The company's financial position shows significant instability, with the current ratio swinging from a low of 0.79 in 2025Q3 to 2.53 in 2026Q1, alongside a total debt reduction to $198 million in the most recent quarter.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Total Current Assets | 793M | 841M | 595M | 712M | 681M | 807M | 627M | 706M | 878M | 958M | 1.12B | 1.28B | 1.55B | 1.97B | 2.58B | 2.7B | 3.8B | 4.3B | 5B | 6.05B | 5.56B | 5.78B | 5.65B | 5.46B | 4.53B | 4.68B | 5.49B | 5.44B | 5.6B | 5.47B | 6.96B |
| Cash & Short-Term Investments | 299M | 337M | 201M | 255M | 217M | 362M | 196M | 233M | 246M | 344M | 433M | 547M | 712M | 844M | 1.14B | 861M | 1.62B | 2.02B | 2.15B | 2.95B | 1.47B | 1.67B | 1.25B | 1.25B | 569M | 448M | 251M | 393M | 500M | 728M | 1.78B |
| Cash Only | 299M | 337M | 201M | 255M | 217M | 362M | 196M | 233M | 246M | 344M | 433M | 547M | 712M | 844M | 1.14B | 861M | 1.62B | 2.02B | 2.15B | 2.95B | 1.47B | 1.67B | 1.25B | 1.25B | 569M | 448M | 246M | 373M | 457M | 728M | 1.78B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5M | 20M | 43M | 0 | 0 |
| Accounts Receivable | 135M | 152M | 138M | 195M | 177M | 175M | 177M | 208M | 232M | 253M | 277M | 350M | 414M | 571M | 790M | 1.1B | 1.26B | 1.4B | 1.72B | 1.94B | 2.67B | 2.76B | 2.54B | 2.33B | 2.23B | 2.34B | 2.65B | 2.54B | 2.53B | 2.27B | 2.74B |
| Days Sales Outstanding | 48.86 | 51.9 | 48.29 | 63.72 | 53.61 | 55.54 | 62.78 | 61.13 | 64.15 | 66.63 | 61.54 | 70.85 | 73.86 | 88.8 | 106.05 | 112.3 | 76.68 | 66.92 | 66.52 | 68.71 | 92.18 | 88.41 | 68.7 | 65.8 | 64.98 | 64.48 | 69.2 | 65.73 | 68.8 | 57.02 | 62.59 |
| Inventory | 255M | 218M | 219M | 217M | 237M | 219M | 206M | 215M | 236M | 276M | 236M | 314M | 349M | 358M | 543M | 607M | 696M | 679M | 948M | 943M | 1.2B | 1.14B | 1.16B | 1.07B | 1.06B | 1.14B | 1.72B | 1.52B | 1.42B | 1.25B | 1.57B |
| Days Inventory Outstanding | 102.39 | 95.07 | 95.16 | 87.62 | 83.82 | 81.07 | 84.11 | 74.03 | 75.56 | 85.74 | 69.47 | 80.6 | 80.32 | 70.21 | 81.7 | 71.58 | 60.92 | 42.37 | 47.75 | 44.21 | 53.77 | 46.94 | 44.02 | 44.92 | 48.32 | 47.92 | 78.2 | 78.43 | 80.71 | 63.93 | 77.43 |
| Other Current Assets | 104M | 134M | 37M | 45M | 50M | 51M | 48M | 50M | 164M | 116M | 57M | 169M | 75M | 198M | 110M | 132M | 220M | 205M | 195M | 224M | 217M | 216M | 691M | 797M | 669M | 761M | 869M | 995M | 1.15B | 1.22B | 875M |
| Total Non-Current Assets | 764M | 816M | 1.41B | 1.64B | 1.6B | 1.36B | 621M | 709M | 633M | 749M | 656M | 860M | 1.01B | 1.23B | 1.71B | 1.98B | 3.04B | 3.39B | 4.17B | 7.61B | 8.76B | 9.14B | 9.09B | 9.36B | 8.84B | 8.68B | 8.72B | 8.93B | 9.13B | 7.67B | 7.47B |
| Property, Plant & Equipment | 241M | 239M | 216M | 199M | 193M | 187M | 200M | 230M | 246M | 314M | 298M | 426M | 524M | 684M | 693M | 895M | 1.04B | 1.25B | 1.55B | 1.81B | 2.84B | 3.78B | 4.51B | 5.09B | 5.42B | 5.66B | 5.92B | 5.95B | 5.91B | 5.51B | 5.42B |
| Fixed Asset Turnover | 4.56x | 4.47x | 4.83x | 5.61x | 6.24x | 6.15x | 5.15x | 5.40x | 5.37x | 4.41x | 5.51x | 4.23x | 3.90x | 3.43x | 3.92x | 4.01x | 5.78x | 6.07x | 6.07x | 5.69x | 3.72x | 3.02x | 3.00x | 2.53x | 2.32x | 2.34x | 2.36x | 2.37x | 2.27x | 2.64x | 2.95x |
| Goodwill | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 32M | 88M | 88M | 96M | 88M | 278M | 277M | 294M | 907M | 896M | 1.66B | 2.2B | 2.14B | 1.45B | 0 | 0 | 948M | 947M | 982M | 1.23B | 0 | 0 |
| Intangible Assets | 17M | 17M | 20M | 24M | 28M | 34M | 39M | 47M | 60M | 86M | 84M | 158M | 182M | 219M | 61M | 87M | 124M | 0 | 0 | 362M | 673M | 0 | 0 | 1.38B | 981M | 0 | 0 | 0 | 0 | 548M | 581M |
| Long-Term Investments | 202M | 110M | 104M | 0 | 25M | 54M | 64M | 0 | 112M | 32M | 36M | 43M | 0 | 2M | 30M | 0 | -695M | 0 | 0 | 0 | 0 | -100M | -556M | 0 | 0 | -81M | 0 | -59M | -69M | -64M | -102M |
| Other Non-Current Assets | 402M | 438M | 1.05B | 1.41B | 1.35B | 1.13B | 370M | 273M | 43M | 97M | 115M | 122M | 166M | 182M | 176M | 264M | 1.09B | 1.23B | 1.73B | 3.14B | 2.41B | 3.22B | 3.13B | 2.88B | 2.43B | 2.07B | 1.77B | 2B | 1.99B | 1.61B | 1.47B |
| Total Assets | 1.56B | 1.66B | 2B | 2.35B | 2.29B | 2.17B | 1.25B | 1.42B | 1.51B | 1.71B | 1.78B | 2.14B | 2.56B | 3.2B | 4.29B | 4.68B | 6.84B | 7.69B | 9.18B | 13.66B | 14.32B | 14.92B | 14.74B | 14.82B | 13.37B | 13.36B | 14.21B | 14.37B | 14.73B | 13.14B | 14.44B |
| Asset Turnover | 0.60x | 0.65x | 0.52x | 0.47x | 0.53x | 0.53x | 0.82x | 0.88x | 0.87x | 0.81x | 0.93x | 0.84x | 0.80x | 0.73x | 0.63x | 0.77x | 0.88x | 0.99x | 1.03x | 0.75x | 0.74x | 0.76x | 0.92x | 0.87x | 0.94x | 0.99x | 0.98x | 0.98x | 0.91x | 1.11x | 1.11x |
| Asset Growth % | -67.98% | -17.19% | -15.03% | 3.06% | 5.25% | 73.96% | -11.8% | -6.35% | -11.48% | -3.89% | -16.93% | -16.35% | -20.13% | -25.34% | -8.38% | -31.65% | -11.01% | -16.21% | -32.8% | -4.62% | -4.03% | 1.25% | -0.55% | 10.84% | 0.05% | -5.98% | -1.1% | -2.46% | 12.08% | -8.96% | -0.27% |
| Total Current Liabilities | 314M | 268M | 261M | 283M | 293M | 309M | 296M | 368M | 778M | 419M | 425M | 459M | 599M | 885M | 2.1B | 2.15B | 2.84B | 2.9B | 3.46B | 4.45B | 4.97B | 5.49B | 4.99B | 5.31B | 5.38B | 5.35B | 6.21B | 5.77B | 6.18B | 5.18B | 5.42B |
| Accounts Payable | 111M | 101M | 120M | 125M | 134M | 153M | 118M | 153M | 130M | 183M | 200M | 186M | 212M | 281M | 355M | 706M | 959M | 919M | 1.29B | 1.23B | 1.87B | 1.56B | 1.49B | 3.63B | 3.35B | 3.28B | 3.27B | 3.83B | 3.91B | 3.83B | 4.12B |
| Days Payables Outstanding | 46.06 | 44.04 | 52.14 | 50.47 | 47.39 | 56.64 | 48.18 | 52.68 | 41.62 | 56.85 | 58.87 | 47.74 | 48.79 | 55.11 | 53.41 | 83.26 | 83.94 | 57.34 | 64.87 | 57.81 | 83.66 | 64.24 | 56.76 | 151.7 | 152.47 | 138.06 | 149.07 | 197.86 | 221.38 | 195.67 | 202.36 |
| Short-Term Debt | 63M | 12M | 1M | 1M | 1M | 1M | 1M | 1M | 396M | 4M | 3M | 4M | 5M | 4M | 699M | 152M | 50M | 62M | 51M | 308M | 64M | 819M | 469M | 946M | 1.44B | 1.53B | 2.21B | 1.16B | 1.52B | 611M | 541M |
| Deferred Revenue (Current) | 0 | 0 | 35M | 37M | 40M | 43M | 46M | 46M | 34M | 30M | 28M | 39M | 48M | 48M | 125M | 169M | 178M | 275M | 217M | 414M | 496M | 0 | 0 | 0 | 0 | 0 | 34M | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 140M | 155M | 32M | 97M | 59M | 58M | 74M | 141M | 218M | 174M | 122M | 155M | 201M | 363M | 582M | 743M | 939M | 652M | 721M | 715M | 2.16B | 2.63B | 2.4B | 88M | -125M | 544M | 700M | 774M | 754M | 734M | 760M |
| Current Ratio | 2.53x | 3.14x | 2.28x | 2.52x | 2.32x | 2.61x | 2.12x | 1.92x | 1.13x | 2.29x | 2.64x | 2.78x | 2.59x | 2.23x | 1.23x | 1.26x | 1.34x | 1.49x | 1.45x | 1.36x | 1.12x | 1.05x | 1.13x | 1.03x | 0.84x | 0.87x | 0.88x | 0.94x | 0.91x | 1.06x | 1.29x |
| Quick Ratio | 1.71x | 2.32x | 1.44x | 1.75x | 1.52x | 1.90x | 1.42x | 1.33x | 0.83x | 1.63x | 2.08x | 2.10x | 2.01x | 1.82x | 0.97x | 0.97x | 1.09x | 1.25x | 1.17x | 1.15x | 0.88x | 0.85x | 0.90x | 0.83x | 0.65x | 0.66x | 0.61x | 0.68x | 0.68x | 0.82x | 1.00x |
| Cash Conversion Cycle | 105.19 | 102.92 | 91.31 | 100.87 | 90.04 | 79.98 | 98.71 | 82.48 | 98.09 | 95.52 | 72.13 | 103.71 | 105.39 | 103.9 | 134.34 | 100.62 | 53.66 | 51.94 | 49.39 | 55.11 | 62.3 | 71.11 | 55.96 | -40.98 | -39.17 | -25.66 | -1.67 | -53.7 | -71.87 | -74.73 | -62.34 |
| Total Non-Current Liabilities | 571M | 676M | 881M | 931M | 748M | 885M | 684M | 766M | 563M | 1.07B | 1.27B | 1.58B | 1.66B | 1.67B | 5.86B | 4.88B | 4.5B | 4.83B | 4.76B | 6.18B | 7.94B | 7.46B | 5.94B | 6.25B | 5.21B | 5.11B | 4.57B | 4.69B | 4.57B | 4.81B | 4.29B |
| Long-Term Debt | 108M | 207M | 465M | 456M | 315M | 252M | 14M | 105M | 5M | 399M | 399M | 673M | 672M | 674M | 740M | 1.36B | 1.2B | 1.13B | 1.25B | 1.29B | 2.71B | 2.76B | 1.85B | 2.3B | 1.16B | 1.67B | 1.17B | 936M | 504M | 585M | 559M |
| Capital Lease Obligations | 120M | 31M | 22M | 25M | 32M | 46M | 52M | 52M | 3M | 4M | 6M | 6M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 97M | 68M | 24M | 27M | 27M | 29M | 31M | 13M | 14M | 16M | 16M | 18M | 0 | 0 | 36M | 0 | 0 | 0 | 0 | 0 | 1M | 0 | 0 | 0 | 0 | 0 | 61M | 59M | 69M | 64M | 102M |
| Other Non-Current Liabilities | 357M | 318M | 313M | 360M | 363M | 544M | 570M | 578M | 534M | 648M | 855M | 879M | 986M | 993M | 5.12B | 3.52B | 3.29B | 3.7B | 3.5B | 4.89B | 5.22B | 4.7B | 4.08B | 3.94B | 4.05B | 3.45B | 3.34B | 3.69B | 3.99B | 4.16B | 3.63B |
| Total Liabilities | 885M | 944M | 1.14B | 1.21B | 1.04B | 1.19B | 980M | 1.13B | 1.34B | 1.49B | 1.69B | 2.04B | 2.26B | 2.55B | 7.96B | 7.03B | 7.34B | 7.72B | 8.22B | 10.63B | 12.91B | 12.95B | 10.93B | 11.55B | 10.59B | 10.47B | 10.78B | 10.46B | 10.74B | 9.98B | 9.7B |
| Total Debt | 198M | 250M | 499M | 495M | 363M | 312M | 80M | 171M | 401M | 403M | 407M | 680M | 677M | 678M | 1.44B | 1.51B | 1.25B | 1.19B | 1.3B | 1.6B | 2.78B | 3.58B | 2.32B | 3.25B | 2.61B | 3.2B | 3.37B | 2.1B | 2.02B | 1.2B | 1.1B |
| Net Debt | -101M | -87M | 298M | 240M | 146M | -50M | -116M | -62M | 155M | 59M | -26M | 133M | -35M | -166M | 304M | 654M | -379M | -833M | -842M | -1.35B | 1.31B | 1.92B | 1.07B | 2B | 2.04B | 2.75B | 3.13B | 1.73B | 1.56B | 468M | -677M |
| Debt / Equity | 0.29x | 0.35x | 0.58x | 0.43x | 0.29x | 0.32x | 0.30x | 0.61x | 2.36x | 1.82x | 4.90x | 6.60x | 2.26x | 1.05x | - | - | - | - | 1.36x | 0.53x | 1.97x | 1.82x | 0.61x | 1.00x | 0.94x | 1.11x | 0.98x | 0.54x | 0.51x | 0.38x | 0.23x |
| Debt / EBITDA | 3.19x | 4.63x | 23.76x | 14.56x | 121.00x | - | - | - | - | 6.50x | 1.87x | 3.42x | 2.75x | 4.01x | - | - | 8.47x | 2.98x | - | 3.34x | 3.49x | 12.40x | 2.51x | 2.79x | 1.30x | 2.52x | 1.09x | 0.72x | 0.73x | 0.49x | 0.35x |
| Net Debt / EBITDA | -1.63x | -1.61x | 14.19x | 7.06x | 48.67x | - | - | - | - | 0.95x | -0.12x | 0.67x | -0.14x | -0.98x | - | - | -2.58x | -2.09x | - | -2.82x | 1.64x | 6.64x | 1.15x | 1.71x | 1.02x | 2.17x | 1.01x | 0.59x | 0.56x | 0.19x | -0.22x |
| Interest Coverage | 0.89x | 0.40x | 2.86x | 3.17x | 2.13x | 1.70x | 2.83x | 2.38x | -0.44x | -2.25x | 1.85x | 0.44x | 0.21x | 18.83x | -9.31x | -3.97x | -1.86x | 0.02x | -7.09x | 1.92x | -0.45x | -2.12x | 3.51x | 5.28x | 7.32x | 4.62x | 12.44x | - | 17.55x | - | 26.54x |
| Total Equity | 672M | 713M | 859M | 1.14B | 1.24B | 977M | 268M | 281M | 170M | 221M | 83M | 103M | 299M | 648M | -3.68B | -2.35B | -498M | -33M | 961M | 3.03B | 1.41B | 1.97B | 3.81B | 3.26B | 2.78B | 2.89B | 3.43B | 3.91B | 3.99B | 3.16B | 4.73B |
| Equity Growth % | -95.47% | -17% | -24.72% | -8.28% | 27.33% | 264.55% | -4.63% | 65.29% | -23.08% | 166.27% | -19.42% | -65.55% | -53.86% | 117.62% | -56.47% | -371.89% | -1409.09% | -103.43% | -68.27% | 114.98% | -28.37% | -48.39% | 16.76% | 17.54% | -4.04% | -15.58% | -12.37% | -1.91% | 26.16% | -33.23% | -7.56% |
| Book Value per Share | 7.48 | 7.94 | 9.31 | 12.61 | 15.43 | 12.14 | 4.67 | 6.53 | 3.98 | 5.18 | 1.96 | 2.45 | 7.17 | 2.38 | -13.53 | -8.73 | -1.85 | -0.12 | 3.58 | 10.53 | 4.91 | 5.51 | 13.29 | 10.19 | 9.09 | 9.90 | 11.18 | 12.17 | 12.17 | 9.48 | 13.82 |
| Total Shareholders' Equity | 672M | 713M | 859M | 1.14B | 1.24B | 977M | 268M | 281M | 170M | 221M | 83M | 78M | 277M | 628M | -3.68B | -2.35B | -500M | -35M | 961M | 3.03B | 1.39B | 1.97B | 3.81B | 3.26B | 2.78B | 2.89B | 3.43B | 3.91B | 3.99B | 3.16B | 4.73B |
| Common Stock | 1M | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M | 978M |
| Retained Earnings | -537M | -521M | -393M | -495M | -570M | -596M | -620M | -79M | -200M | -174M | -268M | -283M | -204M | -81M | 2.6B | 4.07B | 5.59B | 5.68B | 5.88B | 6.47B | 5.97B | 6.39B | 7.92B | 7.53B | 7.61B | 7.43B | 7.87B | 7B | 6.16B | 5.35B | 5.93B |
| Treasury Stock | -27M | -26M | -12M | -11M | -11M | -10M | -9M | -9M | -9M | -9M | -8M | -5M | -4M | -3M | -5.75B | -5.84B | -5.99B | -6.02B | -6.05B | -5.76B | -5.8B | -5.81B | -5.84B | -5.85B | -5.89B | -5.77B | -5.81B | -4.8B | 0 | 0 | 0 |
| Accumulated OCI | -117M | -118M | -104M | 281M | 462M | 221M | -446M | -417M | -411M | -391M | -438M | -267M | -136M | 99M | -2.62B | -2.67B | -2.17B | -1.76B | -749M | 452M | -635M | -466M | -95M | -239M | -771M | -597M | -482M | -145M | -222M | -404M | 150M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25M | 22M | 20M | 2M | 2M | 2M | 2M | 0 | 0 | 21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Legacy liability and debt
According to the provided balance sheet data, Kodak's total assets have declined from $2.4 billion in 2023Q4 to $1.6 billion by 2026Q1, signaling a persistent reduction in the company's asset base as it navigates structural challenges and attempts to pivot its core business model.
The consistent shrinkage of the asset base suggests that the company is shedding non-core assets or experiencing significant depreciation of its legacy manufacturing footprint. Investors should monitor whether this contraction represents a strategic streamlining or a forced liquidation of value-generating capacity.
Based on reported financial statements, Kodak's total debt has fluctuated significantly, dropping from a peak of $549 million in 2025Q3 to $198 million in 2026Q1, which may indicate aggressive debt repayment or a shift in how the company classifies its long-term financial obligations.
While the headline debt-to-equity ratio appears to have improved to 0.29, the historical volatility in debt levels warrants caution regarding the sustainability of this deleveraging. The rapid reduction in debt may be masking underlying liquidity pressures or reliance on non-recurring cash inflows to satisfy creditors.
As reported in recent filings, Kodak's current ratio has exhibited extreme volatility, swinging from a low of 0.79 in 2025Q3 to 2.53 in 2026Q1, which suggests that the company's ability to cover short-term obligations is highly sensitive to working capital cycles and cash management.
The wide variance in liquidity metrics implies that the company lacks a consistent cash cushion, leaving it vulnerable to sudden operational shocks or commodity price spikes. The reliance on fluctuating current assets to maintain solvency suggests that liquidity management remains a primary operational challenge.
Analysis of the company's equity position reveals a downward trend in retained earnings, which have deepened to a deficit of $537 million as of 2026Q1, indicating that cumulative historical losses continue to weigh heavily on the company's overall book value and shareholder equity.
The persistent negative retained earnings highlight the difficulty the company faces in generating consistent net income to rebuild its capital base. This erosion of equity suggests that the business model has yet to achieve the scale or margin profile necessary to offset its legacy cost structure.
Based on the provided figures, the company's net PPE of $241 million represents a significant portion of total assets, yet the persistent negative profitability suggests that these legacy manufacturing assets may be subject to future impairment risks if the Advanced Materials pivot fails to materialize.
The concentration of value in legacy manufacturing infrastructure creates a non-obvious risk, as these assets may not be easily repurposed for higher-margin chemical applications. Investors should consider that the book value of these assets may not reflect their true economic utility in a declining print market.
Quick answers to the most common questions about buying KODK stock.
As of 2025, Eastman Kodak Company (KODK) had total assets of $1.66B including $841.0M in current assets.
Eastman Kodak Company (KODK) carries total debt of $250.0M, offset by $337.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Eastman Kodak Company (KODK) has total shareholders' equity (book value) of $713.0M ($7.94 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Eastman Kodak Company (KODK) reported a current ratio of 3.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.