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 Fair Value Mild
Trading 2.3% below fair value
Current Price $9.82
Bear Case $8.04 18.1% downside ($8.04 - $9.82) / $9.82 = -18.1% $0.67 × 12x P/E
Fair Value $10.05 2.3% upside ($10.05 - $9.82) / $9.82 = 2.3% $0.67 × 15x P/E
Bull Case $12.06 22.8% upside ($12.06 - $9.82) / $9.82 = 22.8% $0.67 × 18x P/E

Adjust Assumptions

15.0x
0.67$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 14.7x

Plain-Language Summary

Applying a 15x P/E to adjusted EPS of $0.67, the base-case value is $10.05 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