Eastman Kodak Co
KODK
Photographic Equipment & Supplies
Mkt Cap
$418.4MPE
7.61Debt
$448MCash
$262MEV
$604.4MFCF
$4MP/E Ratio
7.61Debt
$448MCash
$262MEV
$604.4MFCF
$4MCharts data: {"Earnings":[{"time":"2014-12-30","value":-123000000},{"time":"2015-12-30","value":-80000000},{"time":"2016-12-30","value":15000000},{"time":"2017-12-30","value":94000000},{"time":"2018-12-30","value":-16000000},{"time":"2019-12-30","value":116000000},{"time":"2020-12-30","value":-541000000},{"time":"2021-12-30","value":22000000},{"time":"2022-12-30","value":13000000},{"time":"2023-12-30","value":56000000}],"Sales":[{"time":"2014-12-30","value":2046000000},{"time":"2015-12-30","value":1709000000},{"time":"2016-12-30","value":1543000000},{"time":"2017-12-30","value":1531000000},{"time":"2018-12-30","value":1325000000},{"time":"2019-12-30","value":1242000000},{"time":"2020-12-30","value":1029000000},{"time":"2021-12-30","value":1150000000},{"time":"2022-12-30","value":1205000000},{"time":"2023-12-30","value":1117000000}],"Net Margins":[{"time":"2014-12-30","value":-0.060117302052785926},{"time":"2015-12-30","value":-0.046811000585137506},{"time":"2016-12-30","value":0.009721322099805573},{"time":"2017-12-30","value":0.06139777922926192},{"time":"2018-12-30","value":-0.012075471698113207},{"time":"2019-12-30","value":0.09339774557165861},{"time":"2020-12-30","value":-0.5257531584062196},{"time":"2021-12-30","value":0.019130434782608695},{"time":"2022-12-30","value":0.010788381742738589},{"time":"2023-12-30","value":0.050134288272157566}],"Assets":[{"time":"2014-12-30","value":2556000000},{"time":"2015-12-30","value":2138000000},{"time":"2016-12-30","value":1776000000},{"time":"2017-12-30","value":1707000000},{"time":"2018-12-30","value":1511000000},{"time":"2019-12-30","value":1415000000},{"time":"2020-12-30","value":1248000000},{"time":"2021-12-30","value":2171000000},{"time":"2022-12-30","value":2285000000},{"time":"2023-12-30","value":2355000000}],"Stockholders Equity":[{"time":"2014-12-30","value":299000000},{"time":"2015-12-30","value":103000000},{"time":"2016-12-30","value":-73000000},{"time":"2017-12-30","value":57000000},{"time":"2018-12-30","value":-3000000},{"time":"2019-12-30","value":99000000},{"time":"2020-12-30","value":77000000},{"time":"2021-12-30","value":781000000},{"time":"2022-12-30","value":1041000000},{"time":"2023-12-30","value":931000000}],"ROE":[{"time":"2014-12-30","value":-0.411371237458194},{"time":"2015-12-30","value":-0.7766990291262136},{"time":"2016-12-30","value":-0.2054794520547945},{"time":"2017-12-30","value":1.6491228070175439},{"time":"2018-12-30","value":5.333333333333333},{"time":"2019-12-30","value":1.1717171717171717},{"time":"2020-12-30","value":-7.025974025974026},{"time":"2021-12-30","value":0.028169014084507043},{"time":"2022-12-30","value":0.012487992315081652},{"time":"2023-12-30","value":0.06015037593984962}],"ROA":[{"time":"2014-12-30","value":0.018388106416275432},{"time":"2015-12-30","value":0.042563143124415344},{"time":"2016-12-30","value":0.07882882882882883},{"time":"2017-12-30","value":0.011130638547158758},{"time":"2018-12-30","value":-0.0026472534745201853},{"time":"2019-12-30","value":-0.03109540636042403},{"time":"2020-12-30","value":-0.05929487179487179},{"time":"2021-12-30","value":0.012897282358360202},{"time":"2022-12-30","value":0.013566739606126914},{"time":"2023-12-30","value":0.03694267515923567}]}
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 four segments: 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.
Sector
DCF
Discounted Cash Flow Valuation of Eastman Kodak Co
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $4M | $1M | $250K | $62.5K | $15.63K | $3.906K | $976.6 | $244.1 | $61.04 | $15.26 | $3.815 | $38.15 |
| DCF | $869.6K | $189K | $41.09K | $8.934K | $1.942K | $422.2 | $91.78 | $19.95 | $4.338 | $0.9429 | $9.429 | |
| Value | $1.111M | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth -11%
Earnings Stability -38%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | -4.7% | 0.97% | 6.1% | -1.2% | 9.3% | -53% | 1.9% | 1.1% | 5% | 5.1% |
| ROA | 4.3% | 7.9% | 1.1% | -0.26% | -3.1% | -5.9% | 1.3% | 1.4% | 3.7% | 3.5% |
| ROE | -78% | -21% | 160% | 530% | 120% | -700% | 2.8% | 1.2% | 6% | 5.8% |
What is the average Net Margin?
The average Net Margin over the past 5 years is -6.07%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is +1.74%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is -0.49%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +1.15%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is -7%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -65.11%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | -4.96 | -7.63 | -3.88 | -8.40 | -37.67 | -0.40 | -3.75 | -2.16 | 76.50 | 112.00 |
| Debt Equity | 6.65 | -5.64 | 7.14 | -266.00 | 1.14 | 0.27 | 0.33 | 0.31 | 0.49 | 0.47 |
| MIN | ||||||||||
| Graham Stability | - | - | - | -170% | 100% | -840% | - | - | - | -840% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is 112.00.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is 15.08.
What is the Graham’s Stability?
Graham’s Stability measure stands at -8.37.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | -4.5% | -3.4% | 2.8% | -7.3% | 1.7% |
| Net Income | 21% | - | - | 330% | -59% |
| Stockholders Equity | - | - | 130% | -11% | 29% |
| FCF | - | - | - | - | - |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is -3.36%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is +1.69%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is -.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is -58.74%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is +28.53%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is -.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -.