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EASTMAN KODAK CO (KODK) financial health, profit and balance sheet · Scorvest

KODK · NYSE · United States · Photographic Equipment & Supplies

EASTMAN KODAK CO

Rochester, NY · Fiscal year ends in December · Figures in USD

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In shortEASTMAN KODAK CO is loss-making, generates cash and holds more cash than debt, with revenue growing (+2.5% last year).

Financial health

Mixed

Built from five areas over the last five annual reports. Tap an area to see the figures behind it.

How is this score calculated? →

Profitability4

Operating marginShare of each sale left after running the business, before interest and tax.	0.0%	17/100
Net marginShare of each sale left as profit after every cost, interest and tax.	-12.0%	0/100
Return on equityProfit earned on the money shareholders put in. Above 15% is strong.	-20.4%	0/100
Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge.	0.0%	0/100

Weight in the score: 25%

Balance sheet63

Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash.	3.14×	100/100
Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted.	0.34×	92/100
Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable.	Net cash	100/100
Interest coverageHow many times operating profit covers interest. Below 2 is risky.	0.00×	0/100
Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress.	1.99	23/100

Weight in the score: 25%

Cash generation63

Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt.	41.7%	100/100
Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy.	–	n/a
Years with positive free cash flow (last 5)	2 of 5	25/100

Weight in the score: 20%

Stability72
Profitable years (last 5) 4 of 5 80/100
Years of revenue decline (last 5) 2 of 5 33/100
Revenue growth volatility 8.1% 81/100
Operating margin volatility 1.8% 93/100
Weight in the score: 20%
Growth0
Revenue growth, 3-year average -3.9% 0/100
EPS growth, 3-year average – n/a
Weight in the score: 10%

Profitable years (last 5)	4 of 5	80/100
Years of revenue decline (last 5)	2 of 5	33/100
Revenue growth volatility	8.1%	81/100
Operating margin volatility	1.8%	93/100

Revenue growth, 3-year average	-3.9%	0/100
EPS growth, 3-year average	–	n/a

Fiscal year 2025 · change vs prior year

Revenue: $1.1B; ▲ 2.5%
Net income: −$128.0M; ▼ 225.5%
Free cash flow: $446.0M; ▲ 807.9%
Operating margin: 0.0%; +0.7 pts
Cash & investments: $436.0M; –
Total debt: $209.0M; ▼ 55.2%
Diluted EPS: −$1.78; ▼ 297.8%
Return on equity: −20.4%; –

Trends

Annual figures as reported. Hover a bar or point for the exact value.

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Revenue and net income

RevenueNet income

Margins

Statements

The last 5 fiscal years from the company's annual reports.

USD millions; negative values in parentheses.

Fiscal year	FY21	FY22	FY23	FY24	FY25
Revenue	1,150	1,205	1,117	1,043	1,069
Cost of revenue	986	1,035	907	840	837
Gross profit	164	170	210	203	232
Research & development	33	34	34	33	33
Selling, general & admin	177	153	159	179	174
Operating income	(46)	(26)	4	(7)	0
Interest expense	33	40	52	59	62
Pre-tax income	28	31	87	110	(112)
Income tax	4	5	12	8	16
Net income	24	26	75	102	(128)
Diluted EPS	$0.27	$0.16	$0.67	$0.90	−$1.78
Diluted shares (millions)	81	81	91	92	87

5 older years available with the 10-year history. Essential plan, from €8.25/month →

Risk checks

Altman Z'' score

1.99 Grey zone

Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.

Piotroski F-score

7/9

Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.

Positive net income: failed
Positive operating cash flow: passed
Return on assets improved: failed
Cash flow exceeds net income: passed
Long-term debt ratio fell: passed
Current ratio improved: passed
No share dilution: passed
Gross margin improved: passed
Asset turnover improved: passed

Sources

10-QPeriod ending Jun 30, 2026Filed Aug 4, 2026Open the report ↗
10-QPeriod ending Mar 31, 2026Filed May 7, 2026Open the report ↗
10-KPeriod ending Dec 31, 2025Filed Mar 12, 2026Open the report ↗
10-QPeriod ending Sep 30, 2025Filed Nov 6, 2025Open the report ↗
10-QPeriod ending Jun 30, 2025Filed Aug 11, 2025Open the report ↗
10-QPeriod ending Mar 31, 2025Filed May 8, 2025Open the report ↗
10-KPeriod ending Dec 31, 2024Filed Mar 17, 2025Open the report ↗
10-QPeriod ending Sep 30, 2024Filed Nov 12, 2024Open the report ↗