Quad/Graphics, Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.42B | $2.67B | $2.96B | $3.22B | $2.96B | $2.93B | $3.92B | $3.99B |
| Cost of Revenue | $1.90B | $2.09B | $2.38B | $2.62B | $2.39B | $2.33B | $3.19B | $3.22B |
| Gross Profit | $523.3M | $580.0M | $576.5M | $598.2M | $570.5M | $594.8M | $731.2M | $764.4M |
| Gross Margin | 21.6% | 21.7% | 19.5% | 18.6% | 19.3% | 20.3% | 18.6% | 19.2% |
| Operating Expenses | ||||||||
| Research & Development | $2.9M | $3.2M | $3.1M | $3.3M | $3.1M | $3.0M | $3.6M | $3.6M |
| SG&A Expense | $325.9M | $356.8M | $344.5M | $358.6M | $326.0M | $335.1M | $397.6M | $358.9M |
| Operating Income | $97.0M | $19.2M | $25.7M | $53.5M | $92.8M | $-46.0M | $34.7M | $87.3M |
| Operating Margin | 4.0% | 0.7% | 0.9% | 1.7% | 3.1% | -1.6% | 0.9% | 2.2% |
| Interest Expense | $50.5M | $64.5M | $70.0M | $48.4M | $59.6M | $68.8M | $90.0M | $73.2M |
| Pretax Income | $32.5M | $-44.5M | $-42.6M | $17.7M | $47.0M | $-106.1M | $-79.8M | $26.5M |
| Income Tax Expense | $5.5M | $6.4M | $12.8M | $8.4M | $9.5M | $300.0K | $-24.4M | $-2.4M |
| Net Income | $27.0M | $-50.9M | $-55.4M | $9.3M | $37.8M | $-128.3M | $-156.3M | $8.5M |
| Net Margin | 1.1% | -1.9% | -1.9% | 0.3% | 1.3% | -4.4% | -4.0% | 0.2% |
| EPS (Basic) | $0.57 | $-1.07 | $-1.14 | $0.18 | $0.74 | $-2.53 | $-3.12 | $0.17 |
| EPS (Diluted) | $0.54 | $-1.07 | $-1.14 | $0.18 | $0.71 | $-2.53 | $-3.12 | $0.16 |
| Shares Outstanding (Basic) | 47.6M | 47.6M | 48.4M | 50.7M | 51.3M | 50.6M | 50.0M | 49.8M |
| Shares Outstanding (Diluted) | 49.9M | 47.6M | 48.4M | 52.5M | 53.0M | 50.6M | 50.0M | 51.6M |
| Dividends Per Share | $0.30 | $0.20 | $0.00 | — | $0.00 | $0.15 | $1.05 | $1.20 |