Eastman Kodak Co (Eastman Kodak Co) Operating Income : $24 Mil (TTM As of Dec. 2023)

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What is Eastman Kodak Co Operating Income?

Eastman Kodak Co's Operating Income for the three months ended in Dec. 2023 was $-8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $24 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Eastman Kodak Co's Operating Income for the three months ended in Dec. 2023 was $-8 Mil. Eastman Kodak Co's Revenue for the three months ended in Dec. 2023 was $275 Mil. Therefore, Eastman Kodak Co's Operating Margin % for the quarter that ended in Dec. 2023 was -2.91%.

Eastman Kodak Co's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Eastman Kodak Co's annualized ROC % for the quarter that ended in Dec. 2023 was -0.90%. Eastman Kodak Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 25.32%.

Eastman Kodak Co Operating Income Historical Data

The historical data trend for Eastman Kodak Co's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Eastman Kodak Co Operating Income Chart

Eastman Kodak Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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-66.00

-64.00

-46.00

-16.00

16.00

Eastman Kodak Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															6.00	14.00	15.00	3.00	-8.00

Eastman Kodak Co Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $24 Mil.

Eastman Kodak Co (NYSE:KODK) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Eastman Kodak Co's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-32 * ( 1 - 44.44% )	/	( (1987	+	1965)	/ 2 )
=	-17.7792	/	1976
=	-0.90 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2357	-	124	-	( 246	-	max(0, 271	-	712	+	246	))
=	1987

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	2355	-	135	-	( 255	-	max(0, 283	-	712	+	255	))
=	1965

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Eastman Kodak Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	100	/	( ( (194 + max(209, 0))	+	(199 + max(188, 0)) )	/	2 )
=	100	/	( ( 403	+	387 )	/	2 )
=	100	/	395
=	25.32 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(191	+	239	+	36)	-	(124	+	0	+	133)
=	209

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(195	+	217	+	45)	-	(135	+	37	+	97)
=	188

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Eastman Kodak Co's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	-8	/	275
	=	-2.91 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Eastman Kodak Co Operating Income Related Terms

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Eastman Kodak Co (Eastman Kodak Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Eastman Kodak Co (NYSE:KODK) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

KODN:Germany

Address

343 State Street, Rochester, NY, USA, 14650

Website

https://www.kodak.com

Eastman Kodak Co is a United States-based company. The company operates via several business segments: Traditional Printing, Digital Printing, Brand and Advanced Materials and Chemicals. The Traditional Printing segment which derives the majority of revenue offers digital and traditional products and services to various businesses, such as commercial print and book publishing, and this segment contributes over half of the total revenue. The company has a global business presence, with overseas markets accounting for a majority of revenue.

Executives

Philippe D Katz	director	160 BROADWAY, NEW YORK NY 10038
David Bovenzi	director	C/O EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650
Michael Sileck	director	C/O WORLD WRESTLING ENTERTAINMENT, INC., 1241 EAST MAIN STREET, STAMFORD CT 06902
Randy Vandagriff	officer: Vice President	EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650
Kennedy Lewis Investment Management Llc	director	80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004
Kennedy Lewis Capital Partners Master Fund Lp	director	80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004
Kennedy Lewis Capital Partners Master Fund Iii Lp	director	111 WEST 33RD STREET, SUITE 1910, NEW YORK NY 10120
Kennedy Lewis Gp Iii Llc	director	111 WEST 33RD STREET, SUITE 1910, NEW YORK NY 10120
Kathleen B. Lynch	director	C/O EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650
Richard T Michaels	officer: CAO and Corp. Controller	C/O EASTMAN KODAK COMPANY, 343 STATE STREET, ROCHESTER NY 14650
Darren Richman	director	80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004
David Chene	director	80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004
Kennedy Lewis Management Lp	director	225 LIBERTY STREET, SUITE 4210, NEW YORK NY 10281
Klm Gp Llc	director	80 BROAD STREET, 22ND FLOOR, NEW YORK NY 10004
Kennedy Lewis Investment Holdings Llc	director	111 WEST 33RD STREET, SUITE 1910, NEW YORK NY 10120