Quad/Graphics, Inc. (QUAD) Key Metrics
QUAD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $486.3M
- Enterprise value
- $937.8M
- P/E (TTM)
- 14.3 10-yr median 17.3
- Forward P/E
- 6.1
- PEG ratio
- 0.84
- Price / sales
- 0.2 10-yr median 0.1
- Price / book
- 3.8 10-yr median 2.2
- EV / EBITDA
- 6.0 10-yr median 5.4
- Dividend yield
- 3.14% $0.40 a year
- Beta
- 1.10
QUAD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsQUAD valuation Price multiples at each fiscal year-end price.
QUAD returns How much profit the business earns on the capital it uses.
QUAD per-share figures Results divided by the shares outstanding at year-end.
QUAD financial health Debt, liquidity and how easily interest is covered.
QUAD efficiency & capital use Working capital cycle and where the cash goes.
QUAD valuation history
QUAD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
QUAD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
QUAD cash returned to shareholders
QUAD price vs earnings per share
QUAD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $312.9M | $331.8M | $262.3M | $214.2M | $212.0M | $193.3M | $233.5M | $635.7M | $1.17B | $1.34B |
| Enterprise value | $693.6M | $767.2M | $834.7M | $902.7M | $963.7M | $1.15B | $1.41B | $1.51B | $2.07B | $2.47B |
| P/E ratio | 11.6 | — | — | 23.0 | 5.6 | — | — | 74.8 | 10.9 | 29.8 |
| Price / sales | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 | 0.3 |
| Price / book | 2.4 | 6.6 | 2.2 | 1.2 | 1.5 | 2.3 | 1.0 | 1.4 | 2.2 | 3.0 |
| Price / free cash flow | 6.2 | 6.0 | 3.4 | 2.3 | 2.5 | 1.5 | 5.2 | 3.9 | 4.5 | 5.4 |
| Price / operating cash flow | 3.3 | 2.9 | 1.8 | 1.4 | 1.6 | 1.0 | 1.5 | 2.4 | 3.4 | 3.8 |
| EV / sales | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | 0.5 | 0.6 |
| EV / EBITDA | 4.3 | 6.3 | 5.5 | 4.2 | 3.6 | 7.6 | 6.0 | 4.8 | 5.2 | 6.0 |
| EV / free cash flow | 13.7 | 13.8 | 10.9 | 9.6 | 11.1 | 8.9 | 31.6 | 9.2 | 8.0 | 10.0 |
| Earnings yield | 8.6% | −15.3% | −21.1% | 4.3% | 17.8% | −66.4% | −23.7% | 1.3% | 9.2% | 3.4% |
| Free cash flow yield | 16.2% | 16.8% | 29.3% | 44.0% | 40.8% | 66.8% | 19.1% | 25.8% | 22.0% | 18.4% |
| Dividend yield | 4.6% | 2.8% | 0.0% | 0.7% | 0.7% | 4.9% | 24.5% | 9.9% | 5.3% | 4.6% |
| Shareholder yield (dividends + buybacks) | 7.2% | 3.5% | 4.8% | 5.3% | 1.2% | 5.4% | 27.3% | 15.7% | 5.7% | 5.2% |
| Share price at fiscal year-end | $6.27 | $6.97 | $5.42 | $4.08 | $4.00 | $3.82 | $4.67 | $12.32 | $22.60 | $26.88 |
| Per share | ||||||||||
| Revenue per share | $48.49 | $56.14 | $61.11 | $61.28 | $55.86 | $57.90 | $78.47 | $81.27 | $79.76 | $86.94 |
| Earnings per share | $0.54 | −$1.07 | −$1.14 | $0.18 | $0.71 | −$2.54 | −$1.11 | $0.16 | $2.07 | $0.90 |
| Operating cash flow per share | $1.92 | $2.37 | $3.05 | $2.94 | $2.58 | $3.76 | $3.11 | $5.05 | $6.64 | $7.08 |
| Free cash flow per share | $1.02 | $1.17 | $1.59 | $1.80 | $1.63 | $2.55 | $0.89 | $3.18 | $4.98 | $4.95 |
| Cash per share | $1.27 | $0.61 | $1.09 | $0.48 | $3.39 | $1.09 | $1.57 | $1.35 | $1.24 | $0.18 |
| Book value per share | $2.58 | $1.05 | $2.47 | $3.29 | $2.58 | $1.66 | $4.53 | $8.58 | $10.08 | $8.87 |
| Tangible book value per share | $0.15 | −$1.21 | −$0.11 | $0.75 | −$0.47 | −$2.43 | −$0.27 | $5.34 | $9.25 | $7.67 |
| Dividends per share | $0.29 | $0.20 | $0.00 | $0.03 | $0.03 | $0.19 | $1.14 | $1.22 | $1.21 | $1.23 |
| Capex per share | $0.91 | $1.20 | $1.46 | $1.15 | $0.94 | $1.21 | $2.22 | $1.87 | $1.66 | $2.13 |
| Debt per share | $8.90 | $9.76 | $12.92 | $13.59 | $17.58 | $19.98 | $25.01 | $18.23 | $18.63 | $22.82 |
| Shares outstanding | 49.9M | 47.6M | 48.4M | 52.5M | 53.0M | 50.6M | 50.0M | 51.6M | 51.8M | 49.8M |
| Change in shares outstanding | +4.8% | −1.7% | −7.8% | −0.9% | +4.7% | +1.2% | −3.1% | −0.4% | +4.0% | +4.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 30.3% | −60.1% | −37.9% | 6.0% | 34.2% | −82.6% | −16.6% | 1.8% | 22.2% | 10.4% |
| Return on invested capital (ROIC) | 19.8% | 17.1% | 10.0% | 6.0% | 7.5% | 5.3% | 7.2% | 14.0% | 14.4% | 9.7% |
| Return on assets (ROA) | 2.1% | −3.6% | −3.5% | 0.5% | 2.0% | −5.9% | −2.3% | 0.3% | 4.3% | 1.7% |
| Return on tangible assets | 2.4% | −4.3% | −4.0% | 0.6% | 2.2% | −7.5% | −2.5% | 0.4% | 4.4% | 1.8% |
| Free cash flow margin | 2.1% | 2.1% | 2.6% | 2.9% | 2.9% | 4.4% | 1.1% | 3.9% | 6.2% | 5.7% |
| Income quality (OCF / net income) | 3.55 | — | — | 16.62 | 3.61 | — | — | 30.66 | 3.21 | 7.85 |
| Financial health | ||||||||||
| Total debt | $444.0M | $464.6M | $625.3M | $713.7M | $931.6M | $1.01B | $1.25B | $940.9M | $964.8M | $1.14B |
| Cash & short-term investments | $63.3M | $29.2M | $52.9M | $25.2M | $179.9M | $55.2M | $78.7M | $69.5M | $64.3M | $9.0M |
| Net debt | $380.7M | $435.4M | $572.4M | $688.5M | $751.7M | $955.9M | $1.17B | $871.4M | $900.5M | $1.13B |
| Debt / equity | 3.45 | 9.31 | 5.23 | 4.13 | 6.81 | 12.02 | 5.52 | 2.13 | 1.85 | 2.57 |
| Debt / assets | 0.35 | 0.36 | 0.41 | 0.42 | 0.49 | 0.52 | 0.52 | 0.38 | 0.39 | 0.44 |
| Net debt / EBITDA | 2.36 | 3.60 | 3.80 | 3.23 | 2.82 | 6.36 | 5.04 | 2.77 | 2.28 | 2.73 |
| Current ratio | 0.86 | 0.76 | 0.74 | 0.89 | 0.85 | 0.99 | 1.12 | 1.11 | 1.22 | 1.17 |
| Quick ratio | 0.63 | 0.53 | 0.52 | 0.56 | 0.61 | 0.75 | 0.86 | 0.76 | 0.89 | 0.82 |
| Interest coverage | 2.4 | 2.0 | 1.4 | 2.1 | 1.5 | 1.2 | 1.4 | 2.6 | 3.0 | 2.7 |
| Working capital | −$85.8M | −$164.4M | −$203.1M | −$90.9M | −$148.0M | −$3.5M | $97.5M | $95.3M | $162.6M | $128.0M |
| Invested capital | $509.3M | $485.3M | $691.9M | $861.4M | $888.5M | $1.04B | $1.40B | $1.31B | $1.42B | $1.57B |
| Tangible asset value | $7.3M | −$57.6M | −$5.3M | $39.6M | −$24.9M | −$122.5M | $4.1M | $293.0M | $479.0M | $381.8M |
| Net current asset value | −$585.9M | −$714.8M | −$802.5M | −$824.4M | −$944.1M | −$1.16B | −$1.26B | −$1.06B | −$1.02B | −$1.23B |
| Graham number | $5.60 | — | — | $3.62 | $6.44 | — | — | $5.64 | $21.67 | $13.41 |
| Graham net-net per share | −$15.39 | −$19.62 | −$20.88 | −$20.84 | −$22.43 | −$27.73 | −$32.94 | −$27.44 | −$25.64 | −$31.41 |
| Capital allocation | ||||||||||
| Dividends paid | $14.4M | $9.4M | $100,000 | $1.4M | $1.4M | $9.5M | $57.1M | $62.9M | $62.5M | $61.1M |
| Share buybacks (net) | $8.0M | $2.1M | $12.6M | $10.0M | $1.1M | $1.0M | $6.6M | $36.7M | $3.8M | $8.8M |
| Dividend payout ratio | 53.3% | — | — | 15.1% | 3.7% | — | — | 740.0% | 58.3% | 136.1% |
| Dividends + buybacks / free cash flow | 44.2% | 20.6% | 16.5% | 12.1% | 2.9% | 8.1% | 143.1% | 60.6% | 25.7% | 28.4% |
| Capex / revenue | 1.9% | 2.1% | 2.4% | 1.9% | 1.7% | 2.1% | 2.8% | 2.3% | 2.1% | 2.5% |
| Capex / operating cash flow | 47.1% | 50.7% | 48.0% | 39.0% | 36.6% | 32.1% | 71.4% | 37.0% | 25.0% | 30.1% |
| Capex / depreciation | 0.58 | 0.56 | 0.55 | 0.43 | 0.32 | 0.34 | 0.50 | 0.45 | 0.37 | 0.38 |
| Stock-based compensation / revenue | 0.3% | 0.3% | 0.2% | 0.2% | 0.2% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% |
| R&D / revenue | — | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% |
| SG&A / revenue | 13.5% | 13.4% | 12.1% | 11.1% | 10.5% | 11.4% | 10.1% | 8.9% | 10.0% | 10.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 42.8 | 40.3 | 42.5 | 41.7 | 46.9 | 53.3 | 44.4 | 45.7 | 49.3 | 51.1 |
| Days of inventory on hand | 28.3 | 28.4 | 32.0 | 32.2 | 28.4 | 27.6 | 27.4 | 29.1 | 26.8 | 27.2 |
| Days payables outstanding | 64.6 | 60.8 | 60.4 | 54.5 | 49.3 | 53.5 | 49.0 | 46.7 | 36.9 | 34.0 |
| Cash conversion cycle (days) | 6.5 | 7.9 | 14.1 | 19.4 | 26.1 | 27.4 | 22.8 | 28.1 | 39.2 | 44.3 |
| Receivables turnover | 8.52 | 9.07 | 8.59 | 8.76 | 7.78 | 6.85 | 8.23 | 7.99 | 7.40 | 7.14 |
| Payables turnover | 5.65 | 6.00 | 6.04 | 6.69 | 7.40 | 6.82 | 7.44 | 7.82 | 9.88 | 10.74 |
| Inventory turnover | 12.91 | 12.85 | 11.41 | 11.32 | 12.84 | 13.20 | 13.30 | 12.55 | 13.61 | 13.43 |
| Asset turnover | 1.90 | 1.90 | 1.84 | 1.79 | 1.55 | 1.35 | 1.61 | 1.70 | 1.65 | 1.60 |
| Average receivables | $284.0M | $294.7M | $344.4M | $367.3M | $380.6M | $427.6M | $476.9M | $525.0M | $558.0M | $606.1M |
| Average payables | $349.4M | $365.1M | $415.1M | $411.9M | $343.6M | $368.4M | $456.5M | $438.9M | $352.6M | $341.1M |
| Average inventory | $152.9M | $170.6M | $219.8M | $243.4M | $198.2M | $190.3M | $255.6M | $273.6M | $255.9M | $272.8M |
| Intangibles / total assets | 9.7% | 8.3% | 8.3% | 7.8% | 8.6% | 10.8% | 9.9% | 6.8% | 1.8% | 2.3% |
Computed from QUAD's annual financial statements (latest annual report filed February 18, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
QUAD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Quad/Graphics traded at 11.6 times earnings, against a 10-year median of 17.3. Based on the latest twelve months, the trailing P/E is 14.3 and the forward P/E is 6.1. Quad/Graphics earned a return on equity of 30.3% and a return on invested capital of 19.8% in fiscal 2025. It ended the year with $444.0 million of debt and $63.3 million in cash and short-term investments, net debt of $380.7 million. It returned $22.4 million to shareholders: $14.4 million in dividends and $8.0 million in share buybacks, 44% of free cash flow.
See the QUAD income statement, the QUAD chart for price history, or the QUAD stock overview for the latest quote and news.
QUAD key metrics FAQ
What is Quad/Graphics's P/E ratio?
Quad/Graphics's trailing P/E ratio is 14.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 6.1. At the end of fiscal 2025 it was 11.6, compared with a 10-year median of 17.3.
What is Quad/Graphics's EV/EBITDA?
Quad/Graphics's enterprise value was 4.3 times EBITDA at the end of fiscal 2025 (enterprise value $693.6 million, EBITDA $161.6 million); the current EV/EBITDA is 6.0.
What is Quad/Graphics's return on equity?
Quad/Graphics's return on equity (ROE) was 30.3% in fiscal 2025: net income of $27.0 million on average shareholders' equity of $89.2 million.
What is Quad/Graphics's ROIC?
Quad/Graphics's return on invested capital was 19.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Quad/Graphics have?
Quad/Graphics had total debt of $444.0 million at the end of fiscal 2025, a debt-to-equity ratio of 3.45 and $380.7 million of net debt (2.36 times EBITDA).
What is Quad/Graphics's dividend yield?
Quad/Graphics's forward dividend yield is 3.14%. Quad/Graphics paid $14.4 million in dividends in fiscal 2025 ($0.29 per share), a payout ratio of 53.3%.
Does Quad/Graphics buy back its shares?
Yes. Quad/Graphics spent $8.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +4.8% over the year, to 49.9M..
What is Quad/Graphics's free cash flow yield?
Quad/Graphics generated $50.7 million of free cash flow in fiscal 2025, a free cash flow yield of 16.2% on its market value at year-end ($312.9 million).
What is Quad/Graphics's current ratio?
Quad/Graphics's current ratio was 0.86 at the end of fiscal 2025: current assets were 0.86 times current liabilities.