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The Screen · Utilities · Utilities - Regulated Electric
Korea Electric Power Corporation
KEP · the NYSE · USD · Market cap $13.3B
Korea Electric Power Corporation, together with its subsidiaries, engages in the generation, transmission, and distribution of electricity in South Korea and internationally.
FAIL · Does not pass the screen
11.30 USD
Price as of 4 Nov 2026Daily close, not a live quote
Screened 2026-11-04 · the tape above runs as of 18:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price11.30 USD at the 4 Nov 2026 close
Fair value15.00. Our model only; only one analyst covers it, too few to cross-check it.
Our value readUndervalued vs our fair value, as of 4 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 7.85, read 2026-11-03
Ethical does not pass the values gate
Price11.30 USD
Fair value15.00Our model only; only one analyst covers it, too few to cross-check it.
Ethical score70.0/100
Value readUndervaluedas of 4 Nov 2026
Our investment reviews on this name
2026-09-03Read Markdown11.26+0.4% to today Distribution gives way to Markdown after a 12% slide in 9 weeks
2026-07-02Read Distribution12.76-11.4% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Korea Electric Power Corporation holds its Markdown at $11.30. Consolidating, no directional conviction, held for 56 days.
As held on the ledger · 2026-11-04
Phase
Markdown · caution
Quantitative state
Consolidating, no directional conviction, held for 56 days
Price at the screen
$11.30
Valuation
2.46 trailing · 3.67 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.82
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
751,490.76%
Below 33%
Interest-bearing debt is 751,490.8% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
31,671.63%
Below 33%
Interest-bearing cash and securities are 31,671.6% of assets, above the one-third limit.
Fail
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
0.46%
Below 5%
Only 0.5% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Korea Electric Power's business is in a permissible area, but its interest-bearing debt is about 751491% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our model only; only one analyst covers it, too few to cross-check it.
Our analysis reads Undervalued vs our fair value, as of 4 Nov 2026: it trades at roughly a 29% discount to our $15.00 fair value, moderate competitive moat.
Fair value range in USD, drawn from the 2026-11-04 screen. The gold marker is the market price at the same screen. A 24.7% discount to the base estimate.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Where our models see it going: fair-value estimate $15.00, with a range of $15.00 to $21.18, dated to the 2026-11-04 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
South Korea's power utility carries hidden debt
Electricity reaches every home in Seoul through a state-backed utility that trades like a bargain on the surface. Korea Electric Power shows a forward multiple of just 3 times earnings and sits 41 percent below our fair value estimate. Revenue inches along at 1 percent while profit margins reach 9 percent and return on equity hits 19 percent.
We pass for one clear reason. The ethical screen rejects the debt ratio outright, regardless of the moderate moat or the single analyst target at 16 dollars. Leverage leaves no margin for the regulatory squeezes and fuel price swings that define this business.
A low multiple on a utility often marks peak earnings or structural pressure rather than a genuine discount. Currency moves and policy shifts add further volatility that the balance sheet cannot absorb. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to South Korea and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
KEP trades on the NYSE (the company is based in South Korea). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Markdown$10.59-0.4%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-10-28Markdown$10.63+0.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-10-21Markdown$10.63-3.6%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-10-14Markdown$11.03-0.4%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-10-02Markdown$11.07-1.7%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-09-03Markdown · changed$11.26-3.3%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-08-03Distribution$11.64-8.8%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 8.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-07-18Distribution$12.76+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is momentum reading bearish. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 33%. The street (1 analysts) rates it hold, with a mean price target of $16.
2026-07-03Distribution$12.76+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Distribution$12.76Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
