Quad/Graphics, Inc. (QUAD)
NYSE: QUAD · Real-Time Price · USD
7.62
+0.08 (1.06%)
Nov 13, 2026, 4:00 PM EST - Market closed
Quad/Graphics Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 26.5 | 27 | -50.9 | -55.4 | 9.3 | 37.8 |
Depreciation & Amortization | 72.3 | 78.6 | 102.5 | 128.8 | 141.3 | 157.3 |
Other Amortization | 1.6 | 1.6 | 1.6 | 2 | 2.2 | 3 |
Loss (Gain) From Sale of Assets | -29.7 | -20.2 | -22.5 | -10.9 | 20.8 | -69.9 |
Asset Writedown & Restructuring Costs | 11.5 | 7.5 | 74.9 | 25.2 | 2.2 | 2.8 |
Loss (Gain) From Sale of Investments | - | - | -4.1 | - | - | 32.1 |
Loss (Gain) on Equity Investments | - | - | - | - | - | -0.3 |
Stock-Based Compensation | 7.4 | 6.6 | 7.3 | 5.6 | 6 | 6.2 |
Other Operating Activities | 13.2 | 13.4 | -2 | -3.7 | 2.4 | -9.2 |
Change in Accounts Receivable | -4 | -4 | 14.8 | 65 | -18.6 | 12.7 |
Change in Inventory | 24 | 24 | 2.4 | 90.3 | -41.1 | -58.3 |
Change in Accounts Payable | -31.1 | -31.1 | 7.2 | -106.7 | 63.9 | 49 |
Change in Other Net Operating Assets | -18.8 | -7.5 | -18.3 | 7.4 | -33.8 | -26.7 |
Operating Cash Flow | 83.5 | 95.9 | 112.9 | 147.6 | 154.6 | 136.5 |
Operating Cash Flow Growth | -23.25% | -15.06% | -23.51% | -4.53% | 13.26% | -28.23% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -46.3 | -45.2 | -57.2 | -70.8 | -60.3 | -50 |
Sale of Property, Plant & Equipment | 42.4 | 36.8 | 49.1 | 31.7 | 4.6 | 126.3 |
Cash Acquisitions | -1.9 | -16.3 | - | -1.5 | -2.6 | - |
Divestitures | - | - | - | - | - | 39.7 |
Investment in Securities | - | -0.3 | 22 | -0.7 | -3.3 | -1.4 |
Other Investing Activities | 0.2 | -2.7 | -1.2 | -5.1 | 1.1 | 14.8 |
Investing Cash Flow | -5.6 | -27.7 | 12.7 | -46.4 | -60.5 | 129.4 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Long-Term Debt Issued | - | 1,280 | 1,511 | 1,439 | 998.8 | 461 |
Long-Term Debt Repaid | - | -1,290 | -1,644 | -1,497 | -1,233 | -583 |
Net Debt Issued (Repaid) | -30.1 | -10 | -133 | -58.6 | -234.2 | -122 |
Repurchase of Common Stock | -12.4 | -11.6 | -2.1 | -14.3 | -12.5 | -1.1 |
Common Dividends Paid | -18.4 | -14.4 | -9.4 | -0.1 | -1.4 | -1.4 |
Other Financing Activities | -0.1 | -0.1 | -4.6 | -0.6 | -0.6 | -16.4 |
Financing Cash Flow | -61 | -36.1 | -149.1 | -73.6 | -248.7 | -140.9 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -0.3 | 0.3 | -0.2 | 0.1 | -0.1 | -0.3 |
Miscellaneous Cash Flow Adjustments | - | 1.7 | - | - | - | - |
Net Cash Flow | 16.6 | 34.1 | -23.7 | 27.7 | -154.7 | 124.7 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 37.2 | 50.7 | 55.7 | 76.8 | 94.3 | 86.5 |
Free Cash Flow Growth | -38.82% | -8.98% | -27.47% | -18.56% | 9.02% | -33.05% |
Free Cash Flow Margin | 1.57% | 2.10% | 2.08% | 2.60% | 2.93% | 2.92% |
Free Cash Flow Per Share | 0.74 | 1.02 | 1.17 | 1.59 | 1.80 | 1.63 |
Levered Free Cash Flow | 84.05 | 13.24 | 153.43 | 134.51 | 106.76 | 179.34 |
Unlevered Free Cash Flow | 107.89 | 43.2 | 192.14 | 176.26 | 134.81 | 213.59 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 40.2 | 40.2 | 52.9 | 55.9 | 44 | 41.8 |
Cash Income Tax Paid | 5.8 | 5.8 | 10.7 | 12.2 | 6.2 | 4.3 |
Change in Working Capital | -29.9 | -18.6 | 6.1 | 56 | -29.6 | -23.3 |