Quality Investor

Eastman Kodak Company

Rank #387StartupWatchlistCompare with other stocks

KODK · NYSE · Industrials

Eastman Kodak Company (KODK) — Rank #387 by gross profitability (GP/assets 0.15) · ROE -20.5% · Piotroski F-Score 7 / 9.

As-of 2026-10-30 · CIK 0000031235 · all metrics point-in-time as of the filing date.

About

Eastman Kodak Company focuses on the commercial print and advanced materials and chemicals businesses worldwide.

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The company operates through three segments: Print, Advanced Materials and Chemicals, and Brand. The Print segment provides digital offset plate offerings and computer-to-plate imaging solutions; digital printing solutions; press systems and components under the PROSPER brand name, as well as print inks and primers under the KODAK OPTIMAX, KODACHROME, and KODAK EKTACOLOR brand names; and PRINERGY, a workflow production software that is used by customers to manage digital and conventional print content from file creation to output. This segment offers its products to commercial industries, including commercial print, direct mail, book publishing, newspapers and magazines, décor, and packaging/labels. The Advanced Materials and Chemicals segment engages in the industrial film and chemicals, motion picture, advanced materials and functional printing, and IP licensing and analytical activities. This segment also comprises the Kodak Research Laboratories, which conducts research, develops new product or new business opportunities, and files patent applications, as well as manages licensing of its intellectual property to third parties. The Brand segment engages in the licensing of Kodak brand to third parties. The company is also involved in the operation of Eastman Business Park, a technology center and industrial complex. It sells its products and services through direct sales, third party resellers, dealers, channel partners, and distributors.

Eastman Kodak Company was founded in 1880 and is headquartered in Rochester, New York.

Industry
Specialty Business Services
Sector
Industrials
State
NJ
Filer Category
Accelerated filer
Fiscal Year End
December 31
Website
kodak.com

Company Snapshot

P/S is the primary valuation lens for pre-profit companies.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

3,500

Industry

Specialty Business Services

Exchange

NYSE

12/12

Flags passed

KODK passes 12/12 quality flags

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

Strengths Revenue growth accelerating · Deferred revenue growing · Sequential beat (rev + EPS)

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.15
Return on equity
-20.5%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.33
Current ratio
2.91×
Net cash
$207.00M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.5%

Growth

2/2 pass
Revenue growth
2.5%
Piotroski F-Score
7 / 9
Share dilution
-5.7%

Burn rate (cash flow) is the primary read at this stage — TAM and product-market fit aren't metrics this dashboard tracks.

Profitability

Does it make money well?

No warning flags · GP/assets 2nd percentile of 41 SIC 38 peers

Gross profitability (GP / assets)

0.15

Primary signal (Novy-Marx).

2nd pctl of 41 SIC 38 peers

Return on equity

-20.5%

Gross margin

21.7%

0th pctl of 41 SIC 38 peers

Revenue growth (YoY)

2.5%

RPO growth (YoY)

-10.6%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-3.9%

Revenue CAGR (5Y)

0.8%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Cash Flow Health

Is the cash real?

No warning flags · FCF 448% above net income

Free cash flow

$446.00M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

448.4%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.5%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $207.00M, F-Score 7/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.33

23rd pctl of 40 SIC 38 peers (best = lowest)

Current ratio

2.91×

56th pctl of 40 SIC 38 peers

Quick ratio

1.77×

Net cash

$207.00M

Cash & equivalents minus total debt.

Piotroski F-Score

7 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Dividend safety

Composite score

1.5 / 5

Weak
Payout ratio
N/A0/5 Weak
FCF coverage
223.00×5/5 Strong
Dividend growth streak
0 yr0/5 Weak
Balance-sheet health
D/E 1.33 · IC 0.00×1/5 Weak

Capital allocation quality

Composite score

3.3 / 5

Good
Share count trend(net buybacks)
-5.7%5/5 Strong
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr0/5 Weak
Net debt trajectory(deleveraging)
30.5%5/5 Strong

Lifecycle Phase History

20202025
Decline
Capital Return
Value
Startup

Price History

KODK+34.1% · +6.0% CAGRSPY+82.9% · +12.8% CAGR