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Kepco E&c052690.KSCompetitor analysis, valuation and peers

South Korea · KRW·Industrials›Engineering & Construction

Engineering arm of Korea Electric Power Corp, designing nuclear, thermal and renewable power plants domestically and for export.

Momentum laggard 14
Mkt cap
$2.07B
US dollars, full cap
Free float
48%
of shares outstanding
$/day
$11.8M
20-day average traded
Fwd P/E
45.6×
forward earnings
ROIC−WACC
-0.9 pp
WACC 9.0%
Hurdle
n/a
no reverse DCF
Next earnings
138 days
24 Mar 2027
Close · KRW₩73,900
1D-7.0%
1W-14.4%
1M-42.2%
3M-25.4%
6M-60.8%
YTD-17.9%
1Y-31.3%
ATR %9.3%
52w lowhigh62.7% off high

What Kepco E&c does

Engineering arm of Korea Electric Power Corp, designing nuclear, thermal and renewable power plants domestically and for export.

Paid design and engineering fees as milestones are met on multi-year plant projects, mostly for clients within the KEPCO group. Its APR1400 is Korea's own reactor design, exported to the UAE's Barakah plant, so overseas orders add to a domestic base.

Products and services

  • Nuclear plant design (APR1400)
  • Thermal power-plant engineering
  • Renewable-energy engineering

Customers

  • KEPCO
  • Korea Hydro & Nuclear Power
  • Export nuclear-plant buyers (UAE, Czech, Poland)

Where it sits in the supply chain

  • Power engineering
  • Nuclear/thermal plant design and…
  • KEPCO group power-project supply chain

What could go right

  • Export nuclear orders (Czech, Poland)
  • Domestic nuclear restart/new-build

What could go wrong

  • Nuclear project timing/political risk
  • Government energy-policy dependence

Moat: narrow (regulatory licence, IP / patents). Near-sole domestic APR1400 nuclear-design house, close to a monopoly on Korean nuclear engineering.

Headquarters: Gimcheon, South Korea · Founded: 1975 · Employees: 2,466

Named competitors

Kepco E&c at a glance

Size Kepco E&c (052690.KS) is a South Korea Industrials company (Engineering & Construction) with a market value of $2.07B, the 134th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩73,900 on 6 Nov 2026.

Performance Over six months the shares fell 60.8%, against -16.5% for the median peer and -24.5% for the South Korea market (cap-weighted) — lowest of 21 in its peer set.

Growth Revenue grew 8.0% over the last twelve months (peer median +4.1%); the operating margin is 10.4% (peer median 7.7%).

Valuation It trades at 45.6× forward earnings against a peer median of 12.5× (most expensive of 17).

Capital Return on invested capital runs 0.9 points below its cost of capital (9.0% WACC).

Next results Next results expected around 24 Mar 2027 (exchange calendar; dates can move).

Relative performance

40608010011 May 202611 Aug 20266 Nov 2026Peer median 82052690.KS 40
Six months, rebased to 100: Kepco E&c against the median of its 20 peers (local-currency closes).

Kepco E&c financials

Reported figures in KRW; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue₩537B₩519B₩569B₩545B₩505B
Revenue growth—-9%+4%+8%—
Gross profit₩112B₩112B₩146B₩124B₩107B
EBITDA₩76.9B₩57.0B₩91.4B₩47.7B₩33.8B
Net income₩36.0B₩85.4B₩58.5B₩32.7B₩18.0B
Free cash flow-₩24.6B₩24.7B₩44.4B₩38.0B₩5.38B
Capital expenditure₩9.61B₩7.70B₩7.13B₩7.24B₩2.81B
Total debt₩2.21B₩1.20B₩1.57B₩1.39B₩985M

Quarterly statements and history in the cockpit →

Kepco E&c competitor charts

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.

Performance: 6-month against 1-month return

-60%-40%-20%0%+20%-40%-20%0%19809900PAAL-B60182760007266911961MNDIRBNWH1719NBCCGRE1893601778037169443928WBD052690.KS6-month return →1-month return →
Up and to the right = strong over both horizons. Kepco E&c is the large dot.

Fundamentals: revenue growth against valuation

-20%0%+20%+40%+60%20×40×1980PAAL-B60182766911961MNDIRBNWH1719NBCCGRE03716944BDGIWBD052690.KSRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Kepco E&c is the large dot.

Kepco E&c competitors and peer comparison

Head to head with its named competitors (052690.KS vs 034020.KS vs FLR vs 000720.KS)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Kepco E&c 052690.KS$2.07B-61%+8%10%45.6×n/a
Doosan Enerbility 034020.KS$21.1B-65%+9%5%82.3×22.7%
Fluor FLR$6.22B+7%-5%-2%14.2×n/a
HyundaiEng&Const 000720.KS$6.43B-52%-9%3%18.3×n/a
Samsung C&t 028260.KS$31.3B-8%+14%8%15.0×5.9%

How Kepco E&c compares with its peers

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.

Kepco E&c against its 20 peers (data as of 6 Nov 2026)
Measure052690.KSPeer medianRank in peer set
1-month return-42.2%-5.2%lowest of 21
6-month return-60.8%-16.5%lowest of 21
Distance from 52-week high-62.7%-34.9%lowest of 21
Revenue growth (TTM)+8.0%+4.1%8th highest of 21
Operating margin10.4%7.7%10th highest of 21
Forward P/E45.6×12.5×most expensive of 17
ROIC minus cost of capital-0.9 pp-0.1 pp9th lowest of 19
EV / EBITDA35.4×10.2×most expensive of 15
Net debt / EBITDA-1.1×-0.2×8th least indebted of 17

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Kepco E&c 052690.KSSouth Korea$2.07B-61%+8%10%45.6×n/an/a
DAI-DAN 1980.TJapan$2.05B-15%-7%14%10.2×-4.4%+10.2%
Hong Kong Zcloud Technology Construction 9900.HKHong Kong$2.03B+16%-33%0%n/an/an/a
Per Aarsleff Holding A/S PAAL-B.CODenmark$2.02B-6%+14%5%13.4×-7.6%+11.2%
Chongqing Sanfeng Environment 601827.SSChina$2.00B-3%+5%27%10.4×-11.4%+2.4%
CSSC Science & Technology 600072.SSChina$1.99B-35%+8%-37%n/an/an/a
Yankey Engineering 6691.TWTaiwan$2.16B-16%+63%16%9.7×2.8%+33.1%
Sanki Engineering 1961.TJapan$1.98B-12%+2%12%11.5×-6.5%+6.0%
Monadelphous MND.AXAustralia$1.98B-4%+29%5%22.7×5.3%+9.7%
IRB Infrastructure Developers IRB.NSIndia$2.18B-21%-14%27%16.0×9.2%+4.2%
NRW NWH.AXAustralia$1.95B-17%+31%6%13.6×8.5%+14.1%
HAZAMA ANDO 1719.TJapan$1.94B-11%+4%8%9.8×-11.7%+4.5%
Nbcc (india) NBCC.NSIndia$2.23B-19%+4%6%26.0×40.1%+12.9%
Grenergy Renovables GRE.MCSpain$2.24B-40%+8%23%18.9×n/an/a
Penta-Ocean Construction 1893.TJapan$2.25B-29%+7%7%8.9×n/an/a
Jinko Power Technology 601778.SSChina$1.86B-49%-25%16%n/an/an/a
Beijing Enterprises Water 0371.HKHong Kong$1.86B-48%-5%24%9.5×4.2%-1.2%
Mega Union Technology 6944.TWTaiwan$1.82B-17%+60%21%14.1×-4.0%+30.2%
China Next-Gen Commerce and Supply Chain 3928.HKHong Kong$1.81B+47%-26%-17%n/an/an/a
Badger Infrastructure Solutions BDGI.TOCanada$1.80B-10%+16%8%19.2×21.0%+15.8%
Webuild WBD.MIItaly$2.39B-22%+2%-1%6.5×-2.1%+24.4%

Questions

Who are Kepco E&c's main competitors?
Named competitors: Doosan Enerbility (034020.KS), Bechtel (private or unlisted), Westinghouse Electric (private or unlisted), Framatome (private or unlisted), Fluor (FLR), Hyundai Engineering & Construction (000720.KS). The cockpit's measured peer set (industry) also includes DAI-DAN (1980.T), Hong Kong Zcloud Technology Construction (9900.HK), Per Aarsleff Holding A/S (PAAL-B.CO), Chongqing Sanfeng Environment (601827.SS), CSSC Science & Technology (600072.SS), Yankey Engineering (6691.TW).
Is Kepco E&c expensive compared with its peers?
On forward p/e it trades at 45.6× against a peer median of 12.5×, most expensive of 17 in its peer set.
How has Kepco E&c stock performed?
Over six months to 6 Nov 2026 the shares returned -60.8% against -16.5% for the median peer; over one year -31.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.