Quad/Graphics, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.4B | $2.7B | $3.0B | $3.2B | $3.0B |
| Cost of revenue | $1.9B | $2.1B | $2.4B | $2.6B | $2.4B |
| Selling, general & administrative | $325.9M | $356.8M | $344.5M | $358.6M | $326.0M |
| Research and development | $2.9M | $3.2M | $3.1M | $3.3M | $3.1M |
| Operating income | $97.0M | $19.2M | $25.7M | $53.5M | $92.8M |
| Interest expense | $50.5M | $64.5M | $70.0M | $48.4M | $59.6M |
| Pretax income | $32.5M | -$44.5M | -$42.6M | $17.7M | $47.0M |
| Income tax expense | $5.5M | $6.4M | $12.8M | $8.4M | $9.5M |
| Net income | $27.0M | -$50.9M | -$55.4M | $9.3M | $37.8M |
| Balance Sheet | |||||
| Cash and equivalents | $63.3M | $29.2M | $52.9M | $25.2M | $179.9M |
| Current assets | $538.4M | $534.3M | $587.7M | $704.5M | $809.1M |
| Total assets | $1.3B | $1.3B | $1.5B | $1.7B | $1.9B |
| Current liabilities | $624.2M | $698.7M | $790.8M | $795.4M | $957.1M |
| Total liabilities | $1.1B | $1.2B | $1.4B | $1.5B | $1.8B |
| Stockholders' equity | -$59.5M | -$131.2M | -$117.6M | $172.9M | $136.8M |
| Cash Flow Statement | |||||
| Cash from operations | $95.9M | $112.9M | $147.6M | $154.6M | $136.5M |
| Depreciation and amortization | $73.4M | $85.0M | $100.9M | $110.4M | $125.8M |
| Stock-based compensation | $6.6M | $7.3M | $5.6M | $6.0M | $6.2M |
| Capital expenditure | $45.2M | $57.2M | $70.8M | $60.3M | $50.0M |
| Free cash flow | $50.7M | $55.7M | $76.8M | $94.3M | $86.5M |
| Dividends paid | $14.4M | $9.4M | $100,000 | $1.4M | $1.4M |
| Share repurchases | $8.0M | $0 | $12.6M | $10.0M | $0 |
| Impairments | $7.5M | $74.9M | $25.2M | $2.2M | $34.9M |
Shares outstanding 51.6M · Free float 54.1%
Annual filing data through FY ended December 31, 2025; float as of July 13, 2026.