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Eastman Kodak Company logo

Eastman Kodak Company

KODK
41
Industrial - Machinery · Industrials
Also trades as: 0IF4.L
Price
$9.87
-0.17 (-1.69%)
Market Cap
$966.3M
Winston Score
41
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 10, 2026 · filings through Jun 30, 2026

Share count rising — dilution

+11.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 80.5M (2021) → 89.8M (2025)

Eastman Kodak is an American company best known for inventing consumer photography over a century ago. Today it focuses mostly on printing technology and chemicals, selling equipment, ink, and software to commercial printers, publishers, and packaging companies. It also has a small but notable advanced materials and chemicals division that supplies specialty products to industrial customers.

Kodak makes money by selling printing hardware and then earning recurring revenue from the inks, plates, and services those machines require. The company operates mainly in North America and Europe and generates roughly $1 billion in annual revenue. Its brand recognition is strong, but its competitive position in commercial printing is narrow — it faces pressure from larger rivals and a slowly shrinking print market. The key risk is that demand for traditional printing continues to decline faster than Kodak can grow its newer chemical and advanced materials businesses, which the company has been trying to expand as a long-term offset.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+18.3% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

>+1,000% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$33M/ year

Flat (+0% vs prior year)

3.1% of revenue

Below sector average (4%)

Steady R&D investment year-over-year

Insider Activity

31.0%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↓ Burn rate worsening

$290M cash & investments at current burn rate

Growth context

Eastman Kodak Company is growing revenue at 18% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
26.4%
Modest — 26.4% gross margin
Operating Margin
6.4%
Modest — 6.4% operating margin
ROCE
3.2%
Weak — 3.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+9.5%
Steady sales growth (+9.5% YoY)
EPS YoY
N/A
Data not available
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
N/A
Data not available
FCF Margin
40.8%
Converts sales into free cash efficiently (40.8%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity
0.00
Conservative — low debt load (0.00)
Interest Cover
N/A
Data not available

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Valuation

P/E Ratio (TTM)
0.1x
Attractive valuation — P/E 0.1

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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