(KODK) Eastman Kodak - Overview
Sector: Industrials | Industry: Specialty Business Services | Exchange: NYSE (USA) | Market Cap: 958m USD | Total Return: 67.9% in 12m
Avg Turnover: 12.5M
Rev. Trend: -69.5%
Warnings
Interest Coverage Ratio 0.9 is critical
Altman Z'' 0.30 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Eastman Kodak Company (KODK) is a diversified technology provider specializing in commercial print, advanced materials, and chemical production. The company operates through three primary segments: Print, Advanced Materials and Chemicals, and Brand. Its Print division delivers digital offset plates, computer-to-plate imaging, and proprietary high-speed inkjet systems under the PROSPER brand. The Advanced Materials and Chemicals segment leverages the company’s legacy in film and chemistry to produce industrial films and motion picture stock while managing a significant intellectual property portfolio through Kodak Research Laboratories.
The commercial printing sector is characterized by a shift toward digital inkjet technologies and integrated workflow software to improve efficiency in packaging and publishing. Kodak utilizes a multi-channel distribution model, selling through direct sales forces and third-party resellers to reach global industrial markets. Beyond manufacturing, the company maintains a physical asset base through the Eastman Business Park, a large-scale industrial complex that supports third-party tenants and internal operations.
Investors can evaluate these operational segments and historical performance metrics further on ValueRay.
- Aluminum and energy costs impact digital offset plate manufacturing margins
- Growth in high-speed inkjet systems drives recurring ink and service revenue
- Motion picture film demand remains volatile despite dominance in high-end production
- Advanced Materials segment expansion hinges on successful industrial chemical commercialization
- Intellectual property licensing revenue fluctuates based on third-party brand partnership cycles
| Net Income: -137.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.30 > 0.02 and ΔFCF/TA 35.74 > 1.0 |
| NWC/Revenue: 44.07% < 20% (prev 30.36%; Δ 13.71% < -1%) |
| CFO/TA 0.31 > 3% & CFO 488.0m > Net Income -137.0m |
| Net Debt (-63.0m) to EBITDA (77.0m): -0.82 < 3 |
| Current Ratio: 2.53 > 1.5 & < 3 |
| Outstanding Shares: last quarter (89.8m) vs 12m ago 11.41% < -2% |
| Gross Margin: 22.36% > 18% (prev 0.19%; Δ 2.22k% > 0.5%) |
| Asset Turnover: 62.22% > 50% (prev 53.74%; Δ 8.48% > 0%) |
| Interest Coverage Ratio: 0.89 > 6 (EBITDA TTM 77.0m / Interest Expense TTM 54.0m) |
| A: 0.31 (Total Current Assets 793.0m - Total Current Liabilities 314.0m) / Total Assets 1.56b |
| B: -0.34 (Retained Earnings -537.0m / Total Assets 1.56b) |
| C: 0.03 (EBIT TTM 48.0m / Avg Total Assets 1.75b) |
| D: -0.74 (Book Value of Equity -653.0m / Total Liabilities 885.0m) |
| Altman-Z'' = 0.30 = B |
| DSRI: 0.87 (Receivables 135.0m/149.0m, Revenue 1.09b/1.04b) |
| GMI: 0.86 (GM 22.36% / 19.21%) |
| AQI: 0.57 (AQ_t 0.34 / AQ_t-1 0.58) |
| SGI: 1.04 (Revenue 1.09b / 1.04b) |
| TATA: -0.40 (NI -137.0m - CFO 488.0m) / TA 1.56b) |
| Beneish M = -3.90 (Cap -4..+1) = AAA |
As of May 30, 2026, the stock is trading at USD 9.92 with a total of 1,883,012 shares traded.
Over the past week, the price has changed by +3.01%,
over one month by -25.97%,
over three months by +35.52% and
over the past year by +67.85%.
Eastman Kodak has no consensus analysts rating.
| Analysts Target Price | 1 | -89.9% |
P/S = 0.8817
P/B = 1.5974
Revenue TTM = 1.09b USD
EBIT TTM = 48.0m USD
EBITDA TTM = 77.0m USD
Long Term Debt = 108.0m USD (from longTermDebt, last quarter)
Short Term Debt = 63.0m USD (from shortTermDebt, last quarter)
Debt = 236.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 38.0m
Net Debt = -63.0m USD (calculated: Debt 236.0m - CCE 299.0m)
Enterprise Value = 895.4m USD (958.4m + Debt 236.0m - CCE 299.0m)
Interest Coverage Ratio = 0.89 (Ebit TTM 48.0m / Interest Expense TTM 54.0m)
EV/FCF = 1.95x (Enterprise Value 895.4m / FCF TTM 460.0m)
FCF Yield = 51.37% (FCF TTM 460.0m / Enterprise Value 895.4m)
FCF Margin = 42.32% (FCF TTM 460.0m / Revenue TTM 1.09b)
Net Margin = -12.60% (Net Income TTM -137.0m / Revenue TTM 1.09b)
Gross Margin = 22.36% ((Revenue TTM 1.09b - Cost of Revenue TTM 844.0m) / Revenue TTM)
Gross Margin QoQ = 21.51% (prev 23.10%)
Tobins Q-Ratio = 0.58 (Enterprise Value 895.4m / Total Assets 1.56b)
Interest Expense / Debt = 22.88% (Interest Expense 54.0m / Debt 236.0m)
Taxrate = 21.0% (US default 21%)
NOPAT = 37.9m (EBIT 48.0m * (1 - 21.00%))
Current Ratio = 2.53 (Total Current Assets 793.0m / Total Current Liabilities 314.0m)
Debt / Equity = 0.35 (Debt 236.0m / totalStockholderEquity, last quarter 672.0m)
Debt / EBITDA = -0.82 (Net Debt -63.0m / EBITDA 77.0m)
Debt / FCF = -0.14 (Net Debt -63.0m / FCF TTM 460.0m)
Total Stockholder Equity = 749.0m (last 4 quarters mean from totalStockholderEquity)
RoA = -7.84% (Net Income -137.0m / Total Assets 1.56b)
RoE = -10.65% (Net Income TTM -137.0m / Total Stockholder Equity 1.29b)
RoCE = 3.44% (EBIT 48.0m / Capital Employed (Equity 1.29b + L.T.Debt 108.0m))
RoIC = 2.90% (NOPAT 37.9m / Invested Capital 1.31b)
WACC = 12.45% (E(958.4m)/V(1.19b) * Re(11.06%) + D(236.0m)/V(1.19b) * Rd(22.88%) * (1-Tc(0.21)))
Discount Rate = 11.06% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 11.64 | Cagr: 5.50%
[DCF] Terminal Value 62.50% ; FCFF base≈460.0m ; Y1≈461.9m ; Y5≈489.3m
[DCF] Fair Price = 46.62 (EV 4.49b - Net Debt -63.0m = Equity 4.55b / Shares 97.6m; r=12.45% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: N/A | # QB: 0
Revenue Correlation: -69.47 | Revenue CAGR: -3.01% | SUE: N/A | # QB: 0