Quad/Graphics, Inc.
QUAD · Commercial Printing · 47.6M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Grade
C63Commercial printer transforming to marketing services; generates free cash flow but faces secular print decline and a stretched balance sheet.
Strengths
- Positive free cash flow ($50.7M) and mid-pack operating margin (56th pct)
- Diversifying into integrated marketing services and co-mail scale (Enru acquisition)
Risks
- Secular print decline, low gross margin (21st pct), thin interest coverage (1.9x) and weak liquidity (current ratio 0.86, 22nd pct)
- Negative book equity and USPS rate/service changes pressuring mail volumes
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Negative equityNegative book equity (debt/equity -5.43)
- Weak liquidityCurrent ratio 0.86 (<1)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
21.6%
Operating margin
4.0%
Net margin
1.1%
Return on equity
-45.4%
Return on assets
2.2%
ROIC
29.1%
Revenue growth (QoQ)
-7.9%
Debt / equity
-5.4×
Interest coverage
1.9×
Current ratio
0.9×
Free cash flow
$51M
Tangible book value
-$181M
Cash & investments
$63M
Stock comp / revenue
0.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-27 | Flores Kathryn Quadracci | Disposition | 9.7K | $7.40 |
| 2026-05-26 | Flores Kathryn Quadracci | Disposition | 18K | $7.25 |
| 2026-05-20 | Eason Beth-Ann | Grant | 19K | — |
| 2026-05-20 | Buth Douglas P | Grant | 19K | — |
| 2026-05-20 | Fowler John C | Grant | 19K | — |
| 2026-05-20 | Fuller Stephen M. | Grant | 19K | — |
| 2026-05-20 | Harned Christopher B | Grant | 19K | — |
| 2026-05-20 | Rothman Jay O. | Grant | 19K | — |
| 2026-05-20 | Huet Melanie Arlene | Grant | 19K | — |
| 2026-05-20 | Flores Kathryn Quadracci | Grant | 19K | — |
| 2026-05-01 | Flores Kathryn Quadracci | Disposition | 7.7K | $8.30 |
| 2026-05-01 | Eason Beth-Ann | Disposition | 31K | $8.28 |
| 2026-03-06 | Flores Kathryn Quadracci | Disposition | 11K | $6.65 |
| 2026-03-02 | Jaeger Steven D | Disposition | 8.2K | $6.84 |
| 2026-03-01 | Quadracci Robert H | Tax withheld | 4.9K | $6.91 |
| 2026-03-01 | Quadracci J Joel | Tax withheld | 177K | $6.91 |
| 2026-03-01 | Honan David J | Tax withheld | 74K | $6.91 |
| 2026-03-01 | Honan David J | Grant | 39K | — |
| 2026-03-01 | Quadracci Robert H | Tax withheld | 2.9K | $6.91 |
| 2026-03-01 | Gruen Dana B. | Tax withheld | 11K | $6.91 |
| 2026-03-01 | Gruen Dana B. | Tax withheld | 8.7K | $6.91 |
| 2026-03-01 | Flores Kathryn Quadracci | Tax withheld | 7.2K | $6.91 |
| 2026-03-01 | Currie Julie A | Tax withheld | 13K | $6.91 |
| 2026-03-01 | Vanderboom Kelly A | Tax withheld | 25K | $6.91 |
| 2026-03-01 | Staniak Anthony | Tax withheld | 21K | $6.91 |
| 2026-03-01 | McKenna Donald M | Tax withheld | 20K | $6.91 |
| 2026-03-01 | Jaeger Steven D | Tax withheld | 10K | $6.91 |
| 2026-03-01 | BAUER ANNE M | Tax withheld | 5.5K | $6.91 |
| 2026-02-23 | Buth Douglas P | Disposition | 20K | $7.02 |
| 2026-02-20 | McKenna Donald M | Disposition | 7.9K | $7.03 |
| 2026-02-20 | Flores Kathryn Quadracci | Disposition | 12K | $6.74 |
| 2026-02-01 | McKenna Donald M | Grant | 17K | — |
| 2026-01-01 | Currie Julie A | Grant | 43K | — |
| 2026-01-01 | Golden Joshua J | Grant | 43K | — |
| 2026-01-01 | McKenna Donald M | Grant | 43K | — |
| 2026-01-01 | Honan David J | Grant | 149K | — |
| 2026-01-01 | Gruen Dana B. | Grant | 77K | — |
| 2026-01-01 | Maleeny Timothy Vincent | Grant | 51K | — |
| 2026-01-01 | Quadracci J Joel | Grant | 426K | — |
| 2026-01-01 | BAUER ANNE M | Grant | 12K | — |
| 2026-01-01 | Jaeger Steven D | Grant | 26K | — |
| 2026-01-01 | Quadracci Robert H | Grant | 47K | — |
| 2026-01-01 | Vanderboom Kelly A | Grant | 77K | — |
| 2026-01-01 | Staniak Anthony | Grant | 115K | — |
| 2026-01-01 | Flores Kathryn Quadracci | Grant | 11K | — |
| 2025-11-20 | Golden Joshua J | Disposition | 18K | $5.32 |
| 2025-05-28 | Flores Kathryn Quadracci | Disposition | 38K | $5.83 |
| 2025-05-21 | Buth Douglas P | Grant | 22K | — |
| 2025-05-21 | Eason Beth-Ann | Grant | 22K | — |
| 2025-05-21 | Fowler John C | Grant | 22K | — |
| 2025-05-21 | Fuller Stephen M. | Grant | 22K | — |
| 2025-05-21 | Harned Christopher B | Grant | 22K | — |
| 2025-05-21 | Rothman Jay O. | Grant | 22K | — |
| 2025-05-21 | Huet Melanie Arlene | Grant | 22K | — |
| 2025-05-21 | Flores Kathryn Quadracci | Grant | 22K | — |
| 2025-05-16 | Flores Kathryn Quadracci | Disposition | 10K | $5.83 |
| 2025-03-06 | Jaeger Steven D | Disposition | 8.4K | $5.77 |
| 2025-03-01 | Flores Kathryn Quadracci | Tax withheld | 7.2K | $6.28 |
| 2025-03-01 | Quadracci J Joel | Tax withheld | 174K | $6.28 |
| 2025-03-01 | Honan David J | Tax withheld | 73K | $6.28 |
| 2025-03-01 | Vanderboom Kelly A | Tax withheld | 24K | $6.28 |
| 2025-03-01 | ASHWORTH ERIC N | Tax withheld | 19K | $6.28 |
| 2025-03-01 | Staniak Anthony | Tax withheld | 14K | $6.28 |
| 2025-03-01 | Currie Julie A | Tax withheld | 13K | $6.28 |
| 2025-03-01 | Golden Joshua J | Tax withheld | 23K | $6.28 |
| 2025-03-01 | Jaeger Steven D | Tax withheld | 9.8K | $6.28 |
| 2025-03-01 | BAUER ANNE M | Tax withheld | 5.3K | $6.28 |
| 2025-03-01 | McKenna Donald M | Tax withheld | 11K | $6.28 |
| 2025-03-01 | Gruen Dana B. | Tax withheld | 10K | $6.28 |
| 2025-03-01 | Quadracci Robert H | Tax withheld | 3.0K | $6.28 |
| 2025-02-21 | SHIELY JOHN S | Disposition | 60K | $6.11 |
| 2025-02-12 | Quadracci J Joel | Grant | 8.2K | — |
| 2025-01-01 | Quadracci J Joel | Grant | 197K | — |
| 2025-01-01 | Gruen Dana B. | Grant | 29K | — |
| 2025-01-01 | Honan David J | Grant | 72K | — |
| 2025-01-01 | Vanderboom Kelly A | Grant | 29K | — |
| 2025-01-01 | ASHWORTH ERIC N | Grant | 25K | — |
| 2025-01-01 | Quadracci Robert H | Grant | 22K | — |
| 2025-01-01 | Currie Julie A | Grant | 21K | — |
| 2025-01-01 | Golden Joshua J | Grant | 21K | — |
| 2025-01-01 | McKenna Donald M | Grant | 21K | — |
| 2025-01-01 | Jaeger Steven D | Grant | 12K | — |
| 2025-01-01 | BAUER ANNE M | Grant | 5.5K | — |
| 2025-01-01 | Flores Kathryn Quadracci | Grant | 8.2K | — |
| 2025-01-01 | Staniak Anthony | Grant | 55K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-22 | Shareholder vote | filing ↗ |
| 2026-04-28 | ResultsExhibits | filing ↗ |
| 2026-02-17 | ResultsExhibits | filing ↗ |
| 2026-02-17 | Exec/director changeExhibits | filing ↗ |
| 2025-10-28 | ResultsExhibits | filing ↗ |
| 2025-07-29 | ResultsExhibits | filing ↗ |
| 2025-05-23 | 5.03Shareholder voteExhibits | filing ↗ |
| 2025-04-29 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-22 | 2026-05-20 | 0001481792-26-000123 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001481792-26-000092 ↗ |
| 8-K | 2026-04-28 | 2026-04-28 | 0001481792-26-000088 ↗ |
| 10-K | 2026-02-18 | 2025-12-31 | 0001481792-26-000042 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0001481792-26-000039 ↗ |
| 8-K | 2026-02-17 | 2026-02-12 | 0001481792-26-000038 ↗ |
| 10-Q | 2025-10-29 | 2025-09-30 | 0001481792-25-000045 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001628280-25-046803 ↗ |
| 10-Q | 2025-07-30 | 2025-06-30 | 0001481792-25-000039 ↗ |
| 8-K | 2025-07-29 | 2025-07-29 | 0001481792-25-000034 ↗ |
| 8-K | 2025-05-23 | 2025-05-21 | 0001481792-25-000030 ↗ |
| 10-Q | 2025-04-30 | 2025-03-31 | 0001481792-25-000025 ↗ |