Honestly, whenever someone mentions Eastman Kodak, the first thing most people think of is a dusty yellow box of film sitting in their grandmother's attic. They think of a company that "failed" to see the digital revolution coming. But if you’re looking at the eastman kodak stock price today, you’re seeing a business that refuses to stay in the past. It’s a scrappy, weirdly diversified entity that is currently trading around $7.14 per share as of the market close on January 16, 2026.
That’s a bit of a tumble. The stock dropped about 3.77% in the last session. Why? Well, there wasn't one big "smoking gun" headline. It was more like a slow leak. Trading volume was light, around 1.2 million shares, which is actually a bit under its usual pace. People are watching. They’re waiting. And they’re wondering if this old dog can actually finish its pivot into pharmaceuticals and advanced chemicals.
What is actually driving the price right now?
Wall Street is a "what have you done for me lately" kind of place. For Kodak, "lately" has been a mixed bag of shrinking legacy revenue and high-stakes debt management. The company is currently wrestling with a significant deadline: May 2026. That is when a massive chunk of their debt—nearly $477 million in term loans plus preferred stock obligations—comes due.
S&P Global Ratings recently kept their rating at CCC+ but shifted the outlook to negative. That sounds scary, and it is. It basically means Kodak is walking a tightrope. If they can’t refinance or pay off that debt by May, things get messy.
But here is the twist. Kodak has a secret weapon: their pension fund. They’ve been working on a "pension reversion" process. Essentially, they had way more money in the pension plan than they needed to cover their retirees. They’ve already pulled out hundreds of millions to pay down debt, and there’s potentially another $200 million coming in 2026.
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It’s a bizarre financial maneuver that most companies can't pull off.
The shift from film to pharma
You can’t talk about the stock without talking about what they actually do now. They aren't just selling film for Hollywood movies (though they still do that, and thank goodness for Christopher Nolan keeping that dream alive).
- Advanced Materials & Chemicals (AM&C): This is the future of the company. In the third quarter of 2025, this segment saw revenue jump 15% to $82 million. They are making things for batteries, light-blocking fabrics, and most importantly, pharmaceutical ingredients.
- The Print Segment: This is still the big breadwinner, but it's a shrinking one. It brought in $177 million last quarter, down about 3%. It’s the cash cow that's running out of milk.
- The New Lab: They are building a new facility to make diagnostic test reagents for the FDA. This is part of a larger plan to be a "U.S.-based manufacturer" for critical supplies.
Is the stock a "buy" or just a gamble?
If you ask ten different analysts, you'll get ten different shrugs. Most big banks don't even cover Kodak anymore because it's considered a "special situations" stock. The 52-week range is wild, swinging from a low of $4.93 to a high of $9.96.
If you bought at the bottom last year, you’re up big. If you bought at the top in December 2025, you’re feeling the sting today.
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Some technical indicators are actually flashing "Strong Buy" because the stock has been in a general rising trend over the last six months, despite today's dip. But that’s only if you believe they’ll clear that May 2026 debt hurdle. If they stumble there, the technicals won't matter.
Why the volatility?
Kodak is a "battleground stock." You have believers who think CEO Jim Continenza is a genius for extracting value from the pension and pivoting to chemicals. Then you have the skeptics who see a 25x leverage ratio and think the company is just a zombie.
Insider activity has been interesting lately. The General Counsel, Kim VanGelder, and other execs like CFO David Bullwinkle have been exercising options. Sometimes they sell some to cover taxes, which can create temporary downward pressure on the price. When investors see "insider selling" on their screens, they often panic-sell, even if it’s just a routine tax move.
Looking ahead to the March earnings call
The next big date on the calendar is March 16, 2026. That’s when the Q4 2025 earnings are expected to drop.
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Investors are going to be laser-focused on one thing: Free Cash Flow. Kodak needs to show that their new businesses aren't just "cool ideas" but are actually generating enough cash to offset the decline in traditional printing. If the AM&C segment continues its double-digit growth, the stock could easily retest those $9.00 highs.
Actionable Insights for Investors:
- Watch the Debt: The May 2026 maturity is the only date that truly matters. Any news regarding a successful refinancing or a final pension asset liquidation will likely cause a massive price swing.
- Monitor the AM&C Segment: Don't look at the total revenue; look at the growth in Advanced Materials. If that stalls, the bull case for Kodak falls apart.
- Small Positions Only: This isn't a "widows and orphans" stock. It’s volatile and highly dependent on complex financial engineering.
- Check the Short Interest: Currently, short interest is hovering around 10-17%. A sudden piece of good news could trigger a "short squeeze," leading to a rapid, albeit temporary, price spike.
Kodak isn't the company it was in 1990, but it isn't the ghost people think it is either. It's a high-risk manufacturing play disguised as a nostalgia brand.
Next Steps for You
- Check the live ticker: Stock prices move in seconds. Verify the current price on the NYSE before making any trades.
- Review the 8-K filings: Go to the Kodak Investor Relations page and read the "Management's Discussion" section. It's boring, but it's where the truth about their cash reserves is hidden.
- Set a Price Alert: Given the $7.14 level, setting an alert for $6.80 (support) and $8.00 (resistance) can help you stay unemotional about the daily noise.