Quad/Graphics, Inc. (QUAD) Financial Statements
Industry: Commercial Printing
In fiscal 2025, Quad/Graphics reported revenue of $2.42B, down 9.4% from $2.67B the year before. Net income was $27.0M (a 1.1% net margin), or $0.54 per diluted share. Gross margin was 21.6% and operating margin was 4.0%. Operating activities generated $95.9M of cash, leaving $50.7M of free cash flow. At fiscal year end, Quad/Graphics held $1.25B in total assets against $1.12B in total liabilities, including $63.3M of cash and equivalents.
Open the full interactive Quad/Graphics financials → Quarterly statements, key ratios, valuation history and price charts.
Quad/Graphics Key Stats
| Share Price | $9.54 |
|---|---|
| Market Cap | $477.0M |
| P/E Ratio | 17.7 |
| Dividend Yield | 3.61% |
| Revenue YoY Growth | -9.4% |
| 52-Week Range | $4.99 – $10.74 |
| Shares Outstanding | 48.0 million (basic, 2026 Q2) |
Quad/Graphics Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $2.93B | $2.96B | $3.22B | $2.96B | $2.67B | $2.42B |
| Cost of Goods Sold | $2.33B | $2.39B | $2.62B | $2.38B | $2.09B | $1.90B |
| Gross Profit | $594.8M | $570.5M | $598.2M | $576.5M | $580.0M | $523.3M |
| Operating Income | -$46.0M | $92.8M | $53.5M | $25.7M | $19.2M | $97.0M |
| Pre-Tax Income | -$106.1M | $47.0M | $17.7M | -$42.6M | -$44.5M | $32.5M |
| Income Tax | $300,000 | $9.5M | $8.4M | $12.8M | $6.4M | $5.5M |
| Net Income | -$128.3M | $37.8M | $9.3M | -$55.4M | -$50.9M | $27.0M |
| Diluted EPS | -$2.54 | $0.71 | $0.18 | -$1.14 | -$1.07 | $0.54 |
Quad/Graphics Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $588.0M | $630.6M | $581.0M | $577.5M |
| Net Income | $10.2M | $11.1M | $6.2M | $3.7M |
| Diluted EPS | $0.21 | $0.22 | $0.13 | $0.07 |
Quad/Graphics Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $55.2M | $179.9M | $25.2M | $52.9M | $29.2M | $63.3M |
| Current Assets | $679.2M | $809.1M | $704.5M | $587.7M | $534.3M | $538.4M |
| Total Assets | $1.93B | $1.89B | $1.70B | $1.51B | $1.30B | $1.25B |
| Current Liabilities | $682.7M | $957.1M | $795.4M | $790.8M | $698.7M | $624.2M |
| Total Long-Term Debt | $923.4M | $800.5M | $567.8M | $514.2M | $377.1M | $369.9M |
| Total Liabilities | $1.84B | $1.75B | $1.53B | $1.39B | $1.25B | $1.12B |
| Shareholders' Equity | $84.1M | $136.8M | $172.9M | $119.5M | $49.9M | -$59.5M |
Quad/Graphics Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $190.2M | $136.5M | $154.6M | $147.6M | $112.9M | $95.9M |
| Cash From Investing | $9.7M | $129.4M | -$60.5M | -$46.4M | $12.7M | -$27.7M |
| Cash From Financing | -$223.6M | -$140.9M | -$248.7M | -$73.6M | -$149.1M | -$36.1M |
| Free Cash Flow | $129.2M | $86.5M | $94.3M | $76.8M | $55.7M | $50.7M |
| Dividends Paid | $9.5M | $1.4M | $1.4M | $100,000 | $9.4M | $14.4M |
Figures from Quad/Graphics' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Quad/Graphics financials page for every line item.
Quad/Graphics Company Profile
| Ticker | QUAD |
|---|---|
| Exchange | NYSE |
| Industry | Commercial Printing |
| Headquarters | Sussex, Wisconsin |
| Incorporated in | Wisconsin |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0001481792 |
Frequently Asked Questions
What was Quad/Graphics' revenue in fiscal 2025?
Quad/Graphics (QUAD) reported revenue of $2.42B for fiscal 2025.
What is Quad/Graphics' annual revenue history?
Quad/Graphics' annual revenue by fiscal year: 2020: $2.93B; 2021: $2.96B; 2022: $3.22B; 2023: $2.96B; 2024: $2.67B; 2025: $2.42B.
What was Quad/Graphics' net income in fiscal 2025?
Quad/Graphics reported net income of $27.0M for fiscal 2025.
What was Quad/Graphics' earnings per share (EPS) in fiscal 2025?
Quad/Graphics' diluted EPS was $0.54 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Quad/Graphics generate in fiscal 2025?
Quad/Graphics generated $50.7M of free cash flow in fiscal 2025.
What was Quad/Graphics' revenue last quarter?
In its most recent reported quarter (2026 Q2), Quad/Graphics reported revenue of $577.5M.
How much debt does Quad/Graphics have?
Quad/Graphics reported $369.9M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Quad/Graphics are outstanding?
Quad/Graphics reported a weighted average of 48.0 million basic shares outstanding in 2026 Q2.
What is Quad/Graphics' market cap?
Based on its latest closing price, Quad/Graphics (QUAD) has a market capitalization of about $477.0M.
When does Quad/Graphics' fiscal year end?
Quad/Graphics' fiscal year end, as registered with the SEC, is December 31.
Where is Quad/Graphics headquartered?
Quad/Graphics lists its business address in Sussex, Wisconsin in its SEC filings.