Eastman Kodak Company logo KODK - Eastman Kodak Company

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AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 40% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Overvalued Strong
Trading 127.4% above fair value
Current Price $9.21
Bear Case $3.24 64.8% downside ($3.24 - $9.21) / $9.21 = -64.8% $0.27 × 12x P/E
Fair Value $4.05 56.0% downside ($4.05 - $9.21) / $9.21 = -56.0% $0.27 × 15x P/E
Bull Case $4.86 47.2% downside ($4.86 - $9.21) / $9.21 = -47.2% $0.27 × 18x P/E

Adjust Assumptions

15.0x
0.27$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 34.1x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $0.27, the base-case value is $4.05 per share.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples