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 135.3% above fair value
Current Price $9.53
Bear Case $3.24 66.0% downside ($3.24 - $9.53) / $9.53 = -66.0% $0.27 × 12x P/E
Fair Value $4.05 57.5% downside ($4.05 - $9.53) / $9.53 = -57.5% $0.27 × 15x P/E
Bull Case $4.86 49.0% downside ($4.86 - $9.53) / $9.53 = -49.0% $0.27 × 18x P/E

Adjust Assumptions

15.0x
0.27$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 35.3x

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