148 1,373
Dividend per Share 2 - - - - - - - - - - - - - - 2,230 -
Announcement Date 11/12/21 2/24/22 5/13/22 8/12/22 8/12/22 11/11/22 2/24/23 5/12/23 8/11/23 11/13/23 2/23/24 - - - - -
1KRW in Billions2KRW
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 64,650 65,260 61,996 - - 125,497 122,732 116,691
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 6.562 x 4.174 x 10.2 x - - 5.655 x 5.501 x 4.898 x
Free Cash Flow 2 -5,786,931 -72,821 -8,195,348 - - 744,675 1,236,986 2,295,000
ROE (net income / shareholders' equity) -3.36% 3% -7.69% -45.5% - 11.2% 10.5% 10.8%
ROA (Net income/ Total Assets) -1.2% 1.05% -2.57% - - 1.76% 2.05% 2.35%
Assets 1 191,423 190,691 207,126 - - 236,419 215,607 218,353
Book Value Per Share 3 105,140 107,945 99,334 - - 62,622 68,185 76,999
Cash Flow per Share 3 21,038 28,676 22,538 - - 31,833 30,719 36,840
Capex 1 14,000 13,281 12,669 - - 14,779 16,011 15,387
Capex / Sales 23.69% 22.68% 20.91% - - 15.99% 17.03% 16.06%
Announcement Date 2/28/20 2/19/21 2/24/22 2/24/23 2/23/24 - - -
1KRW in Billions2KRW in Million3KRW
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
16
Last Close Price
21,050 KRW
Average target price
28,220 KRW
Spread / Average Target
+34.06%
Consensus
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