Quad/Graphics (QUAD) Financials

$5.17 +0.02 (+0.31%)

Closing price 03:59 PM Eastern

Extended Trading

$5.16 -0.01 (-0.21%)

As of 04:14 PM Eastern

Annual Income Statements for Quad/Graphics

This table shows Quad/Graphics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	9.30	-55	-51
Consolidated Net Income / (Loss)	9.30	-55	-51
Net Income / (Loss) Continuing Operations	9.30	-55	-51
Total Pre-Tax Income	18	-43	-45
Total Operating Income	54	26	19
Total Gross Profit	598	577	580
Total Revenue	3,217	2,958	2,672
Operating Revenue	3,217	2,958	2,672
Total Cost of Revenue	2,619	2,381	2,092
Operating Cost of Revenue	2,619	2,381	2,092
Total Operating Expenses	545	551	561
Selling, General & Admin Expense	359	345	357
Depreciation Expense	141	129	103
Restructuring Charge	45	78	102
Total Other Income / (Expense), net	-36	-68	-64
Interest Expense	48	70	65
Other Income / (Expense), net	13	1.70	0.80
Income Tax Expense	8.40	13	6.40
Basic Earnings per Share	$0.18	($1.14)	($1.07)
Weighted Average Basic Shares Outstanding	50.70M	48.40M	47.60M
Diluted Earnings per Share	$0.18	($1.14)	($1.07)
Weighted Average Diluted Shares Outstanding	52.50M	48.40M	47.60M
Weighted Average Basic & Diluted Shares Outstanding	53.42M	52.28M	52.35M
Cash Dividends to Common per Share	-	$0.00	$0.20

This table shows Quad/Graphics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	14	-8.70	-25	-6.10	-2.70	-22	-28	-2.80	-25	4.70
Consolidated Net Income / (Loss)	14	-8.70	-25	-6.10	-2.70	-22	-28	-2.80	-25	4.70
Net Income / (Loss) Continuing Operations	14	-8.70	-25	-6.10	-2.70	-22	-28	-2.80	-25	4.70
Total Pre-Tax Income	16	-4.30	-16	-8.20	-3.50	-15	-26	-1.90	-22	4.80
Total Operating Income	25	8.70	0.10	8.40	14	3.50	-11	15	-4.90	20
Total Gross Profit	156	178	149	133	139	155	134	140	147	159
Total Revenue	830	885	767	703	700	788	655	634	675	708
Operating Revenue	830	885	767	703	700	788	655	634	675	708
Total Cost of Revenue	674	708	618	570	561	633	521	494	528	549
Operating Cost of Revenue	674	708	618	570	561	633	521	494	528	549
Total Operating Expenses	131	169	149	125	126	151	144	125	152	139
Selling, General & Admin Expense	91	102	89	83	83	90	83	89	88	97
Depreciation Expense	35	35	34	32	32	31	29	26	24	23
Restructuring Charge	5.60	32	26	9.60	11	31	33	10	39	20
Total Other Income / (Expense), net	-8.90	-13	-16	-17	-17	-19	-15	-17	-17	-15
Interest Expense	12	16	16	17	18	19	15	17	17	15
Other Income / (Expense), net	3.20	-	0.40	0.40	0.50	0.40	0.20	0.20	0.20	0.20
Income Tax Expense	2.60	4.40	8.80	-2.10	-0.80	6.90	2.40	0.90	3.00	0.10
Basic Earnings per Share	$0.27	($0.17)	($0.50)	($0.12)	($0.06)	($0.46)	($0.60)	($0.06)	($0.52)	$0.11
Weighted Average Basic Shares Outstanding	50.10M	50.70M	49.20M	49.30M	48M	48.40M	47.20M	47.70M	47.80M	47.60M
Diluted Earnings per Share	$0.27	($0.17)	($0.50)	($0.12)	($0.06)	($0.46)	($0.60)	($0.06)	($0.52)	$0.11
Weighted Average Diluted Shares Outstanding	51.60M	52.50M	49.20M	49.30M	48M	48.40M	47.20M	47.70M	47.80M	47.60M
Weighted Average Basic & Diluted Shares Outstanding	52.69M	53.42M	52.71M	51.51M	51.31M	52.28M	51.94M	52.16M	52.12M	52.35M

This table details how cash moves in and out of Quad/Graphics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Net Change in Cash & Equivalents	-155	28	-24
Net Cash From Operating Activities	155	148	113
Net Cash From Continuing Operating Activities	155	148	113
Net Income / (Loss) Continuing Operations	9.30	-55	-51
Consolidated Net Income / (Loss)	9.30	-55	-51
Depreciation Expense	141	129	103
Amortization Expense	2.20	2.00	1.60
Non-Cash Adjustments To Reconcile Net Income	29	20	56
Changes in Operating Assets and Liabilities, net	-27	52	4.10
Net Cash From Investing Activities	-61	-46	13
Net Cash From Continuing Investing Activities	-61	-46	13
Purchase of Property, Plant & Equipment	-60	-71	-57
Acquisitions	-2.60	-1.50	0.00
Purchase of Investments	0.00	-0.60	0.00
Sale of Property, Plant & Equipment	4.60	32	49
Sale and/or Maturity of Investments	-	0.00	22
Other Investing Activities, net	-2.20	-5.20	-1.40
Net Cash From Financing Activities	-249	-74	-149
Net Cash From Continuing Financing Activities	-249	-74	-149
Repayment of Debt	-1,232	-1,495	-1,646
Repurchase of Common Equity	-10	-13	0.00
Payment of Dividends	-1.40	-0.10	-9.40
Issuance of Debt	999	1,439	1,511
Other Financing Activities, net	-4.60	-4.30	-4.80
Effect of Exchange Rate Changes	-0.10	0.10	-0.20

This table details how cash moves in and out of Quad/Graphics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	2.20	11	-17	2.60	-0.30	42	-43	2.60	-0.30	17
Net Cash From Operating Activities	-6.80	185	-51	51	41	107	-52	3.90	2.40	159
Net Cash From Continuing Operating Activities	-6.80	185	-51	51	41	107	-52	3.90	2.40	159
Net Income / (Loss) Continuing Operations	14	-8.70	-25	-6.10	-2.70	-22	-28	-2.80	-25	4.70
Consolidated Net Income / (Loss)	14	-8.70	-25	-6.10	-2.70	-22	-28	-2.80	-25	4.70
Depreciation Expense	35	35	34	32	32	31	29	26	24	23
Amortization Expense	0.50	0.50	0.50	0.50	0.50	0.50	0.30	0.50	0.40	0.40
Non-Cash Adjustments To Reconcile Net Income	1.10	25	10	3.20	6.30	-	14	-0.90	33	10
Changes in Operating Assets and Liabilities, net	-57	133	-71	21	4.70	97	-67	-19	-31	121
Net Cash From Investing Activities	-15	-14	-26	-16	-15	11	-16	9.70	28	-9.20
Net Cash From Continuing Investing Activities	-15	-14	-26	-16	-15	11	-16	9.70	28	-9.20
Purchase of Property, Plant & Equipment	-16	-11	-29	-17	-14	-11	-18	-16	-12	-12
Sale of Property, Plant & Equipment	0.80	0.60	7.10	0.40	0.40	24	1.70	3.10	42	2.60
Other Investing Activities, net	-0.20	-1.10	-4.80	-0.20	-0.20	-	0.30	-	-1.40	-0.30
Net Cash From Financing Activities	25	-160	60	-32	-26	-76	26	-11	-31	-133
Net Cash From Continuing Financing Activities	25	-160	60	-32	-26	-76	26	-11	-31	-133
Repayment of Debt	-293	-487	-351	-385	-385	-374	-490	-316	-365	-475
Payment of Dividends	-	-	-0.10	-	-	-	-2.40	-2.30	-2.30	-2.40
Issuance of Debt	327	327	414	358	365	302	521	308	337	345
Other Financing Activities, net	-0.30	-0.30	-2.00	-0.70	-0.80	-0.80	-2.90	-0.80	-0.50	-0.60
Effect of Exchange Rate Changes	-0.20	0.30	0.20	-	-0.20	0.10	-0.10	-	-	-0.10

This table presents Quad/Graphics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Total Assets	1,702	1,510	1,299
Total Current Assets	705	588	534
Cash & Equivalents	25	53	29
Accounts Receivable	373	316	273
Inventories, net	261	179	162
Prepaid Expenses	46	40	70
Plant, Property, & Equipment, net	672	621	500
Total Noncurrent Assets	325	301	265
Goodwill	86	103	100
Intangible Assets	47	22	7.20
Other Noncurrent Operating Assets	192	177	158
Total Liabilities & Shareholders' Equity	1,702	1,510	1,299
Total Liabilities	1,529	1,390	1,249
Total Current Liabilities	795	791	699
Short-Term Debt	61	152	28
Accounts Payable	457	374	357
Accrued Expenses	249	238	289
Other Current Liabilities	29	28	25
Total Noncurrent Liabilities	734	599	550
Long-Term Debt	507	363	349
Capital Lease Obligations	1.60	6.00	1.30
Noncurrent Deferred & Payable Income Tax Liabilities	9.30	5.10	3.20
Other Noncurrent Operating Liabilities	216	226	197
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	173	120	50
Total Preferred & Common Equity	173	120	50
Preferred Stock	0.00	0.00	0.00
Total Common Equity	173	120	50
Common Stock	843	844	844
Retained Earnings	-519	-574	-635
Treasury Stock	-24	-33	-28
Accumulated Other Comprehensive Income / (Loss)	-128	-118	-131

This table presents Quad/Graphics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	1,794	1,627	1,537	1,569	1,424	1,368	1,389
Total Current Assets	779	642	575	635	550	519	592
Cash & Equivalents	14	8.70	11	11	10	13	13
Accounts Receivable	399	349	318	348	303	294	306
Inventories, net	323	239	201	234	181	175	202
Prepaid Expenses	42	46	45	42	56	37	72
Plant, Property, & Equipment, net	682	669	663	648	602	587	513
Total Noncurrent Assets	333	316	300	286	272	263	284
Goodwill	86	86	86	86	100	100	100
Intangible Assets	54	40	34	28	18	14	11
Other Noncurrent Operating Assets	193	189	179	172	154	148	173
Total Liabilities & Shareholders' Equity	1,794	1,627	1,537	1,569	1,424	1,368	1,389
Total Liabilities	1,656	1,472	1,384	1,426	1,335	1,289	1,338
Total Current Liabilities	767	760	715	785	631	612	698
Short-Term Debt	53	152	154	154	72	82	77
Accounts Payable	447	406	359	412	360	333	337
Accrued Expenses	238	174	173	192	174	170	260
Other Current Liabilities	30	28	29	27	26	26	24
Total Noncurrent Liabilities	889	712	669	641	703	677	640
Long-Term Debt	675	479	452	432	474	456	423
Capital Lease Obligations	1.10	6.90	6.80	6.30	6.00	5.40	1.40
Noncurrent Deferred & Payable Income Tax Liabilities	16	22	7.80	6.20	5.90	5.10	4.00
Other Noncurrent Operating Liabilities	198	204	202	197	217	211	211
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	138	155	154	143	89	79	51
Total Preferred & Common Equity	138	155	154	143	89	79	51
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	138	155	154	143	89	79	51
Common Stock	842	840	841	843	839	841	843
Retained Earnings	-510	-543	-549	-552	-605	-610	-637
Treasury Stock	-23	-21	-25	-30	-29	-28	-28
Accumulated Other Comprehensive Income / (Loss)	-171	-121	-114	-117	-117	-124	-127

This table displays calculated financial ratios and metrics derived from Quad/Graphics' official financial filings.

Metric	2022	2023	2024
Growth Metrics	-	-	-
Revenue Growth	8.67%	-8.06%	-9.65%
EBITDA Growth	-21.67%	-24.52%	-21.56%
EBIT Growth	-38.40%	-58.55%	-27.01%
NOPAT Growth	-62.04%	-36.00%	-25.29%
Net Income Growth	-75.40%	-695.70%	8.12%
EPS Growth	-74.65%	-733.33%	6.14%
Operating Cash Flow Growth	13.26%	-4.53%	-23.51%
Free Cash Flow Firm Growth	-73.92%	112.42%	35.64%
Invested Capital Growth	-5.50%	-18.17%	-31.99%
Revenue Q/Q Growth	0.96%	-3.18%	-2.89%
EBITDA Q/Q Growth	11.73%	-4.30%	6.80%
EBIT Q/Q Growth	62.81%	-11.33%	400.00%
NOPAT Q/Q Growth	227.98%	-16.83%	540.00%
Net Income Q/Q Growth	400.00%	-31.59%	34.41%
EPS Q/Q Growth	400.00%	-34.12%	34.76%
Operating Cash Flow Q/Q Growth	83.83%	-34.69%	86.30%
Free Cash Flow Firm Q/Q Growth	8.01%	-0.76%	8.14%
Invested Capital Q/Q Growth	-15.84%	-18.98%	-26.15%
Profitability Metrics	-	-	-
Gross Margin	18.60%	19.49%	21.71%
EBITDA Margin	6.52%	5.35%	4.64%
Operating Margin	1.66%	0.87%	0.72%
EBIT Margin	2.05%	0.93%	0.75%
Profit (Net Income) Margin	0.29%	-1.87%	-1.90%
Tax Burden Percent	52.54%	130.05%	114.38%
Interest Burden Percent	26.78%	-155.47%	-222.50%
Effective Tax Rate	47.46%	0.00%	0.00%
Return on Invested Capital (ROIC)	3.81%	2.76%	2.73%
ROIC Less NNEP Spread (ROIC-NNEP)	0.58%	-11.75%	-13.03%
Return on Net Nonoperating Assets (RNNOA)	2.20%	-40.65%	-62.82%
Return on Equity (ROE)	6.01%	-37.89%	-60.09%
Cash Return on Invested Capital (CROIC)	9.46%	22.75%	40.80%
Operating Return on Assets (OROA)	3.68%	1.71%	1.42%
Return on Assets (ROA)	0.52%	-3.45%	-3.62%
Return on Common Equity (ROCE)	6.01%	-37.89%	-60.09%
Return on Equity Simple (ROE_SIMPLE)	5.38%	-46.36%	-102.00%
Net Operating Profit after Tax (NOPAT)	28	18	13
NOPAT Margin	0.87%	0.61%	0.50%
Net Nonoperating Expense Percent (NNEP)	3.23%	14.51%	15.76%
Return On Investment Capital (ROIC_SIMPLE)	-	2.81%	3.14%
Cost of Revenue to Revenue	81.41%	80.51%	78.30%
SG&A Expenses to Revenue	11.15%	11.65%	13.35%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.93%	18.62%	20.99%
Earnings before Interest and Taxes (EBIT)	66	27	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	210	158	124
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.19	2.22	7.28
Price to Tangible Book Value (P/TBV)	5.21	0.00	0.00
Price to Revenue (P/Rev)	0.06	0.09	0.14
Price to Earnings (P/E)	22.20	0.00	0.00
Dividend Yield	0.00%	0.00%	3.59%
Earnings Yield	4.50%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.05	1.25	1.79
Enterprise Value to Revenue (EV/Rev)	0.23	0.25	0.27
Enterprise Value to EBITDA (EV/EBITDA)	3.58	4.63	5.74
Enterprise Value to EBIT (EV/EBIT)	11.36	26.74	35.62
Enterprise Value to NOPAT (EV/NOPAT)	26.71	40.72	53.01
Enterprise Value to Operating Cash Flow (EV/OCF)	4.86	4.96	6.31
Enterprise Value to Free Cash Flow (EV/FCFF)	10.75	4.94	3.54
Leverage & Solvency	-	-	-
Debt to Equity	3.29	4.35	7.58
Long-Term Debt to Equity	2.94	3.08	7.02
Financial Leverage	3.77	3.46	4.82
Leverage Ratio	11.60	10.98	16.58
Compound Leverage Factor	3.11	-17.08	-36.89
Debt to Total Capital	76.71%	81.32%	88.35%
Short-Term Debt to Total Capital	8.23%	23.71%	6.54%
Long-Term Debt to Total Capital	68.48%	57.61%	81.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	23.29%	18.68%	11.65%
Debt to EBITDA	2.72	3.29	3.05
Net Debt to EBITDA	2.60	2.95	2.81
Long-Term Debt to EBITDA	2.43	2.33	2.82
Debt to NOPAT	20.26	28.92	28.15
Net Debt to NOPAT	19.36	25.98	25.98
Long-Term Debt to NOPAT	18.08	20.48	26.07
Altman Z-Score	1.61	1.44	1.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	0.89	0.74	0.76
Quick Ratio	0.50	0.47	0.43
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	70	148	201
Operating Cash Flow to CapEx	277.56%	377.49%	1,393.83%
Free Cash Flow to Firm to Interest Expense	1.44	2.12	3.12
Operating Cash Flow to Interest Expense	3.19	2.11	1.75
Operating Cash Flow Less CapEx to Interest Expense	2.04	1.55	1.62
Efficiency Ratios	-	-	-
Asset Turnover	1.79	1.84	1.90
Accounts Receivable Turnover	8.76	8.59	9.07
Inventory Turnover	10.76	10.84	12.26
Fixed Asset Turnover	4.60	4.58	4.77
Accounts Payable Turnover	6.36	5.74	5.73
Days Sales Outstanding (DSO)	41.67	42.50	40.25
Days Inventory Outstanding (DIO)	33.93	33.68	29.76
Days Payable Outstanding (DPO)	57.42	63.63	63.70
Cash Conversion Cycle (CCC)	18.19	12.56	6.31
Capital & Investment Metrics	-	-	-
Invested Capital	717	587	399
Invested Capital Turnover	4.36	4.54	5.42
Increase / (Decrease) in Invested Capital	-42	-130	-188
Enterprise Value (EV)	751	733	712
Market Capitalization	206	265	363
Book Value per Share	$3.28	$2.33	$0.96
Tangible Book Value per Share	$0.75	($0.10)	($1.11)
Total Capital	742	640	428
Total Debt	569	520	378
Total Long-Term Debt	508	369	350
Net Debt	544	467	349
Capital Expenditures (CapEx)	56	39	8.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-55	-104	-166
Debt-free Net Working Capital (DFNWC)	-30	-51	-136
Net Working Capital (NWC)	-91	-203	-164
Net Nonoperating Expense (NNE)	19	73	64
Net Nonoperating Obligations (NNO)	544	467	349
Total Depreciation and Amortization (D&A)	144	131	104
Debt-free, Cash-free Net Working Capital to Revenue	-1.71%	-3.53%	-6.20%
Debt-free Net Working Capital to Revenue	-0.93%	-1.74%	-5.10%
Net Working Capital to Revenue	-2.83%	-6.87%	-6.15%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.18	($1.14)	($1.07)
Adjusted Weighted Average Basic Shares Outstanding	50.70M	48.40M	47.60M
Adjusted Diluted Earnings per Share	$0.18	($1.14)	($1.07)
Adjusted Weighted Average Diluted Shares Outstanding	52.50M	48.40M	47.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.42M	52.28M	52.35M
Normalized Net Operating Profit after Tax (NOPAT)	52	72	84
Normalized NOPAT Margin	1.61%	2.44%	3.16%
Pre Tax Income Margin	0.55%	-1.44%	-1.67%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	1.37	0.39	0.31
NOPAT to Interest Expense	0.58	0.26	0.21
EBIT Less CapEx to Interest Expense	0.21	-0.17	0.18
NOPAT Less CapEx to Interest Expense	-0.57	-0.30	0.08
Payout Ratios	-	-	-
Dividend Payout Ratio	15.05%	-0.18%	-18.47%
Augmented Payout Ratio	122.58%	-22.92%	-18.47%

This table displays calculated financial ratios and metrics derived from Quad/Graphics' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	17.53%	3.58%	3.00%	-7.21%	-15.63%	-10.99%	-14.57%	-9.80%	-3.63%	-10.09%
EBITDA Growth	-10.28%	15.53%	-18.54%	-22.22%	-26.69%	-19.13%	-46.97%	2.18%	-56.96%	22.25%
EBIT Growth	-9.55%	1,342.86%	-90.74%	-49.13%	-50.00%	-55.17%	-2,200.00%	73.86%	-133.10%	410.26%
NOPAT Growth	-12.02%	307.14%	-98.15%	-50.00%	-54.72%	-59.77%	-10,800.00%	79.76%	-135.77%	687.33%
Net Income Growth	-4.20%	58.77%	-2,360.00%	-215.09%	-119.71%	-152.87%	-14.23%	54.10%	-814.81%	121.36%
EPS Growth	0.00%	58.54%	-2,400.00%	-220.00%	-122.22%	-170.59%	-20.00%	50.00%	-766.67%	123.91%
Operating Cash Flow Growth	89.82%	61.63%	-199.41%	871.21%	700.00%	-42.40%	-3.16%	-92.34%	-94.12%	49.11%
Free Cash Flow Firm Growth	-36.10%	-74.93%	-84.72%	3.89%	27.47%	177.78%	820.67%	114.46%	31.36%	55.92%
Invested Capital Growth	-9.23%	-5.50%	-1.98%	-8.13%	-15.00%	-18.17%	-19.59%	-19.26%	-25.39%	-31.99%
Revenue Q/Q Growth	9.53%	6.66%	-13.41%	-8.27%	-0.41%	12.53%	-16.89%	-3.15%	6.40%	4.98%
EBITDA Q/Q Growth	19.96%	-31.08%	-20.96%	19.02%	13.08%	-23.98%	-47.58%	129.35%	-52.37%	115.92%
EBIT Q/Q Growth	64.16%	-69.37%	-94.25%	1,660.00%	61.36%	-72.54%	-400.00%	245.71%	-130.72%	523.40%
NOPAT Q/Q Growth	80.11%	-71.25%	-98.85%	8,300.00%	63.10%	-74.45%	-405.71%	241.12%	-132.45%	662.38%
Net Income Q/Q Growth	158.49%	-163.50%	-182.76%	75.20%	55.74%	-714.81%	-27.73%	90.04%	-782.14%	119.03%
EPS Q/Q Growth	170.00%	-162.96%	-194.12%	76.00%	50.00%	-666.67%	-30.43%	90.00%	-766.67%	121.15%
Operating Cash Flow Q/Q Growth	-3.03%	2,819.12%	-127.37%	200.59%	-19.84%	161.03%	-149.01%	107.47%	-38.46%	6,516.67%
Free Cash Flow Firm Q/Q Growth	54.06%	-55.66%	-66.79%	357.97%	89.03%	-3.38%	10.06%	6.68%	15.78%	14.69%
Invested Capital Q/Q Growth	3.74%	-15.84%	9.33%	-3.75%	-4.02%	-18.98%	7.43%	-3.35%	-11.31%	-26.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	18.85%	20.06%	19.44%	18.96%	19.91%	19.65%	20.39%	22.12%	21.81%	22.44%
EBITDA Margin	7.68%	4.96%	4.53%	5.87%	6.67%	4.51%	2.81%	6.65%	2.98%	6.13%
Operating Margin	3.04%	0.98%	0.01%	1.19%	1.96%	0.44%	-1.63%	2.38%	-0.73%	2.78%
EBIT Margin	3.42%	0.98%	0.07%	1.25%	2.03%	0.50%	-1.60%	2.41%	-0.70%	2.81%
Profit (Net Income) Margin	1.65%	-0.98%	-3.21%	-0.87%	-0.39%	-2.79%	-4.29%	-0.44%	-3.66%	0.66%
Tax Burden Percent	84.05%	202.33%	155.70%	74.39%	77.14%	145.70%	109.34%	147.37%	113.82%	97.92%
Interest Burden Percent	57.39%	-49.43%	-3,160.00%	-93.18%	-24.65%	-387.18%	244.76%	-12.42%	461.70%	24.12%
Effective Tax Rate	15.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.08%
Return on Invested Capital (ROIC)	9.08%	3.00%	0.04%	3.38%	5.31%	1.41%	-4.60%	6.79%	-2.21%	14.76%
ROIC Less NNEP Spread (ROIC-NNEP)	8.09%	0.46%	-3.78%	1.51%	3.41%	-3.42%	-8.12%	4.42%	-6.19%	11.19%
Return on Net Nonoperating Assets (RNNOA)	43.21%	1.74%	-16.74%	6.66%	15.72%	-11.84%	-39.03%	21.50%	-34.08%	53.92%
Return on Equity (ROE)	52.30%	4.74%	-16.71%	10.04%	21.03%	-10.43%	-43.63%	28.29%	-36.29%	68.68%
Cash Return on Invested Capital (CROIC)	7.22%	9.46%	-31.48%	12.24%	18.96%	22.75%	23.19%	23.52%	29.41%	40.80%
Operating Return on Assets (OROA)	6.00%	1.76%	0.12%	2.44%	3.68%	0.91%	-2.99%	4.61%	-1.30%	5.35%
Return on Assets (ROA)	2.89%	-1.76%	-6.00%	-1.69%	-0.70%	-5.14%	-8.01%	-0.84%	-6.81%	1.26%
Return on Common Equity (ROCE)	52.30%	4.74%	-16.71%	10.04%	21.03%	-10.43%	-43.63%	28.29%	-36.29%	68.68%
Return on Equity Simple (ROE_SIMPLE)	-2.25%	0.00%	-9.26%	-16.73%	-29.36%	0.00%	-66.03%	-70.29%	-152.46%	0.00%
Net Operating Profit after Tax (NOPAT)	21	6.09	0.07	5.88	9.59	2.45	-7.49	11	-3.43	19
NOPAT Margin	2.55%	0.69%	0.01%	0.84%	1.37%	0.31%	-1.14%	1.67%	-0.51%	2.72%
Net Nonoperating Expense Percent (NNEP)	0.99%	2.54%	3.82%	1.87%	1.90%	4.83%	3.52%	2.36%	3.97%	3.57%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	0.38%	-	-	-	4.50%
Cost of Revenue to Revenue	81.15%	79.94%	80.56%	81.04%	80.09%	80.35%	79.61%	77.88%	78.19%	77.56%
SG&A Expenses to Revenue	10.94%	11.50%	11.64%	11.85%	11.78%	11.36%	12.69%	13.99%	13.10%	13.64%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.81%	19.08%	19.43%	17.76%	17.95%	19.20%	22.02%	19.74%	22.54%	19.66%
Earnings before Interest and Taxes (EBIT)	28	8.70	0.50	8.80	14	3.90	-11	15	-4.70	20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	64	44	35	41	47	36	18	42	20	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.97	1.19	1.43	1.24	1.74	2.22	2.99	3.54	4.65	7.28
Price to Tangible Book Value (P/TBV)	0.00	5.21	7.89	5.75	8.55	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.04	0.06	0.07	0.06	0.08	0.09	0.09	0.10	0.09	0.14
Price to Earnings (P/E)	0.00	22.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.92%	2.78%	4.41%	3.59%
Earnings Yield	0.00%	4.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.99	1.05	1.08	1.05	1.15	1.25	1.28	1.33	1.34	1.79
Enterprise Value to Revenue (EV/Rev)	0.27	0.23	0.26	0.25	0.27	0.25	0.28	0.29	0.26	0.27
Enterprise Value to EBITDA (EV/EBITDA)	4.52	3.58	4.50	4.41	5.02	4.63	5.69	5.67	6.25	5.74
Enterprise Value to EBIT (EV/EBIT)	20.88	11.36	17.63	18.66	26.85	26.74	49.26	35.38	181.58	35.62
Enterprise Value to NOPAT (EV/NOPAT)	0.00	26.71	0.00	26.66	38.36	40.72	77.46	53.58	345.86	53.01
Enterprise Value to Operating Cash Flow (EV/OCF)	10.08	4.86	7.03	4.44	3.67	4.96	5.53	8.18	11.99	6.31
Enterprise Value to Free Cash Flow (EV/FCFF)	13.11	10.75	0.00	8.20	5.55	4.94	4.93	5.05	3.90	3.54
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	5.29	3.29	4.13	3.99	4.13	4.35	6.18	6.86	9.86	7.58
Long-Term Debt to Equity	4.91	2.94	3.14	2.98	3.05	3.08	5.38	5.83	8.35	7.02
Financial Leverage	5.34	3.77	4.43	4.40	4.61	3.46	4.80	4.86	5.51	4.82
Leverage Ratio	12.87	11.60	11.87	11.17	11.96	10.98	12.52	12.48	15.22	16.58
Compound Leverage Factor	7.39	-5.73	-375.25	-10.41	-2.95	-42.52	30.64	-1.55	70.29	4.00
Debt to Total Capital	84.10%	76.71%	80.51%	79.95%	80.50%	81.32%	86.08%	87.29%	90.79%	88.35%
Short-Term Debt to Total Capital	6.08%	8.23%	19.23%	20.09%	20.94%	23.71%	11.16%	13.20%	13.96%	6.54%
Long-Term Debt to Total Capital	78.02%	68.48%	61.28%	59.85%	59.55%	57.61%	74.91%	74.09%	76.83%	81.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	15.90%	23.29%	19.49%	20.05%	19.50%	18.68%	13.92%	12.72%	9.21%	11.65%
Debt to EBITDA	3.88	2.72	3.38	3.41	3.58	3.29	3.89	3.80	4.32	3.05
Net Debt to EBITDA	3.81	2.60	3.34	3.35	3.51	2.95	3.81	3.71	4.21	2.81
Long-Term Debt to EBITDA	3.60	2.43	2.57	2.55	2.65	2.33	3.38	3.23	3.66	2.82
Debt to NOPAT	-33.16	20.26	-2.41	20.63	27.36	28.92	52.87	35.91	239.05	28.15
Net Debt to NOPAT	-32.53	19.36	-2.37	20.25	26.86	25.98	51.89	35.07	233.10	25.98
Long-Term Debt to NOPAT	-30.76	18.08	-1.83	15.44	20.25	20.48	46.01	30.48	202.29	26.07
Altman Z-Score	1.49	1.50	1.53	1.56	1.47	1.39	1.43	1.49	1.34	1.45
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.02	0.89	0.84	0.80	0.81	0.74	0.87	0.85	0.85	0.76
Quick Ratio	0.54	0.50	0.47	0.46	0.46	0.47	0.50	0.50	0.46	0.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	108	48	16	73	137	133	146	156	180	207
Operating Cash Flow to CapEx	-44.74%	1,812.75%	-234.26%	316.15%	293.53%	0.00%	-322.22%	31.20%	0.00%	1,784.27%
Free Cash Flow to Firm to Interest Expense	8.91	2.97	0.97	4.28	7.76	6.99	9.61	9.06	10.62	13.71
Operating Cash Flow to Interest Expense	-0.56	11.48	-3.10	2.99	2.31	5.61	-3.43	0.23	0.14	10.52
Operating Cash Flow Less CapEx to Interest Expense	-1.82	10.85	-4.43	2.05	1.52	6.26	-4.50	-0.50	1.88	9.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.75	1.79	1.87	1.95	1.82	1.84	1.87	1.91	1.86	1.90
Accounts Receivable Turnover	8.05	8.76	9.39	9.61	8.18	8.59	8.74	9.07	8.42	9.07
Inventory Turnover	9.26	10.76	10.72	10.72	8.81	10.84	10.88	11.78	9.98	12.26
Fixed Asset Turnover	4.46	4.60	4.68	4.69	4.59	4.58	4.48	4.45	4.74	4.77
Accounts Payable Turnover	6.63	6.36	6.52	6.95	5.72	5.74	5.97	6.38	5.81	5.73
Days Sales Outstanding (DSO)	45.34	41.67	38.89	37.99	44.65	42.50	41.76	40.26	43.36	40.25
Days Inventory Outstanding (DIO)	39.40	33.93	34.06	34.04	41.44	33.68	33.54	30.99	36.58	29.76
Days Payable Outstanding (DPO)	55.02	57.42	55.94	52.52	63.79	63.63	61.15	57.21	62.78	63.70
Cash Conversion Cycle (CCC)	29.72	18.19	17.01	19.51	22.29	12.56	14.15	14.04	17.16	6.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	852	717	784	755	724	587	630	609	540	399
Invested Capital Turnover	3.56	4.36	4.09	4.04	3.88	4.54	4.02	4.07	4.35	5.42
Increase / (Decrease) in Invested Capital	-87	-42	-16	-67	-128	-130	-154	-145	-184	-188
Enterprise Value (EV)	848	751	850	791	830	733	808	810	726	712
Market Capitalization	133	206	220	190	249	265	267	280	237	363
Book Value per Share	$2.54	$3.28	$2.89	$2.91	$2.78	$2.33	$1.89	$1.52	$0.98	$0.96
Tangible Book Value per Share	($0.05)	$0.75	$0.52	$0.63	$0.56	($0.10)	($0.61)	($0.68)	($1.15)	($1.11)
Total Capital	866	742	793	766	735	640	641	622	553	428
Total Debt	728	569	638	612	592	520	551	543	502	378
Total Long-Term Debt	676	508	486	458	438	369	480	461	425	350
Net Debt	714	544	630	601	581	467	541	530	490	349
Capital Expenditures (CapEx)	15	10	22	16	14	-13	16	13	-30	8.90
Debt-free, Cash-free Net Working Capital (DFCFNWC)	51	-55	25	2.20	-6.90	-104	-20	-24	-42	-166
Debt-free Net Working Capital (DFNWC)	65	-30	34	14	4.10	-51	-10	-11	-29	-136
Net Working Capital (NWC)	12	-91	-118	-140	-150	-203	-82	-93	-106	-164
Net Nonoperating Expense (NNE)	7.48	15	25	12	12	24	21	13	21	15
Net Nonoperating Obligations (NNO)	714	544	630	601	581	467	541	530	490	349
Total Depreciation and Amortization (D&A)	35	35	34	33	33	32	29	27	25	24
Debt-free, Cash-free Net Working Capital to Revenue	1.60%	-1.71%	0.78%	0.07%	-0.23%	-3.53%	-0.71%	-0.86%	-1.51%	-6.20%
Debt-free Net Working Capital to Revenue	2.04%	-0.93%	1.05%	0.42%	0.13%	-1.74%	-0.35%	-0.40%	-1.05%	-5.10%
Net Working Capital to Revenue	0.38%	-2.83%	-3.65%	-4.41%	-4.91%	-6.87%	-2.86%	-3.35%	-3.86%	-6.15%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.27	($0.17)	($0.50)	($0.12)	($0.06)	($0.46)	($0.60)	($0.06)	($0.52)	$0.11
Adjusted Weighted Average Basic Shares Outstanding	50.10M	50.70M	49.20M	49.30M	48M	48.40M	47.20M	47.70M	47.80M	47.60M
Adjusted Diluted Earnings per Share	$0.27	($0.17)	($0.50)	($0.12)	($0.06)	($0.46)	($0.60)	($0.06)	($0.52)	$0.11
Adjusted Weighted Average Diluted Shares Outstanding	51.60M	52.50M	49.20M	49.30M	48M	48.40M	47.20M	47.70M	47.80M	47.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	52.69M	53.42M	52.71M	51.51M	51.31M	52.28M	51.94M	52.16M	52.12M	52.35M
Normalized Net Operating Profit after Tax (NOPAT)	26	29	18	13	17	24	15	18	24	38
Normalized NOPAT Margin	3.12%	3.25%	2.38%	1.79%	2.49%	3.04%	2.33%	2.78%	3.57%	5.43%
Pre Tax Income Margin	1.96%	-0.49%	-2.06%	-1.17%	-0.50%	-1.92%	-3.92%	-0.30%	-3.22%	0.68%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.35	0.54	0.03	0.52	0.80	0.21	-0.69	0.89	-0.28	1.32
NOPAT to Interest Expense	1.75	0.38	0.00	0.35	0.54	0.13	-0.49	0.61	-0.20	1.28
EBIT Less CapEx to Interest Expense	1.09	-0.09	-1.29	-0.43	0.02	0.86	-1.76	0.16	1.46	0.73
NOPAT Less CapEx to Interest Expense	0.49	-0.26	-1.32	-0.60	-0.24	0.79	-1.56	-0.11	1.53	0.69
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.13%	15.05%	-0.70%	-0.39%	-0.24%	-0.18%	-4.07%	-8.45%	-9.02%	-18.47%
Augmented Payout Ratio	-306.45%	122.58%	-72.73%	-55.25%	-24.47%	-22.92%	-24.96%	-22.12%	-12.11%	-18.47%

Frequently Asked Questions About Quad/Graphics' Financials

When does Quad/Graphics's fiscal year end?

According to the most recent income statement we have on file, Quad/Graphics' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Quad/Graphics' net income changed over the last 2 years?

Quad/Graphics' net income appears to be on an upward trend, with a most recent value of -$50.90 million in 2024, falling from $9.30 million in 2022. The previous period was -$55.40 million in 2023.

What is Quad/Graphics's operating income?

Quad/Graphics's total operating income in 2024 was $19.20 million, based on the following breakdown:

Total Gross Profit: $580 million
Total Operating Expenses: $560.80 million

How has Quad/Graphics revenue changed over the last 2 years?

Over the last 2 years, Quad/Graphics' total revenue changed from $3.22 billion in 2022 to $2.67 billion in 2024, a change of -16.9%.

How much debt does Quad/Graphics have?

Quad/Graphics' total liabilities were at $1.25 billion at the end of 2024, a 10.1% decrease from 2023, and a 18.3% decrease since 2022.

How much cash does Quad/Graphics have?

In the past 2 years, Quad/Graphics' cash and equivalents has ranged from $25.20 million in 2022 to $52.90 million in 2023, and is currently $29.20 million as of their latest financial filing in 2024.

How has Quad/Graphics' book value per share changed over the last 2 years?

Over the last 2 years, Quad/Graphics' book value per share changed from 3.28 in 2022 to 0.96 in 2024, a change of -70.8%.

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This page (NYSE:QUAD) was last updated on 4/15/2025 by MarketBeat.com Staff

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Quad/Graphics (QUAD) Financials

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Quad/Graphics (QUAD) Financials

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