What is Quad / Graphics Inc's earnings per share (EPS)?

Quad / Graphics Inc (QUAD) reported diluted earnings per share of $0.54 for fiscal year 2025. This represents a 150.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Quad / Graphics Inc Financials

QUAD

Trailing 12 months to March 31, 2026

Revenue $2.4B -10.4% YoY

Net Income $27.4M +261.2% YoY

EPS (Diluted) $0.56 +251.4% YoY

Free Cash Flow $44.0M +72.5% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Apr 29, 2026 Currency USD FYE December

Quad / Graphics Inc (QUAD) reported $2.4B in revenue over the twelve months to Mar 31, 2026, down 10.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI QUAD FY2025 2026-07-29

A shrink-to-strength model is visible here, with cash generation and cost reset rebuilding profits on a smaller revenue base.

Recent years show margin repair without top-line help: gross margin widened from 18.6% to 21.6% even as sales contracted. Meanwhile, total liabilities fell from $1.53B to $1.12B, suggesting the latest earnings rebound came from a leaner cost structure and debt paydown, not from recovering volume.

Cash conversion has been sturdier than headline earnings suggest: in the latest year, operating cash flow reached $95.9M against net income of $27.0M. Because free cash flow also stayed positive through the prior loss years, depreciation and working-capital release appear to be doing real economic work rather than merely flattering accounting profit.

Liquidity remains tight even after the improvement: the current ratio stayed below 1.0x in every shown year and was 0.9x most recently. That means the balance sheet is being repaired with recurring internal cash generation, while the smaller cash balance leaves less room for a stumble in day-to-day operations.

Financial Health Signals

Financial Health Score 34/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Quad / Graphics Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Quad / Graphics Inc has an operating margin of 4.0%, meaning the company retains $4 of operating profit per $100 of revenue. This results in a moderate score of 46/100, indicating healthy but not exceptional operating efficiency. This is up from 0.7% the prior year.

Growth

Quad / Graphics Inc's revenue declined 9.4% year-over-year, from $2.7B to $2.4B. This contraction results in a growth score of 11/100.

Leverage

Quad / Graphics Inc has a moderate D/E ratio of 2.51. This balance of debt and equity financing earns a leverage score of 37/100.

Liquidity

Quad / Graphics Inc's current ratio of 0.86 is below the typical benchmark, resulting in a score of 14/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Quad / Graphics Inc has a free cash flow margin of 2.1%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Quad / Graphics Inc's ROE of 21.0% shows moderate profitability relative to equity, earning a score of 61/100. This is up from -102.0% the prior year.

Altman Z-Score Distress

1.68

Quad / Graphics Inc scores 1.68, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

6/8

Quad / Graphics Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

3.55x

For every $1 of reported earnings, Quad / Graphics Inc generates $3.55 in operating cash flow ($95.9M OCF vs $27.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.92x

Quad / Graphics Inc earns $1.92 in operating income for every $1 of interest expense ($97.0M vs $50.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$2.4B

YoY-9.4%

5Y CAGR-3.8%

10Y CAGR-6.2%

Quad / Graphics Inc generated $2.4B in revenue in fiscal year 2025. This represents a decrease of 9.4% from the prior year.

EBITDA

$176.5M

YoY+42.6%

5Y CAGR+4.9%

Quad / Graphics Inc's EBITDA was $176.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 42.6% from the prior year.

Net Income

$27.0M

YoY+153.0%

Quad / Graphics Inc reported $27.0M in net income in fiscal year 2025. This represents an increase of 153.0% from the prior year.

EPS (Diluted)

$0.54

YoY+150.5%

Quad / Graphics Inc earned $0.54 per diluted share (EPS) in fiscal year 2025. This represents an increase of 150.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$50.7M

YoY-9.0%

5Y CAGR-17.1%

10Y CAGR-13.5%

Quad / Graphics Inc generated $50.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 9.0% from the prior year.

Cash & Debt

$63.3M

YoY+116.8%

5Y CAGR+2.8%

10Y CAGR+10.0%

Quad / Graphics Inc held $63.3M in cash against $322.9M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.30

YoY+50.0%

Quad / Graphics Inc paid $0.30 per share in dividends in fiscal year 2025. This represents an increase of 50.0% from the prior year.

Shares Outstanding

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin

21.6%

YoY-0.1pp

5Y CAGR+1.3pp

10Y CAGR+1.7pp

Quad / Graphics Inc's gross margin was 21.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.

Operating Margin

4.0%

YoY+3.3pp

5Y CAGR+5.6pp

10Y CAGR+22.1pp

Quad / Graphics Inc's operating margin was 4.0% in fiscal year 2025, reflecting core business profitability. This is up 3.3 percentage points from the prior year.

Net Margin

1.1%

YoY+3.0pp

5Y CAGR+5.5pp

10Y CAGR+15.1pp

Quad / Graphics Inc's net profit margin was 1.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 3.0 percentage points from the prior year.

Return on Equity

21.0%

YoY+123.0pp

Quad / Graphics Inc's ROE was 21.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 123.0 percentage points from the prior year.

Capital Allocation

R&D Spending

$2.9M

YoY-9.4%

5Y CAGR-0.7%

10Y CAGR-11.9%

Quad / Graphics Inc invested $2.9M in research and development in fiscal year 2025. This represents a decrease of 9.4% from the prior year.

Share Buybacks

$8.0M

Quad / Graphics Inc spent $8.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$45.2M

YoY-21.0%

5Y CAGR-5.8%

10Y CAGR-10.2%

Quad / Graphics Inc invested $45.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 21.0% from the prior year.

QUAD Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QUAD quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$2.4B	$2.4B-9.4%	$2.7B-9.7%	$3.0B-8.1%	$3.2B+8.7%	$3.0B+1.1%	$2.9B-25.3%	$3.9B-1.6%	$4.0B+0.9%	$4.0B-8.7%	$4.3B-5.8%	$4.6B-3.8%	$4.8B-0.4%	$4.8B+17.1%	$4.1B-5.3%	$4.3B
Cost of Revenue	$1.9B	$1.9B-9.3%	$2.1B-12.1%	$2.4B-9.1%	$2.6B+9.6%	$2.4B+2.4%	$2.3B-26.9%	$3.2B-0.9%	$3.2B+4.2%	$3.1B-8.9%	$3.4B-7.8%	$3.7B-3.3%	$3.8B+0.1%	$3.8B+19.4%	$3.2B-3.6%	$3.3B
Gross Profit	$516.8M	$523.3M-9.8%	$580.0M+0.6%	$576.5M-3.6%	$598.2M+4.9%	$570.5M-4.1%	$594.8M-18.7%	$731.2M-4.3%	$764.4M-11.1%	$859.9M-8.0%	$934.7M+2.0%	$916.8M-5.5%	$970.5M-2.4%	$994.0M+9.2%	$910.5M-11.0%	$1.0B
R&D Expenses	N/A	$2.9M-9.4%	$3.2M+3.2%	$3.1M-6.1%	$3.3M+6.5%	$3.1M+3.3%	$3.0M-16.7%	$3.6M0.0%	$3.6M-60.0%	$9.0M-3.2%	$9.3M-9.7%	$10.3M-8.8%	$11.3M-15.7%	$13.4M+1.5%	$13.2M-21.9%	$16.9M
SG&A Expenses	$320.8M	$325.9M-8.7%	$356.8M+3.6%	$344.5M-3.9%	$358.6M+10.0%	$326.0M-2.7%	$335.1M-15.7%	$397.6M+10.8%	$358.9M-12.2%	$408.7M-12.4%	$466.7M+4.1%	$448.3M+5.4%	$425.5M+2.3%	$416.0M+19.9%	$347.1M-14.7%	$407.0M
Operating Income	$95.1M	$97.0M+405.2%	$19.2M-25.3%	$25.7M-52.0%	$53.5M-42.3%	$92.8M+301.7%	-$46.0M-232.6%	$34.7M-60.3%	$87.3M-49.5%	$172.8M+47.3%	$117.3M+114.1%	-$830.0M-687.4%	$141.3M-0.6%	$142.2M+33.5%	$106.5M-32.1%	$156.9M
Interest Expense	$48.1M	$50.5M-21.7%	$64.5M-7.9%	$70.0M+44.6%	$48.4M-18.8%	$59.6M-13.4%	$68.8M-23.6%	$90.0M+23.0%	$73.2M+3.2%	$70.9M-8.2%	$77.2M-12.7%	$88.4M-4.8%	$92.9M+8.7%	$85.5M+1.8%	$84.0M-22.2%	$108.0M
Income Tax	$6.2M	$5.5M-14.1%	$6.4M-50.0%	$12.8M+52.4%	$8.4M-11.6%	$9.5M+3066.7%	$300K+101.2%	-$24.4M-916.7%	-$2.4M+73.9%	-$9.2M-170.8%	$13.0M+104.6%	-$282.8M-1500.0%	$20.2M-13.3%	$23.3M+174.0%	-$31.5M-221.2%	$26.0M
Net Income	$27.4M	$27.0M+153.0%	-$50.9M+8.1%	-$55.4M-695.7%	$9.3M-75.4%	$37.8M+129.5%	-$128.3M+17.9%	-$156.3M-1938.8%	$8.5M-92.1%	$107.2M+138.8%	$44.9M+107.0%	-$641.9M-3551.1%	$18.6M-42.8%	$32.5M-62.8%	$87.4M+286.4%	-$46.9M
EPS (Diluted)	$0.56	$0.54+150.5%	-$1.07+6.1%	-$1.14-733.3%	$0.18-74.6%	$0.71+128.1%	-$2.53+18.9%	-$3.12-2050.0%	$0.16-92.3%	$2.07+130.0%	$0.90+106.7%	-$13.40-3626.3%	$0.38-41.5%	$0.65-63.5%	$1.78+278.0%	-$1.00

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$581.0M-7.9%	$630.6M+7.2%	$588.0M+2.8%	$571.9M-9.1%	$629.4M-11.2%	$708.4M+5.0%	$674.8M+6.4%	$634.2M
Cost of Revenue	$458.1M-7.3%	$494.4M+8.9%	$454.1M+1.3%	$448.1M-10.4%	$500.0M-9.0%	$549.4M+4.1%	$527.6M+6.8%	$493.9M
Gross Profit	$122.9M-9.8%	$136.2M+1.7%	$133.9M+8.2%	$123.8M-4.3%	$129.4M-18.6%	$159.0M+8.0%	$147.2M+4.9%	$140.3M
SG&A Expenses	$78.4M-3.6%	$81.3M+0.5%	$80.9M+0.9%	$80.2M-4.0%	$83.5M-13.6%	$96.6M+9.3%	$88.4M-0.3%	$88.7M
Operating Income	$17.7M-52.5%	$37.3M+41.3%	$26.4M+92.7%	$13.7M-30.1%	$19.6M-0.5%	$19.7M+502.0%	-$4.9M-132.5%	$15.1M
Interest Expense	$10.0M-17.4%	$12.1M-5.5%	$12.8M-3.0%	$13.2M+6.5%	$12.4M-17.9%	$15.1M-11.2%	$17.0M-1.2%	$17.2M
Income Tax	$1.7M+41.7%	$1.2M-60.0%	$3.0M+900.0%	$300K-70.0%	$1.0M+900.0%	$100K-96.7%	$3.0M+233.3%	$900K
Net Income	$6.2M-44.1%	$11.1M+8.8%	$10.2M+10300.0%	-$100K-101.7%	$5.8M+23.4%	$4.7M+119.0%	-$24.7M-782.1%	-$2.8M
EPS (Diluted)	$0.13-40.9%	$0.22+4.8%	$0.21	$0.00-100.0%	$0.11+10.0%	$0.10+119.2%	-$0.52-766.7%	-$0.06

Not reported in any period shown, so not listed: R&D Expenses.

QUAD Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QUAD quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$1.3B-3.5%	$1.3B-14.0%	$1.5B-11.3%	$1.7B-10.0%	$1.9B-2.0%	$1.9B-20.2%	$2.4B-2.1%	$2.5B+0.7%	$2.5B-4.6%	$2.6B-9.7%	$2.8B-29.0%	$4.0B-3.8%	$4.2B+1.6%	$4.1B-13.4%	$4.7B
Current Assets	$538.4M+0.8%	$534.3M-9.1%	$587.7M-16.6%	$704.5M-12.9%	$809.1M+19.1%	$679.2M-25.4%	$910.9M-3.8%	$946.6M+4.2%	$908.5M+0.7%	$902.6M-8.9%	$991.3M-12.6%	$1.1B+5.5%	$1.1B+8.5%	$990.0M-20.2%	$1.2B
Cash & Equivalents	$63.3M+116.8%	$29.2M-44.8%	$52.9M+109.9%	$25.2M-86.0%	$179.9M+225.9%	$55.2M-29.9%	$78.7M+13.2%	$69.5M+7.9%	$64.4M+235.4%	$19.2M-21.0%	$24.3M+153.1%	$9.6M-26.7%	$13.1M-22.5%	$16.9M-34.0%	$25.6M
Inventory	$143.5M-11.6%	$162.4M-9.2%	$178.8M-31.4%	$260.7M+15.3%	$226.2M+32.9%	$170.2M-19.1%	$210.5M-24.6%	$279.0M+13.2%	$246.5M-7.1%	$265.4M-5.2%	$280.1M-2.7%	$287.8M+5.6%	$272.5M+12.2%	$242.9M-2.6%	$249.5M
Goodwill	$107.6M+7.3%	$100.3M-2.6%	$103.0M+19.2%	$86.4M0.0%	$86.4M-16.1%	$103.0M0.0%	$103.0M+131.5%	$44.5M	$0	$0	$0-100.0%	$775.5M+0.3%	$773.1M+0.6%	$768.6M-2.4%	$787.1M
Total Liabilities	$1.1B-10.0%	$1.2B-10.1%	$1.4B-9.1%	$1.5B-12.8%	$1.8B-4.9%	$1.8B-15.2%	$2.2B+8.2%	$2.0B+4.1%	$1.9B-9.3%	$2.1B-12.2%	$2.4B-15.1%	$2.9B-0.8%	$2.9B+0.5%	$2.9B-16.5%	$3.4B
Current Liabilities	$624.2M-10.7%	$698.7M-11.6%	$790.8M-0.6%	$795.4M-16.9%	$957.1M+40.2%	$682.7M-16.1%	$813.4M-4.5%	$851.3M+14.1%	$745.9M-3.7%	$774.6M-4.1%	$807.4M-6.4%	$862.6M-2.9%	$888.8M+18.1%	$752.8M-19.0%	$928.9M
Long-Term Debt	$322.9M-7.5%	$349.1M-3.7%	$362.5M-28.5%	$506.7M-8.7%	$554.9M-38.5%	$902.7M-14.7%	$1.1B+19.9%	$882.6M-2.3%	$903.5M-11.4%	$1.0B-17.8%	$1.2B-4.6%	$1.3B+2.7%	$1.3B+4.5%	$1.2B-9.8%	$1.3B
Total Equity	$128.6M+157.7%	$49.9M+142.4%	-$117.6M-168.0%	$172.9M+26.4%	$136.8M+62.7%	$84.1M-62.9%	$226.6M-48.8%	$442.5M-15.3%	$522.4M+18.3%	$441.5M+4.2%	$423.9M-63.2%	$1.2B-10.6%	$1.3B+4.3%	$1.2B-5.2%	$1.3B
Retained Earnings	-$623.2M+1.9%	-$635.1M-10.7%	-$573.9M-10.7%	-$518.5M+1.8%	-$527.8M+6.7%	-$566.0M-33.6%	-$423.5M-100.3%	-$211.4M-29.8%	-$162.9M+21.1%	-$206.4M-9.7%	-$188.1M-136.5%	$515.2M-7.8%	$558.8M-5.0%	$588.1M-9.6%	$650.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.2B-1.8%	$1.3B-1.2%	$1.3B+2.2%	$1.2B-0.5%	$1.2B-4.0%	$1.3B-6.5%	$1.4B+1.5%	$1.4B
Current Assets	$522.6M-2.9%	$538.4M+1.7%	$529.4M+7.4%	$492.8M-3.6%	$511.1M-4.3%	$534.3M-9.7%	$591.9M+14.1%	$518.7M
Cash & Equivalents	$7.0M-88.9%	$63.3M+921.0%	$6.2M-7.5%	$6.7M-17.3%	$8.1M-72.3%	$29.2M+133.6%	$12.5M-2.3%	$12.8M
Inventory	$164.7M+14.8%	$143.5M-19.0%	$177.2M+15.5%	$153.4M-5.0%	$161.4M-0.6%	$162.4M-19.5%	$201.7M+15.6%	$174.5M
Goodwill	$107.6M0.0%	$107.6M0.0%	$107.6M0.0%	$107.6M+7.3%	$100.3M0.0%	$100.3M0.0%	$100.3M0.0%	$100.3M
Total Liabilities	$1.1B-1.8%	$1.1B-4.0%	$1.2B+1.5%	$1.2B-0.5%	$1.2B-7.2%	$1.2B-6.6%	$1.3B+3.8%	$1.3B
Current Liabilities	$554.3M-11.2%	$624.2M+15.7%	$539.5M+1.0%	$534.3M+0.2%	$533.1M-23.7%	$698.7M+0.1%	$698.1M+14.1%	$611.8M
Long-Term Debt	$384.5M+19.1%	$322.9M-25.5%	$433.4M+3.1%	$420.5M-4.2%	$438.8M+25.7%	$349.1M-17.5%	$423.4M-7.0%	$455.5M
Total Equity	$126.6M-1.6%	$128.6M+33.0%	$96.7M+11.1%	$87.0M-0.5%	$87.4M+75.2%	$49.9M-2.0%	$50.9M-35.7%	$79.1M
Retained Earnings	-$622.1M+0.2%	-$623.2M+1.2%	-$630.5M+1.0%	-$637.0M-0.6%	-$633.1M+0.3%	-$635.1M+0.3%	-$637.2M-4.5%	-$610.0M

Not reported in any period shown, so not listed: Accounts Receivable.

QUAD Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

QUAD quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$91.2M	$95.9M-15.1%	$112.9M-23.5%	$147.6M-4.5%	$154.6M+13.3%	$136.5M-28.2%	$190.2M+22.3%	$155.5M-40.3%	$260.6M-24.2%	$344.0M-2.7%	$353.6M+1.6%	$348.1M+18.7%	$293.2M-33.5%	$441.1M+24.5%	$354.2M-4.6%	$371.1M
Capital Expenditures	$47.2M	$45.2M-21.0%	$57.2M-19.2%	$70.8M+17.4%	$60.3M+20.6%	$50.0M-18.0%	$61.0M-45.0%	$111.0M+15.3%	$96.3M+12.1%	$85.9M-19.0%	$106.1M-20.2%	$133.0M-4.5%	$139.2M-6.9%	$149.5M+44.4%	$103.5M-38.5%	$168.3M
Free Cash Flow	$44.0M	$50.7M-9.0%	$55.7M-27.5%	$76.8M-18.6%	$94.3M+9.0%	$86.5M-33.0%	$129.2M+190.3%	$44.5M-72.9%	$164.3M-36.3%	$258.1M+4.3%	$247.5M+15.1%	$215.1M+39.7%	$154.0M-47.2%	$291.6M+16.3%	$250.7M+23.6%	$202.8M
Investing Cash Flow	-$28.6M	-$27.7M-318.1%	$12.7M+127.4%	-$46.4M+23.3%	-$60.5M-146.8%	$129.4M+1234.0%	$9.7M+104.7%	-$208.1M-72.7%	-$120.5M-155.3%	-$47.2M+46.8%	-$88.8M+59.0%	-$216.7M+3.3%	-$224.2M+47.9%	-$430.6M-514.3%	-$70.1M+62.0%	-$184.3M
Financing Cash Flow	-$64.1M	-$36.1M+75.8%	-$149.1M-102.6%	-$73.6M+70.4%	-$248.7M-76.5%	-$140.9M+37.0%	-$223.6M-461.8%	$61.8M+146.3%	-$133.5M+47.0%	-$251.7M+6.5%	-$269.3M-110.6%	-$127.9M-78.4%	-$71.7M-602.9%	-$10.2M+96.4%	-$285.6M-64.6%	-$173.5M
Dividends Paid	$16.4M	$14.4M+53.2%	$9.4M+9300.0%	$100K-92.9%	$1.4M0.0%	$1.4M-85.3%	$9.5M-83.4%	$57.1M-9.2%	$62.9M+0.6%	$62.5M+2.3%	$61.1M-1.9%	$62.3M+1.8%	$61.2M+8.5%	$56.4M-62.8%	$151.8M+438.3%	$28.2M
Share Buybacks	$5.8M	$8.0M	$0-100.0%	$12.6M+26.0%	$10.0M	$0	N/A	$0-100.0%	$36.7M+865.8%	$3.8M-56.8%	$8.8M	$0	$0	$0	$0-100.0%	$8.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$93.7M-164.2%	$145.9M+1836.9%	-$8.4M-117.7%	$47.4M+153.3%	-$89.0M-156.0%	$158.8M+6516.7%	$2.4M-38.5%	$3.9M
Capital Expenditures	$13.3M+52.9%	$8.7M-28.7%	$12.2M-6.2%	$13.0M+15.0%	$11.3M-1.7%	$11.5M-5.7%	$12.2M-21.8%	$15.6M
Free Cash Flow	-$107.0M-178.0%	$137.2M+766.0%	-$20.6M-159.9%	$34.4M+134.3%	-$100.3M-168.1%	$147.3M+1603.1%	-$9.8M+16.2%	-$11.7M
Investing Cash Flow	-$15.0M-196.2%	$15.6M+405.9%	-$5.1M+78.8%	-$24.1M-70.9%	-$14.1M-53.3%	-$9.2M-132.7%	$28.1M+189.7%	$9.7M
Financing Cash Flow	$52.4M+150.2%	-$104.3M-914.8%	$12.8M+151.2%	-$25.0M-131.1%	$80.4M+160.5%	-$132.8M-331.2%	-$30.8M-180.0%	-$11.0M
Dividends Paid	$5.5M+57.1%	$3.5M0.0%	$3.5M-10.3%	$3.9M+11.4%	$3.5M+45.8%	$2.4M+4.3%	$2.3M0.0%	$2.3M
Share Buybacks	$1.1M+450.0%	$200K0.0%	$200K-95.3%	$4.3M+30.3%	$3.3M	$0	$0	$0

QUAD Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

QUAD quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	21.6%-0.1pp	21.7%+2.2pp	19.5%+0.9pp	18.6%-0.7pp	19.3%-1.0pp	20.3%+1.7pp	18.6%-0.5pp	19.2%-2.6pp	21.8%+0.2pp	21.6%+1.7pp	19.9%-0.4pp	20.3%-0.4pp	20.7%-1.5pp	22.2%-1.4pp	23.6%
Operating Margin	4.0%+3.3pp	0.7%-0.1pp	0.9%-0.8pp	1.7%-1.5pp	3.1%+4.7pp	-1.6%-2.5pp	0.9%-1.3pp	2.2%-2.2pp	4.4%+1.7pp	2.7%+20.8pp	-18.1%-21.0pp	3.0%0.0pp	3.0%+0.4pp	2.6%-1.0pp	3.6%
Net Margin	1.1%+3.0pp	-1.9%0.0pp	-1.9%-2.2pp	0.3%-1.0pp	1.3%+5.7pp	-4.4%-0.4pp	-4.0%-4.2pp	0.2%-2.5pp	2.7%+1.7pp	1.0%+15.0pp	-14.0%-14.3pp	0.4%-0.3pp	0.7%-1.4pp	2.1%+3.2pp	-1.1%
Return on Equity	21.0%+123.0pp	-102.0%	N/A	5.4%-22.2pp	27.6%+180.2pp	-152.6%-83.6pp	-69.0%-70.9pp	1.9%-18.6pp	20.5%+10.3pp	10.2%+161.6pp	-151.4%-153.0pp	1.6%-0.9pp	2.5%-4.5pp	7.1%+10.7pp	-3.6%
Return on Assets	2.2%+6.1pp	-3.9%-0.2pp	-3.7%-4.2pp	0.5%-1.5pp	2.0%+8.7pp	-6.7%-0.2pp	-6.5%-6.8pp	0.3%-4.0pp	4.4%+2.6pp	1.8%+24.3pp	-22.5%-23.0pp	0.5%-0.3pp	0.8%-1.4pp	2.1%+3.1pp	-1.0%
Current Ratio	0.86+0.1x	0.760.0x	0.74-0.1x	0.890.0x	0.85-0.1x	0.99-0.1x	1.120.0x	1.11-0.1x	1.22+0.1x	1.17-0.1x	1.23-0.1x	1.31+0.1x	1.21-0.1x	1.320.0x	1.34
Debt-to-Equity	2.51-4.5x	7.00	N/A	2.93-1.1x	4.06-6.7x	10.73+6.1x	4.67+2.7x	1.99+0.3x	1.73-0.6x	2.31-0.6x	2.92+1.8x	1.13+0.1x	0.980.0x	0.980.0x	1.03
FCF Margin	2.1%0.0pp	2.1%-0.5pp	2.6%-0.3pp	2.9%0.0pp	2.9%-1.5pp	4.4%+3.3pp	1.1%-3.0pp	4.1%-2.4pp	6.5%+0.8pp	5.7%+1.0pp	4.7%+1.5pp	3.2%-2.9pp	6.1%0.0pp	6.1%+1.4pp	4.7%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	21.1%-0.5pp	21.6%-1.2pp	22.8%+1.1pp	21.6%+1.1pp	20.6%-1.9pp	22.4%+0.6pp	21.8%-0.3pp	22.1%
Operating Margin	3.0%-2.9pp	5.9%+1.4pp	4.5%+2.1pp	2.4%-0.7pp	3.1%+0.3pp	2.8%+3.5pp	-0.7%-3.1pp	2.4%
Net Margin	1.1%-0.7pp	1.8%0.0pp	1.7%+1.7pp	0.0%-0.9pp	0.9%+0.3pp	0.7%+4.3pp	-3.7%-3.2pp	-0.4%
Return on Equity	4.9%-3.7pp	8.6%-1.9pp	10.5%+10.7pp	-0.1%-6.8pp	6.6%-2.8pp	9.4%+58.0pp	-48.5%-45.0pp	-3.5%
Return on Assets	0.5%-0.4pp	0.9%+0.1pp	0.8%+0.8pp	0.0%-0.5pp	0.5%+0.1pp	0.4%+2.1pp	-1.8%-1.6pp	-0.2%
Current Ratio	0.94+0.1x	0.86-0.1x	0.98+0.1x	0.920.0x	0.96+0.2x	0.76-0.1x	0.850.0x	0.85
Debt-to-Equity	3.04+0.5x	2.51-2.0x	4.48-0.4x	4.83-0.2x	5.02-2.0x	7.00-1.3x	8.32+2.6x	5.76
FCF Margin	-18.4%-40.2pp	21.8%+25.3pp	-3.5%-9.5pp	6.0%+22.0pp	-15.9%-36.7pp	20.8%+22.2pp	-1.5%+0.4pp	-1.8%

Note: The current ratio is below 1.0 (0.86), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Where Quad / Graphics Inc Ranks

Frequently Asked Questions

What is Quad / Graphics Inc's annual revenue?

Quad / Graphics Inc (QUAD) reported $2.4B in total revenue for fiscal year 2025. This represents a -9.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Quad / Graphics Inc's revenue growing?

Quad / Graphics Inc (QUAD) revenue declined by 9.4% year-over-year, from $2.7B to $2.4B in fiscal year 2025.

Is Quad / Graphics Inc profitable?

Yes, Quad / Graphics Inc (QUAD) reported a net income of $27.0M in fiscal year 2025, with a net profit margin of 1.1%.

What is Quad / Graphics Inc's EBITDA?

Quad / Graphics Inc (QUAD) had EBITDA of $176.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Quad / Graphics Inc have?

As of fiscal year 2025, Quad / Graphics Inc (QUAD) had $63.3M in cash and equivalents against $322.9M in long-term debt.

What is Quad / Graphics Inc's gross margin?

Quad / Graphics Inc (QUAD) had a gross margin of 21.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Quad / Graphics Inc's operating margin?

Quad / Graphics Inc (QUAD) had an operating margin of 4.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Quad / Graphics Inc's net profit margin?

Quad / Graphics Inc (QUAD) had a net profit margin of 1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Quad / Graphics Inc pay dividends?

Yes, Quad / Graphics Inc (QUAD) paid $0.30 per share in dividends during fiscal year 2025.

What is Quad / Graphics Inc's return on equity (ROE)?

Quad / Graphics Inc (QUAD) has a return on equity of 21.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Quad / Graphics Inc's free cash flow?

Quad / Graphics Inc (QUAD) generated $50.7M in free cash flow during fiscal year 2025. This represents a -9.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Quad / Graphics Inc's operating cash flow?

Quad / Graphics Inc (QUAD) generated $95.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Quad / Graphics Inc's total assets?

Quad / Graphics Inc (QUAD) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Quad / Graphics Inc's capital expenditures?

Quad / Graphics Inc (QUAD) invested $45.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Quad / Graphics Inc spend on research and development?

Quad / Graphics Inc (QUAD) invested $2.9M in research and development during fiscal year 2025.

Does Quad / Graphics Inc buy back shares?

Yes, Quad / Graphics Inc (QUAD) spent $8.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

What is Quad / Graphics Inc's current ratio?

Quad / Graphics Inc (QUAD) had a current ratio of 0.86 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Quad / Graphics Inc's debt-to-equity ratio?

Quad / Graphics Inc (QUAD) had a debt-to-equity ratio of 2.51 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Quad / Graphics Inc's return on assets (ROA)?

Quad / Graphics Inc (QUAD) had a return on assets of 2.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Quad / Graphics Inc's Altman Z-Score?

Quad / Graphics Inc (QUAD) has an Altman Z-Score of 1.68, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Quad / Graphics Inc's Piotroski F-Score?

Quad / Graphics Inc (QUAD) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Quad / Graphics Inc's earnings high quality?

Quad / Graphics Inc (QUAD) has an earnings quality ratio of 3.55x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Quad / Graphics Inc cover its interest payments?

Quad / Graphics Inc (QUAD) has an interest coverage ratio of 1.92x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Quad / Graphics Inc?

Quad / Graphics Inc (QUAD) scores 34 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.