Shareholders being diluted. Shares outstanding up 24% from December 2022 to July 2026.
Eastman Kodak had 24% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Eastman Kodak had 24% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay outran buybacks. Stock-based pay expense $18M vs $8M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Eastman Kodak recorded $18M of stock-based pay expense and spent $8M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Eastman Kodak recorded $18M of stock-based pay expense and spent $8M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Earnings slid into a loss. Loss per share this year after a profit last year.
Eastman Kodak made a loss per share in its latest year after a profit the year before.
Valuation signals disagree. Cheaper than 95% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Eastman Kodak looks cheaper than 95% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
StockQuotient Score
42/ 100▲ 1 since Oct 27 closeOct 5 41 → Nov 4 42 (+1)
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 74 → 76
Share price -8.3%+2
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-11.1%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294
EBITDA yield9.3%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.56Sector median: 0.0695 · MAD: 0.0425
Free cash flow yield54.7%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingOutlier capped at sector 5th/95th percentile20% base weight · Z-score 6.35Sector median: 0.0370 · MAD: 0.0370
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Eastman Kodak
Is Eastman Kodak getting weaker?
Its latest SEC filing (Aug 4, 2026) showed no major changes. Its overall score is 42/100, up 1 since Oct 28, 2026.
How is Eastman Kodak valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 76/100 against 2,459 industrials peers.Free cash flow yield 54.7% vs a peer median of 3.7% (stronger than 95% of peers).Free cash flow yield 54.7% vs peers 3.7% (stronger than 95% of peers).Earnings yield -11.1% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -11.1% vs peers 3.8% (weaker than 100% of peers).
Is Eastman Kodak growing?
More slowly than most of its peers. Growth scores 26/100 against 2,459 industrials peers.Revenue growth 9.5% vs a peer median of 4.4% (stronger than 68% of peers).Revenue growth 9.5% vs peers 4.4% (stronger than 68% of peers).3-year revenue growth -0.9% vs a peer median of 4.2% (weaker than 72% of peers).3-year revenue growth -0.9% vs peers 4.2% (weaker than 72% of peers).
How profitable is Eastman Kodak?
Less profitable than most of its peers. Profitability scores 14/100 against 2,459 industrials peers.Return on assets -6.2% vs a peer median of 3.1% (weaker than 100% of peers).Return on assets -6.2% vs peers 3.1% (weaker than 100% of peers).
How risky is Eastman Kodak?
Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings.Current ratio 2.91× vs a peer median of 1.62× (stronger than 83% of peers).Current ratio 2.91× vs peers 1.62× (stronger than 83% of peers).Beta 1.57 vs a peer median of 0.64 (weaker than 95% of peers).Beta 1.57 vs peers 0.64 (weaker than 95% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026
No major changes
Worth watching: Eastman Kodak is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.
Previous quarter
Latest quarter
Change
Revenue (12 months)
1.1B USD
1.1B USD
+4.4%
Net income (12 months)
−137.0M USD
−94.0M USD
−31.4%
Operating margin
1.1%
2.8%
+1.7 pts
Free cash flow (12 months)
460.0M USD
464.0M USD
+0.9%
Debt
160.0M USD
110.0M USD
−31.3%
Cash
299.0M USD
290.0M USD
−3.0%
Shares outstanding
97.6M
97.9M
+0.3%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Industry valuation context
Sector: Industrials · 318 companies
Valuations in Industrials are near the top of their range since 2016.
85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.
2016Shaded: most expensive fifth of its range2026
Eastman Kodak looks cheaper than most of its peers on our valuation measures, while the Industrials sector as a whole is valued high by its own standards since 2016. Both can be true at once.
Shown for Industrials: too few Specialty Business Services companies have a long enough history of their own.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
14.3%
14.1%
18.8%
19.5%
21.7%
▲ 2.2 pts
Operating margin
-4.0%
-2.2%
0.4%
-0.7%
0.0%
▲ 0.7 pts
Net margin
2.1%
2.2%
6.7%
9.8%
-12.0%
▼ 22 pts
Return on assets (ROA)
1.1%
1.1%
3.2%
5.1%
-7.9%
▼ 13 pts
Return on equity (ROE)
3.1%
2.5%
8.1%
15.9%
-20.8%
▼ 37 pts
Free cash flow margin
-5.9%
-12.2%
0.5%
-6.0%
41.7%
▲ 48 pts
Current ratio
2.61×
2.32×
2.52×
2.28×
3.14×
▲ 38%
Quick ratio
1.90×
1.52×
1.75×
1.44×
2.32×
▲ 61%
Debt to equity
0.33×
0.30×
0.49×
0.73×
0.34×
▼ 53%
Interest coverage
-1.39×
-0.65×
0.08×
-0.12×
0.00×
▲ 100%
KODK price history
Price history is added with the daily price update and will appear after the next one.