Quad/Graphics Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	2,498	2,672	2,958	3,217	2,960	2,930
Revenue Growth (YoY)	-9.23%	-9.65%	-8.06%	8.67%	1.05%	-25.33%
Cost of Revenue	1,952	2,092	2,381	2,619	2,390	2,335
Gross Profit	546.1	580	576.5	598.2	570.5	594.8
Selling, General & Admin	342.1	356	342.8	346	324.9	324.6
Operating Expenses	424.9	458.5	471.6	487.3	482.2	506.2
Operating Income	121.2	121.5	104.9	110.9	88.3	88.6
Interest Expense	-53.5	-64.5	-70	-48.4	-59.6	-68.8
Earnings From Equity Investments	-	-	-	-	0.3	-0.2
EBT Excluding Unusual Items	67.7	57	34.9	62.5	29	19.6
Merger & Restructuring Charges	-42.7	-101.5	-77.5	-44.8	-18.3	-124.1
Gain (Loss) on Sale of Assets	-	-	-	-	24.5	-
Asset Writedown	-	-	-	-	-0.6	-
Other Unusual Items	-	-	-	-	-0.7	-1.8
Pretax Income	25	-44.5	-42.6	17.7	47.3	-106.3
Income Tax Expense	4.4	6.4	12.8	8.4	9.5	0.3
Earnings From Continuing Operations	20.6	-50.9	-55.4	9.3	37.8	-106.6
Earnings From Discontinued Operations	-	-	-	-	-	-21.9
Net Income to Company	20.6	-50.9	-55.4	9.3	37.8	-128.5
Minority Interest in Earnings	-	-	-	-	-	0.2
Net Income	20.6	-50.9	-55.4	9.3	37.8	-128.3
Net Income to Common	20.6	-50.9	-55.4	9.3	37.8	-128.3
Net Income Growth	-	-	-	-75.40%	-	-
Shares Outstanding (Basic)	48	48	48	51	51	51
Shares Outstanding (Diluted)	49	48	48	53	53	51
Shares Change (YoY)	4.00%	-1.65%	-7.81%	-0.94%	4.74%	1.20%
EPS (Basic)	0.43	-1.07	-1.14	0.18	0.74	-2.54
EPS (Diluted)	0.42	-1.07	-1.14	0.18	0.71	-2.54
EPS Growth	-	-	-	-74.65%	-	-
Free Cash Flow	60.8	55.7	76.8	94.3	86.5	129.2
Free Cash Flow Per Share	1.23	1.17	1.59	1.80	1.63	2.55
Dividend Per Share	0.275	0.200	-	-	-	0.150
Dividend Growth	83.33%	-	-	-	-	-85.71%
Gross Margin	21.86%	21.70%	19.49%	18.59%	19.27%	20.30%
Operating Margin	4.85%	4.55%	3.55%	3.45%	2.98%	3.02%
Profit Margin	0.83%	-1.91%	-1.87%	0.29%	1.28%	-4.38%
Free Cash Flow Margin	2.43%	2.08%	2.60%	2.93%	2.92%	4.41%
EBITDA	204	224	233.7	252.2	245.6	270.2
EBITDA Margin	8.17%	8.38%	7.90%	7.84%	8.30%	9.22%
D&A For EBITDA	82.8	102.5	128.8	141.3	157.3	181.6
EBIT	121.2	121.5	104.9	110.9	88.3	88.6
EBIT Margin	4.85%	4.55%	3.55%	3.45%	2.98%	3.02%
Effective Tax Rate	17.60%	-	-	47.46%	20.09%	-
Revenue as Reported	2,498	2,672	2,958	3,217	2,960	2,930

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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