Eastman Kodak Financials
Eastman Kodak (KODK) reported $1.1B in revenue over the twelve months to Jun 30, 2026, up 9.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
FY2025 looked like a balance-sheet cash release, with debt reduction overshadowing a near-breakeven operating model.
FY2025's operating cash flow jumped to$480M even though operating income sat at$0 , a mismatch too large to explain with ordinary margin improvement alone. Paired with a sharp debt paydown and still-negative net income, that gap makes the year look more like a balance-sheet reset than evidence that the underlying business suddenly began producing much higher recurring profit.
Gross margin widened from
Liquidity improved in FY2025: cash rose to
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Eastman Kodak's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Eastman Kodak has an operating margin of 0.0%, meaning the company retains less than $1 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. This is up from -0.7% the prior year.
Eastman Kodak's revenue grew a modest 2.5% year-over-year to $1.1B. This slow but positive growth earns a score of 24/100.
Eastman Kodak carries a low D/E ratio of 0.34, meaning only $0.34 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.14, Eastman Kodak holds $3.14 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 79/100.
Eastman Kodak converts 41.7% of revenue into free cash flow ($446.0M). This strong cash generation earns a score of 86/100.
Eastman Kodak posts a -20.8% return on equity (ROE), meaning it loses $21 for every $100 of shareholders' equity. This results in a returns score of 34/100. This is down from 15.9% the prior year.
Eastman Kodak scores 1.25, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Eastman Kodak passes 6 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Eastman Kodak reported a net loss of $128.0M while generating $480.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Eastman Kodak reported no operating income against $62.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Eastman Kodak generated $1.1B in revenue in fiscal year 2025. This represents an increase of 2.5% from the prior year.
Eastman Kodak's EBITDA was $29.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 38.1% from the prior year.
Eastman Kodak reported -$128.0M in net income in fiscal year 2025. This represents a decrease of 225.5% from the prior year.
Cash & Balance Sheet
Eastman Kodak generated $446.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 807.9% from the prior year.
Eastman Kodak held $337.0M in cash against $208.0M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Eastman Kodak's gross margin was 21.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.2 percentage points from the prior year.
Eastman Kodak's operating margin was 0.0% in fiscal year 2025, reflecting core business profitability. This is up 0.7 percentage points from the prior year.
Eastman Kodak's net profit margin was -12.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 21.8 percentage points from the prior year.
Eastman Kodak's ROE was -20.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 36.8 percentage points from the prior year.
Capital Allocation
Eastman Kodak invested $33.0M in research and development in fiscal year 2025. That is unchanged from the prior year.
Eastman Kodak spent $7.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 600.0% from the prior year.
Eastman Kodak invested $34.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 39.3% from the prior year.
KODK Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $311.0M+17.4% | $265.0M-8.6% | $290.0M+7.8% | $269.0M+2.3% | $263.0M+6.5% | $247.0M-7.1% | $266.0M+1.9% | $261.0M |
| Cost of Revenue | $229.0M+10.1% | $208.0M-6.7% | $223.0M+10.9% | $201.0M-5.2% | $212.0M+5.5% | $201.0M-6.5% | $215.0M-0.5% | $216.0M |
| Gross Profit | $82.0M+43.9% | $57.0M-14.9% | $67.0M-1.5% | $68.0M+33.3% | $51.0M+10.9% | $46.0M-9.8% | $51.0M+13.3% | $45.0M |
| R&D Expenses | $9.0M+12.5% | $8.0M0.0% | $8.0M+14.3% | $7.0M-22.2% | $9.0M0.0% | $9.0M+12.5% | $8.0M0.0% | $8.0M |
| SG&A Expenses | $53.0M+10.4% | $48.0M+2.1% | $47.0M+14.6% | $41.0M0.0% | $41.0M-8.9% | $45.0M+4.7% | $43.0M-2.3% | $44.0M |
| Operating Income | $15.0M+1600.0% | -$1.0M0.0% | -$1.0M-105.3% | $19.0M+480.0% | -$5.0M+61.5% | -$13.0M-62.5% | -$8.0M0.0% | -$8.0M |
| Interest Expense | $6.0M0.0% | $6.0M-60.0% | $15.0M-16.7% | $18.0M+20.0% | $15.0M+7.1% | $14.0M-6.7% | $15.0M+7.1% | $14.0M |
| Income Tax | $4.0M+33.3% | $3.0M-66.7% | $9.0M+200.0% | $3.0M+50.0% | $2.0M0.0% | $2.0M+100.0% | $1.0M-66.7% | $3.0M |
| Net Income | $17.0M+206.3% | -$16.0M+85.2% | -$108.0M-930.8% | $13.0M+150.0% | -$26.0M-271.4% | -$7.0M-126.9% | $26.0M+44.4% | $18.0M |
| EPS (Diluted) | $0.13 | -$0.21+82.9% | -$1.23-1437.5% | -$0.08+77.8% | -$0.36-200.0% | -$0.12 | $0.23+53.3% | $0.15 |
KODK Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B-1.9% | $1.6B-3.7% | $1.6B-22.1% | $2.1B+7.3% | $1.9B-0.2% | $1.9B-3.2% | $2.0B-16.2% | $2.4B |
| Current Assets | $766.0M-3.4% | $793.0M-5.7% | $841.0M+42.1% | $592.0M+3.1% | $574.0M-0.5% | $577.0M-3.0% | $595.0M-7.3% | $642.0M |
| Cash & Equivalents | $290.0M-3.0% | $299.0M-11.3% | $337.0M+100.6% | $168.0M+8.4% | $155.0M-1.9% | $158.0M-21.4% | $201.0M-6.1% | $214.0M |
| Inventory | $253.0M-0.8% | $255.0M+17.0% | $218.0M-7.6% | $236.0M-0.8% | $238.0M+0.8% | $236.0M+7.8% | $219.0M-9.1% | $241.0M |
| Accounts Receivable | $149.0M+10.4% | $135.0M-6.9% | $145.0M-0.7% | $146.0M-2.0% | $149.0M0.0% | $149.0M+8.0% | $138.0M-3.5% | $143.0M |
| Goodwill | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M0.0% | $12.0M |
| Total Liabilities | $830.0M-6.2% | $885.0M-2.1% | $904.0M-25.5% | $1.2B+2.6% | $1.2B+2.5% | $1.2B+1.1% | $1.1B-4.0% | $1.2B |
| Current Liabilities | $263.0M-16.2% | $314.0M+17.2% | $268.0M-64.2% | $749.0M+2.7% | $729.0M+179.3% | $261.0M0.0% | $261.0M-1.9% | $266.0M |
| Long-Term Debt | $108.0M0.0% | $108.0M-48.1% | $208.0M+1980.0% | $10.0M-9.1% | $11.0M-97.7% | $473.0M+1.5% | $466.0M+1.3% | $460.0M |
| Total Equity | $623.0M+3.8% | $600.0M-2.3% | $614.0M-19.4% | $762.0M+44.3% | $528.0M-6.2% | $563.0M-12.2% | $641.0M-34.7% | $982.0M |
| Retained Earnings | -$520.0M+3.2% | -$537.0M-3.1% | -$521.0M-26.2% | -$413.0M+3.1% | -$426.0M-6.5% | -$400.0M-1.8% | -$393.0M+6.2% | -$419.0M |
KODK Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.0M+116.7% | -$30.0M-106.1% | $489.0M+2228.6% | $21.0M+162.5% | $8.0M+121.1% | -$38.0M-1050.0% | $4.0M+119.0% | -$21.0M |
| Capital Expenditures | $5.0M-16.7% | $6.0M0.0% | $6.0M+50.0% | $4.0M-66.7% | $12.0M0.0% | $12.0M-29.4% | $17.0M-15.0% | $20.0M |
| Free Cash Flow | $0+100.0% | -$36.0M-107.5% | $483.0M+2741.2% | $17.0M+525.0% | -$4.0M+92.0% | -$50.0M-284.6% | -$13.0M+68.3% | -$41.0M |
| Investing Cash Flow | $36.0M-14.3% | $42.0M+800.0% | -$6.0M-50.0% | -$4.0M+66.7% | -$12.0M-71.4% | -$7.0M+58.8% | -$17.0M+15.0% | -$20.0M |
| Financing Cash Flow | -$52.0M+3.7% | -$54.0M+82.6% | -$311.0M-31200.0% | $1.0M+150.0% | -$2.0M0.0% | -$2.0M0.0% | -$2.0M-100.0% | -$1.0M |
| Dividends Paid | $1.0M-66.7% | $3.0M | $0 | $0-100.0% | $1.0M0.0% | $1.0M0.0% | $1.0M0.0% | $1.0M |
| Share Buybacks | $2.0M | $0-100.0% | $5.0M | $0-100.0% | $1.0M0.0% | $1.0M | $0 | $0 |
KODK Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.4%+4.9pp | 21.5%-1.6pp | 23.1%-2.2pp | 25.3%+5.9pp | 19.4%+0.8pp | 18.6%-0.6pp | 19.2%+1.9pp | 17.2% |
| Operating Margin | 4.8%+5.2pp | -0.4%0.0pp | -0.3%-7.4pp | 7.1%+9.0pp | -1.9%+3.4pp | -5.3%-2.3pp | -3.0%+0.1pp | -3.1% |
| Net Margin | 5.5%+11.5pp | -6.0%+31.2pp | -37.2%-42.1pp | 4.8%+14.7pp | -9.9%-7.1pp | -2.8%-12.6pp | 9.8%+2.9pp | 6.9% |
| Return on Equity | 2.7%+5.4pp | -2.7%+14.9pp | -17.6%-19.3pp | 1.7%+6.6pp | -4.9%-3.7pp | -1.2%-5.3pp | 4.1%+2.2pp | 1.8% |
| Return on Assets | 1.1%+2.1pp | -1.0%+5.6pp | -6.7%-7.3pp | 0.6%+2.0pp | -1.4%-1.0pp | -0.4%-1.7pp | 1.3%+0.5pp | 0.8% |
| Current Ratio | 2.91+0.4x | 2.53-0.6x | 3.14+2.3x | 0.790.0x | 0.79-1.4x | 2.21-0.1x | 2.28-0.1x | 2.41 |
| Debt-to-Equity | 0.170.0x | 0.18-0.2x | 0.34+0.3x | 0.010.0x | 0.02-0.8x | 0.84+0.1x | 0.73+0.3x | 0.47 |
| FCF Margin | 0.0%+13.6pp | -13.6% | 166.6% | 6.3%+7.8pp | -1.5%+18.7pp | -20.2%-15.3pp | -4.9%+10.8pp | -15.7% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
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Where Eastman Kodak Ranks
Frequently Asked Questions
What is Eastman Kodak's annual revenue?
Eastman Kodak (KODK) reported $1.1B in total revenue for fiscal year 2025. This represents a 2.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Eastman Kodak's revenue growing?
Eastman Kodak (KODK) revenue grew by 2.5% year-over-year, from $1.0B to $1.1B in fiscal year 2025.
Is Eastman Kodak profitable?
No, Eastman Kodak (KODK) reported a net income of -$128.0M in fiscal year 2025, with a net profit margin of -12.0%.
What is Eastman Kodak's EBITDA?
Eastman Kodak (KODK) had EBITDA of $29.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Eastman Kodak have?
As of fiscal year 2025, Eastman Kodak (KODK) had $337.0M in cash and equivalents against $208.0M in long-term debt.
What is Eastman Kodak's gross margin?
Eastman Kodak (KODK) had a gross margin of 21.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Eastman Kodak's operating margin?
Eastman Kodak (KODK) had an operating margin of 0.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Eastman Kodak's net profit margin?
Eastman Kodak (KODK) had a net profit margin of -12.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Eastman Kodak's return on equity (ROE)?
Eastman Kodak (KODK) has a return on equity of -20.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Eastman Kodak's free cash flow?
Eastman Kodak (KODK) generated $446.0M in free cash flow during fiscal year 2025. This represents a 807.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Eastman Kodak's operating cash flow?
Eastman Kodak (KODK) generated $480.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Eastman Kodak's total assets?
Eastman Kodak (KODK) had $1.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Eastman Kodak's capital expenditures?
Eastman Kodak (KODK) invested $34.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Eastman Kodak spend on research and development?
Eastman Kodak (KODK) invested $33.0M in research and development during fiscal year 2025.
What is Eastman Kodak's current ratio?
Eastman Kodak (KODK) had a current ratio of 3.14 as of fiscal year 2025, which is generally considered healthy.
What is Eastman Kodak's debt-to-equity ratio?
Eastman Kodak (KODK) had a debt-to-equity ratio of 0.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Eastman Kodak's return on assets (ROA)?
Eastman Kodak (KODK) had a return on assets of -7.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Eastman Kodak's Altman Z-Score?
Eastman Kodak (KODK) has an Altman Z-Score of 1.25, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Eastman Kodak's Piotroski F-Score?
Eastman Kodak (KODK) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Eastman Kodak's earnings high quality?
Eastman Kodak (KODK) reported a net loss of $128.0M while generating $480.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Eastman Kodak cover its interest payments?
Eastman Kodak (KODK) reported no operating income against $62.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Eastman Kodak?
Eastman Kodak (KODK) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.