Quad/Graphics
Quad/Graphics, Inc. provides marketing solutions worldwide. The last earnings update was 81 days ago. More info.
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- Quad/Graphics has significant price volatility in the past 3 months.
QUAD Share Price and Events
7 Day Returns
1 Year Returns
QUAD Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Quad/Graphics (QUAD) | -7.3% | -17.3% | -38% | -62.2% | -70.4% | -64.3% |
| US Commercial Services | 0.5% | 0.2% | 4.7% | 10.5% | 51% | 80.6% |
| US Market | -1.2% | 1.2% | 1.7% | 3.4% | 35.5% | 41.6% |
1 Year Return vs Industry and Market
- QUAD underperformed the Commercial Services industry which returned 10.5% over the past year.
- QUAD underperformed the Market in United States of America which returned 3.4% over the past year.
QUAD Value
Is Quad/Graphics undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Quad/Graphics
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Quad/Graphics.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 2 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 14.3% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Commercial Services Unlevered Beta | Simply Wall St/ S&P Global | 0.67 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.672 (1 + (1- 21%) (327.5%)) |
1.945 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.94 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.945 * 5.96%) |
14.32% |
Discounted Cash Flow Calculation for NYSE:QUAD using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Quad/Graphics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 14.32%) |
|
|---|---|---|---|
| 2020 | 268.35 | Analyst x2 | 234.74 |
| 2021 | 307.89 | Est @ 14.73% | 235.58 |
| 2022 | 342.17 | Est @ 11.13% | 229.01 |
| 2023 | 371.63 | Est @ 8.61% | 217.57 |
| 2024 | 397.08 | Est @ 6.85% | 203.35 |
| 2025 | 419.36 | Est @ 5.61% | 187.86 |
| 2026 | 439.27 | Est @ 4.75% | 172.12 |
| 2027 | 457.47 | Est @ 4.14% | 156.80 |
| 2028 | 474.48 | Est @ 3.72% | 142.25 |
| 2029 | 490.72 | Est @ 3.42% | 128.69 |
| Present value of next 10 years cash flows | $1,907.97 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2029
× (1 + g) ÷ (Discount Rate – g)
= $490.72 × (1 + 2.73%) ÷ (14.32% – 2.73%) |
$4,348.98 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $4,348.98 ÷ (1 + 14.32%)10 |
$1,140.53 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,907.97 + $1,140.53 |
$3,048.50 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $3,048.50 / 51.54 |
$59.15 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $59.15 |
| Current discount | Discount to share price of
$7.54
= -1 x ($7.54 - $59.15) / $59.15 |
87.3% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Quad/Graphics's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Quad/Graphics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Quad/Graphics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Quad/Graphics's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $-0.21 |
| NYSE:QUAD Share Price ** | NYSE (2019-07-19) in USD | $7.54 |
| United States of America Commercial Services Industry PE Ratio | Median Figure of 46 Publicly-Listed Commercial Services Companies | 22.93x |
| United States of America Market PE Ratio | Median Figure of 3,080 Publicly-Listed Companies | 17.88x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Quad/Graphics.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:QUAD Share Price ÷ EPS (both in USD) = 7.54 ÷ -0.21 |
-35.67x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Quad/Graphics is loss making, we can't compare its value to the US Commercial Services industry average.
- Quad/Graphics is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does
Quad/Graphics's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -35.67x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
126.5%per year |
| United States of America Commercial Services Industry PEG Ratio | Median Figure of 34 Publicly-Listed Commercial Services Companies | 1.64x |
| United States of America Market PEG Ratio | Median Figure of 2,119 Publicly-Listed Companies | 1.57x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Quad/Graphics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Quad/Graphics's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $7.62 |
| NYSE:QUAD Share Price * | NYSE (2019-07-19) in USD | $7.54 |
| United States of America Commercial Services Industry PB Ratio | Median Figure of 86 Publicly-Listed Commercial Services Companies | 1.83x |
| United States of America Market PB Ratio | Median Figure of 5,245 Publicly-Listed Companies | 1.79x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:QUAD Share Price ÷ Book Value per Share (both in USD) = 7.54 ÷ 7.62 |
0.99x |
* Primary Listing of Quad/Graphics.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Quad/Graphics is good value based on assets compared to the US Commercial Services industry average.
Value checks
We assess Quad/Graphics's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check) Quad/Graphics has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
QUAD Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Quad/Graphics's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Quad/Graphics's earnings growth is expected to exceed the United States of America market average.
- Quad/Graphics's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:QUAD Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | 126.5% |
| NYSE:QUAD Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 35.1% |
| United States of America Commercial Services Industry Earnings Growth Rate | Market Cap Weighted Average | 15.4% |
| United States of America Commercial Services Industry Revenue Growth Rate | Market Cap Weighted Average | 5.3% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.4% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 7,739 | 453 | 67 | 2 |
| 2019-12-31 | 5,518 | 322 | 27 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 4,231 | 200 | -11 |
| 2018-12-31 | 4,194 | 261 | 9 |
| 2018-09-30 | 4,176 | 211 | 85 |
| 2018-06-30 | 4,153 | 272 | 81 |
| 2018-03-31 | 4,100 | 283 | 78 |
| 2017-12-31 | 4,131 | 344 | 107 |
| 2017-09-30 | 4,166 | 272 | 89 |
| 2017-06-30 | 4,217 | 245 | 81 |
| 2017-03-31 | 4,286 | 303 | 67 |
| 2016-12-31 | 4,330 | 354 | 45 |
| 2016-09-30 | 4,445 | 429 | -2 |
| 2016-06-30 | 4,524 | 444 | -566 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
All data from Quad/Graphics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-12-31 | 0.95 | 0.95 | 0.95 | 1.00 |
| 2019-12-31 | 0.37 | 0.37 | 0.37 | 1.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | -0.21 |
| 2018-12-31 | 0.17 |
| 2018-09-30 | 1.69 |
| 2018-06-30 | 1.61 |
| 2018-03-31 | 1.57 |
| 2017-12-31 | 2.16 |
| 2017-09-30 | 1.82 |
| 2017-06-30 | 1.66 |
| 2017-03-31 | 1.38 |
| 2016-12-31 | 0.94 |
| 2016-09-30 | -0.04 |
| 2016-06-30 | -11.84 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Quad/Graphics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Quad/Graphics's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Quad/Graphics has a total score of 5/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
QUAD Past Performance
How has Quad/Graphics performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Quad/Graphics does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
- Unable to compare Quad/Graphics's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Quad/Graphics's 1-year growth to the US Commercial Services industry average as it is not currently profitable.
Earnings and Revenue History
All data from Quad/Graphics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 4,230.90 | -10.50 | 369.20 | |
| 2018-12-31 | 4,193.70 | 8.50 | 373.00 | |
| 2018-09-30 | 4,176.30 | 84.60 | 406.10 | |
| 2018-06-30 | 4,152.60 | 81.00 | 421.70 | |
| 2018-03-31 | 4,100.30 | 78.30 | 423.40 | |
| 2017-12-31 | 4,131.40 | 107.20 | 419.20 | |
| 2017-09-30 | 4,165.50 | 89.40 | 415.30 | |
| 2017-06-30 | 4,216.50 | 80.90 | 420.30 | |
| 2017-03-31 | 4,285.60 | 66.50 | 431.60 | |
| 2016-12-31 | 4,329.50 | 44.90 | 461.60 | |
| 2016-09-30 | 4,444.80 | -2.00 | 464.00 | |
| 2016-06-30 | 4,523.90 | -565.50 | 460.20 | |
| 2016-03-31 | 4,551.60 | -602.90 | 457.60 | |
| 2015-12-31 | 4,597.10 | -641.90 | 448.30 | |
| 2015-09-30 | 4,707.70 | -606.60 | 440.80 | |
| 2015-06-30 | 4,808.60 | -30.10 | 441.70 | |
| 2015-03-31 | 4,847.60 | -8.00 | 431.70 | |
| 2014-12-31 | 4,777.60 | 18.30 | 425.50 | |
| 2014-09-30 | 4,787.80 | 52.90 | 414.30 | |
| 2014-06-30 | 4,757.40 | 41.30 | 408.90 | |
| 2014-03-31 | 4,769.20 | 36.80 | 413.60 | |
| 2013-12-31 | 4,795.90 | 31.40 | 416.00 | |
| 2013-09-30 | 4,576.80 | -10.00 | 399.80 | |
| 2013-06-30 | 4,410.50 | 17.10 | 385.50 | |
| 2013-03-31 | 4,233.90 | 23.80 | 361.00 | |
| 2012-12-31 | 4,094.00 | 53.40 | 347.10 | |
| 2012-09-30 | 4,179.10 | 43.10 | 368.40 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- It is difficult to establish if Quad/Graphics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
- Quad/Graphics used its assets less efficiently than the US Commercial Services industry average last year based on Return on Assets.
- It is difficult to establish if Quad/Graphics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Quad/Graphics's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Quad/Graphics has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
QUAD Health
How is Quad/Graphics's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Quad/Graphics's finances.
The net worth of a company is the difference between its assets and liabilities.
- Quad/Graphics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Quad/Graphics's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Quad/Graphics Company Filings, last reported 3 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 419.90 | 1,126.90 | 12.50 |
| 2018-12-31 | 460.20 | 925.50 | 73.80 |
| 2018-09-30 | 513.30 | 1,058.20 | 14.50 |
| 2018-06-30 | 503.30 | 1,030.10 | 16.10 |
| 2018-03-31 | 568.70 | 1,013.80 | 36.00 |
| 2017-12-31 | 522.40 | 945.50 | 66.50 |
| 2017-09-30 | 466.00 | 1,034.10 | 15.40 |
| 2017-06-30 | 458.80 | 1,055.90 | 8.70 |
| 2017-03-31 | 460.70 | 1,078.90 | 6.90 |
| 2016-12-31 | 441.50 | 1,104.50 | 9.00 |
| 2016-09-30 | 399.50 | 1,163.80 | 11.50 |
| 2016-06-30 | 395.40 | 1,189.30 | 8.70 |
| 2016-03-31 | 414.80 | 1,267.20 | 10.30 |
| 2015-12-31 | 423.90 | 1,341.60 | 10.80 |
| 2015-09-30 | 450.80 | 1,512.20 | 14.20 |
| 2015-06-30 | 1,026.00 | 1,474.70 | 13.60 |
| 2015-03-31 | 1,080.60 | 1,449.60 | 24.50 |
| 2014-12-31 | 1,152.50 | 1,400.70 | 9.60 |
| 2014-09-30 | 1,221.10 | 1,617.10 | 18.80 |
| 2014-06-30 | 1,231.10 | 1,570.10 | 17.40 |
| 2014-03-31 | 1,265.70 | 1,450.00 | 13.10 |
| 2013-12-31 | 1,287.60 | 1,411.30 | 13.10 |
| 2013-09-30 | 1,161.00 | 1,540.50 | 20.30 |
| 2013-06-30 | 1,152.90 | 1,464.00 | 11.70 |
| 2013-03-31 | 1,208.60 | 1,504.70 | 24.20 |
| 2012-12-31 | 1,235.70 | 1,348.80 | 16.90 |
| 2012-09-30 | 1,349.30 | 1,319.50 | 18.60 |
- Quad/Graphics's level of debt (271.9%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (116.1% vs 271.9% today).
CASH RUNWAY ANALYSIS
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
- Whilst loss making Quad/Graphics has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
- Whilst loss making Quad/Graphics has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by % per year.
Financial health checks
We assess Quad/Graphics's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Quad/Graphics has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
QUAD Dividends
What is Quad/Graphics's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Quad/Graphics
shares you are expected to receive
$318
in your first year as a dividend.
Dividend Amount
- Quad/Graphics's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Quad/Graphics's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 2 Analyst Estimates (S&P Global) | See Below |
| United States of America Commercial Services Industry Average Dividend Yield | Market Cap Weighted Average of 41 Stocks | 1.6% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2016 Stocks | 2.4% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | ||
| 2019-12-31 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-30 | 1.200 | 13.349 |
| 2019-02-20 | 1.200 | 9.530 |
| 2019-02-19 | 1.200 | 7.825 |
| 2018-10-31 | 1.200 | 8.373 |
| 2018-08-01 | 1.200 | 5.891 |
| 2018-07-31 | 1.200 | 5.336 |
| 2018-02-21 | 1.200 | 5.358 |
| 2017-10-31 | 1.200 | 5.339 |
| 2017-08-01 | 1.200 | 5.803 |
| 2017-05-03 | 1.200 | 5.217 |
| 2017-05-02 | 1.200 | 4.401 |
| 2017-02-22 | 1.200 | 4.808 |
| 2017-02-21 | 1.200 | 4.651 |
| 2016-11-02 | 1.200 | 4.597 |
| 2016-11-01 | 1.200 | 5.007 |
| 2016-08-02 | 1.200 | 4.528 |
| 2016-08-01 | 1.200 | 4.474 |
| 2016-02-23 | 1.200 | 7.429 |
| 2016-02-22 | 1.200 | 11.132 |
| 2015-11-04 | 1.200 | 12.818 |
| 2015-11-03 | 1.200 | 10.824 |
| 2015-05-06 | 1.200 | 7.630 |
| 2015-05-05 | 1.200 | 5.559 |
| 2014-11-05 | 1.200 | 5.439 |
| 2014-08-06 | 1.200 | 5.723 |
| 2014-05-20 | 1.200 | 5.581 |
| 2014-02-27 | 1.200 | 5.468 |
| 2013-11-06 | 1.200 | 4.811 |
| 2013-11-05 | 1.200 | 3.678 |
| 2013-05-20 | 1.200 | 4.250 |
| 2012-12-14 | 1.200 | 5.537 |
| 2012-11-07 | 1.000 | 6.256 |
| 2012-08-07 | 1.000 | 5.617 |
| 2012-05-09 | 1.000 | 7.186 |
| 2012-02-28 | 1.000 | 7.504 |
| 2011-11-10 | 0.800 | 5.748 |
| 2011-08-10 | 0.800 | 4.228 |
| 2011-05-10 | 0.800 | 2.175 |
| 2011-03-24 | 0.500 | 1.205 |
| 2011-03-09 | 0.500 | 1.163 |
| 2010-11-15 | 0.500 | 1.158 |
| 2010-11-11 | 0.500 | 1.177 |
| 2010-08-13 | 0.500 | 1.114 |
| 2010-08-11 | 0.500 | 1.152 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Whilst dividend payments have been stable, Quad/Graphics has been paying a dividend for less than 10 years.
- Dividend payments have increased, but Quad/Graphics only paid a dividend in the past 9 years.
Income/ dividend checks
We assess Quad/Graphics's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Quad/Graphics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Quad/Graphics has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
QUAD Management
CEO
| COMPENSATION | $6,459,795 |
| AGE | 50 |
| TENURE AS CEO | 13 years |
CEO Bio
Mr. J. Joel Quadracci serves as President of Quad/Greenfield, LLC and Graphic Imaging Technology, LLC. Mr. Quadracci has been the Chairman, Chief Executive Officer and President of Quad/Graphics, Inc. since January 2010, July 1, 2006 and January 1, 2005 respectively. Mr. Quadracci served as the President and Chief Executive Officer of QuadWinkowski Sp. z. o. o. He served as the Chief Executive Officer and President of Quad/Graphics Europe Sp z o.o. He served as Chief Operating Officer of Quad/Graphics Inc., since January 1, 2005 and served as Senior Vice President of sales and administration since December 2003, responsible for directing all facets of Sales and Customer Service. In January 2005, he became responsible for day-to-day operations of Quad/Graphics Inc.'s core U.S. printing business as President and Chief Operating Officer. He officially joined Quad/Graphics in 1991, where served as its Sales Manager since 1995, Manager of the New York City Sales office since 1997, Regional Sales Strategy Director since 1998 and served as its Vice President of Print Sales since 1999. Mr. Quadracci has successfully integrated Sales with Customer Service to create a high-performance service team focused on consistently providing clients with unequaled response. He serves as the Chairman of Openfirst LLC. Mr. Quadracci also serves on the Board of Directors of Rise Interactive Media & Analytics, LLC since March 2018. He has been a Director of Quad/Graphics, Inc., since December 2003. He serves as a Director of Direct Marketing Association Inc. He serves on the Board of Directors of the Children's Research Institute, which is affiliated with the Medical College of Wisconsin. He serves as Board Member and officer of ACEER, the Amazon Center for Environmental Education and Research. He served as a Director of Wisconsin Manufacturers & Commerce. He is the inheritor of a rich printing legacy. Mr. Quadracci also serves on the board of directors for the Wisconsin Manufacturers & Commerce, a trade organization, Skidmore College, the Metropolitan Milwaukee Association of Commerce, the Milwaukee Art Museum, Pixibility, Inc. and the Smithsonian National Postal Museum Advisory Council. Mr. Quadracci received a Bachelor of Arts in Philosophy from Skidmore College in 1991.
CEO Compensation
- J.'s compensation has increased whilst company is loss making.
- J.'s remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Quad/Graphics management team in years:
- The tenure for the Quad/Graphics management team is about average.
Management Team
J. Quadracci
Chairman
$6M
50
13 yrs
Dave Honan
Executive VP & CFO
$2M
50
5.3 yrs
Tom Frankowski
Executive VP of Manufacturing & COO
$3M
58
5.3 yrs
Jennifer Kent
Executive VP of Administration
$2M
47
4.1 yrs
Eric Ashworth
Executive Vice President of Product & Market Strategy
$2M
53
3.3 yrs
Steve Jaeger
Chief Information Officer
$1M
54
5.3 yrs
Kyle Egan
Director of Investor Relations & Assistant Treasurer
Dana Gruen
Chief Compliance Officer
2.6 yrs
Maura Packham
Vice President of Corporate Communications
50
2.6 yrs
Renee Badura
Executive Vice President of Sales & Marketing
55
4.1 yrs
Board of Directors Tenure
Average tenure and age of the Quad/Graphics board of directors in years:
- The tenure for the Quad/Graphics board of directors is about average.
Board of Directors
Douglas Buth
Independent Director
$254K
64
14.5 yrs
J. Quadracci
Chairman
$6M
50
9.5 yrs
Chris Harned
Director
$244K
56
14.5 yrs
John Shiely
Independent Director
$249K
66
23.5 yrs
John Fowler
Director
$252K
68
3 yrs
Mark Angelson
Independent Director
$234K
67
4.3 yrs
Kathryn Flores
Director
$234K
51
5.6 yrs
Steve Fuller
Director
$234K
58
3.5 yrs
Jay Rothman
Independent Director
$224K
60
2.2 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 08. Mar 19 | Sell | Eric Ashworth | Individual | 05. Mar 19 | 05. Mar 19 | -15,000 | $13.14 | $-197,063 | ||
| 07. Aug 18 | Sell | Jennifer Kent | Individual | 03. Aug 18 | 03. Aug 18 | -9,143 | $21.83 | $-199,555 | ||
| 03. Aug 18 | Sell | John Fowler | Individual | 01. Aug 18 | 01. Aug 18 | -10,000 | $24.01 | $-240,095 | ||
Management checks
We assess Quad/Graphics's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Quad/Graphics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
QUAD News
Simply Wall St News
Is Quad/Graphics (NYSE:QUAD) A Risky Investment?
When we think about a company's use of debt, we first look at cash and debt together. … NYSE:QUAD Historical Debt, July 17th 2019 How Strong Is Quad/Graphics's Balance Sheet? … Since Quad/Graphics does have net debt, we think it is worthwhile for shareholders to keep an eye on the balance sheet, over time.
Simply Wall St - – Full articleHow Many Quad/Graphics, Inc. (NYSE:QUAD) Shares Have Insiders Sold, In The Last Year?
So shareholders might well want to know whether insiders have been buying or selling shares in Quad/Graphics, Inc. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' View our latest analysis for Quad/Graphics The Last 12 Months Of Insider Transactions At Quad/Graphics Over the last year, we can see that the biggest insider sale was by the Director, John Fowler, for US$240k worth of shares, at about US$24.01 per share. … Insider Ownership For a common shareholder, it is worth checking how many shares are held by company insiders.
Simply Wall St - – Full articleHas Quad/Graphics, Inc. (NYSE:QUAD) Been Employing Capital Shrewdly?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
Simply Wall St - – Full articleShould You Think About Buying Quad/Graphics, Inc. (NYSE:QUAD) Now?
saw a decent share price growth in the teens level on the NYSE over the last few months. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … So, could the stock still be trading at a low price relative to its actual value.
Simply Wall St - – Full articleDoes Quad/Graphics, Inc. (NYSE:QUAD) Have A Particularly Volatile Share Price?
Some stocks mimic the volatility of the market quite closely, while others demonstrate muted, exagerrated or uncorrelated price movements. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.
Simply Wall St - – Full articleIf You Had Bought Quad/Graphics (NYSE:QUAD) Stock A Year Ago, You'd Be Sitting On A 54% Loss, Today
Investing in stocks comes with the risk that the share price will fall. … The share price is down a hefty 54% in that time. … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time.
Simply Wall St - – Full articleShould You Be Worried About Insider Transactions At Quad/Graphics, Inc. (NYSE:QUAD)?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So we'll take a look at whether insiders have been buying or selling shares in Quad/Graphics, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.
Simply Wall St - – Full articleAt US$14.12, Is It Time To Put Quad/Graphics, Inc. (NYSE:QUAD) On Your Watch List?
As a small cap stock, hardly covered by any analysts, there is generally more of an opportunity for mispricing as there is less activity to push the stock closer to fair value? … Is there still an opportunity here to buy. … Today I will analyse the most recent data on Quad/Graphics’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleWhy You Should Care About Quad/Graphics, Inc.’s (NYSE:QUAD) Low Return On Capital
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleShould You Worry About Quad/Graphics, Inc.'s (NYSE:QUAD) CEO Salary Level?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Quadracci's Compensation Compare With Similar Sized Companies. … We looked at a group of companies with market capitalizations from US$400m to US$1.6b, and the median CEO compensation was US$2.4m..
Simply Wall St - – Full articleQUAD Company Info
Description
Quad/Graphics, Inc. provides marketing solutions worldwide. The company operates through United States Print and Related Services, and International segments. It offers printing services, such as retail inserts, publications, catalogs, special interest publications, journals, direct mail, books, directories, in-store marketing and promotion, packaging, newspapers, custom print products, and other commercial and specialty printed products; and paper procurement services. The company also provides marketing and other services, including consumer insights, audience targeting, personalization, media planning and placement, process optimization, campaign planning and creation, pre-media production, videography, photography, digital and print execution, and logistics, as well as manufactures ink. It serves various blue chip companies that operate in various industries; and businesses and consumers comprising retailers, publishers, and direct marketers. Quad/Graphics, Inc. was founded in 1971 and is headquartered in Sussex, Wisconsin.
Details
| Name: | Quad/Graphics, Inc. |
| QUAD | |
| Exchange: | NYSE |
| Founded: | 1971 |
| $388,584,878 | |
| 51,536,456 | |
| Website: | http://www.quad.com |
| Address: |
Quad/Graphics, Inc. N61 W23044 Harry’s Way, Sussex, Wisconsin, 53089, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | QUAD | Class A Common Stock | New York Stock Exchange | US | USD | 06. Jul 2010 | |
| DB | QGU | Class A Common Stock | Deutsche Boerse AG | DE | EUR | 06. Jul 2010 |
Number of employees
Current staff
Industry
| Commercial Printing | |
| Commercial Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/07/21 00:45 |
| End of day share price update: | 2019/07/19 00:00 |
| Last estimates confirmation: | 2019/06/21 |
| Last earnings filing: | 2019/05/01 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
