Latest Ratios: P/E Ratio -4.6x · EV/EBITDA 13.0x · ROE -16.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $792M | $760M | $606M | $353M | $246M | $377M | $467M | $200M | $109M | $132M | $657M |
| Enterprise Value | $705M | $673M | $904M | $593M | $392M | $327M | $351M | $138M | $264M | $191M | $631M |
| P/E Ratio → | -4.56 | — | 7.30 | 5.82 | 19.06 | 17.33 | — | — | — | 1.76 | 55.36 |
| P/S Ratio | 0.74 | 0.71 | 0.58 | 0.32 | 0.20 | 0.33 | 0.45 | 0.16 | 0.08 | 0.10 | 0.40 |
| P/B Ratio | 1.02 | 1.07 | 0.71 | 0.31 | 0.20 | 0.39 | 1.74 | 0.71 | 0.64 | 0.60 | 7.92 |
| P/FCF | 1.77 | 1.70 | — | 58.83 | — | — | — | — | — | — | — |
| P/OCF | 1.65 | 1.58 | — | 9.29 | — | — | — | 16.66 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.63 | 0.87 | 0.53 | 0.33 | 0.28 | 0.34 | 0.11 | 0.20 | 0.14 | 0.38 |
| EV / EBITDA | 13.05 | 12.46 | 43.07 | 17.44 | 130.61 | — | — | — | — | 3.09 | 2.90 |
| EV / EBIT | 28.18 | 26.91 | 5.35 | 3.59 | 4.61 | 5.83 | 10.33 | 3.63 | — | — | 5.69 |
| EV / FCF | — | 1.51 | — | 98.83 | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.7% | 21.7% | 19.5% | 19.1% | 14.4% | 14.3% | 13.1% | 14.7% | 13.6% | 15.2% | 24.5% |
| Operating Margin | 2.3% | 2.3% | -0.7% | 0.4% | -2.2% | -4.0% | -7.2% | -8.2% | -7.7% | -1.3% | 6.9% |
| Net Profit Margin | -12.0% | -12.0% | 9.8% | 6.7% | 2.2% | 2.1% | -52.6% | 9.3% | -1.2% | 6.8% | 0.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -16.3% | -16.3% | 10.2% | 6.3% | 2.3% | 3.9% | -197.1% | 51.4% | -8.2% | 61.8% | 16.1% |
| ROA | -7.0% | -7.0% | 4.7% | 3.2% | 1.2% | 1.4% | -40.6% | 7.9% | -1.0% | 5.4% | 0.8% |
| ROIC | 2.1% | 2.1% | -0.4% | 0.2% | -1.7% | -6.4% | -29.9% | -28.1% | -25.0% | -8.0% | 57.8% |
| ROCE | 1.6% | 1.6% | -0.4% | 0.2% | -1.3% | -3.3% | -7.4% | -11.5% | -10.0% | -1.4% | 7.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.35 | 0.35 | 0.58 | 0.43 | 0.29 | 0.32 | 0.30 | 0.61 | 2.36 | 1.82 | 4.90 |
| Debt / EBITDA | 4.63 | 4.63 | 23.76 | 14.56 | 121.00 | — | — | — | — | 6.50 | 1.87 |
| Net Debt / Equity | — | -0.12 | 0.35 | 0.21 | 0.12 | -0.05 | -0.43 | -0.22 | 0.91 | 0.27 | -0.31 |
| Net Debt / EBITDA | -1.61 | -1.61 | 14.19 | 7.06 | 48.67 | — | — | — | — | 0.95 | -0.12 |
| Debt / FCF | — | -0.20 | — | 40.00 | — | — | — | — | — | — | — |
| Interest Coverage | 0.40 | 0.40 | 2.86 | 3.17 | 2.13 | 1.70 | 2.83 | 2.38 | -0.44 | -2.25 | 1.85 |
Net cash position: cash ($337M) exceeds total debt ($250M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.14 | 3.14 | 2.28 | 2.52 | 2.32 | 2.61 | 2.12 | 1.92 | 1.13 | 2.29 | 2.64 |
| Quick Ratio | 2.32 | 2.32 | 1.44 | 1.75 | 1.52 | 1.90 | 1.42 | 1.33 | 0.83 | 1.63 | 2.08 |
| Cash Ratio | 1.26 | 1.26 | 0.77 | 0.90 | 0.74 | 1.17 | 0.66 | 0.63 | 0.32 | 0.82 | 1.02 |
| Asset Turnover | — | 0.65 | 0.52 | 0.47 | 0.53 | 0.53 | 0.82 | 0.88 | 0.87 | 0.81 | 0.93 |
| Inventory Turnover | 3.84 | 3.84 | 3.84 | 4.17 | 4.35 | 4.50 | 4.34 | 4.93 | 4.83 | 4.26 | 5.25 |
| Days Sales Outstanding | — | 51.90 | 48.29 | 63.72 | 53.61 | 55.54 | 62.78 | 61.13 | 64.15 | 66.63 | 61.54 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.3% | 0.7% | 1.1% | 1.6% | 1.9% | 4.7% | 1.5% | 7.3% | 7.6% | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 13.7% | 17.2% | 5.2% | 5.8% | — | — | — | 56.8% | 1.8% |
| FCF Yield | 56.3% | 58.7% | — | 1.7% | — | — | — | — | — | — | — |
| Buyback Yield | 0.9% | 0.9% | 0.2% | 0.0% | 0.4% | 0.3% | 7.1% | 0.0% | 0.0% | 0.8% | 0.5% |
| Total Shareholder Yield | 1.2% | 1.2% | 0.8% | 1.1% | 2.0% | 2.1% | 11.8% | 1.5% | 7.3% | 8.3% | 0.5% |
| Shares Outstanding | — | $90M | $92M | $91M | $81M | $81M | $57M | $43M | $43M | $43M | $42M |
Legacy asset impairment risk
Based on current market data, Kodak trades at an EV/EBITDA of 15.69x, a multiple that appears disconnected from its underlying operational volatility and suggests investors are pricing in speculative option value rather than the company's historical ability to generate consistent, high-quality earnings from its core printing segments.
The current valuation implies a significant premium relative to the company's negative net margins and inconsistent free cash flow generation. Investors appear to be assigning value to the potential of the Advanced Materials and Chemicals segment, yet this remains unproven against the backdrop of a declining legacy print business.
As reported in financial statements, Kodak's ROIC has struggled to maintain positive territory, hovering near 0.1% in 2026Q1, which indicates that the company is failing to generate returns that exceed its cost of capital while attempting to pivot its legacy manufacturing infrastructure toward new industrial applications.
The persistent inability to achieve meaningful ROIC suggests that the company's capital-intensive manufacturing base is a drag on performance rather than a competitive advantage. Without a sustained improvement in asset utilization, the company may continue to see its book value eroded by ongoing operational inefficiencies.
According to quarterly data, the cash conversion cycle has remained elevated, reaching 105 days in 2026Q1, which highlights the company's difficulty in managing inventory and receivables effectively within a business model that is increasingly reliant on specialized, lower-volume chemical and material sales compared to historical high-volume printing.
The high days inventory outstanding, consistently exceeding 90 days, suggests that the company is carrying significant stock that may be at risk of obsolescence. This inefficiency ties up critical liquidity and limits the company's ability to pivot quickly to changing market demands in the advanced materials space.
Based on reported figures, Kodak's interest coverage ratio has plummeted to 0.17x in 2026Q1, a stark decline from previous periods that warrants close monitoring as it suggests the company's ability to service its debt obligations is becoming increasingly dependent on non-operating cash inflows or further balance sheet restructuring.
While the debt-to-equity ratio appears lower than historical peaks, the extremely thin interest coverage ratio indicates that even minor operational setbacks could lead to significant solvency pressure. Investors should be wary of the company's reliance on non-recurring items to maintain its current capital structure.
The P/E ratio is a fundamentally flawed metric for evaluating Kodak, as the company's GAAP earnings are frequently distorted by non-recurring restructuring charges, pension accounting adjustments, and tax valuation allowances that obscure the underlying cash-generating capacity of its specialized chemical and materials manufacturing platform.
Analysts should instead focus on EV/EBITDA or free cash flow yield to better understand the company's operational health, as these metrics are less sensitive to the accounting noise inherent in legacy industrial firms. Relying on P/E in this context risks misinterpreting a restructuring story as a standard earnings-based investment.
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Quick answers to the most common questions about buying KODK stock.
Eastman Kodak Company's current P/E ratio is -4.6x. The historical average is 15.7x.
Eastman Kodak Company's current EV/EBITDA is 13.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.6x.
Eastman Kodak Company's return on equity (ROE) is -16.3%. The historical average is 8.3%.
Based on historical data, Eastman Kodak Company is trading at a P/E of -4.6x. Compare with industry peers and growth rates for a complete picture.
Eastman Kodak Company's current dividend yield is 0.27%.
Eastman Kodak Company has 21.7% gross margin and 2.3% operating margin.
Eastman Kodak Company's Debt/EBITDA ratio is 4.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.