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KEPCO's maintenance arm, servicing nuclear, thermal and renewable power plants across South Korea.
KEPCO's maintenance arm, servicing nuclear, thermal and renewable power plants across South Korea.
Is paid under multi-year maintenance contracts from KEPCO group generators and Korea Hydro & Nuclear Power at rates agreed with them, so it works like an in-house maintenance arm run as a separate listed company. KEPCO is the majority shareholder.
Moat: narrow (regulatory licence, installed base). Near-exclusive maintenance provider for Korea's nuclear and KEPCO thermal fleet.
Headquarters: Naju, South Korea · Founded: 1984 · Employees: 6,485
Size Kepco Kps (051600.KS) is a South Korea Industrials company (Engineering & Construction) with a market value of $1.37B, the 185th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩41,300 on 6 Nov 2026.
Performance Over six months the shares fell 33.6%, against -15.7% for the median peer and -24.5% for the South Korea market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +6.5%); the operating margin is 9.1% (peer median 6.2%).
Valuation It trades at 12.6× forward earnings against a peer median of 9.9× (7th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.7 points above its cost of capital (5.5% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩1.62T | ₩1.58T | ₩1.56T | ₩1.53T | ₩1.43T |
| Revenue growth | — | +1% | +2% | +7% | — |
| Gross profit | ₩256B | ₩243B | ₩299B | ₩288B | ₩234B |
| EBITDA | ₩212B | ₩205B | ₩274B | ₩252B | ₩179B |
| Net income | ₩130B | ₩124B | ₩172B | ₩163B | ₩100B |
| Free cash flow | ₩30.0B | ₩73.9B | ₩491B | -₩79.3B | ₩43.4B |
| Capital expenditure | ₩55.1B | ₩65.3B | ₩51.9B | ₩43.8B | ₩40.3B |
| Total debt | ₩8.27B | ₩10.4B | ₩12.3B | ₩8.07B | ₩9.55B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Kepco Kps 051600.KS | $1.37B | -34% | +6% | 9% | 12.6× | -6.1% |
| Doosan Enerbility 034020.KS | $21.1B | -65% | +9% | 5% | 82.3× | 22.7% |
| Kepco E&c 052690.KS | $2.07B | -61% | +8% | 10% | 45.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 051600.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | -5.2% | 9th lowest of 21 |
| 6-month return | -33.6% | -15.7% | 2nd lowest of 21 |
| Distance from 52-week high | -40.1% | -33.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +6.4% | +6.5% | 11th highest of 21 |
| Operating margin | 9.1% | 6.2% | 8th highest of 21 |
| Forward P/E | 12.6× | 9.9× | 7th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | -6.1% | -5.0% | 6th least demanding of 12 |
| Growth delivered (Del g) | +3.9% | +3.2% | 6th highest of 12 |
| Hurdle (Req g minus delivered) | -9.9 pp | -7.7 pp | 6th least demanding of 12 |
| ROIC minus cost of capital | +4.7 pp | -1.5 pp | 6th highest of 21 |
| EV / EBITDA | 7.4× | 12.0× | 4th cheapest of 9 |
| Net debt / EBITDA | -1.3× | 0.7× | 3rd least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kepco Kps 051600.KS | South Korea | $1.37B | -34% | +6% | 9% | 12.6× | -6.1% | +3.9% |
| Farglory Land Development 5522.TW | Taiwan | $1.34B | -18% | +164% | 26% | 7.7× | -13.6% | +3.0% |
| Beijing Gehua CATV Network 600037.SS | China | $1.40B | -16% | +24% | -5% | 39.4× | n/a | n/a |
| VA Tech Wabag WABAG.NS | India | $1.32B | +33% | +20% | 11% | 27.1× | 34.6% | +6.8% |
| Zhejiang Construction Investment 002761.SZ | China | $1.42B | -14% | -12% | 0% | n/a | 13.0% | +0.4% |
| Jiangxi Ganyue Expressway 600269.SS | China | $1.44B | -7% | +3% | 28% | n/a | -11.6% | +4.4% |
| Zhejiang Communications Technology 002061.SZ | China | $1.30B | -15% | -12% | 3% | 8.0× | -6.5% | +4.8% |
| Taiwan Cogeneration 8926.TW | Taiwan | $1.30B | +9% | +324% | 8% | n/a | n/a | n/a |
| Kumagai Gumi 1861.T | Japan | $1.30B | -20% | -4% | 6% | 9.0× | -9.2% | +1.6% |
| Lloyds Engineering Works LLOYDSENGG.NS | India | $1.29B | +36% | +83% | 11% | n/a | n/a | n/a |
| Shenzhen Urban Transport Technology 301091.SZ | China | $1.29B | -23% | +17% | 2% | 79.8× | n/a | n/a |
| Shaanxi Construction Engineering 600248.SS | China | $1.45B | -25% | -25% | 0% | 2.7× | n/a | n/a |
| Nippon Densetsu Kogyo 1950.T | Japan | $1.29B | -30% | +10% | 12% | 9.9× | -0.1% | +3.2% |
| Hongrun Construction 002062.SZ | China | $1.45B | -11% | -12% | 7% | 31.6× | 5.6% | -12.6% |
| CTCI 9933.TW | Taiwan | $1.29B | +22% | -22% | 9% | 8.5× | n/a | n/a |
| SRG Global SRG.AX | Australia | $1.46B | +7% | +27% | 7% | 22.1× | 16.4% | +24.1% |
| JiShi Media 601929.SS | China | $1.25B | -18% | -2% | -24% | n/a | n/a | n/a |
| Ruentex Engineering & Construction 2597.TW | Taiwan | $1.50B | +5% | +20% | 14% | n/a | -5.0% | +16.8% |
| Dl E&c 375500.KS | South Korea | $1.53B | -48% | -17% | 4% | 5.2× | -8.3% | -5.3% |
| Lendlease LLC.AX | Australia | $1.23B | -16% | -30% | 0% | 147.4× | n/a | n/a |
| Xinjiang Communications Construction 002941.SZ | China | $1.22B | -20% | +23% | 5% | n/a | n/a | n/a |