Saturday 17 October 2026 Export QUAD’s income statement to Excel — free account

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. In the quarter to June 2026, revenue was flat, EPS grew 3,909.5%, free cash flow grew 3.54% and total debt fell 11.7%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

9.44 0.05 −0.53%

Follow QUAD

Alert me

Market cap: $488.7M
P/E: 14.5×
Fwd P/E: 8.1×
Dividend yield: 3.97%
F-score: 6/9
Altman Z: 1.57
Beneish M: −2.61
Dividend safety: 65/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 39.17%

Capital & Financial Ratios $m

Market Cap 488.73

Revenue 2,377.10

Net Income 31.20

Free Cash Flow 82.10

Net Debt 393.50

Current Ratio 0.87

Debt/Equity 3.21

P/E ratio 14.52

Fwd P/E 8.05

P/S ratio 0.19

P/B ratio 3.63

Past 5Y EPS Growth —

This Y EPS Growth 29.70%

Next Y EPS Growth 13.74%

Next Y revenue growth (2.48%)

Next 5Y EPS Growth 53.93%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 67.29%

10-year low 10-year high

P/S against its own 10 years 74.75%

10-year low 10-year high

P/B against its own 10 years 93.33%

10-year low 10-year high

EV/Sales against its own 10 years 59.42%

10-year low 10-year high

EV/FCF against its own 10 years 73.98%

10-year low 10-year high

Dividends

Payout Ratio 0.60

Annual Dividend Rate 0.38

Annual Dividend Yield 3.97%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.40	0.10 0.10 0.10
2025	0.30	0.08 0.08 0.08 0.08
2024	0.20	0.05 0.05 0.05 0.05
2022	Powerpack
2021	Powerpack
2020	0.15	0.15
2019	1.05	0.30 0.30 0.30 0.15
2018	1.20	0.30 0.30 0.30 0.30
2017	1.20	0.30 0.30 0.30 0.30
2016	1.20	0.30 0.30 0.30 0.30

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	53	29	63	7
Receivables	316	273	295	298
Inventory	179	162	144	156
Other	—	—	—	—
	588	534	538	502

	2023	2024	2025	Q'26
Payables	374	357	342	315
ST’ Debt	152	28	47	50
Other	238	289	212	184
	791	699	624	574

Compound Annual Growth %

	10y	5y	3y
Sales	(6.22%)	(3.75%)	(9.05%)
Cash Flow	(12.10%)	(12.80%)	(14.72%)
Earnings	0.00%	0.00%	42.66%
Book Value	(11.24%)	8.68%	(9.40%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	581	578	—	—	—
’25	629	572	588	631	2,420
’24	655	634	675	708	2,672
’23	767	703	700	788	2,958
’22	744	758	830	885	3,217
’21	706	694	706	855	2,960
’20	823	585	679	843	2,930

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(94)	53	—	—	—
’25	(89)	47	(8)	146	96
’24	(52)	4	2	159	113
’23	(51)	51	41	107	148
’22	(17)	(7)	(7)	185	155
’21	73	16	(67)	114	137
’20	45	23	40	83	190

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(107)	41	—	—	—
’25	(100)	40	(13)	162	88
’24	(68)	(9)	32	150	105
’23	(72)	35	27	119	109
’22	(35)	(18)	(22)	175	99
’21	67	29	(49)	165	213
’20	19	14	30	74	137

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.13	0.07	—	—	—
’25	0.11	0.00	0.21	0.22	0.54
’24	(0.60)	(0.06)	(0.52)	0.09	(1.07)
’23	(0.50)	(0.12)	(0.06)	(0.47)	(1.14)
’22	(0.02)	0.10	0.27	(0.18)	0.18
’21	0.19	0.66	0.27	(0.41)	0.71
’20	(0.25)	(0.46)	0.03	(1.85)	(2.53)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	7.32	18.16	11.56	3.63	2.00	2.95	2.12	2.68	4.06	4.50	Analyst estimates 2026–2028 Powerpack
	High	29.50	29.04	31.29	16.88	6.97	6.36	7.55	6.41	9.13	8.04
People
People	Employees	22,600	11,800	20,600	19,600	15,800	15,100	15,300	13,150	12,200	10,100
	Revenue/emp, $m	0.19	0.33	0.19	0.20	0.19	0.20	0.21	0.22	0.22	0.24
Income, $m
Income, $m	Revenue	4,330	3,951	3,986	3,923	2,930	2,960	3,217	2,958	2,672	2,420
	Gross margin, %	21.59	21.76	19.18	18.64	20.30	19.27	18.59	19.49	21.70	21.62
	EBT	59	109	27	(80)	(106)	47	18	(43)	(44)	33
	EBT margin, %	1.37	2.76	0.66	(2.03)	(3.62)	1.59	0.55	(1.44)	(1.67)	1.34
	Net income	45	107	8	(156)	(128)	38	9	(55)	(51)	27
	Depreciation	281	236	234	237	184	160	144	131	104	80
Per share, $
Per share, $	Revenue	90.39	79.66	80.04	78.47	57.90	57.71	63.45	61.11	56.14	50.84
	Earnings	0.94	2.16	0.17	(3.12)	(2.53)	0.74	0.18	(1.14)	(1.07)	0.57
	Cash flow	7.38	6.94	5.23	3.11	3.76	2.66	3.05	3.05	2.37	2.01
	Capex	(1.67)	(1.25)	(1.28)	(1.87)	(1.06)	1.49	(1.10)	(0.81)	(0.17)	(0.18)
	Free cash flow	5.71	5.69	3.96	1.24	2.70	4.15	1.95	2.24	2.20	1.84
	Book value	9.22	10.53	9.24	4.89	1.68	2.67	3.41	2.47	1.05	2.70
	Shares, m	48	50	50	50	51	51	51	48	48	48
Valuation, ×
Valuation, ×	P/E	27.67	10.75	72.47	0.00	0.00	5.41	25.71	0.00	0.00	11.24
	P/S	0.28	0.29	0.15	0.06	0.07	0.07	0.07	0.09	0.12	0.12
	P/B	2.79	2.20	1.33	0.96	2.28	1.50	1.28	2.16	6.65	2.32
	EV/Sales	0.54	0.52	0.37	0.32	0.36	0.28	0.24	0.25	0.25	0.25
	EV/FCF	8.55	7.26	7.51	20.31	7.79	3.89	7.74	6.68	6.50	6.92
Cash, $m
Cash, $m	Operating cash flow	354	344	261	156	190	137	155	148	113	96
	Capex	(80)	(62)	(64)	(93)	(54)	76	(56)	(39)	(8)	(8)
	Free cash flow	273	282	197	62	137	213	99	109	105	88
Balance, $m
Balance, $m	Working capital	128	163	95	98	(3)	(148)	(91)	(203)	(164)	(86)
	Total debt	1,123	959	936	1,105	925	802	569	520	378	371
	Net debt	1,104	895	866	1,026	870	622	544	467	349	307
	Shareholders’ equity	442	522	460	244	85	137	173	120	50	129
Returns, %
Returns, %	ROA	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
	ROE	10.38	22.24	1.73	(44.37)	(77.97)	34.12	6.01	(37.89)	(60.09)	30.25

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BV BrightView Holdings, Inc.	$975.1M	— (loss-making)	36.5×	+1.31% (above 0%: growing)	n/m	+69.17% (above 0%: growing)	21.17%	4.50%	Compare
RHLD Resolute Holdings Management, Inc.	$921.6M	20.6×	—	+295.65% (above 0%: growing)	n/m	+64.98% (above 0%: growing)	34.87%	7.44%	Compare
KODK Eastman Kodak Company	$878.2M	— (loss-making)	19.1×	+18.25% (above 0%: growing)	n/m	+100.00% (above 0%: growing)	26.37%	4.82%	Compare
BUUU BUUU Group Limited	$819.7M	—	—	—	—	+124.80% (above 0%: growing)	—	—	Compare
TRNS Transcat, Inc.	$773.2M	217×	195×	+21.62% (above 0%: growing)	−60.00% (below 0%: shrinking)	+595.90% (above 0%: growing)	33.07%	4.00%	Compare
BKSY BlackSky Technology Inc.	$755.1M	— (loss-making)	— (loss-making)	+50.08% (above 0%: growing)	n/m	+36.34% (above 0%: growing)	79.00%	(23.41%)	Compare
CASS Cass Information Systems, Inc	$695.3M	19.3×	15.8×	+12.24% (above 0%: growing)	+23.88% (above 0%: growing)	+625.84% (above 0%: growing)	92.56%	0.00%	Compare
QUAD Quad Graphics, Inc	$488.7M	14.5×	8.1×	+0.98% (above 0%: growing)	n/m	+3.54% (above 0%: growing)	21.02%	2.58%
SPIR Spire Global, Inc.	$377.8M	— (loss-making)	— (loss-making)	−5.91% (below 0%: shrinking)	n/m	+25.49% (above 0%: growing)	34.12%	(110.22%)	Compare
Median of peers	$796.4M	20.6×	27.8×	+18.25%	—	+84.59%	34.12%	4.00%

All 44 Specialty Business Services stocks →

Quad Graphics, Inc (QUAD) key facts

Concern: Quad Graphics, Inc’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, down 9.44% from fiscal 2024.
Quad Graphics, Inc (QUAD) is a Specialty Business Services company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, QUAD traded at $9.44, a market capitalization of $488.7 million.
Quad Graphics, Inc pays an annual dividend of $0.38 per share, a yield of 3.97%, with a payout ratio of 59.5%.
Return on equity was 30.3% and debt-to-equity 3.21.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 1.57 (distress zone) for fiscal 2025.