KODKNYSEPhotographic Equipment & SuppliesUS GAAP · USD

Eastman Kodak Company Common New

Eastman Kodak Co. is a Rochester-based industrial technology company that has evolved from its photography roots into commercial print, advanced materials, and chemicals. Today it sells printing systems, consumables, software, and specialty materials, while also monetizing its patent portfolio and analytical capabilities.

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Revenue1,069m USD
+2.5 %y/y
Operating profit (EBIT)0.0m USD
+100.0 %y/y
EBIT margin0.0%
+0.7 ppy/y
Net income-128m USD
−225.5 %y/y
Free cash flow446m USD
+807.9 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,500m USD2020: 1,029 m USD2020: EBIT -74 m USD20202021: 1,150 m USD2021: EBIT -46 m USD20212022: 1,205 m USD2022: EBIT -26 m USD20222023: 1,117 m USD2023: EBIT 4.0 m USD20232024: 1,043 m USD2024: EBIT -7.0 m USD20242025: 1,069 m USD2025: EBIT 0.00 m USD20251,0690.00
RevenueOperating profit (EBIT)
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Business

Share of revenue
Print72 %

Commercial print hardware, consumables, software, and services sold to print-intensive industries.

Advanced Materials and Chemicals23 %

Specialty materials, industrial film, chemicals, functional printing, and related services.

Brand3 %

Brand-related activities and licensing tied to the Kodak name and intellectual property.

All Other / Eastman Business Park2 %

Residual operations primarily tied to Eastman Business Park and non-reportable activities.

Products

Reported · share of revenue
85.5%14.2%FY2025100 %
  • Products85.5 %
  • Services14.2 %
  • Growth Products0.3 %

Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Kodak mainly serves commercial printers and print-adjacent businesses that need presses, plates, inks, software, and service support. Its end markets include direct mail, book publishing, newspapers, magazines, and packaging/labels, with some demand also coming from industrial and materials customers. The company also sells licensing and analytical services to external clients that value its patent estate and technical know-how.

Commercial print providers

Buy digital offset plates, CTP systems, presses, inks, and software to run high-volume print operations.

Direct mail and publishing

Use Kodak print systems and consumables for variable, high-quality production runs.

Packaging and labels

Buy printing and imaging solutions for packaging and label production workflows.

Industrial materials customers

Purchase advanced materials, chemicals, and functional printing solutions for specialized applications.

IP and analytical services clients

License Kodak patents or use analytical services for development and commercialization support.

Strategy

Kodak is trying to defend and grow its print franchise while expanding into adjacent materials, chemicals, and functional printing markets. It also seeks to monetize its patent portfolio and analytical capabilities, which can diversify revenue beyond traditional print equipment and consumables. Operationally, the company is focused on managing supply-chain cost pressure, tariffs, and manufacturing reliability while preserving customer relationships.

Grow advanced materials and chemicalsMedium term

Diversifies Kodak beyond mature print markets and creates new revenue pools.

Defend commercial print market positionShort term

Print remains the core business and supports installed-base consumables and service revenue.

Monetize intellectual propertyMedium term

Patent licensing can generate incremental revenue with limited manufacturing intensity.

Improve operational resilienceShort term

Aging plants, supply disruptions, and tariffs can directly affect delivery and margins.

Geography

Kodak is headquartered in Rochester, New York and operates as a global business with sales and supply-chain exposure across many foreign countries. The company’s international footprint matters because it sells into multiple regions, sources materials globally, and faces currency, tariff, and trade-policy risk. Its manufacturing base includes aging facilities, which makes location-specific operational reliability and capital investment especially important.

Risks

Kodak faces a mix of structural print-market pressure and execution risk in its newer materials businesses. The company is also exposed to supply-chain disruption, tariffs, customer financing risk, and aging manufacturing assets, all of which can impair margins, delivery performance, and cash flow. Because it operates globally and relies on patents and regulated data handling, trade, IP, compliance, and cybersecurity issues are also material.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Aging manufacturing facilities and equipment1Supplier and logistics dependence2Competitive pricing pressure3Tariffs and trade restrictions4Customer financing and credit risk5IP and regulatory compliance6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Aging manufacturing facilities and equipmentImpact: HighLikelihood: Medium

    Older plants may fail without timely upgrades, causing delays, repair costs, and lost sales.

    Exposure: Manufacturing operations and customer delivery reliability

  2. Supplier and logistics dependenceImpact: HighLikelihood: Medium

    Kodak relies on third parties for critical materials, components, and operational support.

    ExposureProduction continuityProduct qualityCost structure
  3. Competitive pricing pressureImpact: HighLikelihood: Medium

    Well-funded competitors can undercut pricing or offer broader portfolios, pressuring share and margins.

    Exposure: Commercial print and consumables

  4. Tariffs and trade restrictionsImpact: MediumLikelihood: Medium

    Global sourcing and sales expose Kodak to policy changes that can raise costs and disrupt supply chains.

    Exposure: International operations and gross margin

  5. Customer financing and credit riskImpact: MediumLikelihood: Medium

    Large print equipment purchases may require financing, and weaker credit can reduce order conversion.

    Exposure: Capital equipment sales

  6. IP and regulatory complianceImpact: MediumLikelihood: Medium

    Kodak depends on patent protection and must comply with privacy, sanctions, export, and data laws.

    ExposureLicensing revenueLegal costsReputation
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Accounting

Judgemental items
Revenue recognition across multiple business lines

Equipment, consumables, software, services, and licensing may recognize revenue at different times and under different contract terms.

Impact: Can create quarter-to-quarter volatility and affect comparability.

Pension and postretirement obligations

Discount rates, asset returns, mortality, and funding assumptions drive expense and liability estimates.

Impact: Can materially affect operating expense, OCI, and cash contributions.

Income tax provisions and uncertain tax positions

Kodak operates in multiple jurisdictions and faces evolving tax rules and audits.

Impact: Can change effective tax rate and create period-specific charges.

Impairment of long-lived assets and intangibles

Aging manufacturing assets and acquired or developed intangibles may lose value if cash flows weaken.

Impact: Could trigger non-cash charges and reduce reported equity.

Receivables and credit loss estimates

Customer financing and global credit conditions affect collectability assumptions.

Impact: Can increase provisions and reduce operating profit.

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Last updated: 24/09/2026

Eastman Kodak Company Common New (KODK) Revenue, Earnings & Financials 2025 – Clarifo