Eastman Kodak Co Stock Research

Market Summary

USD3.77+0.06

Market Closed

1.62%

KODK Stock Price

KODK RSI Chart

KODK Valuation

Market Cap

297.8M

Price/Earnings (Trailing)

22.91

Price/Sales (Trailing)

0.25

EV/EBITDA

0.99

Price/Free Cashflow

-1.71

KODK Price/Sales (Trailing)

KODK Profitability

EBT Margin

1.16%

Return on Equity

1.44%

Return on Assets

0.58%

Free Cashflow Yield

-58.42%

KODK Fundamentals

KODK Revenue

Revenue (TTM)

1.2B

Revenue Y/Y

0.7%

Revenue Q/Q

-9.97%

KODK Earnings

Earnings (TTM)

13.0M

Earnings Y/Y

-75%

Earnings Q/Q

-90%

Price Action

52 Week Range

2.787.50

(Low)(High)

Last 7 days

10.9%

Last 30 days

6.8%

Last 90 days

22.0%

Trailing 12 Months

-40.9%

KODK Financial Health

Current Ratio

2.35

KODK Investor Care

Shares Dilution (1Y)

0.51%

Diluted EPS (TTM)

-0.02

Peers (Alternatives to Eastman Kodak)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.5T	387.5B	7.56%	-5.75%	26.58	6.53	2.44%	-5.35%
HPQ	27.5B	59.8B	-3.72%	-25.53%	10.56	0.46	-7.84%	-60.07%
NTAP	13.3B	6.5B	-6.05%	-27.40%	10.29	2.05	4.33%	27.27%
STX	12.7B	9.4B	-7.77%	-31.65%	20.62	1.36	-21.90%	-66.38%
WDC	11.3B	15.8B	-11.81%	-27.44%	-121.15	0.72	-16.84%	-104.67%
MID-CAP
JNPR	10.4B	5.3B	2.32%	-7.59%	22.07	1.96	11.95%	86.39%
PSTG	7.4B	2.7B	-16.89%	-29.02%	544.72	2.78	34.27%	106.43%
SMCI	6.2B	6.6B	31.29%	173.05%	10.67	0.93	59.38%	362.85%
NCR	3.0B	7.8B	-17.19%	-46.43%	50.09	0.38	9.61%	-38.14%
XRX	2.3B	7.1B	-9.00%	-21.90%	-7.15	0.32	0.98%	29.23%
SMALL-CAP
DDD	1.3B	556.2M	-3.35%	-36.13%	-12.76	2.37	-12.75%	-133.51%
AVID	1.3B	417.4M	-0.50%	-16.45%	23.62	3.13	1.82%	33.47%
KODK	297.8M	1.2B	6.80%	-40.91%	22.91	0.25	5.88%	-74.00%
DBD	66.4M	3.6B	-69.89%	-88.07%	-0.14	0.02	-10.12%	-413.74%
BOXL	24.2M	223.0M	-43.93%	-71.76%	-2.73	0.11	34.40%	-552.06%

Financials for Eastman Kodak

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	0.2%	1,207	1,205	1,175	1,150	1,140
Gross Profit	0%	160	160	157	164	178
S&GA Expenses	-2.3%	169	173	174	177	165
R&D Expenses	0%	35.00	35.00	34.00	33.00	33.00
EBITDA	-4.6%	83.00	87.00	88.00	92.00	-
EBITDA Margin	-4.8%	0.07*	0.07*	0.07*	0.08*	-
Earnings Before Taxes	-30.0%	14.00	20.00	20.00	28.00	53.00
EBT Margin	-30.1%	0.01*	0.02*	0.02*	0.02*	-
Interest Expenses	2.6%	39.00	38.00	38.00	33.00	24.00
Net Income	-31.6%	13.00	19.00	15.00	24.00	50.00
Net Income Margin	-31.7%	0.01*	0.02*	0.01*	0.02*	-
Free Cahsflow	-13.0%	-174	-154	-99.00	-68.00	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-2.2%	2,259	2,309	2,187	2,171	1,535
Current Assets	-11.3%	699	788	790	807	836
Cash Equivalents	-25.3%	216	289	309	362	380
Inventory	4.2%	273	262	247	219	240
Net PPE	1.4%	147	145	147	140	140
Goodwill	0%	12.00	12.00	12.00	12.00	12.00
Liabilities	-4.3%	1,157	1,209	1,207	1,194	1,196
Current Liabilities	-6.6%	297	318	334	309	312
LT Debt, Current	0%	1.00	1.00	1.00	1.00	2.00
LT Debt, Non Current	1.3%	312	308	256	253	250
Shareholder's Equity	0%	901	901	782	781	144
Retained Earnings	0.3%	-577	-579	-599	-596	-590
Additional Paid-In Capital	-0.2%	1,162	1,164	1,165	1,166	1,166
Accumulated Depreciation	-0.7%	440	443	446	441	440
Shares Outstanding	0.1%	79.00	79.00	79.00	79.00	-

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-11.6%	-144	-129	-74.00	-47.00	-20.00
Share Based Compensation	-16.7%	5.00	6.00	6.00	7.00	3.00
Cashflow From Investing	-129.2%	-55.00	-24.00	-24.00	-20.00	-13.00
Cashflow From Financing	-2.3%	43.00	44.00	-5.00	238	240
Dividend Payments	0%	4.00	4.00	7.00	9.00	-
Buy Backs	0%	1.00	1.00	-	-	-

Risks for KODK

What is the probability of a big loss on KODK?

100%

Probability that Eastman Kodak stock will be more than 20% underwater in next one year

100%

Probability that Eastman Kodak stock will be more than 30% underwater in next one year.

95.4%

Probability that Eastman Kodak stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does KODK drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Eastman Kodak was unfortunately bought at previous high price.

Drawdowns

Returns for KODK

Cumulative Returns on KODK

29.5%

10-Year Cumulative Returns

-14.7%

7-Year Cumulative Returns

-5.5%

5-Year Cumulative Returns

34.5%

3-Year Cumulative Returns

What are the long-term rolling returns for KODK?

FIve years rolling returns for Eastman Kodak.

Annualized Returns

Which funds bought or sold KODK recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	sold off	-100	-377,000	-	-%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	-	-	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	unchanged	-	-475	1,525	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	-35,466	70,534	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	50.00	-85.00	915	-%
2023-02-17	Coppell Advisory Solutions Corp.	new	-	549	549	-%
2023-02-16	GHP Investment Advisors, Inc.	unchanged	-	3.00	3.00	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	61.00	61.00	-%
2023-02-15	Steward Partners Investment Advisory, LLC	unchanged	-	-619	381	-%
2023-02-15	LAZARD ASSET MANAGEMENT LLC	sold off	-100	-33,000	-	-%

Latest Funds Activity

Are funds buying KODK calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own KODK

No. of Funds

Eastman Kodak News

Schedule 13G FIlings of Eastman Kodak

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	southeastern asset management inc/tn/	10.6%	935	SC 13G/A
Feb 03, 2023	blackrock inc.	5.4%	4,253,199	SC 13G
Mar 28, 2022	kennedy lewis management lp	7.8%	6,329,194	SC 13D
Jan 10, 2022	southeastern asset management inc/tn/	10.6%	935	SC 13G/A
Apr 06, 2021	go ek ventures iv, llc	11.35%	10,054,513	SC 13D/A
Mar 08, 2021	go ek ventures iv, llc	8.74%	7,500,000	SC 13D
Feb 16, 2021	d. e. shaw & co, l.p.	0.8%	642,315	SC 13G/A
Feb 12, 2021	southeastern asset management inc/tn/	15.8%	140	SC 13G/A
Jan 14, 2021	karfunkel george	6.5%	5,020,565	SC 13D/A
Oct 09, 2020	southeastern asset management inc/tn/	15.8%	140	SC 13G/A

KODK Fair Value

Eastman Kodak fair value in different scenarios

The table shows the Fair Value estimates for Eastman Kodak for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	6.80 80.37%	7.65 102.92%	8.79 133.16%	12.56 233.16%	14.90 295.23%
Current Inflation	6.57 74.27%	7.32 94.16%	8.31 120.42%	11.59 207.43%	13.61 261.01%
Very High Inflation	6.28 66.58%	6.91 83.29%	7.73 105.04%	10.43 176.66%	12.07 220.16%

Historical Eastman Kodak Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Eastman Kodak

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	8-K	Current Report
Mar 16, 2023	10-K	Annual Report
Feb 28, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 21, 2023	4	Insider Trading
Feb 14, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for KODK

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-26	CONTINENZA JAMES V	acquired	-	-	200,000	executive chairman and ceo
2022-05-18	Katz Philippe D	acquired	-	-	11,000	-
2022-05-17	GOLISANO B THOMAS	acquired	-	-	10,000	-
2022-05-17	SILECK MICHAEL	acquired	-	-	10,000	-
2022-05-17	KENNEDY LEWIS MANAGEMENT LP	acquired	-	-	20,000	-
2022-05-17	Lynch Kathleen B.	acquired	-	-	10,000	-
2022-05-17	KENNEDY LEWIS INVESTMENT MANAGEMENT LLC	acquired	-	-	20,000	-
2022-05-17	New Jason Griffin	acquired	-	-	10,000	-
2022-04-27	Michaels Richard T	sold (taxes)	-10,753	5.2	-2,068	cao and corp. controller
2022-04-27	Michaels Richard T	acquired	-	-	5,000	cao and corp. controller

About Eastman Kodak

James V. Continenza

www.kodak.com

4200

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, Digital Printing, Advanced Materials and Chemicals, and Brand. The Traditional Printing segment offers digital offset plate and computer-to-plate imaging solutions to commercial industries, including commercial print, direct mail, book publishing, newspapers and magazines, and packaging. The Digital Printing segment provides electrophotographic printing solutions, such as The ASCEND and NEXFINITY printers; prosper products, including the PROSPER 6000 Press, PROSPER Writing Systems, PROSPER press systems, and PROSPER components; versamark products; and PRINERGY workflow production software. The Advanced Materials and Chemicals segment engages in industrial film and chemicals, motion picture, and advanced materials and functional printing businesses. This segment also comprises the Kodak Research Laboratories, which conducts research, develops new product or new business opportunities, and files patent applications for its inventions and innovations, 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 engages 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.

KODK Income Statement

2022-12-31

Consolidated Statement of Operations - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Total revenues	$ 1,205	$ 1,150	$ 1,029
Cost of revenues
Total cost of revenues	1,035	986	894
Gross profit	(170)	(164)	(135)
Selling, general and administrative expenses	153	177	172
Research and development costs	34	33	34
Restructuring costs and other	10	6	17
Other operating income, net	(1)	(6)	(14)
Loss from continuing operations before interest expense, pension income excluding service cost component, loss on early extinguishment of debt, other charges (income), net and income taxes	(26)	(46)	(74)
Interest expense	40	33	12
Pension income excluding service cost component	(98)	(102)	(98)
Loss on early extinguishment of debt	0	0	2
Other charges (income), net	1	(5)	386
Earnings (loss) from continuing operations before income taxes	31	28	(376)
Provision for income taxes	5	4	168
Earnings (loss) from continuing operations	26	24	(544)
Earnings from discontinued operations, net of income taxes	0	0	3
NET EARNINGS (LOSS)	$ 26	$ 24	$ (541)
Basic earnings (loss) per share attributable to Eastman Kodak Company common shareholders:
Continuing operations (in dollars per share)	$ 0.16	$ 0.28	$ (9.83)
Discontinued operations (in dollars per share)	0	0	0.06
Total (in dollars per share)	0.16	0.28	(9.77)
Diluted earnings (loss) per share attributable to Eastman Kodak Company common shareholders:
Continuing operations (in dollars per share)	0.16	0.27	(9.83)
Discontinued operations (in dollars per share)	0	0	0.06
Total (in dollars per share)	$ 0.16	$ 0.27	$ (9.77)
Basic (in shares)	78.9	78.4	57.4
Diluted (in shares)	80.6	80.5	57.4
Product [Member]
Revenues
Total revenues	$ 983	$ 925	$ 806
Cost of revenues
Total cost of revenues	885	830	743
Service [Member]
Revenues
Total revenues	222	225	223
Cost of revenues
Total cost of revenues	$ 150	$ 156	$ 151

KODK Balance Sheet

2022-12-31

Consolidated Statement of Financial Position - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 217	$ 362
Trade receivables, net of allowances of $7 and $7	177	175
Inventories, net	237	219
Other current assets	48	49
Current assets held for sale	2	2
Total current assets	681	807
Property, plant and equipment, net	154	140
Goodwill	12	12
Intangible assets, net	28	34
Operating lease right-of-use assets	39	47
Restricted cash	62	54
Pension and other postretirement assets	1,233	1,022
Other long-term assets	76	55
TOTAL ASSETS	2,285	2,171
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY
Accounts payable, trade	134	153
Short-term borrowings and current portion of long-term debt	1	1
Current portion of operating leases	15	13
Other current liabilities	143	142
Total current liabilities	293	309
Long-term debt, net of current portion	316	253
Pension and other postretirement liabilities	230	382
Operating leases, net of current portion	31	45
Other long-term liabilities	171	205
Total liabilities	1,041	1,194
Commitments and contingencies (Note 12)
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference	203	196
Equity
Common stock, $0.01 par value	0	0
Additional paid in capital	1,160	1,166
Treasury stock, at cost	(11)	(10)
Accumulated deficit	(570)	(596)
Accumulated other comprehensive income	462	221
Total equity	1,041	781
TOTAL LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND EQUITY	2,285	2,171
Series A Preferred Stock [Member]
LIABILITIES, REDEEMABLE, CONVERTIBLE PREFERRED STOCK AND EQUITY
Redeemable, convertible preferred stock, no par value, $100 per share liquidation preference	$ 203	$ 196