Forensic Analysis · General / Diversified · as of Jun 27, 2026
EASTMAN KODAK CO (KODK)
A forensic read on EASTMAN KODAK CO built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Grey Zone
Financial health
2.0
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-18.3%
ROE
$934M
Market cap
0.43%
Dividend yield
EASTMAN KODAK CO earns a F (Poor — capital at risk) forensic quality grade, and its Altman Z-score is 2.0, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
0%Return on invested capital.Return on invested capital is 0% and steady — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+2.6%/yrShare-count dilution.Diluted share count changed +8% over the last 3 years to FY2025 (+2.6%/yr). The count is GROWING — existing holders are being diluted. That's ~2.6% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~8%.
-68%Dividend — cut.The payout was CUT ~68% in FY2021 (from FY2020). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Net Margin-12.0%
Debt / Equity0.34x
Free Cash Flow$446.0M
Latest Revenue$1.07B
Return on Equity-20.8%
Revenue Growth YoY+2.5%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on EASTMAN KODAK CO:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about KODK's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown