KEP (Korea Electric Power) Cyclically Adjusted PB Ratio: (As of Aug. 18, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

KEP Korea Electric Power Corp KEP
65 GF Score
Price $11.81
GF Value $8.14
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Korea Electric Power Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Korea Electric Power  (NYSE:KEP) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Korea Electric Power Cyclically Adjusted PB Ratio Related Terms


Korea Electric Power Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Korea Electric Power's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Korea Electric Power Cyclically Adjusted PB Ratio Chart

Korea Electric Power Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.21 0.20 0.17 0.19 0.45

Korea Electric Power Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.37 0.34 0.45 0.40 0.00

KEP vs NEE, SO, DUK: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, Korea Electric Power's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Korea Electric Power Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Korea Electric Power's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Korea Electric Power's Cyclically Adjusted PB Ratio falls into.


KEP
65GF Score
Korea Electric Power Corp KEP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Korea Electric Power Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Korea Electric Power's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Korea Electric Power's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=0/126.4904*126.4904
=0.000

Current CPI (Jun. 2026) = 126.4904.

Korea Electric Power Quarterly Data

Book Value per Share CPI Adj_Book
201609 49.897 101.461 62.206
201612 47.218 101.561 58.808
201703 48.852 102.851 60.080
201706 49.265 102.611 60.730
201709 50.301 103.491 61.480
201712 51.556 102.991 63.320
201803 51.628 104.101 62.732
201806 49.800 104.130 60.494
201809 49.123 105.651 58.813
201812 48.396 104.351 58.664
201903 47.444 104.491 57.433
201906 45.399 104.881 54.753
201909 44.764 105.200 53.823
201912 44.752 105.121 53.849
202003 43.117 105.354 51.767
202006 43.584 105.112 52.449
202009 45.490 106.198 54.182
202012 49.345 105.765 59.014
202103 47.424 107.357 55.876
202106 47.347 107.579 55.670
202109 44.709 108.759 51.998
202112 41.960 109.676 48.393
202203 37.120 111.848 41.980
202206 32.815 114.072 36.387
202209 27.132 114.715 29.917
202212 24.413 115.179 26.810
202303 21.182 116.507 22.997
202306 20.247 117.182 21.855
202309 20.311 118.964 21.596
202312 21.403 118.837 22.781
202403 21.466 120.123 22.604
202406 20.794 120.007 21.917
202409 22.380 120.861 23.422
202412 21.589 121.135 22.543
202503 22.408 122.590 23.121
202506 24.268 122.611 25.036
202509 26.031 123.402 26.683
202512 25.603 123.939 26.130
202603 26.263 125.236 26.526
202606 0.000 126.490 0.000

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Korea Electric Power (KEP) Overvalued in 2026?

Based on GuruFocus' analysis, Korea Electric Power stock appears to be overvalued. The current stock price of $11.81 is trading 45.1% above its estimated GF Value™ of $8.14. GuruFocus considers Korea Electric Power to be Significantly Overvalued.

Key valuation signals for KEP:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $8.14 vs. price of $11.81 (45.1% above fair value)
  • GF Score™: 65/100 with 3 warning signs

No single metric tells the full story. See the KEP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Korea Electric Power Business Description

Address 55 Jeollyeok-ro, Jeollanam-do, Naju-si, KOR, 58322
Korea Electric Power Corp is an electric utility company in which the government of South Korea holds a controlling stake. The firm operates in the following segments: Transmission and distribution, Electric power generation (Nuclear), Electric power generation (Non-Nuclear), Plant maintenance & engineering service, and Others. The majority of the energy produced by the company comes from its nuclear and coal-fired assets. Korea Electric Power generates revenue through the Transmission and distribution segment. Geographically, it derives maximum revenue from Domestic operations.
65GF Score

Get the complete analysis for KEP

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$11.81
Price
$8.14
GF Value