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EASTMAN KODAK CO

KODK· NYSE· Photographic Equipment & Supplies

Market cap
–
P/FCF
–
EV/Sales
–
FCF margin
41.7%
ROIC, 5 yr avg
–
Revenue, 5 yr CAGR
+0.8%
We record prices for the companies we cover; KODK is not one of them yet.

Company statistics

From the 10-Ks, computed in code · point at a figure for its formula

Profile · FY2025

Market cap
–
Enterprise value
–
Diluted shares
87.0M
Revenue
$1.1B
Free cash flow
$446.0M
Owner earnings
$441.0M

Valuation · FY2025

P/E
–
P/FCF
–
P/Owner earnings
–
EV/Sales
–
EV/FCF
–
P/B
–

Margins · FY2025

Gross
21.7%
Operating
0.0%
Net
-12.0%
Free cash flow
41.7%
Owner earnings
41.3%
Stock pay
0.5%

Returns

ROIC, FY2025
–
ROIC, 5 yr avg
–
ROE, FY2025
-20.8%
ROE, 5 yr avg
1.7%

Growth (CAGR)

Revenue, 3 yr
-3.9%
Revenue, 5 yr
0.8%
Revenue, 9 yr
-4.7%
Diluted EPS, 3 yr
–
Diluted EPS, 5 yr
–
Diluted EPS, 9 yr
–
Free cash flow, 3 yr
–
Free cash flow, 5 yr
–
Free cash flow, 9 yr
–

Financial health · FY2025

Cash and investments
$436.0M
Total debt
$209.0M
Net cash
$227.0M
Debt/Equity
0.3x
Debt/FCF
0.5x

Shareholder returns · FY2025

Dividend yield
–
Payout ratio
–
Buyback yield
–
Shareholder yield
–
Share count, 5 yr
8.7%

Financials: ten years from the 10-Ks

Reported numbers open their filing · computed ones show the formula · ˢ split-adjusted

Revenue

$1.1B

-4.7% a year over 9 years

FY2016: Revenue $1.6BFY2017: Revenue $1.4BFY2018: Revenue $1.3BFY2019: Revenue $1.2BFY2020: Revenue $1.0BFY2021: Revenue $1.1BFY2022: Revenue $1.2BFY2023: Revenue $1.1BFY2024: Revenue $1.0BFY2025: Revenue $1.1B
FY2016FY2025

Margins

Gross21.7%Operating0.0%Net-12.0%

FY2025

FY2016: Gross 24.5%, Operating 6.9%, Net 0.9%FY2017: Gross 15.2%, Operating -14.9%, Net 6.8%FY2018: Gross 13.6%, Operating -8.9%, Net -1.2%FY2019: Gross 14.7%, Operating -8.2%, Net 9.3%FY2020: Gross 13.1%, Operating -7.2%, Net -52.6%FY2021: Gross 14.3%, Operating -4.0%, Net 2.1%FY2022: Gross 14.1%, Operating -2.2%, Net 2.2%FY2023: Gross 18.8%, Operating 0.4%, Net 6.7%FY2024: Gross 19.5%, Operating -0.7%, Net 9.8%FY2025: Gross 21.7%, Operating 0.0%, Net -12.0%
FY2016FY2025

Free cash flow and owner earnings

Free cash flow$446.0MOwner earnings$441.0M

FY2025

FY2016: Free cash flow -$56.0M, Owner earnings -$64.0MFY2017: Free cash flow -$105.0M, Owner earnings -$114.0MFY2018: Free cash flow -$95.0M, Owner earnings -$101.0MFY2019: Free cash flow -$3.0M, Owner earnings -$10.0MFY2020: Free cash flow -$52.0M, Owner earnings -$67.0MFY2021: Free cash flow -$68.0M, Owner earnings -$75.0MFY2022: Free cash flow -$147.0M, Owner earnings -$152.0MFY2023: Free cash flow $6.0M, Owner earnings -$1.0MFY2024: Free cash flow -$63.0M, Owner earnings -$69.0MFY2025: Free cash flow $446.0M, Owner earnings $441.0M
FY2016FY2025

Diluted shares

87.0M

+104.7% over 9 years, net dilution

FY2016: Diluted shares 42.5MFY2017: Diluted shares 42.7MFY2018: Diluted shares 42.7MFY2019: Diluted shares 43.0MFY2020: Diluted shares 57.4MFY2021: Diluted shares 80.5MFY2022: Diluted shares 80.6MFY2023: Diluted shares 90.5MFY2024: Diluted shares 92.3MFY2025: Diluted shares 87.0M
FY2016FY2025

Return on invested capital

–

FY2025

FY2016: ROIC –FY2017: ROIC –FY2018: ROIC –FY2019: ROIC –FY2020: ROIC –FY2021: ROIC -5.9%FY2022: ROIC -1.9%FY2023: ROIC 0.3%FY2024: ROIC -0.7%FY2025: ROIC –
FY2016FY2025

Net cash

$227.0M

$227.0M more cash than debt

FY2016: Net cash $29.0MFY2017: Net cash -$56.0MFY2018: Net cash -$168.0MFY2019: Net cash $122.0MFY2020: Net cash $177.0MFY2021: Net cash $108.0MFY2022: Net cash -$100.0MFY2023: Net cash -$203.0MFY2024: Net cash -$266.0MFY2025: Net cash $227.0M
FY2016FY2025

Every figure, year by year

Fiscal yearFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
The business
Revenue$1.6B$1.4B$1.3B$1.2B$1.0B$1.1B$1.2B$1.1B$1.0B$1.1B
Revenue growth-8.9%-15.6%-4.8%-5.9%-17.1%11.8%4.8%-7.3%-6.6%2.5%
Gross margin24.5%15.2%13.6%14.7%13.1%14.3%14.1%18.8%19.5%21.7%
Operating margin6.9%-14.9%-8.9%-8.2%-7.2%-4.0%-2.2%0.4%-0.7%0.0%
Net income$15.0M$94.0M-$16.0M$116.0M-$541.0M$24.0M$26.0M$75.0M$102.0M-$128.0M
Net margin0.9%6.8%-1.2%9.3%-52.6%2.1%2.2%6.7%9.8%-12.0%
Diluted EPS$0.28$1.76$-0.84$2.23$-9.77$0.27$0.16$0.67$0.90$-1.78
Return on invested capital?–––––-5.9%-1.9%0.3%-0.7%–
Cash
Operating cash flow-$15.0M-$67.0M-$62.0M$12.0M-$35.0M-$47.0M-$116.0M$38.0M-$7.0M$480.0M
Capital expenditure$41.0M$38.0M$33.0M$15.0M$17.0M$21.0M$31.0M$32.0M$56.0M$34.0M
Free cash flow-$56.0M-$105.0M-$95.0M-$3.0M-$52.0M-$68.0M-$147.0M$6.0M-$63.0M$446.0M
Stock-based compensation$8.0M$9.0M$6.0M$7.0M$15.0M$7.0M$5.0M$7.0M$6.0M$5.0M
Owner earnings?-$64.0M-$114.0M-$101.0M-$10.0M-$67.0M-$75.0M-$152.0M-$1.0M-$69.0M$441.0M
Free cash flow per share$-1.32$-2.46$-2.22$-0.07$-0.91$-0.84$-1.82$0.07$-0.68$5.13
Capital allocation
Dividends paid–$10.0M$8.0M$3.0M$22.0M$7.0M$4.0M$4.0M$4.0M$2.0M
Share repurchases$3.0M$1.0M––$0$1.0M$1.0M$0$1.0M$7.0M
Diluted shares42.5M42.7M42.7M43.0M57.4M80.5M80.6M90.5M92.3M87.0M
Share count change?1.4%0.5%0.0%0.7%33.5%40.2%0.1%12.3%2.0%-5.7%
Balance sheet
Cash and equivalents$434.0M$343.0M$233.0M$233.0M$196.0M$362.0M$217.0M$255.0M$201.0M$337.0M
Short-term investments–––––––––$99.0M
Total debt$405.0M$399.0M$401.0M$111.0M$19.0M$254.0M$317.0M$458.0M$467.0M$209.0M
Net debt-$29.0M$56.0M$168.0M-$122.0M-$177.0M-$108.0M$100.0M$203.0M$266.0M-$227.0M
Shareholders' equity-$73.0M$57.0M-$3.0M$99.0M$77.0M$781.0M$1.0B$931.0M$641.0M$614.0M

Latest filings

All on EDGAR
2026-08-048-KEarnings release
2026-08-0410-QQuarterly report
2026-05-078-KEarnings release
2026-05-0710-QQuarterly report
2026-04-09DEF 14AProxy statement
2026-03-1210-KAnnual report
2026-03-128-KEarnings release
2025-11-068-KEarnings release
2025-11-0610-QQuarterly report
2025-08-1110-QQuarterly report

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