Eastman Kodak Company (KODK)
NYSE:KODK
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Kodak
(NYSE:KODK)
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Rating:59Neutral
Price Target:
$10.00
▲(24.07% Upside)
Action:Reiterated
Date:05/09/26
The score is driven primarily by strong recent cash generation and a significantly improved balance sheet, reinforced by earnings-call commentary pointing to continued operational progress and deleveraging. Offsetting these positives are ongoing net losses and negative returns, plus near-term technical softness and limited valuation visibility given the non-meaningful P/E and no dividend yield provided.
Positive Factors
Cash Generation
Sustained, strong cash generation (TTM OCF $488M; FCF $466M) provides durable flexibility to fund capital needs, deleveraging and targeted investments in higher‑margin AM&C and pharma capacity. Cash conversion outpacing accounting losses supports operational resilience over months.
Negative Factors
Recurring GAAP Volatility
Quarterly fair‑value remeasurements of the Series B derivative create persistent GAAP earnings volatility that will continue to obscure operational results. This complicates trend analysis, investor comparability and could affect perceptions of credit metrics and covenant calculations over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Sustained, strong cash generation (TTM OCF $488M; FCF $466M) provides durable flexibility to fund capital needs, deleveraging and targeted investments in higher‑margin AM&C and pharma capacity. Cash conversion outpacing accounting losses supports operational resilience over months.
Read all positive factors
Kodak Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Kodak is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Kodak is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyKodak (KODK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$920.37M
Dividend YieldN/A
Average Volume (3M)1.58M
Price to Earnings (P/E)―
Beta (1Y)1.68
Revenue Growth4.42%
EPS Growth-428.47%
CountryUS
Employees3,900
SectorIndustrials
Sector Strength72
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-1.87
Shares Outstanding97,600,000
10 Day Avg. Volume1,294,705
30 Day Avg. Volume1,578,509
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.07
Price to Sales (P/S)0.71
P/FCF Ratio1.70
Enterprise Value/Market Cap0.89
Enterprise Value/Revenue0.75
Enterprise Value/Gross Profit3.37
Enterprise Value/Ebitda-28.25
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kodak Business Overview & Revenue Model
Company Description
Eastman Kodak Company provides hardware, software, consumables, and services to customers in the commercial print, packaging, publishing, manufacturing, and entertainment markets worldwide. The company operates through Traditional Printing, Digita...
How the Company Makes Money
Kodak primarily makes money by selling products and services used in the commercial printing ecosystem, with revenue generated across a mix of equipment, recurring consumables, and services. A core portion of its revenue comes from its Print segme...
Kodak Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call emphasized consistent operational improvement: revenue (+7%), gross profit (+24%), and operational EBITDA (+$13M) growth for the third consecutive quarter, product launches, investments in pharma and R&D, and continued deleveraging (net debt positive). Offsetting these positives are a larger GAAP net loss driven by recurring derivative fair-value adjustments, reduced pension income versus prior year, non-cash stock-based compensation, higher inventory and a $38M decline in cash, and ongoing commodity and supply-chain pressures. On balance, operational progress and balance-sheet improvements outweigh the accounting-driven and working-capital headwinds.Positive Updates
Revenue Growth
Consolidated revenue of $265 million, up $18 million or 7% year-over-year (from $247 million). On a constant currency basis revenue grew $11 million or 4%. Revenue increases were reported in both Print and Advanced Materials & Chemicals (AM&C).
Negative Updates
Widening GAAP Net Loss
GAAP net loss of $16 million versus a GAAP net loss of $7 million in Q1 2025 (worsened by $9 million year-over-year).
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Consolidated revenue of $265 million, up $18 million or 7% year-over-year (from $247 million). On a constant currency basis revenue grew $11 million or 4%. Revenue increases were reported in both Print and Advanced Materials & Chemicals (AM&C).
Read all positive updates
Company Guidance
Management guided to continue driving year‑over‑year growth in revenue, gross profit and operational EBITDA—building on Q1 results of $265M revenue (+7% / +$18M YoY; +$11M / +4% constant currency), $57M gross profit (+24% / +$11M; 22% margin vs 19% prior) and $15M operational EBITDA (vs $2M prior, +$13M)—while strengthening the balance sheet (Q1 unrestricted cash $299M, net‑debt‑positive position improved from $128M to $139M, and a $50M term‑loan repayment in March). They expect continued investment in AM&C and Print (AM&C +$2M / +3%; Print +9%), plan a Q2 plant shutdown for which inventory was built (+$38M inventory, $35M in AM&C), and reiterated that quarterly GAAP volatility will persist from recurring fair‑value remeasurements of the Series B derivative (Q1 $12M charge), lower pension income each quarter in 2026 (Q1 non‑cash pension income $4M, down $18M YoY), and non‑cash stock‑based compensation (~$5M), while continuing to pursue Class II pharma certification and operational execution.Kodak Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
63
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.09B | 1.07B | 1.04B | 1.12B | 1.21B | 1.15B |
| Gross Profit | 243.00M | 232.00M | 203.00M | 213.00M | 173.00M | 164.00M |
| EBITDA | -29.00M | 54.00M | 197.00M | 195.00M | 114.00M | 87.00M |
| Net Income | -137.00M | -128.00M | 102.00M | 75.00M | 26.00M | 24.00M |
Balance Sheet | ||||||
| Total Assets | 1.56B | 1.66B | 2.00B | 2.35B | 2.29B | 2.17B |
| Cash, Cash Equivalents and Short-Term Investments | 299.00M | 337.00M | 201.00M | 255.00M | 217.00M | 362.00M |
| Total Debt | 198.00M | 250.00M | 499.00M | 495.00M | 363.00M | 312.00M |
| Total Liabilities | 885.00M | 944.00M | 1.14B | 1.21B | 1.04B | 1.19B |
| Stockholders Equity | 672.00M | 713.00M | 859.00M | 1.14B | 1.24B | 977.00M |
Cash Flow | ||||||
| Free Cash Flow | 460.00M | 446.00M | -63.00M | 6.00M | -147.00M | -68.00M |
| Operating Cash Flow | 488.00M | 480.00M | -7.00M | 38.00M | -116.00M | -47.00M |
| Investing Cash Flow | 20.00M | -29.00M | -39.00M | -32.00M | -56.00M | -20.00M |
| Financing Cash Flow | -366.00M | -314.00M | -23.00M | 85.00M | 43.00M | 238.00M |
Kodak Technical Analysis
Negative
8.06
Price Trends
10.82
Negative
9.20
Positive
8.04
Positive
Market Momentum
-0.59
Positive
33.43
Neutral
4.03
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KODK, the sentiment is Negative. The current price of 8.06 is below the 20-day moving average (MA) of 11.93, below the 50-day MA of 10.82, and above the 200-day MA of 8.04, indicating a neutral trend. The MACD of -0.59 indicates Positive momentum. The RSI at 33.43 is Neutral, neither overbought nor oversold. The STOCH value of 4.03 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KODK.
Kodak Risk Analysis
Kodak disclosed 43 risk factors in its most recent earnings report. Kodak reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kodak Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
63 Neutral | $443.34M | -7.37 | -3.42% | ― | -3.31% | -73.22% | |
63 Neutral | $596.32M | 15.95 | 14.44% | 2.98% | -3.39% | 71.37% | |
59 Neutral | $920.37M | -12.70 | -18.29% | ― | 4.42% | -428.47% | |
56 Neutral | $387.73M | 12.71 | 24.97% | 4.69% | -10.40% | ― | |
53 Neutral | $672.71M | ― | 0.21% | ― | -36.17% | ― | |
48 Neutral | $911.95M | -1.79 | -1095.64% | ― | ― | ― |
* Industrials Sector Average
KODK
Kodak
9.43
3.33
54.59%
ACTG
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4.59
0.81
21.43%
CASS
Cass Information Systems
46.33
4.88
11.78%
QUAD
Quad/Graphics
7.52
2.21
41.57%
SPIR
Spire Global
20.08
8.43
72.36%
RHLD
Resolute Holdings Management, Inc.
110.44
75.81
218.91%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.