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Saturday 7 November 2026
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Quad Graphics, Inc
QUAD Industrials Specialty Business Services
Quad Graphics, Inc’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, down 9.44% from fiscal 2024.
- Revenue
- −0.22%
- EPS
- −45.3%
- Free cash flow
- −18.7%
- Total debt
- −5.78%
Quarter to September 2026, against a year earlier
7.61
0.08
−1.04%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
27.67 | 10.75 | 72.47 | 0.00 | 0.00 | 5.41 | 25.71 | 0.00 | 0.00 | 11.24 |
Piotroski F-Score |
7 | 7 | 5 | 3 | 5 | 6 | 7 | 6 | 6 | 6 |
P/S ratio |
0.28 | 0.29 | 0.15 | 0.06 | 0.07 | 0.07 | 0.07 | 0.09 | 0.12 | 0.12 |
Altman Z-Score |
2.15 | 2.18 | 1.84 | 1.54 | 1.09 | 1.31 | 1.58 | 1.43 | 1.43 | 1.57 |
Altman Z″-Score (non-manufacturers) |
0.59 | 0.98 | 0.45 | (0.09) | (1.08) | (1.01) | (1.01) | (1.92) | (2.28) | (1.43) |
P/FCF ratio |
4.51 | 4.08 | 3.11 | 3.77 | 1.42 | 0.96 | 2.24 | 2.38 | 3.17 | 3.41 |
Beneish M-Score |
(3.07) | (2.82) | (2.46) | (2.89) | (3.36) | (2.77) | (2.81) | (3.27) | (3.28) | (2.61) |
P/Operating CF |
13.17 | 7.01 | 2.87 | 1.54 | 2.33 | 1.79 | 1.20 | 2.42 | 2.09 | 2.05 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 65 |
P/B ratio |
2.79 | 2.20 | 1.33 | 0.96 | 2.28 | 1.50 | 1.28 | 2.16 | 6.65 | 2.32 |
Price to Tangible BV |
3.23 | 2.40 | 2.02 | 56.95 | 0.00 | 0.00 | 5.59 | 0.00 | 0.00 | 40.88 |
EV/Sales |
0.54 | 0.52 | 0.37 | 0.32 | 0.36 | 0.28 | 0.24 | 0.25 | 0.25 | 0.25 |
EV/EBITDA |
5.86 | 5.00 | 4.60 | 4.64 | 7.70 | 3.27 | 3.89 | 4.63 | 5.52 | 3.42 |
EV/Operating CF |
6.61 | 5.95 | 5.68 | 8.10 | 5.59 | 6.06 | 4.95 | 4.91 | 6.03 | 6.32 |
EV/FCF |
8.55 | 7.26 | 7.51 | 20.31 | 7.79 | 3.89 | 7.74 | 6.68 | 6.50 | 6.92 |
Quick Ratio |
0.75 | 0.83 | 0.67 | 0.66 | 0.67 | 0.57 | 0.50 | 0.47 | 0.43 | 0.57 |
Current Ratio |
1.17 | 1.22 | 1.11 | 1.12 | 0.99 | 0.85 | 0.89 | 0.74 | 0.76 | 0.86 |
Net Debt/EBITDA |
2.77 | 2.19 | 2.69 | 3.78 | 6.30 | 2.46 | 2.76 | 2.99 | 2.83 | 1.73 |
Debt/Assets |
43.71% | 39.11% | 37.90% | 45.70% | 48.01% | 42.43% | 33.46% | 34.46% | 29.13% | 29.59% |
Debt/Equity |
2.54 | 1.84 | 2.03 | 4.52 | 10.91 | 5.86 | 3.29 | 4.35 | 7.58 | 2.88 |
Asset Turnover |
1.60 | 1.57 | 1.62 | 1.61 | 1.35 | 1.55 | 1.79 | 1.84 | 1.90 | 1.90 |
Operating CF/Net income |
7.88 | 3.21 | 30.66 | (0.99) | (1.48) | 3.61 | 16.62 | (2.66) | (2.22) | 3.55 |
Capex/Depreciation |
(0.29) | (0.26) | (0.27) | (0.39) | (0.29) | 0.48 | (0.39) | (0.30) | (0.08) | (0.10) |
Interest Coverage |
1.52 | 2.44 | 1.19 | 0.39 | (0.67) | 1.56 | 1.11 | 0.37 | 0.30 | 1.92 |
| 10.38% | 22.24% | 1.73% | (44.37%) | (77.97%) | 34.12% | 6.01% | (37.89%) | (60.09%) | 30.25% | |
| 1.66% | 4.27% | 0.35% | (6.40%) | (5.91%) | 1.98% | 0.52% | (3.45%) | (3.62%) | 2.12% | |
ROIC |
4.74% | 7.62% | 4.11% | 1.71% | (3.01%) | 7.64% | 4.66% | 2.74% | 3.01% | 13.90% |
Return on Tangible Assets |
2.72% | 6.96% | 0.68% | (13.78%) | (14.57%) | 6.53% | 1.60% | (13.27%) | (15.18%) | 7.18% |
Average Days of Receivables |
47.51 | 51.04 | 45.57 | 42.43 | 49.72 | 44.63 | 42.28 | 39.02 | 37.32 | 44.47 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
10.78% | 10.34% | 9.00% | 10.13% | 11.44% | 11.01% | 11.15% | 11.65% | 13.35% | 13.47% |
Intangible Assets out of Total Assets |
0.02 | 0.02 | 0.06 | 0.10 | 0.11 | 0.09 | 0.08 | 0.08 | 0.08 | 0.10 |
Share Based Compensation of Revenue |
0.35% | 0.42% | 0.95% | 0.35% | 0.36% | 0.21% | 0.19% | 0.19% | 0.27% | 0.27% |
Graham Net Nets |
(0.99) | (0.89) | (1.73) | (5.40) | (6.02) | (4.60) | (3.72) | (3.11) | (2.15) | (1.96) |
Graham Number |
13.89 | 22.62 | 5.95 | 0.00 | 0.00 | 6.66 | 3.61 | 0.00 | 0.00 | 5.82 |
Earnings Yield |
3.61% | 9.31% | 1.38% | (66.81%) | (66.23%) | 18.50% | 3.89% | (21.58%) | (15.49%) | 8.90% |
Free Cash Flow Yield |
22.18% | 24.50% | 32.11% | 26.55% | 70.67% | 103.70% | 44.64% | 42.06% | 31.59% | 29.32% |
Revenue per Share |
90.39 | 79.66 | 80.04 | 78.47 | 57.90 | 57.71 | 63.45 | 61.11 | 56.14 | 50.84 |
Operating CF per Share |
7.38 | 6.94 | 5.23 | 3.11 | 3.76 | 2.66 | 3.05 | 3.05 | 2.37 | 2.01 |
Capex per Share |
(1.67) | (1.25) | (1.28) | (1.87) | (1.06) | 1.49 | (1.10) | (0.81) | (0.17) | (0.18) |
Free Cash Flow per Share |
5.71 | 5.69 | 3.96 | 1.24 | 2.70 | 4.15 | 1.95 | 2.24 | 2.20 | 1.84 |
Cash per Share |
0.40 | 1.30 | 1.40 | 1.57 | 1.09 | 3.51 | 0.50 | 1.09 | 0.61 | 1.33 |
Shareholders Equity per Share |
9.22 | 10.53 | 9.24 | 4.89 | 1.68 | 2.67 | 3.41 | 2.47 | 1.05 | 2.70 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
9.22 | 10.53 | 9.24 | 4.89 | 1.68 | 2.67 | 3.41 | 2.47 | 1.05 | 2.70 |
Free Cash Flow |
273.40 | 282.00 | 197.00 | 62.00 | 136.60 | 212.80 | 98.90 | 108.50 | 104.80 | 87.50 |
Working Capital |
128.00 | 162.60 | 95.30 | 97.50 | (3.50) | (148.00) | (90.90) | (203.10) | (164.40) | (85.80) |
Capital Expenditures |
(80.20) | (62.00) | (63.60) | (93.50) | (53.60) | 76.30 | (55.70) | (39.10) | (8.10) | (8.40) |
Net Current Asset Value |
(1,226.00) | (1,021.50) | (1,062.30) | (1,261.90) | (1,163.70) | (944.10) | (824.40) | (802.50) | (714.80) | (585.90) |
EV/EBIT |
19.92 | 11.84 | 16.95 | 36.29 | 0.00 | 8.91 | 14.31 | 28.22 | 35.47 | 6.25 |
Capex to Sales |
0.02 | 0.02 | 0.02 | 0.02 | 0.02 | (0.03) | 0.02 | 0.01 | 0.00 | 0.00 |
Price to Operating Income |
10.51 | 6.66 | 7.03 | 6.73 | 0.00 | 2.21 | 4.14 | 10.04 | 17.28 | 3.08 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.19 | 0.17 | 0.20 | 0.23 | 0.21 | 0.22 | 0.21 | 0.21 | 0.21 | 0.17 |
Cash ROIC |
17.26% | 18.24% | 13.44% | 4.34% | 12.82% | 19.02% | 12.89% | 15.67% | 22.91% | 15.55% |
Accounts Receivable Turnover |
7.14 | 7.08 | 7.59 | 8.23 | 6.85 | 7.78 | 8.76 | 8.59 | 9.07 | 8.52 |
Accounts Payable Turnover |
9.95 | 8.77 | 7.34 | 6.99 | 6.34 | 6.95 | 6.36 | 5.74 | 5.73 | 5.43 |
Inventory Turnover |
12.45 | 12.08 | 12.26 | 13.04 | 12.27 | 12.06 | 10.76 | 10.84 | 12.26 | 12.40 |
Average Days of Payables |
34.78 | 45.06 | 56.23 | 47.65 | 50.03 | 56.10 | 63.64 | 57.27 | 62.23 | 65.82 |
Days of Inventory on Hand |
28.54 | 29.11 | 31.61 | 24.07 | 26.61 | 34.55 | 36.34 | 27.41 | 28.33 | 27.62 |
Average Receivables |
606.15 | 558.05 | 525.05 | 476.85 | 427.60 | 380.55 | 367.30 | 344.40 | 294.70 | 284.00 |
Average Payables |
341.15 | 352.55 | 438.95 | 456.50 | 368.35 | 343.65 | 411.95 | 415.10 | 365.15 | 349.35 |
Average Inventory |
272.75 | 255.95 | 262.75 | 244.75 | 190.35 | 198.20 | 243.45 | 219.75 | 170.60 | 152.95 |
Average Assets |
2,708.80 | 2,511.25 | 2,460.75 | 2,443.10 | 2,172.40 | 1,908.85 | 1,795.90 | 1,605.75 | 1,404.35 | 1,275.95 |
Average Common Equity |
432.70 | 481.95 | 491.30 | 352.25 | 164.55 | 110.80 | 154.85 | 146.20 | 84.70 | 89.25 |
Columns are period end dates · fundamentals updated 2 Nov 2026