Latest Ratios: P/E Ratio 15.3x · EV/EBITDA 4.1x · ROE 30.3%. (2008–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $433M | $313M | $332M | $262M | $214M | $212M | $193M | $234M | $636M | $1.2B | $1.3B |
| Enterprise Value | $813M | $694M | $767M | $835M | $903M | $964M | $1.1B | $1.4B | $1.5B | $2.1B | $2.5B |
| P/E Ratio → | 15.33 | 11.61 | — | — | 22.67 | 5.63 | — | — | 77.00 | 10.92 | 29.87 |
| P/S Ratio | 0.18 | 0.13 | 0.12 | 0.09 | 0.07 | 0.07 | 0.07 | 0.06 | 0.15 | 0.28 | 0.31 |
| P/B Ratio | 3.21 | 2.43 | 6.65 | 2.20 | 1.24 | 1.55 | 2.28 | 0.96 | 1.38 | 2.24 | 3.03 |
| P/FCF | 8.54 | 6.17 | 5.96 | 3.42 | 2.27 | 2.45 | 1.50 | 5.25 | 3.87 | 4.54 | 5.43 |
| P/OCF | 4.51 | 3.26 | 2.94 | 1.78 | 1.39 | 1.55 | 1.02 | 1.50 | 2.44 | 3.40 | 3.80 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.29 | 0.29 | 0.28 | 0.28 | 0.33 | 0.39 | 0.36 | 0.36 | 0.50 | 0.57 |
| EV / EBITDA | 4.12 | 3.51 | 3.34 | 3.67 | 3.73 | 3.90 | 4.35 | 4.23 | 3.70 | 4.62 | 5.07 |
| EV / EBIT | 6.85 | 5.84 | 41.47 | 38.29 | 12.59 | 8.86 | — | 149.52 | 15.09 | 12.76 | 18.06 |
| EV / FCF | — | 13.68 | 13.77 | 10.87 | 9.57 | 11.14 | 8.89 | 31.58 | 9.17 | 8.02 | 10.01 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.4% | 18.4% | 18.0% | 15.2% | 14.3% | 14.1% | 14.2% | 13.4% | 13.2% | 15.7% | 15.4% |
| Operating Margin | 4.9% | 4.9% | 4.8% | 3.3% | 3.1% | 3.0% | 2.8% | 3.1% | 4.6% | 5.2% | 4.8% |
| Net Profit Margin | 1.1% | 1.1% | -1.9% | -1.9% | 0.3% | 1.3% | -4.4% | -1.4% | 0.2% | 2.6% | 1.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 30.3% | 30.3% | -60.1% | -37.9% | 6.0% | 34.1% | -78.0% | -15.7% | 1.7% | 22.2% | 10.4% |
| ROA | 2.1% | 2.1% | -3.6% | -3.5% | 0.5% | 2.0% | -5.9% | -2.3% | 0.3% | 4.3% | 1.7% |
| ROIC | 17.9% | 17.9% | 16.2% | 9.5% | 8.6% | 7.0% | 5.0% | 6.7% | 10.5% | 10.8% | 9.4% |
| ROCE | 19.3% | 19.3% | 19.3% | 12.2% | 10.9% | 8.3% | 5.8% | 7.6% | 11.6% | 12.3% | 10.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.45 | 3.45 | 9.31 | 5.23 | 4.13 | 6.81 | 11.92 | 5.12 | 2.04 | 1.85 | 2.57 |
| Debt / EBITDA | 2.25 | 2.25 | 2.02 | 2.75 | 2.95 | 3.77 | 3.83 | 3.76 | 2.31 | 2.15 | 2.34 |
| Net Debt / Equity | — | 2.96 | 8.73 | 4.79 | 3.98 | 5.49 | 11.27 | 4.80 | 1.89 | 1.72 | 2.55 |
| Net Debt / EBITDA | 1.93 | 1.93 | 1.90 | 2.51 | 2.85 | 3.04 | 3.62 | 3.53 | 2.14 | 2.01 | 2.32 |
| Debt / FCF | — | 7.51 | 7.82 | 7.45 | 7.30 | 8.69 | 7.40 | 26.34 | 5.30 | 3.49 | 4.57 |
| Interest Coverage | 2.35 | 2.35 | 0.29 | 0.31 | 1.48 | 1.83 | -0.45 | 0.10 | 1.36 | 2.28 | 1.77 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.86 | 0.86 | 0.76 | 0.74 | 0.89 | 0.85 | 0.99 | 1.12 | 1.11 | 1.22 | 1.17 |
| Quick Ratio | 0.63 | 0.63 | 0.53 | 0.52 | 0.56 | 0.61 | 0.75 | 0.86 | 0.76 | 0.89 | 0.82 |
| Cash Ratio | 0.10 | 0.10 | 0.04 | 0.07 | 0.03 | 0.19 | 0.08 | 0.10 | 0.08 | 0.09 | 0.01 |
| Asset Turnover | — | 1.93 | 2.06 | 1.96 | 1.89 | 1.57 | 1.52 | 1.62 | 1.70 | 1.68 | 1.68 |
| Inventory Turnover | 13.76 | 13.76 | 13.49 | 14.02 | 10.57 | 11.25 | 14.77 | 16.14 | 11.42 | 14.13 | 13.80 |
| Days Sales Outstanding | — | 44.47 | 37.32 | 39.02 | 42.28 | 44.63 | 49.72 | 42.43 | 43.31 | 48.81 | 47.51 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.5% | 4.6% | 2.8% | 0.0% | 0.7% | 0.7% | 4.9% | 24.5% | 9.9% | 5.3% | 4.6% |
| Payout Ratio | 53.3% | 53.3% | — | — | 15.1% | 3.7% | — | — | 740.0% | 58.3% | 136.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.5% | 8.6% | — | — | 4.4% | 17.8% | — | — | 1.3% | 9.2% | 3.3% |
| FCF Yield | 11.7% | 16.2% | 16.8% | 29.3% | 44.0% | 40.8% | 66.8% | 19.1% | 25.8% | 22.0% | 18.4% |
| Buyback Yield | 1.8% | 2.6% | 0.6% | 4.8% | 4.7% | 0.0% | 0.5% | 2.8% | 5.8% | 0.3% | 0.7% |
| Total Shareholder Yield | 5.3% | 7.2% | 3.5% | 4.8% | 5.3% | 0.7% | 5.4% | 27.3% | 15.7% | 5.7% | 5.2% |
| Shares Outstanding | — | $50M | $48M | $48M | $53M | $53M | $51M | $50M | $52M | $52M | $50M |
Secular print volume decline
According to recent market data, QUAD trades at a forward P/E of 6.95 and an EV/EBITDA of 4.16, suggesting that investors are applying a significant 'melting ice cube' discount to the company's legacy print assets compared to broader specialty business service peers like Enova International.
The low valuation multiples appear to reflect deep market skepticism regarding the company's ability to successfully pivot toward higher-margin marketing services. Investors should monitor whether the current forward earnings multiple is a value opportunity or a reflection of the structural risk inherent in a business model facing persistent secular revenue contraction.
As reported in financial statements, QUAD's ROIC has remained range-bound between 2.3% and 5.2% over the last ten quarters, indicating that the company's heavy investment in printing infrastructure is struggling to generate returns that meaningfully exceed the cost of capital in a declining demand environment.
The persistent low ROIC suggests that the company's capital allocation strategy is currently focused on maintaining legacy operations rather than compounding value through high-growth initiatives. This trend warrants further investigation into whether the ongoing footprint optimization can eventually drive a structural improvement in capital efficiency.
Based on the provided quarterly data, QUAD's cash conversion cycle has fluctuated between 10 and 23 days, revealing that the company's working capital management is highly sensitive to the timing of client payments and inventory procurement cycles within its complex logistics and co-mailing network.
The variability in the cash conversion cycle suggests that the company lacks the leverage to dictate terms to its customer base, which is typical for a provider in a commoditized industry. Investors should monitor whether the recent DSO trends indicate a tightening of credit terms or simply the seasonal nature of retail marketing spend.
According to recent balance sheet filings, QUAD's debt-to-EBITDA ratio has remained elevated, peaking at 12.41 in 2024Q2, which highlights a precarious leverage position that limits the company's strategic flexibility during its ongoing business model transformation and period of top-line revenue decline.
The high leverage levels appear to leave the company with little margin for error, particularly if interest coverage ratios continue to hover near or below 1.0x. This capital structure warrants close monitoring, as any further deterioration in operating income could severely restrict the company's ability to refinance existing obligations.
As evidenced by the company's frequent restructuring charges, the P/E ratio is a commonly misapplied metric for QUAD, as it obscures the underlying cash-generating capacity of the business by including non-recurring items that are effectively recurring in this industry's consolidation phase.
Analysts should prioritize EV/EBITDA or free cash flow metrics over P/E to better assess the core operational health of the manufacturing and logistics segments. Relying on net income-based multiples may lead to an inaccurate assessment of the company's true valuation given the volatility introduced by frequent restructuring and asset impairment charges.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying QUAD stock.
Quad/Graphics, Inc.'s current P/E ratio is 15.3x. The historical average is 30.2x. This places it at the 44th percentile of its historical range.
Quad/Graphics, Inc.'s current EV/EBITDA is 4.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.2x.
Quad/Graphics, Inc.'s return on equity (ROE) is 30.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -9.0%.
Based on historical data, Quad/Graphics, Inc. is trading at a P/E of 15.3x. This is at the 44th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Quad/Graphics, Inc.'s current dividend yield is 3.49% with a payout ratio of 53.3%.
Quad/Graphics, Inc. has 18.4% gross margin and 4.9% operating margin.
Quad/Graphics, Inc.'s Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.