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Quad/Graphics QUAD
$ 10.24 1.39%
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Quarterly report 2025-Q3
added 07-29-2026

Quad/Graphics Income Statement 2025-2008 | QUAD

Brief overview of profit and loss at Quad/Graphics

This overview is based on financial performance over the past five years. Quad/Graphics reported revenue of 2.9 billion dollars in 2020 and 2.4 billion dollars by 2025. Overall revenue changed by −17.4%, equal to an annualized rate of about −3.8%. The business finished the period with a smaller revenue base.

At the gross-profit level, the result moved from 595 million dollars to 523 million dollars, a change of −12%. Cost of revenue moved broadly in line with sales. Gross profit as a share of revenue changed from 20.3% to 21.6%. There was no meaningful shift in gross profitability.

Over the period, EBITDA shifted from 260 million dollars to 170 million dollars, a change of −34.4%. EBITDA lagged revenue, showing weaker operating momentum. EBITDA margin moved from 8.9% to 7%. EBITDA as a share of revenue remained steady.

The final result was −128 million dollars initially and 27 million dollars in the final year. The trajectory reversed from a loss to positive earnings.

The five-year change in capitalization reached +33.8%: from $234 million to $313 million. Market value lagged the financial performance.

Overall conclusion

The financial profile remains mixed, with strengths and risks moving in different directions. Key strengths include net-income growth and a stronger gross margin. The most visible risks are limited revenue growth and pressure on operating profitability. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.

Annual Income Statement Quad/Graphics

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

Market Cap

313 M 313 M 162 M 209 M 205 M 234 M 219 M 681 M 1.13 B 1.25 B 483 M 952 M 1.09 B 1 B 555 M - - -

Shares

47.6 M 47.6 M 48.4 M 50.7 M 51.3 M 50 M 50 M 49.8 M 49.6 M 47.9 M 47.9 M 47.5 M 47 M 46.8 M 47.1 M 37.5 M 28.3 M -

Historical Prices

6.58 6.58 3.35 4.12 4 3.82 4.36 10.4 18.2 20.5 6.54 15.2 17 12.1 7.97 - - -

Net Income

27 M -50.9 M -55.4 M 9.3 M 37.8 M -128 M -156 M 8.5 M 107 M 44.9 M -642 M 18.6 M 32.5 M 87.4 M -46.9 M -250 M 52.8 M -

Revenue

2.42 B 2.67 B 2.96 B 3.22 B 2.96 B 2.93 B 3.92 B 4.19 B 4.13 B 4.33 B 4.68 B 4.86 B 4.8 B 4.09 B 4.32 B - - -

Cost of Revenue

1.9 B 2.09 B 2.38 B 2.62 B 2.39 B 2.33 B 3.19 B 3.22 B 3.09 B 3.39 B 3.68 B 3.81 B 3.8 B 3.18 B 3.3 B 2.41 B 1.27 B -

Gross Profit

- - - - - 595 M 731 M 764 M 872 M 935 M 917 M 970 M 994 M 910 M 1.02 B - - -

Operating Income

97 M 19.2 M 25.7 M 53.5 M 92.8 M -46 M 34.7 M 87.3 M 173 M 117 M -830 M 141 M 142 M 106 M 157 M 61.6 M 112 M -

Interest Expense

50.5 M 64.5 M 70 M 48.4 M 59.6 M 68.8 M 90 M 73.2 M 70.9 M 77.2 M 88.4 M 92.9 M 85.5 M 84 M 108 M 92.9 M 64.1 M -

EBITDA

170 M 104 M 127 M 164 M 219 M 260 M 334 M 392 M 459 M 480 M 468 M 545 M 578 M 563 M 616 M 295 M 307 M -

Operating Expenses

- - - - - 517 M 607 M 603 M 646 M 732 M 774 M 762 M 756 M 686 M 752 M - - -

General and Administrative Expenses

326 M 357 M 344 M 359 M 326 M 335 M 398 M 372 M 413 M 455 M 448 M 426 M 416 M 347 M 407 M 303 M 194 M -

All numbers in USD currency

Quarterly Income Statement Quad/Graphics

2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q3 2024-Q2 2024-Q1 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

47.7 M 47.5 M 47.6 M 48 M 47.8 M 47.7 M 47.2 M 48 M 49.3 M 49.2 M - 50.1 M 52.1 M 51.5 M - 51.3 M 51.3 M 51.4 M - 50.7 M 50.7 M 50.5 M - 50.1 M 50.1 M 49.6 M - 49.3 M 50.8 M 50.1 M - 49.5 M 49.5 M 49.1 M - 47.8 M 47.4 M 47.6 M - 48 M 47.9 M 47.7 M - 47.5 M 47.5 M 47.4 M - 47 M 46.9 M 46.8 M - 46.8 M 46.8 M 46.8 M - 47.1 M 47.3 M 47.2 M

Net Income

6.2 M 10.2 M -100 K 5.8 M -24.7 M -2.8 M -28.1 M -2.7 M -6.1 M -24.6 M - 13.7 M 5.3 M -1 M - 14.3 M 34.4 M 10.2 M - 1.6 M -23.5 M -12.4 M - -126 M -14.8 M -22.5 M - 23.4 M 9.4 M -3.5 M - 19.8 M 6.7 M 25.4 M - 11.3 M -7.7 M 3.8 M - -552 M -45.1 M -35.2 M - 24.4 M -22.8 M -8.8 M - 13 M -27.2 M -14 M - 39.8 M -20.8 M 47.4 M - -22.4 M -10.3 M -7.3 M

Revenue

581 M 588 M 572 M 629 M 675 M 634 M 655 M 700 M 703 M 766 M - 830 M 758 M 744 M - 706 M 694 M 706 M - 679 M 584 M 822 M - 944 M 949 M 1 B - 1.03 B 1.02 B 968 M - 4.13 B 963 M 999 M - 1.06 B 1.03 B 1.04 B - 1.14 B 1.06 B 1.09 B - 1.24 B 1.1 B 1.1 B - 1.21 B 1.11 B 1.13 B - 1.04 B 934 M 990 M - 1.11 B 977 M 1.02 B

Cost of Revenue

458 M 454 M 448 M 500 M 528 M 494 M 521 M 561 M 570 M 618 M - 674 M 618 M 620 M - 574 M 554 M 560 M - 543 M 461 M 648 M - 764 M 772 M 788 M - 777 M 827 M 792 M - 3.26 B 765 M 781 M - 825 M 821 M 804 M - 910 M 858 M 875 M - 977 M 893 M 893 M - 950 M 894 M 910 M - 798 M 741 M 773 M - 840 M 757 M 784 M

Operating Income

17.7 M 26.4 M 13.7 M 19.6 M -4.9 M 15.1 M -10.7 M 13.7 M 8.4 M 100 K - 25.2 M 14.2 M 5.4 M - 28 M 48 M 21 M - 6.3 M -2.8 M 5 M - -29.4 M 18.7 M 16.4 M - 47 M 20.9 M 7.1 M - 155 M 30.1 M 51 M - 33.8 M 13.3 M 13 M - -772 M -25.8 M -11.8 M - 53.6 M 500 K 11 M - 44.4 M -5.2 M -900 K - 59.1 M -9.6 M 1.9 M - 56.1 M 10.9 M 24.8 M

Interest Expense

10 M 12.8 M 13.2 M 12.4 M 17 M 17.2 M 15.2 M 17.7 M 17 M 16.3 M - 12.1 M 10.9 M 9.3 M - 15 M 15.6 M 14.5 M - 17.9 M 16.2 M 18.1 M - 22 M 25.8 M 21.8 M - 18.3 M 18.4 M 17.3 M - 71.1 M 17.6 M 18.2 M - 19.6 M 18.6 M 20.7 M - 22.3 M 21.6 M 22.5 M - 25.1 M 23.5 M 20.9 M - 20.9 M 21.3 M 21.9 M - 21.7 M 20.7 M 21.4 M - 25.4 M 29.3 M 29.8 M

EBITDA

36.1 M 86.1 M - 39.3 M 74.5 M - 17.9 M - - 33.8 M - 132 M 14.2 M 41.9 M - 147 M 79.2 M 53.8 M - 41.5 M 34 M 42.5 M - 11.9 M 60.3 M 59 M - 91 M 71 M 57.5 M - 209 M 84 M 105 M - 90.8 M 69.6 M 71 M - -712 M 37.1 M 50.4 M - 118 M 66.6 M 75.9 M - 109 M 64.9 M 70.6 M - 126 M 58.7 M 69.7 M - 124 M 77.9 M 96 M

General and Administrative Expenses

78.4 M 80.9 M 80.2 M 83.5 M 88.4 M 88.7 M 83.1 M 82.5 M 83.3 M 89.2 M - 90.8 M 86.9 M 79.1 M - 68.7 M 80.1 M 80.5 M - 75.1 M 63.3 M 99.6 M - 99.6 M 96.4 M 94.5 M - 89.2 M 99.2 M 86.9 M - 424 M 104 M 98.6 M - 110 M 113 M 119 M - 106 M 110 M 110 M - 107 M 100 M 104 M - 102 M 105 M 106 M - 87.3 M 80.6 M 92 M - 96 M 105 M 97.9 M

All numbers in USD currency

The income statement is one of the three key financial reports of a company Quad/Graphics (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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